Marketing Essentials Report: Roles, Relations, and Thomas Cook

This report delves into the core concepts of marketing, emphasizing its crucial role in business success. It begins by defining marketing and outlining the roles and responsibilities of the marketing function, including market strategy, research, product development, and promotion. The report then explores the interrelation between marketing and other key departments like finance, R&D, HR, and production, highlighting their interdependence in achieving organizational objectives, using the Thomas Cook Group as a case study. The significance of maintaining healthy relationships between these functions is also discussed. Finally, the report concludes by summarizing the key takeaways and emphasizing the importance of marketing for business growth, referencing the Thomas Cook Group's operations across multiple countries. The report provides valuable insights into how marketing integrates with other business functions to achieve overall goals.

Marketing Essentials

Table of Content
 Introduction
 Roles and responsibilities of marketing function
 Interrelation between marketing and other departments
 Conclusion
 References

Introduction
Marketing is the process in which a relationship with customers is created by fulfilling
their needs and wants. It can be defined as a method of management that is responsible to
identify, anticipate and satisfy requirements of customers profitably. Marketing is a core
function of every business which helps it to develop its activities by promoting and
selling its goods and services.

Roles and responsibilities of marketing function
Marketing function can be define as the responsibilities of business enterprise that helps
to identify customer's needs and demand and than develop product and services
accordingly. The various roles and responsibilities of marketing function are-
Marketing Strategy- It is referred as a future looking approach towards planning various
business activities in order to achieve competitive advantage.

Continue....
Market Research- It is a set of activities that is used to specify the required
information to marketers regarding the demand and needs of customers and
competition prevailing in market.
Product Development- It can be done in two ways, either by introducing a new
product in market or by altering existing product.

Continue....
Promotion- The basic role of marketing is investing in promotional techniques in order to
promote its product and services in the market . Promotion helps the customers in
knowing that a particular product or service exist in market. Thomas cook group uses
both promotional measures online and offline to promote its services to potential
customers.

Roles and Responsibilities of marketing in context of
marketing environment
Marketing serves various roles and responsibilities in an
organization and helps it to achieve overall objectives of
an enterprise. It plays an vital role in reference to
environment existing around it which can be seen as
follows-
Market Information System- It is an approach that is
designed in order to support marketing decision making.

Continue....
Market segmentation- It is a process of division of customers into various groups and
segments
To monitor marketing environment- Marketing helps the organization to identify and
determine new changes taking place in environment. It includes changes in traits of
marketing, social and political environment, competitors and so on.

Interrelation between marketing and other departments
All the functions of an organization are closely related to each other and work together in
order to achieve organizational objectives. Marketing and other functions of an
organization are interdependent on each other and its very important for an organization
to form a healthy relation between these functions to fulfill organizational objectives.
Relationship of marketing with other department of Thomas cook group is explained
below-

Continue....
Marketing and Finance department- Both of these functions are closely linked with each
other and work together in order to achieve overall objectives of an organization In
traveling and tourism organization such as Thomas cook group , marketing functions
helps to identify potential customers and their preferences and needs (Glanz Bader and
Iyer, 2012).
Marketing and R&D department- In Thomas cook group , both Marketing and R&D
department serves various function and work together to formulate marketing activities.

Continue....
Marketing and HR department- In the context of respective organization, both
marketing and HR functions are important in order to achieve business objectives
Marketing and Production Department- Traveling and tourism companies like Thomas
Cook Group makes both these functions work together for meeting objectives of an
enterprise. Production department helps in distributing and making these traveling
services available among customers.

Significance of Interrelation between marketing and
other departments-
It is very important for Thomas cook group to
maintain a relationship between marketing and
other functional departments in order to improve
the overall performance of an organization.
Healthy relation between organizational functions
will lead to effective working and objectives of
respective company can be easily achieved.