Marketing Essentials: Roles, Marketing Mix, and Plan for a New Product

This report provides a comprehensive overview of marketing essentials, beginning with an introduction to marketing concepts and the activities involved in promoting products and services to attract and retain customers. It explores the roles and responsibilities of marketing functions, emphasizing their importance in analyzing customer needs, offering better products, and adopting new marketing tools, particularly within the context of the Intercontinental Hotel Groups (IHG). The report then examines the interrelation of the marketing function with other departments, such as finance, R&D, and HR, highlighting the significance of these collaborations for achieving organizational goals. Furthermore, the report includes a comparative analysis of the marketing mix of two hospitality companies, followed by the development of a marketing plan for a new product, culminating in conclusions and references.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Roles and Responsibilities of Marketing..........................................................................1
P2 Interrelation of marketing function with different functional units..................................4
Task 2...............................................................................................................................................5
P3 Comparison of marketing mix between two hospitality companies ................................5
TASK 3............................................................................................................................................7
P4 Marketing plan of new product.........................................................................................7
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing refers to the actions that an organization use to promote a products or services
to attract more customers and retain existing one (WHAT IS MARKETING?. 2019). There are
various approaches of doing marketing through publicity, events or exhibitions, sales
promotions, word of mouth, personal selling, social media advertising. It is a continuous process
of communication with target customers in a manner that influence their way of thinking and
convincing them to buy products.
Intercontinental Hotel Groups in one of the leading British hospitality company situated
in Denham, England. Organisation owns diverse subsidiaries brands and has 5,795 hotels across
the international borders. Firm offers various tempting services which attracts and retain
consumers like reward club exclusive deals, featured hotel deals and diversified discount
schemes for each generation.
Moreover, this project report contains information regarding roles and responsibilities of
marketing functions and interrelations with other departments for smooth operations. Further,
this report includes framework of marketing mix in context with comparison of different
business entities. Lastly, covers the development of marketing plan with exclusive ideas.
TASK 1
P1 Roles and Responsibilities of Marketing.
Marketing refers to the promotional set of activities that helps an organization to reach
out its large target markets. Under these sort of programs company can able to promote its
product and services easily to its wide customers. It includes numerous activities like advertising,
selling and distribution of goods. This management function is mainly used to attract new
consumers and retain existing one (Baker and Magnini, 2016). With the help of these publicity
efforts firm can create its competitive edge and established its goodwill image in market.
Stronger the marketing plan, more powerful customer base will be.
Role Of Marketing: This function of organization plays an important role in order to
achieve organisation goals with more efficacy. In today's number of different large and small
organisation are competing within same market by providing better innovative products. As
result, organisation success if highly dependent upon its effective marketing efforts which makes
its product different and easily recognizable by customers. Through effective marketing
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strategies firm can able to develop innovative product and promote the same by attractive sales
presentation. This can be understood by following points:
1. ANALYSING CUSTOMER NEEDS: The basic role that a marketer play is study the
target market needs and demands before producing any product/services. It is a crux of
marketing function to determine the consumer's taste and preferences on basis of which
company can manufacture its goods accordingly. This helps in what type of promotional
strategies marketer can choose (Pike, 2015). In context with IHG, marketing analyst
firstly examine what kind of demands prevailing in market according to which manger
plan out what unique services can be offered to customers like ambience, food, and other
activities.
2. BETTER PRODUCT OFFERING: It is necessary for marketing manager to regularly
keep an eye on competitors moves as to offer separate product and services from its rival.
Companies spent lots of funds in promotional events or activities to sustain a powerful
brand image in mind of consumers. In case of IHG, Marketing team always tries to offers
its services differently unlike competitors. Recently, hotel group is providing facility of
reward club events where travellers or consumers have access of doing things that they
love, opportunity to earn and enjoy great benefits as they stay in any of these hotels
across 100 countries. By earning points customers can redeem the same at any time as
points never expires and can be used in free hotel stays, airline miles, car rentals to
merchandise etc. these extraordinary marketing services offering keep company isolated
from its rivals (Hassanien and Dale, 2019).
