Marketing Essentials: Understanding the Role and Interrelationships of Marketing

Unit 4 Marketing Essentials
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Table of Contents
Introduction......................................................................................................................................4
Part 1................................................................................................................................................5
LO1 Explain the role of marketing and how it interrelates with other functional units of an
organisation......................................................................................................................................5
P1 Explain the key roles and responsibilities of the marketing function....................................5
P2 Explain how roles and responsibilities of marketing relate to the wider organisational
context..........................................................................................................................................8
M1 Analyse the roles and responsibilities of marketing in the context of the marketing
environment...........................................................................................................................10
M2 Analyse the significance of interrelationships between marketing and other functional
units of an organisation..............................................................................................................12
D1 Critically analyses and evaluates the key elements of the marketing function and how
they interrelate with other functional units of an organisation..............................................13
Part 2..............................................................................................................................................15
LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve
overall business objectives............................................................................................................15
P3 Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives......................................................15
M3 Evaluate different tactics applied by organisations to demonstrate how business
objectives can be achieved.....................................................................................................17
LO3 Develop and evaluate a basic marketing plan.......................................................................18
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P4 Produce and evaluate a basic marketing plan for an organisation........................................18
M4 Produce a detailed, coherent evidence-based marketing plan for an organisation..........20
D2 Design a strategic marketing plan that tactically applies the use of the 7Ps to achieve
overall marketing objectives..................................................................................................21
Conclusion.....................................................................................................................................23
References......................................................................................................................................24
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Introduction
In this report work, an in-depth analysis of the marketing will be covered. A close study would
be done on the marketing roles and its interrelation with the other departments units and
operations of the company. With a view to expand the business operations of Your Destinations,
the role and importance of marketing become very important. With the completion of this work,
there will be a better understanding of marketing and its role and importance for Your
Destinations. Also, it will cover various responsibilities and roles of the key marketing functions.
With the help of this, Your Destination would be available to make decisions for its marketing
mix plan and strategy. It will cover the analysis of the responsibilities as well as roles of the
marketing mix in. This report has been examined 7P’s of marketing. With the use of 7P’s of the
marketing mix, a marketing plan would be formulated for the organisation. A detailed, coherent
and detailed plan would be formulated for Your Destinations. With the help of this overall
report, Your Destination company would be able to gain a competitive edge in the market which
would benefit the whole organisation and help in the smooth expansion of Your Destination in
other parts of the country.
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Part 1
LO1 Explain the role of marketing and how it interrelates with other functional units of an
organisation.
P1 Explain the key roles and responsibilities of the marketing function.
In today’s era of stiff and cut throat competition, it becomes very necessary for the business
organisation to possess something special in them that it works as an asset for the organisation
and can help the business in getting a competitive edge in the industry. The something special
feature or factor is the strong marketing strategy of that particular organisation.
Marketing can be said a set of activities which are focused to increase the value for the
customers as well as for the organisation. It can be treated a sum total of all the activities which
are carried on by the organisation to build the desire of buying a particular product in minds of
the customers. In other words, the marketing function is an organisational function that aims at
promotion, distribution, the sale of organisational products and services (Pride, et. al., 2012). It
helps in building sound customer relations and attaining customer loyalty.
Roles and responsibilities of marketing
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Role of
marketing
market
analysis
Smooth flow
of products
and services
Optimal
utilization of
resources
Increase
awareness
Increase
efficiency Goal
achievement
Creating
customer
value
Knowing
customer
perception
Forecasting

(Figure: 1 roles and responsibilities of marketing)
(Source: By Author)
Creating customer value
The foremost responsibility of marketing helps in creating value for the customers. The creation
of values help in attracting the customers in the organisation and it will help in building an urge
to purchase organisation products and services. At Your Destination Company, the creation of
value will help the company in many folds as by attracting more and more customers in the
company, it can achieve the target of its expansion in other parts of the country.
Goal achievement
Marketing can help in achieving the organisational goals and objectives single headedly. It can
be achieved as it will help in creating awareness in the market that in turn help in building
demand and demand can lead to increase in sales and services (Armstrong, et. al., 2015).
Ultimately, the organisational goals can be achieved easily.
Increase awareness
Marketing activities are carried on to increase the level of awareness in the market. The
promotion activities are centered at increased the knowledge and spread awareness about the
services. A great level of awareness will help in creating a high brand image and creating a
strong customer base.
Optimal utilization of resources
Marketing activities can help in optimal utilization of the company resources. It can be ensured
by avoiding duplication and overlapping of work (Goetsch and Davis, 2014). It will help in
cutting down the cost and increasing profit margins.
Knowing customer perception
Customers are the ultimate king of the market and the marketing activities are centered towards
them and ensuring their development is the main target of the organisation. Customer perception
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