Marketing Essentials: Roles, Responsibilities, and Strategies Report

This report delves into the core principles of marketing, emphasizing the essential functions and strategies employed by Wilkinson to enhance its market share. It begins by outlining the roles and responsibilities of the marketing function, including market research, promotion, distribution, and marketing information management. The report further explores how marketing interrelates with other organizational units, such as finance, sales, production, and human resources, highlighting the direct and indirect impacts of marketing activities on these departments. The analysis includes the application of the marketing mix in planning, the different tactics used by companies to achieve their business objectives, and the development and evaluation of a basic marketing plan for a company. The report concludes with a comprehensive assessment of marketing's significance in achieving organizational goals, with specific reference to Wilkinson's marketing practices.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO1..................................................................................................................................................1
P1. Roles and responsibilities of marketing function.............................................................1
P2. Roles and responsibilities of marketing relating to the wider organisational context ....3
M1. Roles and responsibilities of marketing with reference to marketing environment.......6
D1 Key elements of marketing function and their interrelationship with other functional units.
..............................................................................................................................................10
M2. Significance of interrelationship between marketing and other functional units.........10
LO2................................................................................................................................................11
P3 Marketing mix can be applied to marketing planning process. ......................................11
M3. Different tactics applied by company to achieve business objectives..........................15
LO3................................................................................................................................................16
P4. Produce and evaluate basic marketing plan for company..............................................16
CONCLUSION..............................................................................................................................25
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing is one of the major business activities which is related with selling of goods to
final customers. An organisation’s main aim is to develop and produce that product which is in
high demand from the side of customers. Marketing essentials can be defined as all the major
functions which have been performed with the help of marketing tools. Important factors that are
included in marketing essentials are market strategies, research and positioning, competitive
analysis, budgeting and so on. This is the reason, it is important for each and every company to
use the best marketing strategies with which they can achieve their targets (Archpru, Akaka and
Chandler, 2011). This report is mainly based upon the implementation of major marketing
strategies of Wilkinson in order to increase their market shares. It can only be achieved once the
company will use all elements of marketing essentials. Thus, Wilkinson needs to be aware of the
tactics of marketing in order to gain maximum number of market shares. It also underlines the
roles and responsibility of marketing and its interrelationship with other functional units.
LO1
P1. Roles and responsibilities of marketing function
Marketing is one of the core functions of any organisation. In context of Wilkinson which
mainly deals in household goods and home-wares, firm needs to adopt essential marketing
strategies with the help of which they can capture maximum market share. Marketing is one of
the crucial functions of company in order to deliver the best products and services to customers
by using a number of methods, techniques or concepts (Jones, and Rowley, 2011). Its major roles
and responsibilities can be defined as follows:
 Market Research- It can be very well estimated that before the establishment of any
organisation, there are so many important tasks that have to be performed. In other
words, a set of things needs to be done prior commencing the business. Market research
is one of the top most responsibilities of marketing functions (Berthon and et. al., 2012).
This is related with a broader aspect of marketing. It is requited by the Wilkinson to
conduct a market research in such a manner that they can find out the potential
customers. This will also lead to develop and create a set of ideas upon which the major
trend of market can be estimated. It is also very important to know the level of
competition and their major strengths and this can all tapped by conducting market
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research. This will further help the company to take decision and formulate strategies for
their business plans. There can be various purpose of conducing market research.
On the basis of organisation's goals, objective, mission, vision and target, a market
research needs to be done (Menegaki, 2012). This will lead to evaluate a number of perspective
for which the entire market research has been conducted. It is considered as the core
responsibility that is being performed by marketing department. As far as Wilkinson is
concerned, it is required to conduct a market research in order to estimate the ways by which
they can attain maximum market shares. This will be done by their marketing department
(Bibeau and et. al., 2012). All the major steps of this department has been taken by their
marketing manager. It plays a major role in determining ways by which company can shine in
market by producing the best quality products and services for customers. This will also lead to
create a strong brand image of the organisation as well as company will be able to achieve its
target goals in the most effective manner.
 Promotion- Second most important role that is being performed by the marketing
department is the way by which company promotes their products and services. It has
been very well said that a product would not be recognised by the consumer irrespective
of its benefit until and unless it is promoted by company with the help of some major
methods and techniques. Thus, promotion holds an important position in estimating the
success of the company (Digital marketing essentials, 2017). There are various tools of
promotion such as advertising through social media, television, newspaper, magazines
etc. With the help of various promotional techniques, customers will be able to know
about the basic features and benefit of the products served by Wilkinson. This solves the
purpose of organisation for which they are in the market. Getting maximum number of
market shares and profit will lead to make the company more strong in the industry. This
will help to provide them the stability with which they can expand their market capture.
 Distribution- This is again a very important role that is being performed by head of
marketing. It is related with the medium through which products gets delivered to the
customers. There can be several modes of distribution depending upon company's aim
and objective. Channel of distribution helps the company to ensure that products are
reaching to the right customers without wastage of time (Blythe, 2012). There are a series
of steps involved in determining and setting up right distribution channel for Wilkinson.
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The very first step is to evaluate the basis of which customer will buy the products and
services. This is certainly done under the guidelines of marketing manager. Second phase
is to match needs and wants of the final customers to the selected distribution strategy.
Next step is to select the best type of channel as per company's goals and objectives. In
the fourth step, company needs to find out distribution partner and in the last step cited
organisation needs to manage selected channel.
