Table of Contents INTRODUCTION...........................................................................................................................1 LO 1.................................................................................................................................................1 P1 Role and responsibilities of marketing function.....................................................................1 P2 Responsibilities and roles of marketing relate to large organization......................................4 LO3..................................................................................................................................................1 P3. Compare the application of marketing mix to the marketing planning process for achievement of business objectives of different organizations...................................................1 LO 3.................................................................................................................................................5 P4 Basic marketing plan for Premier Inn.....................................................................................5 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................11
INTRODUCTION Marketing essentials is full service incoming marketing and sales agency focused on marketing activities. Marketing is very essential in business as it helps to promote goods within existing and new market place. With the support of advertisement and promotion companies are able to sell their products and generate revenue than previous history (Grönroos and Gummerus, 2014). It is the most effective method for people to learn about the business or new goods is throughthestrategicmarketingprogramwhichisincludedadvertisinganddecisionsof management about where and how to place advertisements. It is very beneficial for business as well as consumers to build relationship with each other. Marketing manager play their role within marketing department effectively through their work and lead overall functions and activities related with product promotion. The present report is based Premier Inn hotel chain that serves their many services to guests since for so long. This study explains the responsibilities and roles of marketing functions and roles and responsibilities of marketing link to broad organization. It clarifies the comparison of ways in which various companies apply marketing mix tool to marketing planning procedure to achieve objectives of business. Furthermore, it justifies basic marketing plan for the Premier Inn. Overview of company- Premier Inn is the British hotel chain and known as the UK wider hotel brand, with more than 758 hotels and 72,000 rooms. They operate its hotel chain in different locations including city centres, airports and suburbs competing with likes of Ibis hotels and Travelodge. The organizationisfoundedin1987,byWhitbreadtocompetewithanotherhotelsuchas Travelodge. Premier Inn expand their business in Ireland, Qatar, U.A.E, Germany and India successfully and build the largest hotels chain in the world. All its branches have the on site restaurantinwhichskilledworkersservesthetastyfoodorbreakfasttotheirguests (Gummesson, Kuusela and Närvänen, 2014). In UK Firm is the first leading budgets' hotel chain, they invest in prime time TV advertising as for marketing its products or services in marketplace. LO 1 P1 Role and responsibilities of marketing function Marketing is defines as the best action within business to promote and sell services or goods, including advertising and market research. Marketing function is tasked with branding of entity, advertising, participation in publicity actions and consumer interaction through feedback 1
gathering.Itconsistsofmarketingresearch,productdevelopment,salessupportsystem, distribution program, finance team, HR department etc. all these functions has various roles to advertise growth in business firm. Marketing is management and study of exchange relationships, it is business procedure of satisfyingandcreatinggoodrelationshipwithconsumers.Withitscenteringonpeople, marketing is one the prime elements of company management. There are the four main functions of marketing; Price, Product, Promotion and Place. Role of marketing function- Promotion-Marketing role within business is to advertise and promote mission of the company and its other facilities (Barrales‐Molina,Martínez‐López and Gázquez‐Abad, 2014). Marketing department make the best promotional strategies or plans that help to grab the attention of consumers.Marketing management team must make plan better than before in context of marketing or promoting goods within new market as well as existing that support to aware people and drive towards them. Product-Identify customers need is the main feature of marketing in which marketing manager must understand its clients needs and wants. They need to manufacture goods according to target market needs. It helps to satisfy people, marketing department role is to make right services or products accessible to correct people at appropriate time.They should manufacture goods according to customers needs which meet with market demand and help to generate revenue. Place-It plays the main role as marketing function to flow and distribute of goods, place assure that product is in the accurate place at right time. The mainroleof selling is to make every single one feel better off from exchange and provide people the best reason to keep coming back towards purchasing firm goods. 2
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Price-Setting the right price for service or products is the challenging activity, marketing department must set the price of things according to people needs. Price of product play vital role in efficient distribution and determining of resources in market system. Role of marketing function is to meet with people needs and requirement, marketers determine clients needs and adopt marketing strategies according to it (Kartikawangi, 2015). The needs of people are satisfied with the help of exchange procedure. Responsibilities of marketing function- Price-marketing logistics should recognize price drivers, marketing manager must set the best prices in order to attract people towards them. The main responsibility of this function is to make consumer happy and satisfy with exchange process.Product-production management is accountable to make quality products that drive people more towards their business, and increase profitability.Promotion-It is the key component in putting across benefits of facilities to clients. Well created promotional and marketing strategies assure long term business progress and bring in more people for companies.Marketing department create the best marketing plan or promotional strategy that can be able to grab the attention of people as well as help to retain the 3 Illustration1: Marketing function (Source:Marketing functions, 2016)
