Marketing of goods and services are essential part of the organization because it generates revenue for the organization growth and development. It also builds relation and communication with the customers. The main role and responsibilities of an organization is that to adopt and applied different marketing approaches and theories which contribute to achieve a long-term sustainability in the market. Marketing activities have a direct impact upon the profit and sales of organization and these activities are performed by the marketing department of the organization. This project report will discuss about the role and responsibilities of marketing department in the organization in the context of Top Shop which is UK based company. Top Shop is a British Multinational fashion retailer of shoes, make-up, clothing and accessories. Top Shop has 500 shops all around world and approx. 300 shops in the UK. Its recent CEO is Ian Grabiner. It is a type of private company. This report will also discuss about the marketing mix of this organization and also formulate the marketing plans which helps the marketing department and employees to accomplish the goals and objectives in an efficiently manner.
LO 1: Explain the role of marketing and how it interrelates with other functional units of an organization by:
a) Explain how the key roles and responsibilities of the marketing function relate to the wider organizational context.
Marketing refers to the organization activities which is associated with selling and buying a goods or service. Marketing includes advertising, delivering and selling products to customers of an organization. The marketing department of the organization always try to get attention of target audiences by using packaging design, general media exposure, slogans and endorsements with the help of celebrities (Wirtz, 2012).
With the help of four P’s of marketing the Top Shop can generate more sales and profits for their company which are discussed as below:
Following there are roles and responsibilities of marketing department which are discussed as below:
It is observed that there are so many roles and responsibilities are posses by the marketing manager and its department. The marketing manager has to perform various roles and responsibilities to complete the goals within stipulated time period. Such various roles and responsibilities are defined as below:
Product: Product is the core part of an organization which provides place and goodwill to the organization in the market. But in this regard, the marketing department have a many responsibility is to offer the best products or services to their customers which is not offer by their competitors. In the case of Top Shop, the company provides shoes, make-up, clothing and accessories to their customers in the market (Nguyen and Simkin, 2012).
Distribution: Distribution includes the process of suppliers’ identification which assists the organization to supply their products in an efficiently manner to the various stores. Top Shop is the multinational company need to appoint the suppliers in different countries to make availability of their shoes, make-up, clothing and accessories (Mihart, 2012).
Promotion: Promotion includes the activities regarding products or services advertisement which enhances the sales and goodwill of an organization. The main reason to adopt this technique to provide information about the features of products to their customers. Top Shop company uses various promotional techniques to attract more and more customers to their products (Jones, and Rowley, 2011).
b) Analyse the Roles and Responsibilities of Marketing in the Context of the Marketing Environment
The marketing environment is the environment which includes the external and internal factors that surrounds the business and influence its marketing operations.
Figure: Marketing environment By Author, 2018.
The marketing environment of the organization is classified into three parts which are discussed as below:
Internal Environment: This includes all the factors that are within the organization and impacts the overall business operations. it includes inventory, labor, logistics, budget, capital assets, etc. which are the part of the organization and impacts the marketing decisions (Baker and Saren, 2016).
Micro Environment: The micro environment of marketing includes all those factors that are closely associated with the business operations and influences its functioning. It includes employees, customers, distributors and retailers, government and competitors (Dibb and Simkin, 2013).
Macro environment: The macro environment of marketing includes all those factors that exist outside the organization and cannot be controlled by the management. It includes economic, social, political, legal, etc. (Berkowitz, 2016).
c) Analyse the Significance of Interrelationships Between Marketing & Other Functional Units of an Organisation
Marketing is vital function which helps to the other department of organization is to perform their function with effectiveness. Marketing is also helping to introduce coordination in different departmental activities which minimizes the duplication of efforts and chance of mistakes. Marketing functions helps to the various departments in preparation of various policies and procedures for respective departments.
The Interrelationship of the Marketing Department with others is Discussed as below:
Marketing with HR department: The main role of human resource department within Top Shop is to hire the candidates who are knowledgeable and skillful. The skillful and knowledgeable candidates do their work in an efficiently and effectively manner which helps the organization to achieve their goals and objectives in prescribed time. By developing the effective training programs, it helps in enhancing or improving the skills through which they can use innovative technique in marketing like digitalization of marketing processes etc. (Baker and Saren, 2016).
Marketing with Finance Department: The main function of this in Top Shop, is to maintain cash flow and liquidity within the organization to perform daily functions in efficiently and effective manner. In context with the marketing department, they formed budget according to their activities and properly assign the funds which improves their productivity. This will offer the opportunity to the Top Shop management to enhance the profit margin via minimizing in the amount of unnecessary costs. The adequate amount of funds enhances the strength of marketing department and also to the finance department of the company (Jeffery, 2010).
Marketing with Operating: Top Shop is fashion retail organization which likewise designs their products like shoes, make-up, clothing and accessories. Marketing department of Top Shop convene research to identify the designs which are in trend in the market. Such kind of convenient information is further implemented by the operation department is to bring changes in their old design and cope with the new trends which are present in the competitive market. The marketing department simultaneously assists in executing of new innovations and tools inside organization for quicker designing activities of their products or services.
d) Critically Analyze and Evaluate the Key Elements of the Marketing Function and How they interrelate with other Functional units of an Organization
Marketing functions in the firm are majorly inter connected to other departments. This could be rightly said that Human Resource is somehow related to marketing department in order to recruit employees and retain them. In any organization, marketing function needs planning, research and assessment of diverse marketing strategies. These requires economic resources like planning, research and assessment of diverse marketing related strategies. Marketing functions can only work if they are having a sound communication skill. Henceforth, this is assumed that the marketing functions are inter-connected to each other which are ultimately helps to attain its pre-set goals and targets.
