Marketing Report: Marketing Essentials, Mix, and Bank Analysis

This report delves into the core concepts of marketing, emphasizing the crucial role it plays in business success. It begins by outlining the key roles and responsibilities of a marketing manager, highlighting market research, promotion, and product development. The report then explores the interrelationships between the marketing department and other functional units within an organization, such as finance, HR, and production. It further details the marketing process, including situational analysis, strategy development, the marketing mix, and implementation. A significant portion of the report is dedicated to the marketing mix, analyzing the 7Ps (product, price, place, promotion, people, process, and physical evidence) and their application to Al Rayan Bank, an Islamic bank in the UK. The report concludes by emphasizing the value and importance of marketing in creating brand value and ensuring organizational growth. The assignment provides a comprehensive overview of marketing principles and their practical application within a business context.

Marketing Essentials

Introduction
The marketing is the significant conception as its paybacks the company in marketing
and supporting the product or facility for attaining attractiveness from the competitors which
peaks to expansion in auctions and income. In previous the marketing was depended on the
advertisement, print etc. but by the arrival of the technologies the marketing has castoff
numerous devices in current inclinations of social media marketing, targeted electronic mail,
cyberspace video advertisements for the product upgradation which will be sustained in the
forthcoming with high procedure and groundbreaking technologies (Andone and et.al., 2018).
The report is deliberated on the marketing procedure with the role and responsibilities of the
marketing manager and defining the interrelation with various departments. The importance
of the marketing role with marketing mix, and defining the marketing plan for the
organization to know the progress.
The report is done on the case study Al Rayan bank also called as Islamic bank od
Britain. The bank was introduced in 2004 as commercial bank in the UK to offer sharia
complaint financial services products to consumers and variety of institutional and business
banking products and services. The headquarter is located in Birmingham and London. It is a
parent company of Masraf Al Rayan.
Part 1
P1- Key roles and responsibilities of the marketing function
Marketing insight is associated to the consumer gratification as it includes market
orientation by concentrating on upgrade actions and achieves for income expansion in the
association. The director achieves numerous roles and responsibilities of marketing activities.
 The role of marketing manager is to recognize marketing approaches by describing the
mandate of the purchaser requirements and necessities which is gratified concluded
exchange process.
 The marketing manager role is to categorize the aim marketplace and sections for
producing marketing plan for product in the association by safeguarding optimal
consumption of the capitals (Chiego, D.J., 2018).
 The marketing manager comprises the formation of conservational perusing of threats and
occasions by seeing the strong point and weakness of the business and put on numerous

communiqué tools such as publicity, sales, promotion and media for reassuring the
product which brands the image and product equity.
 The role of marketing manger supports in handling the managerial efforts which
comprises the promotional fundamentals of the marketing mix.
Responsibilities
 Market research-The market research is allied by thoughtful and wide-ranging learning
of dissimilar portions of marketing to brand the mindfulness concerning the desires and
needs of the clienteles for business presence in the competitive marketplace. The market
research knowledge is associated to the product, pricing strategy, publicity and sales
methods, consumer taste and preference for allocating dominance products which can be
changed by the executive in the manufacture to yield the goods conferring to consumer
requirements (DiMarco, J., 2017).
 Promotion and advertisement- The marketing manager is accountable to sanctuary the
information about the promotional and advertisement practices in directive to encourage
of the product. The promotional and advertisement are the share of the marketing
activities which aids the commercial in contrasting with the entrants by pleasing
enormous quantity of consumers in the market and decreases charge in product
promotion.
 Product development- The manufacture procedure is improved by beginning new
product in prevailing market that follows thinkable development in corporate. The
innovative product is tossed by attractive in R&D activities which benefits in the
alteration and categorizing new thoughts of consumer demand, market trends and to
endure competitive through modernization and imagination. High superiority products
are providing by reducing the charges mains to high sales.
P2- Interrelationships between marketing and other functional units of an organisation.
The marketing resolutions yield the nearby connection with further divisions to
protect the conquest which is concerned by other departments (Hassan and et.al., 2018).
 Marketing and finance department- The administration produces the marketing
knowledge and to utilisation that it involves the facility of financial department. The
budget is assigned to discovery presented financial resources compulsory in each and
every activity of marketing plan. A declaration is formed concerning the revenue and
loss. The investment department benefits the advertising department to create the drives

