Essentials of Marketing Research

The provided assignment details focus on the essentials of marketing research, including essential books and journals related to marketing theory, competitive marketing strategies in the hospitality industry, and entrepreneurial marketing in small businesses. The assignment also covers impact analysis, game development essentials, social media marketing, public relations, destination marketing, Bayesian statistics, and startup marketing. A suitable title for this assignment is 'Essentials of Marketing Research'. The meta title is '[SOLVED] Essentials of Marketing Research Assignment', and the meta description is 'This document provides a detailed solution to the essentials of marketing research assignment, covering key concepts and practical applications.'

Marketing
Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key roles and responsibilities of marketing function............................................................1
P2 Roles and responsibilities of marketing relate to organisational context..............................4
TASK 2............................................................................................................................................6
P3 Comparison of ways in different organisation apply marketing mix for planning in
achieving objectives....................................................................................................................6
TASK 3............................................................................................................................................8
P4 Produce and evaluate marketing plan for an enterprise.........................................................8
CONCLUSION..............................................................................................................................11
REFERENCES .............................................................................................................................12

INTRODUCTION
Marketing is appropriate method and technique that will assist in developing better place
and reaching with desired goals and objectives of an organisation in effective manner. This is the
set of major functions and process which can be used by enterprise for main motive is to
developing, designing, creating, distributing, communicating, delivering specific products and
services within large market place. This will help in identifying desired customers for providing
them best quality based products and services for satisfying their expectation. The report is based
on Coca-cola which is located in US and they mainly deal with soft drinks in the international
market place (Baker and Saren, 2016). There are various popular drinks of coca-cola that
includes spirit, Fanta, Diet Coke, etc. This project will describing different roles and
responsibilities of marketing functions and such type of interrelation conduct in an enterprise.
Along with this, this will explaining several ways and compare marketing mix of various
companies and produce effective marketing plan for achieving potential goals and targets.
TASK 1
P1 Key roles and responsibilities of marketing function
Marketing is important tool and method for business organisation that will assist in
identifying demand and need of customers through conducting accurate study so firm developing
and making decision regarding manufacturing of goods and services in better manner. Along
with this, it is the examination of management which need to make relation with their desired
customers and business. Marketing define that process and institution which are associated with
such major functions or activities that includes compliance, creating and satisfying their
customers in proper manner. This can be said that marketing is the leading element of business
concern which assist in formulating company and also create awareness among buyers towards
company goods or services. In a simple words, marketing means buying and selling of a product
or services in the market place (Brassington and Pettitt, 2013). It refers to the activities of
advertising, selling and delivering of a products to their customers. Along with this, it involves
strategies such as identifying what are customers demand and then fulfilling their needs. It is an
essential part of any company strategy. Marketing can be done through using online
advertisements, print medium, T.V or radio. As well as communicating the brand's values and
qualities to the public, it will helps to enhance their standards in the market.
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Importance of Marketing
Marketing is the key process of researching, promoting and selling of goods and services
in a particular market. This helps them to convince and attract more and more customers towards
their products. Since, marketing is an indispensable element of the business. In the below there
are some importance of marketing for a coca-cola described as: Research: It plays a crucial role for the success in the business. By knowing the
consumer requirement and foreseen the nearby area for the taste and needs, what a
customer want from the company (Desai, 2013). For example, coca cola go through the
area before where they want to increase their selling. This also involves the finance
requirement, workforce for a business. However, it is known for the beverage
manufacturer in worldwide. It helps in creating a brand name: Through marketing it is easy to attract their customer
by advertising. It helps to aware the customers about the product and its brand name. For
example, coca cola advertises and publishes its ad through hoarding, templates, etc. Increase productivity: By marketing it is simple for a company is to increase their
productivity by using the marketing mix, which involves price, place, promotion and
product. In case of coca cola, company promotes its products in various countries with
different price. Maintaining the company standard: With the help of marketing, it helps in prolong the
company reputation in the market. For example, in coca cola they preserves the quality of
drink through which they belong to top most wanted companies list.
