Marketing of Rolls Royce Assignment
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Added on 2021-02-20
Marketing of Rolls Royce Assignment
Added on 2021-02-20
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MARKETING
Table of ContentsINTRODUCTION...........................................................................................................................3P1. Roles of marketing function.............................................................................................3P2. Roles of marketing in broader organisational context.....................................................4P3. Distinguishing marketing mix of Rolls Royce with that of rival firm.............................5P4. Marketing Plan.................................................................................................................9CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................152
INTRODUCTIONMarketing is an activity that focuses the money, efforts and initiatives of companytowards the promotion of offerings of an entity among the public so as to persuade them to makea purchase. Marketing plays a crucial role in accelerating the sales of an entity by creatingawareness about the commodities offered by company within the market place. This helps thecorporation in building a loyal customer base by meeting the commitments made to customerswhile marketing the offerings among people. This report has been carried out to gain knowledgeof marketing and associated practices within Rolls Royce. This is a multinational engineeringcorporation engaged in the designing, manufacturing and distribution of power systems foraviation and development of cars. This report comprises of roles and responsibilities ofmarketing function as well as its application within the organisation. Further, the marketing mixof company is distinguished with rival firm. Lastly, a marketing plan has been devised by entity.P1. Roles of marketing functionMarketing can be referred to as the integration of all those practices and processes thatstrive to establish an image of company and its offerings among people within the market place.It comprises of activities such as research, product promotion, advertisement, customer service,after sale etc. With respect to Rolls Royce, the roles and responsibilities of marketing functionare stipulated below:-Creation of marketing campaigns: One of the most valuable roles of marketing functionis to develop marketing campaigns for short or long period of time. With the help of thesecampaigns, organisations aim at strengthening its brand image as well as market positioning.Marketing functions obtains a control over all the campaigns that are run by the company forvarious types of products of organisation. In this regard, Rolls Royce has been an organisationthat is largely relying upon this to maintain a favourable image in the minds of customers so as toretain them for a long duration of time in future. Promotion of brand image: Yet another important role of marketing function is topromote the brand image among the customers. With the help of this, organisation communicatesthe beliefs, ideologies as well as the features of products to customers. When the attributescommunicated to consumers match the actual quality of commodities, this tends to raise their3
satisfaction level and instil a sense of loyalty and trust among them. Through marketing, RollsRoyce promotes a positive image of brand in the mindsets of people.Market research: Customers are treated as the most supreme aspect for a company. Animportant role of marketing is to carry out constant market research in order to identify the needsand preferences of people. With the ascertainment of lifestyle of population, it is easier for RollsRoyce to come up with products which cater to the expectations of consumers and keep them in-tacked with the enterprise. This helps the entity in enhancing its sales as well as profitability.P2. Roles of marketing in broader organisational contextMarketing has a significant role within an organisation. The importance of marketingwithin an entity can be easily comprehended by gaining knowledge of the interrelationship ofthis department with other functional departments of entity. To facilitate growth and success of acompany, it is essential that coordination and cooperation is set among various departments. Incontext of Rolls Royce, it is seen that marketing department operates in collaboration with otherunits to attain the organisational goals and objectives in the desired manner within stipulatedcourse of time. The strategies are devised by marketing department after communicating with theother units of business. This helps in effective execution of activities and processes within theorganisational premises and raises the productivity and performance of company. In this regard,the interrelation of marketing with other departments of Rolls Royce is discussed as follows:-Marketing with HR: The major role of HR department is to select and recruit skilled,competent and knowledgeable persons who possess the potential to effectively execute theactivities of company. In this regard, the marketing department within Rolls Royce communicatethe skills and tactics that are required to be present within marketing personnel. In response tothis, HR then hires candidates for marketing department so that awareness about offerings ofcompany can be effective made, thereby enhancing the sales as well as profitability.Marketing with R&D: The primary role of R&D is to carry out research about the latesttrends and lifestyles of people as well as market place. In this regard, the R&D departmentcommunicate the latest trends and techniques being taken into use by rival firms in order tocreate publicity of offerings of entity. The marketing department of Rolls Royce then undertakesimilar or better activities in order to build awareness about the company's product portfolio andto create a loyal customer base within the market place.4
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