Marketing Essentials: Roles, Strategies, and Marketing Mix Analysis

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This report provides a comprehensive overview of marketing essentials, focusing on the roles and responsibilities of a marketing department within a company, particularly using Bentley Motors Limited as a case study. It delves into the analysis of the marketing environment and the interrelation of marketing with other organizational functions, such as production and finance. The report also compares how different organizations, including Bentley Motors and Aston Martin, apply the marketing mix (7Ps) to achieve their objectives. Furthermore, it includes a basic marketing plan, strategically applying the 7Ps to demonstrate a tactical approach to marketing. The report concludes with an evaluation of key marketing function elements and their interconnections, offering valuable insights into effective marketing strategies.
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Marketing Essentials
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Table of Contents
INTRODUCTION...........................................................................................................................5
TASK 1............................................................................................................................................5
P1 Essential responsibilities and duties of marketing department in a company...................5
M1 Analysis of role & responsibilities performed by marketing in respect of marketing
environment............................................................................................................................7
P2) Roles and responsibility of marketing in wider organisational context...........................7
M2) Significance of Interrelationship....................................................................................8
D1) Critical evaluation of key elements of marketing function and its interrelation.............8
TASK 2............................................................................................................................................9
P3 Comparing different organisation's way of applying marketing mix in accomplishing
objectives................................................................................................................................9
M3 Evaluation of various tactics implemented by organisations to present their way of
achieving objectives.............................................................................................................13
TASK 3..........................................................................................................................................13
P4, M4) Marketing plan.......................................................................................................13
D2) Strategic marketing plan that tactically applies use of 7Ps...........................................17
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................20
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INTRODUCTION
Marketing can be defined as a set of activity or process which aim at creating,
communicating, delivering and exchanging offerings and products that provide maximum value
to customers, clients and shareholders also. Marketing aim at creating awareness in consumers
about the features and advantage of a product to compel them for buying the same product
through a persuasive communication thus, it promotes a product to increase sales and
productivity of an organisation (Campbell, Martin and Fabos, 2018). This assignment is based on
Bentley Motors Limited which is a British manufacture and marketer of SUV and luxury cars
having its headquartered in Crewe, England. This assignment consists of key roles and
responsibility of marketing functions and also provide knowledge about interrelation of
marketing with other functional units of an organisation. This report also compares the ways in
which different organisation apply marketing mix. At last, a basic marketing plan is also form a
part of this assignment.
TASK 1
P1 Essential responsibilities and duties of marketing department in a company
Marketing function performs lot of important tasks in an organisation. Every company
needs this department to deliver and transfer necessary information to the consumer. Following
are the significant duties of Marketing department that are fulfilled for the survival of company.
Responsibilities of marketing unit:
Listening customer’s needs: It is the responsibility of marketing to work closely with
customers and concentrate on their behaviour so as to discover the current needs and make
appropriate marketing strategy for the product of company (Nirschl and Steinberg, 2018). In
Bentley motors, marketing unit collects information and develop surveys from the customer
support team to enhance and redirect strategies for future period. It also captures data from social
networks to find out the activities of different customers.
Track recent trends & monitor competition: Marketing function checks the current
position of the organisation by comparing with the competitors and trends in market. Bentley
motors company has an effective marketing unit that watch new changes in competition to
understand its best offerings and identify weaknesses of company so as to avoid them in future
(Nirschl and Steinberg, 2018).
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Channel marketing: Marketing department sets tactics and provides support to third
party network partners of organisation which are engaged in communication, demand generation,
and education (Gurtner, Spanjol and Griffin, 2018).
Creating brand values: Marketing unit is responsible for establishing, distributing brand
image, significant messages and thought which assists in communicating brand values
effectively. In Bentley Motors Ltd, this department assure that every department of company
convey message contents in a conformable and coordinated way.
Discovering marketing tools: Marketing department ensures that company is always
updated in the field of marketing. Henceforth, marketers remain conscious about new trends,
digital tools emerging in market and the strategies applied by different competitors. In Bentley
motors, marketing management identifies all the changes in product management tools,
marketing automations tools, Product information tools, etc.
Co- ordinate the activities of marketing partners: It is responsibility of marketing
function to co-ordinate and monitor efforts of contributors which are associated with company's
marketing. It ensures that working of partners is always linked with goals of organisation. In
context of Bentley Motors Ltd, marketing unit closely observes and also keeps track of activities
of publishers, designers, consultants, writers and journalists (Bauer, 2018).
