P1. Roles and Responsibilities of Marketing Function
Added on 2020-10-04
28 Pages4886 Words238 Views
MARKETING ESSENTIALS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1P1. Roles and responsibilities of marketing function.............................................................1P2. Roles and responsibilities of marketing relating to the wider organisational context ....3M1. Roles and responsibilities of marketing with reference to marketing environment.......6D1 Key elements of marketing function and their interrelationship with other functional units...............................................................................................................................................10M2. Significance of interrelationship between marketing and other functional units.........10LO2................................................................................................................................................11P3 Marketing mix can be applied to marketing planning process. ......................................11M3. Different tactics applied by company to achieve business objectives..........................15LO3................................................................................................................................................16P4. Produce and evaluate basic marketing plan for company..............................................16CONCLUSION..............................................................................................................................25REFERENCES................................................................................................................................1
INTRODUCTIONMarketing is one of the major business activities which is related with selling of goods tofinal customers. An organisation’s main aim is to develop and produce that product which is inhigh demand from the side of customers. Marketing essentials can be defined as all the majorfunctions which have been performed with the help of marketing tools. Important factors that areincluded in marketing essentials are market strategies, research and positioning, competitiveanalysis, budgeting and so on. This is the reason, it is important for each and every company touse the best marketing strategies with which they can achieve their targets (Archpru, Akaka andChandler, 2011). This report is mainly based upon the implementation of major marketingstrategies of Wilkinson in order to increase their market shares. Itcan only be achieved once thecompany will use all elements of marketing essentials. Thus, Wilkinson needs to be aware of thetactics of marketing in order to gain maximum number of market shares. It also underlines theroles and responsibility of marketing and its interrelationship with other functional units.LO1P1. Roles and responsibilities of marketing functionMarketing is one of the core functions of any organisation. In context of Wilkinson whichmainly deals in household goods and home-wares, firm needs to adopt essential marketingstrategies with the help of which they can capture maximum market share. Marketing is one ofthe crucial functions of company in order to deliver the best products and services to customersby using a number of methods, techniques or concepts (Jones, and Rowley, 2011). Its major rolesand responsibilities can be defined as follows: Market Research- It can be very well estimated that before the establishment of anyorganisation, there are so many important tasks that have to be performed. In otherwords, a set of things needs to be done prior commencing the business. Market researchis one of the top most responsibilities of marketing functions (Berthon and et. al., 2012).This is related with a broader aspect of marketing. It is requited by the Wilkinson toconduct a market research in such a manner that they can find out the potentialcustomers. This will also lead to develop and create a set of ideas upon which the majortrend of market can be estimated. It is also very important to know the level ofcompetition and their major strengths and this can all tapped by conducting market1
research. This will further help the company to take decision and formulate strategies fortheir business plans. There can be various purpose of conducing market research. On the basis of organisation's goals, objective, mission, vision and target, a marketresearch needs to be done (Menegaki, 2012). This will lead to evaluate a number of perspectivefor which the entire market research has been conducted. It is considered as the coreresponsibility that is being performed by marketing department. As far as Wilkinson isconcerned, it is required to conduct a market research in order to estimate the ways by whichthey can attain maximum market shares. This will be done by their marketing department(Bibeau and et. al., 2012). All the major steps of this department has been taken by theirmarketing manager. It plays a major role in determining ways by which company can shine inmarket by producing the best quality products and services for customers. This will also lead tocreate a strong brand image of the organisation as well as company will be able to achieve itstarget goals in the most effective manner. Promotion- Second most important role that is being performed by the marketingdepartment is the way by which company promotes their products and services. It hasbeen very well said that a product would not be recognised by the consumer irrespectiveof its benefit until and unless it is promoted by company with the help of some majormethods and techniques. Thus, promotion holds an important position in estimating thesuccess of the company (Digital marketing essentials, 2017). There are various tools ofpromotion such as advertising through social media, television, newspaper, magazinesetc. With the help of various promotional techniques, customers