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ASSIGNMENT 1

Marketing Essentials

Prepared by

Nguyen Thi Hien Thao

GBD18551

August 5, 2019

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ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 2 Marketing Essentials

Submission date Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student Name NGUYEN THI HIEN THAO Student ID GBD18551

Class GBD0825.1 Assessor name NGUYEN PHUONG DUNG

Student declaration

I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that making a
false declaration is a form of malpractice.

Student’s signature Thao

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Internal Verifier’s Comments:

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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:

Marketing is a business function and a set of procedures engaged in generating,


providing and communicating value to clients, followed by customer relationship
management, leading in mutual advantage for the company and its stakeholders.
Marketing is also the science of choosing target markets through market analysis and
segmentation, with extensive purchasing behavior information aimed at delivering the
highest value to the client (MBA Crystal Ball, n.d).

2. The role and responsibilities of the marketing functions and operations:

According to Martin (2015), any company's marketing department is accountable


for encouraging the company's goods, thoughts and mission, discovering fresh
clients, and reminding current clients that you are in the company. It organizes all
marketing and promotion-related operations. It may consist of a single person or a
group of individuals working in a hierarchical structure who are accountable for
bringing to the attention of their targeted clients the company item. Since this
department is the key to your company and income, it needs individuals who have
the ability to deal with individuals and understand what they need.

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:

Chief Marketing Officer: This is the individual in charge of the marketing


department who is at the top of the pyramid. CMO's obligations lie in making
decisions within the process of developing the main marketing strategies and
running the marketing department. CMO is also responsible for the outcomes of
marketing policies to the Board of Directors or the Management.

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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.

Vice President Marketing: He is answerable to the Director Marketing. He is


responsible for the execution of the organization's marketing policies. He
operates with the Marketing Manager to define the policies, messages, and
media to be used for marketing.

Marketing Manager: Marketing Manager works under the Vice President


Marketing and assists him in implementing all marketing strategies including
developing marketing messages or advertisements, selecting the medium to
display messages that could include print media, TV, banners and hoarding,
website and social media marketing, etc. Also accountable for handling the other
department staff is a Marketing Manager. Depending on the size and
requirements of the business, there may be one or more marketing managers.

Marketing Analyst or Researchers: These people are accountable for research


and evaluation that drives the department of marketing and guides its marketing
strategies by finding out about the target clients and the business competition.
Marketing Analysts use marketing instruments like surveys or studies to find data
that can be helpful for marketing purposes. They report to the manager of
marketing.

Public Relations: Public Relations Officer is responsible for maintaining the


company's reputation and goodwill. His task is to build customer knowledge and
attempt to affect their thinking and actions. To construct the profile of the
company, PRO utilizes media management and communication. The PRO
operates and reports to him under the Marketing Manager.

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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.

Marketing Coordinator: Coordinates all of the marketing department's different


segments and manages publicity and marketing campaigns. Marketing
Coordinator is accountable for monitoring sales information, keeping an inventory
of advertising content, planning activities, reporting, etc. They operate with and
help the Marketing Manager.

Marketing assistant: Assists the marketing manager and reports to operate a m


arketing department's day-to-day company. Performs the administrative job
needed to run the department smoothly.

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:

The Marketing Department needs to have a relationship with the customer so


that they can understand the demand from the business of the customers and
thus aim to satisfy those demands. Customer feedback is an important part of
marketing, and to get feedback from customers and prospects, companies need
to carry out surveys. There are two methods of understanding client requirements
and focusing company operations to represent client requirements; these are
through inner channels by receiving client preferences and feedback from the
marketing department and customer service department. This can be achieved
through data analysis and in-house surveys. The other way to gather data is
through external channels, through social media and web interaction. In the end,
when interacting with the business, the aim should be to provide the client with a
precious and pleasant experience.

2.2. Keeping up with the competition:

The marketing department is also responsible for researching the competition


and keeping up with them in order to know what they are doing, what products
they are launching, what the competitors ' weaknesses are and how to avoid
making the same mistakes as the competitors. It is also important to understand
how the firm is positioned in comparison to its rivals, why the clients prefer the
other businesses, what clients the rivals are aiming for, and the connection they
have with their clients. Once all this data is accessible, the marketing department
can evaluate it and generate a better plan for the company's marketing and client
relationships.