Link with Operational Department: Marketing department is required to work closely with production department in order to ensure that appropriate research and development is planned for satiating existing and future consumer requirements. These products could be produced to the quality and design specifications which are laid down by the consumers. Various volume of orders is produced by the marketing could be met throughout the time schedule needed for delivery. Marketing division fix deadlines which might stretch capabilities of manufacturing division.
Link with Finance Department: Marketing department work with the finance department in order to ensure that: there is an effective budget which is required to address requirements for research, promotion and distribution.
Link with Human Resource Management: This would require to work closely with HRM for ensuring that adequate skills and staffing levels are in place to research and emerge an advance goods idea, address manufacturing targets and frame a sales team.
As, this is observed that the marketing department plays a crucial role for development of company’s objectives. This would also have to balance with all other departments within the organization. These all are integrated for attaining its pre-set targets.
LO 2: Compare ways in which Organizations use Elements of the Marketing Mix to Achieve Overall Business Objectives
1) Compare the ways in which different organizations apply the marketing mix to the marketing planning process to achieve business objectives
The marketing mix is used in the marketing planning procedure to attain the organizational objectives in an appropriate manner. It is an effective tool which assists the marketers to know the product. In the marketing mix, there are seven P’s which are product, price, place, promotion, people, process and physical evidence (Wirtz, 2012). Under this, there is a comparison among the Top Shop and H&M organization.
2) Evaluate different tactics applied by organisations to demonstrate how business objectives can be achieved
The organization with their various different culture applies the tactics to achieve their respective business objectives. The Top Shop company can utilize the 7p’s of marketing mix in their marketing planning process to attain the organisational objectives. Organisation such as H&M of UK which is a competitor to Top Shop utilize a marketing segmentation process to attain the goals and objectives in an appropriate manner. The segmentation process of H&M includes the following process which are listed below:
- Firstly, they define the market for their business operations.
- Secondly, creation of market segments.
- Assessment of different segments are done for particular criteria.
- The target market is selected and evaluated.
- Evaluation and feedback process of segmentation.
But in case of Top Shop, the company can use extended marketing mix in its business operations for the achievement of goals and objectives which are discussed in 1 point.
LO 3: Develop and Evaluate a Basic Marketing Plan
1) Procedure and Evaluate a Basic Marketing plan for an Organization of your Choice
Top Shop requires to develop a clear understanding of their customers who are potential. The company should do clear research in the market and know the customer taste and preference. The marketing plan refers to an outline of the marketing components which helps the company to achieve their goals and objectives in an appropriate manner (Wirtz, 2012). By way of marketing plan, organization can ensure it whole actions in a systematic manner.
Determination of target customers is the main thing in marketing planning procedure after doing research by the marketing department. The organization must be preparing the plan and policies accordingly while considering the requirements of customers. Company must recognize their competitors which are pursuing their targeted buyers. Rivals examination causes the business to search about market patterns, advantages and disadvantages of market. Assess the examination and make techniques as per the necessities and prerequisites of market. Financial plan help in utilize all the funds available to business. Top Shop use different digital tools for carry out promotion of its products. Formulation and implementation of marketing strategies in effective manner is very important for a company to achieve its set marketing objectives. From all marketing strategies, relationship marketing is one of the effective strategy for company. With help of this company can create and maintain good relations with its customers and can retain them for long time period.
2) Produce a Detailed Coherent Evidence-Based Marketing plan for an Organization
Figure: 7Ps of Marketing Mix
By Author, 2018.: Marketing mix is concept of seven P's known as products, price, place, promotion, people, process and physical evidence. Further all other marketing tools and concepts which company use to achieve its marketing objectives is all come under the concept of marketing mix. Seven P's of top shop can be understood by the following points:
Product: This is known as a mix of all tangible and intangible elements which company offer its customers to satisfy their needs and wants. Top Shop offer different type of designer and quality products to its customers to satisfy their needs.
Promotion: This concept reflect all communication tools and techniques which company use to promote its products among target customers. Top shop use advertisement and social media tools to promote its products.
Price: Financial amount which company charge from its customers in exchange its products and services is known as price, it is very important for company to set right price of its products as it help in offer maximum value to the customers and help in generate large number of profit.
Place: It is very important that product offer by company should be accessible by customer as this help in attract more customers and satisfy their needs.
People: All the individual who do efforts in organization so company can attain its set goal is come under this.
Process: This aspect reflect the process which company use to manufacture product and to satisfy the needs of its target market. Whole business process should be customer centric so company can generate large number of revenues.
Physical environment: This reflect that client encounter should be great as this make customer loyal toward brand.
Following are the Importance of Marketing Mix which are listed as below:
- It helps to the organization in a clean mix creation.
- The marketing mix assists the organization in increase the product portfolio.
- The marketing mix also helps in new product development.
- It is also helping in differentiation.
- The marketing mix is also guided to the organization to improve a business.
It has been concluded that the marketing is essential part of an organization which helps in generating profits and sales for it. With the help of marketing the organization produce goods and services as per customer requirements. The growth and development of an organization is depending upon the successful planning regarding marketing. Marketing is essential for all departments whether it is finance, HR, production, research and development, etc. Under this project report various roles and responsibilities of marketing department and its manager are discussed in this report. By using various strategies of marketing, the Top Shop can enhance their products or services. In mention report also studied about the differences among the marketing mix of H&M and Top shop companies. The Top Shop company uses marketing mix to enhance productivity and profitability for their business operations. This project report concluded that the marketing and its functions plays an important role in an organization and also helps to the company in achieving the goals and objectives in a systematic manner.
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