Roles of Marketing in Rolls Royce

This document discusses the roles and responsibilities of marketing in Rolls Royce, including the formation of marketing plans, advancement of brand image, and market research. It also explores the interrelationships of marketing with other departments and compares the marketing mix of Rolls Royce with a rival firm. Additionally, it presents a marketing plan for the introduction of a new product.

MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
P1. Roles of marketing function.............................................................................................3
P2. Roles of marketing in broader organisational context.....................................................4
P3. Distinguishing marketing mix of Rolls Royce with that of rival firm.............................5
P4. Marketing Plan.................................................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14
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INTRODUCTION
Marketing can be comprehensively said to be an action which centers the cash, endeavors
and activities pertinent to a company for publicizing about the brand as well as its offerings
amidst the public at large (Baines and et. al., 2017). The sole purpose behind carrying out
marketing is to convince the potential leads for making a purchase. Marketing assumes an
important job in acceleration of the sales deals through creation of awareness amidst the public.
This renders aid to the entity to develop loyal clients through fulfillment of commitment made by
the brand at the time of promotions and advertising. The current project is done to gain
information on marketing together with related activities inside the bounds of Rolls Royce, a
global car manufacturing company headquartered at UK. The project throws light upon
responsibilities and role of marketing. Also, it includes comparative marketing mix. Next, it
consists of functional interrelationships pertinent to an organization. Lastly, marketing plan
aimed at introduction of a new product at market place is covered in the report.
P1. Roles of marketing function
Marketing is one of the most crucial functions pertinent to an organisation. It helps the
entity to promote the offerings in market place so as to build a positive image within the
mindsets of customers. Thus, the roles and responsibilities of marketing in the light of Rolls
Royce are explained as follows:-
Formation of marketing plans: The supreme role of marketing is creation of marketing plans in
long and short run. Such plans are aimed at building a strong image of the brand within the
people. With this, Rolls Royce seeks to launch new products in market or create awareness about
the existing ones (Christopher, 2016). As a result of this, the financial performance of the
automotive company gets a boost. This further guarantees the long term sustainability of the
brand in global market place.
Advancement of brand image: One more significant role of marketing is advancing the brand
picture amidst the clientele. Marketing helps a brand to communicate its overall ideology behind
the creation of a particular product or service. It seeks to develop understanding of the unique
features of the organisational offerings so that customers can be persuaded to make a purchase.
This develops a sense of belongingness within the clientele towards Rolls Royce and influences
them to stay connected with the company for a long time frame (Ghosh, Frias and Lusch, 2019).
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Market Research: Clients are treated as the preeminent stakeholder for an organization.
Marketing provides assistance to a brand in gaining an insight into the market and analysing the
current and emergent trends. As a result of this, the entity is able to develop new products or alter
the existing ones in accordance with the demands in market place (Dash and Sharma, 2019).
Thus, this helps Rolls Royce to fill the market gap and build a strong image of the brand within
the public at large.
P2. Roles of marketing in broader organisational context
Marketing plays an essential role in the growth and success of the company in an
appropriate manner. It can be said that marketing department is highly related to each and every
department who have their separate roles and responsibilities but still with the support of one
another these departments can easily accomplish their respective goals. In order to execute their
roles and responsibilities every department is required to maintain healthy relationship with one
another so that they can easily attain excel in their respective departments. Coordination and
cooperation plays essential role in facilitating effective command among these departments
which ultimately maximises their goal achieving targets within limited period of time. With
reference Rolls Royce, marketing department of this company is highly related to one another
which ultimately help them out in attaining goals and objectives of their company within the
predetermined time frame. Interrelationships of marketing department with others departments
have been specified as below in detailed manner:
Marketing with HR: Here, the main role of the Human resource department is to bring
skilled workforce within the company so that business activities of the entity can be executed
effectively without any issue (Morgan and et. al., 2019). It has been seen that marketing
department of Rolls Royce simply communicate their desired skills and tactics to the HR
department according to which they further recruit the candidates for the marketing department.
With this, marketing department of the company can easily execute their sales targets and
maximise their profitability effectively.
