Business Research Methods and Statistics Essentials

This assignment covers a range of business-related topics, including research methods, statistics, and essential books in various fields such as marketing, finance, operations management, health care, educational psychology, crisis leadership, financial analysis, and respiratory physiology. The list of sources includes academic journals, books, and online resources, providing a comprehensive overview of the subject matter.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 Key roles and responsibilities related with functions of marketing..................................1
M1...........................................................................................................................................4
D1...........................................................................................................................................5
P2 Roles and responsibilities of marketing that are related to organisation...........................5
M2...........................................................................................................................................8
P3 Comparing Marketing mix of Wilkinson and ALDI.........................................................9
M3.........................................................................................................................................13
D2.........................................................................................................................................14
P4 Marketing plan for Wilkinson.........................................................................................14
M4.........................................................................................................................................16
CONCLUSION .............................................................................................................................17
REFERENCES .............................................................................................................................18
.......................................................................................................................................................19

INTRODUCTION
Marketing is consist as a brief study about managing relationship of exchange goods and
services. It is a broad concept which is applied by every business firm is respect of growth and
success (Anderson and et. al., 2014). Marketing is a combination of various activities in which
manufacturing, creating, communicating, exchanging and offering are involved. These make
value for buyers, clients, customers and large society in terms of getting satisfaction. They adopt
various marketing strategies to fulfilling the needs and wants of customers in terms of money
and revenue. They considered on such aspects which are helpful in establishing familiar working
environment for board members as well as employees. This report contents the study about
different roles of marketing and there interrelationship with various functional units. A brief
discussion on how the roles and responsibilities of marketing helps in business organisation. The
company use marketing strategy for introducing new product at market place in order to attain
organisational goals and objectives.
TASK 1
P1 Key roles and responsibilities related with functions of marketing
Marketing: It directly consist as a process in which seller and buyer are interact with
each other for the purpose of transferring goods and services that create value for consumers as
well as suppliers (Woiceshyn, 2011). An organisation put their all affords and adopt various
strategies for creating awareness among public in respect of promote and develop their product
and service at market place. The tools and techniques of marketing helps an organisation to
increasing the number of their customers who show their interest towards the offered goods and
services.
Some of the popular definitions of marketing are described below:
 CIM definition : The CIM (Charactered Institute of Marketing) has defined the
marketing as the management process which are responsible for determining, anticipating
and meeting the demands of customers profitably (Zikmund and et. al., 2013).
 AMA definition : AMA (American Marketing Association) has described the marketing
as activity, set of institutions and procedures for generating, conveying, transferring and
exchanging offerings that are valuable for the consumers, clients, business partners, and
social group at large.
1

 Kotler definition : Kotler defined marketing as a social process through which
individuals and corporations achieve their requirement and wishes via creating and
exchanging values with others.
Roles of marketing:
Marketing plays an essential role in implementing a friendly and comfortable relationship
among firm and their customers. The functions of marketing also perform for increasing
branding and good will of company. Take effective participation in various activities related with
public activities such as interact with customer's, taking feedback and advertising (Blumberg,
Cooper and Schindler, 2014). All functions of marketing are integrated in an organisation by
marketing department and manager. There are some major roles are described as under:
Defining and managing the brand: This is the key role of marketing function in which
what is company all about, what functions an organisation play, how company perform are
included. In this the experience of customers as well as suppliers how they interact with each
other are involved.
Conducting campaign management for marketing initiatives: This is also an essential
role which helps in increasing growth and success of firm (Jacobs and Chase, 2013). The
department of marketing focuses on identifying products and services that have value for
customers and than products goods with the help of material and establish an effective
communication with clients to make their product more popular.
Producing marketing and promotional material: It is necessary for marketing
department to make the materials that helps in describing and promoting the particular product
and service. Create some changes that are required as per the need of customers in order to keep
them up to date. The promotional tools help an organisation to reach at high position
(Cobanoglu, Berezina and Erdem, 2011).
Monitoring and managing social media: Marketing should maintain the pages and
accounts of firm on social media for providing up to date information regarding goods and
services to the customers. This is the most popular way of creating awareness among public
without spending huge amount of money.
Providing internal communication: It s the duty of marketing department to give
relevant information to their employees regarding company, its roles responsibilities, priorities
2

