Marketing Essentials: BP's Roles, Mix & Strategic Marketing Plan

This report provides an evaluation of BP's marketing functions, including internal and external factors influencing managerial decisions. It examines the interrelationship between marketing and other functional units, detailing how marketing coordinates with finance, operations, and human resources to achieve objectives. The report compares BP and Eland Oil and Gas's application of the marketing mix and analyzes BP's tactics for achieving overall objectives. A business plan is developed, incorporating SWOT and PESTLE analysis to assess BP's market position, providing a comprehensive overview of BP's marketing strategies and their impact on the organization.

Marketing Essentials
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Table of Contents
Introduction......................................................................................................................................3
LO1..................................................................................................................................................4
P1 Explain the key roles and responsibilities of the marketing function....................................6
P2 Explain how roles and responsibilities of marketing relate to the wider organisational
context..........................................................................................................................................7
M1 Analyse the roles and responsibilities of marketing in the context of the marketing
environment.................................................................................................................................8
M2 Analyse the significance of interrelationships between marketing and other functional
units of the organisation.............................................................................................................10
D1 Critically analyse and evaluate the key elements of the marketing function and how they
interrelate with other functional units of an organisation..........................................................12
LO2................................................................................................................................................16
P3 Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives......................................................16
M3 Evaluate different tactics applied by organisations to demonstrate how business objectives
have been achieved....................................................................................................................20
LO3................................................................................................................................................22
P4 Using your chosen organisation, produce and evaluate a basic marketing plan to meet
marketing goals and objectives..................................................................................................22
M4 Produce a detailed, coherent evidence-based marketing plan for your chosen organisation
...................................................................................................................................................28
D2 Design a strategic marketing plan that tactically applies the use of the 7Ps to achieve
overall marketing objectives......................................................................................................29
Conclusion.....................................................................................................................................31
References......................................................................................................................................32
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Introduction
In this study, the role of marketing function of BP has been evaluated along with the internal and
external factors that influence the managerial decision-making process. The interrelationship
between marketing and other functional units has also been evaluated and the ways in which the
important elements of marketing functions coordinate with other functions in designing and
developing new strategies have also been discussed. There is also a comparison related to the
ways in which BP and Eland Oil and Gas apply the marketing mix concept in order to achieve
the business objectives and different tactics used by BP to achieve the overall objectives. In the
last part, a business plan has been developed along with analysing the market position by using
SWOT and PESTLE analysis.
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LO1
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In this slide, the meaning and importance of marketing function have been discussed. Marketing
involves identifying the opportunities for introducing new products or product range by
conducting research and developing effective promotional strategies. The marketing department
of BP helps the management to develop and implement strategies related to advertising,
distribution channels, promotion and customer service. It enables the management to know the
current trends and uses the latest technology to forecast the sales related to new investments
(Wirtz, et. al., 2014).
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P1 Explain the key roles and responsibilities of the marketing function.
This slide explains the important marketing functions in BP. Marketing helps in a wide range of
activities such as Promotion, product management, distribution, marketing information
management, financing, and pricing. Promotion enables BP to identify the ways in which the
products can be promoted effectively; product management ensures that the demand and supply
chain is maintained. Marketing helps to design the pricing strategies by conducting research and
surveys in order to compete in the market and marketing information system helps to record and
analyse the data to predict the sales and the revenues that can be generated by developing new
products (Gaskill and Winzar, 2014).
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P2 Explain how roles and responsibilities of marketing relate to the wider organisational
context.
This slide provides an insight into the roles and responsibilities of the marketing function in BP.
The marketing function designs and implements the strategies for promotion and sales of the
company products. The activities such as conducting market research and developing new
products help BP to diversify the products according to the needs and aspirants of the customers.
The products are promoted by using various platforms such as seminars and exhibitions, which
enhances the customer base and developing appropriate control measures enables the
management to implement the marketing strategies effectively (Johnson, et. al., 2017).
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M1 Analyse the roles and responsibilities of marketing in the context of the marketing
environment.
This slide contains the details related to the internal and external environment of BP. Internal
environment factors are those which have a relatively minor impact on the managerial decision
making process and these factors can be controlled by the management. These factors are
employees, equipment, materials, product market, and funds.
The external environment factors have a major impact on the business and these factors cannot
be controlled by the management such as political, social, technological and environmental
factors (Adeoye and Elegunde, 2012).
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The roles and responsibilities of the marketing function in BP can are, to ascertain the present
and future market conditions by conducting regular research and taking feedback from the
customers. The changing needs of the customers have to be ascertained to sustain in the market
along with identifying the new opportunities for investments (Johnson, et. al., 2017). Analysis of
the competitors’ market share enables to understand the strategies used by them to promote their
products and threats have to be identified so that a comprehensive strategy can be developed to
overcome these issues.
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M2 Analyse the significance of interrelationships between marketing and other functional
units of the organisation
In this slide, the interrelationship between marketing and other functional units in BP has been
discussed. Marketing is one of the most important functions which enables the management to
design and develop the ways in which products can be promoted. Marketing coordinates with
other departments such as Finance, Operations and Human resource in order to achieve the
desired objectives. The finance function helps the management by providing necessary funds
required investing in new ventures and it also generates various reports which enable the
management to ascertain the viability of the various projects. Operations team provide
infrastructure and other requirements of the marketing function. Human Resource selects the
candidates as per the requirement raised by the marketing team to achieve the sales targets. All
these functions coordinate and help the management to achieve the overall goals and objectives
(Kim, et. al., 2012).
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The significance of interrelationships can be analysed as it enables smooth flow of operations in
BP and also the communication with the organisation is also enhanced. This helps to improve the
quality of the production as well as it helps to design and implement policies related to
manpower planning and optimum utilisation of available resources. A strong interrelationship
enables BP to innovate and develop new methods for providing services and also, the new
opportunities for investments can be identified (Kim, et. al., 2012).
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D1 Critically analyse and evaluate the key elements of the marketing function and how
they interrelate with other functional units of an organisation.
This slide evaluates the key elements of the marketing function and the strengths of these
elements have been discussed. The key elements are promotion, product management,
distribution, selling, marketing information system, financing, pricing and promotion (Gaskill
and Winzar, 2014).
The strengths of these key elements are, it enables the management to implement the
promotional strategies effectively. The products can be developed as per the customers’
requirements and expectations. The pricing strategy ensures BP sustains in the competitive
market scenarios along with identifying the investments that can be made in new or unexplored
segments.
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