Marketing with R&D: The main role of research and development department is to
gather information from the market so that knowledge regarding latest trend as well as lifestyle
can be gathered from the market place. This simply helps R & D department in developing
required skills and knowledge regarding the same and bring modifications in their existing
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offering so that they can easily meet up needs and requirements of the customers. Here, the main
role of the marketing department is to promote all the products and services to the customers
with which they can easily grab attention of the customers and also help R & D department in
knowing about the reactions of the customers’ in better manner which further contributes in
bringing modifications accordingly.
Marketing with Finance: Finance department is directly related to the all departments as
it is providing adequate amount of funds to each department so that they can execute their
responsibilities effectively. Here, it can be said that the marketing department of the company is
directly related to finance department as it requires huge funds for the incorporating its several
activities such as campaigns, product testing, sales promotion, publicity etc. Thus, for getting the
required amount for the same marketing head of Rolls Royce puts application to finance
department which further gets approved after verifications (Chernev, 2020). This clearly depicts
the interrelationship of the marketing department with the finance department. As a result, with
Effective Corporation of these departments both of them can easily accomplish their proposed
goals and objective in quicker manner.
Marketing with Production: The main role of production department is to manufacture
number of units as per the demand of the market. Here, production department must focus on
manufacturing products (vehicles) according to the core requirement of the marketplace. In this,
the main role of the marketing department is to determine core requirement of the customers as
well as their purchasing pattern which ultimately provides brief guidelines to the respective
production department according to which they executes their work in an effective manner (De
Mooij, 2019). All this shows adequate level of interrelationship between both the departments in
the appropriate manner which maximises their business functioning as well as profitability
effectively.
P3. Distinguishing marketing mix of Rolls Royce with that of rival firm
Marketing mix comprehensively said to be as the combination of the 7 elements which are
required to be taken into consideration by the marketing department while developing strategies
towards the same. In addition to this, the respective tool is also supportive in persuading
customers to make purchase from the same entity in an effective manner (Kotabe and Helsen,
2020). These factors are price, product, place, promotion, people, process and physical evidence.
In context of the Rolls Royce, it has been analysed that the respective manager of this company
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focuses on analysing its marketing mix as well as its competitors so that they can easily develop
their core understanding on it and develop rightful strategies towards the same. Marketing mix of
both the entities are specified as below in effective manner:
Marketing Mix Rolls Royce Audi
Product Rolls Royce places huge of range of
products in automobile sector that
includes unique feature and provides
higher level of satisfaction to the
customers. Product range of Rolls
Royce includes Rolls Royce
Phantom, Rolls Royce Ghost, Rolls
Royce Wraith, Rolls Royce Dawn,
etc. Whereas the same entity also
deals in manufacturing of other
products in defence, power systems,
civil aerospace and nuclear. All of
them are highly innovative that
ultimately contributes in attracting
maximum number of customers
towards them.
Product ranges offered by Audi are
Q5, Q7, A4 etc. It has been seen
that the respective company offers
luxurious products to the customers
that are highly technology oriented
and also provides huge level of
satisfactory experiences to the
customers (Shah, 2018). Also, Audi
belongs to the one of the best
company among sports car
worldwide.
Price Rolls Royce makes use of premium
pricing strategy as its products are of
extremely higher quality. Also, the
main reason behind choosing this
strategy is to target only rich and
higher class customers who believe in
buying cars for maintaining their
status within the society.
On contrary, if it is emphasized on
using premium pricing strategy with
the motive of grabbing attention of
high profile people. These targeted
people provide higher profitability
to the Company which maximises
their sales performance as well as
profitability in rightful manner.
Place Products of Rolls Royce are offered
at global level. It has been seen that
On the other hand, if it is talked
about the Audi, the respective
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the respective company executes its
operational activities in almost 50
nations that is being managed by its
top management team in effective
manner. It mainly generates higher
revenues from Asia Pacific region,
Middle east and Britain as sales
performance of this entity is higher in
these areas.
company have almost 11 production
units in 9 nations whereas all
products of Audi are sold
worldwide.
Promotion Rolls Royce is effectively making use
of huge range of marketing activities
with the motive of attracting
maximum number of customers
towards them in an appropriate
manner. With the motive of creating
high value among the customers
Rolls Royce believes in making use
of specific tag lines that specifically
shows high value of product offered
by the entity and attracts maximum
number of the customers towards
their products. In addition to this,
they also makes use of personalised
marketing activities for the selected
range of vehicles in the form of the
promoting it at 5 star hotels and other
high profile gatherings as well as auto
expos (Nosalska and Mazurek, 2019).
