Marketing Essentials: A Comprehensive Analysis of Marketing Principles

This report provides a comprehensive overview of marketing essentials, beginning with a definition of marketing and its role in organizations. It explores various marketing concepts, such as production, product, and selling concepts, and discusses the roles and responsibilities of the marketing function. The report highlights current marketing trends, particularly the shift towards digital platforms, and examines the marketing processes, including strategic marketing analysis, marketing-mix planning, implementation, and control. It also delves into key marketing functions like market research and finance, and analyzes the interrelationship between marketing and other organizational functions, such as HR, finance, and R&D, using Tesco as a case study. The report concludes with a summary of the key findings, emphasizing the importance of marketing in achieving organizational goals.

Marketing Essentials

INTRODUCTION
 Marketing can defined as the activities which is undertaken by the organization for the
purchasing and selling of a products and their services.
 Marketing concludes commercialism, retailing and delivering of goods or products to
other organization or customers.
 Marketing is designed to improve brand awareness in market. While marketing
essential refers various frameworks, theories, web presence, joint ventures, brand
ambassador, customer relationship and social media etc. are essential for marketing and
helps to improve brand awareness in global market.
 There is an example of Tesco company for understanding marketing essential. It is a
British MNC groceries and general merchandiser retailer.

Role and responsibility of marketing function
Concept of marketing
It refers the strategies which is implemented by the companies for satisfying customers requirements, promoting sales, enhancing
profit and getting competitive advantage from competitive market. Marketing concepts helps organization to establishes good
relation with targeted potential customers so that gets high profit in the company. Marketing is essential part of the management
departments which introduces various strategies so that enables to builds good relation with potential customers in targeted market
(Rowley, 2016). Manager of the Tesco uses various marketing concept for improving brand awareness across the world. The
marketing concepts are-
 Production concept: Customer requires that product which available at affordable price so that they can purchase. It is the main
concept of the marketing but too old because now customer requirement is enhanced. It posses some drawbacks for example
when organization adapts concept, in that state organization unable to focus on their operations and loses organization's mission.
Still Tesco uses this philosophy for improving distribution efficiency and productivity of product at workplace.

Cont.
 Product concept: It helps organization to target those customers who require high quality product along with varieties. The main
goal of the product concept to retain customers and attract new customers by the product innovation. It is essential part of the
marketing strategies where focuses on product quality and their continuous improvement. Manager of the marketing department
adapts this concept so that enables to sell large quantity of goods. Manager always focuses on innovation of their services so that
marketer capable to retail products on wide scale and leads high revenue in the company.
 Selling concept: it helps marketer to understand customers mentality regarding product. Customers like to purchase products from
wide scale company rather to non recognizable company (Daoud, 2016). To sell products utilizes various strategies such as
promotion strategy, brand ambassador, sales transaction, advertisement etc. are utilized to improve selling of the products or goods
rather than build good relation with potential customers. It holds risk for example organization sells their own products which is
available in the company rather to market demands. Thus, organization unable to meets customers objectives in market. Manager of
the Tesco implements the strategies for improving product selling but unable to meet customers objectives, as result unable to retain
them with the company.

Roles and responsibility of marketing
 Roles and responsibilities plays important role in the marketing. Where helps to understand economical
and competitive characteristic of particular sector. Marketing enhances market shares by offering
competitive advantage in business market.
 Marketing plays role for recognizing targeted market which can generate high profit.
 Recognize profitable strategies for selling, promotion, cost-effectiveness etc. also important role of the
marketing. This strategy improves values of products and brand power.
 Marketing also supports to understand competitors nature and their strategies in hostile conditions.
 To recognize segment of customers within market also important role of the marketing. It helps
organization to understand demand of market.

Cont.
Current trends
 21st century is digital age where customers want to buy product from online media rather than wasting time to go and buy
products. On other hand organization also wants to improve their selling scale, that's why they use various new technologies
such as Mobile phone, computers and friendly printer etc. for communicating each type of customers. Tesco is superstore
company in London where manager currently uses marketing concept and societal concept for trading goods and their services
to customers. Manager utilizes digital platform for the marketing goods to customers (Aslam, 2018). Currently, marketing
trends uses digital platform in which includes promotion by print advertising, television advertisement and introduction of own
website Emails etc. Doctom bubble also current technique in which includes search engines, page ranks and blogging by
Mobile application. Currently Manager utilizes text message advertisement, targeted Email and internet video advertisement
for marketing products. Thus, It is also usage by the Tesco to retail products and establishes good relation with them. These
techniques' usage by the marketer of Tesco for improving brand awareness and generates high income of the company.

