EY Marketing Strategies: Role, Interrelation, and Marketing Plan

This report elucidates the role of marketing within organizations, using Ernst & Young (EY) as a case study. It details how marketing interrelates with other functional units, providing direction and aligning them towards achieving organizational goals by focusing on market and customer needs. The report explores EY's marketing strategies, including the 7Ps of marketing, and how these strategies contribute to achieving business objectives. Furthermore, it develops an overall marketing plan for EY based on research findings, aimed at improving sales and business performance. The analysis covers key roles and responsibilities of marketing, emphasizing brand maintenance, customer interaction, and strategic growth. It also highlights the importance of internal and external communication, risk analysis, competition analysis, and adaptation to market trends. The report underscores the skills required for effective marketing, such as communication, planning, and IT proficiency, and emphasizes the role of marketing in building relationships with customers and other functional units.

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CONCEPT OF MARKETING AND ITS ROLE

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Table of Contents
Introduction.............................................................................................................3
LO1……………………………………………………………………………………….4
LO2……………………………………………………………………………………….8
LO3.........................................................................................................................9
Conclusion............................................................................................................11
References............................................................................................................12

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Introduction
Ernst & Young, now known as EY, is the chosen organization for applying as the
Marketing Manager. It is one of the most recognizable consulting organization in the
world. It provides professional services across various nations of the world and is one of
the largest in its field of work. It also is the part of the “Big Four” in accounting firms. It is
one of the best companies to work for. This organization basically focus on 4 main
areas of marketing which are a product, price, place, and promotion. It is an
organization that uses a mix of marketing strategies because it works in various areas.
Their pricing of the product or the service, and the distribution and advertising strategies
are designed through the process of time.
In this report, the role and the importance of marketing is discussed deriving
information from the strategies and concepts implemented by EY in the marketing field.
The interrelation of the market with other functional units of EY why are also highlighted,
to understand how marketing gives direction to the units, to achieve the organizational
goal and vision by focusing on the market and the customer needs. The methods in
which the organization uses the mixed marketing of 7p is discussed, highlighting the
point through which the organization is able to achieve the business objective. An
overall marketing plan of the organization is developed based on the information
collected from the research to improve the sales and business for the organization.

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LO1
Explain the role of marketing and how it interrelates with other functional units of
an organization.
The organization provides a wide range of services as their main product to their
clients and it does its market providing assurance to their client and clears disputes with
fraud investigation and provide financial advisory in the accounting field to support the
business purpose along with the customer needs. It contributes a good amount of the
company’s revenue as a tax. It also takes care of the taxes of the other organization
through human capital and global tax. Along with the above, it also provides advisory for
various services and transactions.
With its headquarters in the United Kingdom, it has spread to other nations as
well to successfully reach their target customers. It has one of the most spirited
marketing departments that has made the company maintain its brand and name.
Recently the organization had undergone a brand name change (Faull, 2017). This is
one of the most unstable periods for the organization but it successfully recovered with
new vision and mission implementing newer strategies for newer market and reaching
out to the people. This requires preparing an annual plan which the organization needs
to follow. After the execution of the plan, the report is prepared by the organization, on
which the analysis is done and forecasting is done to find the suitable course of action
and the action plan is updated. This updated action plan is then communicated to the
organization functional unit to make a strategy and make a decision based on the
course of action to prepare a long-term plan that can stand successfully through any
changes in the market. This is followed by the annual plan discussion and the process
repeats. This provides a path to maturity for the organization which is used by (EY Ernst
& Young LLP 2015).
 Key roles and responsibilities of the marketing (P1, P2).
The marketing is the most required and important part of any organization. It is
the marketing that brings the clients and the customer from the crowd that results in
profit for the company. Marketing is responsible for the sales of the product and the
services provided by the organization. The key roles and responsibilities of marketing
are as follows:
They define the brands and maintains its name and standing in the current
market. It has to always push new strategies to maintain the brand of the organization
and the stay in the market. It represents the vision of the organization and carries it
forward to the customer and partners to experience the organizational goals and
benefits. It brings interaction for the customer for the company.
It works with the vision of growth and expansion of the current market to reach
out the newer customers through advertising and campaigns for the initiative for the
new marketing strategies. It maintains the sales of the products and the service through
an increase in communication from the customers through spreading awareness about
the offers and the benefits provided by the organization. EY similar maintains its brand

