Marketing Essentials: Key Responsibilities and PESTLE Analysis

This essay provides a comprehensive overview of marketing essentials, focusing on key responsibilities such as developing market strategies, pricing decisions, marketing research, and brand image creation. It delves into the importance of monitoring the marketing process and conducting a PESTLE analysis, highlighting political and economic factors influencing the cosmetic industry. The essay also examines the roles and responsibilities of marketing in both B2B and B2C contexts, emphasizing the preparation of effective marketing information systems and current trends in marketing. Furthermore, it discusses the significance of interrelations between marketing and other functional areas like finance, human resources, and IT, underscoring how these relationships enhance problem-solving, create a healthy environment, improve flexibility, and lead to improved customer services. The essay concludes by referencing relevant sources in the field of marketing.

Marketing essential

INTRODUCTION
Marketing is a procedure which helps in development of relations with
future customers. This incorporates advertising, selling and
promotion and at last delivering the products to the customers or any
other entity. It is a continuous procedure which involves
communication between customers and company so that to persuade
them and make them buy the products or services which are offered
by the company.

Marketing
Marketing is denoted as a process
of business which includes
selling and promotion of the
goods or service to their
potential customers and
involves research of market
and numerous promotional
tools.

Key responsibilities of marketing
function
The management of marketing is described as the procedure of planning
and implementing different concepts of marketing. The
responsibilities of marketing can be described as under:
Development of Market strategies: The foremost responsibility of
marketing function is to establish marketing strategies so that plans
can be prepared as accordingly.

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Decision about predictive prices: The marketing function includes
decision about prices which are to be kept by Burberry for their
future products in the market. For this they are required to analyse
their competitors like M&S and ZARA so that prices can be set as
according to prices of rival to give them tough competition.

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Marketing research: Research is known as the most essential element
of marketing function. Research inculcates communication with the
customers so that the best possible outcomes can be taken out by
Burberry with reference to product, place and promotion and the most
suitable product can be delivered to the customer.

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Creation of Brand Image: The customers prefers the brands which try
to add continuous value and innovations to their product and services.
Monitoring marketing process: The business is required to monitor the
marketing process as there are four steps of marketing process so
Burberry is supposed to track their marketing processes to deal with
market fluctuations.

PESTLE Analysis
Political factors : They are required to make organic perfume
with all those ingredient which are not banned and generally
accepted by the government so that to stay adhere to the legal
laws. By this burberry will able to capture more market with
increased goodwill.
Economical factors: Financial perspective of cosmetic industry is
very good as people are investing in these products a lot so this
create opportunity the company to grow.

Roles and responsibilities of marketing
in context of marketing environment
Monitoring of marketing environment: Marketing have significant
role in identifying major developments in the environment, so that
to guide product and services with references to those identified
development.
Market segmentation: Burberry is required to perform segmentation
so that customers can be bifurcated as per their wants and
preferences.

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Role of marketing in B2B context: The role of marketing in this
context it to driven the organisation into customer- driven
enterprise. In this organisation identify needs and wants of the
customers and design the product according to that.
Role of marketing in B2C context: The major role in this context is
to relate the customer with the business activities. The major focus
on this area is on product design and customer focus.

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Preparation of effective marketing
information system: An
information system which depicts
numerous information about
product, planning of marketing
strategies.

Marketing concepts
Current trends in marketing: Currently the
marketing is focused on using digital
technology in the marketing process which is
helpful in meeting needs of the customers better
than the competitors.