Marketing Strategies and their impact on Business Growth

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Role OF Marketing

Contents
Introduction.................................................................................................................................................3
LO1 Explain the role of marketing and how it interrelates with other functional units of an organization..4
P1 Explain the key roles and responsibilities of the marketing function..................................................4
P2 Explain how roles and responsibilities of marketing relate to the wider organizational context.........5
LO2 Compare ways in which organizations use elements of the marketing mix (7Ps) to achieve overall
business objectives......................................................................................................................................6
P3 Compare the ways in which different organizations apply the marketing mix to the marketing
planning process to achieve business objectives......................................................................................6
LO3 Develop and evaluate a basic marketing plan......................................................................................8
P4 Produce and evaluate a basic marketing plan for an organization.......................................................8
Conclusion...............................................................................................................................................9
References.............................................................................................................................................10

Introduction
Marketing is known to be one of the most important aspects of any business. All the work that
has been done in order to make the business work would be wasted or not much profit would be
made if there is not any proper marketing done in order to promote the business. With the help of
this essay we have try to illustrated the vital role of marketing strategies for not only the
marketing unit but other business units as well. We described how marketing can guide the
departments like financial, human resource etc. There are many ways of marketing a product
such as mouth publicity, hoardings, advertisements, pamphlets etc . In the following report, the
whole role of marketing in any business is explained. After going through this report, a learner
would be having a basic knowledge regarding the concept of marketing. Once this report is
properly understood a leaner would be having the ability to perform tasks such as explaining the
whole role of marketing and its interrelation with other fields and the departments of any
organizations, comparing the various methods and ways in which different organization apply
the marketing mix in order to have the achievement of the business objectives and also
developing a business plan.

LO1 Explain the role of marketing and how it interrelates with other functional units of an
organization
P1 Explain the key roles and responsibilities of the marketing function.
For any organization, marketing is a very essential part. It can also be said that modern or not,
any organization’s susceptibility towards the consumer’s demand, the marketplace, and internal
and external relations is pretty evident (Wirtz, et. al., 2015). Marketing serves as an efficient
multi-purpose tool to address all these three. Now, more than ever, the importance of marketing
is welcoming so much innovation into the organizations just to ensure stronger and more fruitful
customer relationships (Wirtz, et. Al., 2015). Owing to the growing global awareness regarding
marketing, there have been exceptional stories in the current market landscape about small-size
organizations making sky-high revenues. There are organizations with ridiculously small
workforce yet a more focused approach towards their customer base that earns them appreciable
stakes in the market (Wirtz, et. Al., 2015).
The implementation of this plan will, of course, need concrete financial strategies, workforce and
tight market analysis (Vivekananth, 2015). Thus, the financial, human resource and sales
department already need to be closely connected with the marketing unit. Bigger the marketing
plan is, more complex will be its interrelationship with other departments. The constant support
for the functional departments by the other departments makes the organization’s performance
more effective (Vivekananth, 2015). All information gathered from in the Information System
helps in planning and implementation of the product marketing (Vivekananth, 2015). Any fresh
developments in the marketing front are identified and studied for constructive responses. This
helps in development of the final product or the services provided by the organization
(Vivekananth, 2015).

P2 Explain how roles and responsibilities of marketing relate to the wider organizational
context.
For marketing, it starts with strategies. All information gathered from in the Information System
helps in planning and implementation of the product marketing (Varadarajan, 2010). Any fresh
developments in the marketing front are identified and studied for constructive responses. This
helps in development of the final product or the services provided by the organization. Fresh
market traits, Social and Economic changes, ups and downs of the market topography, political
influences etc. can be categorized as such identified developments (Varadarajan, 2010).
The marketing researches are mostly interested in the knowledge of the product itself. Apart
from that, the pricing, consumer demand and, thus, a proper communication of the services that
meet them, are all crucial points of knowledge. Building up the brand also adds value to the
products due to the stable customer trust (Friesner 2014).

