The Impact of Marketing Process on Stakeholders and Value Creation

This essay provides a detailed analysis of the marketing process and its impact on organizations, stakeholders, and value creation. It examines the key steps of the marketing process, including situation analysis, strategy development, marketing mix decisions, and implementation. The essay highlights the importance of marketing tasks and objectives and their relationship to the overall marketing process. It further explores how the marketing process influences an organization's ability to create value for its stakeholders, emphasizing the significance of stakeholder engagement and the development of transparent systems. The analysis underscores the role of marketing in building relationships, facilitating transactions, and achieving organizational missions and objectives, ultimately contributing to the creation and delivery of value to stakeholders.

Running head: IMPACT OF MARKETING PROCESS
IMPACT OF MARKETING PROCESS
Name of the Student
Name of the University
Author Note

1IMPACT OF MARKETING PROCESS
Introduction
Marketing process is considered to be a method which is used for the purpose of
analysing different opportunities which are present within the market. The selection of proper
target markets, managing the marketing based efforts and developing the marketing mix are
considered to bed important factors which are able to affect the marketing process. The
customers who are a part of the marketing process need to be satisfied with the help of
different activities which are performed within the process (A. Griffith et al. 2014). The
organization thereby needs to find ways in order to fulfil the needs of customers and bring
such products to the market which are effective for them. The process of satisfying the needs
of consumers is thereby divided within four major steps which include, situation analysis,
marketing strategy, marketing mix based decisions and control and implementation
(Aghazadeh 2015).
The essay will be based on the analysis of the ways by which marketing process is
able to affect the operations of an organization. The effect of proper marketing based
processes on the different stakeholders of the company will be analysed in the essay.
Importance of “marketing process”
As discussed by Armstrong et al. (2014), marketing process plays a key role in the
ways by which organizations are able to satisfy the customers by fulfilling their needs in an
effective manner. The different parts of the marketing based process which have been
mentioned earlier including situation analysis, marketing strategy, decisions related to
marketing mix and control and implementation based process are able to affect the operating
processes of modern organizations.
The first major step of the marketing process is situation analysis which is used for
analysing the market situation in which the organization operates. The process of situation
analysis is thereby based on the internal as well as the external environment of the firm. The
different aspects of situation analysis are based on the past, present and the future operations
of the firm. The external environment is described as the macro environmental factors and the
internal environment is considered to be a part of the micro environment based factors (Baker
and Saren 2016). The situational analysis is thereby able to depict the gaps which exist
between the wants of consumers and the products which are being offered to them. The major

2IMPACT OF MARKETING PROCESS
frameworks which are used for the purpose of situational analysis include, 5C analysis, PEST
analysis and SWOT analysis (Baker 2014).
The second step of marketing process is based on the development of marketing
strategy based on the analysis of situation which has been made earlier. Marketing strategy is
thereby based on the ways by which the organization aims at satisfying the customers with the
help of their services or products. The research of the market will be able to provide specific
information to the company based on the target market. Marketing strategy further involves
different steps which include, segmentation, targeting, positioning and value proposition for
the target market (Bourne 2016).
Third step of marketing process is based on the marketing mix related decisions which
are taken by the organization. Different parameters which are a part of the marketing mix
related activities of the organization thereby include, development of the products, pricing
based decisions, distribution based contracts and development of promotional campaigns
(Burns, Bush and Sinha 2014).
Fourth step of the marketing based process is related to control and implementation.
This is considered to be the last step of the marketing plan which is developed by the modern
organizations. The results related to the implementation of new marketing strategies need to
be controlled in an effective manner in order to ensure that the needs of consumers are
fulfilled (Cantrell, Kyriazis and Noble 2015).
Marketing process is thereby considered to be highly important for the organizations
which operate in the modern business environment. This process proves to be useful for the
fulfilment of customers and increasing the revenues of the organization as a whole.
Relationship of marketing process with marketing tasks and marketing objectives
According to Doh and Quigley (2014), marketing based tasks are performed at
different steps of the marketing process within the modern organizations. The marketing tasks
are sometimes seen as the ways by which the leads can be generated so that salespeople can
follow-up. This is however considered to be a short-term or short-sighted view which costs
huge amounts to the company and the management. Marketing tasks are thereby dependent on
different steps which are taken based on the expertise and skills of employees.

