Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 P1 Evaluate key roles and responsibilities of marketing function..............................................1 P2 Roles and responsibilities of marketing relate to wider organizational context....................2 TASK 2............................................................................................................................................3 P3 Compare manner in which organisations apply marketing mix to attain business objectives .....................................................................................................................................................3 TASK 3...........................................................................................................................................7 P4 Produce and evaluate a basic marketing plan for an organisation........................................7 CONCLSUION..............................................................................................................................13 REFERENCES..............................................................................................................................14
INTRODUCTION Marketing is referred to the tactics which is adopted by business organisation to enhance their brand awareness and promote their services or products within market. It is carried out to gain attention of large number of people so that high revenues can be achieved without facing much complexities. This assignment is based on Amazon which is an America based e- commerce and cloud computing platform(Amri, 2017). Organisation was founded in 1994 and its head office is situated in Washington, US. This assignment is going to cover responsibilities and roles related with marketing function. Also, interrelation among marketing and other functional units of company are carried out. Marketing mix is performed to acknowledge the actual performance of business within marketplace. At last, a marketing plan is developed so that organisation can attain its desired objectives and targets in a timely manner. TASK 1 P1 Evaluate key roles and responsibilities of marketing function In business organisations, manager of different departments are given specific roles and responsibilities. Different roles and responsibilities related with marketing function of Amazon are discussed below:Settingmarketstrategy:Itistheresponsibilityofmarketingmanagertosetan appropriate marketing strategy for business organisation so that objectives and targets of company can be achieved in a timely manner(Bačík,Štefko and Gburová,2014). This strategy can either be related with entering a new market sector or offering new products to existing customers. If marketing department will not set an appropriate market strategy, products of company will not gain wide acceptance in front of customers. This can limits the business growth of company. Appropriate setting of market strategy will results in increased sales due to which high profits can be earned. Identifying customer needs:To achieve desired outcomes, it is important for a business organisation to acknowledge the requirements and needs of its customers in a proper manner. For this, it is essential for company to collect information about them after regular time intervals. Carrying out research to identify the needs of customers is the role of marketing department. If marketing unit in Amazon will not acknowledge the 1
requirements of customers, it will be difficult for company to offer those products that will be widely accepted by customers(Wirtz, Tuzovic and Kuppelwieser, 2014). Roles and responsibilities of marketing in market environment Developing marketing strategies: It is the role of marketing department of Amazon to develop various marketing strategies. This will benefits them in gaining high advantage over competitors. By these strategies, products or services offered by Amazon can be advertised in a proper manner. This will benefits in increasing revenues and sales of company. If marketing department in Amazon will not formulate effective strategies then activities will be performed in unorganized way that will results in revenue loss. Marketing in B2C and B2B B2B marketing stands for business to business marketing where individuals wants to emphasize on the logic of products and its features. In this marketing, other businesses or person have no personal emotions while purchasing a product. They prefer to purchase products after understanding their role and importance. B2C stands for Business to consumer marketing in which decision making of people for choosing a product is based on emotional aspect. Different customers have different demand due to which business organisation is needed to manage variety of distribution channels. Marketing Mix It is defined as a set of tactics, action and strategies used by a business organisation so that their products and brand can be advertised in a proper manner. There are 4ps of marketing that makes a marketing mix but some other elements are not included in this process so that effectiveness of business organisation in market place can be acknowledged more properly. These new elements are people, process and physical evidence. P2 Roles and responsibilities of marketing relate to wider organizational context There are various departments which contributes mutually to achieve organisational goals and objectives through performing allotted roles and responsibilities by taking support from each other. In Amazon, several departments are contributing equally which includes marketing, sales, finance, human resource etc. Here are the interrelationship between these departments to achieve organisational goals and objectives. HR and Marketing department:HR department of Amazon have responsibility to hire experienced and knowledgeable candidates so that effective workforce can be maintained at 2
