Marketing Essentials Report: Barclays Bank - HND Business, Marketing

This report provides an in-depth analysis of marketing essentials within the context of Barclays Bank. It begins with an introduction outlining the importance of marketing in achieving organizational objectives and the strategies employed, such as promotional and marketing processes. The report then delves into Task 1, exploring the key roles and responsibilities of the marketing function, including pricing, marketing information management, distribution, financing, product, promotion, and selling, all within the framework of Barclays' operations. The report further examines how these marketing roles interrelate within the wider organizational context, focusing on the relationship between the marketing department and other departments like HR and finance. Task 2 explores the planning process through the marketing mix (7Ps), and Task 3 addresses product evaluation. The report concludes with an overview of the findings, emphasizing the significance of each marketing function and its impact on the company's performance and profitability. The interrelationship between marketing and other departments and responsibilities related to marketing are also discussed. The report also uses the 7Ps of the marketing mix to analyze the planning process.

Marketing essentials

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Marketing function roles........................................................................................................1
M1...............................................................................................................................................4
P2 Responsibilities related to marketing.....................................................................................4
M2...............................................................................................................................................5
D1................................................................................................................................................5
TASK 2............................................................................................................................................6
P3 Plaining process through marketing mix...............................................................................6
M3...............................................................................................................................................8
TASK 3............................................................................................................................................9
P4 Product evaluation.................................................................................................................9
M4.............................................................................................................................................11
D2 .............................................................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES ...........................................................................................................................13
Books and journals .....................................................................................................................13

Illustration Index
Illustration 1: The 7 functions of marketing....................................................................................2
Illustration 2: 7 P's of marketing mix...............................................................................................7

INTRODUCTION
Marketing essential helps to achieve objective of organisation. For this various strategies
are implemented such as promotional and marketing process. It helps firms in order to present
their products effectively in market and make huge profit (Baack, Harris and Baack, 2013). In
order to effectively implement this various audits and researches are organisation in order to
analyse market competition. This report is based on the role of marketing essentials in an
organisation. All the informations are presented in context of Barclays. Barclays is one the
largest banking and financing company of UK. The organisation was founded in 1690 at
Kingdom of England. The headquarter of organisation are established at London, Canary Wharf
and One Churchill place. Along with banking and financing sector various other services are
also provided by them. Such as retail, wholesale, investment, wealth and mortgage.
They are providing services in more then 50 countries and 48 millions clients are taking
advantage of their services. According to the survey conducted at 2016, organisation is
generating revenue about 21. 451 billion (Babiuk and et. al., 2015). Total 1,29,400 employees
are working with company at different part of world. Under the banking sector organisation is
able to attract their clients through gold fixing process. This report consists of roles and
responsibilities of marketing functions, roles and responsibilities of marketing strategies are also
considered. Marketing mix strategies are also implemented in order to make processing of
marketing mix effectively. Along with this product evaluation is also considered in order to
analyse effectiveness of marketing plan.
TASK 1
P1 Marketing function roles.
Marketing functions are considered essential to understand customers needs. It helps to
understand target audience by considering various factors. Barclays implements marketing
functional in order to improve commercialism procedure (.Bastable, 2016). The process consists
following seven stages:
Pricing: Pricing is considered as basic step of marketing function process. Through this
companies are offering their services to clients by at some cost. In order to effectively implement
1

this process various ground reality tests are conducted by organisation. Barclays are providing
various investment plans at low interest rates. Therefore, people usually consider their services.
(Source: Eslinger, 2014)
Marketing information management: It is one of the essential step of this process.
Through this they are able to understand needs of customers. For this various researches and
audits are conducted. On the basis of that marketing strategies are developed by organisations.
Barclays considered it an an essential steps (Eslinger, 2014). Barclays conducts
various marketing research and audits. Through this way they are able to analyse market
competition. On the basis of that strategies can be developed to make process more effective.
Organisation implement /this process into two approaches:
 Transaction Processing: This step consists of basic questions in order to manage
processing smooth. Like material, payment of employees and sales of products.
 Managing information: This step is implemented in order to manage important
information of organisation. Such as performance analysis report, sales and purchase
process of company.
2
Illustration 1: The 7 functions of marketing

