This assignment delves into the essential aspects of marketing, including various marketing functions, their significance, and the marketing mix. It also touches on the marketing planning process and achieving business objectives through a well-defined marketing plan with detailed coherent evidence.
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Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 P1.The role of marketing and how it interrelates with other functional units of an organisation .....................................................................................................................................................1 P2.Explain how roles and responsibilities of marketing relate to the wider organisational context.........................................................................................................................................4 TASK 2............................................................................................................................................5 P3. Compare the ways in which different organisations apply the marketing mix to the marketing planning process to achieve business objectives.......................................................5 TASK 3............................................................................................................................................3 Covered in to PPT.......................................................................................................................3 CONCLUSION................................................................................................................................3 REFERENCES................................................................................................................................4
INTRODUCTION Marketing is a social process by which organisations and individuals analyse the need and wants of customers through creating and exchanging value with others. Marketing essentials is a process of creating, promoting and delivering goods and services to customers and businesses. This assignment is based Zara and it is a Spanish fast fashion retailer. This firm is founded by Amancio Ortega and Rosalia Mera in 1975. It the main brand of the Inditex group which is the world's largest apparel retailer. In this report will be discussed about the roles and responsibilitiesofmarketingfunctions,rolesandresponsibilitiesofmarketingrelatedto organisational context or marketing environment. Further will be explained about significance of interrelationship between marketing and other functional units of the company. The process of market9ing mix will be defined in comparison to different ways in which they use it. A marketing plan will also be described which contains objectives and strategies (Babin and Zikmund, 2015). TASK 1 P1.The role of marketing and how it interrelates with other functional units of an organisation Marketing is an activities of a company which associated with with purchasing and selling goods and services. It includes selling, advertising and deliveringproducts to the consumers. In Zara, marketing is a social and managerial process by which individual groups obtain what they need and want through creating, offering and freely exchanging goods and services of value with others. The nature of marketing may be suited under the below points: Human activity- In Zara, for the business of the company, marketing can be a process or a human activity with the help of it people satisfied their needs by human efforts. It can be a human action which can be taken to provide satisfaction to human. Consumer oriented- A company operate its business to satisfied human needs. In Zara, the production department of the company manufacture products to satisfied the customers needs and wants. Concept of marketing- It is related to the belief that organisations must assess the needs of their customers first and foremost (Baines, Fill and Page, 2013). Marketing concept basically related to the needs, demands and wants of the people and it is divided in to five major concepts, they are as following: 1
Production concept-This concept is most operation oriented than any other because it based on the perception of the consumers which shows that they are inclined for towards the goods andservices. They think that goods are easily available at the market place in good qualities or inexpensive price. For example, in Zara, the production department of the company produce products according to the consumers demand or in relevant quantity (Baker and Magnini, 2016). Product concept- This concept based on the assumptions of the customers that they prefer products of high quality, price and availability. It totally based on the products, its quality, quantity and price. The consumers purchase that kind of products that have value for money. When they are buy or purchase any product they are more conscious about price of the product and quality of it. Selling concept- This concept mainly focus on the sells and marketing of the product. In Zara, the management department of the company use promotional channels to attract more consumers and increase the sell of the products. This concept holds the idea that consumers will not but more of the organisation's products unless it undertakes a large scale selling and promotion effort. Marketing concept- It is a philosophy by which the companies analyse the needs of the customersandthentheymakedecisionstoprovidesatisfactiontotheirdemandsby manufacturing goods and services according to them. In Zara, the management department of the company do market research to identify the customers needs and develop products according their needs. Societal marketing concept- This concept holds that a firm should make marketing decisions not only considering consumer's needs and wants but also focus on the society's long term interest. In Zara, the company monitor the wants and interests of a target market and produces those products which provide satisfaction more effectively to its targeted consumers more than its competitors. Current and future trends The current marketing trend involve the digital media in the marketing.In Zara, the management department of the company use various kind of digital technologies to operate the business national or international level (Bastable, 2016). For example, to promote its products, the company use digital media and various technologies such as social media, Facebook, 2
