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Developing Marketing Plan for Better Performance - Bentley

University: University of Glasgow

  • Unit No: 2
  • Level: Post Graduate/University
  • Pages: 19 / Words 4666
  • Paper Type: Assignment
  • Course Code: MARK3009
  • Downloads: 129
Question :

This assessment will cover:

  1. What are the effective roles and the responsibilities for marketing functions.
  2. Explain the marketing mix of the company.
  3. What is an effective marketing plan of Bentley.
Answer :
Organization Selected : Bentley Motors Limited

INTRODUCTION

Marketing function is one of the most important for the business organization. Marketing can be considered as the process that is used by the business organization to improve the business of organization by performing actions like promotion of company product, market research and advertising of the company in market place. Bentley is a multinational organization that is manufacturing luxurious car and providing services to consumers (Baker, 2016). It was established in year 1919 by H. M. Bentley and W. O. Bentley. The Headquarter of Bentley is in United Kingdom. This report is analysing key roles of marketing function in organization, for organizational performance role of marketing department will be evaluated in study. Different ways of utilization of marketing mix for various organization will be evaluated in report. A brief marketing plan will be designed for Bentley to improve their market performance.

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P1 Roles and responsibilities of marketing functions

Marketing function is becoming more and more important for any type of business. When it comes to automobile company than it plays a vital role. In the context of Bentley Motors limited it can be said that marketing plays several roles and responsibilities as this company is a marketer of luxury cars so it is important for this company to market and introduce its products and services to target and different countries of people. Some roles and responsibilities of marketing function are described as follows:

  • Identification of customer’s needs: The preliminary work and role of marketing function is to identify needs and demands of customers. Marketing function collect several types of data like current trends, customers’ needs etc. All these information’s are required for the company to know for providing them satisfactory products and services (Wagner and Eggert, 2016). Marketing department of Bentley Motors Limited is mainly responsible for increasing sales and introducing products and services of the company. It can be happen when they get information’s.
  • Products development: By performing all those things that can help marketer in promoting and developing products of the company for which he/she works. Fr developing products and services of Bentley Motors Limited, marketer promote and introduce products to customers by 4 methods such as advertising in newspaper, television and social media platforms, personal selling, sales promotion and publicity. It gets all information’s and if it requires that the company’s current products and services cannot meet the needs of customers then it makes changes in its products by making it more innovative. By using advanced technology, marketer makes products as per the requirements and expectations of customers.
  • Promotion of channels: Promotion means to make aware to customers about services and products. Marketer develops products as well as promote channels of the company. They make customers k now that the company sell products by different modes and sources. The main aim of performing this function is to increase sales and giving all type of details to customers. The adaption of the promotional way affect the sales of the company and this decision is depend upon market. After analyzing the market conditions and getting necessary information’s, he/she takes decision and makes the marketing function more successful.
  • Adapting right price: Other main role of marketing function is to provide products to customers at affordable prices to make its products available to all types of customers. It can be done when it chooses and selects the best prices as compare to its competitors. It gives it opportunity to attract wider range of customers and retain them with the company for the long run. Pricing is called the main important element in marketing mix because it generates revenue. Marketing strategies help the company in setting the best price, incorporating appropriate changes and taking the right approach.
  • Face competition: Competition orientation is very important in today’s global market. There are several objectives of the company and taking competitive advantages is one of them. Marketing function tries to perform all those activities which can help out to Bentley Motors Limited to accomplish its all goals (Lee and Mazodier, 2015). For taking competition advantages, marketing function maintain a balance in consumers’ expectations and competitors’ offering by monitoring and evaluating the market closely. Superior services, premium products and efficient dealership are used by marketers to retain their market share, increase sales, attract wider range of customers and take competitive advantages.
  • Customers support service: Customers are called a king of market and the main aim of marketing department is to support the company and increase its sales. So, marketer tries to offer every possible help to its potential customers. For retaining customers within the company for the long run, marketer does not only provide those satisfactory services but also provide and help them post sales services. For example, after selling cars t customers, marketer provides those servicing facilities and the best guidance about maintaining products.
  • Widen market: Marketer use mass communication tools like event marketing, social media marketing, advertising etc. The main role of performing all these activities is to widen market and increase brand image of the company. By giving attracting message and information’s to customers it helps the company to expand their business as far as they want. Some promotional programmers also help the company to protect their image and products (Font and McCabe, 2017).

