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Marketing Essentials
Prepared by
GBD18551
August 5, 2019
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ASSIGNMENT 1 FRONT SHEET
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Table of Contents
I. Introduction .............................................................................................................................................. 5
II. The key roles and responsibilities of the marketing function ............................................................ 6
1. The definition of Marketing ................................................................................................................. 6
2. The role and responsibilities of the marketing functions and operations ..................................... 6
2.1. Applying customer-centric approach ........................................................................................... 9
2.2. Keeping up with the competition .................................................................................................. 9
2.3. Branding ........................................................................................................................................ 10
2.4. Finding the Right Partners ........................................................................................................... 10
2.5. Being creative and innovative ..................................................................................................... 10
2.6. Managing Research ...................................................................................................................... 11
2.7. Managing Strategy ........................................................................................................................ 11
2.8. Managing Events........................................................................................................................... 11
3. Overview of marketing processes .................................................................................................... 12
4. Basic concepts about marketing ...................................................................................................... 17
4.1. Production concept ...................................................................................................................... 17
4.2. Product concept ............................................................................................................................ 17
4.3. Selling concept .............................................................................................................................. 17
4.4. Marketing concept ........................................................................................................................ 18
4.5. Societal marketing concept ......................................................................................................... 18
4.6. Sustainable marketing concept ................................................................................................... 18
5. Marketing in B2B and B2C ................................................................................................................ 19
5.1. Definition ........................................................................................................................................ 19
5.2. The different roles of marketing within both a B2B and B2C context ..................................... 19
III. The interrelationships between marketing functions and other functional units of an
organization ............................................................................................................................................... 21
1. The importance of links between the marketing functions of an industrial organization .......... 21
2. Marketing and Finance ...................................................................................................................... 21
3. Marketing and Production ................................................................................................................. 22
4. Marketing and Procurement ............................................................................................................. 23
5. Marketing and Research & Development ........................................................................................ 23
6. Marketing and Personnel .................................................................................................................. 24
IV. The interrelationship in the wider organization context of the marketing environment .............. 24
1. The microenvironment ...................................................................................................................... 24
2. The macroenvironment ..................................................................................................................... 25
V. Conclusion ............................................................................................................................................ 26
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I. Introduction
Nowadays in this modern life, people already know that marketing spreads widely and
has recognized as a special management function just like organizing, staffing,
financing, and producing in business organization. Marketing is responsible for
generating revenue and contributing directly towards growth of the organization.
This report will explain how marketing is the key function of management and
business, also analyze and evaluate the roles and responsibilities of the marketing
function.
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II. The key roles and responsibilities of the marketing function
1. The definition of Marketing:
The organization of a marketing department does not have a difficult and quick
rule, which depends completely on the business' requirements, its size and the
amount of cash it wishes to spend on marketing. But in big company activity, a
typical marketing department is structured as follows:
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Marketing Director: The person responsible for all the marketing strategies
developed and enforced in this position. He supports the company's CMO with
his duties.
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Social Media Expert / Creative services: A business benefits from the services
of Social Media Experts (SMEs) and creative services as the internet becomes a
significant marketing player. While SMEs focus on marketing the business and its
service on the internet so that more people become aware of it, creative services
take care of designing and presenting part of the business, this includes
websites, web pages, brochures, booklets, flyers, advertisements, mailers and e-
mailers, and any other promotional material that the marketing department
requires. The Marketing Manager is reported by creative services and social
media marketing and works under him.
Martin (2015), also said that the Department of Marketing has an enormous duty
to make a company feasible and lucrative. This requires to be done by generating
awareness, engaging clients, investigating rivals and their product, preparing
promotional activities and materials, and a host of other duties. The marketing
department is like any organization's jack of all trades. Anything that is not handled
by other departments is handled by the marketing department. When we look at the
marketing department's duties in-depth, it becomes very evident why it is the main
department of any organization without which profitability would be very hard for
the company.
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2.1. Applying customer-centric approach:
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2.3. Branding:
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brand and product in order to generate additional revenue for the company. The
marketing department often takes the help of outside partners to fulfill all of its
responsibilities.
The marketing department is also responsible for managing research for the
business. This involves research on the competitors' goods, marketing strategies,
strengths, and clients compared to the company's. The Marketing Department
also offers input on a product's pricing.
Managing events also fall within the scope of the marketing department's
responsibilities. This includes promotional events, exhibitions, seminars, sessions
of training, meetings, conventions, etc.
Therefore, we can see that the marketing department is essential not only to
position and promote a product but also to provide the organization with vital
information on all elements of the company. It is, and can not be dispensed with,
any organization's main department. Even in tough times, the marketing
department can’t be stopped by a company. On the other side, the marketing
department is the main player in pulling a company out of trouble and putting it
back on the road to profitability.
