Marketing Essentials Report: Marketing Functions, Mix and Plan

Verified

Added on  2023/01/19

|19
|5604
|57
Report
AI Summary
This report delves into the core aspects of marketing, focusing on the roles and responsibilities of marketing functions, the interrelationship between marketing and other departments, and the application of marketing mix strategies. It uses Bentley Motors Limited as a case study to illustrate these concepts, examining its marketing functions, including satisfying customer needs, market research, and branding. The report further explores the interdependencies between the marketing department and other key departments such as finance, human resources, production, and IT, highlighting how these collaborations contribute to achieving organizational goals. A comparative analysis of marketing mix strategies is conducted between Bentley Motors Limited and Mercedes Benz, two prominent players in the luxury automotive market. Finally, the report culminates in the development of a marketing plan, providing a comprehensive overview of how marketing strategies can be formulated and implemented to achieve business objectives.
Document Page
Marketing Essentials
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Roles and responsibilities of marketing function..............................................................3
M1...........................................................................................................................................5
P2 Interrelationship between marketing with other departments...........................................5
TASK 2 ...........................................................................................................................................7
P3 Comparisons among two organisation marketing mix......................................................7
TASK 3 .........................................................................................................................................13
P4 Develop a marketing plan...............................................................................................13
CONCLUSION .............................................................................................................................16
REFERENCES..............................................................................................................................17
Document Page
INTRODUCTION
Marketing is a process or activity where customer and seller meet together with an aim of
satisfying the need or demand in a effective and efficient manner. Along with this, this aspect is
important for organisation as it enable them to generate long lasting relationship as well as
acquires best position within the competing marketplace. Additionally, it contains several roles
and responsibilities which help superior to promote the brand and also empower them to attract
wide range of population towards the brand in a better way (ALHAKIMI and QASEM, 2014).
Apart form this, within a business premises there are different functional unit and each of them
contain unique set of roles and responsibilities that lead them to attain improved level of
profitability ratio. In addition to this, marketing mix is considered as one of the integral phase
which assist enterprise to deliver best quality of products by imposing affordable price and
placing the same at proper place in order to gain competitive advantage in a productive style. In
relation to this report, Bentley Motors Limited has been considered which is a leading and
reputed manufacturer and marketer of luxury cars and SUVs as well as subsidiary of
Volkswagen Group. It is founded in the year of 1919 and headquartered at England, UK. In this
study, it includes roles and responsibilities of marketing functions and demonstrate the
relationship between marketing and other units of an establishment. Moreover, comparing two
company's marketing mix as well as produce marketing plan help organisation to enlarge its
market share or size in a amended way.
TASK 1
P1 Roles and responsibilities of marketing function
Marketing function is regarded as a role in which an organisation takes an initiative in
determining the customer need and based on that take corrective course of action by allocating
the proper resources. This is because, it enable an establishment to fulfil the requirements of
consumers and also can promote the product in order to attain sustainable profitability ratio in an
innovative and creative way. However, in context of Bentley Motors Limited, its marketing
function contains various set of roles and responsibilities that empower it to place its brand in a
better position and also to enhance the overall productivity. Some of roles and responsibilities
are discussed below:
Document Page
Roles
Satisfying customer needs: This concept is considered as an important element for an
establishment as it enable it to strengthen its sales performance and also can enrich brand value
in an improved manner. Therefore, for example, Bentley Motors Limited, its manager makes an
attempt in examining the existing market trend or demands and accordingly differentiate the
product in order to survive within competitive business environment. On the other hand, poor
quality of products and services may lead an organisation to face several difficulties like less
brand value, decrease in productivity and many more.
Market research: In this phase, it is related with the term which enable organisation to
examine potential threat and opportunities in order to gain competitive advantage within
challenging environment. For example, Bentley Motors Limited, its superior takes an initiative
in evaluating the present market scenario and make use of all available growth possibilities that
help an establishment to enlarge its market share or size by adopting innovation and
advancement of technology within business operation (Ali and et.al., 2015).
