ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 2 Marketing Essentials

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Re-submission Date Date Received 2nd submission

Student Name NGUYỄN VIỆT DUY Student ID GBH190037

Class GBH0808 Assessor name

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 1. INTRODUCTION

As a chief executive of marketing department of Pioneer, before the decision to reduce

employees in the marketing department of the company, I strongly disagree with this decision.
So in this report I would like to present and state the importance of the marketing department for
the operation of the business.

2. WHAT IS MARKETING?
Marketing was produced in the production of consumer goods in order to resolve the
conflict between supply and demand. Beginning in the United States, the convent spread
to other countries. Vietnam provided and learned about Advertising in the late 1980s and
early 1990s, when the economy was moving to a market mechanism (Nguyen, 2019).
Marketing gives customers a good understanding of the value of each type of product or
service in different and effective ways. In fact, it seems that consumers need to know
about and develop products and services. In addition, marketing helps to connect
relationships between the other divisions of the company, connecting consumers to other
businesses. In order to better understand the value of marketing, we will have experience
on the role and responsibilities of marketing and on the business relationship with other
departments.
3. THE MAIN ROLE AND RESPONSIBILITY OF MARKETING FUNCTION

I. Understand the Marketplace and Customer Needs and Wants

The first step is to consider Competition and Consumer Needs and Wants. Human needs
emerge any time there is a shortage of something. This requires several different needs,
such as physiological needs for water, food, sleep, clothing; protection needs for personal
safety, work, health; love and belonging needs for friendship, family, intimacy; needs for
status, independence, power and self-actualization (Mcleod, 2019). According to Philip Kotler
and Gary Armstrong, writing in "Principle of Marketing 15th" (2014), "wants are the type
 human needs take as they are formed by culture and individual personality" and "when they
are accompanied by purchasing power, wants to become demands. In order to improve
marketing strategy and attract more potential business clients, marketers need to carefully
study "wants" and "needs" because this is the original market offering problem. More
importantly, they need to define consumer information, information on products and services
offered by companies and other alternative products on the market, from which the marketer
will have a wider view of creating brands, knowing consumers and recognizing their purchase
habits, giving them what they need and making profits. In addition, knowing the "need and
desire" of the consumer will also avoid the promotion of myopia. Marketing Myopia is the
condition of a client

II. Designing a Customer-Driven Marketing Strategy

Business is difficult to meet all the needs of all its customers. If they want to make a lot of
money and attract business from rivals, the marketer must choose the best type of products
and services to provide consumers with consumer and market knowledge. Marketers must
divide the market, select the market segment and select customers, thus designing a
marketing strategy to meet customer needs and value (value proposition) (Kotler &
Armstrong, 2014). This process involves segmentation of the market, targeting of the market,
differentiation and positioning. High-end beauty brands such as DIOR, LANCOME, their
customers are mostly enthusiastic consumers and want to see them appear. This consumer
group has been analyzed on the basis of cultural identity, demographic characteristics and
economic capabilities. Over time, management orientations were born based on the following
five orientations: the concept of development, the concept of goods, the concept of sales, the
concept of marketing and the concept of society. The principle of production is that
consumers will choose products and services that are widely available and low cost.Business
is therefore primarily concerned with the development of as many units as possible. Through
focusing on optimum production levels, this company seeks to maximize profits through
harnessing economies of scale (Bhasin, 2019). The definition of a product can be quickly
interpreted as a brief description of new products, from product ideas to functionality and
highlights of new products. The definition of the product not only allows departments in the
 business to understand the new product, but also later uses it in promotional materials to
support the new product line (Phuong Duy, 2019). The sales strategy seeks to sell the
products of the business, with the goal of persuading customers to buy items.

III. Preparing an Integrated Marketing Plan and Program

The next step is to execute an integrated marketing plan and system that provides superior
value.The marketing strategy of the company outlines which customers will serve and how to
create value for these customers. Marketers are creating an integrated marketing program
that develops customer relationships by turning marketing strategy into practice. This
includes the marketing mix of the company; the marketing toolkit that it uses to execute its
marketing strategy. The 4Ps Marketing model was developed in the 1960s by Economist E.
It's Jerome McCarthy. Since then, the 4Ps Marketing model has become popular and used,
as well as taught in companies and colleges around the world. The 4Ps Marketing Model is
also the basis for the marketing mix concept in general (The Marketing Mix, 2019). The
marketing mix typically consists of 4P goods, locations,promotions and prices. In order to
follow the value proposition, the organization must first create a product that meets its needs.
We will then have to determine how much they will charge for the delivery (price) and how to
deliver it to the target customer (place). Finally, the company must contact the target
customer about the deal and inform them of its importance (promotion). (Cotler & Armstrong,
2014). The Marketing Mix 7Ps model is an extension of Marketing Mix 4Ps, dedicated to the
provision of intangible services. The remaining 3 elements of this model are the target
customers that companies target (people), procedures, structures that help businesses
deliver services on the market (process), and retail and wholesale as well as product
packaging (physical evidence) (The Marketing Mix, 2019). The above marketing model has
enabled companies to build effective marketing campaigns and offer the expected value to
their chosen customers. In addition, advertisers must change a number of factors to fit into
the external marketing environment.