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workplace. apart from that, marketing division of Amazon have responsibility to promote or advertise the vacant job positions through using different job portals i.e. offline or online. therefore, head of HR division have responsibility to provide attractive job description to the divisional head of marketing so as to inviting large number of eligible candidates for the vacant positions of organisation(Blythe and Martin, 2019). Thus, these two departments of Amazon if performed together then the possibilities of achieving organisational goals and objectives within pre-determined time period are high. Marketing and Finance department: Finance division of Amazon is responsible for forming budget or allocating resources for funds so that all functions of organisation could be carried out effectively. Whereas, marketing department of Amazon have duty to provide assistance to finance division so as to determining ways of arranging funds. Coordination among these divisions are beneficial as they supports the organisation in maintaining their brand image and achieving desired goals(Brassington and Pettitt, 2013). Marketing and IT department: IT department in Amazon is held responsible to manager and implement IT equipments and machinery which makes easy for the employees to work with more productivity and efficiency. On the other hand, Marketing is held responsible to market the products and services in order to influence buying behaviour of customers in favourable manner. Along with this, conducting market research by which they determines the latest technologies which are more in trend so that the manager put efforts in proper implementation at workplace with an objective of enhancing performance level of employees in Amazon(Desai, 2013). The marketing department also provides the information regarding latest equipments and software to the IT department so that the it would implement them at company for enhancing its the productivity and performance in market. Marketing and sales department:The sales department of a company is responsible for selling the products and services to the right customers in a timely manner so that organisation can achieve high revenues and profits. Marketing department of Amazon helps the sales department in identifying which products are in high demand so that they can be stocked and sold to people in large quantity. In this context, both department work together to enhance the revenues and market shares. If both of these department do not work together, then it will be difficult for company to achieve their sales target. 3
Marketing and R&D department:Role of R&D department is to carry out research in market so that new products and services can be offered to customers in a timely manner. In this work,marketingdepartmentbenefitsR&Ddepartmentbyacknowledgingtheneedsand demands of customers in a proper way. This will allow the amazon to identify the needs and expectations of customers in a proper manner so that high revenues and profits can be earned. TASK 2 P3 Compare manner in which organisations apply marketing mix to attain business objectives Marketing mix is defined as a strategic marketing tool which involves various marketing tactics that results in rising of revenues and profits for an organisation. To measure their current performance in market, Amazon is going to compare their market mix with eBay which is also an online platform offering products at global context: BasisAmazoneBay ProductCompanyisarenownede-commerce company uses internet connection as a medium so that customers can get their services or products in a easier manner. ProductsofAmazoncanbeeasily orderedthroughphones,tablets,PC, phones etc. Company has a large product linethatinvolvesDVD's,books, console,kindle,jewellery,mobile phone,householdproducts,wearables formen,childrenandwomen. Organisation has achieved the award of highest book seller in worldwide. Kindle which is a gadget to read e-books is also afamousproductofAmazon.This productallowthecustomerstoread books in a digital manner. In the year of ebay is a popular online and digital platform for people to sold and buy services or products in global process byfollowingsimpleprocedures. Organisationspecialisesinoffering uniqueandimmediateselling procedures to their customer base. It provides a wide market for the sale of good and services. Different products whichareofferedateBaysitesare Decor,furnishings,homeandoffice appliance, computers and other goods ofdailyuse.Also,companyoffers services like bill me later so that a securepaymentcanbemadeby customersthroughweb.Besidethis, Rent.comisafamoussubsidiaryof 4
