Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 P1 Key roles and responsibilities of the marketing functions................................................1 P2 Define how roles and responsibilities of marketing relates with organisational context..3 It is important for marketing team in McVitie's to have a strong relation with other departments so that organizational work can be performed in a timely manner. In this respect, interrelation of marketing team with other departments of McVitie's is performed below:. .3 TASK 2............................................................................................................................................5 P3 Compare ways in which different organisations apply market mix to achieve business objectives................................................................................................................................5 TASK 3............................................................................................................................................9 P4 Prepare and evaluate a marketing plan for organization...................................................9 CONCLUSION..............................................................................................................................13 REFERENCES..............................................................................................................................14
INTRODUCTION Marketing is defied as the study and management of exchanged relations in a proper manner. It is a business procedure that helps in creating a strong bond with customers by satisfying their needs in a proper manner. Marketing is evolved as a basic set of activities, procedures and institutions which benefits in creating, exchanging and delivering valuable services to their customer base(Amri, 2017). This assignment is written in context with McVitie's that is a Britain based multinational snacks and food brand. Organisation was established in 1830 at Edinburg, Scotland. This business firm is working under united biscuits and provide products like Jaffa cakes, chocolate digestives, Hobnobs and rich tea to the customer base. This report is going to mention the responsibilities and roles of marketing function along with importance of interrelation among different units of organisation. Beside this, a marketing mix is carried out to identify the position of company in market place. At last, an effective marketing plan is prepared so that organisation can achieve its goals and targets in a proper manner. TASK 1 P1 Key roles and responsibilities of the marketing functions To attain expected outcomes, manager of different departments are required to perform various activities. In case of marketing department, manager is given the duty to perform advertisements and marketing related activities so that objectives of company can be achieved desirably. Marketing department in McVitie's holds a strong position in company as they benefits in retaining customers for a large time period. By this, company will achieve high sales and revenues. In context with McVitie's, roles and responsibilities of marketing function are mentioned below:Maintaining customer satisfaction:It is the responsibility of marketing department in a company to enhance the satisfaction of consumers by offering them expected services or products. In case of McVitie's, marketing team is responsible for sustaining the customers of company for a long time period. Duty of marketing team in McVitie's is to ensure customers that they will be given only standardised and good products. Marketing team of company can retain their customers with the help of online platforms, feedbacks and surveys. By this, company will be able to understand the issues and problems faced by 1
customers in a proper manner. If marketing department of McVitie's will not consider about the satisfaction level of customers. It will results the company with low market shares and sales(Baack, Harris and Baack, 2013). Conduction of market research:The marketing department in McVitie's has the responsibility to conduct a marketing research. This will allow the company in offering services or products to consumers as per their expectations. By carrying out market research, manager of marketing team will be able to design effective policies that will help concerned company in gaining competitive advantage over rivals. This will results the company in achieving high market shares(Bačík, Štefko and Gburová, 2014). If the marketing unit in McVitie's is not able to conduct market research in an appropriate way then it will be complex for company to sustain in market for a long time period. Due to this, popularity of company in marketplace will also reduce. Responsibilities of marketing department in different market environment MaintainingBrandequity:MarketingdepartmentinMcVitie'sisgiventhe responsibility to maintain brand equity of company so that high profits can be earned by company. It is only possible by targeting right people with right product. By this, requirements of people will be fulfilled and reputation of company will enhance. Marketing unit ofMcVitie's can increase brand equity of their organisation by carrying out promotional activities through advertisements, magazines, TV, newspaper etc.If brand equity of company will not increase then gaining advantage over competitors