Unit title: Marketing Essentials

Unit no: 02

Unit code: R/508/0486

Marketing Essentials

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Abstract
This report is based on the marketing concept and its essential elements. Why a company adapts
some marketing strategy and plan while performing business is discussed in this report. In this
report, it’s mentioned how a good marketing plan should be created and how it will affect the
market and customers. Marketing mix and other essential elements of marketing concept
discussed briefly in this report. Besides, how a company makes an entire marketing plan and
how to operate this plan is shown in this report. With functioning entire marketing plan
thoroughly, any company can launch their new products or services and will able to draw
customers attention. Therefore, this report will give insight knowledge about the whole

marketing concept and how to operate and maintain an effective marketing strategy plan. Not
done

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Table of Contents
Abstract............................................................................................................................................3

Introduction......................................................................................................................................5

LO1 Explain the role of marketing and how it interrelates with other functional units of an
organization.....................................................................................................................................6

Company Overview.....................................................................................................................6

Marketing Department of EnVeritas Group................................................................................6

Marketing Trends of a Company.................................................................................................7

Key roles and responsibilities of the marketing function............................................................8

The interrelationship between marketing and other functional units........................................10

Critically analyze and evaluate the significance of the marketing functions and how they
interrelate with other organizational functions in meeting common goals................................12

L02 Compare ways in which organizations use elements of the marketing mix (7Ps) to achieve
overall business objectives............................................................................................................14

Marketing Goals and Objectives...............................................................................................14

Marketing Scanning for a Marketing Plan and Strategy...........................................................16

Develop an effective marketing strategy with a marketing mix(7Ps).......................................17

Comparison and evaluation of the company.............................................................................19

L03 Develop and evaluate a basic marketing plan........................................................................20

STP Analysis.............................................................................................................................20

Budget........................................................................................................................................20

Control.......................................................................................................................................21

Conclusion.....................................................................................................................................22

Reference.......................................................................................................................................23

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Introduction

For performing a business, a company takes helps from its different functional units, like
finance, HR, marketing, accounting, etc. A company needs to build an interconnection between
all the internal units. Among these functional units, marketing is the most important and creative
one. Marketing is a process where a set of activities and processes are taken for creating value
for the customer and build a relationship with them (What is Marketing? — AMA, 2017). It’s
engaged the customers with a product or company. For achieving business profits, a company
drives the attention of the customer towards the company. The marketing department works in
this regard. This department makes all the necessary strategies and plan to create a relationship
with the customers and can have economic profits for a longer period. Marketing helps a
company to segments the market and target the most appropriate customer group for better

experience and outcomes. Not done

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LO1 Explain the role of marketing and how it interrelates with other
functional units of an organization.

Company Overview
Goodman Lantern is a UK based content marketing and research agency company. It founded in
2014 in Hove, UK with offices in London, Singapore. They provided digital content marketing,
custom software development and consultancy with business people to sell better at affordable
price. Besides, they give service on development and strategic based social media network
(Goodman Lantern, 2020). People can consultant with this company about how to prepare a
effective business strategy and also develop their content and promotional campaign with their
help. With their creative and digital content, software and other services, one can accelerate
one’s business growth and generate more business profits.

Marketing Department of Goodman Lantern Group

Marketing is a process where companies create customer values and build strong customer
relationships to capture value from customers in return (Kotler, Armstrong, and Opresnik, 2013).
It’s engaging customers and maintaining a good relationship for having a profitable business
policy. I am working as a trainee marketing officer at Goodman Lantern. Being the trainee
officer, I have to research on different marketing functions and have to show a effective way to
integrate these with my company to develop a sustainable marketing strategy. This report is
based on current market trends, concepts, and showed how these affects the company and
business and also discuss about the key marketing functions within a company.

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Marketing Trends of a Company
Current Trend of EnVeritas Company

With changing customer's needs, perceptions, tastes, the market is also changing constantly. To
keep pace with this change, a company needs to change its trend from time to time. The current
marketing trend on which EnVeritas Group should focus on:

New Media Marketing Tactics: A strong and well-planned marketing strategy build up with a
good promotional strategy. Now the world is surrounded by electronic media and social media.
By engaging with these new media, EnVeritas Group can connect with its target group in a very
effective way. The marketing manager of EnVeritas Group can invest in this sector to its
marketing strategy to reach the maximum number of customers. This can enhance the company’s
growth rate as well as generates more profits than before.

