Influence of Marketing Strategies on Firm Performance

This assignment examines the relationship between different marketing strategies and a firm's overall performance. Students are tasked with analyzing various research articles that explore this topic, focusing on how strategic planning, online marketing, and customer relationship management contribute to business success. The analysis should highlight key findings and offer insights into the effectiveness of various marketing approaches in driving organizational performance.

Marketing Essentials

Table of Contents
INTRODUCTION ...........................................................................................................................................3
TASK 1..........................................................................................................................................................3
P1 Roles and Responsibilities of marketing function .............................................................................3
P2 Marketing function and its contribution in organizational objectives ..............................................5
TASK 2 .........................................................................................................................................................6
P3 Marketing mix comparison between two organization ....................................................................6
P4 Marketing Plan for Your Destination.................................................................................................9
CONCLUSION ............................................................................................................................................12
REFERENCES ..............................................................................................................................................14

INTRODUCTION
Marketing is the activity which is related to company which helps in advertisement of
goods and services of company. It includes the activities relating to advertising, selling and
delivering of product to people. The main aim of the marketing department is to attain the
attention of customers towards their products by using slogans, packaging design, media
exposure etc. (Haiyan and Jianwei, 2011). Marketing activities helps the organizations to earn
higher profits in future. In this report discuss about, Your destination which deals in travel and
tourism sector. It provide various offers to customers related to different destinations.
In this present report explain about, role and responsibilities of marketing functions.
There also discuss about comparison of marketing plans in two different organizations (Khan
and Adil, 2013). Here also discussed about role and responsibilities of marketing departments in
wider organizational context.
TASK 1
P1 Roles and Responsibilities of marketing function
It is significant for business organization is to develop an effective and appropriate
product and services for its customers. This required a suitable marketing department which
incorporate all marketing function and provide competitive edge over others. There is various
function such as market information, marketing planning, product design and development,
product distribution, product distribution, financing, advertising, customer support etc. (Negi and
Ketema, 2010). In the context of Your Destination, which required to plays a vital role in growth
and development in the longer run.
Market information: This is one of the key function of marketing which is related with the
gathering different data from the market. This information can be belonging to customer new
demand, competitors, new trends and technology and so on. Therefore each and every company
is tries to collect these data by using various methods and tools. For example, Your Destination
wants to launch a new bus service for their customer (Ogunmokun and Tang, 2012). For this,
they required to conduct survey which helps to get the right information and changing needs of
their customers. It will helps in designing and producing such product and services which satisfy

these needs and increase customer loyalty. Additional, cited firm also can be used feedback from
its existing customer and modify their service or improve in an effective manner which is very
crucial in the longer run.
Figure 1: Marketing Versus Sales
Source: (Marketing Versus Sales – What is the Difference?, 2011)
Marketing planning: This is another function which is related with the planning all activities
and strategies in advance in order to offering a product and services to the market in an effective
manner. It is a systematic process which start from market research to the implementation and
control. This is one of the most competitive and complex task for a company to develop an
effective marketing plan in given period of time. In the context of Your Destination, who wants
to expand its business required is to create such plan which can provide edge over its rival firms
and maintain consistent growth in the longer run. The role of a marketing department is to
understand the internal as well as external environment, forecast potential risk and meet their
marketing proposed objectives. For instance, cited enterprise use such function and develop their
plan for operate new branches in Manchester, Glasgow Newcastle and so on.
Product development: This is one of the integral part of marketing strategy to increase sales
and market growth of a company in the longer run. In this function a firm is tries to develop and
design a=new product and services as par the customer changing demand. This is a long term

