Unit 2 Marketing Essentials Regent College

Introduction

Marketing is process in which items are sold by seller to buyer. This helps them in attracting attention of various users. They can also maintain good reputation in the market as well as in front of buyers. Thus as a result they can generate more revenues. Hence they can also increase the market share. Report discusses about the ALDI Company which is retail firm. It was found in 1939 in U.K. Assignment describes about the role of marketing in the company and it relation with other functions of marketing. It also describes about comparison of ways of marketing mix of two firms to accomplish the goals (Baker and Saren, 2016). It further describes about the creation of marketing plan and it include SWOT analysis and Porter’s five forces model which are used by marketing unit to have complete and accurate information about market conditions and system abilities. This also helps management to frame appropriate strategies and use tools and techniques which benefits them to provide items and services in according to needs and wants of people. Hence, as a result company is able to enhance sales and can earn more revenues.

Task 1

P1 Key roles and responsibilities of the marketing function

Marketing includes activities which are executed by members to sell items to consumers. Advertising, sales promotion, personal selling, online marketing and social media are various techniques that are used by firms to grab attention of large number of people. These tools help management to inform public about products, its features and benefits. This helps ALDI to attract people by establishing good image in market. Along this, company is able to establish competitive advantage and position system higher than rival firms. Henceforth, management is able to attract people and increase sales and profitability. These are various activities that are performed by marketing unit are described below (7 Functions of Marketing, 2017):

Product or service management: Organization provides things to fulfill needs and wants of public; thereby make adequate revenue. It is essential that items and services are manufactured in respect to taste and preference of consumers. For this, management requires to formulate strategies and tactics to make system function in according to demands of people. In ALDI, marketing unit work with research segment which benefits operation members to design products and provide things in respect to requirements of consumers. Along this, 24 hours customer service facility through online tactic is provided by seniors to clients. This advantage firms to have large number of customers; thereby enhance sales and revenue. Administration design items and provide quality things to consumers which help firm to sustain them for longer period (Brassington, and Pettitt, 2013).

Marketing information system (MIS): This defines activities executed by management to conduct market research to anticipate needs and wants of people. It is necessary that organization have complete and accurate information about demands and requirements of public. Along this, they even require determining market reputation and image of ALDI; thereby position system higher than competitors. Management even adds funds to expand business and set up numerous branches in different nations to have large customer base (Desai, 2013).

Financing: Marketing department require having adequate money to implement new and unique technologies and tools to execute activities effectively. Information technology (IT) unit formulate appropriate online platform and manage websites of ALDI to establish good market position. These activities needed proper support from finance segment to provide adequate money to marketing team. This helps them to organize activities and use promotional techniques such as social media and online advertising to attract people by informing them about items and services.

Marketing planning: This concept includes activities that are executed by marketing unit to formulate appropriate program and tactics to make system function in according to needs and wants of people. It is necessary that management frame adequate strategies and plan which includes information about marketing mix, budget and standards that are specified by administration. Product, price, place, promotion, people, process and physical evidence are various components which are specified by marketing team of ALDI in respect to demands of consumers (Desselle, Zgarrick and Alston, 2016).

Market research: Administration requires having complete information about needs and wants of public. This helps them to design system and use appropriate tools and techniques which benefits ALDI to provide things in according to demands of consumers. Market survey is adequate tactic which helps marketing department to acknowledge constraints required by them to attract people. Along this, it also benefits members to use appropriate promotional techniques in respect to competitors.

Promotion: This tactic includes activities executed by management to inform public about items, its features and benefits. Print media such as newspapers and magazines, electronic techniques such as radio and Television are various traditional tools that were used by organization to grab attention of people. Besides these, social media, personal selling, sales promotion and e-marketing are various other devices that are used by marketing unit of ALDI to attract buyers. This helps management to design attractive message and videos which provide accurate data to public about variety of items, benefits and features (Dibb and Simkin, 2013).

Pricing: Business person even require setting appropriate rates of items and services in according to needs and wants of people. It is essential that adequate pricing strategies are used by firms in respect to enhance market position. ALDI provide variety of products and which are of different price ranges. This helps seniors to increase customer base; thereby enhance sales and profitability. Along this, company is able to attract people from rival firms as they provide things at adequate prices.