So, from above discussed functions and roles of marketing functions, it can be said that marketing department is crucial for Bentley Motors Limited as it has interrelationship with other departments as well. This connection and all its functions help the company to being in the competition and becoming the market leader.

Related Service: Marketing Assignment Help

P2 Roles and responsibilities of marketing in context of organization

In respect of marketing, the marketing manager had to perform different roles and responsibilities in respect of attaining the task in various department. The role and responsibilities of marketing manager in determined in respect of:

1) Marketing with HR department: In this, aspects the roles of marketing manager are examined in respect of appointing the skilled person to handle the task in better way. As if the Bentley is promoting the business through digital platform they can reach to large number of customer through their effective communication skills (Piscicelli, Cooper and Fisher, 2015). The responsibility which the marketing manager carries in respect of HR department is to hire the right person so that they can bring more benefits to the company. In context of HR department, they use the marketing procedure is respect of filling the vacancies of the person which they recruit through giving advertisement of the company (Vandekerckhove, 2016). Through this aspects, they can promote or use the concept of social media platform in which they use the advertisement mode regarding recruiting the person for particular post.

2) Marketing with Finance department: In this aspects, the role of marketing managers is determined in respect of examining the overall financial structure of the Bentley. As through this aspect they determined the marketing strategies regarding promoting the particular products. As if the company is financially string they can undertake or make budgets regarding targeting the particular segment and setting the goal to accomplish the task within the stipulated time period (Taylor, 2018). The responsibilities of the marketing manager in respect of finance department is that they reach out to customers, investors and other important stakeholder through which they manage their budgets by recommending them to invest in particular projects.

Through these aspects they undertake various aspects in respect of building strong relationship with the stakeholders. In respect of contrasting the relationship with the marketing department, it is examined in respect of through bringing the investors in market, they manage the finance of the company in better way (Kolk, 2016). If they are promoting the Bentley integrity in market, it results in getting more customer towards their products and also them attaining their products at higher level. Thus, in such manner they manage the company finance for longer time period.

3) Marketing with sales department: In this functions, the marketing is determined in respect of examining the role of marketing manager in respect of identifying the actual sales in market after promoting the products and services. As through the perspective of sales, it determines the stability of the Bentley in respect of maintain the integrity of the company in market for longer time period. Thus, marketing helps company to reach and build the strong relationship with the customer and thus by this manner they can promote the company in market (Edler and Yeow, 2016). The responsibilities of the marketing managers in respect of sales is that they had to prepare the budgets and also examined the variation if any in market price. They also had to check the expenditure which is incurred in respect of promoting the business. In respect of contrasting the sales department with the marketing function, it helps in determine the actual marketing position and retaining the customer towards the business. Through the perspective of it helps Bentley company to determine the actual working position and planning new targets to build large customer goal.

4) Marketing with research and development department: The role of marketing managers is determined in respect of undertaking various new techniques which is recently engaging in market. Through these aspects they can grab such opportunity to bring changes in their internal working. Through these aspects the role of marketing manager is determined in respect of interacting with customer regarding attaining such particular products. It helps them in building strong base with customers (Stephen, 2016). The responsibility of the marketing manager is to plan the strategies accordingly so that they can minutely examined the competitor’s strategy in respect of attracting customer towards their services. In context of R$D department, they mainly assign to track the new technologies which is floating in the global world. Thus, they can take the helps from marketing in respect of gathering wider range of information regarding dealing in particular segments. Through this manner they can build and enhances the customer needs by providing such products which are in demand.