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2.3. Branding:

A brand is a company's identity. It is the practice of establishing a name, design


or symbol which indicates a specific product or company and distinguishes it from
other comparable products or companies. Branding helps improve a business's
picture and make it more credible, generate an emotionally favorable reaction
from the crowd, motivate the audience to purchase and build allegiance for the
brand and its products. It is the advertising department's responsibility to generate
and encourage a brand through pictures, words, thoughts, and promises of client
advantages. All company employees must continuously and regularly deliver the
message to the public.

2.4. Finding the Right Partners:

All organizations' marketing department can’t be sufficiently extensive to meet all


the organization's marketing needs. To bring a business the full range of
marketing tools and expertise, hiring specific expertise and people from outside
the organization is often essential. It is important to find the right partners who
understand the organization's philosophy and needs. It is the marketing
department's job to identify, hire and oversee these partners in order to provide
the business with the best value. These strategic partners could be advertising
agencies creating and managing advertising campaigns, social media experts
managing the business side of social media marketing, web designers, data
analysts, copywriters, and other such people.

2.5. Being creative and innovative:

The department of marketing must always be on its toes. It is the marketing


department's responsibility to come up with creative ideas, whether for
promotional purposes or to create a new product. Marketing team feedback and
ideas are responsible for product policy decisions, such as whether to create new
products or improve the old ones. It also needs creative ways to position the

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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.

2.6. Managing Research:

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.

2.7. Managing Strategy:

Another responsibility of the marketing department is to manage the key


activities of a business to work together. It is the marketing department's duty to
develop and implement strategies that would enhance the company's business
activities.

2.8. Managing Events:

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).

It is essential for the company to develop a strategic marketing plan. Without


strategic thinking, it is difficult to create strategic marketing. This planning helps
explain objectives and define where the company will be in the future, eventually
reinforcing the approach. Here are the steps to a successful strategic marketing
process:

Steps to have a successful marketing process (Smartsheep Inc., 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:

Concepts about marketing

4.1. Production concept: An operational concept in which the customer


expects readily accessible and affordable products. The enterprise here
focuses on effectiveness of manufacturing, cost reductions and mass
distribution. In developing economies, this idea operates where there is a
greater need for the product than its feature (MBA Crystal Ball, n.d).
4.2. Product concept: A consumer-oriented idea in which customers expect
superior, high performance and distinctive characteristics goods. This idea
presupposes that clients are more faithful when the product meets all their
expectations and that the company strives to continuously deliver
innovative goods (MBA Crystal Ball, n.d).
4.3. Selling concept: Where the company thinks that its goods are only sold
through active promotion and sale and where the client does not react until
pushed. In brief, the company is concerned with selling rather than
producing goods that are suitable for market requirements (MBA Crystal
Ball, n.d).
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4.4. Marketing concept: Compared to the above, this idea is radical and
focuses on the target market, its needs and wishes while at the same time
offering value to its market. Unlike previous conceptual ideas, which use
push marketing to build brand loyalty, it thinks in pull marketing (MBA
Crystal Ball, n.d).
4.5. Societal marketing concept: The perfect situation where the business
strives to preserve the wellbeing of its target market and the society as a
whole with a focus on the target market and its demands, while providing
better value than its competition. This takes account of the preservation of
the environment and natural resources and minimizes the carbon footprint
(MBA Crystal Ball, n.d).
4.6. Sustainable marketing concept (or green marketing): According to Beth
Loy (2018), when a company focuses social and environmental
investments as a marketing strategy. Companies frequently are criticized
for waste, price mark-ups, and false publicity. More businesses are turning
to sustainability marketing to counteract this kind of advertising.
Sustainability marketing is a means of building relations with customers
and making them aware that they are essential and crucial to future
generations. Sustainability marketing is a major marketing strategy, while it
is a growing sector. How many businesses can modify your oil? The reason
why you choose some business over the many others there is Sustainability
Marketing.
There are five common strategies for sustainability marketing. These
include:
1. Consumer-oriented marketing
2. Customer-value marketing
3. Innovative marketing
4. Sense of mission marketing
5. Societal marketing

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5. Marketing in B2B and B2C:
5.1. Definition:

Business-to-business marketing, as the name suggests, refers to the marketing of


products or services to other businesses and organizations. It holds several key
distinctions from the consumer-oriented B2C marketing. In contrast, business-to-
consumer marketing relates to the tactics and strategies in which a business encou
rages its products and services to individuals: producing, advertising and selling
products to be used by clients in their daily lives (Michael Becker, n.d).

