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P1 : Roles and Responsibilities of Marketing Function

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Added on  2020-12-08

P1 : Roles and Responsibilities of Marketing Function

   Added on 2020-12-08

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MARKETINGESSENTIAL
P1 : Roles and Responsibilities of Marketing Function_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Roles and responsibilities of marketing function...................................................................1P2 Roles and responsibilities of marketing in wider context......................................................3TASK 2............................................................................................................................................5P3 Comparison of two companies by considering marketing mix.............................................5TASK 3............................................................................................................................................7P4 Marketing plan of Aldi'..........................................................................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11.......................................................................................................................................................12
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INTRODUCTIONAll the actions which are performed for increasing revenue like promoting products,advertising etc. in order to ensure high customer satisfaction are known as marketing (Purvis,2016). Every organisation want to increase their profits and marketing activities play crucial rolein assisting managers at the time of forwarding towards company's goals. Aldi is a one of themost successful company of retail sector. They have stores in 20 countries and they are hold astrong position among top five companies in UK retail industry. This assignment will discussabout various marketing function which are essential for in every organisation. Interrelationbetween different departments of the enterprise will also become part of this report. Marketingmix of two companies will be compared for ascertaining their performance. At the end, amarketing plan will be made for Aldi. TASK 1P1 Roles and responsibilities of marketing functionThe significance of marketing is continuously increasing because this a department whichis responsible for bring business in the company and they play an important role attaining setobjectives of the organisation (Marketing Essentials, 2017). The function of this wing ofcompany start from providing all the details about various products which people want to buyand it end when company get assurance that customers are happy with the products and serviceof company. Below are few key roles and accountabilities of marketing function:Pricing – One of the most important responsibility of marketing wing is to set best priceof a product. This division help managers in finding the exact price which people are ready topay for a product or service. Aldi is operating in retail industry and they are selling wide range ofproducts in their store. If they will not set appropriate price i.e. a rate which is best for companyand customer, then they will fail to attract large number of customers. Organisation want to et aprice at which they can earn maximum possible profit and at the same time customer want agoods at a rate which comes under their buying power and they feel that they are getting rightvalue for the money which they are paying for a product. It is the responsibility of marketingfunction to set most appropriate price of all the commodity so both company and buyers remainhappy. 1
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