Thus, these are various roles and responsibility of the marketing managers in respect of particular department (Armstrong and et.al, 2018). As the integrity and dignity of the Bentley are in hands of marketing department and through this effective planning they build the large customer base to retain their interest towards the service for longer time period.

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P3 Marketing Mix Used By Business Organization

There are different element of the marketing plan which is used by company to improve the marketing policy to generate higher profit from the market place. This element are generally known as marketing mix. There are total 7 element that are used in the marketing mix which are product, promotion and price. Place, people, process and physical evidence. To make the marketing strategy more effective these elements are need to be considered by the organization. By making some changes in these P’s organization can improve the performance of organization in the market place.

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Particulars Bentley Jaguar
Product Bentley sells its product under 5 broad categories of car and this allow the customer to select the product variety which suits on them. Such that it offers range of products i.e. Bentley 4 and half litre, Bentley Turbo R, Speed Six, The Azure, Mulsanne etc. By improving the product specification, features and quality Bentley can meet the marketing objectives that are made to improve the sales of company. Also provide heritage model which inclused, R-type continental, the Bentley Blue train and Bentley Blower (Brečić and Simintiras, 2016). It is the premium luxury car brand which is the part of Tata Motors. Its provide range of car model such that XK120 sports cars, XJ220 which helps to attract range of customers and maintain financial performance.
Price Pricing is a process that is used by the business organization to target different level of people from the market place. By implementing better and effective pricing can allow the Bentley to target people from higher class, and middle class (Gama and Casaca, 2019). Bentley cars are highly luxurious and that is why, its pricing strategy is high and follow competitive pricing strategy. Company adopt premium pricing strategy and the prices of Jaguar are supreme for all its range of models (Malik, 2015). As compared to its competitor, Jaguar is expensive but able to provide high performance innovation vehicle.
Place The majority of production of Bentley model is done at UK in its Crewe factory. Further it is sold in countries in USA, Canada, UAE and Australia. There are about 85% is exported around the world. The company operates its unit at different level and currently company have 20 distributors. It also places its showrooms and dealers in selected cities who distribute the product across world.
Promotion Bentley uses new technologies of marketing like digital marketing and social media marketing such that Facebook, twitter and You tube to make direct communication and connection to the consumers (Marketing mix of Bentley, 2018). The company did not practice intensive advertisement on TV but it selected short advertisement which are smooth and stylish, or easily attract range of customers.
People Bentley have a good and effective sales team who working under this to deliver the product (KM and El Megid, 2015). Further, its key people are its employees, customers, suppliers who help the firm to deliver the product and services with an effective manner. The company have range of employees as it operate in different cities. Therefore, its people are employees, managers, customers and suppliers who help the firm to meet the demand.
Physical Evidence The products (cars) which are designed to attract customers and its online website, building and factory consider as a physical evidence. The company have its building, logo, employees, advertisement which are recognized as a physical evidence.
Process The process of the company is standardized and its people make sure that proper inventory is available in the store to make delivery. Its online process is also easy and to determine the customer need, proper feedback is also taken that helps to meet the demands. The process of company is easy in which customer did not face any obstacles in payment procedure. It also offer online payment mode for their customers to make the process easy and save time as well.

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P4 Marketing plan

Executive summary: Marketing plan is the report that outlines the entire marketing strategy for the coming year. This includes an overview of the business's marketing and advertising goals which needs to be attained in the specified deadlines. Further, the marketing plan consist of company overview, aim, situational analysis, budget, monitoring and controlling methods etc.

Company overview: the marketing plan is based upon Bantley which sells range of luxurious cars to their customers at high prices because it provide good quality of product. The marketing plan also helps to introduce new marketing techniques which helps to improve its financial services.

Aim: To improve number of consumer visits of the company website and Physical store up to 30% within 6 months.

Objectives:

  • To increase the market share of Bentley up to 10% by providing range of new products.
  • To enhance the sales up to 20% by introducing new product or innovate existing products .