like Mondlelez organisation will not be possible. Strategy formulation:It is the responsibility of marketing department in an organisation to develop effective strategies so that high sales can be earned. This will allow the company to sustain a strong position in market place. Marketing and business strategies will benefits McVitie's to adopt various tools that will helps the company in enhancing their customer base in a desired manner(Baker and Saren, 2016). If the marketing unit of concerned company will not make effective strategies, company will not be able to achieve high sales. Due to this, earning desired outcomes will not be possible. Marketing in B2B and B2C B2B is abbreviated as business for business marketing in which an organisation or person focuses on the practical use and logic of product rather than buying products by taking emotional 2
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decisions. In this kind of marketing, business personal have no emotions at the time of purchasing the products of company. If a product has no important or role for that person, they are not going to buy it. Business to customers is called as B2C marketing in which people take decision to choose a product by using their emotional aspect. If company will show emotional side of product, customer will become eager to buy it. P2 Define how roles and responsibilities of marketing relates with organisational context It is important for marketing team in McVitie's to have a strong relation with other departments so that organizational work can be performed in a timely manner. In this respect, interrelation of marketing team with other departments of McVitie's is performed below:Marketing and finance department:Role of finance department in an organization is to manage all the work related with funds and finance. It is the duty of finance department to allocate a proper budget for company so that all the activities can be performed in allotted budget only. This department also provide money to marketing department so that their operations and activities can be performed in a systematic way. Role of marketing department is to identify the potential investors for company so that no shortage of funds will be faced(Brady, 2014). For example- marketing department wants to promote offerings which requires funds therefore, marketing head have responsibility to contact with financial head so that required funds can be arranged easily. Therefore, it can be said that interdependence between these divisions are higher and supports the McVitie's in achieving its desired goals. The roles and responsibilities of these two departments are interrelated with each other which increases the chances of achieving organizational goals and objectives within limited time period.Marketing and sales department:Sales department in an organisation have the role to sold services or products to customers in large quantity. This will allow the company to earn high profits and revenues. McVitie’s can gain the attention and trust of consumers with the help of promotion, feedbacks, surveys etc. which are carried out by marketing department of company. Due to this, company is able to identify which products are achieving high sales and which products are not performing well in marketplace. Also, the marketing unit is responsible to gather information about the requirements of customers. Due to this, sales department is able to stock those products in high quantity and sales targets are achieved. If these two departments of a company are not going to 3
work in a collaborated manner then, it will be difficult for sales department to identify the needs of customers(Clow and James, 2013). Due to this, interest of customers towards the products of McVitie’s will decrease and it will impact the sales & profits of company in a negative manner.Marketing and production department:The role of production department in McVitie’s is to produce products in accordance with the requirements of customers. All the product formulation is carried out by this department only. Whereas the marketing department of company has the duty to collect feedback and opinions of customers for the products which are offered by company and tell production department about those products which areinhighdemandincomparisonwithotherproducts.Bythis,theproduction department of company will get to know if the products produced by them are liked by customers or not. If customers are not satisfied with product, then production team can carry out modifications in accordance with that. This will benefit the company in achieving high sales and revenues(Desai, 2013). If these two department of McVitie’s will not work in a unified manner, then it will be difficult for company to produce those good and products which are needed by customer base. Due to this customer can start using the same products which are provided by other company that will results in revenue loss. For example, the marketing department in McVitie’s perform a market research to acknowledge the preference and needs of customers so that demanded product can be produced by production department in bulk amount. Marketing and HR department:Human resource department in an organisation have the responsibility to hire talented employees which are capable to perform well in difficult and complex situations. For this, company is needed to share and advertise about the vacant position, qualification for applicants who can apply for this post and venue of interview etc. All this work is performed by marketing department of McVitiies. Marketing manager of concerned company is given the duty to acknowledge more and more people about the vacant job so that more number of talented people can apply for the job role. In case of marketing department, to perform their work in an efficient and timely way, skilled workforce is needed which is hired by HR department of company. Marketing head tells HR department about their requirements in employees and in accordance with that recruitment takes place. In this way both department assists each 4
