Marketing Essentials: Role of Marketing, Marketing Mix, and Planning

This report delves into the core concepts of marketing, beginning with an exploration of its fundamental role within a business, encompassing market research, product development, communications, and sales support. It then examines the marketing mix, focusing on both the traditional 4 Ps (Product, Place, Price, Promotion) and the extended 7 Ps (including People, Processes, and Physical Evidence), highlighting their significance in achieving business objectives. The report concludes with a discussion on developing and evaluating a marketing plan, including key metrics like ROI, customer feedback, and competitor analysis, providing a framework for assessing and refining marketing strategies for optimal effectiveness. References from academic journals and books support the report's assertions.

Marketing essentials

Contents
Marketing Essentials....................................................................................................................................1
Lo1:..............................................................................................................................................................3
Role of marketing:...................................................................................................................................3
Structure and operations of marketing department:..............................................................................3
Market Research:.....................................................................................................................................4
Product Development:.............................................................................................................................4
Communications:.....................................................................................................................................4
Sales Support:..........................................................................................................................................4
Events:.....................................................................................................................................................5
Lo2:..............................................................................................................................................................5
7 P’s of marketing mix to achieve business objectives:...........................................................................5
4 P’s of marketing mix:........................................................................................................................5
The extended 7 P’s:.............................................................................................................................6
Lo3:..............................................................................................................................................................6
Development and evaluation of a marketing plan:.................................................................................6
References:..................................................................................................................................................9

Lo1:
The role of marketing:
A general and enormously wrong vision is that selling and promotion are marketing. Though
these actions are a branch of the advertising mix and were normally professed as the only
productions from a bunch of marketing labors that were calculated, they are in fact only a part of
this whole procedure. In accumulation to promotional deeds, or the broad selling mix as they’re
more frequently identified, marketing comprised a massive tactical and calculated set of
purposes including; reviewing & analysis, preparation, creation progress, wrapping, pricing,
allocation, customer facility, and assessment (Mamula, 2012).
Many associations and businesses allow duty for the marketing tasks to a marketing
executive or particular crowd of creative’s within the Institute. In this deference, marketing is an
exclusive and detach unit. Those who formulate the marketing section may also embrace the
brand and merchandise supervisors, promotion researchers, sales council, publicity and
endorsement managers, costing specialists, and client service employees (Stosic, 2014).
The basic role of marketing:
 Understanding the financial and aggressive features of a zone.
 Identifying object markets.
 Identifying sections within an external market.
 Identifying suitable approaches.

Structure and operations of marketing department:
The managerial formation of the marketing section of a corporation can differ according to the
personal company. Diminutive companies might consist of one-two advertising workers, and
larger associations might have dozens of selling workforce on the team. In general, putting an
executive construction in place facilitates marketing workers and other workers of the business
to recognize what the part of each is the marketing branch. The operations of a marketing
department are given below:
Market Research:
Market research is a major duty for the marketing section. Investigations help the corporation to
categorize market prospects and increase an enhanced indulgent of consumer needs (Harrigan
and Hulbert, 2011).
Product Development:
The marketing unit works with inner or outer product improvement teams to expand new goods
or advance available ones. The section examines sales of friendly products and discovers spaces
in the product variety where there could be prospects for the company.
Communications:
Marketing sectors plan promotions and widen communications matter to endorse products and
facilities to clients and diagnosis. Depending on their available funds, they can plan publicity
campaigns, expand e-mail advertising programs, produce promotional substance for the business
website, inscribe press liberations or product pamphlets, such as artifact flyers, company leaflets,
product information sheets or buyer news sheets.

Sales Support:
Collaboration between the retailing and marketing divisions can progress sales presentation and
pace up a business enlargement. The marketing section can offer sales group with high-class
guides by running announcements that comprise a reply machine, such as a voucher or telephone
digit, or by cheering guests to the business website to record their information in return for a
liberated bulletin or excellent report.
Events:
In some associations, marketing sections are accountable for arranging procedures, such as trade
fairs, colloquiums, sales meetings or client generosity events (Baker and Baker, 2010).
Lo2:
7 P’s of the marketing mix to achieve business objectives:
4 P's of the marketing mix:
 Product - The product must fit the mission customers desire it for, it must work and it
ought to be what the clients are waiting for to get. For example, Google delivers exact
information that is why it is very liable to customers.
 Place – The artifact should be accessible from where the company’s target purchaser
discovers it easiest for shopping. This might be high road, mails or the more recent
choice by e-commerce or an online supermarket (Morrison, 2010).
 Price – The invention should constantly be witnessed as representing excellent value for
cash. This does not inevitably mean it must be the cheapest presented; one of the major
doctrines of the marketing conception is that consumer are generally happy to give a little

