Marketing Essentials Report: Analysis of Marketing Strategies and Mix

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This report, titled "Marketing Essentials," delves into the critical aspects of marketing within organizations, using Apple Inc. as a case study. It begins by defining a marketing plan and outlining the key roles and responsibilities of a marketing function, including market research and strategy development. The report then explores the relationship of marketing roles within a broader organizational context and analyzes the significance of interrelationships between marketing and other functional units. A critical analysis and evaluation of key marketing elements, such as research, strategy, planning, and tactics, is also provided. The report further compares how different organizations, like Apple and Samsung, apply the marketing function, focusing on the implementation of the marketing mix (4Ps and 7Ps) to achieve business objectives. The report also examines market segmentation strategies. The analysis aims to provide a comprehensive understanding of marketing principles and their practical application in a competitive business environment.
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Running head: MARKETING ESSENTIALS
MARKETING ESSENTIALS
Name of the Student
Name of the University
Author Note
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Table of Contents
Task 1.............................................................................................................................2
Introduction....................................................................................................................2
Key roles and responsibilities of marketing function....................................................3
Relation of roles and responsibilities of marketing to a wider context..........................3
Analysis of roles and responsibilities of marketing in the environment........................4
Analysis of significance of interrelationships between marketing and other functional
units............................................................................................................................................5
Critical analysis and evaluation of key elements of marketing function.......................6
Task 2.............................................................................................................................7
Comparison of the ways by which different organizations apply marketing function. .7
Evaluation of different tactics applied by organizations to achieve business objectives
....................................................................................................................................................7
Designing a strategic marketing plan based on 7 Ps of marketing................................9
Conclusion......................................................................................................................9
References....................................................................................................................10
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2MARKETING ESSENTIALS
Task 1
Introduction
As opined by Agic et al. (2016), a marketing plan can be defined as a report that is
able to outline the marketing strategy that will be applied by an organization in the future
operations in an industry. A marketing plan will mainly include, the overview of advertising
and marketing based goals that are set by an organization. The current marketing position of
the organization will also be described with the help of an effective marketing plan. The
development of a proper marketing plan is based on the analysis of the marketing based
functions that are performed by the organizations. The responsibilities and roles of the
marketing based functions are also analysed in the marketing plan in detail (Aksoy 2017).
The report will be mainly based on the analysis of the importance of marketing based
functions that are performed by the modern organizations. The relationships that have been
developed between the marketing functions and other units of the organizations will be
discussed in the report in detail. The methods that are implemented by different organizations
in order to apply the marketing based function will be discussed in the report. The
development of marketing mix is also an important part of the analysis that will be made in
the report. The organization that has been taken into consideration for the analysis is Apple.
Apple Inc. is multinational technology based organization of American origin that has
its headquarters in Cupertino, California. The company mainly designs and develops the
consumer electronics, online services and computer software based products that are offered
to the customers in different parts of the world. Apple has been able to gain its position as
one of the major organizations in the Big Four of technology based companies including,
Google, Amazon and Facebook. The hardware based products of Apple include, iPhone,
iPad, iPod and Mac personal computer (Apple.com 2019).
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Key roles and responsibilities of marketing function
As discussed by Alon et al. (2016), the marketing based functions are mainly
conducted by the marketing department of the organization. The major responsibilities that
have been provided to the marketing department are related to the ways by which profitability
levels can be increased and the share of the organization in the market can also be increased
in the process. The research of market is considered to be an important function that is
conducted by the marketing department. The employees who are a part of the marketing
department have to take responsibility based on development of the marketing strategy that is
aligned by the objectives and strategy of the organization.
According to Arora, Arora and Sivakumar (2016), marketing research is considered to
be a major responsibility of the marketing department of the organization. Research is
considered to be helpful for the company to understand the needs and demands of the
company. The strengths and the weaknesses of competitors can also be understood with the
help of proper market research. The internal and external factors are also considered to be
important in proper development of the products. The promotional materials are used in an
effective manner in order to develop the communications in such a manner that is helpful for
the company to analyse the demands and needs of the consumers (Bang, Joshi and Singh
2016).