and purpose of the business which relative’s product image and allegiance with money
flow. Marketing is accountable for serving the organization for obtaining and possession
money-making customers for additional cash flow.
 Marketing and HR department- The marketing pronounces the movement of
properties and amenities from manufacturer to purchaser which profiles the product
image and primes the administrative resources for client fulfilment. The HR department
is principally regarding with the assignation of the workers to generate the connection
between employees at work. It is held accountable for the staffing of the skillful and
well-informed workers for the situations in the business. Divisions are interconnected
together in marketing the product by obtaining trained workforce who hold extreme
information around the product (Koontz and et.al., 2020).
 Marketing and production department- The manufacture subdivision describes the
understanding of the purchaser that is associated in the track of the goods which is
manageable to them in worthy amount in market in luxurious proportion. The
functioning scopes of the association must importance on the manufacture degree. The
advertising sets target for the business on the basis manufacture targeted and elements
are committed so that production capability can be enlarged and heightened.
 Marketing and R&D department- The R&D separation shape savings in the actions
that consumes ensued owing to the alteration in knowledge and development of markets.
It comprises the activities of product development and diversification, industrial
standards and designs, efficiency research so that promotion department can established
the tactics to endeavor with competitors. The interconnected subdivisions generate
production function current by investigating of innovative technology and leaders the
improvement of the product marketing (Matthews and et.al., 2017).
Marketing process-
The marketing procedure discusses the behaviors that generate worth for the clients
and consumers by filling their desires and wishes by connecting the unceasing sequence of
action among purchaser and organization. The stages elaborate are-
 Situational analysis- It is a foremost stage where marketing opportunities are examined
in the intention of purchaser pleasure. Its demeanors the environmental examination for
consideration organization competences, and situation in which it functions. The context
castoff in the situational analysis includes the PESTEL, SWOT analysis, 5C analysis etc.
which primes to development and progresses performance.

 Marketing strategy- It is another procedure develops strategic plan to track the
acknowledged prospects. The businesses become consumer positioned by distributing
prodigious worth and satisfaction which includes the assortment of target market by
defining the customer behavior. It includes the tactic of STP where entire market is
separated into dissimilar sections known as segmentation, after that segment is targeted
are named market targeting. After that strategy is intended for serving effectiveness and
customer satisfaction to the sections improved than competition known as positioning of
market (Memon, S., 2018).
 Marketing mix decision- The strategic choices are made for monitoring the restraints of
the marketing mix. It a method castoff for product promotion and sustaining purchaser by
concentrating on 4Ps and 7Ps comprises of product, price, place promotion, people,
process, and physical evidence.
 Implementation and control- It is last stage in the marketing strategy where exertions of
marketing are observed and marketing mix is accustomed conferring to the market
fluctuations. It needs four organization operations- analysis, planning, implementation
and control to achieve the marketing effort and benefits in accomplishing anticipated
company purposes and targets.
Analysis of the value and importance of the marketing role
The marketing role is actual significant in creation the product positive and makes the
worth for the association by increasing brand image and character. The requirement of the
clients pre-exists in the marketplace where marketers recognize them accept numerous
strategies rendering to Stimulus the needs by determining the cultural & persons characters.
The importance of marketing role assistances in safeguarding organizational progress and
existence since of purchaser retention and expansions the market share. The marketing
teaches the individuals by providing marketing knowledge concerning its product, price,
quality, use and maintenance. The ordinary of the living is enhanced of persons by bringing
high quality of products and services (Pantano and et.al., 2018). It makes direct and indirect
hiring opportunities for huge quantity of persons in numerous activities such as advertising,
publicity, market research, salesmanship etc. The significance of marketing benefits in
immersing demand and supply conditions. In accordance with this it can be alleged that the
marketing is actual imperative notion not only limited to business but also to society,
consumers and nation similarly which makes the value by seeing all the aspects.

