Role of Marketing

This report explores the role of marketing in business, including definitions, the marketing concept, and the impact of the external environment. It also discusses the structure and operations of a marketing department, marketing processes such as analysis and strategic planning, and the different roles of marketing in B2C and B2B contexts. Additionally, it examines the interrelationships between marketing and other functional units within an organization.

Role of Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
1.1 Definitions and the marketing concept......................................................................................1
(a) Definitions of marketing and the nature of marketing...........................................................1
(b) The development of the marketing concept, including current and future trends.................1
(c) How the external environment influences and impacts upon marketing activity..................2
1.2 The role of marketing.................................................................................................................2
(a) The structure and operations of marketing department.........................................................2
(b) Overview of marketing processes that include analysis, strategic planning and the
marketing mix.............................................................................................................................3
(c) The different roles of marketing within both a B2C and B2B context..................................3
1.3 The interrelationships of functional units..................................................................................4
(a) Marketing as a business function...........................................................................................4
(b) The different roles of business units and the interrelationships between these functional
units and marketing.....................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing can be understood as the activity in business which promotes the brand as well
as help in earning revenues and maximizing the profits. It’s a game played under certain
regulations of environment with the kicks of its essentials. The present report is based upon
Aston Martin Lagonda Global Holdings PLC, popularly known as Aston Martin. It is a well
renowned brand in the global automobile industry engaged in production of luxury sports cars.
The following assignment consists of key roles and responsibilities of marketing along with
interrelation of marketing with other functions. Further, the comparison of marketing mix of two
companies is given in this report. Lastly, the marketing plan is included to launch a new product
in market place.
PART 1
1.1 Definitions and the marketing concept
(a) Definitions of marketing and the nature of marketing
Marketing in any company, whether it is a small or global organisation, has very crucial
roles and responsibilities. In simple words, marketing is acknowledged to be process involving
identification, anticipation and fulfilment of needs and demands of customers at market place.
Marketing is determined to be pervasive in nature as it is applied within the confines of each and
every entity.
(b) The development of the marketing concept, including current and future trends
The marketing concept can be referred to as the belief whereby companies identify, anticipate
and analyses the needs and demands of customers, thereby making rational decision for out
powering the rival firms while meeting such needs. It consists of several elements which are
enlisted beneath:- Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept
 Relationship Marketing
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(c) How the external environment influences and impacts upon marketing activity
The external forces of market such as politics, economy, technologies, society, environment and
laws tend to place a significant impact over the manner in which an organisation carries out its
marketing activity. In this regard, it has been analysed that the constant research into these
environmental factors is essential for a company in order to effectively tap the purchase
behaviour of customers in market place and influence them to consume the organisational
offerings.
1.2 The role of marketing
(a) The structure and operations of marketing department
The structure of marketing department within the confines of an organization varies in
accordance with its size and scale of operations. In this regard, the structure of marketing
department of Aston Martin is presented by way of a chart beneath:-
Figure 1: Structure of marketing department of Aston Martin
Operations of marketing department
The main purpose of marketing is defining the name and brand amidst public. Hereby, the main
focus is upon stating the goal the company is striving to achieve along with the reasons for which
the brand stands in market. By effectively managing the behavioral conduct of brand within the
clients, setting up a structured pattern for all the tasks and maintaining an effective code of
conduct among the staff, Aston Martin seeks to establish a strong image of it in front of others.
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These efforts literally act as the key factor of not only managing the brand but also for the
growth of its brand values.
(b) Overview of marketing processes that include analysis, strategic planning and the marketing
mix
Marketing can be said to be a comprehensive procedure encompassing stages such as analysis,
strategic planning, marketing mix, implementation and control. In the analysis stage, macro and
micro environmental scanning is done in order to identify the opportunities as well as threats.
Strategic planning will be done after taking into account the opportunity and threat through
stipulation of an effective strategy. Further, marketing mix is laid down to put forth the 7
strategies of the company. This strategy is then implemented by the organisation to derive
favourable outcomes. Lastly, the results are monitored to find out the deviations between actual
and desired performance.
(c) The different roles of marketing within both a B2C and B2B context
The role of marketing is crucial for each and every company. However, it is seen that this
role varies in context of B2B and B2C dealings.