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name through reaching out to people, spreading awareness and focusing on their
customers (David, David and David, 2017).
 Roles and responsibilities of marketing (M1)
One of the most important roles is to maintain the communication in the
organization and outside the organization. Within the organization, it communicated the
vision, the goals and the strategies that the organization is using or going to use. It also
regulates and controls the internal functions of the organization with respect to the
product, human resource, culture and operational procedures. EY also aim to maintain
a goal of developing a culture in the organization with a focus on the creation of value. It
also communicated with any change or update in the requirement of the product or
service. This is so because marketing is responsible for the communication outside the
organization. It is the face of the organization. Outside the organization, it maintains and
manages the external support like agencies or companies that provide service to the
organization. Along with the support it also brings the word from the market like the
needs and the demand of the market.
The marketing analysis the risk involved when implementing new strategies or
services. It requires to collect the data and analyze for the tweaks that can be made in
the strategy to reduce the risk. Besides, it also needs to do competition analysis to
gather information about the strategies of other organization to innovate their own
unique strategy to win the market and make their business spread and grow. It focuses
on the current market trends and always focuses that the organization stays one step
ahead of the market compared to their competition. The challenges and obstacles are
highlighted by the marketing research. It thus helps the action plan to focus on what
weakness the organization has and how can it overcome with their strengths (van den
Driest and Weed, 2014). For this, a well-designed business or an action plan for the
strategy is developed for successful marketing strategy.
The advertising and promotion of the products and the services are managed by
the marketing. It encourages the customer to avail the service of the organization
through innovative that captures the customer and retains them. With the evolution of
the services or products, it updates its strategies and implements new promotion
methods to highlight the benefits of the new service compared to the prevision and the
competition.
Along with the spreading the awareness the marketing also has the responsibility
to provide an advisory recommendation for the organization according to the data and
information collected by them. They used advanced technologies to process the data
and formulate a strategy using the suitable strategies required to increase the revenue
or growth of the organization. The main target of the marketing is to grow the
companies, improve its sales, and bring success to the organization.
Various financial activities and the calculation are also expected from the
marketing because they make a calculation like the cost of investment, the return on the
investment and the risk cost. With visualization of the financial sector for the
organization, they are able to easily explain the cost to the members of the organization

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and discuss the strategy and the methods to incorporate in the business to achieve a
high return of investment.
Marketing is performed by the management who are responsible for the
recognizing, forestalling and provide adequate customer requirements while maintaining
their profit. Its action is to deliver the organizational goal to the market through their
service and products. It also manages the exchange process of the business with the
customer and studies to improve the process of implementing new offers and strategies.
Marketing influences the market with the price, design, setting, feasibility, and
advertisement of the product and services. It also makes sure that the service or the
products are always available to satisfy the demands of the market.
If the organization maintains a website to represent their service or products the
marketing teams roles is to provide the optimization related to the search engine with
the proper content creation to increase the customer retention and reduce customer
bounce rates. They create engaging content for the customer to relation and realize the
values of the organization’s services.
It monitors and manages the sales of the organization and devises newer ways
of the increasing the sales. It collects data through surveys, events, campaigns, and
social media to find the potential customer that might be interested in their services or in
that particular area. With the collected list they approach the people to make them into a
long-term customer. This process calls for market research and development to know
what the customer or the people want and how can their service help them to get what
they want. It also helps the organization know the standing of the organization in the
mind of the people.
The marketing role in entering the mind of the people and find what they are
looking for, this thought can be only done for a targeted market because everyone
cannot be understood and neither can any organization sell everything to everyone.
They solve the queries of the customers and the people and explain the organizational
goal along with advantages they can avail of their services. These requirements are
shared with other functional units which take care of these queries and make
improvement in their action plan.
For the carrying of the above responsibilities, certain skills are required by the
marketing like good communication skills and able to do networking like network
marketing and maintaining chains. Should possess creative writing skill along with
strong planning and organization skills. In today’s world, IT skills are also required in
marketing. With the ability to adapt and pay attention to the details of the market, the
organization’s marketing department leads to success.
Marketing is also responsible for building a relationship with the customer and
with other functional units within the organization Kiseleva et al (2016). The helps to
understand their employee and provide them satisfactory workplace to provide efficient
execution and productivity of the organization. It also helps to understand the need of
the customers and aided them with their reliable services, also providing customer
support in hand with the sales.