 Satisfies the needs of consumers: Marketing assist in satisfying the needs of the
customer by improving product quality, introducing new commodity, changing the taste
of existing product, using or introducing new flavours for a customer. For example, coca
cola company is famous for its flavour and taste (Desselle, Zgarrick and Alston, 2011).
Marketing function
The role of a business enterprise is to identify, source best and successful products in the
market place. The ultimate aim of marketing is an exchange of goods and services from
producers to customers for maximizes the satisfaction of a customers need. It is a vital part of
any company. The function of marketing involves buying, selling, grading, packaging and
labelling, financing, risk taking, warehousing, distribution and standardization of products in the
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market places. This also includes the product development, marketing plan, public relations,
customer services etc.
Key marketing functions
The main motive of marketing is to exchange specific products and services from
manufacturer to final user so that this will help in satisfying their all requirements and needs in
proper manner. Along with this, marketing function has different activities that includes find out
customers demand and needs for providing best quality based services and products for
satisfying customers anticipation in better manner (Dibb and Simkin, 2013). There are various
marketing functions such various procedures like merchandising, buying, transporting, scaling,
financing, funding, distributing and risk taking, etc. such are described as under: Marketing analysis – This is one of the most element of effective marketing procedures
where specific situation need to analyse while conducting research or survey. In this,
marketing division conduct survey for examining and analysing whole market condition,
current trends, buyers demand or choice, behaviour, taste and preferences, strong
competition and environment factors which directly impact on business and such affect
on business operations or its functions. Thus, it is required for company is to find out
various factors so they can get better strategies and policies has been developed. Coca-
cola determine such activities and functions which help in expanding their business in
other nations that assist in identify appropriate customers as well as market place. Market segmentation – This is that procedures which help in identifying specific market
by dividing advance customer in sub group as per different segmentation. In this,
investigator try to look towards number of general character that includes interests,
lifestyles and requirements of buyers so that firm can easily produce and deliver
appropriate products and services in proper manner. Coca-cola company selling their
products in all over the world (Hauer, 2011). Along with this, there are several criteria
that help in segmenting specific market place on various basis:
◦ Demographic – An organisation need to undertaken customers features and
characteristics for segmenting whole market place as per buyers behaviours and
attitudes. This involves gender, age, occupation, income level, family size, standard
of living, etc. Mainly coca-cola focus on each young people who like such taste.
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◦ Geographic – In this segmentation, market can be divided according to geographical
location, region through this firm can easily find their target customers. It includes
city, hilly, desert, nation, etc. coca-cola is merchandising its goods or services at
various country so by this they will covered wide geographical location in all other
area of world (Jones, and Rowley, 2011).
◦ Psychographic – There are different organisation who segment whole market place
as per the customers social lifestyles, attributes and social and some more can easily
achieving target goals and objectives after find out appropriate determination.
◦ Behavioural – In this determination, customer attitude and behaviour towards
particular products and services, it involves requirements, needs, customers loyalty
and buying behaviours so firm can target desired customers and try to reach with
them. Pricing – It is another essential activities and functions where marketing manager fix
their product price of each commodities. This is that factor which directly affect on cost
or expenses, authorities policies, competing price products, etc. such type of elements
assist in gaining attention of large number of customers towards company goods and
services. Coca-cola sell its products at affordable rate for potential customers. Distribution – In the marketing function, an enterprise will developing better decision for
carry out effective products or services from one place to another. This is necessary for
firm is to take corrective actions regarding storage services, transportation, warehousing,
merchandise and order processing so they can deliver them accurate goods at given time
period.
 After sales services – This can define that services are given by organisation after
developing sales in better manner (Malhotra, Birks and Wills, 2013). Along with this, it is
necessary for making strong and good relation with their customers and also they need to
develop loyalty among buyers for getting long term advantages.