Roles of marketing unit in an establishment:
Marketing department executes several duties in a company. Some important roles of
marketing in Bentley Motors Ltd are mentioned below-
Brand management: Main role of Marketing unit is to create business concerns brand
name or logo, develop image with its implementation by making use of mass communication
tools like advertising. In Bentley motors, marketing department is liable to create logos so that
all promotional activities could be implement effectively.
Corporate communications: Marketing division generates standard for company to
convey messages and encourage organisation by using strategic tools like though leadership and
PR. Marketing department develop marketing messages to carry out promotion of product and to
influence target customers.
Market intelligence: It is the role of marketing function to capture, examine and
distribute appropriate information, understand customer attitudes, track new entrants in market
and analyse competition in industry (Grimmer, 2018). Research is carry out by marketing
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department of Bentley Motors Limited to track the changes take place in customer’s needs and
wants into better satisfy their needs.
Product management: Marketing unit monitors market activity, discovers market
problems for the product of company, identify application of innovations in products/ services
and determine whether commodities are tested and shipped on specified time. In Bentley Motors
Limited, marketing department carry out research to identify new customers for company’s
product.
M1 Analysis of role & responsibilities performed by marketing in respect of marketing
environment.
Marketing is a very wide concept and it is not limited to internal factors of organisations
but also covers all the external factors of a business environment. The main role and functions
performed by marketing in marketing environment is continuous and timely monitoring of
Marketing Environment. It is concerned as most important role played by marketing is timely
analysis of business environment which makes it easy to understand current trends and situation
of market. Marketing makes an organisation aware about current opportunities and threats which
is use full Bentley motors to formulate an effective marketing strategy for achieve of its goals
and targets (Pricilla, 2019).
P2) Roles and responsibility of marketing in wider organisational context
Marketing is an important function which promotes the sales of a product and maintain
good brand image and better relationship with customers. In wider organisational context
marketing plays an important role through providing information about current trends and
demands of customers on which all the operations of an organisations depend. Marketing plays a
significant role in success and timely achievements if goals of an organisation but marketing
alone cannot meet all the objectives of organisation. For overall growth and success of firm
proper interrelation and connection of all the departments is necessary. Bentley is a famous
manufacturer and marketer of exclusive and luxury cars. Thus, to maintain its brand image it is
necessary that all its functions are properly coordinated and linked with marketing. Interrelation
between marketing and other functional unit in Bentley is described below:
Marketing and production department- It is the responsibility of production
department to timely provide and deliver a product on the basis of customer’s needs and
expectation. This information about prevailing trends and needs of customers is provided by
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marketing department. Thus, proper interrelation between two ensure deliver of a most suitable
product which fulfil all desires of customers. In Bentley, marketing department conduct timely
research to understand the taste of customers and provide this knowledge to production
department so that they can produce most exclusive and luxury car which will meet all the
demands of customers and provide maximum satisfaction to them (Hanlon, 2019).
Marketing and finance department- Timely preparation of budget and keeping a record
of all income and expenses is the most important role of finance department which ensure proper
control on wasteful activities and expenses. Marketing department require adequate amount of
finance to properly implement its marketing strategy and to conduct market research. A proper
coordination between these two functional units ensures a control and check on expenses of
marketing department through preparation of proper budget and other control technique by
finance department. In Bentley, finance department provide sufficient amount of finance to
execute best marketing strategy which will ultimately ensures more profit and income for finance
department. Marketing is essential for an organisation to increase its profits and income level
which is used by finance department for better growth and expansion. Thus growth and better
financial performance can only be achieved by proper marketing.
M2) Significance of Interrelationship
The interrelationship and collaboration between different units is very significant for
every organisation as it facilities timely achievement of targets and goals through reducing
chances of confusion and chaos. Proper connections between marketing and other functional
units ensure that all efforts of marketing are parallel to the overall objectives of organisation
which increase the efficiency and productivity of organisation. Like for Bentley, Marketing
makes production department aware about different needs and demands of customers so that they
can deliver a product as per this need which will increase the sales of organisation (Okumus and
Cetin, 2018).
D1) Critical evaluation of key elements of marketing function and its interrelation
Marketing function includes timely “market research” as an its element which is very
useful for production department as it provides information about latest trends and fashion which
makes it easy for production department to deliver a product which is best suitable for prevailing
market and satisfy all desired and needs of customers. Interrelation between finance and
marketing department sometime creates issues in an organisation as excessive control by finance
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department on budget of marketing can lead to ineffective marketing element which is
“marketing strategy”.