process which involves creating new idea and transform in to a product for their customers. Your
Destination is transport service provider and they needs to develop such product which meet
future demand in an effective manner. For example, cited firm is operating their business in city
of London and other parts of UK. There are various customers who wants luxury bus service for
their transportation. In this case, firm can introduced such customized products which helps to
provide various facilities during their journey and satisfy customer need in an effective manner.
It also helps to increase their sales which leads to enhanced in market share. This is one of the
challenging function because needs are changing g over a period of time. Therefore, cited unit
required to collect and updated information as compare to its competitors and gain strategic
superiority in the long time. It helps to meet their short and long term goals and target in an
effective manner.
Financing: Each and every firm required finance to running out their business which is an
integral part of marketing function. This is one of the challenging task for an enterprise to
arrange capital form various sources at a minimum cost. Such amount required to implementing
their expansion plan, launching a new product or any other task. For a large organization it is
easy to manage capital from internal and external way. On the other hand, Your Destination
required to arrange their finance with analyzing both sources and tries to minimize cost of capital
which is very crucial as a small business enterprise. This function of marketing function helps to
identify way of collecting budget for their proposed expansion plan.
Promotion: This is one of the key function of marketing where a company tries to promote their
products and services by creating awareness. There are various tools and methods which can be
used by Your Destination and gain competitive advantage in the market. There are wide range of
activities involves in this function such as advertising, direct selling, sales promotion etc. This
element of marketing helps to promote product and services in an effective manner.

Figure 2: Marketing department Structure
From the above given structure, Your Destination having its own marketing department which
can be divided in to two aspects. These are:
Traditional marketing: In this department, company uses various classical approach in order to
promote their products and services. This can be categorizing in to two aspects one is public
relation which deals with the maintain a good relation with their stakeholders. On the other hand,
different advertising approach such as print media can be used by the cited firm.
Responsibility of traditional marketing manager:
To provide various information about Your Destination product such as price, discount or any
other specific information to the large number of people at a time. There are various print media
such as newspaper, magazines, poster can be used by the cited firm to provide information in a
cost effective manner.
Digital marketing: This is another function of digital marketing where a company is required to
use different social media tools such as Facebook, Instagram, You Tube and so on. to create
awareness in the market in an effective manner.
Responsibility of Digital marketing manager:
This is one of the crucial department in the company which focused on the digital media
platform and promote their products and services in an effective manner. The manager of such
department is responsible to manage harmonious relationship with its stakeholder such as

employees, customers. suppliers, investors, government etc. it will help to create an ideal image
in the public and meet their short and long term targets.
P2 Marketing function and its contribution in organizational objectives
There are various functions of marketing and they contribute in attaining firm’s goals and target
in an appropriate way. In the case of Your Destination, which having following aims and
objectives:
Mission and Vision
statement
Your Destination is providing safe and secure journey to their loyal
customer and maintain a good relation with them.
Goals and Objectives To expand their business in other cities like in Manchester,
Glasgow Newcastle and so on.
The firm also increase their fleet size by 30 percent in the next five
years.
To increase market share by 5 percent in the next 3 years.
The above mentioned aims and objectives, marketing department of Your Destination helps to
achieving them in an effective manner. These are:
Helps in market research: With the help of market information a company is able to develop and
design their product in a manner which satisfy customer demand. In the given case, cited firm
required to know about the price of its competitor offering in the market, range of services,
different destination across the UK and other European countries. These data helps to set a price
which can be lower than its rival firm and gain advantage in increase sales and market share.
Customer support: Today, all companies are customer centric, therefore, they need to expectation
of their customer. There are wide range of people who having its own demand and divided in to
economic, business and premium class. UK is one of the developed country having a wide range
of potential user from such segment. Your Destination required to make a support department
which conduct feedback on regular after the journey and the their satisfactions level. This is role
of marketing department is to analysis an evaluate these results which can help to increase
customer satisfactions level and create trust which is very significant for the start-up company
and its future growth.

Integrated promotional activity: There are various promotional activity which helps to create
awareness of their product and provide relevant information. Your Destination, required to
develop an integrated promotional campaign through various communication tools such as social
media, digital media and print media (Jenyo Gabriel and Soyoye Kolapo, 2015).
Product distribution: It is one of the key function which related with the distribute product to end
customers. In the case of Your Destination, having various destination such London, Manchester,
Glasgow etc. where they can sale its product in an effective manner. For instance, cited
enterprise can provide services through website or other online platforms to the end customer in
a limited time.
TASK 2
P3 Marketing mix comparison between two organization
It is essential for a business organization is to make their product attractive and competitive as
compare to its competitors which can provide edge in the market (Baker, M.A. and et. al., 2016).
Marketing mix one of the most suitable approach which helps to provide a long term growth to
their business and sustain in the industry which is very crucial. In the context of Your
Destination which is a new firm in transportation sector and needs to apply its elements in an
effective manner. Each and every firm having its own marketing mix which shows its uniqueness
in terms of various aspects in the longer run. There are following marketing mix of National
express, this is also a leading bus service in the city of London. Such enterprise is quite large as
compare with Your Destination.
Marketing mix Your Destination National Express
Product This is a small firm which
having a limited number of
bus as compare to other firm.
The firm having economic
class product which required
to increase new services
specially for the business
community.
The firm having a large fleet
of buses if different category.
They operating their business
in UK, USA and Canada.
National express one of the
oldest public transport
company which having a
large number of customers

