Marketing Essentials - TK Max Assignment
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Added on 2021-01-01
Marketing Essentials - TK Max Assignment
Added on 2021-01-01
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Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Explain key roles and responsibilities of the marketing functions....................................1P2 Roles and Responsibilities of Marketing relate to wider organisational context..............2TASK 2............................................................................................................................................4P3 Comparison of application of marketing mix by different organisations for achievingbusiness objectives.................................................................................................................4TASK 3............................................................................................................................................8P4 Produce marketing plan for TK MAX..............................................................................8Produce a detailed coherent evidence based marketing plan ................................................83) Design a strategic marketing plan....................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing is an effective study of exchanging relationship by delivering quality goodsand services to customers. With the help of this process company easily enhance theirprofitability level by serving as well as delivering quality services to its customers as per theirneeds. Along with this, marketing concept also helps in inviting and attracting large number ofcustomers in relation to company products and services. Present report is based on TK Max, isAmerican apparel and home good company. They serve clothing and bedding products to itscustomers (Cleverley, 2017). This report discussed about various key roles and responsibilities ofmarketing function in order to attain set goals and objectives in appropriate time frame. Alongwith this marketing mix is also mentioned in this report to create customers base. In addition ofthis marketing plan also discussed in this assignment which may leads in establishing strongbrand image at market place. TASK 1P1 Explain key roles and responsibilities of the marketing functionsMarketing is an important concept which help business organization to attain bettersuccess at market place by creating strong customers base. With the help of this company deliverquality products and services to its customers as per their needs and wants which may enhanceprofitability level (Wirtz, 2012). Basically, it is an important procedure through which firmimplement as well as formulate appropriate plan in order to manufacture quality products andservices which may maximize the profitability level at market place. In context of TK Max, theyalso easily communicate with their customers towards the company products and services whichaid in increasing overall sales of the firm at market place (Clow and James, 2013.). In addition ofthis, there are some major roles and responsibilities of marketing functions which directlycontribute in improving overall performance level. All these can be understood by followingpoints:Product: One of the main role of marketing function is to produce as well as deliverquality products to end customers in order to provide them better satisfaction. In contextof TK Max, it is important for them to produce quality clothes and furniture to their targetcustomers which may leads in enhancing their profitability level at market place and atthe same time also capture larger market share form its rivals.1
Price: The main responsibility of marketing function is to set right price of products asper their quality and features. Basically it is monetary term through which companyincrease their profitability level. Price defines product quality and its value in marketplace. Thus it is important for marketing manager to set their product price affordablewhich may influence customers to buy it. With the help of this company also reduce thechances of switching customers to another company. This will aid in increasingprofitability level of company (Durmaz, 2011). Selling: Under this, firm offer their final products to customers at affordable cost. It alsoinfluence as well as attract customers towards the company products. This process usedby the company in exchange for money which may help company to improve theirperformance at market place and at the same time also increase productivity level.Promotion: It is one of the main responsibility of marketing function in which companypromote their services by communicating with their customers. This will also aid inincreasing public awareness towards the company and its services as well (Silver and et.al., 2012). By using effective tool of promotion company easily increase customers basewhich contribute in capturing larger market share form its rivals. Management information system (MIS): It is main duty of manager of marketing tomanage all the information of company products and services. For this, managerundertake an effective research in which they easily understand customers needs andwants. Basically, it is multiple online system which aid in analysing the information inorder to take right decision. P2 Roles and Responsibilities of Marketing relate to wider organisational contextBasically, marketing is used by each and every business organization to understand aswell a create customers satisfaction which directly contribute in attaining better growth level atmarket place (Fırat, 2013). This will aid in creating customers base which contribute in capturinglarger market share form its rivals.As per current scenario, every business organization improve their overall performancelevel by using marketing concept which may contribute in increasing profitability level of thecompany. Along with this, manager also play vital role in managing as well as implementing allthe activities in effective way which may leads in capturing larger market share form its rivals. Italso contribute in establishing positive image at market place. In this context, there are some2
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