2014,companyhasshiftedtonew product base i.e. mobile phones. Sellers from worldwide are allowed to sell their products via Amazon. Some of the basic servicesofferedbyAmazonare Amazon devices, AWS, Alexa, kindle publishing, Amazon prime, prime video, Fashion,Amazonmusic,wholeFood products etc. eBay which is a rental site. Other than this, other services which are offered by thiscompanyareHalf.com, shopping.com, StubHub, Skype(Joshi, 2012). priceMain motive of Amazon is to convince customersfortheirgoodquality products. In context with other online platforms which sells good via internet, profitmarginsofAmazonare considerably less but their sales are high. In this context, company provide their products at competitive pricing to give toughcompetitiontorivals.Also, company uses cost leadership strategy to pricetheirproducts.Inthisstrategy, products are given at less rates. To target high class people by offering branded products,companyusespremium pricing strategies. Beside this, company providesofferanddiscountstotheir customer base so that overall sales of company can enhance considerably. Main pricing strategy used by company is cost leadership where low prices are chargedforproductsincomparison withrivals.Forsomeproducts, organisation has a fix price format so that buyers and sellers are able to close financialtransactionsaspertheir comfortableness. Beside this, company is known for using Auction style format where minimum prices for open biding are chose by seller and products are sold in accordance with that bid. Sellers at eBay uses different pricing strategies likepromotionalpricing,economic pricing,psychologicalpricing. Companydonothaveafixedand standardised shipping cost which is a loss in context with company. PlaceCompany operates in a global context due to which they have a big distribution eBayisane-commerceorganisation whichusesdigitalmediatoachieve 5
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andfulfilmentnetwork.Otherthan managingtheirbusinessthrough businessandmobileApps,company have their warehouses to offer products tocustomers.Thesewarehousesare called as fulfilment centres. In present situation, company has more than 175 fulfilmentcentresglobally.When company has started working initially, they do not have any physical stores and organisation relies solely on online sales. Butin2015companyopenedup convenience stores and book stores at some locations. Services like prime free one day and prime free same day are available in more than 8000 cities. their business targets. This is the reason services of company are available in any part of globe. By having link with internetandsomepaymentmethods like PayPal, customers can easily buy productsofferedbycompany. Populationfrommorethan195 countries order products from mobile appandonlinewebsitei.e. www.ebay.comof company. At present firm has no online stores and goods are available through online sources only. Duetoitemdescription,delivery preference format of listing company easilyprovideproductstotheir customer base. PromotionIn order to promote their products in a desiredmanner,organisationuses variouspromotionalstrategieslike advertising,salespromotion,public relation,directmarketingetc.Also, organisation also advertise about online mediums to pay so that customers can do cashless transactions. Mainly company use social media tools like Facebook, Twitter,Instagrametc.sothatmore numberofcustomerscanbe acknowledgedabouttheirproducts without paying large amount. Thiscompanyusesvariouskindof media to promote their products. This helps the company in creating a strong imageinmindsofcustomersand company is able to acquire high sales. Printing, online ads, TV, radio, internet andsocialmediaaresomeofthe mediumsthroughwhichcompany promotes their products. Company also changetheirorganisationallogoin 2012 so that attention of customers can be grabbed more easily. ProcessAmazon has a strong process system inThis company has varied processes for 6
context with managing business. As a leaderine-commercefield,company hasadopteddifferentprocesses.In contextwithoperationalefficiencies, organisationisstrategicallybifurcated intowarehouseandcentres.Also, companytakehelpfromadvanced technologytointeractwiththeir customers and managing daily tasks of company.Companyhasformed associations with social media tools like Twitter due to which products can be addedtocartwithoutdownloading authentic application of company. their business and customer base so that onlygoodqualityproductscanbe deliveredtothepeopleandtheir experience of online shopping can be enhancedappropriately.Frombuyer respective,companyhasanauction format where goods are given to people withhighestbidding.Fromthe perspectivesofseller,imageof productsandtheirdescriptionare uploadedsothatcustomerscanbuy them as per their needs PeopleAmazon gives a high consideration to their customers due to this easy return andreplacepolicesareadoptedby company.Employeesworkingin Amazon at each level are given benefits anddiscountssothattheycanfeel motivatedandgivetheirbest performance(Khan and Adil, 2013). Atpresentfirmhasemployedmore than 12,5000 people. As company have accesstomultichannelinventory, highestnumberofemployeesare employedinlogisticsdepartment. There are 12 categories of job in eBay departments. Due to this, company is flexible and workforce of company is highly satisfied from them. Physical evidence Main physical evidence of organisation isitsmobileapplicationandwebsite throughwhich90%ofbusinessof company is managed. Other than that the warehouses and fulfilment centres are otherkindofphysicalevidencefor companies.Revenuestatementsand Companyhastheirwarehousesand fulfilment centres which are their main physical evidences. Also, official site of their company acts as a main physical evidence.Boxes,packagingsites, locations where products are returned orreplaced,websiteofeBayare 7