However, the main focus of
marketing lead of Audi is to
promote its luxurious products
among customers by simply
acquiring promotional activities
such as billboards, TV commercials,
magazines etc. In addition to this,
popular celebrities are also used as
the brand ambassadors who
promote their products among the
targeted customers in rightful
manner.
People Rolls Royce mainly treats its Audi considers both the employes
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employees as the core people. Here,
the company believes in hiring skilled
workforce who will be able to
perform the work in expected manner
that would maximise their sales
performance in appropriate form.
as well as customers as its core
people. Here, the company
emphasises on taking several
initiatives for satisfying both of
them ion rightful manner. For
satisfying employees training must
be provided to them whereas for
enhancing satisfaction level of
customers’ higher quality of
products and services are offered to
them (Lindgreen, Di Benedetto and
Kock, 2020).
Process Rolls Royce simply makes use of
transparent process in their working
pattern so that they can easily convey
actual roles and responsibilities to
employees and ask them to execute it
in the timely manner.
Here, Audi makes use of technology
advancement in the process with the
motive of providing higher quality
to the customers.
Physical evidence Physical evidence of Rolls Royce can
be seen in the form of user friendly
online website as well as similar kind
of decent retail stores across the
worldwide (Hollensen, 2019)
.
Here, Audi mainly makes use of
similar design and distinctive colour
combination within the interior that
attracts customers towards them.
The above specified information over the same would help company in developing
effective action plan towards the same that would contribute in attaining their respective goals
and objectives in quicker manner. This would also contribute in bringing modifications in their
existing strategies that further leads to place contribution in maximising customers in effective
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manner. In addition to this, the company could also learn many things from its competitors with
which the respective company could also enhance its performance in effective manner.
P4. Marketing Plan
Marketing plan alludes to characterized and organized documentation of the considerable
number of plans, methods along with the systems which can be embraced by association for
execution of development and extension strategies. Marketing plan is regarded to be a
comprehensive part of the marketing plan (Gupta and Rajan, 2020). Marketing plan is used by an
organisation to build awareness of the existing or the upcoming offerings. Rolls Royce is
considered as an extravagant brand which is engaged in manufacturing and distribution of
vehicles worldwide.
Looking upon the current stake and brand name, the management of Rolls Royce has taken the
decision to come up with a brand new car in market place. The name of the car would be "Rolls
Royce Platonic". This will be a fully automated car without the need of a driver. It will have the
capacity to run at a speed of a racing car in empty streets and function steadily on busy
commercial or residential roads. Further, the designing of the car has been done in a manner such
that it would emit least possible carbon emissions, so that the environmental harm can be
reduced to a large extent. Thus, it will not be wrong to state that Rolls Royce Platonic will be the
exhibition of hi tech systems and processes which are integrated to develop the car. This product
is being launched in market to give an overall boost to the financial performance of the brand
across the global periphery (Candelo, 2019).
For presenting the new vehicle inside the market, the marketing administrator of Rolls Royce
intends to come up with a marketing plan. This will help in building awareness about Rolls
Royce Platonic and appeal to public in a manner such that they are persuaded to make a purchase
of the same. Thus, the marketing plan for the new car of Rolls Royce is beneath:-
Situational Analysis:
It is concerned with the critical analysis of business environment in order to identify the positives
and negatives linked to the company (Blythe and Martin, 2019). This helps in setting out a
strategy with the help of which the brand can leverage the positives to counter the negatives in an
effectual way. Launching Rolls Royce Platonic needs the brand to carry out a situational analysis
so as to acknowledge the feasibility of the new product. In this relation, the top management of
Rolls Royce is making use of SWOT analysis as follows:-
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STRENGTH WEAKNESSES
 Rolls-Royce with its various range of
long range electric models developed
dominant market position that will
further benefit in their car segment of
automated Platonic to grab good market
positioning.
 Rolls Royce automated vehicle will
gain strong support from their most
effective battery pack which benefits
Platonic to gain
 Company have strong market image
with wide range of market share that
helps them to gain well-built market
positioning.
 Rolls Royce require significant amount
of cash in order to effectively
accomplish their process that starts
from manufacturing to final testing in
best effective manner with high long
term liquidity risk.
