Marketing Essentials: Roles and Responsibilities of Marketing Function

UNIT 2
MARKETING ESSENTIALS
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Executive Summary
Marketing mix plays a pivotal role in the shaping of the strategies to meet the targets set by
the company. It consists of 7 factors essentially the 7Ps, people, price, promotion, place,
physical evidence, process and products. Coca Cola is one of the leading and successful
companies in the world, engaging in the sale of refreshing beverages and other soft drinks.
The current policies of the company have been highlighted in the report. In addition to this,
the marketing mix of different companies has been compared. The different tactics
incorporated by the companies and especially Coca Cola have also been mentioned.
Moreover, the strategic analysis of the company with respect to marketing mix has been
carried out to comprehend the factors and formulate a proper strategy.
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Table of Contents
Introduction...................................................................................................................3
Activity 1 ......................................................................................................................3
P1: Roles and responsibilities of marketing function................................................3
P2: Analysis of roles and responsibilities of marketing functioning .........................4
M1: Analyse the roles and responsibilities of marketing in the context of the
marketing environment..............................................................................................4
M2: Analyse the significance of Inter-relationships between marketing and other
functional units of an organisation............................................................................6
D1: Critically analyse and evaluate the key elements of the marketing function and
how they interrelate with other functional units of an organisation ..........................7
Activity 2.....................................................................................................................10
P3. Comparison of marketing mix to the marketing planning by different
organizations...........................................................................................................10
M3. Evaluate the different tactics applied by the organization to demonstrate how
business objectives can be achieved......................................................................13
P4. Marketing plan production and evaluation........................................................14
M4. Produce a detailed, coherent evidence-based marketing plan for organization
.................................................................................................................................15
D2. Design a strategic marketing plan that tactically applies the use of 7Ps to
achieve overall marketing objectives......................................................................16
Conclusion..................................................................................................................19
Reference List ...........................................................................................................20
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INTRODUCTION
Marketing plan is essential for an organization to frame the activities that are required in the
accomplishment of the business goals. Coca-Cola, carbonated soft drink produced by the
Coca-Cola Company started its journey in the year 1886. A refreshing beverage it plays a
huge role in the human culture and entertainment sector, providing an opportunity for huge
marketing scope. In this report, the comparison of the marketing mix to the marketing
planning has been discussed for different organization. The different tactics have been
applied to demonstrate the objectives. Moreover, production and evaluation and a detailed
marketing plan for the organizations have been highlighted. In addition to this, the
applications of the 7Ps to achieve the marketing targets have been highlighted.
MAIN BODY
Activity 1
P1: Roles and responsibilities of marketing function
The term Marketing has been defined as one of the most essential business process
with the help of which every business organisation can interact with its targeted audience. It
has helped Coca - Cola’s in establishing strong as well as effective relationship with its
customer group across the globe by delivering quality products as well as services. With the
help of effective marketing strategies, Coca – Cola has been able to capture large market
share. Following are the roles as well as responsibilities of marketing – department:
1. One of the most important function of a marketing department is related to gathering
and analysing of market information related to development of new product.
2. It helps in understanding the needs of its customers i.e. what they want to buy and at
what time period, what quantity is demanded, price level that is expected by them to
be charged for such products and services etc. by the company (Andoh and et.al.,
2018).
3. With the help of effective marketing functions, it assists in identifying products which
are having potential of earning large profits from the market thereby promoting and
advertising of such products and services in the target market in an efficient manner.
4. By conducting market research, survey, formulation of effective product plans,
development of the product, its promotional activities and sales function Coca – Cola
has been able to capture large market share across the globe. A marketing function
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consist of number of roles and responsibilities which are essential for the growth as
well as development of a business.
P2: Analysis of roles and responsibilities of marketing functioning
In many business organisation the function of marketing department is related to
development of sound as well as effective marketing strategies with the aim of promoting
new product and services of the company. By gaining deep insight about current market
trends and preferences with the help of proper market research, it provides a base for Coca –
Cola for performing in much better manner. With the help of effective roles and
responsibilities of the marketing department it assists Coca – Cola in following manner:
1. Marketing ensures timely and proper transfer, exchange as well as movement of
goods and services from one market place to its end users.
2. Marketing managers helps in identifying target markets along with its customer which
the company can access at reasonable cost. Also, it helps the company in making
proper segment of the markets so as to group all together its potential customers who
are having similar needs.
3. One of the most important function is related with promotional activities. It is the key
marketing function which can help Coca - Cola in increasing its sales margin
(Boukai, Figueiredo and Crivelli, 2019). A company can attract large number of
customers for its products and services. This will have positive impact on the brand
image of the company and will builds goodwill.
4. By formulating sound promotional as well as advertisement plans and strategies, it
can inform its targeted market audience and public about specific products and new
range of products, services which it is coming up with in the near future.
M1: Analyse the roles and responsibilities of marketing in the context of the marketing
environment
The main role of the marketing department of a company is to create a brand image of the
company, among its target consumers. A company cannot achieve the targets they set,
without the creation of a proper brand image of the company. This is highly dependent on the
marketing function of a company. As influenced by the ideas of Chang, Wang and Arnett,
(2018), it can be stated that the main aim of a marketing function of a company is to generate
an overall interest among the target customers, regarding the products of the company. In
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order to achieve this aim, the marketing function has to conduct a specific market research.
Market research includes the gathering of information about the various trends in the market
that the company is targeting. This also involves the analysis of the competitors in the market
and the position that the company itself is standing at, in the market. As stated by Gölgeci,
Karakas and Tatoglu, (2019), an effective market strategy will contain all the ingredients that
are responsible for making the products of the company a big success among the customers.
This involves all the process, from development of the product to the sales of the product and
managing the revenue generated from the customers.
The knowledge of the needs, wants and demands of the target customers, is highly useful in
developing a good marketing strategy. Therefore, it is the responsibility of the marketing
function to gather information about the needs, wants and demands of the target customers.
The products need to be launched in a specific area, keeping in mind the needs, wants and
demands of the customers of the area. The marketing function of a company can employ two
methods, in order to achieve its targets. The gathering of information through internal
channels and the gathering of information through channels outside the company are the two
processes involved. Internal channels include the information gathered from the other
departments of the company, like the sales department and the customer support department.
The social media is being increasingly used as a medium for collecting information. The
social media sites provide a rich source of information regarding the needs of the customers.
Therefore, they can be highly valuable external source of information.
The monitoring of the trends in the competition in the market is another very essential
responsibility of marketing function. The competition in the market can be highly detrimental
in determining the position of a company in the market. The companies need to draft
essential strategies, in order to achieve an edge over its competitors in the market. Thus,
proper analysis of the competitors of a company is highly essential for the company and the
sale of its products. The creation and maintenance of the brand image of a company is an
integral part of the marketing function of a company. This is highly essential, as the company
will be known by the image that is being created by the marketing function of the company.
There is an increasing necessity to develop a brand image or brand value that has no other
alternative in the market. As opined by Hewett and Lemon, (2019), the company can draw in
large amount of profits, due to the brand name of the company.
Innovation in the marketing strategies of the company can help in both retaining many
existing customers and gaining new customers as well. In the opinions of Jain and Yadav,
(2017), innovation in the field of promotion of the products and techniques to retain
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