other in performing their works desirably. If these two departments will not work in a coordinated manner, then it will be impossible for company to have efficient employees due to which overall productivity of company will reduce. TASK 2 P3 Compare ways in which different organisations apply market mix to achieve business objectives Marketing mix is referred the association of marketing variables that are controlled by a company so that targeted customers can be reached in a desired manner. This tool will benefit the company in influencing customers about their products. Marketing mix benefits in gaining consumer attention due to which market share of company hikes in a considerable manner(Joshi, 2012). To acknowledge position of company in market place, different aspects like product, price, promotion, place, people, physical evidence etc. are discussed. It is a basic tactic which is implemented by a business firm before starting a new business. Marketing mix is going to benefits McVitie’s in understanding their customers about products or service so that high sales and profit margins can be adopted in a proper manner. BasisMcVitie'sMondelez International ProductAsMcVitie’sisperformingtheir businessoperationsatworldwide, company has a wide product line. The main aim of company is to provide highqualityproductstotheir customers in less price so that high profitsandsalescanbeearned. Companyspecialisesinoffering productslikeJaffacakes,figrolls, penguin,hobnobs,Krackawheats, digestives, nibbles, waffles, iced cakes etc. other than this, organisation also It is a renowned organisation which sells their products in five categories at global context.Eachcategoryofcompany possessesaseparateproductline.As company has vast number of products to offer their customers. Main products of company are dairy products, baby food, cereals, breakfast, pet food, ice cream, bottled water, confectioner etc. main aim of company is to offer high quality and new products to their customers that can’t be replaced by the products offered by 5
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offersproductslikedairyitems, chocolatesandcoffeetotheir consumers rivals. PricePrice of products which are offered by McVitie’s are high due to their high nutritional values and high quality. To attainwidesales,companyuses bundlingpricestrategyinwhich differentproductsofcompanyare bundled and given to customers in less ratesincomparisonwiththe individual products. Online products offeredbycompanyarepricedin accordancetotheirinnovativeand uniqueness value. This is the reason some of the products of company ae charged high then other. Basic pricing strategy used by company to target customers is economic pricing so that high sales can be achieved(Lipsman and et. al., 2012). Company prefers to choose competitive pricing strategy in which the rate of a products is marked after acknowledging the prices set by rival companies. This helpsthecompanyingivingtough competitiontorivals.Thoseproducts which are unique to company are charged premium rates so that high class people can be targeted for that unique product. Thisbenefitsthecompanyingaining attentionfromhighclassinaproper manner.Onlineproductsofferedby company are priced high in comparison withthesameproductswhichare availableatstore.Thisisduetothe expensesofdeliverychargewhichis faced by company while offering product to customers. PlaceOrganisation is a leading manufacturer of biscuits and manage their business operationsinaround120countries situated in Middle east, Africa, Asia, America, US etc. customers can easily buy the productsof company from both offline and online mediums. In context with offline medium, customer canbuyproductfromstoresand To sell its products at both domestic and internalmarket,companyhastwo marketingchannels.Thefirstchannel used by company is the online platform through which customers directly order andreceivetheproduct.Insecond channel, organisation sold their product to wholesalers which sold these products to retail stores in different location around 6
