This report will define and explain the following marketing terms: Marketing Objectives What role the functional areas play in supporting marketing activity Marketing MixIn this report it will show examples of the above

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 Marketing Assignment

Introduction

This report will define and explain the following marketing terms:

  • Marketing Objectives
  • What role the functional areas play in supporting marketing activity
  • Marketing Mix

In this report it will show examples of the above and by the end of reading this report the marketing terms should be really easy to understand.

Marketing Objectives

The marketing objectives are set from the main business objectives and are made by the chairman or the board of directors. So a company objective might be to increase company profits and marketing will help them achieve this.

A company might have a vision of how it sees itself in the future and they might have a mission statement that sums up everything they are trying to aim for. From this they will set objectives that are the small steps that they have to take to achieve the vision. The marketing department, along with other functional areas, will help the company achieve their overall objectives.

Marketing Objectives then are a big part of the marketing proposal that will be drawn up to help the company achieve its aims. If a company did not have clear objectives it is difficult to see if they have achieved their aims or their plan was successful. Objectives are often said to be SMART – Specific, Measurable, Achievable, Realistic and Timebound.

Specific – the objectives should relate to the market and the environment of which the organisation is involved in.

Measurable – to make sure they can measure to see if the organisation is successful in meeting the marketing objectives.

Achievable – the objectives must be attainable for the organisation or they will not be successful at achieving their objectives.

Realistic – objectives must relate to what the organisation actually does.

Timebound – make sure the objectives are achieved within a set period of time.

Here is a marketing objective that a company like ASDA might use: ~ To increase the awareness of the internet shopping service so that 50% more customers are using the service within 6 months.

To summarise, marketing objectives should be achievable so they should be set within the organisations capabilities. They should also be understandable so that everyone in the company knows what they have to achieve by when. They should also be also challenging so the employees have something to work for. Finally they should be measurable so the organisation can see if they are reaching their targets or if they are not being met.

If objectives are not being achieved the company will readjust their objectives by altering their activities.  


How functional areas play part in supporting market activity  

The business activity is carried out in a company by having functional areas that work together to help the company achieve its aims. These include:

  • Marketing
  • Finance
  • Customer service
  • Operations/production
  • Human resources
  • Administration/ICT

All of these functional areas work together and they support the marketing function. For example they may help with the following:

  • Finance allocating budgets to support promotional activity;
  • Research and development designing new products that consumers will like to be introduced to.
  • Production producing a lot of products to keep up with the amount of sales.

Human resources help marketing by recruiting the right staff for the job and the proper training needed for the staff so they are qualified for the job. The recruiting and training determine the out come of the overall quality of product or service. The human resources department also has to keep all the employees focused on their job so they have to think of ways to motivate the employees.

Finance office is part of every functional area because all functional areas need to know their budget that they can spend so they stay within the amount that they have been set. The finance department also keep record of all events that occur and are responsible for producing the annual financial account.

Marketing plans how what service or product should be advertised to be the best way for the business to make a profit and keep within the budget. The marketing department is also responsible for identifying, anticipating and satisfying consumer requirements to make a profit. The marketing work closely with the research and development to ensure they achieve the product or service that meets the consumer needs and requirements.

Production area has to get the budget set by finance office and see how much they can spend to make this new product or service and they also have to use the right employee which is where the human resources come into play in the production. The production department need to produce a product to make the customers satisfied. The production is one of the most difficult functional areas to do because they have to get the quality of the product or service just right and this department is usually the one which spends most on employees, assets and has the largest amount of capital.  

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ICT keep track of what all the functional areas are doing within the company and see if they are sticking to there budget and if the employees are doing there job to the best of there ability.

It is important for all organisations to have all these functional areas working together effectively to ensure they are one step ahead of any competition and that they are getting the most customers which results in a bigger profit. ICT has a big impact on how customer needs are met that’s why ICT is critical for a business to have and plus every functional ...

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