Distribution: In this process various distribution channels are considered , in order to
provide services to clients. Through this process companies are making money by reducing
complication of distribution channel. Success of products is directly dependent on the
distribution mechanisms. It helps to increase interaction of company with clients. Barclays
considers various modes to provides services (Hoeffler, Herzenstein and Ginzburg, 2015). Such
as physical banks, internet banking and mobile applications. Though this way they are offering
flexible services. Therefore, clients are preferring their services.
Financing: Through this process organisation invest money in order to increase
profitability of company. The money flows like loan, investment and capital of company. The
financial process can directly affects promotional and advertisement process of products.
Barclays spends huge amount of capital at promotional activities. Such as internet advertisement,
broacher, pamphlet, newspapers and much more. Through all these activities they are attracting
clients.
Product: Products are considered as face of company. Through products and services
they offer clients. In order to maintain sales of products, quality should be maintained. For this
feedbacks and suggestions of clients are considered (Kennedy and Parsons, 2014). On the basis
of that improvisation strategies are implemented. Barclays providing various products to their
clients. Such as transactional, saving, debit, ATM, credit and various types of loans. Through all
these products they are able to attract huge amount of clients.
Promotion: Through this step firms are creating various ideas in order to present their
services in market. This is one of the essential process. For this process various mediums are
considered such as print, digital and social media. Through this process organisation always try
to attract users in order to exchange money and making money. Barclays conducts various types
of promotional activities. Such as internet, TV, newspapers, FM and much more. Through this
promotional activities company tries to influence customer's to invest into their banks.
Selling: Selling is considered as last step of this process. Through this step companies are
providing their services to clients. This is considered as an important stage in order top identify
the success of any products (Kladou and et. al., 2016). This step directly affect profitability of
company. Barclays adopts various steps in order to increase sales of products and services. Such
as providing loans at low interest rates, credit and debit cards at nominal interest and taxation.
3

This all steps are required in order to attract more number of clients, so that profitability of
organisation can increased.
M1
Roles and responsibilities of organisation are dependent on various factors such as
internal and external. They directly make impact on the growth of company. For this various
marketing strategies are implemented on the basis of organisational structure. Barclays
implements seven marketing function in order to maximise performance of company. As the
organisation is having ventures therefore, various factors are considered by company. All the
services of company follows different distribution channels, promotional strategies, pricing
steps, research operations for marketing (.Lukito, Lukito and Arifin, 2015). The financing
facilities of company is handled by same way. Through distributing roles and responsibilities
processing of operations become simple.
P2 Responsibilities related to marketing.
Marketing strategies are able to affect organisation directly. It helps to promote products
and services of company. It helps to present their commodities to clients. Barclays is one of the
largest banking and financing company of UK. They are implementing facilities and services by
implementing effective marketing plan (Maiam, 2015). In order to achieve desired results
processing and implementation of strategies should be appropriate. The responsibilities of
marketing are following:
Market section: Through this step marketing team distributes products according to their
services. On the basis of their services, processing takes place. Barclays is having marketing
section into their organisation. It helps to identify plans according to needs, on the basis of that
various strategies are implemented (Mueller and et. al., 2015). This is considered step in order to
implement effective marketing plans.
Strategies: Strategies refers to the flow of processing in order to achieve results. It is involved in
order to get effective results. In this procedure is distributed into small steps in order to make
processing effective. Barclays involve this in order to implement various plans at different areas
such as segmenting market, promotional, pricing, distribution and so on.
Action plan: This step is considered as basic step of organisation, in order to make processing
effective. It helps to identify each step that is essential in processing. Along with this different
conditions are also considered in order to reduce failure of plan. Barclays implement action plans
4