and provide superiority over
others.
Price This element is related with
the pricing strategy. There are
various tactic regarding
pricing such as competitive,
premium, discount etc. Your
Destination is a small firm
which is not able to compete
with National Express in
price. Therefore, the firm is
using discount pricing
strategy for their loyal and
regular customer to sustain
them in the longer run.
On the other hand, National
express using competitive
price approach which attract a
large number of customer and
increase their sales. Further,
the firm also having their own
luxury bus service for niche
market and for them they are
using premium pricing which
help to increase revenue and
profitability.
Place It is related with distribution
channel of the company.
Your Destination having
various place such as London,
Cardiff, Manchester,
Glasgow and so on. The firm
is required for cited firm to
increase its destination which
helps to provide a consistent
growth in the longer run.
National Express having a
wide range of destination
network across UK and
European countries. There
major place includes London,
Cambridge, Manchester,
Liverpool, Oxford,
Birmingham and so on. The
firm also provide intra
country transport which is
quite economical for an
enterprise.
Promotion This is one of the key element
in the marketing mix. Your
Destination is using a wide
range of promotional tools
On the other hand, this firm is
a multinational corporation
which having enough
resources to promote their

such as social, digital and
print media. For instance, the
cited firm can be used
different social media tools
such as Facebook, You Tube,
Instagram, Twitter and so on.
Further, this company can
also use other promotional
mix such as direct selling,
sales promotion to informed
its potential customer about
their services in a more
appropriate and cost effective
way.
products and services in an
effective manner. National
Express is spending billions
of dollars in to advertising
and promotional activities
which helps to meet their
short and long term targets.
The firm sponsoring various
events and fair which such as
Football world cup, Cricket
and nay other sports event
which create an ideal image
in the market.
Physical evidence It is related with the material
owned by a company and
provide support in order to
running a business in an
effective manner. In the
context of Your Destination,
they having its own website
which contain all information
such as product, fare,
facilities, customer support
and other required elements.
This enterprise is quite larger
resources. The firm is having
contract with oil producer
which supply fuel at the
minimum cost which save
money and increase profit and
revenue in an effective
manner.
People Your Destination employed a
limited number of staff which
is highly skilled and
qualified. This will help to
provide effective customer
service to them (Baker and et.
National express having more
than 42000 staff across the
country. These people are
good and skilled which gain
competitive edge over other
firms.

al., 2010).
Process This is related with the
supply chain and overall
process of the company
which plays a vital role in
order to proving support
business practices. For
instance, the firm is having
integrated communication
system which allow
management to interact with
each other share various
information in a quick
manner (Dudzevičiūtė and
Peleckienė, 2010).
On the other hand, National
Express having a good supply
chain for their transportation
activity in an effective
manner.
P4 Marketing Plan for Your Destination
Creating a marketing strategy is plays a vital role for any business enterprise. Therefore, every
firm is trying to focus customer and their needs in order to developing long run relationship with
them. In the given case, Your Destination is required to develop an effective marketing plan
according to their short and long term goals and target (Shiu and Yu, 2010). This is a systematic
approach which involves following stages:
Mission and Vision: This is the first stage for every organization which required to make their
future direction and aims of its business. A mission statement is plays a vital role in order to
develop a long term success and sustain their business in ethical way. In the context of Your
destination, vision of the company is to gain life time customer loyalty through delivering a high
quality public transport and offer excellent value. There are following elements which involves
in mission and vision of the enterprise. These are:

