Marketing Essentials

Marketing Essentials

INTRODUCTION
Marketing is the most important tool in the developed industries. It includes
the knowledge of market place, demands of consumers, building profitable
relations, customer driven market strategy and provide quality among the
customers. The business organizations have analyzed the importance of customer
relationships and they are taking initiative to get a creative approach towards
marketing strategy in the business. The knowledge related to marketing essentials
is too high in the recent market environment around the world. The key concepts of
marketing startegy include situational analysis of the company, competitive
analysis, market research, marketing mix etc. This report focuses on the marketing
essentials in business organization. It describes the roles of marketing and their
interrelations with the other functions of business organization.
TASK 1
a) Key roles and responsibilities of marketing function
Marketing function can be described as the roles of the business organization which helps
in identifying and source potentially successful products in the market and also helps in
promotion. They are the common functions in the organization and include marketing research,
product plan, development process, promotion, sales, etc. The functions are responsible for the
growth of the organization and involve strategy management, marketing research, sales support
system, distribution system, etc. The key roles and responsibilities of marketing function are
market research, finance, product development, communication, etc. They have the important
role in the business organization. Marketing functions have a close link with other organization
function within the workplace. Universal functions of marketing are buying, selling,
transporting, storing, standardization and grading, financing, risk taking and market information.
The relation between the market functions and other functions shows the connections of
functional unit with each other. This can be described as marketing are required to backup by the
other operational departments as well as to perform effectively. When a company formulates a
plan they need the help of the production department, human resource department and sales
department of the organisation. Further more if the Tesco team want to give a discount offer on
larger quantity of purchase of the product for example buy 3 get 1 free scheme, then the
organisation needs to coordinate with the production department and finance department first.
The marketing functions are treated as separate identity within the organisation but to increase
the productivity the organisational departments connects together. The main objective of the
firm is to increase its profit and it can be achieved only if the departments of the company work

together. Thus all, the functional departments of the company works together to create a
successful market plan in the organisation.
b) Concept of marketing, including the current and future trends
The marketing concept is subdivided into five concepts which describe the centre of
marketing at Tesco. These markets concepts include the current and future trends for a successful
market plan. The concepts of marketing are: production, product, selling, marketing and societal
responsibility.
Production concept: This concept is based on the thinking of the customer, which shows
that the customers are bended towards the low cost products with high quality.
Product concept: Under this concept the customers choose a product which is easily
affordable, quality and innovation.
Selling concept: Promotion is the major tool for selling a product and customers
purchases products which are assertively promoted in the market.
Marketing Concept: The marketing concept elaborates the need of concentration over the
targeted customer for the distribution of goods and services. Moreover to have a competitive
advantage, the company needs to produce better value of products and services.
Societal Marketing concept: This concept depicts the focus on the targeted customer
needs so that the consumer will choose their product over the other products brand in the market.
c) Roles and responsibilities of marketing with respect to marketing environment
The marketing management refers to the process of planning and implementation of the
different concepts of marketing. The marketing concept includes pricing, promotion, distribution,
sales, etc. The roles of marketing are discussed.
Market strategies: The major role of the marketing shows the development of marketing
strategies and planning for the organisation. The needs and requirements of targeted customers
must be analysed by the manager of the company so as to give satisfaction to the customers.
Marketing information system: The marketing information system provides information
related to different factors such as product, planning, implementation, controlling of the
marketing strategies.
Monitoring of market environment: Marketing have a major role in the determination of
new innovations in the marketing environment, these innovations provide a good response to do
innovation in the products and services of the firm.