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P1 Roles and Responsibilities of Marketing Function

   

Added on  2020-10-22

18 Pages6359 Words328 Views
Business DevelopmentLeadership ManagementMarketingData Science and Big Data
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Marketing Essentials
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Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1 ...........................................................................................................................................1P1 Roles and responsibilities of marketing functions ................................................................1P2 Roles and responsibilities of marketing relate to the wider organisational context. ..........4TASK 3............................................................................................................................................1P3 Comparison of Marketing mix of Coca Cola with other organisation...................................1TASK 4 ...........................................................................................................................................5P4 Produce and evaluate the basic marketing plan for the organisation.....................................5CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9.......................................................................................................................................................10
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INTRODUCTION The concept of marketing is not only about selling and advertising but it broadly focus oncreating a positive and profitable relationships. If the marketer identify or analyse the factorswhich is essential for every business expansion such as customer needs, develop product thatprovide superior customer value and fair price, effective distribution channels and impressivepromotional activities etc. With the help of these factors company can easily sell out theirproduct and attain high level of profitability and productivity (Armstrong and et. al., 2014). Insimple terms marketing is a process by which companies create values and build effectiverelationship with customers in order to capture values from customers and gain competitiveadvantage. Apart from this today marketers has vital role for the social and environmental factorsin order to enlarge the business operation effectively and efficiently. In context to Coca – Cola,one of the world famous and largest brands in the beverage industry which is founded in the yearof 1886. It's headquartered in United States and it is operate in 200 countries across the globe.This report covers roles and responsibilities of marketing functions, interrelationship betweenmarketing and with other business functions, influence of marketing mix in business operationsand develop new marketing plan for company. TASK 1 P1 Roles and responsibilities of marketing functions Marketing is the premier component of business management as it mainly concerned onsatisfying customer and create value for them in order to achieve high proficiency. The termmarketing word is derived from market as it defines that market is a place where buyers orsellers come or meet together and enter into a transaction including transfer of ownership ofgoods and services (Baines, Fill and Page, 2013). Hence, marketing is the management processof identifying, anticipating and satisfying customer needs and wants in order to attain high levelof profitability and productivity. Modern marketing is the heart or strength of industrial activityas it tells what, when and how to produce along with this it guides and controls the businessoperation. Apart from this it is a goal oriented as it's main purpose is to profit maximisationthrough satisfaction of human needs. It has wide area of scope as it covers all the businessactivities from the conception of ideas to realisation of profit such as study of consumerbehaviour and their wants and needs, product planning and development, packaging and
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branding. However, marketing is a complex, dynamic and interrelated process and it involvescontinuous planning, implementation and control. In current scenario company's survival andexistence is depend upon their marketing effort joined by financial operation among otherfunctions within their structure (Bergh and et. al., 2014). Thus, it plays a vital role in establishingrelationship between customers and organisation. Along with this marketing function starts fromidentifying or analysing consumer needs and ends with satisfying those needs. Some of the keyroles of marketing functions are as follows: Customer support service: Customers are the backbone for every business growth andexpansion. The main aim of marketing is to satisfy customer needs and wants in orderto attain competitive advantage. Apart from this it helps company to achieve their goaland objective effectively because it is customer centric. However, marketing enable thecompany to satisfy the need and wants of customer in order to survive or sustain in themarket for long term. Part from this marketing function helps to handle customercomplaints by providing positive response which build better relationship. Promotion: Marketing enable company to use several tools for promoting the productin order to expand the business. Some of the promotional tools are sales promotion,direct selling, advertising, publicity, social media, public relation etc. which helps thecompany to increase the productivity level as well as improve the overall performanceof firm. By this Coca-Cola can build and protect its image as well as add value tocustomer. Pricing: Pricing is a crucial element in marketing as it enable business to generatemore revenues. Fair pricing of product increases the demand and supply which createssatisfaction among customers and add value to company's image (Etemad, 2014).However, marketing strategy helps company to implement fair price, modification orinnovation in product, and developing a right approach in order to attain maximisationof profit and revenue. Market Information: Managing demand becomes a critical challenge for marketersespecially in people, processing and possession. Demand can be positive or negativewhich impact the productivity and profit margin of the company. Marketing enable thecompany to have a clear understanding of demand pattern and manage the fluctuatingdemand in order to retain market share and achieve profit maximisation.
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