Relation of roles and responsibilities of marketing to a wider context
The concepts related to marketing in an organization can be divided into five different
concepts that are a part of the core organizational operations. The current and the future
trends are able to play a major role in the success of marketing plans that are developed by
the organizations. The concepts that are involved in development of successful marketing
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4MARKETING ESSENTIALS
process include, selling, production, marketing, societal and products (Chanthinok,
Ussahawanitichakit and Jhundra-indra 2015).
Production concept – The production concept is mainly based on perception of the
consumers that is able to depict that consumers are highly inclined towards products which
are available easily in large quantities in the market at lower prices. The operational capacity
of an organization needs to focus increase in the rates of production (Kanagal 2015).
Selling concept – The mind-set of the consumers is attracted with the help of
promotion and the focus is on the services and products that are promoted in the market in an
aggressive manner (Jackson and Ahuja 2016).
Societal marketing concept – The concept is mainly based on the focus that is
provided towards the demand and needs of the consumers who are a part of the target group.
The consumers will prefer the brands and products of that particular organization in
comparison to other organizations (Kanten and Darma 2017).
Marketing concepts – The concept related to marketing is able to explain the focus
that is required to be provided to the proper delivery of the services and products in a highly
competitive market. The values of the brand are also depicted effectively with the help of
marketing concept (Kasemsap 2018).
Analysis of roles and responsibilities of marketing in the environment
The most significant roles are played by organizations in the marketing based
environment of the organizations. The process that is related to effective planning as well as
execution of different marketing concepts is defined as a part of the concepts that are related
to marketing. The different marketing concepts involve, promotion, pricing, sales and
distribution related activities (McDONALD 2016).
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Market strategies – The role that is played by marketing in an organization is
considered to be an important factor that is able to affect the development of the strategies
and proper planning process as well. The managers have to recognise the ways by which the
requirements of target customers can be fulfilled in an effective manner. The marketing
strategies are developed in order to form a balance between the opportunities offered to the
organization and organizational objectives as well.
Marketing information system – Marketing information systems are able to provide
essential information that is related to effective planning, implementation and control of the
strategies based on marketing (Miles and Darroch 2015).
Monitoring the marketing environment – The process based on marketing that has
been formed by the organizations is able to play a major role in different marketing
environments. A constructive response is provided to the organization by the marketing
environment based on services and products that are developed (Sigalas 2015).
Marketing research – The research based marketing in an organization is able to play
the most important role in the marketing strategies that are developed. The organization needs
to conduct a research based on price, product and the consumers as well.
Market segmentation – The proper segmentation of the market is considered to be
important in the global market environment. This helps the organization to offer its products
and services to appropriate customers (Sinapuelas, Wang and Bohlmann 2015).
Analysis of significance of interrelationships between marketing and other functional
units
As discussed by Walsh and Dodds (2017), the marketing functions that are developed
by an organization have an effective relationship with the other organizational functions. The
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different departments or functional units of the organization are effectively connected with
each other. The functions of the marketing department of an organization need to be
supported by various operational departments in order to maintain the effective functions and
processes. The support of human resources department, sales department, financial
department, production department is considered to be highly important for the organizations
in order to maintain their operations. The marketing team of Apple Inc. has to communicate
the marketing related activities and decisions that have been made to the various departments
of the organization. The promotional activities that are formed by Apple have been
considered to be quite innovative in nature (West, Ford and Ibrahim 2015).
The schemes offered by the organization like its collaboration with different financial
organizations in order to provide instalment facilities to the customers have to be discussed
with different departments in order to gain their support. Although the marketing functions
are separate from other activities and departments, the activities that are performed by
employees in this department require support from other departments to be successful. The
collaboration and communication that is developed by the organization between different
departments is an important factor that helps in the effective functioning (Whalen et al.
2016).
The human resource policies are developed with respect to the trends in the market,
target and sales levels of the organization as well. The supply of products and services by the
organization that are marketed or promoted by the marketing based department is based on
the production based department. The functional units have to correlate with each other in
order to maintain their successful operations in the industry. The development of a successful
marketing plan is based on the ways by which an organization is able to operate in the
environment in a profitable manner (West, Ford and Ibrahim 2015).
