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Importance of Marketing - TK- Max

University: Kensington College of Business London

  • Unit No: 4
  • Level: Undergraduate/College
  • Pages: 3 / Words 752
  • Paper Type: Assignment
  • Course Code: M/508/0421
  • Downloads: 841
Question :

The objective of this report is to define importance of marketing in business context. These kind of practices in an organisation will assist in developing direct connection with target customers. The analysis part of this report is based on:

  • Identify the role of marketing as well as its interrelationship with other functional divisions of TK-MAX.
  • Determine comparison between two organisation on the basis of Marketing mix.
  • Provide a strategic marketing plan of TK-MAX.
Answer :
Organization Selected : TK-MAX

INTRODUCTION

Marketing essential consider several activities and tasks that assists to perform desired results in the business unit. In this regard, aims and objectives of the business develop with marketing activities so that effectiveness also generated to focus on the creativity and innovations in the business unit (Boateng, Owusu-Bempah and Ansong, 2018). Present report is based on TK-MAX which has many store chain in different areas of the world. In these days, the company appoint new manager to increase positive results in the business to cope up with several activities and tasks. In order to gain insight information of the present report, it covers roles and responsibilities which relate to the wider organisational context. Furthermore, it explained about the roles and responsibilities of marketing that help to attain desired results in the business environment. Moreover, it helps to critically evaluate elements of the marketing functions in systematic manner.

LO1

a) How key roles and responsibilities of marketing functions relate with the wider organisational context

Marketing play very important role in the business success to produce systematic work performances. In this regard, decisions are also made to focus on the high profits and revenue that needed to perform different activities in the TK-MAX. Marketing functions includes different elements that helps to focus on the systematic and creative consideration:

  • Conduct market research: Marketing manager perform their functions and operations to focus on the market research. This is because, it helps to gain and understand systematic results and determine success in TK-MAX. Hence, manager of the chosen business need to identify their customer demand and requirement to accomplish their aims and objectives as well (Macchion, Moretto and Vinelli, 2015).
  • Development of marketing strategy: Marketing manager also responsible to determine strategy to attain more desired results in the new areas. With the help of the systematic review of goals and objectives, marketing strategy help to make competitive results at workplace. Manager plays very important role to consider competitive edge at workplace with using marketing strategy.
  • Customer relationship management: Along with this, TK-MAX need to maintain their concentration to create positive relationship in the business environment. In this way, they need to focus on the collect relevant and proper information to access customer database and attain desire results as well.

You can also read: Marketing Communication Strategy - Apple Inc.

b) How the key roles and responsibilities of the marketing relate to the wider organisational context

In the TK-MAX, marketing department consider increment in the revenue and profits to attain more desired results. Therefore, they need to identify goals and objectives that help to contribute participation to attain more desired results at workplace. In the wider organisational context, following roles and responsibilities included in systematic manner:

  • Product development: Marketing department of TK-MAX need to improve product of the company to focus on the desired results. In this way, products and services consider in different categories that help to improve performances and meet with desired results. It is the best aspect to consider development team and information to meet with the customer requirement (Macchion, Moretto and Vinelli, 2015). Hence, it makes better goals and objectives to analysis the business and increase revenue to focus on the new areas of operations.
  • Communication: In the marketing, communication is another aspect that assists to maintain effective results at workplace. In this regard, TK-MAX need to consider proper communication and development program in the market that help to maintain implement promotion activities in systematic manner (Power, Zook and Poorthuis, 2015). Marketing manager need to set budget so that they are able to make proper communication in order to attain goals and objectives. It is the best way to launch the product with communication and maintain effectiveness. Product development process in the marketing department helps to set price and prepare the budget plan for launching the product.

Determine strategies and plan: In order to attain desired results, TK-MAX need to concentrate on the strategies and plan. This is because, it assists to ascertain proper profits and revenue in the business environment. There are several activities handle by the chosen organisation that assists to fulfil roles and responsibility at workplace. In respect to consider strategies and plans, effective function

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