Marketing Essentials Report: Functions, Interrelation and Environment

This report provides a comprehensive overview of marketing essentials, examining the roles and responsibilities of marketing functions within an organization. It explores the interrelation of various organizational departments, such as finance, human resources, production, and customer service, with marketing. The report highlights the significance of analyzing customer needs, innovating ideas, observing market trends, and effective budgeting. It also delves into the roles and responsibilities of marketing in the marketing environment, emphasizing the importance of brand values and selecting appropriate marketing tools. The report concludes with a case study of Zara, illustrating how the brand's success is attributed to strong interdepartmental relationships and strategic marketing approaches. The report also includes references to relevant academic sources.

Marketing Essentials

Table of Content
 Introduction
 Roles and responsibilities of marketing functions
 Interrelation of various organisational department with marketing
functions
 Roles and responsibilities of marketing in marketing environment.
 Interrelationships between marketing and other functional units of
the organisation
 Conclusion
 References

Introduction
Marketing means the strategy of companies or the activities they perform to promote their products to further
audiences so that customers gets attracted and engage in buying all products. There are some marketing essentials
that organization has to follow like consumer analysis which means company should know about all the needs and
desires of customers, developing products according to the feedback and so on, prices of products should be
properly set according to the demand of product.

Roles and responsibilities of marketing
functions
Analysing the customer needs: In every organisation observing customer's needs and
expectation is very important to achieve target and target of company could be clear in
employees mind. In context of Zara, they apply different strategies in company such as;
feedbacks,market surveys,online surveys and etc.

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Innovating ideas: It play huge role in management, innovation is important for
efficiency and effectiveness in organisation. In current scenario customers
expectation are high for this changes is important for productivity and profitability. In
context of Zara, it is popular brand so company must be adopt innovations and
creativity for increasing sales and productivity.

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Observing market trends and competitors: It is important function for any marketing
management in organisation because without analysing the trends and competitions in
market company can never take benefits of competition. In context of Zara, they track the
current market trends, competitors available in market and many more, it is mostly done
by external management such as PESTLE analysis and by adopt different methods and
marketing theories.

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Budgeting: It is important for every organisation to calculate the cost of marketing and
sales,so every thing under the budget of providing services and selling products. In
context of Zara, they use different cost strategies in order to maintain and manage the
budget of marketing as these tools helps the organisation to handle the budget
problems. Pricing knowledge is important so that budget can be limited and cost can be
higher according to the standard of services and products.

Interrelation of different organisational
department with marketing functions
Relationship between marketing and other departments is very much necessary
because to promote a brand proper communication is necessary. There is a
relationship between marketing and finance, marketing and human resource,
marketing and production department, marketing and research department,
marketing and customer service and marketing and information technology.
(Blomquist and Müller, 2006)

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Marketing and finance: To generate profits for the
company proper relationship is necessary between both
departments. Without finance department, promotion can't
be done as well as profits can't be generated. By doing
marketing of products huge investment is to be done so
finance department has to control the investment so that
instead of making profits they can face loss too.

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Marketing and production department: To fulfill all the needs of customers relationship
between both the departments is very much necessary as through proper relationship profits will
be increased. When a new product is to be innovated then proper research is done according to
the demand of consumers and this is possible only if there is a good relationship between both
the departments. Without creating and producing new products marketing can't be done and
production can't be done of those products that marketing department cannot sell. (Fisher, Maltz
and Jaworski, 1997)

Roles and responsibilities of marketing in
marketing environment
 Work and brand values : It is important for brand to set up
a effective value in front of all consumers whether
through effective images or other promotion techniques
 Searching for new marketing tools: While promoting any
product marketing tool should be selected at its best.

INTERRELATIONSHIPS
It is very important to have a effective relationship as there
are certain departments like operation management in
which marketing function will make each decision and
according to that competitive advantage is been set. If
there will not be a good relation then both functional
departments will not be able to achieve success.