Marketing Essentials: Executive Summary of Bulb Energy's Marketing

This report provides an executive summary of marketing essentials, focusing on Bulb Energy Ltd., a private finance energy supply organization. It defines marketing concepts, processes, and the impact of external environments using PESTLE analysis. The report examines the operations and structure of a marketing department within a medium-sized organization, emphasizing the importance of marketing functions in relation to other departments like HR, production, and finance. It offers recommendations for Bulb Energy Ltd. to improve its marketing strategies and achieve future growth, including adhering to government regulations, exploring new startups, and focusing on market opportunities. The report concludes by highlighting the significance of marketing in understanding customer needs and achieving business goals.

Marketing Essentials

Executive Summary:
According this significant assignment there are different marketing roles which is played
by small sized organization. The main purpose this assignment is to known about overall
marketing structure and operation like how an organization can use sort of forms in order to
make better growth of their overall success in future. By following lots of framework an
organization can define their external environment factors by which they can get affected in both
positive and negative way. By having lots of form in business firm can give better satisfaction to
its customers and make them productive. It is also helpful for them to achieve appropriate goals
and objectives within short period of time.

INTRODUCTION
Marketing refers to the philosophy by which firms should define their needs and demands
of their customers and take decision to satisfy their overall needs and wants. With the help of
these sorts of elements firms can make its decision better. This assignment is based on Bulb
Energy Ltd. which is known as private finance energy supply organization was formed in the
year of 2013 by Amit Gudka and Hayden Wood. Moreover discussion will be based on concept
and process of marketing along with PESTLE analysis to know how external environment
influences marketing activities (Nagle and Muller, 2017). At last, operation and structure of
marketing department in medium sized firms and importance of marketing function with other
marketing unit will get covered.
TASK 1
Definition of marketing along with its process and concept based on the PESTLE framework, an
analysis how external environment impact on marketing activities.
Marketing refers to those activities which are undertaken by a firm in order to promote
their buying and selling services within marketplace. Generally, marketing includes selling,
advertising and supplying goods and services to customers or any other business. On the other
side it is also known as management process by which goods and services move from the
scenario to the consumers. Therefore, marketing is one of the most essential parts of every
organization to understand customers’ needs and desires. In context with Bulb Energy Ltd., they
are using different types of marketing customers in order to give better financial services to its
customers accordingly. it influence their growth as well as increase firms productivity
appropriately.
Whereas, the marketing concept is very wide and refers to those strategies which is
implemented by firm to satisfy customers’ needs and wants. It helps firm to increase their overall
sales, profit and beat the competition (Jobber and Ellis-Chadwick, 2012). Therefore, it is
necessary for Bulb Energy Ltd. to make unique strategies to build strong and profitable
relationships with different customers. Herein, respective firm also used PESTLE analysis which
is generally used to described overall external environment of companies and how they are
operating its businesses in order to identify external environment impact on their overall business
activities and operations, which is following as under:
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Political Factor: This factor plays very important roles within organization in order to
identifying those factors which impact on the firm. It includes labour law, corruption, and
foreign trade policies and so on. In reference with Bulb Energy Limited, there are lots of
government rules and regulation which is generally used by them. With the help of using these
types of norms they can provide better services to its customers across the UK. Therefore, it
impacts positively on its customers and they can achieve their predetermined goals effectively.
Economical Factor: These are known as the determinants of a specific economy’s performance.
It mainly includes inflation rates, exchange rates, interest rates etc. In context with respective
firm they are using these sorts of changes in their business so that they an easily entered in to
new market without having any issues. By concerning on all over change they can make better
impression in front of customers and satisfy society’s needs and wants on time (Möller and
Parvinen, 2015). Therefore, this directly influence demand of this organization in a positive ways
and make them valuable with great identity as they make its services at lower prices.
Social Factor: These factors always represent the norms, custom, demographic characteristics
and overall value of the population which is operating by an organization. According to the
respective firm, as they deals with financial services so they are need to more focus on their
overall economy demand in order to expand its business at another country. For this they should
always considered their customers wants and make better strategies to target potential customers
at marketplace as well as those customers who can increase firms value in front of others.
Therefore, these external factors affect business of respective organization but make them
productive as well.
Technological Factor: This factor may influence the overall business operations of a particular
industry. It includes level of innovation, automation, R&D and so on. In regards with Bulb
energy ltd. they always try to make unique tolls and strategies in order to fulfil customers’ needs
as per their wants. They develop different technologies in order to become efficient and valuable
organization (Gummesson, Kuusela and Närvänen, 2014).
Environmental Factor: These factors are more important to know overall climate and weather
of country. With the help of this respective firm is able to know that for long how they can
survive in a particular country or place. By using this environment factor they can give services
as per customer’s choice.
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Legal Factor: It directly influences overall system of an organization. In reference with Bulb
energy Ltd., they analyse entire rules and laws which is given by country’s government and after
that they make their policies accordingly. With the help of this they can make better relations
with customers appropriately.
Explanation of the operations and structure of a marketing department within medium sized
organization.
Marketing refers to the specific place where goods can be sole or purchased, it has a wide
concept which is generally used by firm in order to fulfil their overall demand of customers. On
the side it plays significant role for those services which is offered by an organisation and shows
interrelationships with various department. Therefore, marketing is an essential term to
identifying appropriate needs and wants. Along with this marketing always have particular
structure and operations by which firms can survive for long duration of time at marketplace
(Glanz, Bader and Iyer, 2012).