and goals (Inoué, 2013). Marketing is also essential for providing an effective communication
among employees and every department with the use of newsletter.
Serving as media liaison: Company assign a person who act as a representative of firm
when the company is well positioned at market place. The representative is responsible for each
and every activity related with social campaign.
Conducting customer and market research: This is major role which is played by
marketing. This helps in identifying the target market and various opportunities for company and
their employees (Hsu, 2011). With the help of research it is easy for firm to getting all
information and data regarding customers needs and wants.
Responsibilities of marketing functions: In an organisation the department of marketing play
various activities for effective utilisation of resources and affords to satisfy the needs and wants
of customers. Some are described as under:
Listening to customers needs: The major purpose of adopting marketing strategy is to find out
the actual and current needs and wants of customers through getting more closer to their
potential clients. The department of marketing to design an effective process for collecting
feedback from users or customers: Company internal channels: Conduct survey or collect data form various department of
company for evaluating the marketing strategy for future purpose (Engemann, K.J. and
Henderson, 2011). Channels outside the company: Establish an effective channel for gathering data and
information through various social media in respect of identifying the needs and wants of
customers.
Product development: Internal and external factors play an essential role in introducing new and
effective product at market place. This department is focusing on evaluating the actual sales of
new and existing goods and measures the gap in the wide variety of products which helps in
finding out the opportunities for organisation.
Prepare cost sheet: This is most important duty of marketing department to prepare cost sheet
for maintaining the performance of company in order to attaining desired goals and objectives.
This sheet helps an organisation to maintain their budget for future and present investment that
are required for firm to reach at higher position.
3

Walk and transmit brand value: The value of brand is the representative of product and service
that are offered by firm at the market place. The department of marketing play an effective role
in creating well defined image, ideas, thoughts and messages that helps in describing the actual
brand value.
Innovate: The major purpose of company is to surprise their customers with new and effective
products that are unique at market place. Their major duty is to perform for promoting their
goods for increasing their sales.
Communicate with the whole company: An organisation is consist as the group of various
people who are work together for achieving common set of goals and objectives. The marketing
department establish a chain among the organisation for implementing effective communication
at the work place. Higher authority of firm is responsible for rendering all relevant data and
information to their employees regarding their roles and responsibilities.
M1
Some of the roles and responsibilities of marketing in terms of marketing environment
are described below:
 Competition : Wilkinson faced from other existed super-marketers. Hence, team of
marketing should formulate strategies to gain competitive advantages which is essentials
for sustainable development.
 Economical : Corporation has to create their marketing schemes as per the economy of
UK. As Brexit had modified the shape of its economy, therefore, marketing sector should
make their trading strategies as per that.
 Technological development : Uses of modern technology in marketing has completely
altered the processes and environment substantially. Hence, it is necessary that various
departments of company perform their jobs by using modern technologies in order to
fulfil the demands of consumers.
 Political : Modifications made in the policies and alliances of government in different
nations has impacted a lot the marketing strategies of venture and their environment.
Therefore, the main responsibility of marketing sector to focus on the alterations done in
economy caused due to the political parties and do their performance accordingly.
4

D1
For the development of an enterprise, there must be appropriate interrelationship with
various other functional units. Use of accurate marketing mix is one the main element of
marketing. The development of goods is also very important for its effectiveness. It also assist in
shaping other sectors of marketing. Effectual advertisement activities helps in increasing sales
rate of products. Budgeting of various functional units is formulated by financial department that
take aid of marketing sector. Research and development sectors are also highly impacted by the
pricing rate of goods decided by the firm.
P2 Roles and responsibilities of marketing that are related to organisation
Marketing play an essential role in every business firm for carry out all activities and
operations related with firm in an effective manner. It helps in assigning right job to right person.
Its continuously measuring the performance of an individual to check the effectiveness of work
and responsibility which is assigned to an employee (Hair and et. al., 2011). The manager of
firm I play an important role in each and every activity of firm that helps in attaining growth and
success for company. Wilkinson mainly focuses on providing high quality services to their
customers with the proper utilisation of resources. Organisation is a wide concept and it is
categorised into different departments such as finance, HR, marketing, information, technology
and many others. Wilkinson is a famous marketing consultancy. The basic aim of firm is to
fulfilling the demand and needs of customers. Their objective is based on the rate of profit.
HR department: This department consist various works such as recruitment, hiring, selection
and training. This department mainly concern on developing employees performance for
attaining organisational goals and objectives effectively. It helps in maintaining various activities
that are related with the operation of firm.
Finance department: It consist all activities related with capital, budget and finance. It play an
essential role in every business firm. The head of finance department set the budget for company
for effective working of operation . This helps in providing fund and capital for invest on their
various operation. Major work of this field is to maintaining and controlling all activities that are
related with finance.
For example: The department of marketing is responsible for all activities related with promotion
of goods and services. These promotional activities are helpful in better running of firm in proper
and right direction. For effective advertisement the finance department provide significant
5

