Unit 1 Marketing Essential HND Diploma in Business Level 5 Regent College
Introduction
Marketing essentials are having a vital role in managing business activities. It is a wide term and can be used in the business. This can be a great element for developing the products and their demand. To sustain in the long run it is very important for the business to use the marketing essentials so that all trade activities can be done smoothly (Dibb and Simkin, 2013). The study is based on Wagg limited, it is a pet food company and operating trade activities in UK. The company has to work for the development of society and its customers. In this report, the role of the marketing mix, their impact on business and key responsibilities of the marketing function are to be described. The purpose of the report is to find out and address the essentials of marketing and their significance in business.
Task 1
1. Roles and Responsibilities of the marketing function in launching the new product
Wagg is one of the leading pet food company in United Kingdom which manufacturing number of pet food for dog, cat and rabbits and it going to launch new dog food to capture market share and earn appropriate profit. Marketing assist to organisation to meet the business organization.
Identify customer need: it is basic task of marketing to find the requirement of the customer, the manager should know about desire of them. In this process of identification of the need of market these two source are having significant role:
·Internal channels: getting information or design servery to know their expectation from the company though sales team or customer feedback which assist to company to make an effective marketing strategy in future business operations (McDaniel, Lamb and Hair, 2012).
·External channel: these sources of information through digital marketing media to recognise the need of the customer and try to convert into desirable goods.
These two sources of capturing consumer data helps to Wagg marketing manager to make an effective marketing strategy to launch suitable pet food for the target customers (Stone and Jacobs, 2008).
Evaluation of market competition and track trends: this marketing function quietly familiar from the above role Wagg manager must know the market competition and organisation position in the market among its revelries company. Marketing assist to identify the current trends regarding the taste, fashions, and expectations of the existing and potential customers of the company. At Wagg evaluation of these factor helps to launch new pet food and earn business objectives.
UPTO
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