Situational analysis

Pestle analysis:

Political factor

Economical factor

  • Sudden change in the tax policy and foreign policies may affect Bentley overall position because company should increase the prices of cars as well. Therefore, there political stability should be maintained within a country.
  • Inflation rate may affect the prices of cars and this in turn increases the rates, but customer will not spend money. Hence, this leads to decline in sales of Bentley and decrease customer base.

Social Factor

Technological Factor

  • Bentley start focusing to produce low emission car by analyzing customer demand.
  • Further, changes in buying pattern of customer may affect the sales in adverse manner.
  • By complying with new technologies, Bentley stay ahead in the competition.
  • It also use new and sophisticated design cars to overcome the margin of industry and meet customer need.

Legal Factor

Environmental factor

  • Changes in laws and regulation affect Bentley and UK government set strict pollution norms that must be adhere by company.
  • Bentley should start producing heavy designed car that do not affect environment in negative manner and also comply with sustainability law as well.

SWOT Analysis of Bentley

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Strengths:

  • Bentley has well known status around word and its uniqueness in their vehicle is major advantages for them.
  •  The cars that are manufactured by Bentley fall in both categories of sports car and luxurious vehicle that is why, it has a high brand value in the market place.
  • Bentley do not consider marketing as major element because their focus is more on the quality of product, thus, its quality price is too high.
  • It provides superior technology products and Car design is one of best strength of Bentley (Pham, Duong and Thai, 2019).
  • Designs that are used by Bentley are different from other organizations and this makes it different from others. Further, the perception of Bentley in the mind of Consumer is related to its quality and high class product service, which is also consider as a strength

Weaknesses

  • Some of weakness of Bentley are Limited reach, long waiting and small target groups. The reach of Bentley is limited in the international market.
  •  Bentley is serving in only few nations. The production speed of Bentley is apparently slower than its demand in the market place.
  • People have to wait for longer time to buy product of company because they are producing limited number of product each year (Rowley, 2017).
  • The target audience of Bentley is limited. They are focusing limited number of people to sell their product. This is how there are some limitations Bentley is facing in the international market,

Opportunities

  • Some of main opportunities of Bentley are- Sustainability is major factor for any business organization. The process used by Bentley can be improved their sustainability which can help them to improve their image in the international market (Sheerman and Brown, 2016).
  • Merger and acquisition is also an option for Bentley because their current production strength is very low and they are producing limited number of vehicles each year which can be improved by the merger with other company or acquisition of other companies to increase the strength of the production line.
  • Better market promotion strategies can be used by the company to attract more people to buy their product in the international market.

Threats

  • Competition in the automotive sector is major problem for Bentley in the international market. There are many other companies are providing similar product and quality to the customer with effectively low price and they are producing in bulk number to earn higher profit.
  • The increasing cost of fuel in international market also a threat to Bentley in international market because it can affect the mind set of consumers.
  • This is how some threat can affect the business of Bentley in the international market.

Strategies

Various strategies can be used by Bentley to attract more consumer towards their product and services.

  1. 1. Use better market research to improve the knowledge of organization. The knowledge of organization can be improved by conducting different type of marketing research based on the target audience.
  2. 2. Improve the investment in the marketing operation Bentley can address clients more efficiently. Better implementation of marketing policies can provide higher opportunities (Piscicelli, Cooper and Fisher, 2015).
  3. 3. Improve the use of social media to make direct communication with consumers to influence them properly.

STP Approach

Segmentation

Bentley can design their product as per requirement of people from the higher middle class and higher class to generate maximum profit. Thus, its segment their customers on the basis of demographic segmentation in which they select high and middle class people.

Targeting

The current operating area of Bentley is limited. So company can look for international market to sell their products (Wilson, 2018). By making effective pricing policy company also can target people from different economy level. Thus, the target strategy used by Bentley in order to attain the aim is differentiated targeting strategy that helps to make their product different from others.