will be able to knowabout the basic features and benefit of the products served by Wilkinson. This solves thepurpose of organisation for which they are in the market. Getting maximum number ofmarket shares and profit will lead to make the company more strong in the industry. Thiswill help to provide them the stability with which they can expand their market capture. Distribution- This is again a very important role that is being performed by head ofmarketing. It is related with the medium through which products gets delivered to thecustomers. There can be several modes of distribution depending upon company's aimand objective. Channel of distribution helps the company to ensure that products arereaching to the right customers without wastage of time (Blythe, 2012). There are a seriesof steps involved in determining and setting up right distribution channel for Wilkinson.2
The very first step is to evaluate the basis of which customer will buy the products andservices. This is certainly done under the guidelines of marketing manager. Second phaseis to match needs and wants of the final customers to the selected distribution strategy.Next step is to select the best type of channel as per company's goals and objectives. Inthe fourth step, company needs to find out distribution partner and in the last step citedorganisation needs to manage selected channel. Marketing Information management: Gathered information after the market researchneeds to be managed properly. Other market information includes data regardingcompetitors, market environment etc. It can be utilised for formulating future businessplans. It is role of marketing team to gather and evaluate this information so that it couldassist decision making process.Product and service management: There must be effective management of company'sproduct and services so that value can be added to it. It relates to designing, developing,maintaining and improving quality of services and products. It includes all essentialmeasures so that offered product catalogue can be changed.Pricing: In order to attract large number of people towards company’s product andservices proper pricing needs to be done. It is their important role to do attractive pricing.It is done after evaluation of competitor’s strategy.Thus, on the basis of above major roles associated with marketing functions, it can bevery well estimated that marketing plays an important role in determining the success of thecompany in market. This will lead to develop ways by which company's products and servicesreaches to the customer in the most effective manner (Cherian and Jacob, 2012). There are manyfunctions of marketing other than distribution, market research and promotion which equallyplays crucial role in fostering the effectiveness if the organisation in the market. P2. Roles and responsibilities of marketing relating to the wider organisational context As discussed above, functions of marketing plays a major role in order to maintaincompany's best performance in the market. Apart from the major areas that is being coveredunder marketing, it has been noticed that it also affects other functional unit of mentionedcompany that is Wilkinson. Task such as advertising, pricing, selling and many more directlyaffect other major functions of the company as well (Yi and Gong, 2013). Given below are some3
of the ways by which marketing functions can be evaluated on the major ground of otherfunctions of organisation. Direct link between market research and finance department- As stated above,market research has been conducted by Wilkinson in order to measure some or the otherinformation. First it will help the company to find out the latest trend in the market. Theywill also evaluate their rivalry's budget and performance. Basic requirement of the marketand customers are evaluated with help of market research. On the other side financedepartment is responsible for ensuring adequate amount of funds so that all the resourcescan be arranged. Thus, it can be very well estimated that the functions such as marketresearch that is being performed by marketing department directly affects finance as wellas other department of the company (Gordon, 2012). Finance department on the basis ofrecord being collected by market research will make such budget which can be easilyimplemented. Market research will not only help the finance department but it also leavessome major impact on the rest of the functions performed within the organisation.Promotion will help the sales department- As stated above, promotion is the mostimportant tool of an organisation which can ensure popularity of products and servicesamong potential customers. Company used several forms of promotion in order to getbest public response. This helps the consumer to get fully aware about the benefits andadvantages of using some particular product. On the other side, sales department isresponsible for taking all the major decision which can enhanced the sales margin for thecompany. Various techniques that is being used under sales will be affected bypromotion. There can be some alteration or replacement of methods and tools used insales department on the basis of promotion. Thus, it can be easily evaluated thatpromotion being one of the core functions of marketing will help the other department ofthe company like sales to work in the most effective manner (Hays, Page and Buhalis,2013). That is why, it is required by the Wilkinson to understand the importance ofmarketing team. With the help of various promotional techniques, Wilkinson would beable to direct their sales department in such a way that they can take best possibledecision. This will improve the sales of company. In this way, organisation will be able toget best possible position in the market and its efficiency will also increase. 4
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