Unit 2 - 486 - Marketing Essentials - Assignment 1 PDF

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486.Asm2 - Describes how ways to set up plan marketing including campaigns, etc....

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ASSIGNMENT 1 FRONT SHEET Qualification

BTEC Level 4 HND Diploma in Business

Unit number and title

Unit 2 Marketing Essentials

Submission date

5/12/2020

Re-submission Date

Date Received 1st submission Date Received 2nd submission

Student Name

Nguyen Minh Phong

Student ID

GBC200129

Class

GBC0902

Assessor name

ThuanLT

Student declaration I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that making a false declaration is a form of malpractice. Nguyen Minh Phong

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Assignment Brief (RQF) Higher National Certificate/Diploma in Business Student Name/ID Number: Unit Number and Title:

Unit 2 - Marketing Essentials

Academic Year:

2020-2021

Unit Assessor:

Dang Son Tung

Assignment Title:

Assignment 1 – The role and responsibilites of Marketing

Issue Date: Submission Date: Internal Verifier Name: Date:

Submission Format: The submission is in the form of an individual written report. This should be written in a course, formal business style using Arial, 1.5 lines spacing and font size 12 with Justify Text to enhance the legibility for markers. You are required to make use of headings, paragraphs and subsections as appropriate, and all work must be supported with research and referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. Any suspicions regarding plagiarism will lead to failure in results of the assignment. The recommended word limit is 2,500 words, although you will not be penalized for exceeding the total word limit. Unit Learning Outcomes: LO1. Explain the role of marketing and how it interrelates with other functional units of an organisation.

Assignment Brief and Guidance: You are a new Marketing Executive of Company X (Choose a company which operates in Vietnam to apply). The company has not had a Marketing Team since it was established as the Board of Director did not think Marketing department is important for the business development. However, you need to build a strong Marketing team in order to achieve their business objective. A meeting is held next week to finalise this decision, your task is to prepare an individual report, which clarifies the important role of the Marketing function and its relationships with other

functions of the company, in order to persuade the BOD to establish a Marketing department. Essentially, the report will contain the following matters: (1) Definitions and the marketing concept; (2) The role of marketing; and (3) The interrelationships of functional units. Structure of the Report: 1. General introduction of the company and the report. 2. An explanation of Marketing and the role of Marketing in an organisation. Specifically, you need to explain the definition of Marketing and the key functions of Marketing, as well as Marketing management orientations. Moreover, you should clarify how the Marketing environment (Micro and Macro Environment) influences the roles and responsibilities of Marketing in a B2B company. 3. Explain the different roles of marketing in B2C and B2B context. 4. Demonstrate the interrelationships of Marketing with other functional units. Determine how Marketing department supports other departments and what are the potential conflicts between Marketing department and other departments of the organisation. Also, critically analyse and evaluate the importance of the marketing function and sort them base on the level of importance. Good examples, statistics or data should be provided to justify the analysis. 5. A conclusion to summarize all the key findings and analysis must be presented.

Learning Outcomes and Assessment Criteria: Learning Outcome LO1 Explain the role of marketing and how it interrelates with other functional units of an organisation

Pass P1 Explain the key roles and responsibilities of the marketing function.

P2 Explain how roles and responsibilities of marketing relate to the wider organisational context.

Merit Distinction M1 Analyse the D1 Critically analyse roles and and evaluate the responsibilities of key elements of the marketing in the marketing function context of the and how they marketing interrelate with other environment. functional units of an organisation. M2 Analyse the significance of interrelationships between marketing and other functional units of an organisation.

Contents 1 Introduction___________________________________________________________________________7 2 Marketing and the role of Marketing in an organization._________________________________________7 2.1 The definition of Marketing.___________________________________________________________7 2.2 Functions of Marketing_______________________________________________________________8 2.3 Marketing management orientations.__________________________________________________10 2.4 Marketing environment influences the roles and responsibilities of Marketing in a B2B company.___13 2.4.1 Micro Environment:_____________________________________________________________13 2.4.2 Macro Environment_____________________________________________________________14 3 Different roles of marketing in B2C and B2B context. https://masterful-marketing.com/marketing-b2b-vs-b2c/ 15 3.1 Different roles of marketing in B2C: Marketing activities must focus on getting people to buy quickly._15

3.2 Different roles of marketing in B2B_____________________________________________________16 4. Interrelationships of Marketing with other functional units_____________________________________17 4.1 Marketing department supports other departments_______________________________________17 4.2 The potential conflicts between Marketing department and other departments of the organisation._17 4.3 The importance of the marketing function_______________________________________________17 5. Conclusion:___________________________________________________________________________18 6.References:___________________________________________________________________________19