Excellence: The firm is good in provide an effective transport facility to the public create a
sustainable business development model in the industry.
Safety: This is one of the key element of Your Destination and they promote a safe and secure
journey to their people.
Community: Through provide public transport, the unit is support growth and development in the
national economy.
Corporate objectives: Once mission and vision statement stated, the next stage in marketing
plan is related with the goals and objectives of the company which wants to achieve in the short
and longer run. According to the given case, Your Destination is growing company which wants
to expand their business in to other cities and increase their market base. These are following
corporate objectives of an enterprise (Negi, 2010). These are:
 To increase destination in different cities of UK.
 To expand business in other countries as well.
 To increase market, share by 5 percent in the next few years.
Marketing Audit: This is a comprehensive tool to analysis and evaluate marketing objectives,
goals. This is related with business environment and its influence on company current and future
performance. This is role of marketing manager is to understand various elements and provide
strategy to minimize potential risk on business. These factors can be:
Political factor: It involves government stability and its economic and policy decision making.
In the context of UK, which is politically consistent and promote ease of doing business in the
economy (Withey and Panitz, 2015). It helps to provide a long term growth to the of Your
Destination.
Economic factor: There are various elements such as GDP, per capita income, interest rate,
inflation rate etc. These all factors are change after sometime which having a large influence on
economic growth and development. For example, the per capita income in UK is approx. $34000
approx. which help to increase growth of their business in the future.

Social factor: This is related with the culture, population size, its growth and other elements. In
the context of UK, there are large number of people who prefer public transport and help to
maintain their sales in the future.
Technological factor: Innovation and technology plays a prominent role in the success for an
enterprise. For example, Your Destination can use social media for promote their products in an
effective manner (Musibau, Oluyinka and Long, 2011).
Legal factor: There are various laws and legislation issue and it’s a greater impact on business
practices. For example, national minimum wage act, 2017 should be followed by Your
Destination which is mentioned below:
Figure 3: National Minimum Wage
Source: National Minimum Wage, 2016
Environmental factor: There are various climate issues should be focused by each and every
business enterprise and provide sustainable growth and development of their business. Your
Destination, can be used eco-fuel which having less environmental impact on climate.
SWOT analysis: This is related with the internal factors such as customers, competitors,
suppliers, financial institutions, government and community (Ezekiel, Eze and Anyadighibe,
2013). Marketing manager of Your Destination can be used SWOT in order to identify
opportunities and threats:
Strength Your Destination is growing company in the transport especially
intercity and intra-city destination.
The customer service of the cited firm is high quality as compare to

other firms.
Weakness Small area of operation one of the major concern for the enterprise.
Limited capital which create problem in business expansion.
Opportunities There is various European market such as France, Spain, Germany
which provide future opportunities (Jenyo Gabriel and Soyoye
Kolapo, 2015).
Threats There is various player exist in the transportation which create
extensive competition in the market.
Developing strategies: This is one of the key stage where a company is developing strategies
such as marketing mix and promotional mix which already mentioned in the report. For this,
company can use Boston matrix and the overall product portfolio in to following aspects:
Stars This is considered one of the most competitive aspects for the
company and these can provide strategic edge over others. In the
context of Your Destination, they can determine those areas which
can provide superiority in the market.
Cash cows This is related with those products which generate consistent cash
for the company. In this case, enterprise required to provide more
focus on these areas and convert in to stars. There is various station
which generate a good amount of cash for Your destination and
helps to generate in an effective manner.
Question mark This is quite slow growth rate and consume a large amount of cash.
Your Destination can minimize their investment in these areas and
meet their short and long term goals.
Dogs This is related with the low growth and low market share and
company required to disinvest their capital. Your destination
required to identify such destination which having less visitors and

reduced their operation
Marketing Budget: There are following marketing budget in given below:
Marketing Activities Amount £
Primary Research 2500
Communication tools
Social media
Print media
1500
1700
Total 5700
Detailed action plan: This is the final stage of the marketing plan where a company should
implement overall and meet their short and long term target.
CONCLUSION
From the above mentioned information it has been concluded that the role of marketing is
very crucial and its helps to meet organizational objectives. This report explained about the
various marketing function such as market research, promotion, developing strategy and so on in
the context of Your Destination. Further, this report also discussed about the stages involves in
marketing plan in an effective manner.

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