Creative Content Marketing: As a content marketing agency, EnVeritas Group is creating

relevant, valuable content for the companies. Content marketing needs to attract the customer’s
attention by drawing and creating interesting, creative, and relevant content for them. That’s
why, if EnVeritas company give focuses on creating more creative content rather than the
traditional ones, they can able to drive profitable business action.

Future Trends of EnVeritas Group

Following the current marketing trends, EnVeritas Group needs to focus on some future trends
also. These are:

Relationship Marketing: Building a good relationship with the customers is one of the main
cores of the marketing strategy. A good relation with customers will bring profits and good
outcomes in the future. The marketing department of EnVeritas Group can enhance its
relationship with its customers by satisfying the customers with its services and should focus on
valuing the customers rather than the company’s profits.

Ethical Marketing: This marketing will be the main focusing point for customers in the future.
Ethical marketing is referring to as the process where a company gains customer's interest and
builds a strong relationship with services and products and increases the company’s value by
considering social and environmental (Perreault, 2018). EnVeritas Group will have a healthy
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relationship with customers as well as social and environment through this kind of marketing
which helps EnVeritas Group to grow and have customers’ positive feedback.

Key roles and responsibilities of the marketing function

When marketers know and understand about customers need, want and demand, they can arrange
and modify their strategy and marketing plan according to customer-driven policy. Now it’s time
to value the customer and create a good relationship with them. To satisfy a customer, marketers
have to value the customer’s choices and value the products correctly to keep a relationship with
him/her. The required marketing process to know and create customer value is:

Understanding customer needs and wants and marketing

place as well

Designing a customer value driven marketing strategy

Constracting an effiecient marketing plan that ensure

superior value

Building a good and healthy relationships with customers.

Capturing value from customers and create profit from it

Figure 1.1: Marketing Process: creating and capturing customer value

Source: (Kotler, Armstrong and Opresnik, 2013)

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Marketing is all about the deal with customers and creates value with them to have profit and a
good relationship with customers. Before taking any strategy or roadmap, marketers need to find
ins and outs about the marketplace, environment, and the target customer. Differentiating
customers need, want, and understand their behaviour is the starting of making a marketing
strategy. Then, with this analysis and report, they need to fix a plan and create products where
customers can search for their demands. An efficient and constructive marketing plan can ensure
the best quality according to customer preferences. Marketers always have to ensure the best and
superior products to their customers. Then, gradually they need to gain customer's trust and
create a good relationship with them. Thus, the marketing process can finally capture the
customer's value and ensure their profitability through the entire process.

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 The interrelationship between marketing and other functional units
A business organization consists of many departments and functional units. Each unit plays a
significant in performing the business and make a profitable outcome at the end of the year. Each
unit has specific works and functions to perform and they all are inter-dependent to each other. If
any of the units do not perform accordingly, it will affect the whole organization. The marketing
department is one of these units. This department is the main reason to build and sustain the
company for a longer period. The marketing department engages customers to the company or
products and builds a strong relationship with them for future benefits. The relationship between
marketing and other functional units in business are:

Function Function Perspective Marketing Perspective

Finance Fix yearly budgets, decide on where to This department uses the budget
invest, and take necessary decisions to efficiently in promoting the company
remain financially benefited. or products and fix the prices of
products that allow in the market.

Production Design for the products and maintain Design and make a strong
standard quality. Make decisions about promotional strategy for the products.
which products to produce and how it Changes according to the
will affect the customers. marketplace, customers, and the
environment.

Accounting Calculate whole revenue, cost, profit, They focus on how to sell the
loss, etc, and keep updated about the products and have positive feedback
company’s financial condition from time from customers. They need to build a
to time. good and strong relationship with
customers to have a financial benefit
in the future.

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Research & Research and advise on how to increase Research the market through a
Development growth and production rate and other marketing mix and use it to launch a
functional attributes. new product or service in the market.

