This unit is elaborating expansion plan which is exerted by marketing officer of Your Destination in order to compete with market rivals.
Learning outcomes
- Explanation of marketing role and their interrelation with other functional units of business.
- Comparison of marketing mix of Your Destination and National Express.
- Development and evaluation of a basic marketing plan for Your Destination.
INTRODUCTION
In current market scenario, marketing is identified as a significant tool that helps a company in their growth and success. Various activities are included in it which assist the manager in effective communication about goods and services to customers (Malhotra, Birks and Wills, 2013). Managers need to analyse market trends and according to that develop goods which satisfy needs and requirements of customers (Lane, 2014). Several promotional tools such as advertisement, personal selling etc are used by company to introduce their product in market. This assignment is based on “Your Destination” which offers transportation services to their customers. This report includes various roles & responsibilities of marketing functions as well as their interrelationship with various departments of company. It also includes application of marketing mix and development of marketing so that goals and objectives are can be achieved on time.
TASK 1
P1. Key Roles and Responsibilities of Marketing Function
Marketing is an important role for every business that assists in its growth and success. It renders an opportunity to communicate with market. Various responsibilities are associated with this function that helps in growth of company. Major duty of the function includes distribution system, selling, financing, pricing, promotion, marketing information system and product. All these are linked closely with other functions of company. Major marketing responsibilities of Your Destination can be understood by different points mentioned below:
Product
It is one of the functions that are associated with manufacturing and offers goods and services to customers in order to satisfy their needs and wants. A product is a combination of physical and intangible features that a business enterprise offers to their customers with the aim of satisfying their needs (Al-Ekam and et. al., 2012). The department of marketing conduct research for collecting all information and data regarding various features that should be available in a product. They examine market trends, behaviours and attitudes of customers in order to make the product more attractive. This will help in increasing profits as well as productivity of company.
Selling
It is another role of marketing function in which various tools are used by manager to collect all information and data regarding market trends. This collected data helps them in framing effective strategies and policies that assist in increased sales of goods of company. It emphasize on making more convenient to deliver final goods to customers. Distribution tools are analysed by manager and effective one is selected to make availability of product at every store. Some cost effective channels are utilised by company for maintaining low price of goods. Marketing managers use various strategies in order to attract customers more towards the product.
Pricing
It is an element by which a firm set prices of their products. Some amount is charged by every company in turn of providing their products to customers (Martin, Campbell and Harmsen, 2014). Prices of product are set by keeping in view all the costs that are incur in manufacturing of product. Sales target at set by marketing managers and attractive prices are set so that large number of customers can be attracted towards a product. Setting right price of product assists the company in increasing its profitability ratios and revenues.
Promotion
It is one of the essential functions of marketing that highly contributes in the growth of company. For offering any product in market, promotion is required. Effective publicity helps in attaining higher sales. Various tools and methods of communication are identified by marketing managers and then appropriate tool is selected for promoting their product in market. By the help of promotional tools, a firm can communicate values and benefits of their goods to customers effectively (Baker and Magnini, 2016). Publicity, sales promotion, advertisement, personal selling are the ways to market goods and services. Use of these tools help the company in creating demand of product in market. This is the mean aim of promotion and helps in attaining high profitability.
Financing
It is an important component that is required for running day-to-day operations of business. All success of a company relies on finance. Therefore, it is important for managers to maintain adequate amount of finance so that all operations and activities of company can be successfully performed. For marketing of any product, finance is required. Marketing manager formulate plan and define budget to carry out the same. All this render an opportunity to company to serve large group of customers.
Distribution
This function is related to transfer of goods and services from one place to another so that customers can access that. Various distribution channels are used by company for distributing their services. This is done for ensuring timely delivery of goods and at the same time reducing cost. Selection of right distribution channel helps a company in delivering their goods and services to customers on time which put positive impact on mind of customers and help in maintaining good image in market.
Marketing Information System
The system is used by managers so that all data and information are collected about market trends needs and preferences of customers. The system provides an opportunity to company to store all the data regarding their potential customers. It helps the manager in making effective decisions about business. By this, a large customer base is created by company and gets benefit in competitive market (Campbell and Martin, 2015).
All the above-mentioned points are the major roles and responsibilities of functions of marketing of Your Destination and must be carried out an effective way so that high growth and success can be attained.
P2. Interrelationship of roles and responsibilities to wider organizational context
Roles and responsibilities of marketing division are interrelated with other departments of company. Activities and functions of this department is highly length with others. In order to collect proper information about market trends, a marketing manager conduct research.
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