Your Destination is rapidly expanding their business and they are considering to hire two marketing officers in order to manage expansion plan. A memo for explaining responsibilities and strategies for execution is considered in the given scenario.
1. Explanation of different roles associated with marketing and their relation with other departments of Your Destination.
2. To compare marketing mix strategies of Your Destination and National express, and understand how it can assist them in attaining business objectives
3. Development of marketing plan of Your destination and its evaluation.
Marketing is essential tactic in every organisation which helps management to execute business operations appropriately and garb attention of people by informing them about items and services. Firm has separate departments such as human resource, finance, production, marketing, sales and R&D. This helps administration to conduct activities such that adequate items and services are delivered in marketplace and are according to needs and wants of people (Karasar and Öztürk, 2014). Present report is based on Your Destination which is popular firm established in UK and provides transportation service to people. This assignment includes information about roles and responsibilities of marketing department perform to enhance market position and image by designing attractive message and using effective promotional tools. This helps other units to execute tasks according to market conditions and deliver things in respect to taste and preference of public. Thus, accomplish goals and objectives and improve sales and profitability.
P1 Key roles and responsibilities of the marketing function
Marketing is a functional department of an organization which involves a numbers of activities like- product, pricing, place, promotion, research of consumer behavior and various approaches, pubic relation, sales, segmentation, targeting, poisoning etc. this all function help organization to inform customer about their existing and new products ,new schemes and persuade them to buy their products and services. In this all process sales is the only activity of marketing department which generate revenue for their company. In this competitive era it is compulsion to firm communicate about their new product launch to their target customer base and inform them to the essential features and benefits them. The activities and task related to marketing function is quite complicated and important for the firm. The marketing manager performs various numbers of tasks to accomplish the organizational goal respect to sales turnover and profit (Berkowitz, 2016).
Porter's five forces model: This concept is used by management to design system and execute activities in such manner that appropriate items and services are delivered by Your Destination in marketplace. These are various components which are constituents of this tactic are defined below:
Threat of entry: Your Destination require to provide appropriate things and services to consumers to position organisation higher and to make system competent to easily compete with rival firms. New firms enter into market when particular industry is making profit which impacts on functionality of firm.
Bargaining power of suppliers: Management of Your Destination construct relations with suppliers which help them to order material in respect to market conditions and demands of people.
Bargaining power of buyers: Consumers plays essential role in every organisation, so seniors require to provide items and services in respect to needs and wants of public. Your Destination provide different packages to grab attention of large number of people by giving them things in according to their budget.
Threat of substitutes: Market have variety of items which provide similar benefits and fulfil needs and wants of people in same way.
Industry rivalry: Your Destination require that management provide appropriate things and packages to attract people and influence them to choose their services in respect to competitors.
Nature of marketing: There are different views of philosopher and institution respect to term “marketing” is stated beneath:
- Marketing is an art used by the marketers.
- It is a science the various approaches and techniques used by the marketers.
- It is both art and science.
Marketing basically consists in the nature of both an art and science. The art consist the basic nature of marketers personality like person should be calm, self-motivated, enthusiastic and good communication skills also. The science consist the various approaches applied by the marketing manager while formulating and implementing marketing strategy for the company like previous year sales data, advertising and branding expenses and methods etc. today in dynamic environment the top management of Your destination company use both to get success in market.
To know more read this sample: Contemporary Developments in Business and Management
Marketing Research: It is essential process of marketing and a marketing manager goes through this to analyze the reality of their idea it is feasible for their target market and economical and beneficial in present situation and long term also. Before the launch of new product or service the number of trial steps performed by the manager at various level. A sound policy of research help firm to invest in worthful projects for the company and also provide base to other activities in terms of budget, processing time, target market, branding ,poisoning and promotion etc. (Brychkov and et. al., 2017).
Planning and formulate strategy: If a new product or services introduce in firm or modification in existing products and services then firstly analyze their feasibility on the basis of finance policy, technology, employees, production in house or out, and promotional activities, distribution channel etc.
Implementation of strategy: The Implementation of strategy of marketing is not quite easy various problems faced by the marketing team during this respect to finance, production, human resources, operations and marketing department. The all department activities are inter-related and effect to each other department operations. These are external forces eg. Political, legal, socio- cultural, technological, economical, competition etc. affect the strategy of top administration.
Segmentation, targeting and positioning: Marketing manager must have decided its segmentation and targeting approaches and according to this formulates the policy of positioning the company product and services for their target customer mind.
4 “P”s: The manager of marketing also take the decision respect to 4 “P”s these is product, price, place, promotion. Product is related the physical offering of firm or intangible offering like services. Pricing is refers to the amount charge to customer against product or services. Place is physical channel where product is available for the customer. Promotion involves the activities of firm for promotion of their product or services firm can use mass, print, electronic, digital and social media for this and various method according to company brand image in customer perspective (Lane, 2016).
Customer services: In this competitive environment a satisfied and loyal customers are company’s the most valuable assets. The challenge for the company to reach from the new customer and retain the existing customers base for this customer services during sales and after sales services make a customer loyal for the company and create a good brand image in consumers mind.
Today’s continuous changeable market marketing manager and department role is crucial and complicated. The marketing activities of organization give a chance to interact with customer mainly sales through agents and employees. The various trends of market make the managers to more aware about those changes and take necessary steps to sustain their company in this competitive era.
P2 Roles and responsibilities of marketing in relation with organisation
Marketing department is charged with responsibilities of overall demand of the company product. The marketing function is also responsible for the overall promotion and branding of company products. Organisation consists of many department and functional areas. These departments are human resource department, finance department, production and operation department, Research and development. These functions and department are coordinated in such way that optimises the organisations output in less input (Mittal, 2014). Your destination marketing department coordinates with each department to give a coordinated result for organised efforts which are described below:
Finance department: Finance department looks into the monetary transactions of the organisation. This department is majorly concerned with the income and expenditure of the organisation. It facilitates the working capital for the smooth working of day to day operations. The department looks into the matter of investment for future project. It investigates the requirement of funds for the expansion of business operations. Hence the role of finance department is very important. It is the responsibility of finance department to keep transparency in the business transaction. Marketing department coordinates with finance department for the expansion of business marketing activities. To conduct intensive research for the expansion it require budget. Once the research is completed and action plan has also selected by the organisation. The next step is to promote the company’s product. To run marketing campaign and promotion activities, marketing team needs budget for the same. The marketing department coordinates with the finance department for the required budget and estimates (Mueller and et. al., 2015).
Human resource department: The role of human resource department is to hire right candidate at right time which are competent and