for every process (Nguyen, Simkin and Canhoto, eds., 2015). It helps to improve efficiency of
system and also helps to identify various conditions that can arise during flow of process.
Outcomes: This step is considered as final step of this market plan processing. Through this step
organisations are able to reach at target. If all the previous steps are effectively implemented,
outcomes of company will directly become effective. Results depends on the efficiency of
previous steps that are involved in processing.
Along with this various responsibilities are also associated with the processing of
marketing plans. Such as company should be able to understand all the demands of clients,
accordingly strategies will be implemented. In order to effectively manage communication
between clients and organisation, internal and external two types of communication channels are
considered into organisation (Rowley, 2016). Various trackers and monitoring systems are also
implemented into company. It helps to evaluate position of company and identify competition of
on the basis of market conditions. Another important responsibility of marketing strategies is
maintaining brand- value. For this various strategies such as making communication effective,
presenting objective of company effectively.
Inter-relationship of functions with other department: All department have different function
to enhance the performance of the company. Marketing department is related with each
department like HR, finance, research and development etc. those have different responsibilities
in the company. The Marketing is related with HR such as if the productivity of the product is
high then need more employees to work together to achieve the desired goal of the firm. The
Finance department is also related with marketing department like if there is need for machinery
and such kind of equipment then must increase the budget of the organization. Production
department is also related with marketing if productivity of the product in the market is high then
firm will need to produce more items for the customers.
M2
Organisation are associated with various functional units. They all combinationally work
in order to maintain processing of various operational section. Various units of Barclays are
interrelated in order to run procedure effectively. Such as relationship between marketing
management and product and services unit . All the researches are conducted by production and
development department in order to meet present need and consider future demands of clients.
Financing department is also related with marketing such as various promotional an
5

advertisement funds are provided by this unit of organisation (Ryan, 2016). Along with this
budget and profitability of company is also estimated by them. All the steps are interrelated with
each other. In order to improve their performance of marketing functional are considered as
important part.
D1
On the basis of above report all the marketing functions are critically analysed. On the
basis of that all the segments of marketing functions are considered important for marketing
process of Barclays. Pricing and selling of marketing functions are essential. It helps to
effectively manage sales and purchase of company. Distribution helps to make products
available into market , so that profitability of organisation can be increased. Financing helps to
manage promotional activities under minimum budget (Silver, 2013). It helps to reduce costing
of organisation. Products and promotions are interrelated. Through this steps Barclays,
implements advertisement strategies in order to influence more number of clients. Organisation
are associated with various functional units.
They all combinationally work in order to maintain processing of various operational
section. Such as relationship between marketing management and product and services unit . All
the researches are conducted by production and development department in order to meet
present need and consider future demands of clients. Financing department is also related with
marketing such as various promotional an advertisement funds are provided by this unit of
organisation (SPACE and SPACE, 2015). Along with this budget and profitability of company is
also estimated by them. All the steps are interrelated with each other.
TASK 2
P3 Plaining process through marketing mix.
Marketing mix is considered as a process through which organisations are able to
implement strategies, actions and plans. Barclays implements this approach in order to make
promotional and advertisement activity effective. Following are considered as steps of marketing
mix:
Pricing: This is considered as an essential step of marketing mix. In this process services are
provided to clients on behalf of some input, which is considered as pricing. Barclays it consider
it essential for the growth of company (Strandvik and Heinonen, 2015). In order to implement
6

pricing effectively they are considering various factors such as customers needs, internal and
external environment factors. On the basis of that strategies are planed in order to increase
profitability.
Products: It refers to the services that are provided by organisation. They are considered as face
of company. Barclays are providing various services to clients such as transactional, saving,
debit, ATM, credit and various types of loans. These services helps the organisation by providing
strength. All the marketing process is completely dependent on their products.
Places: This is considered through which organisation is able to target their clients. Locations of
organisation's are al ways at the centre and easily reachable. Place directly affects the sales of
company (Swenson and et. al., 2014). Barclays understands importance of places and ,locations
of banks. Therefore, all the branches are easily reachable and or having easy connection facility.
Through this way they are able to attract more number of clients.
(Source: Walliman, 2015)
7
Illustration 2: 7 P's of marketing mix

