Marketing Essential

MARKETING ESSENTIAL

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Introduction to college and different business department in college.........................................3
Key roles and responsibilities of marketing function..................................................................4
Inter-relationship of marketing department with other business functional areas.......................5
Critical analysis of marketing inter-relationship with other functional units..............................6
TASK 2............................................................................................................................................7
Shift from 4P’s to 7P’s and the significance of extended marketing mix ................................10
Overview of marketing planning process..................................................................................10
TASK 3..........................................................................................................................................11
Detailed marketing plan with all stages.....................................................................................15
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................19

INTRODUCTION
Marketing can be defined as that activity which can be used by organization to promote their
goods and services. To promote the product, the companies are engaged in making use of various
marketing channels such as social media marketing, celebrity endorsement, advertising through
Television, print media and many more other channels. Marketing can support various
organizations in increasing sales of products and services. This aspect of promotion can help
them in increasing the profitability of their organization. It can also help them in growing.
Marketing also perform various functions like research, they are involved in researching about
the needs and demands of individuals. Marketing can also support in making consumers aware
about products and services that are being supplied by organization.
Marketing can also analyze pricing strategy that is being used by competitors. This can also
help them in gaining competitive advantage. Marketing function can assist in promoting the
goods and services. This can enhance the sale of goods and services. Present report will lay
emphasis on Grantham college. It has been situated in London. Also it has been analyzed that
from past few years the number of students are being declining. Report will lay emphasis on the
role and responsibility of marketing function. It will also lay emphasis on inter-relationship with
different functional units. Assignment will also lay focus on the comparison on the basis of
marketing mix on two different college and universities. Report will also show the marketing
plan of two different universities which are running their business.
TASK 1
Introduction to college and different business department in college
Grantham College is located in London, United Kingdom. It is a small college which is
being situated in London. The university is being involve in providing various courses related to
business administration. University is being involved in providing both undergraduate and post
graduate courses. College offers various courses related to art, design and media. They also
provide other courses like engineering, courses related to sports, agriculture and many more so
that they can enhance career of students.
There are various departments in Grantham college that are been involved in working
together for common objective of increasing popularity of college and university. Departments
like finance, human resource, academic work together so that they can engaged in providing
quality services to their students. This department will help Grantham college in reaching out

large number of students. These departments also work towards flourishing career of students, so
that they can reach out large number of students and also popularity of college will be increased.
Key roles and responsibilities of marketing function
There are various roles and responsibility that will be performed by marketing so that
services provided by Grantham College become popular in students. Functions of marketing will
also help college in overcoming situation of decline in students which they are facing. Functions
include the following:
Research- Grantham college in order to overcome the issue of decline in students, must
engage in doing market research about the trends which are followed by other colleges so that
student become aware about the services that is being provided by Grantham college. This can
also assist them in increasing the brand value of college and more students will be involved in
taking services from college (Baker and Saren, 2016).
This is the basic function of marketing which helps the organization to establish their
position in market. The main role of marketing in this function is to conduct the extensive
research about the different market trends, strength and weakness of the competitors, needs and
wants of the consumers. On contrary to this, the major responsibility of marketing in this
function is to know the various constrains of market that can help the institute or college to
respond to different changes. Thus, marketing research is the most important function of
marketing which helps the Grantham college to know the various forces.
Finance: Marketing department also have connection with Finance. In this marketing can
help Grantham college in increasing the sale of their services. So this will increase the
profitability aspects of college and they will make budgets on basis of it.
Pricing
This is the another function of marketing which plays a vital role in making the college
aware of the preferences of consumers based on which they set prices of various products and
services. The main role of marketing in this function is to gather the information of marketing
research and then analyze what price to set for which product. Thus, marketing plays the role of
price fixer. On the other hand, the primary responsibility of marketing in pricing function is to
distribute the various resources as per the requirement of product. Besides this, it is also
responsible for assessing the prices which the competitors are setting for their products and
services. Based on this, college set the prices of their products. For example, once Grantham

college has conducted market research and came to know the admission prices set by other
colleges, it will design.
Financing their operations
One of the most important marketing function is to finance the college, Grantham college
will require large amount of funds to operate the college. They need to arrange these funds by
obtaining loans from banks and other financial institution. The colleges generally obtain their
finance through trustees. They need these funds to pay the salaries of the professors and other
staff of the colleges, funds for different activities (West, Ford and Ibrahim, 2015).
Understanding the economy
Grantham college need to understand what can impact there working and can change in
their way of working. They also need to understand what their competition are providing and
then devise some strategies to compete with them. This role of marketing will help in
understanding what the college need to do in order to attract more students like they can tie up
with companies so which can come up for the college placement.
Role of marketing within B2B and B2C
Marketing in B2B can help Grantham college in creating consumer awareness. It also helps
in representing the voice of customers that are basically students. Like for example by marketing
college can involve in knowing about the needs of students. Like there might occur chances that
students prefer more technological study rather than traditional study, so this change can be
analysed by college through B2B marketing. By applying these modifications Grantham college
can involve in reducing number of students which are leaving the college.
Marketing in B2C basically means that Grantham college is involved in making use of
various tactics and strategies that can help them in enhancing sale of their services. In they can
make use of new channels like Social media website so that can reach out large number of
students. In this they can make students aware about large number of courses which is being
provided to them and that can help them in reaching out their career objectives.
Inter-relationship of marketing department with other business functional areas
Marketing department is one of the most important department in college and universities.
This department is also linked with other functional units where the department is involved in
performing various roles and responsibilities. This includes following:

Marketing inter-relationship with human resource: Marketing and human resource
function co-relates with each other for motivating and enhancing consumer behaviour. Grantham
college can engage in doing advanced marketing, in which they can make people aware about
vacant positions of teachers and professors in their university. Human resource department then
can involve in hiring skilled and efficient teachers, who can provide best education, learning and
coaching to students who are studying and wants to study in Grantham college. This can also
support university in overcoming the issue of decline in number of students which they are
facing.
Marketing inter-relationship with Research and development: In this marketing department
of Grantham University must be involved in doing deep research about the trends which are
going in and on in market. This will help University in attracting more students towards college.
In this by doing research university has greater chance to attain success and enhance their
productivity and operational aspects. By doing research, Grantham college can involve in
bringing out new ideas and innovative services that can help in making education quality of
students better. After this college can engage in doing marketing of new services brought up by
them (Homburg, Jozić and Kuehnl, 2017).
Advantages and dis-advantages of marketing
 Marketing can help college in making students aware about the services which will be
given by Grantham college to students. If college is choosing specific marketing channels like they are making use of advertising
through Television, then college can reach out large number of students.
Dis-advantages
 Involving in deep marketing can increase the cost, they need to invest more in
marketing department.
 Competition in the marketing space may be another disadvantage. College want their
advert to stand out, but unless they can afford to pay for a full page spread they will
be competing with the other businesses scrambling for attention.
Critical analysis of marketing inter-relationship with other functional units
Marketing when inter-related with human resource can bring out most effective and efficient
talent that can help Grantham college in enhancing the quality of education which they are going
to provide to their students. This will also support them in overcoming issue of student decline