P2 Roles and responsibilities of marketing relate to organisational context
In current time period, there are large number of enterprise who mainly deal in global
market so they will concentrate on carry out their business activities and functions. They
smoothly run the business by undertaken various department which presented. Along with this,
there are various roles and responsibilities that will perform by marketing division for achieving
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their desired goals and targets in better way. There are various department of organisation which
help in achieving required goals and objectives in proper manner. Such are as follows: Human resource department – It is one of the most important business function where
HR manager take responsibility for manage all employees regarding their performance
and create positive environment in an organisation (Lamb, Hair and McDaniel, 2011). In
an organisation, HR manager preform different roles and responsibilities such as
selection or recruitment, performance appraisal, encourage their employees so they can
easily accomplish their preplanned targets and goals. HR manager of coca-cola company
require to perform various functions and activities so by this employees skills or abilities
increasing that will help in improving current performance and also encourage them for
achieving set goals in effective manner. Financial department – It is one of the essential organisation function which manage and
maintain effective budget in better manner. The financial manager develop appropriate
decision regarding making effective strategies or make budgets for smoothly running of
business operations or its functions. Coca-cola try to manage and maintain all financial
statements which includes marketing, human resource, etc. for achieving desired goals
and targets. Marketing department – This is that division which play an important role in making
appropriate position among all market rivals by developing appropriate policies and
strategies in well organised manner. They are mainly focus on whole market situations
and current situations by effective examination. They need to conduct research by
collecting or gathering data regarding customers taste, preferences, environmental
factors, behaviours which main impacts on business operations. Also it is required for
company is to make proper strategies for surviving in complex condition (Mihart, 2012).
This includes various promotional channels which assist in developing awareness as
coca-cola. They are using famous person and celebrities promotion for attracting large
number of customers. Production department – This is that division which directly reticulate with marketing
department which assist in gathering or collecting data and information regarding goods
or services that will help in enhancing income and revenue in better manner. The
company manager provides relevant data and information regarding products or services
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and also make effective decisions for manufacturing innovative commodities (Novak,
2011). Coca-cola manufacturing best quality based products and beverages according to
buyers demand.
 Customer service department – An organisation are responsible for maintaining and
managing strong relation with their desired customers so they will be stay loyal for long
period of time. Coca-cola undertaken in such factors and try to manage all buyers issues
and problems regarding specific products while making decision to satisfy them. Along
with this, they have separate division of customer care services where department listen
customer complaint and try to develop alternative solution in better way.
TASK 2
P3 Comparison of ways in different organisation apply marketing mix for planning in achieving
objectives
Marketing mix is the best element of marketing function which assist in developing
appropriate policies and strategies for taking corrective actions so that will help in getting targets
and goals in better way. Along with this, there are different roles and responsibilities which play
an important role in enhancing company income and profitability in large market place.
Marketing mix consist 7Ps of marketing such as product, price, place, promotion, process,
people, physical evidence. Such are useful for developing whole work in easy manner and
smoothly run the business which main motive is to surviving in the competitive environment.
Most of the enterprise undertaken with such factors for competing with tough challengers
(Ormrod, 2014). Thus, it is required for coca-cola is to bring out different methods and
techniques of marketing mix so this will doing better results can examining the comparison
between coca-cola and Pepsi as how they applied marketing methods and techniques for
reaching with desired goals and targets such are described as follows:
Basis of
difference
Coca Cola Pepsi
Product Coca-cola mainly deal with around
3500 goods in the large market place
such as soft drinks, coffee, etc.
It is large brand of product which
serve or offer different types of
goods and services to their customers
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such as soft drinks, chips, snacks,
etc.
Price Coca-cola company using pricing
strategies and policies that is based
on segmentation, geographical and
competitors that are provided
effective goods and services to their
customers (Papasolomou and
Melanthiou, 2012).
They are mainly concentrate on
providing innovative products and
services a affordable rate so they will
adopting market penetrations and
competitors based strategies.
Place Coca-cola firm selling their
innovative goods at various nations
around 250. so they are mainly
concentrate on strong distribution
channel for achieving customers.
This can be covered wide scale of
area and provide new goods at
restaurants, retail shops and other
small stores.
Promotions They are mainly focus on developing
awareness among buyers by
undertaking effective promotional
methods and techniques that includes
advertisement, celebrities
endorsement, CSR.
They are using different methods of
promotions such as advertisement,
ads and famous person celebrities,
etc.