amount to conduct an appropriate advertisement function to promote their product at market
place. These two above mentioned departments are interrelated with other for the purpose of
sharing relevant resources.
Sales department: Marketing play an important role in sales department. The sales of goods are
based on the marketing activities that are adopted by firm in respect of earning profit. This
department consist activities related with selling the product at market place. This field provide
support in selling the goods at target market for achieving high amount of profit and revenue.
Marketing department: This is most important part of every business firm who keep an eye on
every activity of firm (Hair and et. al., 2011). The function of various departments are controlled
by this field. They conduct various activities related with marketing to promote goods and
services of firm. Wilkinson hire an employee in their firm with high degree on knowledge and
skills. They are kind of representatives of company for providing relevant data and information
to the potential customers.
Research department: This is also an essential part of marketing. This field help an firm to
identify their potential customers who are more interested to buy their products in services in
terms on money. With the help of this department Wilkinson conduct a marketing survey form
internal and external both sides (Weaver, 2011). Internal survey helps in providing relevant
information about the available resources and provide suggestion for developing new product
with more effective and advance feature. External survey helps in identifying the needs and
preferences of customers on the basis of new market trend.
Information and technology department: This department consist different activities that are
related with innovating marketing tools and technology (West, 2012). This field helps an
organisation in sharing data and information form one place to another without making any
human affords. This provide a significant way to transfer relevant data that are required for
operation function in firm.
Various responsibilities and roles related with marketing functions:
Market research: In this various marketing activities are involved for conducting an effective
marketing survey. It is the responsibility of researcher to analyse the total market and identify the
present needs of customers in respect of providing goods and services as per their demand
(Wilson, 2014). Investigator collect data and information through filling the questionnaire from
customers for taking feedback about the existing product or identify the new requirements for
6

introducing new product for satisfying their future needs. As per the given feedback from
customers make relevant changes that are important to fulfil customers needs.
Product development: This is an essential part of every business firm to satisfying the future
needs and demands of customers. For this it is required for Wilkinson to conduct a marketing
survey for gathering differential demand of consumers as per the change in trend. The cited firm
is mainly focuses on create innovation for increasing growth and success for firm in order to
reach at high position.
Sales: It is required for firm to perform this activity in an effective manner to increasing their
profit and growth. Selling consist rendering goods and services of cited company to their
potential customers in terms of money (Hair, 2015). This is interrelated with various activities of
marketing. Wilkinson considered various marketing strategies to sale their product to their target
customers because if sales of company getting increased than it will positively impacted on
organisational growth and success. If the sale of a particular product is high than it directly
consist on high demand of products and if sales is less that it will show the low demand of goods.
Communication: It is necessary for firm to establish an effective channel on communication.
There are various policies are available for communication. Wilkinson needs to select the most
effective channel for smooth functioning of each and every activity in firm. An effective channel
helps in rendering proper information in right time without any misunderstanding.
Segmentation: In this the project has to be categorised into different parts for effectively
completion of work or task. This provide support in identifying the different needs and wants of
customers according to their choice and preferences. With the help of segmentation is is easy for
firm to measuring differential demand of customers from the various department that are
segmented as per similar criteria.
7

