Marketing Essentials Report: Trends, Processes, M&S Analysis

This report provides a detailed analysis of marketing essentials, beginning with an introduction to the concept of marketing and its current and future trends, such as increased customer focus, AI, and big data analytics. It explores different marketing processes, including situation analysis, marketing strategy, and marketing mix decisions. The report outlines the role and responsibilities of a marketing function, emphasizing its interrelation with other departments like finance, HR, and R&D. A significant portion of the report is dedicated to the value and importance of the marketing role, highlighting its function in fulfilling customer needs, widening the market, and utilizing communication tools. The report uses Marks and Spencer as a case study to illustrate these concepts, concluding with a summary of the marketing function's crucial role in organizational success and customer satisfaction. References are provided for further study.

Marketing Essentials

Table of Content
• Introduction
• Concept of marketing, including current and future trends
• Overview of different marketing processes
• Role and responsibilities of a marketing function
• How marketing influences and interrelates with other functional departments
• Value and importance of the marketing role
• Conclusion
• References

Introduction
Marketing refers to all the tasks that are carried out by an organization to encourage the people
or customers to buy its products or services. The activities can be advertising, promoting,
delivering the products to the customers etc. Marketing essentials are said to form the backbone
of any organization. This presentation is based on Marks and Spencer is a leading British brand
having operations in Food and clothing for men, women and children.

Concept of marketing, including current and
future trends
Marketing can be defined as the various activities that an organization undertakes to promote its
products and services in the market to encourage the customers to purchase its products. All
organizations have a department that is dedicated for carrying out different marketing activities
that help the company in improving or increasing its sales and overall profitability to be able to
sustain in the market.

Cont.…
Current Trends: There are various trends that have been driving the marketing activities lately
such as increased focus on customers, use of Artificial Intelligence, use of big data analytics etc.
Social media has become one of the most popular trend in the marketing industry as a number
of organizations promote and sell their products online by opting a number of ways to market
their products.

Cont.…
Future Trends: With an increased focus on the customers, the need for using the latest
technologies like chatbots, augmented reality, virtual reality is being implemented by a number
of organization on a fast pace. Also, there are chances of the consumer buying decisions getting
more complex, personalization of products will be a more common thing, communication
through mobile phones has become the center of marketing.

Overview of different marketing processes
Organizations always look for the customer needs that require to be fulfilled and thus come up
with products that are designed in such a way that they fulfil their needs. There are various
processes involved in carrying out this. An overview of the different marketing processes is
explained below -
• Situation analysis
• Marketing strategy
• Marketing Mix Decisions
• Implementation and control

Role and responsibilities of a marketing
function
Marketing function in Marks and Spencer is responsible for carrying out and managing a
number of a tasks and activities. Organizations today are aware of the fact that a marketing
departments are of great help when it comes to communicating with the customers. Some
roles and responsibilities of the marketing functions at Marks and Spencer are described
below -
• Understanding customer needs
• Monitor competition
• Product development

How marketing influences and interrelates
with other functional departments
Marketing functions in different organizations have great responsibilities and is interrelated and
works in coordination with other departments of the organization since it is not possible for any
department to work individually. All of them work together towards achieving the goals and
objectives of the organisation. This helps the organisation to raise its revenue and profits and
also improve overall sales.

Cont.…
Interrelation of the marketing function with other functions of the organisation is explained
below -
• Marketing and Finance
• Marketing and Human Resource
• Marketing and Research and Development Department

Value and importance of the marketing role
The importance of marketing function's roles is explained below -
• Fulfilling customers' needs and wants – Marketers at Marks and Spencer recognize the
needs and wants of their customers and then opt for the correct marketing strategies to
influence and attract the customers. The company can manufacture products that meet the
needs and wants of the customers. If the company does not follow this strategy, it will
probably face loss and a lot of competition.

Cont.…
Widens market – Marks and Spencer uses a lot of communication tools like promotions,
advertising, event marketing etc. to increase its customer base. The marketing function is
responsible for reaching out to as much number of people as possible to widen the company's
presence in the market. If appropriate tools are not used, there are chances that some segments
of people will get left out and will not understand anything that the brand is trying to convey.