Role of Marketing in Business

ROLE OF
MARKETING
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Table of Contents
INTRODUCTION: .........................................................................................................................3
MAIN BODY:.................................................................................................................................3
PART 1........................................................................................................................................3
ROLE OF MARKETING IN A BUSINESS: -......................................................................3
MARKETING MIX AND COMMUNICATION MIX: -......................................................4
THE ROLE OF DIGITAL MARKETING: - ........................................................................5
..............................................................................................................................................6
THE ROLE OF SOCIAL MEDIA: -......................................................................................6
WHY DIGITAL MARKETING AND SOCIAL MEDIA MARKETING ARE ALL
IMPORTANT TO CONTEMPORARY BUSINESSES:-.....................................................6
PART 2........................................................................................................................................7
SOCIAL MEDIA MARKETING CAMPAIGNING: -..........................................................7
NIKE- ...................................................................................................................................7
STARBUCKS-.......................................................................................................................9
CONCLUTION:............................................................................................................................10
REFERENCES: ............................................................................................................................11
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INTRODUCTION:
The aim of this report is to analyse different marketing strategies used by
different organisations. Marketing strategies needs to be very innovative and creative in
order to attract the attention of the targeted audience in the market. The market is a
very wide and scattered place where people come and go but the business which uses
innovative and interactive strategies stays in the market (Chaffey, Ellis-Chadwick,.
2020). Every business in the market tries to be better than the rest of the businesses in
the existing market to get more and more customers in order to increase the production
of the company’s products and services. A marketing strategies are made in order to
plan ways to achieve organisational goals by reaching out to the audience and making
them customers of their products and services.
MAIN BODY:
PART 1
ROLE OF MARKETING IN A BUSINESS: -
According to Rowley, 2016, Marketing refers to the business activity of promoting
a variety of goods and services in the marketplace, it includes market research and
analysis (Milović, 2018). The company through marketing provides content to the
audience online or offline that demonstrates the product value, brand name and it
increases sales. It helps to understand the interests of company's targeted customers
and work accordingly. Marketing attains almost all the aspects of a business such as
product development, sales, advertisement, etc. There are various types of marketing
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such as internet marketing, blog marketing, social media marketing and so on.
Advertising is one of the element of marketing which helps the company spread
awareness about the existence of the company's products (Rowley, 2016). It is a
combination of different techniques and methods and not just a single strategy. The
company always needs to have an analytic thought processes and needs to react to the
factors affecting the business processes in a short duration of time.
MARKETING MIX AND COMMUNICATION MIX: -
Marketing mix refers to the activities, tactics, techniques to increase and promote
its product and services of the business organisation. Its element influence each other
they make a business plan and works on it (Grossberg, 2016). There are 4 P' s in
marketing mix: Product, Price, Place and Promotion.
1. PRODUCT: - It refers to the product which is meant to be sold by the company.
The product must be up to the expectation of the customers or else it will not give
the company the turnover it expected. The product should be in such a way that
it attracts and satisfies the needs and wants of the customers. For example coca
cola producing soft drinks, the company tries to fulfil the need of it customers.
2. PRICE: - The price of a product can only be determined by the demand for that
commodity in the market at that particular point of time. There are several types
of pricing strategies like cost plus pricing and discount pricing. It is the
responsibility of the marketer to implement the best pricing strategy for the
company.
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