This statement focuses on various marketing knowledge branches like interrelation of marketing with other functional units, right mixture of 7p's to achieve organisational objective and developing a marketing plan to increase market share of company in market. These all goals are achieved by addressing following areas:
- Illustrate role of marketing and its relationship with other departments of TK-MAX.
- Analyse 7P's of marketing mix of company that they have adopted to achieve their goal.
- Suggest a detailed marketing plan in order to increase market share of TK-MAX.
To maintain the marketing importance and requirements are very necessary for every business to manage and control strategy to helping in increase profitability. The format will cover with character and duty of the marketing functions and surroundings along with relation between marketing and other different units. In this report, discussion will considered in marketing mix model and different plan of action in succeed desired goals and objectives. Finally all over, the general marketing plan, logical evidence based on plan and strategic marketing plan will be explained.
A. Key roles and responsibilities of the marketing functions related to wider organisational context
Marketing function plays an important role to promote the industry and reach at their goals or targets. The marketing function including various types of methods such as performing market research, product development, and producing a marketing plan. Also including, advertising, promotion, distribution for sale, customer service and public relations. Depend on the company, the responsibility of the marketing department may include one or more of the following:
Concluding campaign management for marketing initiatives: In the organisation, goods and services is conducting campaign to promote.
Monitoring and managing: To manage and maintain their accounts on internet, the marketing function is contribute in it.
Conducting customer and market research: In the organisation, research helps in to define and focused to their targets of markets and opportunities.
Strategic marketing: To promote a company’s name in the market in a positive way is can define a strategic marketing.
All over the functions, operates individually in the industry to meets the needs of the company customers. To promote a name for the company in a positive way marketing functions can apply different new and innovative ideas in the market. Gathering and investigating several market information by through currently in trend in the market is also marketing function which can be deny by the company.
B. Key roles and responsibilities of the marketing related to wider organizational context
Formulation of marketing strategy and plan is key responsibilities of marketer which helps him in accomplishing in aim objectives. Determine the needs of customer and provide them the same through or improving the goods or services providing high values to the customers is the measure role of a marketing manager. Four levels can take place in strategic planning such as: corporate, division, business unit and product. MIS (marketing information system) supply the needed information and distributes in a timely manner to the marketing manager which is needed for product investigate, its planning and implementation, and for controlling responsibilities. The company can’t connect with everyone in a huge and diverse market. The company should be focused on one type of community of users to do work efficiently. This behaviour is depend on deep require decisions. The balance of competitor monitoring and consumer have to maintain the balance in marketing managers. By taking and knowing the knowledge of the ideas in the market which is new is very helpful to organisation competitor to enable the design its marketing strategy.
C. Analysing the roles and responsibilities of marketing in context of marketing environment
Advertising supervisor is somebody whose undertaking is essentially to animate request. The promoting chief needs to comprehend both the smaller scale and large scale situations encompassing the organization. The Marketing Environment incorporates the internal components such as representatives, clients, investors, retailers and wholesalers, and so on as well as the External elements (political, legitimate, social, mechanical, and financial) that encompass the business and impact its promoting tasks. Firms must be very much aware of its showcasing condition in which it is working to beat the negative effect the earth factors are forcing on association's advertising exercises. Recognize drifts and changing over them into circumstances is the primary duty of the showcasing of the organization.
With the changing worldwide situation, advertisers must screen six noteworthy natural powers. They can incorporate statistic, monetary, human science social, common, mechanical, political and lawful powers. Notwithstanding advertising condition, directors additionally require organization particular information. Particular learning can be identified with their item, organization's market, target shopper gathering and reaction to their correspondence efforts. Making client esteem, fulfilment and reliability. Part and obligations of showcasing in setting with advertising condition can incorporate brand value, managing rivalry, setting item procedure, outlining and overseeing coordinated promoting correspondence, and so forth.