5.2. The different roles of marketing within both a B2B and B2C context:

Business to Business Business to Consumer

Based on relationships with business Products more important than


buyers relationships

Often small and focused market Usually larger markets

More complex and longer buying Single-step buying process, often short
process

More sophisticated buyers Less sophisticated buyers

The aim is to turn prospects into buying Emotional considerations affect buying
customers behavior

Educational element to promotion Brands very important

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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:

An important task facing the organization when developing a business plan is to


coordinate and integrate plans of different functional areas to achieve desired goals.
These plans of the functions of an organization are developed in isolation in many
cases, independent of each other, without knots at the level of input. The
development should be coordinated since the initial phase in order to achieve
integrated plans of the functions of an organization so that each function of the
organization must know and understand what the others are doing. Furthermore,
each and every one must understand the impact of these actions on customers and
the potential response of competitors when developing plans for each function. A
comprehensive understanding of marketing interrelationships with other business
tasks needs recognition of the significance of defining and understanding the nature
and magnitude of these interrelationships and conditioning.

2. Marketing and Finance:

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)

3. Marketing and Production:

There is a dual connection between marketing and production. Production


capacities, on the one side, determine the amount and type of products to be
marketed and, on the other, a more precise sales forecast for each product and
product line is crucial for effective manufacturing activities.

Links and interrelations between Marketing and Production (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.

Links and interrelations between Marketing and Procurement (CROSS-


FUNCTIONAL LINKAGES BETWEEN MARKETING AND THE OTHER BUSINESS
FUNCTIONS IN AN INDUSTRIAL ORGANIZATION, 2012)

5. Marketing and Research & Development:

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:

The organization's Personnel department is involved in hiring, training and


managing the appropriate marketing personnel. Although supported by marketing
management in this function, the primary responsibility for the process of marketing
personnel is in the hands of the personnel department in many companies. In
developing job descriptions, screening applicants and designing training programs
and incentive systems, marketing should work with the personnel department.

Links and interrelations between Marketing and Personnel (CROSS-FUNCTIONAL


LINKAGES BETWEEN MARKETING AND THE OTHER BUSINESS FUNCTIONS
IN AN INDUSTRIAL ORGANIZATION, 2012)

IV. The interrelationship in the wider organization context of the


marketing environment
The marketing environment consists of a microenvironment and a macroenvironment.
The microenvironment consists of the actors close to the company that affects its ability
to serve its customers – the company, suppliers, marketing intermediaries, customer
markets, competitors, and public. The macroenvironment consists of the larger societal
forces that affect the microenvironment – demographic, economic, natural,
technological, political, and cultural forces. (Philip Kotler, 2013)

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.

It involves the company itself, its suppliers, intermediaries in marketing, client


markets, competitors, and the general public.

The microenvironment consists of five components (iEduNote, n.d).

 The first is the internal environment of the organization — its several


departments and levels of management — as it impacts the decision-making
of marketing management.
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 The second component involves the marketing channel firms that cooperate
to generate value: providers and marketing intermediaries (intermediaries,
physical distribution firms, marketing-service agencies, financial
intermediaries).
 The third component is the five kinds of markets the organization can sell in:
customer, producer, reseller, government, and global markets.
 The fourth component consists of the competitors facing the organization.
 The fifth component consists of all the public who have a real or potential
interest in or impact on the ability of the organization to achieve its goals:
financial, media, government, citizen action, and local, general, and internal
publics.

Examples of microenvironment include customers, banks, and unions as they all


communicate with the company. Competitors also form part of the microenvironment
as they sell competing products, their activity could have a direct effect on the daily
business of the company. Some of the factors can be controlled by the company
within the microenvironment while others cannot. (Learnmarketing, n.d).

2. The macroenvironment:

Factors of the macroenvironment consisting of external forces. These external


variables greatly affect the marketing policy of the company.

The external environment factors of the setting are uncontrollable and it is difficult
for the business to deal with external factors.

According to iEduNote (n.d), the macroenvironment is consists of demographic


factors, financial factors, natural forces, factors of technology, political factors, and
cultural factors. They influence business strategy in the following ways. The
macroenvironment elements are as follows:

 Demography is the size, fate, place, age, sexuality, ethnicity, occupation,


and other statistics study of human populations. These are the very significant
variables that help the marketer split the population into various sections of
the market and target markets.
Demographic data also helps in the preparation of plans for geographic
marketing, age, and gender-wise plans.
 Economic Environment is the macro factors affecting consumer buying
power and patterns of expenditure. It involves the amount of revenue,

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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.

Examples of the macroenvironment include legislation, the economy (e.g.


recession, inflation, changes in VAT) and technological change such as the Internet.
The macroenvironment factors are uncontrollable but still affect the strategy of the
business (Learnmarketing, n.d).

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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