extra for something that functions truly well for them. For example, Apple has the most
expensive products. But they became the best sellers because of their assurance quality.
 Promotion – Publicity, PR, deals endorsement, own advertising are all chief contact
apparatus for an organization. These apparatus should be utilized to set the association’s
message to the acceptable viewers in the way they would mainly like to listen, whether it
is educational or tempting to their sentiments (The 20 Ps of marketing: a complete guide to
marketing strategy, 2014).
The extended 7 Ps:
 People – All organizations are dependent on the inhabitants who control them from
borderline sales employees to the organization manager. Having the correct people is
necessary since they are as much a piece of the business contribution as the goods they
are presenting.
 Processes –The deliverance of a service isgenerally completed with the client nearby so
how the facility is given is again a component of what the customer is giving money for.
 Physical Evidence – Almost every service embrace some material essentials even if the
immensity of what the purchaser is paying for is elusive (Bergstedt, 2010).
Lo3:
Development and evaluation of a marketing plan:
Marketing tactics provide the designs for a company's advertising policy. They put out each
aspect of what is to appear over the subsequent year and might be an issue to modification or
assessment because of transformations in the market. Advertising should not be put in movement
and left unaided, but persistently reviewed, appraised and attuned to suit the requirements of the
company and the needs of the customer. The basic evaluations are given below:

ROI: “Return on investment” is the main apprehension when it concerns marketing or other
company expenditures. The plan is to verify whether the funds a company deposit into their
marketing chart has effected in revenue. A company must calculate the quantity used in each
promotion, against the sum of sales every promotion brought in purposely. The company can
analyze a general quantity, but a more detailed breakdown by every marketing proposal will
inform the company about exactly which operations worked and which did not (Jensen, 2013).
Customer Reaction: Customer reaction in all its diverse shapes can assist an organization to
decide what kind of feedbacks their marketing makes. Online and personal reviews, broad
consumer service opinion and online comments can disclose what the consumers feel about their
advertising and which promotions have the maximum impact. Simple inquiries about products
can divulge which proposals are getting the client and which promoting sections are making
acquisitions (Hiebing, Cooper and Wehrenberg, 2012).
Expansion: If advertising reach is growing, the value of preparation is the possible cause. The
promotion that creates its path into new areas either by purchase suggestion or natural expansion
shows both a successful and accepted product or knowledge and a useful marketing point. The
development of marketing finances is one more symbol that the scheme is working fine and has
achieved more help from the corporation.
Salespeople: External salespeople are a great indicator for the dimension of marketing
efficiency. A company should ask for an opinion from their workers to verify whether the point
they are supplying and the customs they are giving it are successful. They should be prepared to
get a recommendation, but if the reaction is tremendously negative or clients are totally ignorant

of the company’s most recent marketing labors, then their plan must be modified to improved
address current customers and to suit the requirements of their sales group (Vaňa and Černá, 2012).
Competitor Response:
The activities of opponents can frequently be very effective when it concerns the achievement or
crash of a promotion plan. If rivals hustle to copy what another company has done, then it seems
that the marketing strategy is working successfully. If a company’s promotions go mostly
mistreated, or there is an instant negative reaction, there might be a problem or at least a query
regarding what the company has set in movement.

References:
Baker, P. and Baker, P. (2010). The role of marketing in launching new products. 1st ed. Upper Saddle
River, N.J.: Pearson Education Pub. as FTPress Delivers.
Bergstedt, R. (2010). Understanding the Foundations of Marketing - the Three Cs and the Four Ps.
ACSM's Health & Fitness Journal, 14(5), pp.38-40.
Harrigan, P. and Hulbert, B. (2011). How Can Marketing Academics Serve Marketing Practice? The New
Marketing DNA as a Model for Marketing Education. Journal of Marketing Education, 33(3), pp.253-272.
Hiebing, R., Cooper, S. and Wehrenberg, S. (2012). The successful marketing plan. 1st ed. New York:
McGraw-Hill.
Jensen, D. (2013). Your Personal Marketing Plan. Science.
Mamula, T. (2012). Role of marketing metrics in strategic brand management. Marketing, 43(1), pp.49-
61.
Morrison, A. (2010). Hospitality and travel marketing. 1st ed. Clifton Park, NY: Delmar Cengage Learning.
Stosic, I. (2014). The role of marketing in corporate restructuring in crisis period. Marketing, 45(1),
pp.41-49.
The 20 Ps of marketing: a complete guide to marketing strategy. (2014). Choice Reviews Online, 51(11),
pp.51-6264-51-6264.
Vaňa, K. and Černá, Ľ. (2012). The Marketing Audit as a Method of the Evaluation of the Marketing Plan.
Research Papers Faculty of Materials Science and Technology Slovak University of Technology, 20(Special
Number).