Unit 02 - Marketing Essentials

Added on - 10 Mar 2021

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UNIT 2MARKETING ESSENTIALSR/508/0486TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3LO 1 Explain the role of marketing and how it interrelates with other functional units of anorganisation......................................................................................................................................3Introduction to Organization...........................................................................................................4Operations Management Principles.................................................................................................4LO 2 Compare ways in which organisations use elements of the marketing mix (7Ps) to achieveoverall business objectives...............................................................................................................6Continuous Improvement................................................................................................................6Kaizen..............................................................................................................................................6Continuous Improvement in an Operational Context......................................................................7LO 3 Develop and evaluate a basic marketing plan........................................................................8Project Life Cycle (PLC) and Project Management........................................................................8Project Life Cycle (PLC) to a Given Context..................................................................................8TABLES...........................................................................................................................................Table 1 Manpower Requirements....................................................................................................9Table 2 Materials and Equipment Requirements..........................................................................10CHARTS.........................................................................................................Chart 1 Gantt Chart Phase 1.................................................................................11Chart 2 Gantt Chart Phase 2.................................................................................11Chart 3 Gantt Chart Phase 3.................................................................................12CONCLUSION..............................................................................................................................14REFERENCES/BIBLIOGRAPHY...............................................................................................15
INTRODUCTIONLO1: EXPLAIN THE ROLE OF MARKETING AND HOW IT INTERRELATES WITHOTHER FUNCTIONAL UNITS OF AN ORGANISATIONMARKETINGMarketing is the defined as a business function which involves activities of exploring, creatingand delivering value to satisfy a target market’s needs for the purpose of making profit off it.Through marketing, the unfulfilled needs and desires of target markets are identified and also theprofit potential; and through marketing, all the products and services of an organisation ispromoted to its target market (Phillip Kotler, 2012). Marketing is an activity which helps widenthe market base of a business, product or service; it also help in managing all customer demandssuch that their needs and wants are met. Through marketing, an organisation can sustaincompetition and also stay ahead of competitors; it also help it to adapt the right price to itsproducts and services. Marketing also aid business sustenance, growth, expansion and also buildreputation for an organisation.MARKETING FUNCTION AND HOW IT INTERRELATES WITH OTHERFUNCTIONAL UNITS OF AN ORGANISATIONMarketing function is one which help in identifying a product or service which is as needed inmarket and therefore promote it to the market such that profit is made on it. Every functional unitof an organisation are related; marketing is not an exception as the marketing unit of anorganisation relates with every other unit or department of the organisation – finance, researchand development, sales, human resources, IT, operations, customer service, administration andsupply chain or distribution. Marketing and sales for instance work together to ensure anorganisation is able to achieve targets that relates to penetrating new markets and also increasingthe organisation’s sales. The marketing unit needs the human resources unit to help in staffhiring, training and support on the continuous improvement on the job for marketing departmentstaffs.
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