 It is essential for company to stay ahead
of their competitors mainly Tesla in the
field of battery as they are traditional
electric car maker with their own
battery production gig.
 As Rolls Royce is a luxury brand thus,
in the process of manufacturing there is
a requirement of high maintenance cost.
OPPORTUNITIES THREATS
 In recent upcoming years, price range
of oil and gas expecting to increase at
high rate which further initiate growth
opportunity for Rolls Royce to create
strong market presence.
 In today’s world, population in all over
the world are more concerned towards
environmental issues thus, it help Rolls
Royce to increase their product overall
sales margin.
 Rolls Royce has large international
market potential which further initiates
growth opportunities for Platonic.
 There is an increase in price of labour
force and raw material that may create
threat for the effective and continuous
production of Platonic.
 Risk of supply chain along with
government policies compatibilities on
import and export control may lead
towards creating threat for company.
 Currency fluctuations are also one of
the most prominent factors that act as
threat for Rolls Royce.
Objectives:
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The objectives laid down by the management of Rolls Royce in relation to launch of Rolls Royce
Platonic, are beneath:-
“To accelerate the sales of the brand by 17% in upcoming 6 months by the launch of new
car”
“To raise the profitability of the corporation by 12% by the end of 1 year through digital
marketing”
“To inflate the global market of the brand by 5% in the next 6 months by carrying out
rigorous marketing”
STP:
This is a strategic management model that is applied by the organisations to identify its target
audience and thereby devise the strategies in accordance with it (Do Quang, 2017). In this
relation, this model is applied in context of Rolls Royce Platonic as follows:-
Segmentation The segmentation for the new product is done in accordance with
demographic segmentation. In this relation, the aspect that is selected for
dividing the market is social status.
Targeting Rolls Royce will be mainly targeting the upper class section of society for
Platonic as the price of the car will be too high to be afforded by the
middle or lower class economic sections (MacInnis and et. al., 2020).
Positioning Social media and marketing campaigns will be leveraged by Rolls Royce
for creating awareness about the new product within the selected target
market. This will assist the organisation in enhancing the sales prospects
for the new product, thereby giving an overall boost to the financial
performance of the brand (Kotler,2019)
Action Plan/Budget:
Finance is regarded to be the most important element for a marketing plan to successfully get
formulated. In this relation, it has been acknowledged that the main aim of an organisation while
carrying out a marketing plan is to ensure that the expenses incurred do not exceed the budget set
by the brand for the same (Gilligan and Lowe, 2018). Thus, the management of Rolls Royce has
stipulated a budget for its new car Platonic and this is presented as follows:-
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Monitoring:
This along with controlling are regarded to be the most important elements of the marketing
plan. Monitoring is concerned with tracking the progress of the marketing plan at regular
intervals in order to identify whether the activities are being executed in accordance with the
organisational requirements (Gomes, Sousa and Vendrell-Herrero, 2020). The management of
Rolls Royce will track the progress of marketing plan developed for Platonic at frequent intervals
of time to ascertain the extent to which it is yielding fruitful outcomes for the respective brand.
Control:
This stage being the last phase of marketing plan is concerned with ascertainment of the extent to
which the brand is successful in deriving the objectives set at the beginning of the marketing plan
(Brennan, Canning and McDowell, 2020). Hereby, the management of Rolls Royce will
ascertain the deviation between actual and targeted outcomes. If the deviation falls within the
acceptable limit, no action will be taken. However, in case the deviations are more than
acceptable limit, then corrective actions will be executed by the automaker in order to ensure
effective launch of the new product in market. This stage is aimed at making sure that the new
product is productive for the company and gives a boost to its overall financial performance.
CONCLUSION
On the basis of above specified report, it has been acknowledged that marketing is an effective
concept that helps company in popularising their products and services among the customers.
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This simply helps company in maximising sales performance of the same entity in the limited
period of time. Social media is acknowledged as the most important marketing method that helps
businesses in approaching maximum number of customers. Along with this, it has been later
analysed that marketing managers of every entity have to perform several responsibilities in
order to meet their sales target. Also, usage marketing mix helps business entities in
acknowledging core strengths as well as shortcomings of the business. Lastly, it has been
analysed that marketing plan plays huge role in the growth of the company as they are easily able
to execute their work responsibilities in effectively which brought huge success to them in an
effective manner.
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