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Role of Marketing and Interrelation

Answer :
Organization Selected : Top Shop

INTRODUCTION

Marketing refers to the process for developing relationship with customers and satisfying customers. This is totally customer oriented approach. This includes the advertisement, selling and delivering products and services to the people. As main goal of marketing concept is to meet the need and want of customers and ensure profitability for organisation. To better understand this concept Top Shop, UK is being selected. This is a British multinational fashion retailer of clothing, shows and other make up accessories. The role of marketing and interrelation and its interrelation with other functional department is being explained in this report. As marketing mix plays an important role in the achieving organisational goals, is also being explained in this report. The marketing plan is very helpful for an organisation which is also discussed under this report.

TASK 1

P1 The roles and responsibilities of marketing functions.

Marketing is an activity which is performed by organisations in order to create awareness of their products and services to the public. According to American Marketing Association Board of Directors, Marketing is activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large (What Is Marketing, 2018).

Top Shop is referred to various roles and responsibilities which are operating successfully by a manager. The roles and responsibilities are discussed as under:-

Marketing planning:

Plans are made in accordance with effectiveness which is based on roles of marketing. Marketing planing is considered as document which shows the tactics and strategies for the organisations. With the help of this planning Top Shop can enhance its productions and sales which ultimately leads to increased profitability of business. . They are based on gathering information in regard with analysing situation of market. As per manager of Top Shop company is to relate with goals and actioning steps.

Packaging and labelling:

It is another context which is based on design of product with package and label. In this approach marketers are encouraging potential buyers for purchase. Top Shop company products are attract-full and preservative for numbers of customers which promote effective in market (Baker, 2014).

Promotion:

It is relating with career advancement of position in context with hierarchical structure. Promotion describes persuading targeted audience relating with product and service for increasing awareness and generate sales with brand loyalty. This function of marketing encourages support by raising higher outcomes in sales promotion. Promotion can help Top Shop to increase their sales and maximise their profitability.

Customer support services:

It is a range of services which is based on cost effectiveness and correcting use of product. Top Shop company is assisting maintenance, training , upgrading and disposal of product which lay immediate benefit in management system. As per manager, there is a need of exchanging ideas for outing more values of product purchasing.

Physical distribution:

In this function company used to distribute products and services in order to lead with profits and ensure satisfying them. It is associated with the activities in order to supply finished products with production line to consumers. Top Shop has many of distribution channels in order to deliver product with making benefits from them. Company is looking after on many circumstances relating with ordering process, controlling inventory, servicing customers etc.

Pricing of product:

Price of product is defined by profit rates, company objectives, competitor policy for earning profits. They are leading with systematic strategies which direct effect came on succession of business (Boschetti and Massaron, 2015). As per manager of Top Shop price is to be made according to the demand of product bin market trend (Westwood, 2013).

From the above roles and responsibilities, marketing function is based on satisfaction provided to consumers in order by achieving goals and objectives. These role are describe according to environmental aspects which is completely impact on functions of marketing. Marketing environment are looking after on roles which makes a wide context on Top Shop company.

M1 Analyse the roles and responsibilities of marketing

The marketing is an activity which is performed by organisations to promote their products and services in market. This activity perform the various roles and responsibilities for business like market planning, packaging and labelling, promotion, customer support service and pricing of product. As an analysis, the benefit of these roles is that, promotion helps company to increase their sales and get goals achieved. Pricing of product allows to set the strategic price according to market study in order to be competitive in market.

D1 Evaluation of key element of marketing function and their interrelation with functions

Organisations are comprises of various departments which perform the organisational activities in order to achieve organisational goals. As these functions are interrelated with each other. The marketing function is related with the finance as finance allocate budget to all departments so that they can perform their operations smoothly. Similarly marketing is related with sales department. And in evaluating, it can be said that if marketing department is performing well than goals of company will be achieved and vice versa.

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

Marketing is process on leading with product and services which are attaining activities of customers for making promotion. It is helpful for company is order to make connection with various strategies and schemes which influence company for better policies. Top Shop is dealing market with an objective of section of business which is performed by manager. Decisions are also affected by roles and responsibilities of functional department in an organisational context. Here activities are performed in a manner by entertaining customers for long period of time. Functions of marketing with various departments are defined below.