financial reports of company are some other physical evidences. physical evidence for company(Mihart, 2012). Company can open up more stores at different prime locations so that their revenues and sales can enhance in a considerable manner. Proper training to workforce will benefits in satisfying the changing needs of consumers in a proper way due to this company will have a strong brand image in market. All of these tactics will be beneficial for Amazon in achieving their business targets and objectives. TASK3 P4 Produce and evaluate a basic marketing plan for an organisation Marketing plan: It is a operational document of the business which outlines the marketing strategy and tactics that a company is going to use in near future.Marketing plan is the blueprint for executing marketing activities. The marketing plan for the amazon is as follow : Executive summary- Amazon is a American based multinational company that focuses on e-commerce , cloud computing, artificial intelligence and digital streaming(Long and Jerath, 2018). It is one of the big four companies along with Apple, Google and Facebook. Amazon uses the tool marketing mix for new product development ,to increase product portfolio, to become dynamic, to improve business and to become different from its competitors. IN the year 2015, Amazon surpassed Wal-mart in terms of market capitalisation. The company is employing more than 847,500 employees throughout the business operations inall over the world. Amazon has decided to launch a new brands of grocery stores that will make amazon distinct from all its retail giants(Muralidharan and Raval, 2017). This appears that amazon want to grab a larger sector of the market by offering a wide range of Organic coffee in these grocery stores by keeping the choices of customers in mind. This retail giant has focused this sector as large portion of the economy is not comfortable now a days in purchasing coffee they seeks to have some healthy brands of coffee by lunching this new product Organic coffee Amazon can increase there profitability in the market. Marketing plan for this is very essential. For this Amazon needs to focus on each and every sector such as SWOT 8
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analysis of the new product , segmentation , targeting and positioning of the product , marketing mix and all those macro economical factors which would affect it. SWOT ANALYSIS : SWOT stands for strength , weakness , opportunities and threats .SWOT is a strategic planning which is generally used by companies or person to know their strength and weaknesses and what are the opportunities and threats available to them . This would help the company in analysing its strength, all those areas that are weak and needs to be focused. The SWOT analysis of amazon: Strengths Amazonisa globalfirm havinghuge customerbase duetowhich company enjoys the top ofthemind recall from the customers whichisnot easyforthe competitors firms. Weaknesses Thebusiness modelof onlineretail storeis imitable due to which any firm canenterin thissector. Thereare various suppliers in the marketwhich exist in online retailingsuch asFlip-kart& Noble,etc. Opportunity Amazonhave the opportunity to become the firstprovider oforganic coffee. . Threats therapid changeinthe tasteand preferenceof thecustomer candecrease the profit level of the amazon . Thecompany ishaving superior logisticsand Thecompany hasrecently introducedthe freedelivery companyhas the opportunity togrowas therearefew Lowpricesof newentrants can be a huge threattothe 9
distribution systemsfor providing their products to the customers in an effective mannerwhich has resulted in Amazon deriving competitive advantage over its rivals. duetowhich theprofit marginofthe companyis reducingin several countriessuch as India. marketersof theorganic coffeeinthe market , it may coverlarge market segmentand canincrease profitability businessof amazon. Situation: PESTLE ANALYSIS PESTLE stands for political, economical,social,technological,legal and environmental. This is a techniques or we can say tool which is used by marketers to identify the external forces that impact the businesses . These basically involves macro external forces . PESTLE analysis is generally used by the new entrance or for trading with the foreign market. Political: Amazon benefits from political stability,this will help the company in expanding it business across UK with the help of government intervention . Amazon can survive in UK online market and can earn higher profit as the government policies over UK does not change rapidly(Nicholls and et. al., 2013). Economical: The function of the company depends upon the situation of the economies. If the economy is going through the war of inflation it will lead to increase in the growth rate and profitability of the Amazon. Social :These factors are those which involves customers belief , socio-culture and their changing preferences. This also affects the Amazon as customer preferences changes overa time due to which they may shift to other online business which may lower the goodwill of Amazon. As it meet all the ethical changes and ensure smooth trade between suppliers and 10