outlets. Products sold by company are easily available at every departmental or retail store. Company takes the help pf extensive marketing strategy to sold their product in maximum places. globe.Companymainlyoperatesin European nations and some countries of American & Asian continent(Long and Jerath, 2018). PromotionCompanyusesvariousmethodsto promoteandadvertiseabouttheir products in a desired manner. In this context, company takes the help of co- branding in which McVitie;s sell their products at events, social gatherings, festsetc.atbothdomesticand internationallevel.Also,company takes the help of online and social media platform like Facebook, Twitter etc. to promote about them.With the helpoftraditionalmedialikeTV, newspaperetc.companycarryout belowthelineandabovetheline promotions.Bythis,customersare abletogainrequiredinformation about products. Company can take the help of different media channels so that their services or productscanbeadvertisedinan appropriateway.IncaseofMondelez international,mainpromotionsof company are carried out with the help of traditionalmedialikeradio,magazine, TV,newspaperetc.Managerof concerned organisation also uses social mediatoadvertiseandacknowledge peopleabouttheirproducts.Company also goes for personal selling so that their presenceinpersonalstorescanbe enhancedconsiderably.Inorderto identifytheirpromotionalbudget, company takes the help of percentage of sales method. ProcessIn order to ensure that an organisation provides only high quality products, company has adopted lean operational methodology where those procedures and activities are avoided that do not add value to the product. Due to this, operational cost of company decreases and company also follows an online Thisorganisationensuresthatthe products of company are easily available and assessable for customers at nearby retail stores. Due to this, company has installed a system in retail stores by which retailers and wholesalers of company can easily acknowledge company about the unavailabilityofrequiredproducts. 7
procedure where products are sold at different discounted rates and offers like buy one get one free etc. Beside this, company has a feedback and delivery process so that satisfaction level ofcustomersforcompanycanbe sustained in a proper manner. PeopleOrganisation believe that they are able to achieve their targets and objectives only if their employees will be happy. Thisisthereason,needsand requirement of employees are given highconsideration.Inthiscontext, companyprovidetrainingand developmentsessionstotheir workforce so that they can retain in company for a larger time. Workforce of a company are their main assets. Without their efforts, organisation can never achieve their aims and targets inapropermanner.Inthiscontext, company provide training sessions to the employees du to which they feel confident andmotivatedwhileperforming organisational work in a proper manner (Lovelock, 2011). Physical evidence Productswhichareofferedby McVities are packed in a particular themedpackagesduetowhich customerscaneasilyidentifythem. Thisisaphysicalevidencefor company. Also the official website of thecompanyandtheretailstores whichprovidestheproductsof concerned companies also acts as a physical evidence for the organisation. Products and goods which are offered by the Mondelez international are packed in a coloured packaging that is very easy to distinguish. Headquarter and warehouses ofcompanyalongwiththeirofficial website acts as a strong physical evidence for the concerned organisation. Also, the outlets which have their products acts as a strong physical evidence. With the help of marketing mix, it can be identified that company holds a strong position in market but there are some fields in which company is required to improve themselves.Also, company can use pricing strategies like price skimming so that products of company can be sold in large amount and high sales can be achieved. Also, to beat the sales of rivals like Mondelez 8
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international, company can use psychological pricing for more products. Due to minor difference in rates, company will be able to grab millions of customers(Mueller and et. al., 2015). TASK 3 P4 Prepare and evaluate a marketing plan for organization Marketing plan:It is a formal document which helps the organisation in launching a new production. Company like McVitie's should focus on marketing plan as it will allow them to identify the marketing and advertising strategy, current marketing position of the company, avoiding future uncertainties and to ensure the success of new products or services provided by the company to their potential customers so that the customers can get full satisfaction. Marketing plan of company will act as a blue print that will include different activities which results in achievements of targets and objectives. In this context, company is going to introduce a new product in market i.e. McVitie’s protein shake. This Protein shake will help the customers in sustaining a healthy and nourished life. As shake will be available in different flavours, company is aiming to achieve wired success(Nicholls and et. al., 2013). Situation SWOT Analysis –It is abbreviated as strength, weakness, opportunities and threats. It is a strategic tool that will benefits the company in understanding their strengths and weaknesses before launching a new product in market. Also, opportunities and threats related with new product will also acknowledged. In this context, SWOT on McVitie’s is mentioned below: STRENGTHWEAKNESS Major aim of company is to provide healthyfoodandsnackstotheir consumers. Due to this, new product of company i.e. McVitie’s protein shake will be gain wide popularity due to its nutritional content(Papasolomou and Melanthiou, 2012). Retail sector is highly competitive in which different organisations compete against each other to earn high revenues and profits. Hence, it will be difficult for the new product to sustain a strong position in market OPPORTUNITYTHREAT As company is going to introduce aMarketing environment of retail sector 9