Relation of marketing and sales department:

Sales is defined by products and services of company which are leading with specified period of time. It is a promotional activity which is based on enhancing customers and sales.. It is determine for attaining defined objectives and improves manager efficiency. As per manager of company, department of sales is to make divisions in regarding with selling to a right person. This system is useful in context with increasing profit by sustaining longer period in market place. Their purpose is to increase profits from organisation. As marketing operation is helpful for creating awareness of products of Top Shop and this will ultimately leads to increase in sales of company. So there is a positive relationship between marketing and sales department.

Relation of marketing and finance department:

Finance department is playing a vital role for company Top Shop which performs activities like pricing, distributing, promoting and so on. Their includes many of the functions like financial data, billing, preparation of financial statement (Cleverley and Cleverley, 2017). Both departments are leading with expenses relating to functions like distribution, advertisements, which are recorded under marketing but kept by finance department. Top Shop company is preparing balance sheet which are interrelating with expenses and are maintained in proper reports by department of finance. As per manager of company, their requires many of the data and information which are collected by departments from different sources. As to perform the marketing activities it requires huge fund and finance department allocate fund to various department to perform their operation's effectively. So there is interlinked with marketing and finance department of organisation.

Relation of marketing and HRD( Human resource department):

HR department is managing roles and responsibilities in order to resolve issues or conflicts made in between employees. Top Shop company is providing trainings to new workers and building quality for maintaining piece in department. This is helpful in context with making growth in production process(Hugos, 2018). Department of marketing and HR both are interrelating with training programmes by making arrangements for producing effective products. Buyer is attracted in accordance with image of company and product in market which is based on promotion of desire product.

Relation of marketing and IT department:

IT department is based on new upcoming technology which is useful of Top Shop company for improving efficiency and production. Company is dealing with activities which are determine by producing products with new applications and profitability. As now days new technologies has arrived in the market which is used by marketing department and assist by information technology department of organisation. As for example, to provide after sales services IT develop the customer feedback portals for marketing department (Liu and et. al., 2013).

Relation of marketing and Operation department:

Operation department is leading by managing personnel and raw materials which are useful in production profits. Company is looking forward on responsible functions by gathering and analysing information by satisfying customer needs and wants. Operation department is playing a liable role in producing goods by gathering information for different sources. Here departments are interlinked with each other by fulfilling consumer needs. As per manager of Top Shop company, their assist products with satisfy needs of consumer (Zhou, Varadharajan and Hitchens, 2013)

From this interrelation, marketing is related with other functional units and various departments of an organisation. Company is leading with functions which are making focus in an organisation by human resource, IT, customer service provision, research and development, operations or logistics.

M2. Significance of interrelationship between marketing and other function

There are various functional unit in organisation like marketing, finance, human resource management and information technology which supports the organisation to perform their goals effectively. These functional units are independent and interrelated with each other. There interrelation plays significant role in the organisation. As it enhance flow of communication within company and information sharing will be more. So decision can be taken more effectively.

TASK 2

P3 Different organisation using marketing mix for planning process to achieve objectives.

 

An organisation is making focus on enhancing activities in order by using 7P's of marketing mix. They are basically define as product, price, place, promotion, physical environment, people and process (Larson and Draper, 2015). They are used by companies in 0order to stand in market when having competition which was too long. Mix is determine by fundamental changes incurred in market place. Top Shop is preferring this tool of business which is determining product brands which are associating with mix.

 

Basis

Top Shop

Avon Products

Products

This company is leading with product which is in great depth of production for providing customer satisfaction(Cherubini, Iasevoli and Michelini, 2015).

They are leading with products likes perfumes, toys, clothing etc. They are categorised in fragrance fairness creams etc.

Price

Here prices are assumed according to customer affordance level or at cheapest availability of products. The company is using market based approach for their pricing of product (Dumasi, Dhurup and Mafini, 2014).

