ASSIGNMENT 1 FRONT SHEET
Qualification
BTEC Level 4 HND Diploma in Business
Unit number and title
Unit 2 Marketing Essentials
Submission date
Date Received 1st submission
Re-submission Date
Date Received 2nd submission
Student Name
NFUYEN THI HANH DUNG
Student ID
Class
GBS0801-NX
Assessor name
GBS18187
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that
making a false declaration is a form of malpractice.
Student’s signature
NGUYEN THI HANH DUNG
Grading grid
P3
M3
1
 Summative Feedback:
Grade:
 Resubmission Feedback:
Assessor Signature:
Date:
Internal Verifier’s Comments:
Signature & Date:
1
MARKETING
I.
INTRODUCTION
These days, it of course cannot deny the fact that the demand and desire for quality products
and reasonable prices of people is increasing. Therefore, marketing is a very important role in the
company.
Marketing is the process of exploring, promoting, trading and distributing products or services of
your company or organization to suit the needs of consumers or markets to create profit for the
business. Marketing concept is focus on satisfying the needs and wants of target markets. It find the right
customers for your product and find the products that fit your customer.
As a result decision to cut down the expense as well as human resource for Marketing function of
the Board of Director is inconsequential. In this report, the key roles and responsibilities of the marketing
function, in organizational context and in the context of current marketing environment, are going to be
clarified as well as the interrelationship between marketing function and other functional units of a
business will be displayed.
II.
THE DEFINITION AND BASIC CONCEPTS ABOUT MARKETING.
1. Marketing definitions: according to Philip Kotler’s marketing definition:
“Marketing is a form of human activity that satisfies their needs and desires through
communication.”(Philip Kotler) A social management process whereby different individuals and groups
of people get what they need and desire through creating, exchanging, and delivering products with
others called marketing.
2. Marketing core concept: in addition to the definition of marketing, marketing core concept are
also things to know. It has 4 basic concepts about marketing.
a. Needs, wants and demands
First, needs are indispensable basic human needs such as water, air or food. It means that it is a
necessary need to satisfy human life. Life will be worse and more difficult if the urgent needs of people
are not satisfied.
The next, an urgent need has a specific form, corresponding to the educational level and personality
is wants of people. Society always follows new and more developed trends that lead to the increase of
people ‘s desire. Since then business have started to produce many products that fit their needs,
stimulating them to buy products to generate revenue.
2
Finally, demand is a combination of needs and wants, able to understand that it is the products
that customers need to using and the number of products purchased by consumers. Human’s demand
are desires with additional solvency conditions. Desires will become demand when guaranteed by
purchasing power.
b. Products and services
Products are a commodity or anything tangible that can be exchanged, traded or marketed such
as food, utensils, vehicles, etc.
Services are intangible products that do not bring tangible benefits. It cannot be transported,
stored and sometimes the manufacturer of the service is also a seller such as medical services, repair
services.
In short, products and services are manufactured to serve human needs to make a profit for the
company or business.
c. Value and satisfaction
Value is a description of the customer’s assessment of the difference between the utilities
obtained in terms of total product and cost to obtain that benefit.
Good perception, less price sensitivity and loyalty to products and services are customer
satisfaction. It also depends on the performance and quality of the product. If the product has good
performance and is in expectations, it will get customer’s satisfaction and vice versa.
In short, the most successful in the market is being able to offer the best products and services to
please customers and get the trust from them.
d. Exchange transactions and relationship
▪ Exchange is an action that takes place from all sides to give and take. One of the core concepts of
marketing is exchange. Of course, for that process to happen, five conditions must be met.
3
These 5 conditions constitute a potential for exchange
At least two Each side has
parties ( to something that
exchange).
can be valuable
to the other.
▪
Each
party
freely accepts
or rejects the
other’s
proposed
product.
Each party has
the ability to
communicate
and distribute.
Each
side
believes it is
necessary and
beneficial
to
have relations
with the other.
Relationship is the cohesion between customers and businesses. That is, the relationship help
customers long. Marketers must know how to building customers relationship, partner relationship
management, capturing value from customers and observe to find out products and services to
satisfy customers.
3. The development of marketing though time:
Along with the development of information technology and economic market environment,
marketing management has also developed.
A process of managing the marketing process of company products and has a different strategy for
the customer is management orientations.