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Marketing is the center of the organization when it comes to the communication
in an organization. Marketing is done by the management and handles the intercom in
the organization. It maintains the vision and the purpose of the work in the organization
by successfully communicating the action plan and the business plan to the other
departments. It requires to monitor and keep track of every other functional unit in and
outside the organization. The suppliers, the advisors, the market environment, customer
and customer support, logistics, and the competition analysis all are regulated and
observe red by marketing management.
 Interrelationships between marketing and other functional units (M2)
Marketing is not only about maintaining the sales or the business of the
organization but has a much bigger scope. All business function functions are
independent but marketing gives them a direction to work in. It provides the strategies to
implement and brings the organizational functions together to focus on the market and
the customers. Without the market and the customer, other functions have no purpose.
To keep the organization in business the marketing is required and should be properly
performed to bag in the profit. Marketing maintains the balance between the different
functional units of the organization in terms of people, financial, strategic and
operational plans which is key success factor followed by EY.
With the support the marketing, the organization is able to manage the business
and the functional requirement so the organization along with the customer and market
demands. It also provides the support to the functional units to take care of any doubts
or the action plan. The performance analysis is also done by the marketing, due to the
backtracking process they use to find the cause of the failure or errors of a plan. Thus it
can also provide a suggestion for improvement in the functional unit to achieve the
desired level of productivity and sales.

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LO2
Compare ways in which organizations use elements of the marketing mix (7Ps) to
achieve overall business objectives
An efficient marketing strategy can help to describe the right goals and direction
of marketing. A well-established strategy provides services and products a way to
satisfy customers. Once customers are defined for target marketing, then one need to
begin marketing tactics by applying and developing it. Marketing is continuously
developing disciplines which one organization can find themselves left after the race if
they position for too long. An example of such evaluation has important changes to the
simple marketing mix (West, Ford and Ibrahim, 2015). There was 4p’s technique was
used to recognize marketing mix and today a more advanced marketing tool has been
developed which is known as 7p’s technique. It has more layers of the marketing mix
with some philosophies. In the past days, marketers acknowledged that marketing mix
must be updated over time. And this has extended 4p’s tool with additional 3 layers
(Patil and Bach, 2017). This does not allow the comprehensive marketing mix to contain
products which are services and not physical things.

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LO3
Develop and evaluate a basic marketing plan.
7p’s tool helps the organization to define and review the key issues which affect
the marketing of its services and products and referred to as 7p’s framework for a digital
marketing mix (Kukanja, Gomezelj Omerzel and Kodrič, 2017). The 4p’s tool was
designed to sell business products, services and to help customers to develop their
brand. But after Booms and Pitner added more layers into the tool. Now, it is suggested
as 7Ps marketing mix while studying competitive strategies (Haludin, Sari, and
Prihartono, 2017). The 7Ps marketing mix is Product, Promotion, Price, Place, People,
Physical Evidence, and Process. By using 7Ps model, objectives can be set with the
help of SWOT and competitive analysis. It is a framework which evaluates a current
business by proper techniques.
Figure 1: The key elements of 7P’s
Product- Product is an element which is produced to fulfill the requirements of a
significant group of people. It can be intangible or tangible because as it is made of
goods or services. The organization should guarantee to have the accurate product
which is in demand in the marketplace. Thus during the phase of product development,
the marketers should do a huge research on product lifecycle which they want to create.
A product has a definite life cycle which includes growth phase, maturity phase, and
sales phase. It is significant for the marketers to reuse their product to encourage more
demand while researching in the sales decline phase. Marketers need to make the
proper product mix so that it can expand the present product mix and maximize the
product line (Luo, Roach, and Jiratchot, 2015).
 What product or services are going to be offered?
 Branding

