Following questions need to be addressed in this report:
- Discuss about the roles and responsibilities of marketing function.
- Determine the interrelation of marketing function with other departments in TK Max.
- Compare the ways in which organisations apply marketing mix to achieve their marketing objectives.
- Develop a marketing plan for TK Max.
Marketing is an effective study of exchanging relationship by delivering quality goods and services to customers. With the help of this process company easily enhance their profitability level by serving as well as delivering quality services to its customers as per their needs. Along with this, marketing concept also helps in inviting and attracting large number of customers in relation to company products and services. Present report is based on TK Max, is American apparel and home good company. They serve clothing and bedding products to its customers (Cleverley, 2017). This report discussed about various key roles and responsibilities of marketing function in order to attain set goals and objectives in appropriate time frame. Along with this marketing mix is also mentioned in this report to create customers base. In addition of this marketing plan also discussed in this assignment which may leads in establishing strong brand image at market place.
P1 Explain key roles and responsibilities of the marketing functions
Marketing is an important concept which help business organization to attain better success at market place by creating strong customers base. With the help of this company deliver quality products and services to its customers as per their needs and wants which may enhance profitability level (Wirtz, 2012). Basically, it is an important procedure through which firm implement as well as formulate appropriate plan in order to manufacture quality products and services which may maximize the profitability level at market place. In context of TK Max, they also easily communicate with their customers towards the company products and services which aid in increasing overall sales of the firm at market place (Clow and James, 2013.). In addition of this, there are some major roles and responsibilities of marketing functions which directly contribute in improving overall performance level. All these can be understood by following points:
- Product: One of the main role of marketing function is to produce as well as deliver quality products to end customers in order to provide them better satisfaction. In context of TK Max, it is important for them to produce quality clothes and furniture to their target customers which may leads in enhancing their profitability level at market place and at the same time also capture larger market share form its rivals.
- Price: The main responsibility of marketing function is to set right price of products as per their quality and features. Basically it is monetary term through which company increase their profitability level. Price defines product quality and its value in market place. Thus it is important for marketing manager to set their product price affordable which may influence customers to buy it. With the help of this company also reduce the chances of switching customers to another company. This will aid in increasing profitability level of company (Durmaz, 2011).
- Selling: Under this, firm offer their final products to customers at affordable cost. It also influence as well as attract customers towards the company products. This process used by the company in exchange for money which may help company to improve their performance at market place and at the same time also increase productivity level.
- Promotion: It is one of the main responsibility of marketing function in which company promote their services by communicating with their customers. This will also aid in increasing public awareness towards the company and its services as well (Silver and et. al., 2012). By using effective tool of promotion company easily increase customers base which contribute in capturing larger market share form its rivals.
- Management information system (MIS): It is main duty of manager of marketing to manage all the information of company products and services. For this, manager undertake an effective research in which they easily understand customers needs and wants. Basically, it is multiple online system which aid in analysing the information in order to take right decision.
P2 Roles and Responsibilities of Marketing relate to wider organisational context
Basically, marketing is used by each and every business organization to understand as well a create customers satisfaction which directly contribute in attaining better growth level at market place (Fırat, 2013). This will aid in creating customers base which contribute in capturing larger market share form its rivals.
As per current scenario, every business organization improve their overall performance level by using marketing concept which may contribute in increasing profitability level of the company. Along with this, manager also play vital role in managing as well as implementing all the activities in effective way which may leads in capturing larger market share form its rivals. It also contribute in establishing positive image at market place. In this context, there are some main roles and responsibilities of marketing which is interrelate with organisational function. All these can be understood by following points:
Finance department with marketing function: This department of TK-MAX take various responsibilities to raise and provide necessary funds to other divisions (Gertner, 2011). Finance managers with team used to make record of every transaction in order to control expense of organisation. In context with marketing division, functions of both departments are interrelated with each other. Both are used to search distributors and suppliers from whom they can get resources and sale the same in low cost.
Sale department with marketing: Functions of sales department is also interrelates with marketing division of TK-MAX. Managers of both sections used to find demands of targeted customers on time as per their requirement. Marketing people provide in information to sales department who further used the data to enhance sales performance.
Research and development department with marketing function: This department collaborates with marketing division in order to find threats of company like presence of competitors, their strategies to attract customers and more (Pike, 2015). Along with this, both of the divisions used to identify the demands of marketplace as well as changes in trends so that they can provide services in an effective manner. The main purpose of both of these divisions is to snatch high position power from competitors and avail it for longer period of time.
Operation department with marketing function: It is one of the important function of marketing is to produce as well as manufacture quality products and services which aid in improving the performance level of the company at market place. In this manager of marketing also collect as well as gather relevant information in relation of customers and provide all the data to manufacture department. With the help of this, TK Max easily make quality products, this will aid in improving performance level of the company at market place. In this, manager also assess the marketing trends and customers preferences to effectively executing all the operational activities in appropriate way (Hamilton, 2011).