Marketing Essentials Assignment | Rolls-Royce

Added on - 21 Feb 2021

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MARKETINGESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Explaining roles and responsibilities of the marketing function...........................................3P2 Explaining relation of roles and responsibilities in wider organisation context....................5TASK 2...........................................................................................................................................7P3 Compare two different organisation in context of marketing mix.........................................7P4 Producing Marketing plan to achieve organisation objective..............................................10CONCLUSION..............................................................................................................................13REFFRENCES...............................................................................................................................14
INTRODUCTIONMarketing is combination of group of activity performed by company to attract newcustomers or retain old customers to make them buy the product for company. Marketing possessfollowing activities which are advertising, selling and delivering products to customers.Marketing is not only concise in narrower concept, it is a wider concept as it involvesidentification of customer needs and providing goods or services according to the need. Thereport will be on Rolls-Royce Holdings which is a British multinational engineering companyestablished in February 2011(Achrol and Kotler 2012). The company is world's second largestmaker of aircraft engines. The founder of Rolls-Royce was Henry Royce. This report will coverthe key roles and responsibilities of the marketing function and how these roles inter relate to thewider organisational context. It will also cover the ways in which marketing mix is applied to themarketing plan of company to achieve the specified objective and evaluation of a marketing planfor organisation.TASK 1P1 Explaining roles and responsibilities of the marketing function.Marketing refers to that activity which is followed by the company to promote thepurchasing and selling a product or service. It includes various activities like advertising, selling,and delivering the products to the customers. Moreover, it is that process which is followed bythe company's for getting interest of the customers in their product or service. It is possible whena company do proper market research, analysis, and understanding that what their customerswant from them. In context ofRolls-Royce holding plc, which is a British multinationalengineering company and it is wholly owned subsidiary of German group BMW, established in1998(Ahani and et. al., 2019). They are adopting various marketing strategies to know variousfactors like technologies, changing trends in consumer behaviour, and environmental factors.There are various marketing functions in which managers play a important role andresponsibilities which are described below:-Gathering and analysing market information– It is an important function inmarketing to gather and analyse the market information. In this function Rolls-Royceneeds to understand that what do customers want to purchase, with which features and atwhat price they want to buy products from the company. Moreover, manager can also
find various opportunities and threats towards their business. This gathered informationhelps them to make their strategies accordingly so they can sustain their position in themarket for long period of time.Marketing planning– In this function a company needs to make plan regarding thathow they can increase their sales, profit, and promotional activities etc. Moreover, acompany should make a solid marketing plan for knowing about their company’s valueproposition, information about their targeting markets and customers, comparativepositioning of their competitors, promotion strategies, distribution channels, and budgetdecided for the plan. As Rolls-Royce is related to automotive company so they shouldanalysis all the factors which can impact customer's needs. In this company managersshould concentrate that which cars are preferred choice of customer, what the changesthey want in the technology and many others(Ahani and et. al., 2019).Product designing and development– This factors comes after analysing the marketand making the plan for faster selling of the products. In this factor a company isconcerned about their products designing and development. In reference to Rolls-Royceis concern about their car designing, as auto mobile company has to invest in theircompany so manager should try to produce that cars which can provide great satisfactionand comfort to its customers. On the other hand, managers are responsible for themarketing for their company, they should concentrate on product designing in order tomake the product attractive to the customer as well as better than the competitors. In thiscase manager should adopt those marketing strategies which helps them to increase theirsales and brand value.Branding– Every company wants that, the products of their company have some specialidentity in the market. If a company want to differentiate their products from theircompetitors and want to build customer loyalty and interest in their products so they haveto give their products a brand name. In case of Rolls-Royce, they have their own brandvalue in the market, so they can easily attract their customers to purchase their products.On other hand, managers although do various activities like advertisement, promotionsactivities to increase their products sell and to increase their brand value.Customer support service– If any of the company want to succeed in the market thentheir first priority should be their customer's satisfaction. As Rolls-Royce is one of the
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