TASK 2
P3 Comparing different organisation's way of applying marketing mix in accomplishing
objectives.
Marketing mix is an important tool for marketers and is used in influencing behaviour of
consumers (Uncles, 2018). There are various elements that affect buying decision of customers
related to particular products and these factors are part of 7 P's of marketing. They assist
businessmen to conduct marketing plan for promoting the functioning of businesses (Marketing
mix, 2019).
Bentley Motors- It is an auto-mobile company of United Kingdom which is engaged in
designing, creating, producing luxury motor cars. It was constituted by W.O Bentley in the year
1919 in place North London. Bentley is situated in Crewe city, England, UK. Volkswagen is the
parent company of this auto-mobile organisation. Competitors of the firm in industry are
Mercedes Benz, Aston Martin, Ferrari, Jaguar, etc.
Aston Martin- Present company also known by Aston Martin Lagonda Ltd., that deals in
Automative industry, especially with production of Luxury vehicles. Aston Martin was
established by Robert Bamford and Lionel Martin in the year 1913 (Aston Martin, 2019). It faces
competition in industry from brands like Ferrari, Maserati, Bentley Motors, Audi, McLaren, etc.
Following matter is provided to give detail knowledge about implementation of marketing mix
by two different companies-
Marketing mix Description Bentley Aston Martin
Product It refers to the tangible
and intangible features
which a company
offers to its customers
to fulfil their
requirements. Product
factor may be any
item, commodity or
Bentley motors
product range consists
of Bentley Turbo R,
The Azure, Bentley
Brookland,
Continental GT,
Mulsanne, Bentley
Bantayga, Bentley
Products of Aston
Martin includes
Vantage AMR,
Valhalla, DBS
superleggera, Rapide
AMR, Valkyrie, Aston
Martin DBX, DB11,
V12 Vanquish, DB7
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service along with
good packaging and
quality.
speed Six and several
others.
Zogato, Cygnet, etc.
Price Price of an item
mentions the amount
charged by a company
in exchange of product
or to obtain possession
of commodity.
Bentley motors uses
Premium pricing
strategy to target its
models to rich section
of community. Motor
cars prices are high
due to its handmade
manufacturing method
adopted by the
company. Another
reason of high pricing
is that products are
manufactured
exclusively in few
quantities.
Aston Martin has
targeted population
having wealthy
lifestyle. It has adopted
pricing strategy of
high premium pricing.
The brands of this
company requires high
maintenance and costs
hence, wealthy people
are considered as
main customers .
Place This element indicates
the medium through
which the items of
organisation are made
acquirable to its
consumers. It may be
any retail store, shop
or showrooms
(Malhotra and
Burgess, 2018).
The manufacturing of
Bentley brand
products is carried out
in factory of Crewe
city in UK. It has its
presence in
international market
also. Bentley motors
models are sold in
India, Japan, China,
Australia, United
States, Canada and
Company is present in
almost all geographical
areas of the world. It is
established in six
continents and is
present in countries
like Turkey, Kuwait,
Qatar, China, United
Kingdom, Austria,
France, South Africa
Denmark, Riyadh,
United States, Jordan,
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United Arab Emirates.
Around 85% products
of company are
exported to global
areas.
Germany, Canada,
Greece, Monaco, Peru,
Italy, Sweden and
Russia. Aston Martin
has strong distribution
network in various
areas.
Promotion It alludes different
methods through
which the information
of product is
communicated to the
community. Promotion
may be advertising,
public relations tasks,
personal selling
activities.
Bentley motors uses
innovative marketing
strategy in
promotional processes.
It printed official URL
on some test cars to
launch new models in
market. The company
do not conduct
aggressive marketing
of cars to increase its
sales if their demand is
low in market.
Marketing strategy
applied by auto-mobile
firm are concentrated
marketing, inbound,
trade-shows, database,
product placement or
event.
Aston Martin has
established strong
brand awareness of its
products in
marketplace through
its promotional tactics.
It promotes the models
through use of
magazines, billboards
and business journals.
Company considers
direct selling of
products to targeted
customers and
therefore, also invests
in direct marketing
policies. It actively
advertises cars through
social media platforms
such as official
websites, Instagram,
Facebook and Twitter.
People It includes all the This includes It alludes highly
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people who will be
engaging with the
product or service of a
company. People
element may be
employees,
consumers, dealers,
and management.
craftsmen which
possesses extreme
craftsmanship skills to
make product by
hands, skilled
employees,
trustworthy customers
and distributors.
skilled workforce,
dealers, suppliers,
valuable customers,
brand ambassadors,
top managers, and
owners of company.