PRODUCTION
CONCEPT
PRODUCT
CONCEPT
SELLING
CONCEPT
MARKETING
CONCEPT
SOCIETAL
CONCEPT
( Commercemate, 2019 )
•
•
•
The first is production concept. Consumers will favor products that are available and affordable
and this also the oldest marketing concept. In this concept, the company or business will not
focus on what customers need but focus on producing cheap and affordable items.
Next is product concept. Consumers will favor products that offer the most in quality,
performance and innovative features. However, the company or business will also focus on the
demand of its customers based on the best knowledge to produce.
Continue from management orientations, selling concept focus on the number of products sold
out. Of course profits will increase if the number of products sold is much. And consumers will
not buy enough without a large scale selling and promotion.
4
•
Moreover, marketing concept is focus on satisfying the needs and the wants of target market.
It find the right customers for your product and find the products that fit your customers.
• Finally, societal marketing concept is the concept of nature for the community. Providing
customer satisfaction and making a profit is a must for corporate companies.
(https://quizlet.com/27419772/marketing-chapter-1-flash-cards/)
III.
KEY ROLES AND RESPONSIBILITIES OF THE MARKETING FUNCTION
1. The key roles and responsibilities of the marketing function in organizational context:
Marketing Process can be consider in term of all the main responsibilities of marketing
function, from identifying customer needs and wants, to create profit for the business are
reflected by this process.
Determine needs and
wants
Design customer driven
marketing strategy
MARKETING
PROCESS
A figure simple or marketing process
( Prentich Hall, 2007)
Build relationships and
delight the customer
Construct marketing
program that delivers
superior value
Capture value from customer
to achieve profits
5
2. The key roles and responsibilities of the marketing function in the context of current marketing
environment.
• Digital age: with the development of technology, digital plays an important role in the field of
marketing. Instead of bringing products to market with traditional media ads or billboards,
digital access to more modern ads like google, Facebook, etc.
The explosive growth in digital technology has fundamentally changed the way live-how
communicate, share information, learn, shop, and access entertainment In turn, the way
companies bring value to their customers has been impacted by it. For better or worse,
technology has become an indispensable part of live.( Kotler, 2013)
These days, the number of people using social media worldwide has increased by 13% in 2018
compared to 2017. Means 3,196 billion people participate in one of the social media
channels across the planet.
Report on digital data in Vietnam:
(Spring: We Are Social)
•
Globalization: According Philip Kotler, Gary Armstrong (2013)
As they are redefining their customer relationships, marketers are also taking a fresh look at the ways in
which they relate with the broader world around them. Today, almost every company, large or small is
touched in some way by global competition. Managers in countries around the world are increasingly
taking a global, not just local, view of company’s industry, competitors and opportunities.
•
Consumption trend: according Euromonitor International company: Consumer behavior and
interest is changing - and brands need to understand the new movements that are being
6
advertised if they want to continue to talk to their audience in an efficient and innovative
way.
Consumers are also reevaluating their consumption habits, rejecting materialism and
consumerism, and giving preference to simpler, more authentic experiences. A reflection of
the anti-popularization trend that lies in the beverage market, the increase in consumption of
craft products (such as craft beer).
• Ethics demand: above all, creating products that meet the needs of people also need to
ensure professional ethics. The business should produce products friendly to the
environment, ensure health for clients with sustained commitment to product development
and brand. Besides, knowledge of customers in developing countries increases lead to
demand for their products also increased. They desire products to ensure the health and have
high nutritional value more than that with no additives whatsoever. Growing at a CAGR of
5.1% during the forecasted period (2018-2023) is expected of the global ethnic foods market.
According to the statistics of a company market research: the products are raw material to
ensure the friendly environment is about 80% of Vietnamese consumers willing to pay more
money to buy.
According to the research results of the Nielsen company at Vietnam. The brand is committed
to “green” and “clean” increase of 4%. For example, growth faster than the market woods
2,5 to 11,4% for industry food and beverage.
