The Role of Marketing in Business Growth

The provided report concludes that marketing plays a vital role in the growth and success of a firm. Various roles and responsibilities are included in this function, which are interrelated with other departments of the organization. The marketing mix is applied by companies to their planning process to determine market needs and trends. It assists businesses in attaining their goals and objectives within a definite period.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 Key roles and responsibilities of marketing function............................................................1
P2 Interrelationship of roles and responsibilities of marketing function to organisational
context.........................................................................................................................................2
TASK 2............................................................................................................................................3
P3 Application of marketing mix by firm to marketing planning process to attain objectives. .3
TASK 4............................................................................................................................................6
P4 Development of basic marketing plan...................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES ...............................................................................................................................8

INTRODUCTION
Marketing is an essential concept that is very useful for business organisations in order to
attain high growth as well as long term success in market place (Berkowitz, 2016). It is the
process through which business creates some value for customers and develop a strong & healthy
relationship with them. In the present assignment, given company is TK Maxx which is a
subsidiary of American home goods firm TJX Companies. This report includes role of marketing
and its interrelation with other functional units. It also defines the way in which firms use
marketing mix elements to attain organisational objectives. At last, a basic marketing plan is
develop and evaluated in this report.
TASK 1
P1 Key roles and responsibilities of marketing function
Marketing is defined as set of processes as well as functions for developing,
communicating and delivering some value to consumers and maintain strong relationship with
them. In TK Maxx, important roles and responsibilities of marketing function are defined below:
Product and service management: Under this, target market is identified by manager and
appropriate prices are set of their products. They centres around improving, developing and
maintaining product by concerning various opportunities. Range of goods are offer by company
such as toys, bath and beauty products, furniture, accessories etc.
Pricing: In this marketing function, prices of goods are decided by managers according
to the price of their competitor's products. Firm set reasonable prices of their products in order
to attract large group of customers. Competitive pricing strategy is adopted by company for
getting high sales of their products in market.
Distribution: This function is concerned with supply of goods and the distribution
channels used by company for this (Brassington and Pettitt, 2013). It includes, distributors,
wholesalers, retailers, intermediaries etc. logistics and supply chain management process is also
used for distribution of products. Effective distribution channels helps TK Maxx in supplying
their products on time.
Financing: It is the function that assists in running business operations successfully. For
performing activities in proper manner, finance is very essential. So, firm is require to maintain
adequate amount of funds so that all the tasks can be completed in timely and effective manner.

Manger of TK Maxx ensures proper availability of funds as a results of which their operations
are performed effectively.
Promotion: This function is used by managers of firm in order to promote their product
in market. For this, various tools are used such as advertising, personal selling, sales promotion,
publicity, direct marketing etc. manager of TK Maxx use this function in order to communicate
value and benefits of their goods to their potential customers (Cavusgil and et. al., 2014).
Market research: It is likewise a critical piece of the promoting supervisor. In this, they
direct research and recognize needs and needs of clients. It is additionally extremely basic
keeping in mind the end goal to examine the present patterns of market. Because of this, business
can without much of a stretch recognize requests and needs of purchasers and better fulfilment
for them. Along these lines, it is gainful for organization as through the same, they can build
their deals and additionally accomplish long haul targets adequately.
Selling: It is known as an imperative capacity, in which advertising supervisor bargains
in giving distinctive assortment of sustenance to their purchasers who really require it.
Fundamental thought process of this apparatus is to give superb items to its objective and
potential customers that satisfy their needs or requests. Thus, it is the primary and imperative
perspective so as to pitch all items to the end clients in an orderly way.
P2 Interrelationship of roles and responsibilities of marketing function to organisational context
Marketing is one of the function that is applied by every business firm for attainment of
its objectives in an effective and efficient manner. In an organisation various departments are run
that contributes in its growth and success as a whole (Functions of Marketing, 2017). These
departments includes finance, human resource management, production and operations, research
and development, marketing etc. all these assists in increasing profits and productivity of TK
Maxx. Various departments and their interrelationship with marketing function are defined
below:
Marketing and Human resource management: Main part and obligation of the HR is to
enroll and select knowledgeable competitors who can without much of a stretch accomplish long
haul objectives of the business in particular period of time. Keeping in mind the end goal to give
essential data about empty position, in this supervisor of the showcasing assumes indispensable
part with the assistance of correspondence channels, for example, promotions, advertisements
and other viable methods.

Marketing and Information Technology: For the achievement and advancement of
organization, IT office assumes a vital part for them. They define new plans for playing out all
exercises and plans of organization in an arranged and compelling way. TK Maxx is focussed on
applying progressed and imaginative innovation to catch a high piece of the overall industry. A
market research is conducted by managers for recognizing the necessities and needs of clients
which isn't conceivable without promoting (Cooper, 2013).
Marketing and sales department: Main responsibility of sales administrators is to give
better quality products to their clients at sensible cost. In this they offer diverse items, for
example, beauty products, furniture, clothes, utensils, etc. to their customers in effective prices.
Because of this, all clients are satisfied and buy diverse items in mass, with the goal that yield of
this is expanded deals and higher productivity. So both are connected together with the intention
of accomplishing desired goals and objectives of the organization.
Marketing and Finance department: They are likewise essential part of the organization
which is required for performing day to day operations of business. Without marketing, business
enterprise can not assemble funds for performing their day to day operations. Internal and
external factors are analysed by managers their influence can be determined.
Marketing and operations department: This department is concerned with production of
goods and services. Marketing manager conduct research and collect all the informations
regarding preferences, behaviours and attitudes of customers. They pass all the information to
production department and according to which products are developed. This will help firm in
satisfying their customers in better manner by offering them good quality of products and
services (Jones and Rowley, 2011) .
Marketing and Research and development department: When firm introduce any
product in market both these departments play essential role. Research and development team
conduct market survey and determine market trends, get knowledge about consumer needs and
preferences by taking their feedbacks. All this data and information assists firm in developing
products that meets needs of customers. Marketing manager analyse appropriate tools for
promoting that product in market.
TASK 2
P3 Application of marketing mix by firm to marketing planning process to attain objectives