Responsibilities
Branding: It is relate with an feature which is refer as an identification or representation
of a product or service at marketplace with an aim of attracting large number of population
towards brand. Thus, for example Bentley Motors, it makes an effort in analyse the market
condition and adopts brand strategy that lead them to target the market in a better way and also
can easily reach to wide range of population. Moreover, they are also assess with product
development, pricing, new product launch, communication or media action over all channels of
distributions and so on. Therefore, proper and suitable action empower Bentley Motors to
enlarge its sales growth and also can obtain profit margin ratio.
Maintaining relationship: This term is regarded as an essential element as it directly
link with creating a positive response in the mindset of customer towards product. For example,
if Bentley Motors makes an effort to deliver the product as per consumer taste and preference
that empower them to develop long lasting network and it benefit firm by placing the brand in a
competitive position.
MARKETING Concepts
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
There are various types of marketing concepts which help company to acquire best
position within competing and challenging industry as it help them to determine customer trend
or marketplace scenario in an improved way. Some of the concepts of marketing which Bentley
Motors implies within its business premises are as follows:
The Production Concept: This concept is mainly grounded with production,
manufacturing, and efficiency aspects of particular product or services. Therfore, Bentley Motors
maintain mass production that lead them to decrease their cost and maximise profits. Moreover,
it enable its customers to attain high level of affordable and accessible.
The Sales Concept: IN this, it is relate with sale of a specified product regardless of
product quality and satisfaction of customer. Thus, Bentley Motors acquire innovative selling
techniques which lead them to reach wide range of population in an innovative style.
The marketing Concept: It is concern with placing the customer at the centre position as
Bentley Motors identify the need of consumers and take suitable strategy which lead them to
expand their product in an improved way.
The Societal Marketing Concept: Under this, Bentley Motors build social and ethical
consideration which lead them to render effective and best quality of product among competitors.
The Product Concept: Under this, Bentley Motors implies better qulaity and affordable
price for its products which help them to place their brand in a competitive and aggressive
position in a desired time frame.
M1
Marketing have different roles and responsibilities which will be beneficial for an
organisation. Marketing strategies, marketing information system, monitoring of marketing
environment, marketing research, market segmentation and brand equality are consider major
roles and responsibility of marketing in context to marketing environment. These responsibilities
of marketing helps an organisation by increasing its sales volume, promoting its goods and
services, improving brand image etc. Therefore, marketing is more beneficial process for success
and growth of an organisation in marketplace. It will further support an enterprise by improving
its market reputation and goodwill. Along with this, marketing research plays a major role as it
help company to provide accurate information about the goods and services to targeted group of
customers.
Document Page
P2 Interrelationship between marketing with other departments
There are several divisions working for the betterment of an organisation by performing
different but important roles using taking support from each other. These departments include
marketing, finance, human resource, production etc. Working together with different
departments maximises the possibilities of achieving desired goals and objectives within pre-
determined time period (Chatterjee and Gupta, Chopra, 2017). Here are such interrelationships
between various departments along with their contribution towards achievement of
organisational goals and objectives:
Marketing department and finance departments: Marketing is performing duty of
promoting products and services offered by Bentley Motors Limited with an aim of attracting
buying behaviour of targeted customers. Whereas finance department is responsible to arrange
funds from different sources such as banks for the purpose of allocation to other divisions as per
their needs and requirements. Marketing division uses various marketing tools such as TV
Advertisement etc. which requires huge amount of funds thus requires support from finance
division. On the other hand, finance division gets support from marketing division in terms of
getting investors by promoting businesses. This interrelationship increases the possibilities of
achieving organisational goals and objectives. For example, Bentley Motors acquires enough
funds from finance division so that they can easily target the customer as well as market and can
gin comparative advantage.
Marketing department and human resource department: Human resource department
is responsible to recruit and select best candidate at right time at right place so that an
organisation can filled its workforce with skilled and knowledgeable employees. To perform its
roles and responsibilities in an effective manner, HR manager requires support from marketing
division which advertise vacant job position using different tools such as newspapers, pamphlets,
digital platform etc. This will bring maximum positive result to an organisation in context of
their profitability and sustainability. For example, Bentley Motor makes an effort to hire highly
skilled and talented personnel in order to enlarge their productivity ratio. Therefore in such case,
they obtain support from marketing section by providing appropriate advertisements on
newspaper, conducting job fare, online platform and etc. With the help of this, Bentley Motors
can increase their overall performance in a amended way.