Process This factor indicates
the operation by the
use of which the
product/ service of a
business is produced
and delivered.
It manufactures its
product in company's
factory in Crewe,
England. Cars are
produced by craftsmen
by hand under the
guidance of designer.
Bentley sells models
directly to the
customer from shops
located in various
places in world.
It has adopted lean
production theory
model in
manufacturing the
products of company
in order to reduce
wastages and improve
customer’s
satisfaction.
Physical Evidence Physical evidence
element signifies the
ways adopted by
company in shaping
and forming their
product that will be
detected by consumers
in the marketplace. It
can be brochure,
packaging, uniform or
Bentley has utilised
unique and captivating
promotion of its brand
models. Brochures,
waiting rooms, offices,
correspondence and
shops are also
unambiguously
designed.
Dealership across the
international market
display company's cars
with products offering
unique experiences to
customers. Exclusive
showrooms of Aston
Martin are present in
several regions of
world.
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design of shop
(Sharma, 2019).
M3 Evaluation of various tactics implemented by organisations to present their way of achieving
objectives.
Marketing mix of Bentley motor assures that they offer qualitative and satisfactory luxury
model to customers. Proper utilisation of variables in marketing assisted the company in
enhancing its profitability, controlling the dominance of competitors and improving sales
margin. Aston Martin has gained recognition all over the world and has also seen increase in the
sales as well as profit margin in recent years. This success of company was assisted by the use of
effective promotional strategies. It has adopted those advertising methods and tactics that aids in
linking with customer’s way of digesting content and with brand loyalty.
TASK 3
P4, M4) Marketing plan
Marketing plan is a written document which provide outline or framework for proper
development and execution of marketing tactics and strategy. It prepared for a specific time
period mainly 12 months and covers all marketing related details like cost of project, goals,
objective and all other actions and steps taken for fulfilment of desired targets and for timely and
successful completion of a project (Pooler, 2018).
Overview
Bentley motors limited is a well-known British marketer and manufacture of luxury cars
and SUV founded by W. O. Bentley in 1919 in Cricklewood, North London. Since 1998 is a
subsidiary of Volkswagen Group and headquartered in Crewe, England. It aims at providing
enrich experiences to both driver and those who prefer to be driven. It is truly engaged in
combining elegant design, contemporary craftsmanship and seamless technology. Its best luxury
and stylish cars include GT v8, EXP 100 GT, BENTAYGA and many more. As today customers
and government both become more aware and concern about environment thus, Bentley is also
making targets based on sustainability (Bentley Motors, 2019). It’s all new cars are having
smaller, cleaner engines and more efficient work practices to help in reducing its overall impact
on the environment. For achieving its sustainability targets, Bentley is planning to launch a new
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electric car with brand name, “Bentley Electric Spur”. The following market plan is prepared by
Bentley to achieve its objective sustainable development and to meet the government norms and
regulation for protection of environment. This market plan includes the mission, objective, vision
and all marketing strategies of Bentley motors to timely achieve the desired targets.
Mission
It provides a written declaration of an organisation's core purpose and focus to provide
intended direction to entire organisation. The mission statement of Bentley is, “To manufacture
and provide a high performance, exclusive and individual luxury cars which is best in its
class”.
Vision
It provides a map or framework that indicates that what a company wants to become or
achieve in long run through setting or defining directions for company's growth. The vision of
Bentley motors limited is, “To become the world's most successful, fascinating and sustainable
car manufacture”. For fulfilment of this vision and to focus a little more on sustainable
development Bentley is launching its new electric car.
Objectives
objectives represent the main targets or goal of an organisation. The main objectives of
Bentley behind launching its new, “Bentley Electric Spur” are as follows:
To increase number of vehicles sold per year to 20,000 by 2020.
To increase its number of customers by 15% in one year through targeting potential
customers who are more concern towards environment.
To increase overall productivity and profitability by 10% in coming 12 months.
STP approach
Marketing and sales are the two factors for success and growth of any organisations. STP
is a marketing tool that is helpful in developing a digital strategy for content marketing of any
new product (Holbrook, 2018). STP focuses on most valuable segments of markets and
facilitates right marketing mix and product positioning strategy to attract potential customers to
ensure the success of product. Bentley is going to launch a new electric car thus; it is making use
of STP approach to implement best marketing strategy to attract the potential customers. The
three main components of STP model are as follows:
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