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Instagram and others. In the recent time, the consumer prefer mobile marketing and they use it to purchase goods and services. For a company, the future trend of marketing can be involving user generated content to attract new customers. The company can use the feedback as a promotional tool to attract more which is written by its loyal consumers. Another trend can be to maintain transparency to create effective relationship with customers. The role of marketing and external environment that affect marketing activity Marketing play an important role to support and promote the products of a company. In Zara, with the help of marketing department company manage its all functions and run its business properly. The structure of marketing is based on the needsof the business (Cooper, 2013). For example, in Zara, the organisation follow hierarchical structure. Because there are all work are divided to a department such as marketing management team, product manager, advertising manger etc. Role of marketing within B2C-Marketing is a general terms used in business and help in the business of a company by providing various marketing tools and techniques. Business to customer marketing refers to the tactics that used by the company to promote its products and services among customers. In B2C marketing play an essential role and help in selling or delivering goods and services to its consumers. Marketing designed various strategies to promote products and provide information to its customers about the goods and services of the firm. Role of marketing within B2B- It is a type of marketing where multiple buyers are involved. In business to business marketing, it play an important role because it owns customer experience, represent the voice of the customers or inform about the needs and wants of the consumers. In Zara, marketing support sales team by leading generation, promotion and tools. External environment influences and impacts upon marketing activity Marketing management is a process of planning and execution of the various concepts of marketing. these concepts of marketing involve pricing, promotion, distribution and sales which The major role of marketing in context of marketing environment are as following: Marketing strategies- Marketing play an important role in the development of marketing strategies and planning for the business organisation. In Zara, the manger of the company analyse the needs and demands of its target customers and provide products according there needs and wants. With the help of marketing strategies, they can identifies consumers needs and 3
bring out a balance between the objectives of the company and opportunities of market (Dibb and Simkin, 2013). Marketing information system-It is tool which provide information about various factors of marketing such as product, planning, controlling and implementation of marketing strategies. For example, in Zara, this tool and technique help in providing information towards logistics on a real time basis. It help in providing information that the distribution network work in proper manner or not. Marketing research- It play an important role in the marketing because with the help of it, the management department of the company determine and identify its target consumers needs and demands. With the help of it, the manager of the firm can also get information about its competitors and substitute products so that it can make attract its loyal customers by providing goods and services accordingly. P2.Explain how roles and responsibilities of marketing relate to the wider organisational context Marketing function can explained as the roles of the business organisation which help in finding outthe needs and demands of the customers. These functions involve marketing research, product plan, promotion, sales etc. the function of marketing also involve various responsibilities such as growth of the firm, increase profit and enhance productivity of the company. Marketing functions is a part of business and they are interrelate with market in different manners. Marketing and HR Department-In Zara, the marketing personnel have to closely and deeply work with HRM to assure the appropriate staffing levels and skills are in place or not. MarketingpersonnelshouldparticipatewithHRdepartmenttodevelopjobdescription, designing training program and incentive systems, screening candidates and many more. They support HR personnel in Research and internal evaluation of personnel, Make an ambitious and competent sales team, meet production targets through recruiting skilled labours etc. There is some disadvantages in between both of them like if marketing department making promotion or advertising drive for recruitment for HR department and at last the HR department take more as describe so, it will be time consuming process for both of them and Hence, increase the cost of the company (Lane, 2016). Marketing and Production-Marketing help production department that which type of raw material and equipments is required to manufacture or produce and also marketed a product. In 4
Zara, it shows the degree of consumer acceptance of these particular product with upgraded version or modified characteristics is an useful input for effective planning of production activities.Ontheotherway,productiondepartmentaimedatevaluation,analysingand identification of new raw materials and sources of supply which is also more and more advanced level of development. More exact or accurate prediction of sales production for each product line and product requires for effective and efficient product operations (Lipsman and et. al., 2012). MarketingwithFinance-Marketingplansalwaysinvolveinfinancialinformationand decisions regarding new and existing product. Marketing identified as a supporting area while taking any investment decision. In Zara, analysing of cost and profit ( for the product, product line, brand) always expressed in percentage of sale or monetary units. Budgets are necessary to implement strategies. Also, many of the marketing decisions viewed as a investment decisions like new product decision etc. promotion of a product, price and distribution, advertising includes all marketing mix. There is disadvantage also that both of these departments interrelated to each other like if marketing department need support on a immediately basis fr any advertising program and finance department neglecting or have a slow respond then whole process of marketing can lead to a failure and as a result, I will be the loss for the company. Marketing with Research & Development-In Zara, marketers help R&D to analyze and identify that which product going to be more marketable. There is a very close link between the research and development and marketing efforts in the organization. There is a close interaction between these both the departments from the new product development stages to idea generation and to final product development stage. Marketers help the researchers in the evaluation and generation of new product ideas by finding insights of the consumer's, asses their needs and problems and implement those insights into the product concepts. Significance of interrelationships between marketing and other function The interrelation between marketingand other functions is important because they are necessary to each other. Because in Zara, when the management department of the company identify consumers needs than all these function of marketing are important. Without help of production department, finance department and others, they can not fulfil the customer demands. The organisation can not increase its profit and productivity without the help of these functions (McDaniel and Gates, 2012). 5