existing customers.Place-place is the centre attraction point, the main responsibility of marketing manager is to promote the things by choosing the right place for promotion. The main responsibility of marketing function is to create effective marketing plans and strategies based on market needs and requirements which is essential for business. Marketing department team members conduct market research that is one of the best idea to know more about people preferences and current trends within marketplace, it is the main role of them. Before making any goods' promotion plan team members should identify its effectiveness and consider all the necessary things related with advertising products. P2 Responsibilities and roles of marketing relate to large organization Marketing is the managerial procedure and the best way in whichPremierInn identify their top grad opportunities in marketplace give its resources and objectives.Roleof marketing within organization is to build strong connection and relationship between firm offering to market and consumers that help to enhance productivity and generate more revenue (Mosavi, 2014). Marketing department take right decision and consider the needs of people which help to make effective promotion plan. Developing goods or services and promote within new market as well as existing marketplace effectively is the vital role of marketing that enhance the performance of firm than before. Marketingresponsibilityis to progress revenue, contribute to firm profitability and growth of business. Marketing manager is accountable to conduct market research and deeply understandPremiertargetmarketneeds.Seniormanagerofmarketingmanagementis responsible for setting overall marketing strategy in line with organization objectives and plans. Market investigation is key responsibility for company marketing department, as it helps to determine the best market opportunities and also support to gain the better understanding of competitors and clients demands. Marketing management or team of company must create materials that promote and describe business core services or other things. Marketing contribute to maintain and manage social media pages of company that is beneficial for determining customer experiences and satisfaction level. Marketing manager must identify the over all activities of marketing which help to accomplish organizational goals and business objectives. Selling department of Premier Inn works with external or internal product development team to improve existing goods or to develop the new ones (Berisha Qehaja and Kutllovci, 4
2015). They analyse sales of current goods and determine gaps in services or product range where there are possibilities for organization. Marketingrole isto identifying target markets, segments with thePremierInn target consumers, most accurate strategies and understand the weakness and strengths of firm. In other words marketing defined as the accumulation of several activities undertaken by Premier Inn to relate productivity or profitability to their market. Generate revenue as better than its competitors within marketplace is the main role of marketing that help to raise firm reputation and position all over the world. Marketing department work in firm interrelate with other functional units for example, marketingwithfinance,Humanresourcemanagementwithmarketing,operational interrelationshipwith Marketing department. Marketing department closely work withfinancesector within Premier Inn because it helps to complete task in fixed budget and achieve goals. Finance department ofPremierInn a lot fix budget to marketing team in which they are able to make effective promotional and advertising plan to attract target audience and other ones. Like finance department, marketing section is also interrelate within Premier Inn HR management. Human resource managertake help of marketing department in context of promoting job vacancies and promote the best job offer to local and residential people (Camelo and et.al., 2016). Marketing management and its team members make plan and include all the employment policies of company that attract talented applicants towards them. On the other handoperational managementalso stay connected with marketing team because marketing department is the only source of promoting products or advertising services of organization. With the help to advertisement people get aware about the existing goods and also get more information about the new ones which is beneficial for enhancing company growth and financial performance. All the above things explain that marketing play many roles within business and have number of responsibilities that can increase profitability and productivity. Marketing role is to promotePremierInn products or any innovation within market place that help to generate awareness and attract people. On the other hand marketing department responsibility is to make better promotional strategies that help to increase profitability and productivity. 5
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LO3 P3.Comparetheapplicationofmarketingmixtothemarketingplanningprocessfor achievement of business objectives of different organizations MARKETING MIXAND ITS ELEMENTS Marketing mix is considered to be the wall for the organization. Marketing mix refers to the term which is related to the tools through which company is able to sell its products and services to the customers. It is used by the many organizations in order to achieve their long and short term objectives by in targeted markets. It has 7 elements which are known as7P's (Marketing Theories – The Marketing Mix – From 4 Ps To 7 Ps,2018). These elements are as follows - 1P–Product– Product is an item through which customers' needs and wants are fulfilled by the business. Illustration2: Elements of Marketing Mix Source:Marketing Theories – The Marketing Mix – From 4 Ps To 7 Ps, 2018.