Promotions: All the activities that are conducted in order to make clients aware about their new
services or inspire to purchase them. These all activities are considered as promotional activities.
It helps the organisation to connects more number of clients . Barclays implements different
approaches in order to promote products (Walliman, 2015). This helps them to increase their
profitability and market value.
People: Peoples are considered as basic elements of business. Their demands and requirements
are considered in order to increase sales of products. They are directly connected with purchase
of products. Barclays considered them as vital part of process. For providing flexibility and easy
services, organisation is providing various services. Such as online banking, mobile applications,
credit and debit cards.
Process: This is considered as an essential part of an organisation. All the steps are considered
that are participating into the development process. Such as designing, implementing and final
stage. Barclays take this step vary essential ( Zaccagnini and White, 2015). All the stages should
be effectively considered so that efficiency of products can be achieved.
Physical environment: This is considered in order to provide physical evidences of services.
Through this way evidences are provided to clients for judiciary purpose. With the help of this
user can claim about the quality of services.
Inter-relationship with the marketing mix: All the marketing mix are related to each other.
Product is related to price mix like based on the product only price will be decided. Based on the
customer needs items will be created for satisfying the client needs. Promotion is related to the
product and place such as company should promote the products in which place there is
necessary.
Organisations implements marketing mix in order to make marketing strategies efficient.
It can be introduced for both products and services. Through this companies are able to plan
strategies according to the market situation. On the basis of above report, Barclay's is
implementing marketing mix in order to introduce their banking and financing products and
services to clients effectively. For this various strategies are adopted by them. Such as internet,
social, print and digital media systems are considered (.The four steps to a marketing action plan.
2017). It helps to cover large amount of audience at small duration. Along with this advance
distribution structures are considered. Through this way organisation is able to provide flexibility
and simple process. Therefore, it directly impact on the growth of company. Pricing step is
8

introduced in order to provide facilities at affordable prices. In order to make people comfortable
while using their services, they provide ATM, debit and credit card system. So that they can
access their account anytime.
M3
Various business tactics are implemented by organisation in order to achieve objective of
organisation. Barclays also implements various strategies according to situation. Such as under
banking sector internet banking and mobile access portals are provided. Along with this ATM,
debit and credit card facilities. Other venters of company are also offering various facilities to
their clients (Action plan. 2011). Such as home delivery, 24*7 shopping outlets and various
payments schemes. It helps the organisation to attract huge number of clients towards of clients.
This helps the company in order to maximise profitability and increase growth. These all tactics
are very effective are able to attract clients.
TASK 3
P4 Marketing plan for the organization.
Evaluation and analysis of products are based on the marketing plaining process. This is
considered as an important step. Through this step organisations will be able to identify
weaknesses of existing process. On the basis of that various strategies are ,implemented in order
to overcome them. Barclay's also involve this process into their firm. They apply market
plaining step in order to make documentation and specification of all the strategies that are
implemented into the process (Marketing mentor, 2017). In order to implement process
effectively, various stage are considered that are following:
 Operation plaining for 5 year.
 Yearly plan of action.
 Employees work plan.
Documentation of action plans helps to provides informations about services and
investments that will provided by organisation. The marketing plan of company will provided on
the websites. So that viewers can easily visit them. Through this steps organisations will able to
estimate budget of all procedure.
Objective: Marketing objectives are set by organisation. This helps to achieve target, by meeting
demands of users. Under this services are provided by considering both present and future
9