P1 Roles and Responsibilities of Marketing Functions - Assignment
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Added on 2020-12-09
P1 Roles and Responsibilities of Marketing Functions - Assignment
Added on 2020-12-09
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MARKETING ESSENTIALS
Table of Contents INTRODUCTION...........................................................................................................................1 LO1..................................................................................................................................................1 P1 Roles and responsibilities of marketing functions............................................................1 P2 Roles and responsibilities of marketing functions relate to wide organisational context.2 M1 Role ad responsibilities of marketing related to marketing environment........................4 M2 Signification of interrelationship between marketing and other functional units............6 LO2..................................................................................................................................................7 P3 Comparison of different organisation which apply marketing mix..................................7 M3 Tactics applied by organisation to achieve business objectives......................................9 LO3................................................................................................................................................10 P4 Develop a basic marketing plan......................................................................................10 CONCLUSION..............................................................................................................................10 REFERENCES..............................................................................................................................11
INTRODUCTION Marketing is the process of producing, buying and selling of products. It makes a relation between producer and customer. It helps to manage business objectives and helps to target customersin efficientmanner. Present study lay emphasis on Coco-cola. It is a British multinational company which has products in terms of soft drinks manly. It is introduced on may 1886 in country of united states. This report is about marketing and their terms relating to marketing functions. It outlines marketing in terms of marketing environment and also it explains about roles and responsibilities of other functional units to have effective relation with marketing unit. This report also frames a basic marketing plan for coco-cola which helps to increase its productivity and market share. LO1 P1 Roles and responsibilities of marketing functions Marketingis a process to manage relation between marketers and customers. Marketing needs functions which describes roles and responsibilities briefly.Marketing functionsare key factorsfororganisationtoadvertiseandpromotetheirproductsagainstfavourable brands(Rowley, 2016). Each marketing function has its own role and responsibilities which are explained below: Market analysis-This function is to give information about competitive market. It analyses customer expectations and demands. The role of market analysis is to determine qualitative and quantitative assessment to analyse economy, demands, crisis, challenges of market. Its responsibility is to evaluate strength and weakness of competitive brands. It helps to reduce risks while taking decisions during process to increase productivity. Coco-cola have a separate research unit to analyse market and gather information according to economy and other competitive favourable brands strength and weakness. Market segmentation-This function is to segment customers on the basis of age, income, location and interests. The main role of market segmentation is to help marketer to target effective customers to increase market share in less time. Segmentation is based on four types geographic, demographic, firmo graphic, behavioural, psycho graphic segmentation. Its responsibility is to divide customers in specified groups. Coco-cola is using demographic segmentation in which they divide the customers according to age as soft drinks are mostly liked by teenagers(West and et.al., 2015). 1
Pricing-It is a function where an organisation or company sets a price for their product according to information analysed from research of market. Main role of pricing is to set prices in desired limit so that it meets customer expectation. It is a part of marketing plan to have productivity. Its responsibility is to take market conditions, account segmentation, economy rate, trade margins, etc. to set price of goods and services. Pricing skimming strategy is used by Coco- cola to set prices of their products. Distribution-It is a function of marketing which distributes goods or services to customers. It can be done directly or indirectly like direct to customers from produces or from retailers to customers. Main role of Distribution is to deliver goods to customers according to their need through stores or home delivery. Its responsibility is to create a network channel through which goods distributes from one place to another throughout the world(Menon and et.al., 2015). Coco-cola monitors and controls distribution channels by having on time report by them, After sales service-This function is to fulfil needs and help to customers after delivering goods to them. Main role of after sales service is to solve the problems of customer as they are suffering with their organisation product. Its main responsibility is to be a customer care means taking care of customers when needed and also to take feedback from them for improvement in products. After sale, services are provided till warranty period. Coco-cola takes feedback from customers in direct selling and advice to them store soft drinks in cold storage. P2 Roles and responsibilities of marketing functions relate to wide organisational context 2
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