Part 2
P3- Marketing mix
The marketing mix is instrument used by the organisation for accomplishing the
objective in the target market. It involves the mixture of 4ps product, price place and
promotion. With the increase in the usage of marketing mix it comprises other three
elements’ people, process and physical evidence which is also termed as 7Ps of marketing
mix.
The marketing mix is complete on the Al Rayan bank. It is a Islamic baking
compliying with the Islamic principles.
 Product- The bank offers a widespread variety of banking services and the prime
number of Islamic retail financial products in the UK. The products comprise home
Purchase Plans (HPP), Commercial Property Finance (CPF), current accounts and a
series of savings accounts catering for diverse requirements. The Bank also delivers
Sharia compliant business banking which essentially based on Al-Quran, As-Sunnah,
Ijma’ and Qiyas. It offers more than 30 products (Pollock III and et.al., 2019).
 Price- The bank charges the price depending on the market, quality, and target segment
which helps in the revenue generation for the company. The Islamic finance uses the
pricing strategy based on ratios. To replace the practice of the lending of interest it
provides the alternative of financing arrangement. The bank also makes use of
competitive pricing strategy to struggle with the entrants in the market by ownership
low price of the products and producing practice of economies of scale. The pricing is
also dine depending on the customers as they are sensitive having various operations.
 Place- The bank rarely uses the traditional distribution channels for financial services.
The distribution is done by intermediaries of marketing channel that is implemented
either online or offline through branches and agencies, and the internet for trading
platform on websites, social prospects. The bank delivery system is depended on a
mixture of human resources, locations, and facilities provided.
 Promotion- The bank implements its own exclusive marketing approach to reach
distinct market segments. The banks do the promotion through personal banking to
understand the customer attitude of factors. It has 9 branches and offices. The Rayan
bank usages several promotional techniques to encourage its products and service such
as advertisement, event marketing, and sponsorship. The company also takes the usage

of print, radio and television commercials to promote the products of banking (Price and
et.al., 2017).
 People- The Bank has an independent Board of Directors which has delegated
responsibility for day-to-day management to the executive team, led by the Chief
Executive Officer. Its employees more than 295 employees. The Rayan bank requires
enormous personnel to generate awareness regarding the product, services and benefits.
The effectiveness of the banking depends on the people creating superiority concerning
their work. The employees have updated information regarding the banking products
and services. It is a customer-centered company which is obligatory feedback from the
customers on their services for more enhancement which helps in creating positive
image in consumers minds. The banking also provides the customer services.
 Process- The banking process defines the flow of the services that how it is procured
service or provided to customer. In the banking the services is provided fast, adequate
and customer friendly. The banking involves the procedure, technique, time, duration to
which service is delivered to the customer.
 Physical evidence- The Bank is authorised by the Prudential Regulation Authority
(PRA) and regulated by the PRA and the Financial Conduct Authority (FCA). The
Rayan banks physical evidence defines the environment in e=which services are
provided and customer interaction takes place to facilitate the service & performance
communication. The evidence of the banking is defined with its unique logo and
services taken by customers. The cheque book also defines the physical evidence.
The other marketing mix is done on banking of Lloyd banking group is a British financial
institution established in 2009. It headquarters is located in the 25 Gershan Street on London
city. The bank is operated by the Robin Budenberg dealing in financial services and banking
facilities (Rahman and et.al., 2020).
 Product- The Llyod bank proposals supervision and funding to masses of customers by
the wide-ranging range of its products and services to fulfill the specific needs. Its
operations delas in segments such as consumer finance, insurance, commercial banking
and retail banking. The foremost USP of the facilities and products obtainable by
Lloyd’s bank is determining the wants of its clients and approaching through diverse
proposals to satisfy their needs. Lloyds Bank has a differentiated product and service
collection in its marketing mix that comprises: Current Account, Savings, Credit cards,
Private Banking, Investments, Mortgagees, Loans and many more.