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Critical analysis and evaluation of key elements of marketing function
The marketing functions that are performed by the organizations are based on
different elements and their interrelationships as well. Different marketing functions that are
a part of the organization include, research, strategy, planning and tactics. These marketing
functions are linked with each other and the achievement of goals and objectives is also based
on the support that is provided by each sector (Sigalas 2015).
Task 2
Comparison of the ways by which different organizations apply marketing function
Marketing mix is mainly implemented by an organization in the process of marketing
planning in order to achieve the objectives and goals. The organization is able to utilize
different methods that are used for implementation of marketing mix. The marketing mix
application is based on 4 Ps or 7 Ps of marketing that include, product, price, place,
promotion, process, physical evidence and people (Jackson and Ahuja 2016).
Apple is a large multinational organization that is able to developed the marketing
mix strategy in order to maintain its operations in the industry. The implementation of 7 Ps of
marketing has an impact on the advertising, marketing process, promotion, advertising and
research and development activities that are conducted by organization. The ways by which
Apple has been able to understand the market with the proper implementation of different
essential tools are important factors that have led to the success of the organization in the
industry. Marketing mix is implemented in marketing planning process in order to analyse the
different aspects of the organization and offering the products to them (Arora, Arora and
Sivakumar 2016). Samsung is multinational technology based organization that manufactures
different types of electronics based products and mobile phones.
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Evaluation of different tactics applied by organizations to achieve business objectives
The organizational culture of different companies is considered in development of
effective strategies for achieving the business objectives. Apple is a large multinational
company and the process of segmentation is considered to be highly important for the
achievement of the goals. The segmentation process of Apple iPhone and Samsung mobile is
discussed as follows,
Demographic segmentation – This is based on the income levels, gender and age of
the consumers who have to make the decisions related purchase. The priority to own iPhone
was provided to customers who are already using the products of Apple (Sinapuelas, Wang
and Bohlmann 2015).
Psychographic segmentation – The social class of customers and their interest levels
based on products that are offered by Apple are considered in order to implement the
segmentation process.
Use-related segmentation – The rates of products that are offered by Apple to the
customers and their loyalty levels are also considered for segmenting the customers into
different groups (Kanten and Darma 2017).
The marketing mix of Apple and Samsung can be developed as follows,
Product – Apple mainly offers wide range of the products that are based on
fashionable and contemporary designs. The products are based on intuitive designs. Samsung
develops heterogeneous and perishable products like mobile phones.
Price – The premium pricing strategy is used by Apple in order to offer its products to
a specific group of customers and to be an image of the company. The penetrating pricing
strategy has been implemented by Samsung.
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9MARKETING ESSENTIALS
Place – The retail operations have been provided high importance by Apple. The
relationships are developed with customers in order to increase awareness (Chanthinok,
Ussahawanitichakit and Jhundra-indra 2015). The physical and online stores of Samsung are
able to help the company to reach customers.
Promotion – Different advertising channels are used by Apple in order to provide
emphasis on the quality of products. Samsung promotes its brand in a rigorous manner in
order to increase the awareness based on products.
People – The vision of Apple is promoted by the company with the help of its
employees in different stores. The employees or people are an important part of the
operations of Samsung and are able to form an effective relationship with them.
Physical evidence – A culture has been developed by Apple within the years of its
operations that is based on technology and innovation. Physical evidence is considered to be
a differentiating factor in the industry for Samsung that helps in increasing its presence in the
industry.
Process – Apple provides high levels of importance to different aspects that are
related to development of the products (Sinapuelas, Wang and Bohlmann 2015). The process
that is implemented by Samsung is based on the ways by which the company is able to
provide its services.
Designing a strategic marketing plan based on 7 Ps of marketing
The strategic marketing plan for Apple needs to be developed for making plans based
on its future operations.
The organization has to understand the needs and demands of its potential customers.