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 Packaging
 Ongoing development or product.
 Features and benefits the organization is offering
Promotion- This includes techniques like organizational identity, branding,
special offers, advertising, etc. Promotion can be a brilliant way to motivate customers
so that they can choose the correct product. It is also essential as with the help of
promotion customer trust can be built which is vital to make potential customers.
Promoting the right way can determine what consumers think about the brand and
service.
 How to promote and market business now?
 Attract the right people to use and recycle business.
 Create cost-effective strategies like branding and advertising.
Price- A product is only called a valuable product when customers will be
interested to pay for it. Another reason can be that the product requires having
competitive factors. It should be remembered that how much price the customer wishes
to pay for buying some product. To provide customers a better value it is required to
choose the proper price of a product so that customers can buy easily. Pricing is an
element which generates revenue and delivers profit.
 Choose the right price for services or products
 Effective price
 Not too low nor too high price of the product
Place- Place is essential for marketing strategy as for where the product is
distributed it needs to be appropriate for the customers. The product needs to be
available at the accurate place and accurate time. Websites with proper network count
as a place where marketers distribute services or products for sale. After doing a proper
customer survey best places can be found for selling the product.
 A good distribution channel.
 Online virtual stores or physical store.
 Right location and right customers.
People- People is another important aspect of the marketing mix. As they can
create a good impression on customers about products and determine whether the
company is losing or keeping its customers. So it is important to catch the right people
for selling the product. People also covers potential clients and customers. Thus
targeted audiences can be found. A target audience is a definite group of people inside
the target marketplace of a service or product.
 Friendly and knowledgeable staff.
 Processes and training.
 Quality of training and recruitment.
Physical Evidence- Until a service or product is delivered, it cannot be
experienced. It can be a critical step for an organization because customers buy a new
product from the company which they have not tried before. This delivers an evidence

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which an organization keeps their promise so they come from opinions by different
people. Other premises can be the brand who are promoting their product to determine
how the organization is perceiving in the marketplace.
 Physical environment.
 Design and quality.
 Positive environment.
Process- In what way a product is delivered is vital to customer satisfaction.
Problems like information and waiting times given to customers are significant to make
customers happy. Communication is also essential which provide a long-lasting effect
on customer satisfaction. The management system is used for maintaining employees
into a well-organized way for scheduling activities, distribution, and cost-effective.
Customer relationship management system helps to maintain organizational
communications with customers by following such functions: reporting, customer data
management, workflow automation, interaction tracking etc.
 Financial and accounting procedures.
 Information technology procedures and policies.
Thus it can be understood that 7Ps of marketing is the key to success. A service
or product cannot be developed without analyzing the price and a promotional
marketing plan before selling the product. The customer is the main priority in any
marketing strategy before following 7Ps model.
Conclusion
Coming to the conclusion it has been found that role of marketing and
communication includes creation and provide information by communicating with the
marketers. Marketing interactions play an important role in the development of
communications like social media. Organization communicates internal information
among employees and managers. External communication is used for informing the
customers about the products of that organization. With the help of 7Ps marketing
model traction has been improved in the organization. The role of better consumer
service was mainly overlooked as well as the possible influence on product
development and the customer experience was not assumed. This was fixed when
Booms and Bitner planned their allowance to make 7Ps marketing mix. The protracted
model must now be used to make modest strategies in a new complete manner.

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References
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Ernst & Young LLP (2015). Integrated business planning Unlocking business value in
uncertain times. EY publication. Retrieved from:
http://www.ey.com/Publication/vwLUAssets/EY-Integrated-Business-Planning/
$FILE/EY-Integrated_Business_Planning.pdf
Faull, J. (2017). EY on why shareholders come second when it comes to purposeful
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Haludin, D.C., Sari, H. and Prihartono, B., 2017. Online Marketing Mix for Small
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