2P–Price– Price is an element which is determined by the company that on which value products are being sold. 3P–Place– Place refers to the location where products are being sold. 4P–Promotion– Promotion refers to all those activities which are carried by company for the purpose to increase the awareness about the products. 5P–People– It involves all the right people who helps in running the business and selling the products to their customers. 6P–Processes– It refers to the procedure through which company is delivering its products to the end users. 7P–Physical Evidence– It refers to the business environment where clients feel the essence of the organization (Armstrong and et.al., 2018). COMPARISON OF 7P's OF PREMIER INN HOTEL CHAIN COMPANY AND AMAZON ORGANIZATION CompanyPremier InnTravelodge UK Organizational ObjectiveEnhance the business' societal impactbyprovidinggood quality services. Increasethecurrentmarket sharebysellingthehigh quality products and services to their customers. Products and ServicesProducts of the Premier Inn are hotelrooms,bars& restaurants, online reservation facility, concierge services and membershipdiscountsetc. Servicesprovidebythe companyfoodservice, reception guests services, 24*7 roomservicesandsecurity services etc. Products and services of the Travelodge are provide venues for events such as marriage, meetings,conferencesetc. Companyalsoprovidebasic accommodation and hospitality servicesalongwithonline services too. It also provides their customers another various productssuchasbarsand restaurant, reservation facilities 2
and customer services etc. PlaceTheheadquartersofthe companyisinDunstable, United Kingdom. It has served itsproductsandservicesto United Kingdom (UK), United Arab Emirates (UAE), India, Ireland, Qatar and Germany. It has very limited place. Theheadquartersof Travelodge Hotel is in Thame, England,UnitedKingdom (UK). But company serves its products and services at United Kingdom, Ireland and Spain. (Pogorelova and et.al., 2016). PriceCompanyischargingprices fromtheircustomers dependingupontheservices used. It is a luxury hotel which offer extra services and charge more.Onthebasisofthis, company's pricing strategy is consideredtobepremium pricing strategy. Companyisusingflexible pricing strategy in which they providetheirproductsand services at the flexible rates. PromotionFor the promotion, company is usingsomuchdiscounting offers and promo codes which attractsmoreandmore customers. For example – they givefreeservicestothe childrenwhoarebelow16 years old and they provide free mealorfreebreakfastifa familywhohave2children orders breakfast or meals etc. For the promotion, company is usingsomuchpromotional strategies which help company to reach out of so much of its clients.Theirpromotional strategies includes Advertising, Public relations,Social media marketing,emailmarketing and mobile marketing etc. PeopleItskeypeopleisAlisonIts key people are Keith Hamill 3
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BrittainwhoisCEOofthe company. Along with CEO, its keypeopleareboardof directors,hotelmanagers, employees, staffs, guests and suppliers(Bowieandet.al., 2016). whoischairmanofthe companyandPeterGowers who is chief executive officer of the hotel. ProcessesTheprocessofdeliveryof services of the company are followedbyemployeesand staffs in two ways - Back Stage Front Stage The process of delivery of the productsandservicestothe end user are followed by three ways - Back Stage Front Stage Online platforms Physical EvidencePhysicalevidenceofthe company is represented by the lobby of the hotel, uniform of the employees and staffs, its logo and the experiences feel bytheguestswhousethe services provided by the hotel. Physicalevidenceofthe Travelodgehotelistheir environment and lavish styling ofprovidingservices.This attract their users the most. MarketingmixofthePremierInnHotelisaccurateforthecompany.Ithelps organization to achieve its objectives by fulfilling the needs of their guests. Without marketing mix, company won't be able to provide good quality hospitality services at reasonable price. For the creation of brand image and brand value, company needs promotional strategies which is a part of marketing mix. In order to achieve organizational goals and provide good service experience to the customers, company has to hire people which is an essential element of marketing mix. Hotel should be located at ideal place so that customers can easily access to the company and enjoy their good quality services. Physical evidence helps organization to build a 4
different brand image from its competitors which is important for the achievement of objectives. Selection of right path for the delivery of services, company can help customers happy and satisfied. This will help Premier Inn Hotel to achieve their organizational goals and objectives (Wu and Li, 2018). LO 3 P4 Basic marketing plan for Premier Inn Marketing plan is part of all over business plan, it is comprehensive document that outlines marketing and advertising attempts for future (Brammer, He and Mellahi, 2015). It describes as the most essential business actions include in completing specific marketing objective of Premier Inn within the set time frame. Target market, pricing strategy, positioning statement, goals, SWOT analysis and budgets and planning are the most essential parts of marketing plan