IV. Building Customer Relationships

 Creating customer relationships is the secret to the marketing work. According to Kotler
and Armstrong (2014), the customer's decision on the relative benefits and costs of a
company's market proposition compared to its competitors is the factor that defines the
customer's preference of one product over another. Marketers need to concentrate more
on customer relationship management-the overall process of building and maintaining
sustainable customer relationships by providing superior customer value and satisfaction.
When customers like the products and services they provide, they will be more supportive
of the product and more profitable for the business. It is therefore crucial to maintain
customer satisfaction at the highest possible level by offering exceptional services and
letting them know that they are buying the right product. On the other hand, the
development of partner relationship management is suggested. Partner relationship
management involves working closely with partners in other corporate departments and
outside the business to bring greater value to customers together. It is also important to
establish a relationship between the seller and the customer. The aim and center of the
concept is to build good relationships with customers on the basis of their value to the
business. In a true external marketing environment, marketers must consider all macro
and microeconomic factors to measure the internal potential of their customers. For
example, the rich in China have increased rapidly in recent years, and demand for luxury
goods has also increased significantly.

V. Capturing Value from Customers

Creating and capturing the value of the customer is the final step in the marketing
process. Successful companies are trying to satisfy their customers and to capture value
from their customers. Through understanding consumer trust, companies are building
long-term relationships with their customers. Satisfied customers tend to buy more and
stay loyal to the company, resulting in higher long-term profits. In order to foster positive
results of value creation, companies tend to build customer loyalty, retain the value of
their customers ' lives and make a profit from the value of their lives.
 4. THE INTERRELATIONSHIP BETWEEN MARKETING FUNCTION AND OTHER
FUNCTIONAL UNITS OF A BUSINESS.
1. Marketing and Top Management

Marketing and Top Management Top management is a business leader, so the relationship
between this department and the marketing department is an exchange of information. In order
to come up with an effective strategy, the marketing department will provide top management
with all customer, market and product data to select the appropriate strategy and bring more
profits to the business. The people involved between these two organizations will work together
to make the best decisions on marketing activities. After that, the top management should set
the requirements for the marketing department, such as products, sales, etc., so that they can
execute the plan as effectively as possible. But if top management sets the standards and
expectations too high, it will lead to duplication of work, leading to a drop in productivity.
Nevertheless, in the implementation of a marketing strategy, there may be discrepancies
between these two divisions due to inaccurate knowledge or confusion. If the information
provided is incorrect, it will lead to a number of wrong business decisions that prevent the
company from making a profit that could lead to bankruptcy.

2. Marketing and Finance & Accounting

Finance & Accounting and Marketing are the three pillars on which company growth and profits
are based. The Department of Finance is part of an organization that is responsible for the
acquisition of capital for the company, the management of funds in the organization and the
planning of expenditure of funds for various assets. It is part of an organization that maintains
the efficient financial management and control necessary to support all business activities
(Pharmapproach.com, 2019). The finance department is the main provider of financing for all
programs and operations of the marketing department. No promotion and advertisement of the
company's product revenues will boost and no money will be generated, no profit will be made,
no marketing will need funding, because the basic function of finance is to find ways to increase
profits, and when there is no income, the whole functional finance will become obsolete.
Similarly, for successful marketing, people need a strong financial base because it is financed
through which the company sets out its marketing objectives as sales objectives. As it can be
seen above that marketing and finance are like husband and wife, even though they will always
have differences of opinion, they will be together forever, because both are connected together
and can not function in isolation, and therefore businesses should see marketing and finance
instead of different departments, both should be able to work together to help the business.

3. Marketing and R&D and Manufacturing

Manufacturing, R&D and Advertising work together on new products. Marketing is in a position
to find out what people want. Manufacturing will show you what you need to do and how you can
make price / time changes. R&D continues to pursue business practices for the creation and
launch of new products and services. The company will spend a lot of time and money
producing a new product or service and successfully putting it into operation, making the
development stable after the product or service is launched. It's important to have these three
parts. Nevertheless, the relationship between the R&D department and the marketing
department of the company is not always intimate. According to a survey conducted by Philip
Kotler, Robert C. Wolcott and Suj Chandrasekhar, only 34% of middle managers identified the
relationship between the R&D and marketing departments of their company (Technology, 2019).
But if they work together and always in harmony, the company will work very well, optimize
revenue and generate very high profits. The result of the combination of these three parts is KFC
to be better understood. The original product of KFC is the original recipe of fried chicken pieces
that Sanders discovered with "Recipe with 11 herbs and spices." However, when it comes to
Asian markets such as China, Vietnam, Japan, the marketing and R&D department will have to
study the needs of customers, eating habits and shopping behaviors in order to be able to
regulate them. Adjust the menu to suit consumers best in each location

4. Marketing and Human Resource

Marketing and human resources are not as different as people think they are. Department of
Human Resources regulates and plans to recruit employees to the business. The Department of
Marketing will manage communications and marketing on the recruitment programme. HR and
marketing are working together to create the identity of the company. While the marketing
department communicates the brand of the company to its clients, HR and promotional alliances
give workers the brand of the company. Businesses are developing a common brand image
using social and technology-based methods that appeal to workers and consumers (Thatcher,
2017). Though, there will be a dispute between the two teams when they have different thinking
about recruiting conditions or post-hire dissatisfaction. Sainsbury's sponsorship of the 2012
Paralympic Games is a good example of putting marketing and HR together.Sainsbury's is the
first ever level-one supporter of the game. Burr links individual Paralympians with their sport to
the store property, ensuring the active involvement of both employees and customers. This has
given rise to the greatest excitement among workers of any single activity over the past five
years, according to Chief Executive Justin King of the organisation. More than 3,000 colleagues
applied for 150 voluntary positions at the Paralympics (Harrington, 2011).

5. CONCLUSION

The function of the marketing department is extremely important to the production and business activities
of the business, it affects many factors and many other departments of the company. So I hope the board
of directors will change the decision and in the future it will focus more to develop a growing marketing
team instead of cutting employees.

6. Reference

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