HR Department
Sales Department
Fig : Fish bone diagram that states the importance of marketing department in relation to other
departments
M2
Significance of interrelationship between marketing and other functional units can be
recognised by following points :
 Production : This sector get helps by marketing sector so that goods or service are
manufactured as per the demands of consumers and market. This aids in maintaining
constraint relating to production.
 Sales : Smooth functioning of sales department is possible only by taking help of
marketing because effectual marketing helps in increasing rate of sales.
 Research and development : Research and development in the product is done by
taking help of marketing department that determines which functionalities should be
improved to meet the demands of user. These all improvement are done as per the
demand of market also.
 Finance : Functioning of various other functional units relies on the marketing plan that
are created in order to provide satisfactory financial resources. Decision making in terms
of financial investment is done by taking help of marketing.
8
Marketing
Department
Finance
Department
IT Department

P3 Comparing Marketing mix of Wilkinson and ALDI
Marketing mix play an essential role for introducing new and innovative product ar
market place with more advance feature. It is considered as integrated marketing process because
it a combination of various activities that are held in business firm (Jaggia, and et. al., 2016). The
marketing mix is described with the help of various elements that includes product, price, place,
promotion, process, people, physical evidence. These are described as under:
9

(Source : Marketing mix 2017)
Marketing mix of Wilkinson and Aldi are listed below:
Wilkinson Aldi
Product It is an important part in
marketing mix. Wilkinson is
focuses on rendering services
to their customers as per the
requirements of customers.
They increase their market
share with the help of their
beauty products. These are
It is an essential step in
marketing mix. ALDI is a
most popular firm with wide
variety of products. Company
focuses on providing services
to their customers in respect of
earning profit and share. It
mainly deals in beauty, food,
10
Illustration 1: Marketing mix

most popular product of
company through which they
increase their profit and
revenue. High quality goods
help in maintain customers
brand image and goodwill
among public. They focuses on
developing new product which
helps in meet with customers
requirement (Hsu, 2011).
beverage, clothes and
electronic products. The
company ensure their
customers to high quality
services to their potential
buyers with more advance
feature.
Price It is a most difficult task which
is performed by the firm and
their higher authority. After
selecting a product, company
needs to set a price for product
to sell them at market place.
Wilkinson set the price after
measuring the actual cost of
product. Wilkinson use low
price strategy to attract large
number of customers towards
their organisation for taking
advantage of offered service
and products. The effective
price strategy helps an
organisation to attain
competitiveness among market
place to give high competition
to their competitors.
ALDI has a strong base of
consumers who provide
benefits to company for
buying goods and service.
They earn huge amount in
beauty products, so they use
low price strategy to give
competition to their
competitors. This strategy
helps the organisation to
increase their sales and
revenue (Jacobs and Chase,
2013).
Place It is determined as the It is an essential term as it
11

distribution outlets of firm
where products are offered to
their customers in terms of
money. It is an important
decision which is taken by
firm after measuring the needs
and wants of customers. The
selection of place is based on
the different demand of good
in different segmented market.
It is identified by marketing
survey (Inoué, 2013).
describes as how the goods are
bought from the stores and
where it will be sold. ALDI
has various stored at different
location. They design their
outlets very attractive for
maintaining goods and
services in bulk. They keep
their goods in store for
providing fast services.
Promotion This aspect refers to creating
awareness about product at
market place with the use of
different marketing tools. It is
an essential term for business
organisation to promote their
products and services in
different segmented market as
per the needs and wants of
customers. Wilkinson use so
many marketing tools for
promoting their product at
final market place for
increasing their sale and profit.
They give advertisement on
newspaper, magazine,
television, radio and social
media.
There are so many strategies
available and company needs
to select the most effective
strategy to promote their brand
and products. ALDI does not
spend huge amount in their
advertisement function, they
give information about
products and services while
customers come to their store
for the purpose of purchasing
them.
12

