Question :
This report states that TK-MAXX recently added three new board members and firm need report from newly appointed marketing manager. Main aim of the report is to tell board members about existing issues in the enterprises.
- Describe role of marketing in TK-MAXX and its relationship with other departments of the company.
- Compare and evaluate use of marketing mix elements in reaching business objectives.
- Construct and analyse marketing plan for TK-MAXX.
Answer :
INTRODUCTION
It can be said that marketing requirements and essential elements are important as well as necessary for businesses in order to manage and control different strategy the helps to enhance production and profitability. The report will analyse responsibilities and roles of a marketing function manager and environment along with the interrelationship between functional units and market effectively. The 7ps of marketing mix model will be described I this report associated with various tactics and strategies to accomplish desired goals and objectives efficient. Finally, the report will demonstrate basic marketing plan, strategic marketing plan and coherent evidence based marketing plan.
TASK 1
A. Key Roles and Responsibilities of the Marketing Functions related to wider organisational context
It can be said that marketing functions plays an important role in order to promote business that helps to reach desired goals and objectives effectively. Marketing functions includes factors such as product development, marketing plan to produce, performing market research etc. This will also consider promotional activities, distribution, sales, public relations, advertising and customer services in the market. There are so many duties and responsibilities of a marketing development department which may include following factors:
This will help to conduct management campaign for marketing initiatives in order to promote business products and services in the market towards customers effectively. Monitoring and managing marketing functions will also help to contribute accounts on internet which will be managed controlled well by TK Max business effectively and efficiently. Conducting marketing research that helps to determine target markets and customers in order to make opportunities which helps to increase production and profitability. Strategic marketing is one of the most crucial part in order to make marketing function strategies in order to promote business goodwill and image positively in the market towards customers.
It can be said that each of the business function operates separately in order to meet requirements and demand of business customers in the market. Marketing functions towards effective management can be achieved by different new and innovative ideas I the market that helps to promote name collecting and analysing different market data and information related to the current trend and also marketing functions which is completed by business.
B. Key Roles and Responsibilities of the Marketing related to wider organizational context
It can be analysed that it is the role of marketer to develop strategies and plans that helps to achieve business objectives and goals effectively. The firm should determine customer needs and requirements that helps to add value in products and services to communicate with superior values which is the major role of marketer in the market. It is concluded that strategic planning takes place at four levels such as division, corporate, business units and products and services. Marketing information system MIS helps to provide information which is useful for business and distributes in a timely and effective manner to the marketing manager of TK max needed for planning purpose, product and service analysis, implementation of plans and controlling responsibilities effectively. It can be said that a large firm is not able to connect with business and all the customers in the market with a diverse market. The firm should work on specific group or community of consumers in order to deliver quality and better services to customers in the market hat also help to increase competitive advantage effectively.
In order to take such types of decisions within business, a deep and effective knowledge as well as skills are required towards behaviour of customers. Good balance of customer in terms of behaviour and satisfaction should be maintained by managers to monitor competitors.
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