new product in market, manager of company can adopt different measures likeadvertising,providingfree samples,promotionssothatpeople fromdifferentsegmentscanbe attracted desirably. is very uncertain due to which there are many risks that can be faced by organisationlikeproductfailure, reduced customer base etc. Which can be a big threat for the company. PEST analysis:With the help of this analysis, it will be easier for McVitie’s to acknowledge external business environment in a proper manner. In context with company, PESLTE analysis is mentioned below: Political factor: Before launching a new product, it is important for the manager of company to identify political stability, tax and tariffs of the region where product will be served. If region will be political unstable or tax charges will be high, company will have to face loss of revenues(Pudaruth, and Nursing, 2017). Economic factors:These are concerned with the growth, GPD of nation, interest & inflation rate and purchasing power of people. Company in needed to launch their product in those region where people have disposable income so that they can earn high returns. Social factors:These factors are related with the lifestyle and living standard of people. People in countries like UK and US are very health conscious due to which Mcvitie;s protein shake is going to earn high sales there. Technological factors:to gain advantage over rivals, company in needed to update their technology on regular basis as per customer requirements. Company can use advance technology to prepare protein shake due to which customers will prefer it in a proper manner(Rossi, Allenby and McCulloch, 2012). Objectives-SMART objectives of company in context with new product launch are mentioned below: Specific- Company wants to increase their profits by 10%. Measurable- with the help of past year performance, this year’s performance will be measured. 10
Assignable- Team assigned for this project will be guided by leadership management style. Realistic- New product is going to introduce in market to increase health of customers along with enhancement of market shares of company. Timely bound-Estimated time for product launch is 6 months. Strategy-Company is going to adopt strategies and plans in accordance with the targeted section of society. Source- SEGMENTATION TARGETING ADN POSITIONING.2015 Segmentation- In this procedure, population is divided into different segments in accordance with their geography, behaviour, psychographics and demographics. McVities is going to segment people on the basis of demographics. Targeting- Out if entire population, company is going to target adult aged up to 50 and teenagers as they are highly conscious about their health. They will surely like the protein shake offered by company(Silver and et al, 2012). 11 Illustration1: SEGMENTATION TARGETING AND POSITIONING
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Positioning- The new product is going to be positioned at different local stores and departments so that customers can easily access them. McVitie’s protein shake will also available at different online purchasing sites. Action Plan Budget allocation:Company has estimated a budget of 700 million pounds for this project. All the activities related with project will be performed within this amount. Marketing Mix Product:Company is going to introduce McVitie’s protein shake which will be available in different flavours. Price:This price will be moderately priced so that all health conscious people can buy it without facing complexities. Place:This product will be available at different retail and departmental stores where other products of McVitie’s are sold. Promote:Company is going to promote this product with the help of traditional and social media like Fb, newspaper, TV, radio etc. Forecast: Cost:Required cost for the production of new products are mentioned below: ParticularsAmount (€) Advertisement120000 Catalogues80000 Machinery180000 Raw materials130000 Sales:Company has planned to increase sale by 15%. Profits:10% increment in profit margins in upcoming 6 months. Market share:By introducing McVitie’s protein shake, company wants to increase market shares by 20%. Control:McVitie's is using key performance indicator in order to measure all the activities carried out in the business. Here, business associates can also compare past and present 12
performance so that gap or differences can be examined and tactics can be designed to achieve it (William and Zikmund, 2012). CONCLUSION From above mentioned report, it is concluded that marketing function plays an important role in the success of a firm with the help of advertisements and promotion.McVitie's can take the help of marketing function like conducting market research, satisfying customers so that high customer base can be sustained for long time period. Marketing department in McVitie's must work in coordination with other department so that work related activities can be performed effectively.Marketing mix will help McVitie's to identify their performance in market against the performance of rival organisations.Marketing plan will help the concerned company McVitie's in developing strategies so that desired revenues and sales can be achieved. 13
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