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3. Overview of marketing processes:
A strategic plan identifies business goals, the marketplace competes in, the target
audience, the desire to achieve them, and how to evaluate success. A strategic
marketing plan is not a static document that is thrown into a drawer once it is written.
Instead, a plan is a living document that guides the work and is frequently updated to
reflect changes in the business, customers, and competition (Joe Weller, 2017).
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An obvious process for marketing planning (Smartsheep Inc., 2017)
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SWOT Analysis (Smartsheet Inc., 2017)
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5C Analysis (Smartsheet Inc., 2017)
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PEST Analysis (Smartsheet Inc., 2017)
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4. Basic concepts about marketing:
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5. Marketing in B2B and B2C:
5.1. Definition:
5.2. The different roles of marketing within both a B2B and B2C context:
More complex and longer buying Single-step buying process, often short
process
The aim is to turn prospects into buying Emotional considerations affect buying
customers behavior
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10 differences between B2B and B2C marketing (Elisabet Parera, 2015)
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III. The interrelationships between marketing functions and other
functional units of an organization
1. The importance of links between the marketing functions of an industrial
organization:
All marketing plans should have a major financial dimension. All required elements
of the marketing plan are price and profit evolution (for the brand, product, product
line, etc.) expressed in financial units or proportion of revenues, budgets required to
execute policies and marketing plans.
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Links in interrelations between Marketing and Finance (CROSS-FUNCTIONAL
LINKAGES BETWEEN MARKETING AND THE OTHER BUSINESS FUNCTIONS
IN AN INDUSTRIAL ORGANIZATION, 2012)
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4. Marketing and Procurement:
The procurement function has become one of the most important functions of an
industrial organization during times of raw material shortage. Many companies have
been forced to modify their products to cope with the lack of raw materials or replace
them with easier to obtain or cheaper.
Any organization's Research & Development (R&D) effort must be strongly related
to the organization's marketing and product development initiatives. Ignoring the
connections between R&D and marketing has led to the development of many
technology-oriented businesses that are the dream of the engineer and the
nightmare of the marketer. To avoid an R&D effort which is detached from relevant
marketing input, it is essential to understand the interrelationship between the two.
Links and interrelations between Marketing and Research & Development (CROSS-
FUNCTIONAL LINKAGES BETWEEN MARKETING AND THE OTHER BUSINESS
FUNCTIONS IN AN INDUSTRIAL ORGANIZATION, 2012)
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6. Marketing and Personnel:
1. The microenvironment:
The microenvironment relates to the forces close to the company that influences
their capacity to serve their clients. It directly affects the organization.
2. The macroenvironment:
The external environment factors of the setting are uncontrollable and it is difficult
for the business to deal with external factors.
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policies, and financial nature, financial assets, trade cycles, income and
wealth distribution.
Natural Environment includes the natural resources required by marketers
as inputs or influenced by marketing operations. Marketers should be
conscious of various trends in the natural environment.
Technological Environment are perhaps the most dramatic forces that are
rapidly changing. These macroenvironmental forces provide marketers with
new products, new markets, and marketing opportunities.
Political Environment involves government activities, government laws,
public policies, and acts that influence a company's or business' activities. On
a local, regional, national or global level, these forces may influence an
organization.
So marketers and business management are paying close attention to the
political forces to judge how their company will be affected by public actions.
Cultural Environment also impacts a business's marketing strategy in
heritage, lifestyles, religion, etc.
Social responsibility also becomes the marketing component and is slowly
emerging in the literature on marketing. Socially responsible marketing is that
companies should take the lead in eliminating socially damaging products.
V. Conclusion
This report explains and defines the roles and responsibilities of marketing and how
they communicate with other functional organizational units, defining the impact on
marketing activities of the external environment. Furthermore, it also referred to the
distinct positions of company units and the interconnections between functional units
and marketing.
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Source:
- MBA Crystal Ball. (2019). Introduction to Marketing Concepts | MBA Crystal Ball.
[online]
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- Lessard, K. (2019). What Is B2B Marketing: Definition, Strategy, and Trends. [online]
- Parera, E. (2019). B2B marketing and B2C marketing: everything you need to know.
[online]
- Weller, J. (2019). Here’s How the Marketing Process Works | Smartsheet. [online]
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- Scientificbulletin.upb.ro. (2019). CROSS-FUNCTIONAL LINKAGES BETWEEN
MARKETING AND THE OTHER BUSINESS FUNCTIONS IN AN INDUSTRIAL
ORGANIZATION. [online]
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