M1 Roles and responsibilities of marketing in context of marketing environment

Marketing department duty is to use appropriate promotional techniques such as online marketing, sales promotion, personal selling and social media to provide accurate and complete information to people about items and services. This helps management to create strong market position and goodwill. In ALDI, marketing unit responsibility is to grab attention of people by informing them about variety of items and services. Promotional is important activity which benefits company to attract consumers by providing them information about features and benefits of products. This also helps seniors to easily compete with competitors and enhance sales and profitability.

P.2 Evaluate roles and responsibility are interrelated with marketing in organizational context

Marketing helps other departments so that they can function well and their activities can run smoothly and successfully. Thus they can work in proper and effective manner. Hence as a result they can earn more revenues and it can lead to increase in market share. Thus it leads to enhancing the market share (Hauer, 2011). Marketing helps other departments such as finance, HR etc. So the role and responsibilities towards in Aldi are-

Marketing and Human resource department: Marketing helps other departments to function smoothly. Marketing gives necessary details and other information related to various needs and wants of various employees. Through this it can easily capture many users. Through proper evaluating different information and data related to various existing employees. Thus HR manager can create different strategies and policies so that they can create goods and services. Thus as a result they can recruit many educated and competent employees within the firm. This leads to effective and efficient functioning of various activities and tasks. Hence HR department can give training according to their needs. They can also take decisions related to the recruiting of various new people.

Marketing and finance: Marketing helps finance department in choosing different sources of finance. Hence as a result they can select various sources of finance. Through this they can choose various sources of finance. They can select various sources such as bank and other intermediaries. Through tis they can choose cheapest source of finance. Thy can put their money in profitable products and hence they can generate more profits. They can reduce the extra expenses in all products. Hence as a result they can increase their profits and can expand their tasks in various nations. Through this they can increase their sales. This helps them in maintain good and strong position in the market (Jones and Rowley, 2011).

Marketing and production: Marketing helps the production department in various ways. They can generate more revenues through investing in production department. Marketing gives the full information related to customer needs and wants. Hence they can create products and items according to choices and preferences of various users. Thus as a result they can invest in various products and they can deliver to various users. Hebe as a result it can lead to increase in revenues. Through this they can easily expand their task and operations in many parts of world. Thus as a result they can maintain good and positive image in market as well as in front of all consumers. Hence they can easily diversify their activities.

Marketing and sales: Marketing helps sales department to so that they can effectively sell products. Marketing department helps in monitoring various data and information and they can easily sell goods. Marketing after monitoring data and information can tell sales department about creation of different unique plans and policies to sell various o0rdicts which can be delivered to users. Thus as a result they can easily sell the goods. Marketing department helps in evaluating the customer behavior and they can tell this data to sales department. Through this it can make changes in existing products and can create different and unique products. Hence Aldi can maintain unique and positive image in front of all buyers. Through this they can maintain good and strong position in minds of all buyers (Lamb, Hair and McDaniel, 2011).

Marketing and research and development: Marketing helps in monitoring of various tools and techniques so that they can produce goods using advanced tools. Hence marketing manager gives full information related to advanced tools and techniques so that they can produce good quality of goods. Market survey is appropriate tool which is used by R&D to have complete information about needs and wants of consumers. This helps management to execute business operations and design items and services in according to taste and preference of people (Malhotra, Birks and Wills, 2013).

Marketing and procurement department: Marketing helps the procurement department so that they can choose best sources of suppliers. Hence marketing department can give full information and data regarding selection of best suppliers and hence they can choose cheapest supplier who can give good suppliers and other resources at less costs. Thus they can select any supplier and they can take raw material and other necessary resources which is crucial for every company. Thus they can procure various resources and they can easily other various goods according to the consumers.

Marketing and customer service department: Marketing helps other departments including the customer service department. Marketing gives full information and data regarding various customers. Hence customer service department can solve all problems and issues of different customers. Through this they can easily convince users by interacting with them and solving all issues. Marketing gives full data regarding their behavior and thus they can easily solve different issues and problems etc. Hence as a result they can attract and capture many users in minimum time (Mihart, 2012).

