Marketing Essentials Report - University of XYZ, MKT101, Fall 2024

This report provides an overview of marketing essentials, detailing the role of marketing within a business, the relationship between marketing and other departments such as production and sales, and how these departments work together to meet customer needs and address market competition. The report highlights the importance of market research, customer feedback, and adapting to market trends. It discusses the impact of competition and the necessity for companies to innovate and differentiate themselves in the market. The conclusion emphasizes the significance of marketing for business growth and the importance of strong inter-departmental relationships. References are included to support the analysis.

MARKETING ESSENTIALS

TOC
Introduction
Role of marketing
Relationship between different departments
Conclusion
references

INTRODUCTION
Marketing is an action which is implemented for
promoting and increasing the selling of the product and
services which is including market research and
advertising.
Study will explain role and responsibility of marketing
in business unit.

Roles and responsibility of marketing function
Market research
Market promotion
Selling
Pricing

Relationship between different departments
Marketing and production department: The main aim of marketing function is to Listen to the needs of
customer. Product must be made according to the demand made by the customers, demands like low cost of
product and quality of the product must be as per need of customers. Customers give feedback and reviews
of the company regarding the product to the marketing department. This feedback and reviews are given to
the production department for improvising the product by the marketing department.
marketing with sales department – marketing department is giving the details of the customers to the sales
department for increasing the sales of the product. Sales department controls the sales of the company,
marketing department instructs every department how to work on the product of the company following the
needs of the company.

Cont….
All the department of the company must be included by the marketing department and the
relevant information for all department must be provided to them by the marketing department.
Competition in the market is would be managed and controlled by effective working of all
departments of the company.
Competition in market is increasing day by day but product needs something special which
would attract customers especially in field of fashion. All the department H&M company must
think to add something special in the product which fight the competition in the market.
Competition in market is increasing as technology is upgrading in time.
Production deaprtment of Company must try to face competition and try to launch something
innovative in market which will rule market. Strong competition in market is having the impact
on sale of product, sales department is trying to launch new products must be of the company to
fight the competitors in market. Competitors in market are using company weakness as their
strength, so company must try to overcome the weakness of product as well weakness of
company.

CONCLUSION
Marketing is very important for the growth of business.
It supports other department and their relationship help the firm in achieving its goal.

References
Datta, H., Ailawadi, K.L. and Van Heerde, H.J., 2017. How well does consumer-based brand
equity align with sales-based brand equity and marketing-mix response?. Journal of Marketing.
81(3). pp.1-20.
Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business intelligence
through the lens of marketing mix. Big Data Research. 2(1). pp.28-32.