A company in segregation format works better and efficient than in other formats. When a
company segregates its functions into respective departments, then each department can know its
respective function and the relative works on it and can focus and perform it efficiently
(Sherman, n.d.). For example- EnVeritas Group has divided its entire functions into many
individual departments, like Operational, Data, Finance, HR, Marketing, etc. to focus on their
function and perform it efficiently. The company needs to ensure good communication between
all the departments and work together to carry out better performance and growth rate.

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Critically analyze and evaluate the significance of the marketing functions and how
they interrelate with other organizational functions in meeting common goals.

While making a marketing plan for a company, it’s required to analyse both the internal and
external business environment. For this analysis, PEST will help to analyse external factors, on
the other hand, SWOT is for the internal factor.

PEST Analysis: This analysis will help the company to know about its external factors.

Political: The changing government, political parties, legal rules, and regulations impact
severely on any company. So, before making a plan one needs to research and identify the
political and other conditions and act accordingly.

Economic factors: Every marketing plans are customer-oriented. Before making a new move,
one needs to know about the economic condition of one’s target group of customers whether
they can afford it or not.

Political

Technology PEST Economic

Social

Figure 4.1: PEST analysis

Source: (Self-made)

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Social factors: Consider social needs and values that can help to create a brand value for the
company. It helps the company to generate more profits.

Technological factors: Technology is the main focusing point in promoting any business or
aware customers of anything. With the help of technological advancement, a company can easily
reach to customers and engage with them.

SWOT analysis: This analysis will help the company to know about the internal environment
of an organization.

Satisfied customers Lack of controlling

Strong brand image in UK and USA market Poor access to keep good
Growing market share communication with each departments

Strengths Weaknesses

Opportunities Threats
Technological advancement Increased market competitions
Business oriented world Changing political factors

Figure 4.2: SWOT analysis of EnVeritas Group

Source: (EnVeritas Group: An International Content Marketing Agency, 2020)

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 L02 Compare ways in which organizations use elements of the
marketing mix (7Ps) to achieve overall business objectives.

EnVeritas Group is a UK based content marketing agency company. They created content for
locals and also offer large-scale multilingual content solutions. They help any business or
company to grow with many customized and brand digitalized content. In this section, EnVeritas
Group will be compared and evaluated by some other companies through the company’s goals,
objectives, marketing mix, STP, budget, and controlling aspects (EnVeritas Group: An
International Content Marketing Agency, 2020).

Greenlight Digital is a content marketing agency company located in London. They give
services on content marketing, web design, social media, etc. They help a customer or a
company with a comprehensive SEO campaign so that their brand or company will be more
visible online (Greenlight Digital, 2020).

The Tree is a UK based content marketing agency company. Besides, content marketing they
offer social media marketing and web design services to customers. Their B2B services to
customers in information technology, hospitality, and leisure industries (Tree, 2020).

Marketing Goals and Objectives

Name of Companies Goals Objectives

EnVeritas Group To provide a customer or a company To deliver consistent content quality

to grow with customized and brand and creativity to the customers or
digitalized content. companies.

Greenlight Digital To be leading in content marketing To deliver excellent quality content,

and web designing platforms. designs, and consistent customer-
focused services.

The Tree To provide creative and digitalized To maximize growth and to maintain

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 content and also focusing on social sustainable growth year after year.
media marketing.

The objectives of EnVeritas Group and The Tree are almost the same, that is to become a market
leader and generates its growth rate. However, in the case of Greenlight Digital, the company is
focused on providing value to the customers. Thus, the marketing strategy of Greenlight digital is
providing consistency on customers valuation, whereas EnVeritas Group and The Tree are
focusing on maintaining the quality of contents and services and enhance their growth rate.

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Marketing Scanning for a Marketing Plan and Strategy
Planning is a process where we consider all the complex issues covering a company or
organization and the company needs to come out with a detailed process to overcome these
barriers. Marketing planning involves all the possible outcomes and issues from launching a
product, promoting that product, and attracting the target customers so on. A company needs a
fixed detailed strategic marketing planning for their businesses and products. There are many
marketing planning processes available and the company makes their own according to their
need. Generally, we can divide this process into 4 broad categories according to McDonald and
Wilson. These are:

Situation Analysis

Marketing Objectives

Marketing Strategy

Marketing Tactics
Figure 3.2: Marketing Planning Process

Source: (McDonald and Wilson, 2016)