Apple is a large organization and effective market research is considered to be highly
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important for the organization in order to maintain its position in the technology based
industry. The target customers need to identified and the promotional activities need to be
formed in such a manner that is able to increase the levels of presence of the organization in
the market (Walsh and Dodds 2017). The results of the marketing plan need to be monitored
in order to analyse its effectiveness in the market and the ways by which the target audience
are satisfied by the products and services as well. Apple will be able to maintain its
operations and image in the market with the proper development of high amounts of revenues
that are related to the high sales of its products and services (Apple.com 2019).
Conclusion
The report can be concluded by stating that Apple Inc. will be successful in
maintaining the position that has been developed in the highly competitive industry. The
marketing mix that has been developed by the organization is also based on the ways by
which it can offer the products to target customers.
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11MARKETING ESSENTIALS
References
Agic, E., Cinjarevic, M., Kurtovic, E. and Cicic, M., 2016. Strategic marketing patterns and
performance implications. European Journal of Marketing, 50(12), pp.2216-2248.
Aksoy, H., 2017. How do innovation culture, marketing innovation and product innovation
affect the market performance of small and medium-sized enterprises (SMEs). Technology in
Society, 51, pp.133-141.
Alon, I., Jaffe, E., Prange, C. and Vianelli, D., 2016. Global marketing: contemporary
theory, practice, and cases. Routledge.
Apple.com 2019. Apple. [online] Apple. Available at: https://www.apple.com/ [Accessed 11
Apr. 2019].
Arora, A., Arora, A.S. and Sivakumar, K., 2016. Relationships among supply chain
strategies, organizational performance, and technological and market turbulences. The
International Journal of Logistics Management, 27(1), pp.206-232.
Bang, V.V., Joshi, S.L. and Singh, M.C., 2016. Marketing strategy in emerging markets: a
conceptual framework. Journal of Strategic Marketing, 24(2), pp.104-117.
Chanthinok, K., Ussahawanitichakit, P. and Jhundra-indra, P., 2015, July. Social media
marketing strategy and marketing outcomes: A conceptual framework. In Allied Academies
International Conference. Academy of Marketing Studies. Proceedings (Vol. 20, No. 2, p.
35). Jordan Whitney Enterprises, Inc.
Jackson, G. and Ahuja, V., 2016. Dawn of the digital age and the evolution of the marketing
mix. Journal of Direct, Data and Digital Marketing Practice, 17(3), pp.170-186.
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Kanagal, N.B., 2015. Innovation and product innovation in marketing strategy. Journal of
Management and marketing research, 18, pp.1-25.
Kanten, I.K. and Darma, G.S., 2017. Consumer Behaviour, Marketing Strategy, Customer
Satisfaction, and Business Performance. Jurnal Manajemen dan Bisnis, 14(2), pp.143-165.
Kasemsap, K., 2018. The roles of corporate marketing strategies and brand management in
the global retail industry. In Digital Marketing and Consumer Engagement: Concepts,
Methodologies, Tools, and Applications (pp. 294-325). IGI Global.
McDONALD, M.A.L.C.O.L.M., 2016. Strategic marketing planning: theory and practice.
In The marketing book (pp. 108-142). Routledge.
Miles, M.P. and Darroch, J., 2015. Competitive advantage. Wiley Encyclopedia of
Management, pp.1-7.
Sigalas, C., 2015. Competitive advantage: the known unknown concept. Management
Decision, 53(9), pp.2004-2016.
Sinapuelas, I.C.S., Wang, H.M.D. and Bohlmann, J.D., 2015. The interplay of innovation,
brand, and marketing mix variables in line extensions. Journal of the Academy of Marketing
Science, 43(5), pp.558-573.
Walsh, P.R. and Dodds, R., 2017. Measuring the choice of environmental sustainability
strategies in creating a competitive advantage. Business Strategy and the Environment, 26(5),
pp.672-687.
West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive
advantage. Oxford University Press, USA.
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Whalen, P., Uslay, C., Pascal, V.J., Omura, G., McAuley, A., Kasouf, C.J., Jones, R.,
Hultman, C.M., Hills, G.E., Hansen, D.J. and Gilmore, A., 2016. Anatomy of competitive
advantage: towards a contingency theory of entrepreneurial marketing. Journal of Strategic
Marketing, 24(1), pp.5-19.
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