Marketing processes
There are various processes of marketing in which includes strategic marketing
analysis, marketing-mix planning, marketing implementation and marketing control.
These processes' usage by the organization to trading products. Processes are-
 Strategic marketing analysis: in this process analyses about product positioning
and market. Market analyses by the market segmentation which helps to
understand about market demands and their expectation for the products and their
services. In the segment includes various type of customer which posses different
requirement for the products. Market segmentation of customers leads high
profitability along with sustainable growth in the company.

Cont.
 Marketing mix planning: It includes four elements which improve brand power along with selling
profitability in competition market. Elements are Price, product, place and promotion, also known as
marketing-mix. The main goal of the marketing mix strategy to fulfil demand of targeted customers in
targeted market. Organization focuses on product development where improves quality of the products
along with continuous innovation, so that potential customers gets values. Packaging and branding is
integral part of marketing products, for example Tesco is retailer company which offers groceries in
well-formed packaging. Organization focuses on presentation of packaging of goods so that customers
attracts. Recently, Tesco uses reusable packages for packaging non-food and food item. The main goal
of the strategy to improve brand power and maintains sustainable growth in the global market. Price is
essential marketing strategy which has goal to retain existing customers and attracts new customers.

Cont.
 Marketing implementation
 It is the third procedure of marketing where organization implement's various strategies on
organization. It hires different agencies which practices these strategies for marketing products. For
example HR department introduces Commercialism, sales promotion and brand recognition idea around
the world, on other hand different type of agencies takes in action and marketing products.
 Marketing evaluation and control: It is crucial procedure of the marketing where evaluates
marketing in term of profitability, gross income, revenue and selling effectiveness. On other hand
marketing control gives control to business to keep control on operations which is implemented for
marketing. It includes annual-plan control, profitability control, efficiency control and strategic control.
Annual plan control evaluates by the manager where goals compare with actual sales

Marketing functions
 Market research: Market research is important function of the marketing where analyses product demand and
expectation. Even market research helps to understand competitor nature in competition market. It analyses brand
positioning in targeted market. If market research doesn't effective as result marketing of product can't possible.
 Finance: It is also important function of the marketing where analyses cost-effectiveness of the
product on customers or targeted market. The price of the product generally get impacted by governmental
policies, rate of profit, cost and cost of competitive products. There is an example to understand cost-effectiveness
(Kingsnorth, 2019). If product price is high as result purchasing power of customers decreases. On other hand if
product price is low as result selling power enhance but sustainable growth cant maintain prolong time. Therefore,
product cost should fix so that enables to profit margin.
 Market planning: to promote business or product in global market requires well-settled planning
so that enables to get marketing objectives in term of marketing shares. Marketing planning gives guidance to
marketer how promote product, what media use and how make it effective. It also posses negative impact for
example if marketing planning doesn't effective as result doesn't get profitable outcomes.

Interrelationship between marketing and
organizational functions
Marketing plays vital role in organization where work as mediator for all department
within organization. Interrelationship between-
Marketing and HR
 Human resources plays important function in the Tesco because it plays
various function such as planning, organizing, controlling and coordination etc. on
other hand marketing helps HR by giving information about customers feedback
regarding products and their services, competitors, brand positioning, opportunity and
threats for the organization. While HR helps marketer to recruit talented employees
according to marketer requirements and offers training classes so that helps marketer
for gathering information.

Cont.
Marketing and finance
 Finance department also plays important function for marketing where finance
department prepares fixed budget for the product marketing. While marketer tells about
product promotion expenditure so that finance department enables to yield appropriate
budget. Marketer always wants to expenditure high amount so that product promotes
well-formed. On other hand finance department try to save extra expenditure money so
that organization gets profit. Marketing department informs about product cost which is
executed in market while finance department fixed product price so that marketer
enables to generate high profit through marketing

Cont.
Marketing and R&D
 Research and development department is basically depended on the marketing
research which is important function of marketing. Marketer gather information and
analyses them during market research and address R&D department. On other hand
it has main function to do create creativity in product and their services so that
marketer enables to attract large number of customers thorough marketing. Thus,
both works closely and main goal of the both department to meet organization
mission over the time. Interrelation of both function also gives negative impact on
organization

CONCLUSION
 This report can be concluded Key roles and responsibility of the marketing. The
concept of the marketing has been summarized in the report. It can be concluded
different marketing processes.
 Key roles and responsibility of marketing function has been summarized in the report.
Interrelationship with marketing and organizations function has been concluded in the
report.
 Marketing function includes financing, communication, market research, product
development and promotion selling etc. can be concluded in the report.

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