Document Page
Marketing departments and production department: The needs and preferences of
customers changes frequently which need to identified and evaluated by an organisation in order
to achieve long term sustainability in competitive market. Marketing department is responsible to
conduct market research on timely basis in order to identify the actual needs and requirements of
targeted customers. This will support production department of Bentley Motors Limited to
produce demanded products with additional features needed by their targeted customers by
communicating suppliers to provide them raw materials on time. This interrelationship facilitate
an organisation to achieve its desired goals and objectives within pre-determined time period
(Erragcha and Romdhane, 2014).
Marketing department and IT department: Marketing performs various functions such
as market research, using of marketing techniques such as TV Advertisement etc. This requires
an organisation to record all expenses so that revenue can be matched in future in comparison of
expenses. For this, IT department provide support by using various IT system such as MIS so
that every expenses will be recorded at one place and allow finance department to allocate funds
to marketing division accordingly. For example, Bentley Motors Limited marketing function
acquire help from IT division in maintaining their important data in a safe place. Due to which
Bentley Motors can enhance its financial position in existing market.
M2 Significance of interrelation among various teams
It is essential for every department to work with each other towards achievement of
organisational goals and objectives within pre-determined time frame. This will increase better
relations among managers of different department which indirectly makes positive impact on
working environment of Bentley Motors Limited. Along with this, communication between
different division will be more strong which makes easy for an organisation to communicate
their vision, mission and objectives in understandable way. Interrelationship between different
departments will also beneficial for Bentley Motors Limited in development of its growth and
success at marketplace as well as in customer's mind. Interrelationship will also support an
enterprise to retain employees for long time and also maintain strong relationship with
customers. Thus, better relationship among all departments are consider effective growth and
success of an organisation in market.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
TASK 2
P3 Comparisons among two organisation marketing mix
Marketing mix is a part of marketing plan and also it is refer as a strategy which an
organisation utilises to formulate a product or service offering for its customers in a productive
manner. Along with this, it is combination of several elements like product, price, place,
promotion and many more that empower firm to deliver the right product at correct price at the
right place with appropriate promotion tactics for obtaining maximisation of profit in a
prescribed time period. In regard of this project, Bentley Motors Limited is taken which is a
leading firm in manufacturing and engineering industry and its main aim is to become the
successful and sustainable car manufacturer as well as luxury car maker within existing
marketplace (Festa and et.al., 2016). However, one of its main competitor is Mercedes Benz,
which is also a global automotive manufacturer of luxury vehicles, cars, buses, coaches and
trucks. The business objective of Bentley Motors is to enhance the volume of sales by 20% in
upcoming year. Hence, comparison among these companies marketing mix help business to
place its brand in a better position and also can obtain sustainable profitability which is explained
below:
Particulars Bentley Motors Limited Mercedes Benz
Product In marketing mix, it is
considered as one of the initial
phase as it is link with those
element which consumers use
to satisfy their needs or
demands in an amended mode.
In case of Bentley Motors
Limited, it is known as one of
the leading premium car brand
which perform its operation
across the globe. Moreover, it
offers wide range of products
On the other hand, among the
premises of Mercedes Benz,
the aspect of product also
plays a vital role as it assist it
to improve its sales
performance by acquiring
attention of wide range of
population towards their
brand. Furthermore, it also
termed as a reputed premium
car brand in the world. But, in
compare to Bentley Motors it
Document Page
like continental flying spur,
Bentayga, Mulsanne,
Continental GT in a best and
high quality which help them
to attract wide range of
customers toward their brand
without any hindrances. Apart
from this, Bentley also come
under different variety like
convertible, coupé, sedan and
SUV products within current
marketplace. (Finne and
Grönroos, 2017).
has a wide range of products
as it offer passenger cars, light
commercial and heavy
equipments vehicles in a high
quality. Additionally, the
foremost reason behind
Mercedes Benz growth is that
it always takes an initiative to
determine the market trend or
demand and based on that it
acquire innovative technology
which drive it to enhance its
sales growth and profitability
ratio in a competitive industry.
