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Role and Principles of Marketing Assignment

   

Added on  2020-01-28

12 Pages3546 Words151 Views
FinanceMarketing
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Roles and Principles of MarketingSTUDENT NAME:STUDENT ID:PROFESSOR NAME:
Role and Principles of Marketing Assignment_1

Table of ContentsIntroduction......................................................................................................................................3Assignment 1 (Presentation)............................................................................................................31.1 Explaining main responsibilities and role of marketing (P1)....................................................31.2 Describing how responsibilities and role of marketing relate to context of widerorganisational...................................................................................................................................41.3 Analysing roles and responsibilities relating to marketing environment context (M1)............51.4 Analysing the importance of interrelationship between marketing and other functions of anorganisation (M2)............................................................................................................................61.5 Evaluating the key elements of marketing functions and analysing how they interconnectwith other functions of an organisation...........................................................................................6Assignment 2 (Report).....................................................................................................................7Task 1:.............................................................................................................................................71.1 Comparing the process of marketing mix to the marketing planning process of McDonald’sand other fast food company (P3)....................................................................................................71.3 Evaluating the tactics used by McDonald’s for achieving business objectives (M3)...............8Task 2:.............................................................................................................................................92.1 Evaluating basic marketing plan of McDonald’s (P4)..............................................................92.2 Coherent evidence-based and detailed marketing plan for McDonald’s (M4)........................102.3 Strategic marketing plan for McDonald’s for achieving overall objective of business (D3)..10Conclusion.....................................................................................................................................10Reference List:...............................................................................................................................122
Role and Principles of Marketing Assignment_2

Introduction Marketing refers to one of the functions of business where they promote their products or servicethrough advertisement and market research. Alternatively, marketing is the process, whichenhances the sales of products or services of business by promotions, advertisement,communicating with customers, conducting market research and developing marketing tactics.Marketing make people aware about the new product or service which business is launching andchanges in existing products or service if any. The concept marketing covers media,programmatic advertising, covering advertisement, online platforms, videos and overall reviewof market in which the business is operating. Junior consultant of fast food chain conductedstudy on the marketing strategy, plans and principles of McDonald's to show the importance ofmarketing as wider concept in business and expand their business.Assignment 1 (Presentation)1.1 Explaining main responsibilities and role of marketing (P1)Marketing plays an important role for boosting up the sales of business and for expandingbusiness activities nationally or internationally. Business organisations have to incorporatemarketing activities in their activities to make money and survive in business market (Baker,2014, p.56). The roles and responsibilities of marketing in the context of McDonald's arediscussed below:Distribution: After production of goods or service, distribution of it to the customer is the maintask of business. Marketing helps in distributing of goods and service by promoting it to thecustomers at higher level (Lovelock, 2011, p.36). Marketing interconnect business andcustomers, which help in reaching target customers of business.Financing: Marketing gives clear idea to businessperson about the budget of business beforeentering into market, which assists them in formulating plans and procedures according to therequirements.Satisfaction: The marketing helps to evaluate the needs and requirement of business, whichassist them to produce products or service according to the needs of customers.Creating trust: Based relationship: marketing includes various process of promoting product,which creates a channel of communication between staff of organisation and customers3
Role and Principles of Marketing Assignment_3

(Bellenger et al. 2011, p.25). Therefore, marketing developed relationship between customersand organisations.Developing innovative techniques: marketing includes market research which assist businessorganisation to know the current trends of demands among the consumers and help owners todevelop new innovative methods of productionLogical and systematic planning: marketing organize the operations of business in logical andsystematic way such as creates distribution system, product improvement methods and others.Encourages people to purchase: marketing turns potential customers to actual customers ofbusiness through attractive and innovative advertisement.1.2 Describing how responsibilities and role of marketing relate to context ofwider organisationalMarketing creates wider opportunity for business to expand as it interconnects people withbusiness organisations. The key roles and responsibilities of marketing to create scopes wherebusiness can flourish in wider context according to the McDonald’s business strategy are-●It identifies the needs of customers●Detect the demand of the product in market●Create new opportunities for business by identifying new product area and potentialcustomers ●Helps to produce product or service according to the customer’s need which, fulfil theirdemand●Determines the amount of daily generating cash of business●Identifies competitors of business and assist in framing policy to compete with them●Helps in determining the strategies which are applied by organisation are giving fruitfulresultsMarketing creates platforms where entity can interact with different customer and entities whichassist the organisation in promoting their business activities (Wilson and Gilligan, 2012, p.12).The organisation get respond on various social media that interconnected with people globally,thus creates global platform for business and provides them wider access to expand ininternational market. 4
Role and Principles of Marketing Assignment_4

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