➢ IN SHORT, MARKETING MUST HAVE THE ADVERTISING PLAN THROUGH FACEBOOK OR GOOGLE, ETC.. TO CATCH UP IN
THE ERA OF TECHNOLOGY AND THE TRENDS OF CONSUMERS. THE COMPANY NEEDS TO HAVE A LOT OF TIGHT STRATEGIES
TO OUTPACE ITS COMPETITORS. NEXT, THE COMPANY SHOULD TRADE AND COOPERATE WITH OTHER COUNTRIES TO
IMPORT AND EXPORT GOODS WITH THE AIM OF CREATING BENEFITS AGREEMENT AND KEEP THE BRAND MORE
SUSTAINABLE.
➢
IV. THE INTERRELATIONSHIP BETWEEN MARKETING FUNCTION AND OTHER FUNCTIONAL UNITS OF A BUSINESS.
Speaking of which, probably everyone knows marketing is a ministry that plays an extremely
important role in the business. It helps research discover customer needs so the company can satisfy
that need. Of course, marketing also needs to work with a variety of customers to achieve the goals set.
Other function cannot completely replace marketing, but only one marketing department cannot
achieve good results. The success of a company can be attributed to the harmony and companionship
among the functional departments.
1. Finance function: Finance and marketing are two important parts of the company and the finance
department is the place to pay for marketing function. These 2 departments will support each
other in marketing profit. The company needs to advertise and publicize the product to make a
profit. And finance is the part that must calculate and pay for advertising of marketing. Both of
these two departments must work together and if one of these two parts is lacking, it will be
difficult for the company to achieve the goal.
7
However, sometimes these two parts will also cause some conflict. One of the cause of conflict is
marketing function wastes too much on advertising. Most have poured a lot of finance into
marketing department. For example, when the finance department only paid $500 for the selling
concept or marketing concept, but the marketing function need $700. Of course, a conflict
between the two divisions will occur if the finance department does not agree.
2. Operations function: operations that delivers on the promises that marketers make. If we simplify
each of these functions, it will look like this. Marketing = find out what customers value, tell them
they can have it and how to get it. Operations = provide value. They work together to find and
come up with innovative ways to give customers what they want. Marketing must always act as a
“voice of the customer” and thus help focus activities to achieve customer satisfaction. Because
the activity sometimes has strong and direct customer contact it can often help guide. Marketing
towards new/expanded business opportunities.
3. R&D: the strong competitive weapon of many jobs is the combination of marketing and R&D
function. That means both must really focus on discovering and following customers’ needs,
which will lead to greater efficiency in their work.
The main conflict between R&D and marketing is probably due to lack of harmony. R&D is
responsible for providing research information for marketing. If R&D provides false information,
it will lead to a conflict for both.
4. Production function: marketing and production function have their own roles, but in order to
increase profits and meet the needs of customers, both functions need to work closely together.
Marketing will learn and discover about customers’ needs and wants. From which production
function will create new products and manage product quality. In addition, the production
department must also arrange for deliveries.
V. CONCLUSION
Finally, from the definitions, data and analysis above, can find marketing hold a very important role and
is an indispensable function in the company. It is one of the core departments help the company to
research and uncover customer needs in order to create profits for the company. Marketing is also parts
the main link between the other sets work together to complete the goal of the company.
In other words, the marketing function is the bridge between business and market. Marketing activity is
indispensable if the business or company want to develop and the right firmly entrenched in the market.
In short, the dismissal of the marketing function is impossible.
8
REFERENCE
Philip Kotler, Gary Armstrong ( 2013 ), Principles of Marketing Plus MyMarketingLab with Pearson eTextAccess package (2013,Prentice Hall) p.45.
Euromonitor International company, The 10 global consumption trends in 2019, available at:
https://www.smart-marketingnews.com/market-research/the-10-global-consumption-trends-in-2019.
Song, K., (2018), Quora, How do marketing and operations work together?, viewed 28th 2019, available
at: https://www.quora.com/How-do-marketing-and-operations-work-together.
We are Social and Hootsuite (2019), OscartranAds Digital Blog, viewed 28th 2019, available at:
https://oscartranads.com/research-report/bao-cao-so-lieu-digital-2019-tai-viet-nam.html.
Advertising Vietnam-December 31,2018, Digital Marketing Institute, available at:
https://advertisingvietnam.com/2018/12/nhung-con-so-thong-ke-an-tuong-ve-social-media-nam-2018/.
Commerce mates,(n.d.), view 28th September 2019, available at:
https://commercemates.com/marketing-management-orientations/.
9