Place This determinant is also refer
as distribution which
determines how a product
reaches to its targeted
customer in a finer manner. In
relation to Bentley Motors, it
has build a franchise network
for delivering its product and
services across the globe
(Bentley Marketing Mix (4Ps)
Strategy, 2019). Moreover, its
majority of the production take
place in Crewe factory in UK
and it sells its brand to USA,
Canada, UAE, Japan, Australia
as well as its 12 car model are
also available in India. Hence,
For instance, Mercedes Benz
also contains impressive
placing strategy which help it
to obtain improved degree of
proficiency ratio in a
competitive industry. In
addition to this, Mercedes
caters to a large number of
countries across the globe
with its dealership and service
stations at different part of the
world. It operate its major
functions at Asia, China,
Europe, Germany, North
America etc. Apart from this,
it has established its own
factories and plants across the
Document Page
to accomplish sustainable
growth, it place its brand in
China where it gains huge
enrichment in luxury car
division. Additionally, it also
takes an effort to enter into
emerging market in different
parts of the world which
render them more opportunity
for enlarging its market share
and size in a trenchant way.
world which give more
convenient to clients,
suppliers and customers to
consume products as well as
in adopting any sort of
modification in existing
products or services. With the
help of this, firm is able to
capture the attention of large
number of individuals towards
its product in an innovative
style (Foxall, 2014).
Price Under this element, it
signifies the value which
company receives in exchange
of their products and services.
Hence, pricing is mainly
determined by the cost of the
product and also how much
consumers are willing to pay
for fulfilling their need. In
context of Bentley Motors, it
mainly deals in delivering ultra
high end luxurious car by
targeting rich sections of the
community. Due to this, it has
been identified that Bentley
Motors uses high pricing
strategy as its most of the
product's price is much higher
than the cost of normal cars.
On the contrary, Mercedes
Benz is known as a premium
priced luxury car brand.
However, for sustaining
within competitive
marketplace, it adopts niche
segments in its functional
process as they prefer quality
more than price. Furthermore,
Mercedes Benz applies
premium pricing strategy
which states that its product's
price is higher than other
brand as it mainly target richer
section of the society.
Henceforth, due to its
impressive degree of quality,
it help Mercedes Benz to cope
with all existing and
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Additionally, the strategy
which leads it to retain the
attention of present customers
and also to attract more new
consumers towards brand is
that it render the facility to its
targeted population to give
their idea, suggestion and
views in manufacturing a
particular car model. With the
help of this, firm is able to
enlarge its market share or
growth in a productive style.
Another thing about Bentley
Motors is that it never
compromise its quality for the
sake of price which aid
company to place a positive
image among customers and it
benefits it in increase in
volume of sales among
competitors (Išoraitė, 2016).
upcoming competition and
threat in an innovative and
productive style.
Promotion It is the strategy which enable
an organisation to gain
competitive advantage and
also to reach large number of
population in an improved
way. In regard of Bentley
Motors, it believes more in
ethical marketing rather than
extravagant marketing tactics.
For instance, Mercedes Benz
is regarded as aggressive
promoter among different
competitors. The promotional
marketing strategy which
Mercedes Benz implies in its
functional area is optimal
utilisation of all media
channels like TV, online,
Document Page
Therefore, its major source of
promoting product is making
use of advertisement on both
TV and internet as well as
campaigning. Additionally, it
also utilises some engineering
marketing techniques which
assist its to make its brand
visible at international scale in
an prompt way.
billboards, social media
platforms, print and many
more. Along with this,
Mercedes generate brand
awareness by organising
different customer centric
activities like Mercedes
trophy, Luxe drive,
international driving platforms
and etc. that render enormous
opportunities for firm to
enrich its sales performance
and productivity in a
stipulated period of time.
Physical evidence Under this concept, it is relate
with those component which
encompasses interior ambiance
of a company for capturing the
attention of population in an
improved manner. Therefore,
Bentley Motors maintains its
entire workplace in a creative
and impressive style as it uses
all latest technology and
equipments for carrying their
working process. Due to this,
company is able to strengthen
its overall performance in a
trenchant mode.
Moreover, in case of
Mercedes Benz, being a
premium and leading brand in
manufacturing industry, it
always impose advanced
model of equipments and tools
for its manufacturing process
that help them to gain
increased level of employee
satisfaction and also lead it to
give better service to
customers. Along with this, it
adopts impressive interior
designs which create huge
positive impact over
consumers and clients that
reflects in improvement in
chevron_up_icon
1 out of 19
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]