 Marketing Information management: Gathered information after the market research
needs to be managed properly. Other market information includes data regarding
competitors, market environment etc. It can be utilised for formulating future business
plans. It is role of marketing team to gather and evaluate this information so that it could
assist decision making process.
 Product and service management: There must be effective management of company's
product and services so that value can be added to it. It relates to designing, developing,
maintaining and improving quality of services and products. It includes all essential
measures so that offered product catalogue can be changed.
 Pricing: In order to attract large number of people towards company’s product and
services proper pricing needs to be done. It is their important role to do attractive pricing.
It is done after evaluation of competitor’s strategy.
Thus, on the basis of above major roles associated with marketing functions, it can be
very well estimated that marketing plays an important role in determining the success of the
company in market. This will lead to develop ways by which company's products and services
reaches to the customer in the most effective manner (Cherian and Jacob, 2012). There are many
functions of marketing other than distribution, market research and promotion which equally
plays crucial role in fostering the effectiveness if the organisation in the market.
P2. Roles and responsibilities of marketing relating to the wider organisational context
As discussed above, functions of marketing plays a major role in order to maintain
company's best performance in the market. Apart from the major areas that is being covered
under marketing, it has been noticed that it also affects other functional unit of mentioned
company that is Wilkinson. Task such as advertising, pricing, selling and many more directly
affect other major functions of the company as well (Yi and Gong, 2013). Given below are some
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of the ways by which marketing functions can be evaluated on the major ground of other
functions of organisation.
 Direct link between market research and finance department- As stated above,
market research has been conducted by Wilkinson in order to measure some or the other
information. First it will help the company to find out the latest trend in the market. They
will also evaluate their rivalry's budget and performance. Basic requirement of the market
and customers are evaluated with help of market research. On the other side finance
department is responsible for ensuring adequate amount of funds so that all the resources
can be arranged. Thus, it can be very well estimated that the functions such as market
research that is being performed by marketing department directly affects finance as well
as other department of the company (Gordon, 2012). Finance department on the basis of
record being collected by market research will make such budget which can be easily
implemented. Market research will not only help the finance department but it also leaves
some major impact on the rest of the functions performed within the organisation.
 Promotion will help the sales department- As stated above, promotion is the most
important tool of an organisation which can ensure popularity of products and services
among potential customers. Company used several forms of promotion in order to get
best public response. This helps the consumer to get fully aware about the benefits and
advantages of using some particular product. On the other side, sales department is
responsible for taking all the major decision which can enhanced the sales margin for the
company. Various techniques that is being used under sales will be affected by
promotion. There can be some alteration or replacement of methods and tools used in
sales department on the basis of promotion. Thus, it can be easily evaluated that
promotion being one of the core functions of marketing will help the other department of
the company like sales to work in the most effective manner (Hays, Page and Buhalis,
2013). That is why, it is required by the Wilkinson to understand the importance of
marketing team. With the help of various promotional techniques, Wilkinson would be
able to direct their sales department in such a way that they can take best possible
decision. This will improve the sales of company. In this way, organisation will be able to
get best possible position in the market and its efficiency will also increase.
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 Distribution will affect the production department- It is evaluated above that
distribution is an important task that comes under the head of marketing department. It is
related with choosing best medium with the help of which products and services can be
reached to the final customers. There can be different modes of distribution that will
entirely depends upon the goal and objective of the organisation. On the other side,
production department is responsible for producing desired products for company. The
level of production depends upon the results that has been drawn from distribution
(Wirtz, 2012). Customer requirement can only be estimated once company has done
distribution of its products. Wilkinson have taken several steps in order to track its
distribution of products because it will further help the production department to estimate
amount of production for the next session. On the basis of outcomes that is recorded after
distribution of product and services, company can note down the needs and wants of the
customer at a time. Then according to this, production department will make product and
services without any delays. This will keep a pace in all the work that is being performed
in the organisation.
 Human resource department: Role of the HR department is to recruit and select staffs
as per the requirements of every department. Training needs to be provided to every staff
so that their effectiveness increases. Marketing department ensures most suited employee
are in business as per the company's demand.
 Information and communication department: Use of IT services has increased in the
business procedures. It is important for the marketing team to make use of technology so
as to reach to larger set of people. It ensures proper flow of information at various levels
(Mintz and Currim, 2013). Use of web based emails can help in communicating with
potential customers.
Thus, on the basis of above, it can be estimated that marketing is the core function of any
organisation. There are various roles and responsibilities associated with marketing department.
For example- selling, advertising, promotion, market research, distribution and many more
(Huang and Sarigöllü, 2014). These function plays a major role in affecting other important area
of organisation. As market research will help finance department to take various decisions on the
basis of the outcomes derived from market research. Promotion with the help of various
technique and tools will affect sales department. Their decision will be based upon the broader
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impact of promotion on the company. Distribution is again a very important task of an
organisation (Möller, 2013). It is related with delivering product and services to the target
customers. Distribution will help the production department to produce the exact amount of
product that is required at a particular moment of time.
M1. Roles and responsibilities of marketing with reference to marketing environment
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D1 Key elements of marketing function and their interrelationship with other functional units.
For the growth of an organisation there must be proper interrelationship with other
functional units. Key elements of marketing involves using proper marketing mix. Product
development in marketing is essential for its effectiveness. It also shapes the decisions of other
departments. Effective promotion leads to good sales. Research and development department is
highly effected by the product pricing done by the company. Budgeting of different functional
unit is done by financial department which takes assistance from marketing department.
M2. Significance of interrelationship between marketing and other functional units
Interrelationship of marketing with other functional units is highly significant. Its value
can be understood through these points:
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