3. SEEKING NEW MARKETING TOOLS: The role of marketer is to remain constantly
upgraded about what new is coming in the marketing field. Marketing function consider
all new trends, strategies and digital method that have occurred during time span.
Sometimes, to preserve forceful campaign marketers collaborate with different marketing
partners like publishers, designers, digital sponsorships and more. In revolution of digital
age, it become easy for organizations to connect with and serve diverse customers across
the globe at one click. Currently sales and marketing team of IHG introduces LinkedIn
Sales Navigator this helps firm in targeting new accounts and pushed IHG to create
strong social selling. This unique tool is user-friendly and helps in identify and attracts
new potential contacts. IHG is a global company having nine hotel subsidiary brands and
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generated direct access to each brand's website from online portal within one second at
ease.
Responsibilities of Marketing function
 Marketing department is responsible for innovating trendy ideas all time in order keep
surprising customers through providing different services everyday. This function must
work on peculiar promotional and customer retention techniques, enhancement of
communication with remarkable messages or dialogues. Moreover, this function is accountable for planning out most cost-effective strategic
marketing plan from diverse alternative after examine pros and cons of each alternate.
Marketer require to set out the objectives that to be achieved on bases of which strategy
can be made and communicate the same with rest of the company members (Gursoy,
2018).
Roles and Responsibilities of Marketing in context with marketing environment
 In wide diverse environment, organisation needs to find out potential target customers
segments for which the marketing manager performs various activities to promote its
goods or services. Market segmentation is a process of dividing market in different
groups according to characteristics. In context with IHG, company target upper class
people who are able to afford or pay lavish hotels because their most of brand offers
luxury services.
 Marketing manager required to maintain brand equity of the company in certain industry
for adding value to its products or services. This role helps in building loyalty of
customers as well as creating strong reputation and goodwill image which helps in setting
benchmark for other competitors. In case of IHG, company is enjoying its successful
brand repo all around the globe for its unique customer services and distinct portfolio of
intercontinental products with exclusive prices (Dinçer and Alrawadieh, 2017).
 Marketing environment is dynamic in nature as there are various external sources which
influence the functioning and strategies of marketing. Organisation have no control over
these forces as changes occur frequently. There are different forces such as political,
economical, social and technological which required to consider by marketer while
formulating strategies.
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1. Social: Socio cultural factors are related to taste, preferences, changing requirements of
customer base. These changes are occurred due to beliefs, values and attitude. Marketer
required to conduct research and development programs in order to determine
requirements of customers on basis of which company can modify its product feature and
design new products to satisfy certain demands.
2. Technological: these factors are related with technology as new techniques and methods
are emerged everyday in market. Marketer required to promote organisational products
and services through updated technology which enable firm to reach out large customer
base and organise promotional activities efficiently.
P2 Interrelation of marketing function with different functional units.
Marketing is one of the core component of organization. To be successful and sustain
competitive edge company requires to cultivate a powerful alliance of marketing with other
following functions. Further, it helps in increase the cost effectiveness level with high degree of
efficiency. Marketing manager required to create cordial relationships with other department for
fast decision making. Some of interrelated functions are discussed below:
1. Marketing and Finance: These functions required work together as both are incomplete
without each other. Finance department performs activities like creating budgets for
various projects and ensures that appropriate amount of funds are available to meet out
company's demands while marketing section handle all promotional activities carried out
in market. The combo of these to are interrelated as for conducting marketing operations
and events marketer needs funds for which they have to do discussion with finance
manager for sanction accurate budget for same.
2. Marketing and R&D: The basic motive marketing function is selling and promoting
firm's goods/services for which market research is being done. R&D section determine
the prevailing conditions and factors that affects business decisions and work for
improvising existing and developing trendy products/services. Both needs to work out
together as marketer require accurate research data about emerging fashion trends for
choosing best marketing strategy. Marketing supervisor will collaborate with R&D
manager to make use of resources and information effectively and efficiently(Okumus
and Cetin, 2018).