Marketing structure: It refers to the degree of competition and nature within the market
for overall product and services. Structure of entire market for goods and services can be defined
as the nature of competition in a specific market place. As marketing has wide scope so there are
different types of marketing structure like oligopoly, monopolistic competition, perfect
competition, monopoly in order to gain competitive advantages by firm. With the help of these
type of structures firm can make their huge profits and able to reduce competition by giving them
proper satisfaction of goods and services to whole customers.
Marketing operations: It is broad term of market which is mainly used to collect overall
functions of marketing within the organizations. It includes process, people and technology
Along with this, it is very helpful for marketers to operate different types of scales at various
scale in order to make better quality of goods and services.
In context with medium size organization named as Bulb Energy Ltd, they are making
their overall services as per their customer’s choice. By following overall operations and
structure of market they can make its better future. In order to gain competitive scenario they are
focusing on its renewable energy policies by which they are able to give better financial services
to its customers in a proper way (Henriksen, 2012). Therefore they are always needed to have
effective strategies and techniques so that they can reach its growth and make them productive in
front of its customers.
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Importance of the marketing function to other department in the company.
Marketing is one of the best essential things which is done by different types of
businesses and firms within marketplace. With the help of effective marketing tools and
techniques firms can make strong relationship with its customers and grow their business in a
perfect manner. In the present scenario there is lots of marketing business functions which makes
every business or firm profitable as well as productive (Anche, Hozouri and Mehdizadeh, 2014).
Along with this marketing always engage with other departmental units at workplace in order to
take good decisions for betterment of customers. In reference with Bulb energy ltd., there are
different types of other unit of marketing functions which makes them productive and they can
take good decision on the basis of them. The overall interrelationship of marketing department
with other unit is very important to gain better achievements rapidly. There are different types
other units which all are interrelated with marketing departments and followed by respective
organization, those are listed below:
Marketing and Human resource department: HR department is one of the best
approaches to reach knowledgeable candidates to gain better efficiency in marketplace. In
reference with Bulb energy ltd., both HR department and marketing department are interrelated
as HR manager of this firm always recruit and hire better employees with lots of skills and
knowledge and concern with marketing department to make them productive (Chang, Yu and
Lu, 2015). So after this processes both departments take appropriate decisions in order to make
their organization effective. It shows proper interrelation of both units at marketplace and in the
firm also.
Marketing with Production department: Marketing is one of the best approaches to
reach potential customers rapidly. Whereas, production department helps firm to bring unique
working process to satisfy customers’ needs and wants on time. According to Bulb energy ltd,
both departments work together. For this production department makes different services and
consult with marketing department about their value in marketplace. After this both units take
decision to renew them goods and services to their customer’s at marketplace. It shows that how
both departments work together within the organization.
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Marketing with Finance department: Finance is one of the most essential part of every
organization which mainly includes planning, organizing, controlling, auditing firm’s finances.
As per the respective firm, marketing department always cope up with financial department as
this department prepare appropriate budget for them and produce financial statements as well.
Therefore, both units are interrelated to gain better achievements towards firm in an effective
way (Aswathappa, 2013).
RECOMMENDATIONS
From the above assignment it can be said that for betterment of future respective firm
should follow unique tools and strategies so that they can make its organization more famous in
front of their customers. Along with this there is little recommendation for Bulb energy ltd.,
those are following as under:
 It is necessary for them they should follow overall government rues and policies so that
they increase their growth and able to encourage other medium sized organizations.
 They should find more and more new start – up by which they can get desirable profits
and able to increase investments in government policies.
 At last it has been recommended to them that they should focus on few efforts for gaining
better opportunities within marketplace. With the help of this they can better success and
able to increase potential growth for future.
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CONCLUSION
From the above mentioned report it has been observed that, marketing is very wide
concept by which firms can get to know about overall demand and needs of customers. On the
basis of this firms are responsible to provide those goods and services desired by customers. On
the other side PESTLE analysis is very helpful marketing principle which shows the overall
aspects of external environment and how firms are getting influenced by them. Therefore, it is
necessary for firm to conduct appropriate research on overall marketing concept and structure in
order to survey for long period of time at marketplace. Along with this firms can achieved their
targeted goals.
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REFERENCES
Books and Journals
Anche, F., Hozouri, S. and Mehdizadeh, A., 2014. An exploration investigation on important
factors influencing e-marketing: Evidence from banking industry. Uncertain Supply
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Aswathappa, K. E. M. A. L., 2013. Human resource management: Text and cases. Tata
McGraw-Hill Education.
Chang, Y. T., Yu, H. and Lu, H. P., 2015. Persuasive messages, popularity cohesion, and
message diffusion in social media marketing. Journal of Business Research.68(4).
pp.777-782.
Gengler, C. E. and Mulvey, M. S., 2017. Planning pre-launch positioning: Segmentation via
willingness-to-pay and means-end brand differentiators. Journal of Brand Management.
24(3). pp.230-249.
Glanz, K., Bader, M. D. and Iyer, S., 2012. Retail grocery store marketing strategies and obesity:
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Gummesson, E., Kuusela, H. and Närvänen, E., 2014. Reinventing marketing strategy by
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Henriksen, L., 2012. Comprehensive tobacco marketing restrictions: promotion, packaging, price
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Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th).
McGraw-Hill Higher Education.
Möller, K. and Parvinen, P., 2015. An impact-oriented implementation approach in business
marketing research: Introduction to the Special Issue on “Implementing Strategies and
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Nagle, T. T. and Muller, G., 2017. The strategy and tactics of pricing: A guide to growing more
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