3IMPACT OF MARKETING PROCESS
First step is based on the generation of awareness among the consumers related to the
products which are offered to them. “Marketing task – Be There”. This step is based on the
ways by which the company is able to make itself known among the consumers, which
requires the company to be present effectively (Harrison, Freeman and Abreu 2015).
Second step is based on the stimulation of interest related to services and products.
“Marketing task – Be Relevant”. This step is based on the relevance of the products with the
consumers who are a part of the target market.
Third step is based on surviving the evaluation process. “Marketing task – Be
Proven”. The analysis of buying criteria by the consumers is a part of this step. The
consumers thereby try to evaluate that whether the organization is able to provide the products
according to the needs of consumers (Jones, Wicks and Freeman 2017).
Fourth step is based on enabling the trial. “Marketing task – Be Helpful”. This step is
based on the ways by which consumers are satisfied by the products which are offered to
them. The consumers thereby try to evaluate the effects of buying the products from the
company.
Fifth step is based in securing adoption. “Marketing task – Be Friendly”. This step is
based on the ways by which the management of the organization becomes friendly with the
customers. The products which are offered to them by the organization thereby will be
preferred by the consumers in this case (Lagat and Frankwick 2017).
Sixth step is based on encouraging the levels of loyalty within the organization.
“Marketing task – Be Consistent”. The company needs to aim at maintaining the services
which are offered to the consumers. This will be helpful in increasing their levels of loyalty
towards the company (Londhe 2014).
The six major steps of marketing tasks are related to the entire marketing based
process. The marketing process has been analysed earlier in the essay and is considered to
have a major relationship with the marketing based tasks. The tasks which are performed by
the organization are related in an effective manner with the entire marketing based process.
The different parts of the marketing process including the situational analysis, setting up of
marketing strategies, development of marketing mix and implementation and control of the
processes. Different steps of the marketing process are thereby affected by the ways by which
marketing tasks are performed (McDonald and Wilson 2016).

4IMPACT OF MARKETING PROCESS
As discussed by McDONALD (2016), the marketing objectives are considered to be
the goals which are set by an organization while promoting different services and products to
the potential customers which need to be achieved within a time period. Marketing objectives
can also be termed as the marketing strategy which has been set for the purpose of achieving
different organizational objectives. The marketing based process is based on the development
of effective marketing objectives which are developed by the organization. Development of
marketing objectives is considered to be a major part of the entire marketing process which is
conducted within the organizations.
As argued by Menon et al. (2015), marketing objectives are mainly developed by the
organizations after completion of the situational analysis. The organization forms the
marketing objectives and strategies in such a manner which is helpful in fulfilling the needs
and demands of the consumers. The objectives related to marketing are thereby developed
based on the timeline which has been provided to the company in order to reach the goals.
The time which is taken by the employees to achieve the objectives plays an important role in
the entire marketing based process. The marketing based objectives are thereby related in a
huge manner to the marketing process of the modern organizations.
Marketing tasks and marketing objectives are related to the marketing process related
activities. The marketing process consists of the ways by which marketing tasks are
performed within the organization and the objectives which have been set by the management
as well.
Effect on the ability of the organization to create value for stakeholders
According to Öztamur and Karakadılar (2014), marketing process is considered to
have a major effect on the ways by which the organization is able to engage the stakeholders
within different processes. Marketing thereby has a deep potential and purpose which is not
recognized by the management always. The marketing process is considered to be an
important factor which is able to affect different stakeholders of modern organizations.
Stakeholder engagement based marketing process is thereby considered to be an important
factor which has high potential to provide value to the stakeholder. The business environment
which has been developed in the modern times is highly crowded and complex in nature.
As argued by Siadat et al. (2014), the development of transparent systems for the
purpose of fulfilling the needs of stakeholders and further increasing their value is considered