LO2 Compare ways in which organizations use elements of the marketing mix (7Ps) to
achieve overall business objectives
P3 Compare the ways in which different organizations apply the marketing mix to the
marketing planning process to achieve business objectives
One of the most important aspects of the marketing process is the marketing mix. Marketing mix
is what helps the marketing planners to achieve the goals of the organization. It’s a mix because
a multiple methods of marketing strategies are applied to suit the organizational requirement. It
vastly covers the demographics, knowledge of the products and market and company sizing. An
appropriate blend of these helps the marketers with the understanding of the target products. It all
boils down to the 7 P’s (Yasanallah and Vahid, 2014).
 Product: The product that has to be sold must be sold on the basis of the market needs
and the latest version of the product must be provided to the clients and the customer. If
the product is not good there is no meaning of any marketing as it would not be beneficial
or as beneficial as the marketing has done in the future (Samani, et. al., 2017).
 Price: The price of the product must be justifying the services that are being provided to
the customer by the product. The product must not be over priced, but reducing its cost
more than the worth of it is not a proper thing to do (Samani, et. al., 2017).
 Place: One of the main aspects of the marketing process which is very much important
but often ignored by the organizations is the place where the product is being sold. Even
if the product is selling really good worldwide and globally all across the world, if the
market in which the product is being sold is not accepting it in particular, then the profit
would not be as much as it would have been if the right location was chosen in order to
sell the product (Samani, et. al., 2017).
 Promotion: People often confuse marketing with promoting as they think that both are the
same. But it is also not incorrect to say that the promotion is one of the most important
aspects of marketing of a product. A proper promotion of a product can create the hype in
the public who haven’t even used the product yet and will make them excited about the
product even before it is launched (Samani, et. al., 2017).
 People: The people are just as the place. Even most of the people in a research liked the
product and found it worth buying. It is not necessary that the group of people which are
being pandered by the organization, would be buying the same, hence research of the
people who are working in the particular environment must be done.
 Process: The process of whole marketing is the one aspect that must be implemented
properly and no chances must be taken. Every step of the marketing must be pre planned
even if it is not to be shown to the crowd (Samani, et. al., 2017).
 Physical evidence: There must a proper illustration of the product that is being sold and
promoted. The public would also be needing to see the product work in order to build the
trust in them and the others (Samani, et. al., 2017).

These 7 P’s help the organizations to mould the marketing mix as per their organizational
culture. To start with, the organization gets to find its target market which then leads to market
segmentations. Once the segments are evaluated as per the organizational culture, it becomes
easier to construct the Segment processes. Ultimately, this builds up the positional strategy for
the organization that keeps on improving based on the evaluation and feedback of the segment
processes.

LO3 Develop and evaluate a basic marketing plan
P4 Produce and evaluate a basic marketing plan for an organization.

Conclusion
In the following report, the whole role of marketing in any business is explained. After going
through this report, a learner would be having a basic knowledge regarding the concept of
marketing. Once this report is properly understood a leaner would be having the ability to
perform tasks such as explaining the whole role of marketing and its interrelation with other
fields and the departments of any organizations, comparing the various methods and ways in
which different organization apply the marketing mix in order to have the achievement of the
business objectives and also developing a business plan. In the above report, it is clearly tried to
make the learner understand that marketing is known to be one of the most important aspects of
any business. All the work that has been done in order to make the business work would be
wasted or not much profit would be made if there is not any proper marketing done in order to
promote the business. With the help of this essay we have try to illustrated the vital role of
marketing strategies for not only the marketing unit but other business units as well. We
described how marketing can guide the departments like financial, human resource etc. There
are many ways of marketing a product such as mouth publicity, hoardings, advertisements,
pamphlets etc . Some of the question would also be answered in this whole process such as
Compare the ways in which different organizations apply the marketing mix to the marketing
planning process to achieve business objectives along with many other questions.

References
 Wirtz, J., Tuzovic, S and Kupplewiser, V. 2015, The Role of Marketing in Todays’
Enterprises. Journal of Service Management. 25(3). Pp. 1-39
 Vivekananth, A., 2015, Role of Marketing in Modern Organization. International Journal
of Management. 6(1).
 Varadarajan, R., 2010, Strategic Marketing and Strategy. Journal of Academy of
Marketing Science. 38(2). Pp. 121-136
 Friesner, T., 2014. Marketing Contexts. [Online]. Marketing Teacher. Available at:
https://marketingteacher.com/marketing-contexts/. [Accessed in 28 July 2019]
 Yasanallah, P. and Vahid, P., 2012. Studying the status of Marketing mix (7Ps)
Consumer Coorporative at IIam Provice from Members Perspective. 2012(2). Pp. 194-
199
 Samani, F., S. and Toroujeni, S., M., H., 2017. Investigating Role of Marketing Mix
Elements (7Ps) and Strategic Planning in Development of Iranian English Language
Departments. International Journal of Studies in English and Literature. 3(4). Pp. 50-59