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Marketing refers to the activity which is conducted by an organization in order to advertise its products and aware customers about the item that are offered by a company. For all the organizations it is very important to implement effective marketing strategies so that the business can be promoted effectively. Promotion and advertising are the two main components of marketing that are very important for a business entity (Akaka, Vargo and Lusch, 2013). The organization which is selected for this report is KFC which is an American fast food restaurant chain and who is operating business all around the world. Various marketing trends such as online marketing are emerging in the market that are used by organizations to promote their business. In this assignment various topics have been discussed with the view point of marketing manager of this company such as marketing processes, the way in which marketing influences and interrelated with other functional departments of KFC, value and importance of marketing and the ways in which 7p’s of marketing are used by organizations. A detailed marketing plan for KFC have also been prepared under this assignment.
Task 1 & 2
Introduction of marketing and current and future marketing trends related to KFC
Marketing is the activity in which organizations perform various activities in order to aware customers about the product which is offered by the company. KFC is using new and innovative techniques in its marketing campaign. New trends are also taking place in market that includes online marketing, mouth publicity etc. In future KFC can use artificial intelligence and use robot delivery system for the food and satisfy customers with the help of innovative techniques.
Overview of different marketing processes
These are the different steps that are required to be followed by an organization while conducting marketing activities. It includes setting mission, analyzing market opportunities, selecting target market and developing and managing marketing mix so that business can be executed successfully.
Firstly a mission is set by the organization in which the main objective of the company is decided for the marketing activities.
Marketing opportunities are identified by conducting a research in the market so that market conditions can be analyzed in order to expand the business and operate it appropriately. For all the organizations like KFC it is very important to identify opportunities in the market for the purpose of achieving organizational goals. In KFC market research is conducted to gather market information (Cabrera and Williams, 2014).
When market research is conducted than marketers also identify the target market where the organization should introduce its products so that business can be expanded in different locations. As KFC is operating its business all around the world and for operating business in different countries the marketers have conducted market research so that target customers can be identified. When the market is determined than organization can take decision related to expanding business.
Marketing mix is the mixture of 7 different P’s that are product, price, place, promotion, process, people and physical evidence. KFC manage its marketing mix in effective manner that helps it to be competitive in the market. After all these steps, marketing plan is finally implemented and controlled by the organization.
Explanation of the role and responsibility of a marketing manager
The person who is responsible for the preparation and formulation of marketing strategies and for enhancing market share of the company by conducting promotional activities is a marketing manager. In KFC, marketing manager have various responsibilities that are required to be performed. Some of them are discussed as follows:
- Developing marketing strategies: Marketing manager of KFC is responsible to develop marketing strategies so that business can be expanded and large number of customers get attracted towards the organization. These formulated strategies are implemented by the company and it results in increased profits and sales as customers get aware about the products that are offered by KFC (Guffey and Loewy, 2012).
- Employee management: Main responsibility of a marketing manager is to manage employees who are working in the field and promoting the organization. In KFC, the mangers are supporting all the workers so that they can perform their duties in effective manner which will be beneficial for the organization.
- Identifying new business opportunity: Marketers are responsible to identify new business opportunities in the market so that business can grab them to get success. Marketing managers of KFC are fulfilling these responsibilities effectively so that business can be expanded.
Roles of marketing manager:
- Researcher: Marketing managers of KFC work as researcher as they are focused to identify the growth opportunities from market so that business can be operated in more effective way.
- Motivator: Marketeers are responsible to motivate all the employees who are working under them. In KFC marketing managers are performing the role of motivator as they motivate the workers to perform their jobs in more appropriate way and contribute towards the organisation.
Explanation of marketing and how it influences and interrelates with other functional departments of the organization
Marketing includes all the promotional activities that are performed by an organization in order to increase its sales. In KFC marketing is done through various medias like online marketing, commercials etc. It influences and interrelated the functional departments of the organization. The relation can be understood with the help of following points:
Marketing and finance department:
Finance department of KFC is responsible to allot funds to all other functional divisions of the organization. When marketing division require money for all its activities finance department allot money for all the promotional activities so that sales and be enhanced that may result in increased profits. Hence it can be said that both the departments are interrelated to each other (Ionita, 2012).
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Marketing and research department:
Research department of KFC gather information of market by conducting market research and all the collected information is provided to marketing department so that all the activities can be performed accurately. This data is used by marketers to formulate strategies that can help to be more competitive in the market.
Marketing and IT department:
IT division is related to all the technology related aspects that can be used to use latest technology in marketing functions. In KFC, IT division help marketing department to use innovative techniques in marketing so that large number can be attracted toward the company by providing them valuable information about the company.
Marketing and HR department:
HR division of KFC is responsible to hire employees who are capable to fulfill all the requirements of the company. It is very important to select such individuals who can work under critical situations so that all the tasks can be accomplished successfully. Employees of marketing department are hired through HR department only by which it can be said that these two departments are inter related.
From all the above points it can be analyzed that marketing influences and interrelates all the functional departments of KFC.
Value and importance of marketing
Importance of marketing:
For all the organizations marketing is very important as it can help to grab attention of customers (Importance of marketing, 2018). For KFC importance of marketing can be understood with the help of followi