People An organisation concentrate on staff
members because they are the major
key persons who are connected with
customers in market place (Perreault,
2010).
They require to analyse employees
performance and provide training for
increasing skills and abilities so they
can treat their customers in proper
manner.
Process They are using simple process such
as labelling, packaging and bottling
which can be identified in proper
manner.
They are adopting such process
strategies that is transparent so this
will help in maintaining trust among
people.
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Physical Evidence Coca cola has logo and trademark
which resemblance of such company.
The company symbol and logo are
distinguish the goods from another
firm products.
TASK 3
P4 Produce and evaluate marketing plan for an enterprise
For getting organisation success, this is necessary for them is to developing and making
appropriate marketing plan for the firm which assist in describing the draft for achieving with
specific location properly. In addition to this, an organisation determine marketing blueprint
which define various guidelines for acquiring desired goals and targets in better manner. It
involves summary of organisation by discussing vision, mission, SWOT and PESTLE that help
in developing appropriate decision which formulate strategies to reaching with desired goals and
targets in proper manner. Along with this, it will providing effective framework that assist in
developing accurate decision for achieving potential goals and objectives by adopting essential
methods and techniques in effective manner. This can define the marketing plan of Coca-cola for
promoting various types of goods and services in the large market area. Coca-cola marketing
manager considered a blueprint of specific marketing plan that includes SWOT and PESTLE
which main motive is to reaching with desired targets and goals. Along with this, there are
different factors which are based on environmental components so this will directly affect on
various ways of business concern. Thus, planning need to good and effective so Coca-cola can
stay in the competitive place. Marketing plan has been described as follows:
Overview of Coca-cola organisation:
Coca-cola is the multinational company that are mainly deals with different types of
goods and beverages such as non alcoholic and soft drinks in the international market place.
Along with this, there are various number of customers who are attracting towards firm products
and services and they also prefer coca-cola rather than other drinkable items for satisfying their
requirements and needs in proper manner. It has been established by John Stith in the year of
1892. This firm is listed in top most popular organisation because its goodwill or reputation in
the large market place. Also it has generating income and revenue approx. 1.2 billion euro
according to the past and current data.
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Mission of an organisation:
In this, the mission statement of Coca-cola is to providing better quality based goods and
also promoting towards good health so people can enjoy their life in effective way. They are
mainly concentrate on developing valuable customers and enhancing image of brand among
tough competitors for reaching with long term goals and objectives.
Vision of coca-cola:
The vision statement coca-cola is mainly focus on different type of components that
includes portfolio, partners, people, profitability, productivity so they can easily make
appropriate vision effectively. Along with this, it will assist in getting accurate guidance
according to such type of planning through this workers can achieving desired target and goals in
given time period.
SWOT Analysis:
This analysis stands for strength, weaknesses, opportunities and threats which main
motive is to conducting and making appropriate judgements which assist in analysing internal
and external components that will affect on profitableness and productiveness of an organisation.
Such analysis are described as under:
Strengths:
 Coca-cola has good and effective brand image among competitors also they have high
valued of brand equity at the global market place.
 They are mainly concentrate on developing appropriate policies and strategies which help
in adopting various methods or tools through this they can easily beat their competitors
like Pepsi Cola. The coca-cola is situated in different number of nations where they sell their products and
services that is largest strength of an organisation.
Weaknesses:
 The weak factor of this company is their product diversification that is limited to compare
with Pepsi so it is very complex for beat challengers. This can lose the product image due to facing different critical situation because it has
registered in controversies which reduces the company goodwill.
Opportunities:
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 The main opportunities for coca-cola is to expand their business operations and its
functions at various locations and also bring out manufacturing procedures for
developing organisation. An enterprise can compete with challengers by increasing their product line in different
region.
Threats:
 It will determine as various environmental elements which directly affect on company
due to variation according to such alteration or modifications. In the large market place, there are large number of rivals such as Starbucks, Cafe coffee
day and Pepsi Cola who mainly deal in beverage sector through this customers will easily
attracted towards their products or services.