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3. Marketing and HR: HR department is responsible for recruiting, selecting, organizing
different training development programs to fill out the vacant positions within entire
organization. The pair of two is connected because for performing different promotional
activities marketing department required number of skilled staff who can communicate
regarding products and services to target customers.
Importance of Interrelation of Marketing with other functions.
Interrelated functions is significant for increasing the productive and profitable outputs of
organisation. It preserves high coordination between departments so that minimization of
wastage of time and resources can be fulfilled. It brings specialization and increases the
operational speed of firm in order to achieve ultimate organizational goals. It helps in reducing
the burden of performing task of each department cause everyone cooperate with each other that
also enhance the decision making process (Kotoua and Ilkan, 2017).
Evaluation of key elements of marketing function and its interrelation with others
There are numerous elements exist in marketing function which include various “P's”
such as product, price, place, promotion, people, process and physical evidence. Combination of
all these elements are helpful in accomplishment of organisation mission objectives. Although
these components are somehow interrelated with different marketing functions. In case of
intercontinental, for establishing prices for its products or services company required to research
about competitor's pricing strategies and customer's perception regarding how much they are
willing to pay for particular services. All these research program are related with R&D
department. Moreover, an effective functioning of marketing programs are highly depended on
efficient financial resources of organisation. As much as there are successful promotional events
are organised by marketing team in different areas then in turn it lead to higher profits and
overall productivity of firm.
MARKETING PROCESS IN CONTEXT WITH IHG
1. Situation Analysis: One of the main step in process for IHG marketer is to examine and
determine the conditions in which firm is going to serve its services and also identify the
opportunities to entertain unsatisfied demands of consumers. Also, company needs to
understand the environmental surroundings in which its functions are operating with help
of different framework like PESTLE, SWOT, 5 C Analysis.
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2. Marketing Strategy: Secondly, This step helps IHG marketer to establish that strategic
plan which is cost effective and can able to accomplish the opportunities that is
developed in previous stage. This includes segmentation, targeting, positioning.
3. Marketing Mix Decisions: This phase is crucial and act as a core element of marketing
function. At this stage, IHG marketing team will perform various tactical decisions
regarding product development, pricing, promotion, distribution of product/services. All
these items are come under parameters of marketing mix.
4. Implementation and Control: Lastly, after developing the marketing plan then it is
important for the IHG marketer to implement the final plan and keep watching over the
results in order to ensures the proper execution of plan according to specified standards
and control changes (Chandiok and Sharma, 2017).
Task 2
P3 Comparison of marketing mix between two hospitality companies
Marketing mix is a framework which define the focus points which need to be considered
while developing a comprehensive marketing plan. Marketing mix of different companies are
different even if the industry is same. It comprises of 7Ps which are product, price, place,
promotion, process, people and physical evidence. The table below demonstrate a comparison
between all marketing mix of Intercontinental Hotel and Hilton group of hotels (Pappas, 2015).
Basis Intercontinental Hotels Hilton Group of hotels
Product This company provides
accommodation in the form of hotel
and resort to local and foreign
tourist. It unique selling proposition
is its unique design of hotels and
resort. Organisation utilize product
differentiation strategy.
Intercontinental hotels render lots of
varieties to choose from. Quality of
its products are better than those of
rivals due to which customers are
Hilton group of hotels also deals in
hotels and resort. It provides hotels
for all purposes like business
meetings, seminar, conference,
parties and so on. It provides all
amenities like swimming pool,
lounge, restaurant, gift shops and
retail store. Hilton hotel of London
render perfect environment for
conducting business meeting and
functions.
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glad to pay higher prices.
Intercontinental hotel of London
provide customize accommodation
for business man and common
people.
Price It uses market penetration strategy to
capture larger market share. Its
prices are comparatively lower than
its competitors. It also facilitates the
customizable pricing option in which
company charge fixed price for basic
product and than charge different
prices for related accessories.