Here the prices are examined on the basis of competitors in market. Product rates are depending on targeted markets. As it is following cost based pricing approach.

Place

They are using various sources in distributing high range of products via mail, high street etc. It has more than 300 stores in UK and 140 franchised store across the globe (Jackson, 2013).

They are leading with strategies in making size, channels and distribution with a wide range of products. As this has around 600 to 700 store across world.

Promotion

Here promotions are made by advertising, personal selling etc. social media is also opt by this company which is a tool of communication (Koch and Benlian, 2015)

They are using catalogue for promoting with correct audiences required for putting across an organisation..

People

Peoples are more demanding with target market for certain products and services.

Here peoples are thoughtful and passionate in regarding with growing scale which attract customers (Meyer and Cohen, 2018).

Process

They are delivering services which is done by present customers usually done once again a part (McDonald and Wilson, 2016).

Their process is tweaking and advancing for business in this company. Company is opting minimum costs and maximum profits.

Physical evidence

The company stores are very bright and stand alone due to its lay out and appearance..

The Avon has also the outstanding stores with high class interior which attract the consumers to step towards the stores (Schmitz and Ganesan, 2014).

In respect to with these P's of marketing is based on resolving issues, improving goals and objectives, strategies implementation, making development, selection, monitor and evaluation of plans. Top Shop company is examining strategic plans which are based on planning process lay on organisation(Malhotra, 2015). Planning process is useful is dealing with marketing mix are consider below.

Recognizing need for action: Planning process is an important approach which is used by Top Shop company. This is useful in an order to make awareness of business opportunit9ies which are relating with external environment. As per manager, company is able to recognise opportunities or challenges that could be faced. It is a realistic look which is classified by SWOT analysis.

Setting objectives: It is a most important step which is based on establishments of objectives by providing general direction. Objectives that are to be set either having long or short term. Top Shop company is indicating with end results which are percolate with marketing mix and guide them in right direction.

  • Developing Premises: This is done by determining mix which is based on forecasting assumptions, policies and plans(Mueller, 2015). Top Shop is using mix for developing product which are based on development of product with quality in available resources. Company is forecasting by internally and externally of product.
  • Identify Alternatives: this process is based on making identification on available options. Company is hoping to get effective outcomes by using innovation based on many courses. According to mix, here make identification of prices and physical evidences of product. This is made by unique brand and product.
  • Examining alternative course of action: Process is made for plans that to be achieve in order with purpose of implementing those mix. Top Shop company is leading with a purpose of examining various courses of action takes place in achieving objectives.
  • Selecting alternative: In this P's of marketing mix is useful in any adaptable situation which is making big part in taking decision. As a manager of Top Shop company, here making involvement in various combined plans.
  • Formulating Supporting plans: As a manager, company is to lead with supporting plans by using promotion mix. This is relating with this process in determining formulating plans. It is a secondary plan which is based on launching of new product.
  • Implementation of plan: It is the last plan which is based on functions to play in order by achieving objectives for an organisation. This tool is used by Top Shop company which made implementation involvement in types of plans, procedure, policies, budgets and standard of product.

Marketing tactics is useful for an organisation in form of determining their structure based on describing level of competition in market(Proctor, 2014). Porter five forces theory is also based on determination made by Top Shop company are describe below.

Porter's Five forces model:

This model is describe by competitive forces which are faced by Top Shop company like threat of new entrants, threat of substitutes, bargaining power of customer and supplier and last competitive rivalry.

Threats of new entrance: It is a force which is made by industry in order by which they are facing barriers which are making profits. Company is leading with this competitive market where new entrances on customer are higher who are facing circumstances are defined below.

  • No government regulation
  • company not having good reputation in brand
  • lower customer loyalty
  • scale of economies can be achieved
  • switching of customers are low

Bargaining power of supplier: Company is building strong power in bargaining which sell higher prices of product with lower quality. Their having direct impact made on profits which are made on pay for materials. This include.

  • Few amount of suppliers but having many buyers.
  • Suppliers are holding scarcity of resources.
  • Switching cost on raw material is higher.