that is used for company. The main purpose of marketing plan is to set firm on particular course in marketing. Company required to the perfect marketing plan because it helps to develop services or product in business that meet with needs of target audience. SWOT analysis- SWOT analysis is strategic tool that help to identify company strength, weakness, opportunity and threat (Kumar, 2015). With the help of this technique Premier Inn can be able to overcome the weakness and make stronger than its business competitors within market. Strength- Premier Inn is the most leading and profitable hotels within UK, with operating profit risen by 7.4% to 468 million and occupancy rate of more than 80%. Organization have 60,990 rooms by the end of 2015 which help to made it the biggest hotel chain. Company is able to beat its competitors within marketplace that build its high position and reputation. Through providing better and quality products or facilities firm has establishes the good brand image. Bike friendly and kid friendly image linked with free Wi-Fi it is the great selling point for hotel. Weaknesses- Due to wrong hiring Premier Inn image is getting lower, in 2018 housekeeping staff of company founded. As using same guest towels to clean whole toilet that make its negative image in market place which is not appropriate for overall firm reputation and impact on its financial performance. The main weakness of organization is limited global presence as compare to other 5
market giants. They operate in limited number of nations that cannot be able to generate revenue more than rivals. Opportunity- Premier Inn is successfully entered in Germany and finally getting into Republic of Ireland which already seen success of Costa Coffee brand (Real, Roldán and Leal, 2014). They efforts to promote their services or goods with using new technologies within their business that is beneficial and provide many benefits to them. The design and décor rooms according to guest needs and requirement that make them happy and satisfy to invest. It is the best and nice surprise to customers in budgets hotel segment, company give contract to company of contractors for whole renewal of wall tiling and floor as well as sorting out the problems of flammable cladding on few of their properties which is one of the best opportunity to attract people than before. Threat- Holiday Inn, Ibis and East hotel is the main competitors of company within same industry of budget hotel segment. There is powerful competition from many other independent and small hotels that impact on Premier Inn market position and consumer base. Objective of Premier Inn- Premier Inn run their overall business functions and activities effectively and successfully operate each operational actions a lined with business objectives. The current objectiveof organization is to establish their new restaurant within Ireland which help to generate profitability as well as increase revenue of business than previous. Strategy- STP- Segmentationinclude findings out what types of customer with various needs existed in market.PremierInnmarketingdepartmentsegmentgroupofpeopleandidentifytheir requirements. They target middle classfamily andlocal peoplein Ireland for attracting guests more towards their new restaurant,Veggie delight. Target marketis one or more segments, company chose its target audience with the help of conducting market research. Middle class or local people is Premier Inn target market, they want to serve other people the best services or food items just like segment group which is beneficial for all over financial performance of business. 6
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Positioninginclude implementing company targeting, marketing department develop detailed goods positioning for chosen segments and then develop marketing mix for each target consumer (Luxton,Reid and Mavondo, 2015). They hire talented applicants who help to make effective marketing mix plan for Premier Inn. Company decides their target market and strives hard to make positive image of their goods in consumer mind via promotional activity. Marketing mix 7P's- Product- Products means services and goods combination organization providing to its target market as local and middle class' people or family. Premier Inn is classified as full service hotel chain, accordingly range of their services is includes and extensive meeting, banquet and other service. Currently they offer good and quality food to target customers with opening new restaurant in Ireland. It is their main goods or tool that help to generate revenue and create market image higher than existing firms. Price- Ultimate aim ofpenetrationstrategy for the Premier Inn is specified as marking accessible services or products to clients where, when and how they prefer them. Company serves people more than 120 food dishes in its new restaurant in Ireland and set great prices on each products that help to attract target and other people. Place- Way of distributing goods is considered as third 'P' of marketing mix for Premier Inn that is considered as the place (Paley, 2017). Marketing manager analyse the best geographical areas where people visit the most and look for better restaurant. After the market research management open their new restaurant in Ireland around local residential area where the good food items is available for target audience easily. Promotion- Promotion is the main element in marketing mix consist with advertising and campaigns to support new restaurants of Premier Inn. Marketing manager with the help of their team members make various promotional strategies to promote new business in Ireland in order to make people aware of new place initiate several promotional plans to uphold services within restaurant as well as its food dishes. People- 7