customers . Customers perceptions towards the products and services Amazon has higher the development of company(Ogunmokun, and Hsin Tang, 2012). Technological:It involves the rate of technological innovation and developments that could affect a market and industry . It focuses on technology incentives ,the level of innovation , automation, research and development activities . The company like Amazon needs to focus on what is going technology wise . If it works with the technology that is not favourable according to the trend then its production level will be affected. Legal :Getting registered for its patent and copyrights may help Amazon to increase their sales and avoid the sale of fake products with their names which will help them in maintaining the quality of products and services. Environmental :Amazon business is also affected by the environmental factorsit can beeitherrisinginterestinenvironmentalprogrammes,risingemphasisofbusiness sustainability. OBJECTIVES : Amazon needs to have smart objectives for the launch of new product that is organic coffee. It should be specific,measurable,attainable,relevant and time bound. Specific: The company aims to increase its relative market growth and share from 60% to 80% by launching new product in the market . Measurable : Here the company is planning to measure its performance by the standard that they have set to its actual performance. Attainable:This product will be developed by Amazon due to which company has decided to hire employees for starting the production on large scale. Also leaders will follow participative leadership style(Pappas, 2017). Relevant:The company is aiming to enhance the market share of the company along with the profit and sales so that company can sustain in the market for longer time duration. Time bound:The company has estimated a time period for the success of this new product in around 3 months. STRATEGIES: Segmentation: Amazon offers a wide range of products or services. Successfully exploiting more than one sector . For new product it will consider the demographic factors which 11
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involves the age group , gender , occupation as to increase their profitability. Age group 18 – 25 are the one who will consume more organic coffee as to stay healthy and fit. Targeting: The company is targeting the customer who are more conscious about their fitness who only consumes organic product to keep themselves healthy(Pike, 2015). It also focuses on the consumer who are gym freak as this coffee provides them with some kind of energy and works as a protein to them. Positioning:Amazon is positioned as a global market which facilitate shopping through the customized experience. These are the tools of marketing plan which will help Amazon to increase their business by evaluating the market conditions and would also help them to establish a standard for their competitors to compete . By this amazon can also understand how to advertise there product in the market which promotional tool should they adopt and which marketing activity they should execute to carry out the operations. Action plan Marketing mix: Amazon is a American based multinational company that focuses on e-commerce , cloud computing, artificial intelligence and digital streaming . It is one of the big four companies along with Apple, Google and Facebook. Amazon uses the tool marketing mix for new product development ,to increase product portfolio, to become dynamic, to improve business and to become different from its competitors(Pudaruth and Nursing, 2017). Product: Amazon has built up a huge product base and sells almost everything . The company has decided to launch a new product in the market that is organic coffee to cover up the large market share. Price: The company will try to adopt the cost leadership strategy in which the pricing at the initial level will be low. Place: Amazon will operate its organic coffee business inMyanmar, Iran, Cuba and some part of North America. Promotion:Amazonwill use aggressive marketing campaigns ,online advertising and direct marketing to promotes its products in the market. Forecast Cost:Cost for the production of new product is discussed below: ParticularsAmount (€) 12
Marketing100000 Workforce100000 Equipments150000 Raw materials150000 Sales: The company is estimating increase of double digits in the sales of the products provided by the company. Profit: The company has also estimated increase of 20% in the profit which can be achieved through this new product. Market share:The company is forecasting that 10% of more market share will be covered by launching this new product in the market. Control To control the operations of an organisation, the management of Amazon need to make decision regarding adopting measurement tools such as KPI(Simkin and Dibb, 2013). This will help in comparing the past performance level with the present performance level to achieve growth and success for its new product. CONCLSUION From above mentioned report, it has been concluded that marketing department of a company plays a vital role in the success and growth of an organization. There are different roles such as promoting and advertising products, conducting market research etc. which are played by marketing. With the help of appropriate interrelation among marketing and other department, organizational work can be performed appropriately. With the help of marketing mix, an organization can acknowledge its performance in marketplace and marketing plan benefits the company in achieving desired sales. 13
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