Bargaining power of buyers: Top Shop company is demanding with lower prices of product with higher quality of product which is making strong bargaining power(Purvis, 2015). Lower prices is determine by lower revenues which are leading with higher quality and usually increase cost of production. Here includes.

  • Buyers are leading with sensitive prices on product.
  • Their having many substitutes in market.
  • There exist only few amount buyers.

Threat of substitutes: this tactics is especially threaten easily of substitute products. Top Shop company is attracting with prices and better quality which switches on product and service with having minim um cost.

Rivalry among existing competitors: It is a major determinate used in competitive and profitable company. Top Shop is competing with market share which are resulting with low profits. Here, competitors’ rivalry includes:

  • High amount of exiting barriers.
  • Equal size of competitors.
  • Slowly growth of industry.

M3. Evaluation of different tactics applied by organisations

As marketing mix is an important technique for achieving organisational goals and objectives effectively and efficiently. This enables company to achieve marketing goals effectively and efficiently. With the help of 7p's one can market its product and services with more authenticity. Apart from this, to overcome company's competitors, organisations use the porter five force model which allows to identify new entrants in market, bargaining power of supplier and customers and according to that make strategy to achieve the goals.

TASK 3

P4 Evaluation of marketing plans for an organisation

Plans are prepared in document which are made by strategies in specific period of time which are relating with costs, actions, goals and objectives. Top Shop is looking after on accomplishing goals which are based on developing strategies.

Executed Summary: Plan is based on making attraction and focus of customers on product of Top Shop(Rancati, Gordini and Capatina, 2016). This is made in order to gain profits by leading with essential creativity. The plans are describe in order to product range in competitive market.

Company Overview

Top shop is a British multinational fashion retailer of clothing, shows and other make up accessories.

Vision and mission: Vision plan is based on future aspects in marketing. It is mention in in well defined manner by making measurements in step and progress. Top Shop is making useful plans and procedure which are leading with quality product and services. This services are offered to customer by ensuring delivery to make improvements.

Mission is described by leading business present growth by attracting peoples who are retaining and attracting towards it. Managers are in need for growing business in enhancing goals and objectives. Top Shop is leading with plans and procedure which are based on goal orientation .

Goals and Objectives: Top Shop company is making well define goals and objectives which are visioning in realistic terms. They are making continuous focus on direction and claritry in business of an organisation. Company is based on taking risk which is in order to achieve goals in SMART way such as Specific, Measurable, Attainable, Relevant and Timely. They are based on specific criteria of result and outcome. The smart objective for Topshop is the “ Explore the new world with social network”.

Marketing Research: It is link with the setting by identifying and defining opportunities resolving issues and designs. This collective information is based on various sources and implemented by making plans and procedure. It is based on making communication in regarding with purpose by finding issues on product and service (Godey and et. al., 2016).

Segmentation and targeting

The Top shop focuses on homogeneous market segment for the upper, upper – middle and middle class. The main target would be those people who has income bracket of 25000 – 250000.

Positioning:

The company wants to establish itself as renowned trademark. They would provide accessories to all tech savy professionals.

Budget: This is defined by financial plans made in during particular period of time. Company make its own production which include surplus, capital income, deficit and expenses(Rowley, 2016). Top Shop company is intended with proposals which are existing with expenses. Their impact came on by government and other organisations which are leading with taxation policy made on production process.

Expected Marketing Budget

Particular

Expenses

Market research

1000

Advertisement

4000

Agency fees

2000

Total

7000

Monitoring and controlling:

The monitoring and controlling is very important in order to review the market plan. As this allows manager to find deviation in plan and take corrective action.

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CONCLUSION

From the above mention report, it is concluded that performed roles and responsibilities are relating with the functions of marketing. Here concluded that product of Top Shop is m,aking higher production in market which are based on mix and process of planning. The evaluation is made by using plans of marketing. From using these plans their made estimation for making invention of new product. This is usually in context with achieving overall marketing goals and objectives. Company is opting new product innovation which is concluded for enhancing gains. Top Shop is basically leading with plans which are examining vision and mission, research, budget, SWOT etc.

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