Positioning

Providing best quality and uses innovative style in its product is consider as a positioning strategy of Bentley that helps to accomplish the aim.

Budget Planning

Description

Estimated

Actual

Difference

TV Ads

125000

125500

-500

Posters

25000

24000

1000

Social Media

5000

10000

-5000

Business Cards

1500

2000

-500

Employee Expenses

25000

26000

-1000

Transportation

4500

5000

-500

Total

186000

192500

-6500

Forecasting

This marketing plan will help the organization to address more consumers through different methods (Yankah, 2015). As number of consumer will be increased for organization it will improve their business by increasing their sales performance in international market.

Marketing mix:

  • Product: Bentley offered range of products (car) such that Continental GT, Bentley Bentayga, Bentley Arnage etc. Thus, to increase the customer visit, company have to offer new products which easily attract customer.
  • Price: Company will use competitive pricing strategy in which it may change its prices after analysing its rival's pricing strategy. Therefore, it will help to attract range of customers and increases the performance.
  • Place: In order to meet the defined aim within next 6 months, Bentley will offer its products in UK so that customer may enjoy the offered services.
  • Promotion: To attract customers, company will use both modern and traditional marketing strategy that helps to reach range of customers. Further, in order to attain the aim, Bentley may uses social media and also post about new product in order to increase the customer visit.

Controlling and monitoring:

There are different measures can be consider to evaluate the success of the marketing plan. Such that company uses Benchmarking in which it set target at quarter basis in order to examine whether the aim is attain or not. Further, proper monitoring should be done on monthly basis and also make changes immediately if something found wrong.

Related Sample- Impact of Business Environmental Factors - Bentley Motors Limited

CONCLUSION

This report is concluding importance of marketing operation for Bentley. The importance of different function of the business organization has been studied in the report. Different responsibilities of marketing function in business organization has been analysed in the report. The role of marketing function is evaluated for the performance of the business organization. The marketing mix has been studied for Bentley to improve their business performance in the international market. A proper marketing plan is developed for Bentley to improve their performance in target market.

REFERENCES

  • Armstrong, G. M. and et.al., 2018. Marketing: an introduction. Pearson UK.
  • Baker, M. J., 2016. What is marketing?. In The Marketing Book (pp. 25-42). Routledge.
  • Brečić, R. and Simintiras, A., 2016. The Moderating Effect of Perceived Effectiveness of SMEs' Marketing Function on the Network Ties-Strategic Adaptiveness Relationship.
  • Edler, J. and Yeow, J., 2016. Connecting demand and supply: The role of intermediation in public procurement of innovation. Research Policy. 45(2). pp.414-426.
  • Font, X. and McCabe, S., 2017. Sustainability and marketing in tourism: its contexts, paradoxes, approaches, challenges and potential. Journal of Sustainable Tourism. 25(7). pp.869-883.
  • Gama, A. P. D. and Casaca, J.A., 2019. The balanced scorecard approach in evaluating the marketing function. International Journal of Business Excellence. 19(2). pp.267-284.
  • KM, S. and El Megid, Z. A., 2015. Studying of Marketing Communications in the Clothing Industry in Egypt. Life Science Journal. 12(5).
  • Kolk, A., 2016. The social responsibility of international business: From ethics and the environment to CSR and sustainable development. Journal of World Business. 51(1). pp.23-34.
  • Lee, R. and Mazodier, M., 2015. The roles of consumer ethnocentrism, animosity, and cosmopolitanism in sponsorship effects. European Journal of Marketing. 49(5/6). pp.919-942.
  • Malik, K., 2015. The Balanced Scorecard and its Application to the Marketing Function.
  • Pham, C. V., Duong, H. V. and Thai, M. T., 2019, November. Importance sample-based approximation algorithm for cost-aware targeted viral marketing. In International Conference on Computational Data and Social Networks (pp. 120-132). Springer, Cham.
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