1 Introduction

To succeed in business, businesses and entrepreneurs need to have a thorough understanding of the market, the needs and wants of their customers, and the art of business conduct. Therefore, marketing, especially modern marketing, is an extremely effective "weapon" for brands to maintain their position in the market. Therefore, the marketing department is likened to an effective right hand that every company must have, including Nam Long Group. Since management considers the marketing department to be unimportant to the growth of the B2B manufacturing industry, the company has never had a marketing team before. My job was to convince the board of directors and build a strong marketing team to improve the company's business. also, great and quick experiences for all customers and customers throughout the territory of Vietnam. From a small company to becoming a big-name company with large and small items in the real estate industry in Vietnam, with a good marketing strategy, we have brought our brand and products to every customer. people and create a trust of choice. Nam Long Group wants to bring a good living environment and community values. Marketing is one of the most important parts of any company. With the strong relations between it and other functions of a company, marketing becomes a compulsory function for any company. Any company cannot maintain and develop without it. To understand the necessity of marketing, everyone must understand the definition and basic concepts of it and the relations of it with other functions as well. Thereby, everyone can understand that cutting down the costs and human resources for marketing function is not a good idea.

2 Marketing and the role of Marketing in an organization.

2.1 The definition of Marketing. Everyone misunderstands marketing that it is just the process of advertising and providing a certain product to the users. However, the concept of marketing is very diverse and broader than what people know. The first is a certain criterion preferred by the UK's Institute of Certified Marketing (CIM), while the second is provided by the American Marketing Association (AMA): -

Marketing is the management process responsible for identifying, anticipating, and satisfying

customer requirements profitably (CIM, 2001) -

Marketing is the process of planning and executing the conception, pricing, promotion and

distribution of ideas, good and services to create exchange and satisfy individual and organizational objectives (AMA, 1985 Both agree on the following points (Brassington and Pettitt, 2005): Marketing is a management process: Marketing is a legal management process and contain many managerial skills. Like any other management activity, it can be done effectively and successfully – or it can be done poorly, leading to failure (Brassington and Pettitt, 2005). Marketing is about giving customers what they want: If “customer requirements” are not adequately met, or if customers are not getting what they want and need, then marketing has failed both the customer and the organization (Brassington and Pettitt, 2005).

2.2 Functions of Marketing Marketing is a very broad term and cannot be explained in a few words. Marketing is an essential business function that helps in making the customers aware of the products or services that are offered by a business. The definition of marketing as defined by the American Marketing Association is as follows. “Marketing is the process of planning and executing conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” Functions of marketing are those aspects that define the practice of marketing and are being discussed in detail in this article. The following are the functions of marketing: 

Identify needs of the consumer: The first steps in marketing function is to identify the needs and wants of the consumer that are present in the market. Companies or businesses must therefore gather information on the customer and perform analysis on the collected information. By doing this they can present the product or service that matches closely with the customer needs and wants.

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Planning: The next step in marketing function is planning. It is considered very important for a business to have a plan. The management should be very clear about the company objectives and what it wishes to achieve from the created plan. The company should then chalk out a timeline that is essential for achieving the objectives.

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Product Development: After the details are received from the consumer research, the product is developed for use by the consumers. There are many factors that are essential for a product to be accepted by the customer, a few factors among the many are product design, durability, and cost.

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Standardization and Grading: Standardization refers to the process of ensuring uniformity in the product which means that a product developed by a business shall be standard for every consumer with the same quality and design and this is one of the key aspects that needs to be maintained by the business. Grading is referred to as the process of classifying products that are similar in quality and characteristics. Grading helps in making the customer know about the quality of the product offered. It helps in making customers understand that the products conform to highest quality standards.

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Packing and Labelling: The first impressions of a product are its packaging and the label attached to it. Therefore, packaging and labelling should be looked after very well. It is a well known fact that a great packaging and labelling goes a long way in ensuring product success.

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Branding: Branding is referred to as the process of identifying the name of the producer with the product. Certain brands are there in the market which have a lot of goodwill and any product coming from the same brand will be accepted more warmly by the consumers. Although, having a separate identity for the product can be helpful.

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Customer Service: A company has to set-up various kinds of customer service based on their product. It can be pre-sales, technical support, customer support, maintenance services, etc.

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Pricing: It can be regarded as one of the most important parts of marketing function. It is the price of a product that determines whether it will be successful or a failure. Some other factors are market demand, competition, price of competitors. The company or business should understand clearly that bringing about frequent changes in the price of a product can lead to confusion in the minds of consumers.