It has create positioning of
premium hotels therefore price of
hotel is high. Hilton group adopted
premium pricing strategy. Hilton
group targets elite class of London
mainly business executive. There is
wide range of prices charge by
Hilton depending upon the
amenities available in the room.
Place It provides facility of online booking
of rooms through websites as well as
offline through 500 retailers all over
the country. Intercontinental Group
sell its licence to wholesalers who
further sell off to retailer. Retailers
sells services to final consumers in
London.
Hilton group cater its services in 84
countries all over the world. It
usually establishes hotels near
airports and beaches. Hilton covers
103 countries throughout the world.
It owns 5100 properties worldwide.
Promotion Intercontinental group uses
traditional marketing media such as
television and radio as well as
modern media such as website and
social media platform to attract
customers of London.
Intercontinental Group mainly use
Facebook, YouTube and Twitter in
Hilton Group promote their product
in unique ways. It render exclusive
membership to the customers. It
traces the outcomes of strategy.
Company advertises their services
through premium magazines.
Company mainly targets rich
businessmen that's why firm has
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order to promote its hospitality
services. It select these three social
media platform because of their
large number of users.
been tied up with commercial
enterprises, MNCs and institution.
Process Intercontinental hotel of London
assure that its goods are always
accessible. Group set up a software
which notify suppliers about lack of
stock.
Reliable processes and retained
supply chain management are the
key features due to which hotels in
London maintained the status of
market leader in the industry.
People Intercontinental focuses on best
training to employees in every
department. Employees of IHG
hotels in London are well trained in
convincing and helping customers.
Hilton hotel London target mainly
businesses executives. Hence to
attract them hotel chain refines their
services and maintains competent
staff.
Physical Evidence Intercontinental hotel group sells
brochure of its service in unique
colour and design which are easily
recognizable in busy retail shelves.
Customer can see high quality 360
degree images of rooms on
company's website.
Hilton hotel group has been
collaborated with many hotel chains
and online travel agency in order to
make its physical evidence more
broader. It is the leader in the
exclusive hospitality marketplace.
From the above comparison of marketing between two hotel chain companies. It has been
concluded that different firms have different 7Ps of marketing mix. The biggest difference
between these two organisations are that one provides service in low price another in premium
price. There is also similarity in process of both firms. Both companies focuses on best training
to employees. Intercontinental target common people while Hilton Group prefers business class.
Hence both companies are successful in achieving their objectives (Neuninger, 2017).
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TASK 3
P4 Marketing plan of new product
Marketing Plan is a functional report which contains the blueprint of all marketing
strategies that company will implement to make its new product successful. An elementary
marketing plan gives an insight about objective of marketing, advertising and promotional
activities for business. Before developing new product marketing plan company also requires to
evaluate is present marketing position. Company have to set a deadline within which task of a
particular strategy should be finished. Company have to identify and track key performance
indicators like number of sales, conversion rate and so on (Eletxigerra, Barrutia, and Echebarria,
2018) .
Marketing plan of Intercontinental Group of Hotels
Company Overview
Intercontinental Hotel Group is a British company deals in hospitality services. It was
founded in 15th April 2003. It is a chain of hotels dispersed all over the world. It provides lodging
in full service hotels and resorts in competitive prices.
Mission
Aim of IHG is to render good quality hospitality services.
Vision
Vision of IHG is to become one of the most adorable hospitality companies by winning
hearts of customers.
Marketing Mix of Floating Hotels
Product: Floating hotels will be large ship in which IHG will provide lodging services to
travellers. Room in this floating hotel will be of unique design and there will also one transparent
underwater room that will provide three sixty degree view of ocean (Liat and et. al., 2017).
Price: As floating hotel is a category of luxury hotels therefore company will charge
premium price from customers. Price will be not less than ninety thousand. Floating hotel will
affordable by only super rich people.
Place: Floating hotel will be in the Celtic sea near Cornwall city of England. Customer
can book rooms online through company's website and offline through big retailers. IHG will sell
license to sell tickets directly to particular retailer.
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