Marketing Essentials Report: Marketing Strategies for Bulb Energy

This report provides an in-depth analysis of marketing essentials, focusing on the energy supply company Bulb Energy Ltd. It begins with an introduction to marketing concepts, including the marketing concept, production concept, product concept, selling concept, and social marketing concept. The report then delves into the roles and responsibilities of a marketing department, such as market research, product development, advertising and promotion, customer relationship management, and branding. The report further examines the marketing environment, including political, economic, social-cultural, technological, legal, and environmental factors through a PESTLE analysis. The interrelationship between the marketing department and other departments, such as operations/production, finance, and sales, is also explored, highlighting the importance of coordination to achieve organizational goals. The report concludes by summarizing the key findings and emphasizing the significance of marketing in achieving business objectives.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1................................................................................................................................................3
P2................................................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing indicates to all the action that are understood in a company to promote buying
and selling of its products and services. It is the study of management to exchange relationships
with customers while satisfying their needs (What is Marketing? 2019). Marketing includes
promotion, selling and delivering goods to customers or other businesses. Marketing is an
essential tool to gain competitive advantage in the industry by effectively engaging customers
with the goods or services offered by it. In this report, Bulb Energy Ltd. which is a energy supply
company having main commercial operations in UK is taken to understand the key
responsibilities of marketing department in context of external environment. Further,
interrelation of marketing department with different departments operating in organisation is also
given in this report.
TASK 1
P1
“Marketing refer to activities, set of intuitions and processes that are used for creating,
communicating, delivering and exchanging offerings that have value for customers, clients,
partners and society at large.”
 Marketing concept is the concept that an organisation implement to fulfil consumer’s
requirements, enhance profits and gain a competitive advantage in the market.
 Production concept which states that consumers usually prefer goods which are
available at affordable prices. Under this concept, quality remain the main focus of
management. Various efforts are done to improve quality of products.
 Product concept which states that consumers prefer products that are come up with
innovative features and remain high in quality and performance. Different strategies are
employ by company to improve the features of products.
 Selling concept which states that consumers will only buy products if company
aggressively promotes or sells their products. Under this concept, main focus of
management remains on increasing sales of organisation rather than build and maintain
good relation with customers.

 Marketing Concept focuses on achieving organisational goals by requirements of target
customers and satisfying them better than other competitors. Management is more
focused on creating value for customers in order to increase sales and profits.
 Social marketing concept focuses on building marketing scheme that satisfy the
customer value with maintaining and improving both the consumer's and community's
well-being. A sustainable marketing strategy is adopted which is also socially and
environmentally responsible.
Process of marketing-
 Situational analysis- In this process Bulb Energy finds the situation relating to the
company profitably and chances of satisfying the customer needs. For this it is essential
to understand the company capability in which its deals.
 Marketing strategy- After analysing the situation of the market and customer Bulb
Energy make the plan relating to the product development, pricing of product, advertising
and its distribution.
 Implementation and control- At last, manager of Bulb Energy implement the plan what
they make in the above step and control all the activities of marketing mix to longer
survival of the company.
Roles and responsibilities of marketing department helps in accomplishing the
marketing aim of an organisation. Marketing department identifies the target markets in which a
company should focus its marketing strategy to offer it's products and services to the customers
based on their needs and wants (De Mooij, 2018). Roles and responsibilities Bulb Energy Ltd
are:
 Market Research is important to identify the market in which the company can offer its
products or services and also identifies the strengths and weaknesses of the enterprise and
it's rival firms. For example in Bulb Energy Ltd this role is important to achieve a
competitive benefit in the market. It also help manager to identify the opportunity and
threats of the company and rival firms.
 Product Development refers to create offerings that customers desires or want and
modify the currently existing products to make better value for the customers. It helps in
introducing new products in the market and determining their prices based on research

and introducing the product. In context of Bulb Energy, managers develops product
according to the consumer need so that they increase its sales of the company.
 Advertising and Promotional campaigning helps in promoting the products or services
in state to create awareness and convert prospects into customers. Marketing department
is provided with a monetary fund to design the promotional activities. For example, Bulb
Energy Ltd can promote its products and services by using innovative technique to attract
wide customers within an estimated budget plan, so this will help company to increase its
proficiency(Dyllick and Muff, 2016).
 Applying customer-centric approach to maintain relationship with customer so that
demand of the customers can be analysed and customer satisfaction can be achieved. In
context of Bulb Energy, marketing manager maintain their relation to their target
customers to increase the demand of the product and services they offered.
 Keeping up with competition by researching the competition, why the consumers
choose other company products, what the rivalry target and their relationship with
customers etc. are the questions that needs to be researched to keep up with the
competition. In context of Bulb Energy, manager examine what their customer sale to its
customers according to that they innovative and design the goods to stay in the market for
longer time.
 Branding- The another role and responsibility of marketing function is to assign a brand
name to the product offerings that will help the people in differentiating the goods of
Bulb Energy to its rival company. It also creates awareness about the products so that
users will understand what they buy or not and develops loyalty of potential buyers.
 Marketing planning- This function is responsible for creating and designing the
strategies of market for survival of the organisation. It also modify plan to get benefits
from rivalry markets. In context of Bulb Energy, marketing manager design marketing
plan according to the competitors and provide accurate information about goods to the
targeted clients.
Roles and responsibilities of marketing department in the context of marketing
environment
Marketing is important to know the needs and wants of the customer and cater to their
needs while creating value and building customer relationships. In regards of marketing