 Price- The Llyod bank delivers exclusive and specific services and products to its
customers by using the value-based pricing strategy. The worth is the furthermost
significant powerful force as worth emphasis on the price the possible customers are
eager to pay grounded on the advantage presented by the Lloyds Bank. It also offers
differentiated pricing variety by providing together high and low rates dependent on the
kind of products and services (Shiva and et.al., 2017).
 Place- Lloyds Bank assists virtually clients with their facilities in the UK and at
international level. Services alike banking facilities to tactical funding and global trade
resolutions are offered in Asia, Middle-East, Europe and the United States. Lloyd’s
takes robust distribution channels and is separated into subsidiaries and separations for
effective management of its work. Its investment group is regulated by its Selling
division which has approximately thirty million customers creating it the principal retail
bank in the United Kingdom. Its system also comprises central data Centre, major
offices and subsidiary headquarters. Its insurance separation is vigorous largely in
Europe and the United Kingdom.
 Promotion- Lloyds, is a trusted brands in the United Kingdom has executed numerous
marketing plans to continue in public interest. It preserves its promotional by
approaching up with changed advertisements to encourage its products and services
between the crowds. In the previous 10 years, more than a few brand awareness
campaigns were introduced by the brand. In 2011, Lloyd’s bank establishes the
campaign to its novel free online money tracking service Money Manager through
“Money Manager” campaign. It understands the benefit of the optimistic publicity and
hence, it has engaged in many events and sponsorship contracts to generate
positive brand awareness.
 People- Lloyds Bank depend on entirely on its labor force for its victory. The entire
personnel of Lloyds Bank are almost 45,856 employees. The bank has extremely
qualified specialists which work crosswise diverse subdivisions. These skilled
professionals form the professional teams taking skillful knowledge transversely these
sectors. Lloyd’s bank has alienated all its resources as per their experiences as senior
team, regional specialists, sector specialists, product specialists, economic specialists
and area directors (Siegel and et.al., 2018).
 Process-Lloyds Bank delivers online services for its clients to gain the services and
products. The bank has its personal mobile application as well as cyberspace banking

which is simply available by its clients. These apps assistance the clients in recognizing
what the bank delivers to its clients. It also delivers telephonic customer care support
with superior consultants to support customers with any sort of problem.
 Physical evidence- The customer can advantage the facilities providing by Lloyd’s
bank either by online or offline mode. In offline mode, specific division professionals
will be serving the customer with their requirements and after the facility is being
bought, all the evidences concerning the contentment of the terms and conditions will be
offered ended to the customer. In online services customers gets the details of the
services and products from Apps and internet banking.
P4- Marketing plan for an organization
The marketing plan describes the inscribed article of corporate with the determination
of defining existing market position and approaches, purposes and the tactics cast-off by the
company.
Executive summary- The Al Ryman bank is the Islamic bank in the UK offering various
products and services complying with the Islamic principles called as sharia complaint. Those
principles pressure ethical and moral values in all financial dealings and transactions. Islamic
banks are not limited to Muslims but also open to non-Muslims. In the report it has been
discussed about the concept of marketing with the responsibilities of the manager and
defining the marketing mix followed by the bank to differentiate its products from the
competitors (Strydom, J.W., 2017).
Vision and mission- The vision is to offer a comprehensive range of sharia complaint
product and facilities by well-organized and dependable channels to segments in the market
to attain high return on stockholder speculation and sustaining consumer needs. The mission
of the Rayan bank is to build balanced financial institution, providing market leading
financial services, and becoming a market leader.
Objective – The objective of the Rayan bank is to serve best quality services to the customers
and delivering prestigious credibility and ability by intrinsic influence.
Marketing strategies- To accomplish the purposes it contains the (STP) segmentation,
targeting and positioning strategy of marketing. In segmentation the entire market is divided
into different segments according to the customer needs and demographic, geographic sector.
In targeting the different class group are targeted by offering various services and products.

In positioning the Rayan bank introduces new products and services according to the
customer to produce the distinct image in the consumer minds by emphasizing on quality.
Marketing tactics- It includes the SWOT analysis of the business. The strength of the Ryan
bank was having skilled workforce with good brand image and create awareness to have large
customer base. The weakness was affected by the external factors of government policies and
price fluctuations. The opportunities Rayan bank was having the attainment of strategic
brand, and extension of the operations in new market. The threat was faced by the Rayan
bank of high competitors (Tomczak and et.al., 2017).
Monitoring the marketing plan- The strategy is gauged with the preceding auctions so that
achievement can be engaged to adjust the fluctuations in the strategy to increase the market
portion. The market share study is reserved to recognize the entrants share in proportional
with the business and competence relation is calculation.
Conclusion
According to the study it being concluded that advertising is indispensable portion or
purpose in the business for its achievement and presentation by important high growing. The
marketing improves the estimating and decision-making of the corporate. The association
brands the optimal consumption of the capitals to shape the goodwill. The administrator has
numerous responsibilities to accomplish and connection by the further subdivisions. The
marketing plan is shaped of the Rayan connecting the marketing mix of 7P’s to recognize the
marketplace trend.
References
Books and Journals