Marketing mix TK Maxx Cocosa
Product The company offers apparel,
toys, shoes, accessories, bath
& beauty and home products
including kitchen utensils and
furniture. Firm offer quality
products to their customers
(Malhotra, Birks and Wills,
2013).
It is the main competitor of TK
Maxx and offers similar
products as that. They sell
products of high quality at
effective prices which helps
them in attracting customers
more.
Price Company use competitive
pricing strategy and set prices
of their goods less than their
competitors. This helps
company increasing sales of
their products and satisfying
customers by offering goods at
less prices.
Their pricing strategy is
different and use economical
pricing strategy. They set
reasonable prices of their
product. It assists them in
satisfying more numbers of
customers and attracting them
more towards it.
Place Firm perform their operations
in England and offer their
goods and services to
customers by the assistance of
approximately 210 employees.
Availability of various stores
of firm makes it easy for
customers to access their
goods.
Many stores of firm are
available in different countries
through which they offer
goods and services to
customers. With the assistance
of employees, firm enables to
provide their goods to potential
customers in an effective way
(Marketing Mix, 2016).
Promotion Several promotional tools are
used by company for
promoting their goods and
services in market. Firm
In order to attract large group
of customers, various tools and
strategies are used by
company. Various promotional

promote themselves by
advertising, websites,
promotions etc. It assists in
communicating value and
benefits of their goods to
customers (Mihart, 2012).
tools that firm utilize includes
Personal selling, advertising,
etc. that assists them in
attracting customers more and
developing strong consumer
base.
People Skilled employees are hired by
company so that effective
services can be provided to
customers. By the help of 219
employees, they add value to
shopping experience of buyers.
Training is provided by
company that helps employees
in dealing with customers in an
effective and efficient manner.
This will assists them in
providing good experience to
clients.
Process Effective processes are used
by company that makes
purchasing process easy for
customers. They make simple
layout of their store to provide
convenience to buyers.
Processes used by company to
deliver goods and services to
customers are of high
technology which enables
them to provide quick services
to customers (Papasolomou
and Melanthiou, 2012).
Physical Evidence They provides their goods at
their stores which is a physical
evidence of delivering their
goods and services.
A receipt is provided by
company in the form of
physical evidence.
TASK 4
P4 Development of basic marketing plan
Company overview: TK Maxx is one of the company that deals in retail sector. Firm offers
beauty & bath products, accessories, furniture, kitchen utensils etc.

Vision:- It is generally done for long term objectives of business and vision of TK max is to
become global, off price, value company that remain focused on driven profitable sales through
sharp execution of the fundamentals of our off price business model.
Mission statement of company:- It can prepared for short term purposes under which main
objective of company is to provide standard quality of goods and services and enhance brand
image and goodwill of company.
SWOT analysis of TK max:-
SWOT is generally made in order to know the actual position of company in external market so
that company make improvement in their goods services for better sales (Peter and Donnelly,
2011).
Strength
 A chain with more than 1000 stores in
more than 5 different countries.
The price levels in the stores is
comparatively on the lower side.
The stores had growing sales which is a
good sign.
 The online store has been expanding
over the years so also
 The store has excellent presence and
strong focus on customer service.
Weaknesses
 The customer service is not seen as the
best in these stores.
 People find it contradictory that
designer clothes are sold in bulk.
 Many of these department stores have a
very few categories (Shaw and
Director, 2012).
Opportunities
 They have an opportunity to increase
their international market share.
 They have many in store merchandising
activities planned to attract new
customers.
 They are trying to expand the number
of stores across various countries
Threats
 Credit card fraud which happened in
the stores have affected the company’s
reputation.
 Increasing competition in the industry.
 They have to compete more on price
since the competition is increasing.

(Silver and et. al., 2012).
CONCLUSION
As per the above mentioned report, it has been concluded that function of marketing
plays vital role in growth and success of firm. Various roles and responsibilities are included in
this function which are interrelated with other departments of organisation. Marketing mix are
applied by company to their planning process so that market needs and trends can be determined.
It assists firm in attaining its goals and objectives in definite period of time.

REFERENCES
Books and Journals
Berkowitz, E. N., 2016. Essentials of health care marketing. Jones & Bartlett Publishers.
Brassington, F. and Pettitt, S., 2013. Essential of marketing.
Cavusgil, S. T. and et. al., 2014. International business. Pearson Australia.
Cooper, C., 2013. Essentials of tourism. Pearson Higher Ed.
Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual
exploration. International Small Business Journal. 29(1). pp.25-36.
Malhotra, N. K., Birks, D. F. and Wills, P., 2013. Essentials of marketing research. Pearson.
Mihart, C., 2012. Impact of integrated marketing communication on consumer behaviour: effects
on consumer decision–making process. International Journal of Marketing Studies.
4(2). p.121.
Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
friend. Journal of Promotion Management. 18(3). pp.319-328.
Shaw, M. and Director, M. S., 2012. The state of social media. Comscore, Online Marketing
Institute.
Silver, L. and et. al., 2012. The essentials of marketing research. Routledge.
Wirtz, J., 2012. Essentials of services marketing. FT Press.
Online
7 Functions of Marketing, 2017. [Online]. Available through:
<http://smallbusiness.chron.com/functions-marketing-business-32399.html>.
Marketing Mix. 2016. [Online]. Available through:
<http://www.marketingteacher.com/marketing-mix/>.