People This is a wide concept of
marketing mix. It refers to an
effective relationship among
buyers and suppliers. It is
important for company to
establish a familiar relation
between them to increasing
sales and revenue for
company. Wilkinson conduct a
marketing survey for
collecting information about
the needs and wants of
customers. This data helps in
selecting the right customers
who are more interested to buy
the goods and services of the
cited company.
ALDI does not make affords
for suggesting their customers
for buying any product or
service. Company has various
section for different products
which helps in reducing the
need of employees at work
place.
Process In this step all the activities
related with functional
operation are included.
Wilkinson focused on quality
aspects for maintain their
brand value at market place..
company needs to use simple
and effective process so that
clients can easily select goods
and services as per their own
needs and demand (Ormrod,
2014).
The company use effective
process for selecting goods
without consuming more time.
They does not put high price
and or low price for different
quality products. For quick
identification of goods
company use large bar code
which are different form each
other.
Physical Evidence It is considered as the actual The stores, outlets and its high
13

services and products that are
offered by firm to their
customers. The company is
mainly focuses on distribution
channel for distributing goods
and services to their final
customers. The attractive
location helps in attracting
huge number of buyers
towards firm and their
products.
definitions products are the
major aspect of company for
provide a proof to their
customers about the existence
of firm. ALDI maintain good
decorum in their stores for
attracting large number of
consumers (Kongstvedt,
2012).
M3
Various tactics applied by the venture for achieving the business objectives are described
below:
 Continuous research of market : Wilkinson requires to do proper and continuous
research of market in order to determine the real needs of users so that products are
manufactured as per that.
 Setting of target : To achieve the objectives of corporation, it is necessary to target
various sections of society. Setting of this target aids them in making their goods or
services as per those targeted community in order to achieve more satisfaction.
 Advertisement : Different methods of advertisement should be adopted by venture so
that they can increase their selling rate and reduce the risk of failure of their products.
 Pricing : This is considered as one of the most beneficial tactic that can be used by firm
so that they can attract large number of users. This aids in achieving objectives of venture
and controlling over vast region of market and hence incrementing the profitability.
D2
Strategic marketing plan that uses marketing mix in order to acquire objectives of
business are listed below:
14

 Analysis of condition of the company according to the environment in which it
functioning.
 Target the users such as students or younger.
 Manufacture products as per the requirement of market.
 Pricing should be done on the basis of two facts that is costing in development of
products and as per the targetted society.
 Appropriate positioning requires to be done so that goods are made available to each and
every consumers.
 Highly skilled employees should be recruited by venture.
P4 Marketing plan for Wilkinson
Revised Marketing plans for the Wilkinson are described below:
 Situational analysis : Wilkinson is growing its business in nation like England and
various other sections of Europe. Regular operations are handled smoothly by them.
Some of its competitors such as ASDA, AMARA, ALDI are offering same products and
services and thus creating great threat for the firm. Brexit and past decades economic
condition has influenced the financial performance of the venture. Such problems needs
to be resolved for achieving growth in upcoming days.
 Environmental analysis : In this step, the environment in which company is operating
its business are examined carefully. Their impacts on all activities of business are
analysed. This analysis also includes impacts of several factors such as social, political,
legal, economical, technological and financial.
 Marketing segmentations and targeting : It is linked with dividing the markets
according to different geographical or demographic location in order to adopt the
different marketing segments. These strategies are adopted in order to expand there
markets and achieve growth and development. If the company will distribute the products
according to the segments than it will help in achieving growth and development.
Targeting is related with assigning the areas where the goods will be sold. This helps in
adopting loyal customers for the company thus the products can be distributed according
to the choices and taste and preferences of customers. If the company adopts effective
targeting strategies than it will help in growth and development of business and they will
achieve high profit shares.
15

 Monitoring and control : The budgets will be allotted after the business strategies had
been effectively implemented at work place. Thus there is need to monitor and control all
the business operations. This can be achieved if there is control on the financial activities
and the funds are managed in order to carry out the carry out the business operations in
effective ways. The company is spending more on advertisements, which are essential in
order to carry out effective business operations (Jaggia and et. al., 2016).
 Marketing Program : Main focus of this step is to check for the practical realization of
the followed strategies of marketing. Marketing plan explains the roles and duties of
each and every employees of venture. Its successfulness depends on how effectively it is
communicated. It also consist of measures like precise research on market and proper
management of resources. Budgets: There budgets are prepared after they had analysed the business strategies
which are related with marketing. They should effectively mange there finances so that
there business activities are carried out in planned ways. There budgets are mainly given
to the marketing departments which help them to carry out there promotional activities in
planned ways.
Marketing Budget:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 50000 14500 12400 13000 16000
Investment 19500 14200 15000 14000
Total 50000 34000 26600 28000 29000
16

