2. Marketing Essentials
Introduction
This unit is designed to introduce students to the principles of marketing, enabling them to
develop a basic marketing plan and to employ elements of the marketing mix to achieve results.
While they will learn the underpinning theories and frameworks, they will also be able to relate
these to real world examples, including products/services that they encounter in their own
daily lives. Organizations such as Apple, Google, VISA, Burberry, Coca-Cola, UNICEF, BP and
small local businesses all have at least one thing in common: they all use marketing to influence
us to engage with their products and or services. Whether it is becoming a loyal customer
buying a product and service or donating to a charity, organizations use a range of marketing
techniques and tools to inform and influence us.
The knowledge, understanding and skill sets that students will gain on successfully completing
this unit will enhance their career opportunities; whether setting up their own business or
being employed by an organization.
Learning Outcomes
LO1: Marketing plays an important role in establishing relationships between
customers and the organizations offering to the market. The marketing function is also
tasked with branding of the organization, participation in publicity activities, advertising
and customer interaction through feedback collection. We have three marketing
departments.
The HR Department
The Finance Department
The production Department
The HR department always develops the accuracy and the productivity of any
department and also helps and departments in gathering experience through training
sessions.
The relation with the finance department: Money is a basic factor in every process and
every company. The finance department supports the marketing department with a lot
of statistics and a lot helpful information conserving the moderate prices that the
customer expects for a specific product.
3. The relation with the product information: The marketing department always gathers
information about the needs of the customers and also surveys the people about the
quality, the expense, and the valuables of the products and hence reports the
information back to the production department in order to produce what people need
with a responsible price.
LO2: The 7ps marketing mix:
Product
Place
Price
Physical Environment
Promotion
Process
People
LO3: Marketing Planning :
The importance and value of marketing plans.
The links between marketing plans, marketing objectives and marketing strategies.
Evaluating and monitoring marketing plans using appropriate control and evaluation techniques
such as sales analysis, market-share analysis, efficiency ratios and cost-profitability analysis.
Structure and development of marketing plans:
Market segmentation and target market selection.
Setting goals and objectives, situational analysis tools and techniques, creating a marketing
strategy and allocation of resources and monitoring and control measures.
TOYOTA
4. Toyota Motor Corporation is a Japanese multinational automotive manufacturer
headquartered in Toyota, Aichi, Japan. In 2017, Toyota’s corporate structure consisted of
364,445 employees worldwide and, as of December 2019, was the tenth-largest company in the
world by revenue.
TASK 1: Marketing helps the company to increase its sales. It is the way through which there is
managements of the relationship based on exchange. It is done to increase the sales of the
business. To stand in the market and compete with the competitors.
Marketing Process:
Situation analysis
Marketing strategy
Marketing mix decision
Implementation and control
Role of marketing manager:
He overall review the marketing department.
He develops the marketing plans.
He coordinates with other department.
He study and analyze the market activities.
5. Role of an operation management in Toyota Company:
The role of operations management actually describes what services and goods are being
inputting and what results are we getting in order to make functional strategy. It is the
standardized procedure of fundamental specifications. They actually compete on quality,
dependability, cost, price, customers satisfaction and time. Ensuring the processes of all
these above variables, management take decisions about the fundamentals of management
options.
Management operations are very crucial because of following reasons where,
Customization is required
Ensures the operations and quality
Give individualized attention
Speed of manufacturing
Guarantee that all deadlines are met
Ensure that the scarce resources are met qualitatively
Hence actual and competent operations can give a clear competitive advantage to Toyota,
which relates to core competencies.
Marketing Process
The marketing process is a process of analyzing the opportunities in the market, selection of
the target markets, and development of the marketing mix and management of the
marketing efforts.
Marketing has different roles and responsibilities in case of a wider organization context of
Toyota Company. Marketing helps to achieve the target as well as the objectives of the
company by creating different relevant marketing plans.
Marketing Orientation
Marketing orientation is a business model that focuses on delivering products designed
according to customer desires, needs, and requirements, in addition to product
functionality and production efficiency.
Relationship of Toyota marketing department:
6. Toyota links with all four department like human resources department, marketing
department, finance department, information technology department and industry cant run
without these four departments so mean while Toyota is performing a great relationship
with all these departments so Toyota is running successfully.
Key Elements:
Product
Price
Place
Promotion
People
Process
Physical Evidence
All these elements I’ve explained in LO2
Task 2
Planning Process: Marketing plan and development of marketing strategies
encompasses a comprehensive, sequential process. A strategic marketing plan, therefore,
includes three phases namely; planning, implementation, and control. First, the planning
phase should involve mission definition and situation analysis. Second, the implementation
phase includes opportunities identification and evaluation and the implantation of
marketing mix and resources. Third is the control phase that seeks to evaluate performance.
Through its mission statement, it is evident that Toyota dependably tries to make a more
prosperous society through automotive production.
Business Purpose: The Company dependably offers hybrid alternatives for all models
available in the automobile market, setting a target of one million hybrid vehicles every
year. Toyota is also conscious of the global climatic and energy changes, efforts that are
mirrored in its manufacturing and distribution processes. The company also hold the fuel
economy in high regard as well as reduction of carbon II oxide emissions.
Toyota also uses marketing mix during planning process and planning process is being used
as business purpose. Toyota Company has multiple business purposes like vast production,
merging, expansion etc. Business purpose can vary on the basis of targets.
Task 3 Development and evaluation of basic marketing plan
Coconut Bliss
7. The basic marketing plan for Coconut Bliss can be developed with the following specific
tasks:
The company needs to develop a clear understanding of the potential customer. Being a
small company, Coconut Bliss must take a clear research in the market and then understand
the main objective of the company’s product and services. The most important question is
why would a consumer use its service? This must be figure out initially, and then what is the
main important feature in company’s product? The product must deliver customers’
requirements in order to sustain in the market.
Identification of target consumers is the second most important thing in the marketing
planning process after research. The organization must be clear on their final consumer, to
create and plan accordingly. The organization must identify their competitors which are
going after their target consumers. The competitor analysis also helps the business
organization to learn about market trends and pros and cons of marketing effectively.
Evaluate the research and make strategies according to the needs and requirements of
market. Propose a budget for the marketing activities and create well defined goals nd
objectives using a specific timeline.
Using effective channels for marketing activity, such as Coconut Bliss serves organic ice
creams and its target audience is urban people. Thus company must use digital media
channels to promote its marketing plan.
Coherent marketing plan which tactically applies 7p’s to
achieve marketing objectives
8. The marketing mix is a group of interrelated variables which involves 7P’s to satisfy the
target consumers over the contemporaries of business organization. The coherent
marketing plan of Coconut Bliss using 7P’s of marketing mix is as follows:
Product: Difference between products and services, importance of brands, product
development and product lifestyle.
Price: Price context, pricing strategies and tactics.
Place: Channel management, supply chain management and logistics, promotions integrated
communication mix and promotional tools.
People: The different roles of people in marketing, including customer interfacing and support
personnel. The different skills, attitudes and behavior of people delivering the product or
service to customers.
Physical evidence: The tangible aspects of service delivery – visual, aural and olfactory
elements.
Process: System and processes involved in delivering a consistent service. Different types of
processes achieving overall business objectives.
Promotions: The effective communication with the consumers using marketing
communications, personal selling, direct marketing and advertising is called promotion.
9. CONCLUSION
The assignment successfully depicts the role of marketing function and interrelationship of
other organizational functions. The overall marketing mix 7P’s are compared in the business
organizations to achieve business objectives. Also, the development and evaluation of
marketing plan is explained briefly.
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