Marketing Essentials Assignment - Barclays firm

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P.1 Role and responsibilities of marketing function of Barclays ..........................................1
P.2 Role and responsibilities of marketing related to wider organizational context .............3
TASK 2 ...........................................................................................................................................4
P.3 Comparison of use of various elements of marketing mix ..............................................4
TASK 3............................................................................................................................................8
P.4 Evaluation of marketing plan ..........................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is a method in which seller sells goods to all buyers. They create goods
according to needs and choice of all customers (Arguello, 2013). Thus the firm can deliver goods
to all buyers . Hence as a result company can easily generate more revenues and they can
increase the market share. It also help the firm to expand their activities in various parts of
country. Thus they can maintain positive image in market. Assignment describes about the
Barclays firm which provides financial and banking services to all people. It was established in
U.K. In 1690. Report explains about role and responsibilities of marketing . It also describes
about comparison of marketing mix of both organizations. It also describe about developing and
evaluating the basic marketing plan.
TASK 1
P.1 Role and responsibilities of marketing function of Barclays
Marketing is a process in which goods are sold to buyers. It helps the company to identify
requirements of all users and thus they can easily sell goods to all consumers. It also helps the
organization to promote various products and services. It helps the firm in earning of more
revenues. Thus it can create distinct image in industry. The role and responsibilities of marketing
in Barclays:
Determine needs of all users: Company can easily identify the needs and wants of all
buyers. Thus it can offer all services according to requirement of all customers. Barclays can
offer loan and can give credit card. They can give equity shares to all people and they can also
provide insurance and credit card to all people. Thus company can easily fulfil the needs and
requirements of all users. Hence they can earn more revenues.
Exchange of financial services: Firm can provide various services to all people.
Company can deliver various services such as withdrawal and acceptance of services. They can
also give advice related to investment in equity shares and derivatives. They can provide
suggestion related to loans which can be given to various users. Hence as a result it can enhance
the level of satisfaction of all customers. It leads to increasing of profits. Barclays can also
expand their operations in many parts of countries. Marketing helps the firm in acceptance and
withdrawal of money.
Scan environment: Marketing helps in scanning the environment (Baker and Magnini,
2016). Thus company can easily find the internal and external factors which can affect the
1

operations and activities of company (Blythe, 2012). It has to create policies according to
managers and owners. It can give various advices to users regarding loan and other securities and
hence it can directly fulfil needs of customers. They can also create such plans and policies
according to political, social and other external factors. Through this they can directly earn more
revenues and can expand their business. It also helps Barclays to beat the competitors.
Evaluating target market: Marketing also helps the Barclays to target a particular
market. This helps the firm to create effective positioning strategies so that it can directly fulfil
all requirement of all users. Thus form can easily segment the whole population on basis of
various criteria such as geographical, behavioural, income and psychological basis. Thus after
this they can target to a particular section such as youths. Hence as a result they can create
effective strategies so that it can fulfil demand of youth people.
Market research: Marketing directly helps the company to easily fulfil needs of people
by performing the market research. Thus Barclays identify the demand and needs of people and
then provide services. They can give provide services according to preferences of all people. For
example Barclays can provide loan at cheaper rate as compared to rivals. They can also provide
better advice related to investment of their money in equity shares and other securities so that
they can generate more revenues. Hence as a result they can easily earn more revenues and thus
it can maintain positive image in market.
Growth of business: Marketing helps the company to identify needs of all people. Thus
they can directly satisfy needs of people by giving better advices related to loan and investment
of their money in various securities. Thus as a result it can enhance the satisfaction level of all
users. Hence it can earn more revenues. Thus it leads to growth and development of business.
Hence it leads to success of the business.
Price: Marketing helps in setting a suitable price for the product and services. Thus
Barclays can set a suitable price for all schemes and services which is given to all users. Thus as
a result they can easily attract many users.
2