Marketing Essentials: Functional Departments and Strategies Report

This report provides a comprehensive overview of marketing essentials, beginning with an introduction to the marketing concept and its significance in building customer relations. It delves into current and future marketing trends, emphasizing the increasing use of digital technology and customer-centric approaches. The report outlines the key marketing processes, including analysis, strategy formation, and implementation, and discusses the responsibilities of a marketing manager in fostering brand image and driving sales. Furthermore, it analyzes the critical interrelation of marketing with other functional departments, such as finance, highlighting the importance of effective coordination for achieving organizational goals. The report concludes by underscoring the vital role of marketing in achieving company objectives and building strong customer relationships, referencing several academic sources to support its arguments.

Marketing Essentials
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Content
 Introduction
 Marketing concept along with current and future marketing trends
 Marketing processes
 Responsibility of market manager of company
 Critical analysis of affect and interrelation of marketing with other
functional sections of company
 How is role of marketing important in organisation
 Importance of effective interrelations between functional departments
 Conclusion
 References

Introduction
Marketing is related to building strong relations with customers so that
the company can sell its products and services profitably to them
which will help it in reaching to its goals and objectives. Advertising,
promoting, delivering and selling of company products and services
are included in marketing which helps the company in achieving a
competitive advantage in the marketplace by building the brand image
of company.

Marketing concept along with current and
future marketing trends
Marketing concept is a strategy
which is used by company so
that the customer needs can be
analysed and then appropriate
decisions are made so that
these needs can be satisfied
efficiently.

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Production concept : According to this concept customers are attracted
towards goods that are largely found, easily accessible and highly
low-cost. For applying this concept Tesco needs to increase its
manufacturing and distribution efficiency so that customers can
access its products at reasonable prices.

Current trend in marketing
Increased use of digital technology in marketing, increased focus on
customer experience so that it can be enhanced better than other
competitors, right-time marketing by understanding customer's
characteristics etc. All these are used by companies to market the
goods and services that it offers to its customers.

Future trend in marketing
With the increase in use of technology and fluctuating customer needs
and wants it is important to evolve the marketing trends by
companies so that customers can be effectively reached and made
aware about its products and services. Maintaining transparency so
that effective customer relations can be created, inclusion of mobile
marketing strategy, use of AI in marketing etc. are the ways in
which marketing will be done in future to influence customers to
make purchases.

Marketing processes
Marketing process consists of
four elements namely marketing
analysis, formation of marketing
strategy, marketing-mix planning
and implementation and control
of marketing decisions so that
company can earn profits by
selling their products and services
to the customers.

Responsibility of market manager of company
Marketing manager plays a significant role in creating a brand image of
the company and promoting its products and services so that sales of
the company can be increased. The marketing manager plays the
following roles and responsibilities in Tesco so that demands of
customers can be satisfied.

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Conducting market research : It is important to identify the market
which the company is targeting along with the identification of
external and internal factors that affect the sustainability of Tesco in
competitive market.
Developing marketing plan and strategy : Marketing plan and strategy
are important so that target customers can be made aware of the
products and services offered by the company which will influence
them to make purchases.

Critical analysis of affect and interrelation of
marketing with other functional sections of
company
Marketing department of companies influence and interrelates
with other functional department so that the organisational
goals can be attained on time and in an efficient manner.

Importance of interrelation among various
departments are important in Tesco
Interrelationship of financial and market department : Financial
department helps in allocating appropriate budget for marketing
department so that market research can be conducted in an efficient
manner along with promotion of Tesco so that company sales
increase. Marketing department helps in building company sales and
building good customer relations which helps finance department in
developing financial statements and managing accounts.