STP for Coca-cola: Segmentation – It is that factor which divide whole market on various criteria basis such
as geographic, demographic and behavioural so they can identifying desired customers in
effective manner. This is based on customer age, gender, family, standard of living and
country. Targetting – Coca-cola company can target such customers whose age group is between
12 to 30 year so people choose to take cola flavour in beverage or drinks. Positioning – The have positioned at maturity level by capturing whole market area and
also attracting large number of buyers towards firm goods and services effectively.
Marketing Budget:
This is required to develop budget and making suitable plan for marketing help in selling
products and services. They require to determines various functions and activities such as sales,
direct marketing, advertisement, marketing methods so they can achieving desired goals and
targets in effective manner.
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 50000 10000 20000 25000 30000
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Investment 30000 15000 15000 15000
Total 50000 40000 35000 40000 45000
Marketing
expenditures
Advertisement 9000 7000 6000 8000 7000
Sales promotion 7000 2000 5000 8000 9000
Direct marketing 7000 6000 5000 8000 4000
Total 23000 15000 16000 24000 20000
Available balance 27000 25000 19000 16000 25000
Evaluating stage – In this, the mini market investigation and survey for reviewing the
accurate process and identifying current condition in better manner. Coca-cola company has
been undertaken for developing proper decision and also solve any type of define issues or
problems.
Control – This is the last stage where company manager evaluating and controlling
whole major activities for taking corrective actions through this firm can easily achieving
specific targets and goals for an organisation.
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CONCLUSION
From the above mentioned report, it can be concluded that Marketing is appropriate
method and technique that will assist in developing better place and reaching with desired goals
and objectives of an organisation in effective manner. Marketing is the key process of
researching, promoting and selling of goods and services in a particular market. This helps them
to convince and attract more and more customers towards their products. It consist with effective
study of marketing which assist in recognising the latest trends, demand, taste and preferences,
customers choice, making strong relationship with their buyers, different methods and tools and
managing goodwill or reputation that are required for enhancing income and profitability of
business concern.
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REFERENCES
Books and Journals
Baker, M. J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Brassington, F. and Pettitt, S., 2013. Essential of marketing.
Desai, S. S., 2013. An analysis of the competitive marketing strategies of the hospitality industry
in UAE. IUP Journal of Management Research. 12(1). p.22.
Desselle, S., Zgarrick, D. and Alston, G., 2016. Pharmacy Management: Essentials for all
practice settings. McGraw Hill Professional.
Dibb, S. and Simkin, L., 2013. Marketing essentials. Cengage Learning.
Hauer, C., 2011. Marketing in the digital age. Editors' Bulletin. 7(3). pp.77-79.
Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual
exploration. International Small Business Journal. 29(1). pp.25-36.
Lamb, C. W., Hair, J. F. and McDaniel, C., 2011. Essentials of marketing. Cengage Learning.
Malhotra, N. K., Birks, D. F. and Wills, P., 2013. Essentials of marketing research. Pearson.
Mihart, C., 2012. Impact of integrated marketing communication on consumer behaviour: effects
on consumer decision–making process. International Journal of Marketing Studies.
4(2). p.121.
Novak, J., 2011. Game development essentials: an introduction. Cengage Learning.
Ormrod, J. E., 2014. Essentials of educational psychology: Big ideas to guide effective teaching.
Pearson Higher Ed.
Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
friend. Journal of Promotion Management. 18(3). pp.319-328.
Perreault, W. D., 2010. Essentials of marketing: A marketing strategy planning approach.
Pike, S., 2015. Destination Marketing: Essentials. Routledge.
Rossi, P. E., Allenby, G.M. and McCulloch, R., 2012. Bayesian statistics and marketing. John
Wiley & Sons.
Silver, L. and et. al., 2012. The essentials of marketing research. Routledge.
Swenson, M. J., Rhoads, G.K. and Whitlark, D. B., 2014. Startup marketing: Leveraging
leverage. The Journal of Applied Business and Economics. 16(6). p.56.
Online
How to Create a Marketing Plan. 2017. Available through:
<https://www.entrepreneur.com/article/43018>.
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