People or staff members is defining components in service and food delivering procedure since the facility is inseparable from person providing it. Thus, Premier inn is known as for their food if they have talented people who serve it. Company must hire new applicants and chose from local and residential people who know best and suitable things for customer as they belong to economy of Ireland. Process- To grab the attention of customers and drive target people towards new restaurant in Ireland company marketing manager must make business own new websites before promoting within market (Pride and Ferrell, 2016). It is very essential for marketing restaurant and must include all the information about it which help to increase interest among people to visit new place or restaurant of Premier Inn. Physical evidence- Premier Inn provide the beautiful lavish ambience and design the latest interior of new restaurant to their guests which attract people or target market easily and make them to retain experience and return back. It is the biggest evidence for new restaurant in Ireland. Action plan- To make this plan successful and open new restaurant within Ireland company must make action plan with allocate budgets. ResourcesBudget Product cost£100 Promotional activity£120 Labour cost£80 Distribution cost£123 Forecasts- Year 1Year 2Year 3 Sales100120180 Cost12010080 Profit100013002000 8
Market share2.00%3.00%6.00% Control- Customer Feedbackis the main tool or technique for measuring and monitoring action plan and effectiveness and progress of new restaurant in Ireland. It is the best process or system in which higher management receive clients feedback in context of experience which they feel during visit in restaurant(Mummalaneni, 2014). With the help of this method manager can be able to monitor employees working style as well as evaluate the success of new restaurant via getting feedback from customers. Self monitoring is considered as the great success and growth measurement tools for new restaurant. Operational manager is responsible for managing each operation within restaurant effectively and monitor employees working performance which help to alien work accordant to business objectives as to generate revenue and increase profit margin. Travelogue and Premier In set their prices as based on customer based or demand and provide the best services to them. Premiere inTravelodge Premier in company set affordable prices and satisfy their customers perfectly. But on the other side Travelodge cannot make changesintheirpricingpoliciesandhave instable pricing structure. Recommendation- Premier Inn is recommended to adopt social media marketing which is very beneficial for overall business performance and enhance their productivity more than before. To control marketingplancompanymanagementusetomoderntechnology,itisoneofthebest recommendation that help to monitor effectiveness of plan or strategy. Organization marketing team must chose appropriate place where rate of population is higher therefore people attract more towards their business and purchase goods. CONCLUSION Form above its has been summarized that marketing is one of the most important function within business as it helps to grow entity and promote things in market to reach target consumer and grab their attention. Marketing manager sets prices of each products according to economic 9
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condition as it support to sustain for longer term and retain clients with them. Price, promotion, place and products is the four functions of marketing that play important role to increase company financial budgets and provide consumer good satisfaction level from exchange process. Marketing manager responsibility is to create good promotion plan that is much effective and useful as to attract people and maximize customers base than before. It has been concluded that with the help of marketing plan, it is easy to identify organization weakness and strength and make plan to overcome for weakness. Marketing manager make plan that contribute to achieve business objectives and goals related with overall profitability. Marketing mix tool define the current objective of Premier Inn that makes it easy for manager to achieve and get the best results. Promotional activity contribute to become company a leading brand and promote their services or goods in all around the world. 10
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Online Marketing functions.2016. [Online]. Available through : <https://www.google.com/search? q=marketing+functions+and+their+role&source=lnms&tbm=isch&sa=X&ved=0ahUK EwiShuXw7fniAhUGFHIKHfwFBOQQ_AUIECgB&biw=771&bih=760#imgrc=cRhh vx0JmjiWlM:>. Marketing Theories – The Marketing Mix – From 4 Ps To 7 Ps.2018. [ONLINE]. Available through:<https://www.professionalacademy.com/blogs-and-advice/marketing- theories---the-marketing-mix---from-4-p-s-to-7-p-s>. 12