Marketing
expenditures
Advertisement 5000 8000 5000 5000 6000
sales promotion 5000 3000 4000 5000 2000
Direct marketing 4500 5000 3000 3000 4000
Total 14000 16000 12000 13000 12000
Available balance 36000 18000 14600 15000 17000
M4
Marketing plan should be made to acquire the profitability. It generally depends on the
competition faced by Wilkinson. Such a marketing plan is discussed below:
 Collecting information : It is very essential to accumulate the information which is
related to the various aspects such as demands of consumers, environment where the
businesses is operating, etc.
 Practical time line : Marketing plan should be realistic or practical in order to attain the
objectives and goals. Each and every stage of processes should allotted a particular
interval of time that means that work has to be completed by that only.
 Monitoring : Certain methodologies should be adopted by the Wilkinson to monitor the
works done by their employees for checking their effectiveness. Plan makers have to do
modifications in their planning according to the situations.
CONCLUSION
As per the above report it has been concluded that marketing play a significant role in
overall performance of firm. An organisation use various aspects of marketing for increasing
17

their growth and success for the purpose of long run. Marketing mix helps in introducing a new
and innovative product at market place with various features. Marketing strategies are used by
firm in order to attract large number of customers towards organisation for achieving goals and
objectives. Wilkinson is the marketing company which focuses on providing high quality goods
and services to their customers. Wilkinson adopt various strategies of marketing techniques to
reach at competitive advantage.
18

REFERENCES
Books and Journals
Anderson, D. R. and et. al., 2014. Essentials of statistics for business and economics. Cengage
Learning.
Blumberg, B. F., Cooper, D. R. and Schindler, P. S., 2014. Business research methods. McGraw-
hill education.
Cobanoglu, C., Berezina, K. and Erdem, M., 2011. The impact of technology amenities on hotel
guest overall satisfaction. Journal of Quality Assurance in Hospitality & Tourism, 12(4),
pp.272-288.
Engemann, K.J. and Henderson, D.M., 2011. Business Continuity and Risk Management:
Essentials of Organizational Resilience. Rothstein Publishing.
Guffey, M. E. and Loewy, D., 2012. Essentials of business communication. Cengage Learning.
Hair, J. and et. al., 2011. Essentials of business research methods. Armonk, NY: ME Sharpe.
Hair, J. F. and et. al., 2011. Essentials of Business Research Methods ME Sharpe. Armonk, NY.
Hair, J. F., 2015. Essentials of business research methods. ME Sharpe.
Hsu, W., 2011. The vocabulary thresholds of business textbooks and business research articles
for EFL learners. English for Specific Purposes. 30(4). pp.247-257.
Inoué, S., 2013. Video microscopy. Springer Science & Business Media.
Jacobs, R. and Chase, R., 2013. Operations and supply chain management. McGraw-Hill Higher
Education.
Jaggia, S. and et. al., 2016. Essentials of business statistics: communicating with numbers.
McGraw-Hill Education.
Kongstvedt, P. R., 2012. Essentials of managed health care. Jones & Bartlett Publishers.
Ormrod, J. E., 2014. Essentials of educational psychology: Big ideas to guide effective teaching.
Pearson Higher Ed.
Prewitt, J.E., Weil, R. and McClure, A. Q., 2011. Crisis Leadership-An Organizational
Opportunity. Australian Journal of Business and Management Research. 1(6). p.60.
Weaver, S., 2011. The essentials of financial analysis. McGraw Hill Professional.
West, J. B., 2012. Respiratory physiology: the essentials. Lippincott Williams & Wilkins.
Wilson, J., 2014. Essentials of business research: A guide to doing your research project. Sage.
Woiceshyn, J., 2011. A model for ethical decision making in business: Reasoning, intuition, and
rational moral principles. Journal of business Ethics. 104(3). pp.311-323.
Zikmund, W. G. and et. al., 2013. Business research methods. Cengage Learning.
Online
Marketing Plan. 2016. [Online]. Available through: <http://www.business.vic.gov.au/marketing-
sales-and-online/increasing-sales-through-marketing/marketing-plan-template>.
[Accessed on 7 July 2017].
19