Marketing Essentials: Trends, Roles, and Interrelationships

This presentation provides an overview of marketing essentials, including the nature of marketing, emerging trends such as video marketing and digital marketing, roles and responsibilities of the marketing function, and the interrelationships between marketing and other departments. It also discusses the PESTLE analysis of Zara and the significance of interrelationships in marketing. The presentation concludes with an overview of the marketing process and its importance.

UNIT 2 – MARKETING ESSENTIALS

Nature of marketing
It is art of science in which target market is selected and then their needs are identified through delivering
products and communicating. marketing is dependent on how trends and changes in market impact on
communication with customers. its nature is unaffected by human change.
In recent times, there are many new trends that has emerged in marketing. It has significantly changed the
concept of marketing and highly influenced minds of customers. Also, marketing functions are also changed
and many new elements are included in it

Trends of marketing
Video marketing- it is a new concept that has emerged. Here, companies focus on creating a video of
product or service in order to attract customers. Also, it includes 3- D images and graphics that attract
customers. Moreover, people reviews are shown in video. Thus, it enables in attracting people
Digital marketing – this is trend that has shifted and transformed way of marketing. here, use of social
media and other platforms are used in promoting goods. Furthermore, companies are now using internet in
advertising.

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Chatbots- it is a software that allows in doing conversation with people either in audio or text. The robots
talk and behave similar as people. It provides info about new products and advertise it on web page.

Roles and responsibilities
There are several roles and responsibilities of marketing function in an organisation. the entire promotion is
dependent on this function. Moreover, division is interrelated with other units which helps in accomplishing
business objectives. However, its roles are defined below :-
Market research – it is foremost role of marketing function as they conduct market research to gather
useful data and information from the market. In this data collected is related to current trends, needs of
customer, competitors, etc..

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Product designing – This is also significant function of marketing in which they design product on basis of
many factors such as quality, features, packaging, etc. Furthermore, product specifications are developed on
basis of customer needs and market situation.
Promotion – Promotion of products is essential as it helps in reaching target customers. The marketing
function is responsible for deciding that how product is to be promoted. Furthermore, they prepare plan and
strategy that through which platforms promotion is done. For example – advertising, personal selling, etc.
Besides, what will be promotion budget, technique, etc.

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Managing brand The main role of marketing manager is to define and manage brand in effective and
efficient mode. Thus, marketing manager has core responsibilities to provide quality food products to
customers. This will be helpful in terms to enhance the brand image of the enterprise.
Packaging and labelling – here, marketing role is to decide the packaging and labelling of products. The
decision is taken regarding what design is to be used for packaging and how label is to be placed so that
people can recognise it.

Pestle of Zara
Political they are related to change in political condition, tariff and trade, foreign policies, etc. Thus, any
change in it directly affect company operations. Brexit will highly impact on marketing activities of Zara.
they will have to focus on other countries for marketing. thus, it will affect on Zara growth.
Economic It describe the economic growth of nation. It includes GDP, currency rate, income levee,
inflation, etc. As Marks and Spencer generate maximum revenue from UK. So, Brexit will result in change
of marketing activity. Zara will have to incur more on their marketing. thus, this will rise in marketing
expenses.
Social - It consists of change in taste and preference, culture, ethics, etc. With change in customer trends
and preference regarding fashionable clothes, it will be led to positive impact on Zara growth. they will
have change way of marketing products and giving ads.

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Technological the factors are related to advancement in technology. With high presence of online stores and
e commerce it will affect in positive way of marketing of company. they can attract more people by using
social media.
Legal – The factors are related to health and safety, etc. so, any change will affect on Zara marketing
activity. they will have to adhere those laws.
Environmental – Here, factors are related to CSR policies, etc. thus, Zara will have to show in marketing
activity about protecting environment.

Overview of marketing process
Analysis- It is the first stage where company analyse market and identify customer needs. this is done by
analysing the environment and markets where customer needs are not fulfilled. also, opportunities are
identified and searched to gather data and info.
Strategic planning – It is second stage where strategic planning is done for selected target market. the plan
is developed that what objectives are to be achieved.
Marketing mix – In this marketing mix is applied which consists of 4 P’s in order to develop a marketing
mix strategy. this enables in specifying each P of target market to accomplish business objectives.

P2 How roles relate to wide organisation context
In every business, departments are interrelated to one another in different or similar way. This is because it
helps in performing business functions and attaining overall goals. In similar way, marketing department is
also interrelated with other. Without interrelationship, it becomes difficult for firm to perform various
functions. Thus, the relationship is mentioned as:-
Marketing and finance –
The marketing department is interrelated with finance as data and information is shared between
them. so, for any new product development or developing strategy, budget is forecasted. Moreover, finance
department share reports of market share, sales, profits, etc. of different markets.
Marketing and R&D
Similarly, marketing department is inter linked with R&D. here, the R&D do research on basis of
data provided by marketing. moreover, data is analysed and within product changes are done either in
features, design, packaging, etc.

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Marketing and production
It is evaluated that marketing and production are interrelated with one another in organisation.
they both perform business function by sharing data and info. The marketing department share data with
production regarding what new product is to be developed and in how much quantity
Marketing and operation –
They are interrelated with one another as operations are done on basis of marketing functions. The
marketing provide info about what products are to be designed and developed. So, on basis of that changes
are done in operations. Furthermore, market research is conducted with help of operations. Besides that,
change in design, packaging, etc. is also included in operations. Thus, both marketing and operation work
together.

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Marketing and HR
Marketing unit is also closely related to HR department. this is because the HR identify employee
requirement and hire them on right place. likewise, in marketing as well staff is required to perform various
tasks. Thus, HR recruit staff on basis of requirement specified by marketing department
Marketing and sales-
The marketing and sales unit are different from one another. By working with marketing, sales
department is able to get info from them. then, accordingly to it, selling, distribution, etc. of product or
service is done in marketing. furthermore, on basis of market situation sales are done.

Significance of interrelationship
There is an effective relationship between marketing and other functional areas. With help of this data and
info is shared. The production unit is able to produce products as per requirement of market. So, through it,
customers needs are fulfilled.
Moreover, for promoting of goods and doing market research funds are acquired from finance unit. Thus, it
enables in carrying out various activities of marketing and generating awareness to attract customers in the
market. in this way, products are sold and business objectives are attained.

REFERENCES
Adler, R.M., 2020. Competitive Marketing Strategy. In Bending the Law of Unintended Consequences (pp.
153-171). Springer, Cham.
Anderson, D.R., Sweeney, D.J. and Cochran, J.J., 2020. Essentials of modern business statistics with
Microsoft Excel. Cengage Learning.
Asekome, E., 2020. Effectiveness of Marketing Mix Strategies on Customer Satisfaction, Loyalty and
Retention in Banking: Case Study of Zenith Bank Plc, Nigeria. Archives of Business Research, 8(1), pp.51-
64.

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