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TASK 2 P3. Compare the ways in which different organisations apply the marketing mix to the marketing planning process to achieve business objectives The marketing mix helps the company to focus on the key factor which help the firm in generating or building good relation with the customer. Marketing mix 7Ps of marketing Product:It is define as physical in nature and it is a tangible process. Zara store provide men's and women's clothing as well as children's clothing (Mihart, 2012). Services are known as the intangible procedure in which it cannot be held and cannot be separated from the provider. Brand is described as a type of product which is manufactured by a particular organization under its particular name and its identifying mark. As Zara define asits unique design, sign , symbol and combination of this. Branding is important for increases business value and generates new customer. It is important forgrowth of the organization and for its new value to its customer. Product lifestyle define as the stages of its product this is important for maintaining awareness. Zara is known as the coca-cola of the fashion. Price :It is the very important concept in marketing , the price of the product is the amount that a customer pays for to enjoy it. Zara provide its product at reasonable price to its customer and its prices are quite affordable. Pricing strategy is about finding a competitive price of a product and services. Use of psychological pricing strategies, In this company focus consumers emotional respond rather than its rational respond. For Attracting more customer and maximise profit organization use different type pricing tactics such as discounting,skimming and penetration. Zara should also apply this type of different tactics and strategies for increases its profit and customer. Discounting ,offering specially reduced prices can be powerful tool. Sell unique product at a high price. Penetration starting at low price and gain maximum market share before its competitor catch up. Place :This define as the making product available for its customer who needs it. Channel management isthe process where organisation develops various strategies to reach the widest possible customer (McDaniel, Lamb and Hair, 2012). Zarastore are nowpresent in 30 countries including India and theexpansion is still going on. Supply 6
chain management is the integrated planning to control and execute a products flow. Logistics is the partof supply chain managementin which it is focusses on moving a product in an effective way so its arrives at the right time at the right place (Mueller and et.al.,2015).Itmanagesactivitiesofdelivery,packaging,distribution,and transportation. Zara sell its product through its online store and this bring new product in shortest time possible. Promotion :It is very important concept of marketing through which organisation create awareness about the product in the mind of customer. Promotion includes advertising, personalselling,coupons,freesamplesandspecialoffers.Advertisingdefineas providing information about the product and its remind about product and reinforce it. Sales promotionprovide offer , incentive ,discount voucher to its customer. Its attract new customer and also increases demand for the old product. This tools of promotion help in increase brand awareness and provide appropriate information. This will help in maximise sales and profit of the organisation.Zara use the tool word of mouth promotionand social media rather than any marketing tool. Zara has itsmore focus on opening new stores . People :This includes people who have their own roles to play in the production, marketing ,distribution of product and services to the customers. People refer employees in marketing. They are the people who clearly know what customer want and what is bestfor customer to get what they want. Employee of Zarashould have creativity of applying new ideas and take risk in the organization.Ability to communicate in an effective and clear way with many mediums and through this understand what customer want . Employee consider as problem solver whomanage possible risk and being with the solution when problem arise. Employee must have full knowledge about product because without knowing product they cannot provide proper information to its customer. Zara employee must have persuasion skills in which you can convince interested customer that the product is right is good for them. Employee of Zara should be more confident because great outcome come from people who have confident in their abilities and talent (Muralidharan and Neha, 2013). It is suggested that people with good attitude ,skill and behaviour delivering best product and services to its customer. 7
Physical evidence:it is the part ofmarketing mix in which customer can actually see and experience when they use services. This is the location where the services deliver to its customer and this also attract the customer towards the product. Zara needs to design thelayoutofserviceinthewayinwhichcustomerattracted(Papasolomouand Melanthiou, 2012).This is define asvisual aspect of services and product provided to the customer. Customer of Zara will purchase a product or services which must have physical evidence and shown by companies receipt. An organization have many other ways of showing their physical evidence which includes, building and layouts. The objective of the marketing mix is to incorporate the right elements which attract the desired customer profile .Physical evidence in the marketing play dynamic role and change in physical evidence will bring change to all other PC's of marketing mix. Process :This is the actual procedure and flow of activities by which the services is delivers. System and process which involved in delivering a services there are different type of process used in this. Before making strategy develop the vision they both are important to marketing success. Zara should have to develop a clear vision , than it will attract the right strategy. It Must focus on customer experience for organisation most matter is how they make customer feel. Become the new media to the company which focus on the problem and desire of customer. Adapt the engagement model in this business must be found online ,easily enraged online andeasily communicate with online. Educate them about product through workshop,seminar, blogs . Develop a selling process is a way to develop trust in mind of customer (Pike, 2015). TASK 3 Covered in to PPT CONCLUSION From the above report, it can be concluded that marketing is an important function to run the business of an organisation. With the help of marketing function the company, analyse or monitor needs and demand of the customers or fulfil them by manufacturing goods and services accordingly. In this report explained about the roles and responsibilities of the marketing function. The roles and responsibilities of marketing are defined in context of marketing environment. The interrelationship of different marketing functions are explained and their 8
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signification is also defined. The marketing mix to the marketing planning process is described to achieve business objectives and a marketing plan is also mentioned in the report with a detailed coherent evidence. 9
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