M.2 Importance of interrelationship of marketing and other function

Marketing is very important and it has a good relationship with other functions of marketing. Marketing helps in finance, HR and others. Through this all departments can give good results and they can produce good quality of goods to various users. Through good and efficient functioning of other departments it can distribute gives in less time to various users. Hence as a result they can generate more revenues and they can easily increase the market share. Thus they can maintain strong position in the market and they can also diversify the business in many nations. Hence they can easily diversify the business.

D.1 Evaluate elements of marketing function

There are different elements of marketing function. Various elements such as finance, HR and production and procurement etc. Marketing assists in all these departments and thus they can generate more revenues. Through this it can also enhance market share. Hence as a result they can diversify and expand business. This also helps in maintaining of good and strong image in market. Hence through marketing all departments can give superior results and thus they can satisfy all users.

Task 2

P3 Application of marketing mix in planning process to achieve objectives

Marketing plan which includes information about marketing mix used by management to deliver appropriate things to consumers. Product, price, place, promotion, people, process and physical evidence are various components which are specified by seniors in respect to provide adequate products and services to clients. This help organisation to enhance market position and accomplish goals and objectives within specifies time (Novak, 2011).

Basis

ALDI

LIDL

Product

ALDI provide different variety of items and services in respect to needs and wants of people. Firm have variety of things in their portfolio which includes food products and other various things. This helps management to have large customer base which help them to generate adequate profit and enhance sales.

Fish, bakery items, healthy products are various variants that are provided by firm. British farmers and suppliers are used by LIDL to deliver quality items to consumers. They even require to provide things which help them to compete with rival firms and attract people from competitor brand.

Price

ALDI have good market position which is set up by management as they uses penetration pricing tactic. This strategy determines that items are provided at reasonable rates which help firm to attract large number of people; thereby enhance sales and revenue.

Company uses skimming pricing strategy which specifies that LIDL have set high prices. This impacts on sales as people prefer to purchase quality things at reasonable rates.

Place

Administration has established branches in different nations which help ALDI to have large customer base. This helps enterprise to increase market reach and enhance sales volume. Online applications are also taken by public which benefits firm to deliver things by using various transportation channels.

Different distribution channels are used by firm to provide items and services to consumers in respect to their requirements. LIDL have outlets in limited countries which impacts on sales number.

Promotion

Online marketing, social media and sales promotion are various techniques used by marketing unit of ALDI. These tools help firm to provide appropriate information to public about items, its features and benefits.

In LIDL marketing members organise campaigns and use personal selling, electronic devices and online marketing tactics. This help management to construct good image in market and influence people.

People

ALDI have skilled and competent manpower which help management to provide quality things to consumers. Training and development programs are organised by firm to enhance skills and abilities of members; thereby make them capable to deliver quick services to clients.

Company provide items and services in according to needs and wants of people. With help of market research, management have accurate information about taste and preference of consumers. This helps ALDI to provide things accordingly and retain members and customers for longer period.

Administration of LIDL provide duties and tasks to members in respect to their skills and capabilities which benefit firm to provide things in according to needs and wants of people.

Along this, survey and feedback are taken from clients who help marketing team and seniors to design system and deliver appropriate items and services to consumers.

Process

In ALDI, management have implemented latest tools and techniques in system which benefits firm to provide quality items and services to consumers. Along this, quality products and quick services are provided by enterprise.

Marketing team and IT department both keep updating technologies and modifying system to make it function efficiently; thereby provide effective things to consumers.

LIDL system has appropriate technologies used by administration which helps firm to provide adequate things to consumers.

Apart from this, changes in tools and techniques are made by seniors to make system function in according to market conditions.

This helps firm to attract people and to make organisation superior in respect to rival firms.

Physical evidence

ALDI constitutes simple infrastructure which helps customers get quality experience. Along this appropriate tools and techniques are implemented in system which helps management to give quality and quick services to customers.

Company uses traditional techniques to organise business activities in according to use resources and generate adequate revenue from business. Besides this, marketing team provide appropriate things to consumers and after sales services.

M3 Different tactics used by organization to achieve objectives

Marketing unit formulate appropriate strategies in respect to pricing and promotion to establish adequate position and reputation in market. It is necessary that items and services are provided by organization in respect to needs and wants of people. Along this, management need to utilize resources that is funds, material and manpower efficiently; thereby make system function effectively. Marketing plan which constitutes information about marketing mix and various techniques such as SWOT and porter’s five forces model used by members to acknowledge market situation of firm in respect to co

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