Assignment on Role & Responsibilities of Marketing Functions
16 Pages4611 Words233 Views
Added on 2020-06-03
Assignment on Role & Responsibilities of Marketing Functions
Added on 2020-06-03
ShareRelated Documents
MARKETING ESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.key roles and responsibilities of marketing functions.........................................................12. Key roles and responsibilities of marketing related to TK MAX.....................................33.Key roles and responsibilities of marketing regarding the context of marketing environment.................................................................................................................................................44. significance of interrelationships between Marketing & other functional units of anorganisation............................................................................................................................55. evaluate the key elements of marketing functions.............................................................6TASK 2............................................................................................................................................71. Different ways to marketing mix to marketing planning process......................................72.Different tactics applied by TK-MAX ...............................................................................8TASK 3............................................................................................................................................9Basic Marketing Plan.............................................................................................................9Detailed coherent evidence based marketing plan..............................................................10Strategic marketing plan that applies 7P's............................................................................12CONCLUSION..............................................................................................................................12REFERENCES .............................................................................................................................13
INTRODUCTIONMarketing is define as the process in which product is made with the aim of satisfying theneeds, wants and wishes of a customer. It includes adoption of marketing mix such as product,price, place, promotion, people, process and physical evidences. These are the factors thatdetermines a plan and a layout that can be effectively implemented by providing the appropriateproducts for the targeted segment of the customers along with the promotional strategies forpromoting these products among the potential customers so that they can accomplish their goalsof increasing the sales of their product and services. This is the major goal for everyorganisation as it they want to retain in a market and provide a strong competition to othercompetitors who are providing similar kinds of products by creating a differentiated productswhich can help them to get a recognition in the market. Marketing plays an effe3ctive role fro thepromotion of the product in the right way and also providing certain basic market plans whichincludes the marketing research , forming the financial budget required for various activities(Mishra and Modi, 2016). TASK 11.key roles and responsibilities of marketing functionsThere are many key roles and responsibilities of marketing functions in TK-MAX whichare discussed as follows:StrategyThe member who is senior in the marketing department of TK-MAX takes theresponsibility for strategy formation and objectives. The strategy can be related to methods forincreasing marketing share in a defined market which includes certain activities like entering intoa new sect or, opening up a new marketing channel for distribution like internet for reaching awider range of geographical market .These strategy are the basic planned series of activitieswhich helps the company to achieve the desired goal and provide a suitable direction for it.These strategies help to reduce the efforts and cost required for every set of procedures forperforming certain task which is very important aspect for a successful plan TK-Max has certainplans and strategies regarding their products so that it can create impactful promotion of theirproducts among the potential customers in a market and help to regain new customers. Functionsof marketing make various strategies to make sure that each activity is performed effectively and1
smoothly and tries to plan in such ad way that it faces less obstacles (Huang and Sarigöllü,2014).Market ResearchMarket research is considered to be a major responsibilities for department of marketingin TK-MAX. With the help of research a company is able to identify all the market opportunitiesand can have a better understanding of customer's requirement. It also helps to analysis certainaspect of competitors such as their strength, weakness so that they can take appropriate actionsrelated to it and can make an effective strategies to compete with them in a particularmarket .These researches are carried out through studying industrial report. Market research isvery important as it provides the company an idea of what is the demand for the particularproducts and services they will sell in the market, what is the psychological perceptions of thecustomers regarding them, what are the factors which affects their choices and how organisationcan improve the chance of getting the priority among others in them mindset of every buyer ofthe segment which has been chosen. Market research studies the deep aspects which are ignoredby the company but can affect them in many ways such as their sales.Product developmentDepartment of marketing works with different teams which are involved in productdevelopment and are appointed externally and internally. This department has the responsibilityto analyse sales of products and services of TK-MAX and provides identification of gaps in therange of all services which are provided by company(Sheth and Sisodia, 2015). development ofproduct is very necessary to retain the customers as the requirement of the customers getschange according to the changes in the surrounding which leads to differences in the kind ofdemands for certain products, therefore to cope up with the changes one has to modify theproducts is that it can fulfil the changes in demands. Also new features attracts many othercustomer and helps to get a hold to those customers. These development can be done in theconcept of the product such as diverting the product into an organic criteria, changing theappearance of the product along with the variation in the strategy of pricing like providingdiscounts, giving some of on price for a certain period.Sales SupportIt includes the process of cooperation between various departments of sales and marketing whichenhances their performance and also speed up an important aspect which is business growth.2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing Essentials TK Max - Doclg...
|14
|3896
|56
(solved) Marketing Essentials TK-Maxlg...
|14
|4120
|77
Marketing Essential of TK-MAX company : Reportlg...
|16
|4013
|77
(solved) Marketing Essential For TK-Maxlg...
|12
|4060
|128
Marketing Essentials Assignment (Doc)lg...
|14
|4587
|167
The Marketing Growth Strategies of TK Max Essentialslg...
|25
|8493
|96