5IMPACT OF MARKETING PROCESS
to be a major factor which is able to affect the stakeholder engagement based activities. The
process of stakeholder engagement is helpful in establishing trust related relationships with
the vendors. Customers, stakeholders and employees. The stakeholders are further able to
enhance levels of sustainability and resilience of the business. The other functions of the
business are able to contribute to the success of an organization. However, the marketing
functions are able to affect stakeholders and the value which is provided to them as well.
According to Solberg (2017), marketing process of the modern organizations is based
on the levels of communication and development of sustainable relationships as well.
Marketing further includes the process of facilitating the transactions within the organization.
The process of stakeholder engagement based marketing is able to provide a process which is
helpful for advancing towards the mission of the organization and further addressing different
objectives as well. Marketing process thereby contains different types of activities which are
related to the method of engaging the stakeholders of the organization.
As discussed by Wensley (2016), the process of marketing can be highly manipulative
in nature and is able to serve deep purpose of the business. The customers can be considered
to be the major stakeholders of the organizations. Modern organizations thereby design the
organizational processes in such a manner which will be helpful in the ways by which
objectives can be achieved. The marketing process thereby includes both the objectives
related to marketing and the marketing tasks as well. The stakeholders can be managed
effectively with the help of effective marketing strategies and objectives. The marketing
objectives are set in order to achieve the goals which are set by the management.
According to Solberg (2017), the analysis of external situation plays an important role
in the effective development of the strategies and objectives of the organization as well. The
organization is thereby able to develop effective and collaborative relationships with the
stakeholders with the help of appropriate objectives. Creating value for the stakeholders is
considered to be an important part of the operations of the global and modern organizations.
The operations of modern organizations begin effectively with the help of proper value
creation. The major purpose of the organization is thereby to create and further deliver value
in order to generate high levels of profit. Value creation for the stakeholders can thereby be
considered to be fundamental or basic concept related to the development of the business.
According to Öztamur and Karakadılar (2014), value can be created by the
organization for different stakeholders with the help of the services and products which are

6IMPACT OF MARKETING PROCESS
offered to them. The satisfaction levels of customers are considered to be highly important for
the ways by which value is created. The organizations can implement different types of
activities in order to create value for the stakeholders. The marketing activities are considered
to be the most important part of the processes which have been implemented in order to
develop value for the stakeholders. The development of value by offering effective products
to the customers is considered to be path to the success of the organization. The development
of value is based on the ways by which an organization is able to develop an advantage in the
industry as compared to the competitors.
As discussed by McDONALD (2016), the value chain which is developed by the
organization has included the marketing and sales based activities. The marketing process
thereby includes different activities which are able to play a key role in the development of
value for the stakeholders. The stakeholders are able to play a key role in increasing the
revenues and levels of profitability of different organizations. The sales and marketing based
processes of the organization are considered to be important in the ways by which objectives
can be achieved. The organizations thereby need to implement the marketing process in such
a manner which will be helpful in creating value for the stakeholders.
According to Doh and Quigley (2014), marketing objectives are an important part of
the process of marketing which is developed by the management in order to achieve the goals
which have been set by the organization. The modern organizations thereby need to develop
the marketing based process in a way which will be able to reflect the marketing objectives
and the tasks are also performed in an effective manner. The value provided to stakeholders is
thereby considered to be the most important part of the marketing process and activities which
have been performed by the organizations.
Conclusion
The essay can be concluded by stating that the marketing process within an
organization is an important part of the organizational processes in the modern and highly
competitive environment. The business environment is thereby able to affect the operations of
the modern organizations and their marketing processes as well. The marketing processes
which have been developed by the organization thereby include, objectives based on
marketing and the marketing based tasks. The proper implementation of marketing objectives
and tasks can thereby lead to the proper development of the marketing processes as well. The
value which is developed for the stakeholders is also considered to be an important factor

7IMPACT OF MARKETING PROCESS
which is able to affect the operations of modern organizations. The marketing processes are
thereby able to include different activities which help in creating value for the customers. The
customers are able to form most important part of the organizational operations. The
marketing processes are thereby considered to be most important part of the ways by which
stakeholder value can be increased in an effective manner with the help of services and
products which are offered to the customers.

8IMPACT OF MARKETING PROCESS
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