environment the duty and accountability of marketing towards company is it helps in building
customer relations, ensures survival and growth of the business, widens market share and helps
the company in facing competition. It also helps in branding the products of organisation and
customer interaction through feedback collection (Feng, Morgan and Rego, 2015). Towards
customers is, it helps in providing information about new and innovative products that are
available in the market, offers and discounts on various products, it helps in comparing various
brands of products and chose what most suits their needs. It also helps in reducing prices by
increasing competition in the market. Towards competitors is, it helps in knowing the new and
innovative products that are being introduced by competitors and formulating strategies to stay
competitive in the market. Towards suppliers is, it helps the suppliers in evaluating the type of
products they need to make available to the businesses and determine prices at which they can
supply goods. Towards public is, it helps in bringing such product offerings in the market that
uplifts the living standards of the people with comparing prices of different products. It also
provides employment opportunities in marketing department (Homburg, Jozić and Kuehnl,
2017).
Pestle analysis
Political- this factor plays an essential role in examining the impact on Bulb Energy long
term revenues in a different country. It operates the number of gas and electricity in various
countries and it expose itself in different political environment and system risk.
Economic- In this factor Bulb Energy use country economic factor such as growth rate,
inflation etc. if the economy of the country is strong is also benefited the company sales and
growth.
Social- cultural- This factor is mainly focus on the society welfare. In context of Bulb
Energy they produce and design the product according the environment welfare and serve it to
the customers.
Technology- It is an important factor in today's environment where people are very
adaptive to that. In context of Bulb Energy , manager use innovative technique in design the
product so that they attract number of customers.
Legal – This factor notify the legal rights to protect the interest of employees and
products from the rival firms. Manager of Bulb Energy apply the employment law so every
employees work with productivity.

Environmental- In context of Bulb Energy, they use product which are environment
friendly and not harm the customers. This will help in increase the company sales and
sustainability.
P2
Marketing department needs to work with and assist other functions of the company so
that all the departments can coordinate and integrate to achieve organisational goals.
 Interrelationship of Marketing and Operation/ Production Department : The
department of marketing needs to work closely with production department so that the
unit can be produced as per the quality and design features laid down by customers and
the bulk of orders generated by marketing can be met within the scheduled period
necessary for transportation. Market research also helps in identifying the needs and
wants of the customers so that production of such products can be done and customer
satisfaction can be achieved with increase in sales and profits (JAIN, 2017). In context of
Bulb Energy, marketing manager cooperate with production manager so that they
manufactures the products according to the market demand and customers needs and
wants. This help in increasing the sales and reducing the wastage of resources.
 Interrelationship of Marketing and Finance department : Finance functions assist in
managing fund required for research, promotion and distribution of products for the
marketing department whereas adequate finances are generated through sales by
marketing departments. The focus of finance department is to manage currency rate,
cover costs and pay back investments as rapidly as possible whereas marketing
department focuses on increasing market share and sales volume. In context of Bulb
Energy, marketing and finance manager interrelate to each other. finance department
provide the funds for promoting their product offerings to the marketing department and
they attractively promote their offering to influence more and more customers.
 Interrelationship of Marketing and Sales Department : functions of marketing assists
in bringing customers and building relationship with them by the way of advertising,
promotions, campaigning etc. whereas sales department helps in making final
transactions with the customers and increasing revenue by the way of increase in sales.
The focus of marketing department is to attract users to products and services offered by

the business whereas the focus of sales department is to convert such prospects into
customers (Järvinen and Taiminen, 2016). In this marketing manager of Bulb Energy
work with the sales team to increasing the revenue for the company.
Significance of interrelationships between marketing and other functional units
In terms of designing a business plan, it is essential to coordinate the marketing
component with other departments of the organisation. Marketing function must be
interconnected with financial, manufacture, acquisition and sales department of the company so
as to achieve organisational objectives. Marketing function along with responding to the
customers and competitors also help in generating value for the consumers which is possible by
the contribution of each department working in harmony. Interrelationship between all the
departments of the organisation helps in appropriate decision-making so that the time and cost of
mistakes can be saved. It also assists in apply the capabilities of the organisation in the most
effective way because all the departments work together and regulate each other’s activities. In
context of Bulb Energy, all the functions are very essential to enhance and expand the business
unit. This interrelationship also helps in proper decision making, effective communication
between the staff members and this enhance the productivity and healthy working environment.
In helps the marketing manager to analyse the customers and this all will done with the support
of other department manager.
CONCLUSION
From the above acknowledged data, it is summarised that marketing is known as one of
the most significant function of every organisation. This provide opportunity to organisation to
communicate with its target customers and make them aware about features of their product and
services. For developing a successful marketing plan, all the functions of the organisations have
to work as a team and help each individual so that the required item can be produced in the right
quantity and quality within the stipulated time and budget.

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