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Promotion: Promotion is the process of making the customers aware of the product by presenting it to customers across various channels of promotion and entice them to buy the product. The major channels of promotion are: advertising, media, personal selling and promotion (publicity). An ideal promotion mix will be a combination of all or some methods.

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Distribution: Distribution refers to the movement of consumer goods to the point of consumption. A company must ensure that the correct channel of distribution is selected for the product. The mode of distribution is dependent on the factors such as shelf life, market concentration and capital requirements. Proper management of inventory is also essential.

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Transportation: Transportation is defined as the physical movement of goods from one place to another. In other words, it is the movement of goods from the place of production to the place of consumption. Also, the correct mode of transportation can be selected based on the geographical boundaries of the market.

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Warehousing: Warehousing of products creates time utility. It is often seen that there is a gap between the time a product is produced and the time when it is consumed. Companies like to maintain the smooth flow of goods even when the products are of seasonal nature. Warehousing and storing provides the opportunity to provide goods during off season also. This concludes the article on the topic of Functions of Marketing, which is an important topic for Commerce students. For more such interesting articles, stay tuned to BYJU’S.

2.3 Marketing management orientations. We discuss below the more precise definitions of the alternative approaches to doing business that were outlined above. We then describe the characteristic management thinking behind them and show how they are used today. Figure 1 further summarizes this information.

And now, marketing management is increasingly expanding the strategy of building mutually beneficial relationships with customers with five functions: the production, product, selling, marketing, and societal marketing concepts (Kotler and Armstrong, 2014).

The production orientations: The emphasis with a production orientation is on making products that are affordable and available, and thus the prime task of management is to ensure that the organization is as efficient as possible in production and distribution techniques. The main assumption is that the market is completely price sensitive, which means that customers are only interested in price as the differentiating factor between competing products and will buy the cheapest. Customers are thus knowledgeable about relative prices, and if the organization wants to bring prices down, then it must tightly control costs. This is the philosophy of the production era, and was predominant in Central and Eastern Europe in the early stages of the new market economies. Apart from that, it may be a legitimate approach, in the short term, where demand outstrips supply, and companies can put all their effort into improving production and increasing supply and worry about the niceties of marketing later. For example, both personal computer maker Lenovo and hone appliance maker Haier dominate the highly competitive, price-sensitive Chinese market through low labor costs, high production efficiency, and mass distribution. The product concept: The product orientation assumes that consumers are primarily interested in the product itself and buy based on quality. Since consumers want the highest level of quality for their money, the organisation must work to increase and improve its quality levels. At first glance, this may seem like a reasonable proposition, but the problem is the assumption that consumers want this product. Consumers do not want products, they want solutions to problems, and if the organisation’s product does not solve a problem, they will not buy it, however high the quality level is. An organisation may well produce the best record player, but most consumers would rather buy a cheap CD player. In short, customer needs rather than the product should be the focus. For example, some manufacturers believe that if they can “build a better mousetrap, the world will beat a path to their door.” But buyers may be looking for a better solution to a mouse problem but not necessarily for a better mousetrap like a chemical spray, an exterminating service, a house cat. The selling concept: The basis for the sales orientation way of thinking is that consumers are inherently reluctant to purchase and need every encouragement to purchase enough to satisfy the organisation’s needs. This leads to a heavy emphasis on personal selling and other sales stimulating devices because products ‘are sold, not bought’, and thus the organization puts it is effort into building strong sales departments, with the focus very much on the needs of the seller, rather than on those of the buyer.

The marketing concepts: The organisation that develops and performs its production and marketing activities with the needs of the buyer driving it all, and with the satisfaction of that buyer as the main aim, is marketing oriented. The motivation is to ‘find wants and fill them’ rather than ‘create products and sell them’. The assumption is that customers are not necessarily price driven but are looking for the total offering that best fits their needs, and therefore the organisation must define those needs and develop appropriate offerings. This is not just about the core product itself, but also about pricing, access to information, availability and peripheral benefits and services that add value to the product. Not all customers, however, necessarily want the same things. They can be grouped according to common needs and wants, and the organisation can produce a specifically targeted marketing package that best suits the needs of one group, thus increasing the chances of satisfying that group and retaining its loyalty. For example: 20 years ago, very few users asked to buy today's popular products such as laptops, mobile phones, digital cameras, 24/7 online shopping, satellite navigation systems. in the car? Those situations are tied to consumer-led marketing—understanding customer needs even better than customers themselves and creating products and services that are capable of meeting existing and future needs. their future needs. As one operations expert at 3M notes: "Our goal is to get customers where they need to be before they even know where th...