Business 2 Customer (B2C) is an arrangement whereby business transactions take place between
customers and an organisation. On the contrary, Business 2 Business (B2B) is a setup wherein
the economic transactions are said to take place among 2 companies. The roles of marketing in
both contexts are presented as underneath:-
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B2B Marketing
Hereby, marketing is done by conducting research in a manner wherein information
about market is collected through the execution of surveys and sample representations of set of
respondent. Thus, the main target of companies herein is to promote its offerings among the
corporate world so as to enter into maximum transactions with business in the economy.
B2C Marketing
Hereby, marketing is done after conducting researching through the aid of customer base.
The research is done from users in accordance with the organisational offerings. The likelihood,
needs, demands and requirements of customers are understood so as to conduct marketing in a
manner that can persuade the customers to buy the product as they feel that consumption will
lead to fulfilment of their demands.
1.3 The interrelationships of functional units
(a) Marketing as a business function
In the field of marketing within any industry, there are several responsibilities and roles
that are linked to this function. In this regard, the marketing department of Aston Martin widely
revolves around the key concept that entailment of customer satisfaction and provision of best in
class services are the primary organizational goals. For this, the entity introduces products
developed with latest trends and technologies. Thus, the roles and responsibilities of marketing
function within the confines of Aston Martin are given below:-
Producing Promotional policy: The needs of the consumer and competitive trends in
market are the primary calls for any business to understand the demand and culture, thus the
marketing manager has to put focus on these factors. A good marketing policy and program
should always involve multiple channel solutions by analyzing and forecasting upcoming
situations with the help of previous records and experiences. Aston Martin deals very efficiently
in each and every scenario by structuring their marketing strategies accordingly.
Finding the Suitable Mix: Whether it’s a distribution channel or a promotional media the
right selection among vast option field of market is a very crucial task, which is ultimately
responsible for the life stages of any product as well as it majorly affect the costing and product
value in market. Products advertising and services is essential to attracting market place as well
as it gives a chance to interact with the potential customers and keeping existing customers
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coming back. Aston Martin from the very beginning stages of its growth started experimentation
in the advertising and promotion segment. The company always tries to simplify the way of their
first response towards customer and strives to maintain the high morale of its staff as well as of
customers.
(b) The different roles of business units and the interrelationships between these functional units
and marketing
In the surrounding environment of any organization, each and every department
contributes proportionately as per their responsibility and job to attain the higher level of
organizational success. Marketing interrelates with other departments of an organization on a
base level to ensure smooth flow of business operations. In this regard, such interface between
marketing and other organizational functions within the premises of Aston Martin are given
underneath:-
Marketing and HR Department: In order to maintain ethical code of conduct among the
people of organization, each department needs a strong team. In this relation, a team can only be
considered strong and effective when it has the maximum talented individuals who work with the
same flow for goal achievement. Recruitment and selection are the functions of HR department.
Thus, whenever marketing department within the confines of Aston Martin is in need of
candidates, it communicates the requirement to HR function. With the required candidates,
marketing takes initiatives to attract potential customers to facilitate an increment in sales
figures. Thus, the relation of marketing and HR departments is powerful enough to support the
attainment of organizational goals and objectives in due course of time.
Marketing and Finance Department: Basic factor to run each and every process of
company is finance. With respect to Aston Martin, for organizing a promotional event, launching
a new car running campaign, the important thing which is considered before actual planning is
the budget. The budget is prepared by finance department. It also provides funds to marketing in
order to produce commercials, fliers, packaging designs, logos and all those stuff which concerns
the company in a monetary way.
CONCLUSION
From the above report, it is clearly concluded that marketing is a key concept which is
necessary to build a great structure of management, establishing marketing policies and
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regulations for the optimum utilization of resources to get the desired outcome. Such elements of
marketing which are described in this report are able to create understanding of each and every
components of the marketing essentials that helps the organisation to achieve success in
marketplace. Furthermore, it is inferred that marketing mix consists of elements such as product,
price, place, promotion, physical evidence, people and process. In addition to this, it has been
analysed that marketing shares effective relationship with other organisational functions to
ensure smooth flow of business operations.
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REFERENCES
Books and Journals
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