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Develop an effective marketing strategy with a marketing mix(7Ps)

The marketing mix is a process where we can know how to put a product, where to put and when
to put it. Through this strategy, marketers predict the marketplace, customers, and the way they
behave about a new product (McDonald and Wilson, 2016). Once the company developed its
marketing strategy, there are ‘7Ps’ to ensure continuous evaluation and monitoring of its
business activities. As customer’s need and want changes rapidly, the company has to
continuously rearrange its 7Ps from time to time. The 7Ps are:

Product
Price

Place Promotion

Figure 3.1: Marketing Mix 7Ps

Source: (Self-made)

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Product: Product need to introduce according to customers need and preferences. Before
launching any product to the market, a strategy has to make about the product differentiation and
customer’s expectation.

Place: From where a target customer can avail their products are very important for marketing
strategy. Marketers need to know about the market place and environment to execute their
strategy effectively.

Price: Price is the main focusing point of customers toward a product or service. That’s why, a
company sets the prices in such a way that, customers can get the best product or service in their
limited resources.

Promotion: when a company brings a new product or service into the market, they need to
aware of the target customers about it. A strong and effective promotion can help to bring the
target group to avail of the product. So, every company has to make a good marketing
promotional strategy for their products.

People: All the marketing activities and planning of a company are reliant on the people. They
have to attract the customer’s attention to become successful while performing business. For
that, they need to research and analyse customer’s needs and preferences.

Processes: From the starting of marketing strategy till last, all are need to process smoothly for
better performance. The processes are done with the delivery of products to the customers. So,
from the launching a product into the market till delivery and have the payment for the product
all goes under a planned process.

Physical Evidence: Physical evidence defines the way your customers see or interact with your
product or business. It includes packaging, interior design, branding, etc. (Langford, 2019). A
customer can fully satisfy the physical appearance of the product.

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Comparison and evaluation of the company

EnVeritas Group is a UK based content agency company. It’s founded in 1999 in London and
later on, it expands its company to the USA, Singapore, and 70 more countries in the world. On
the other hand, Greenlight Digital and The Tree were founded in 2001 and 2014 respectively in
the UK. But, these two companies could not expand their businesses a lot and mainly surrounded
in UK and Europe. So, these two companies need to expand their businesses throughout the
world and EnVeritas Group also has to focus on capturing more market and countries in the
world.

EnVeritas Group mainly focuses on medium and large enterprise and provide customized and
multilingual content solutions. They expand their business around 70 countries or 135 cities in
the world. They capture different target groups from different markets and promote their
business and brand towards them. On the other hand, Greenlight and The Tree mainly are UK-
based content marketing and web designing companies. Besides providing content marketing,
they also provide web designing, social media marketing. That’s why their target groups are
different and changeable according to their services and markets. Besides, their promotional
strategy also changeable and different from EnVeritas Group as they provide many services and
products.

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L03 Develop and evaluate a basic marketing plan.

STP Analysis
Segmentation: It is the process of dividing a wider market into small and distinct groups of
customers who have different needs and behaviours (Kotler, Armstrong, and Opresnik, 2013).
The market must determine which segments offer which things and where the customer gets their
best opportunities. Segmentation of a market can be done in geographical, demographic, and
many other ways. Market segmentation ensures the best output from the marketing strategy and
with that, a company can work more efficiently than before. Enveritas group segments its
services according to geographical regions. They provided their services in 70+ countries and
each has unique segmentation for running the businesses and services.

Market Targeting: The process of evaluating these market segments and selects one or more
segments to enter into the markets (Kotler, Armstrong and Opresnik, 2013). After a company
divide the market into many segments, now they have to look and evaluate carefully to enter any
of these segments. A company now has to select the most attractive and product-oriented
segments to become financially benefited. Enveritas group target their customer from the middle
age group. Besides, they keep focus on small and medium enterprises and target them to enter
their market.

Positioning: Positioning is a process of arranging a product to occupy a distinctive and

desirable place relative product with a view to target customers (Kotler, Armstrong and
Opresnik, 2013). A company set its positioning while making a marketing plan. Positioning
helps a company to keep its products in the market according to its customer demand.

Budget
For executing the entire marketing plan, the foremost thing to has is a feasible budget plan. A
marketing plan should be made based on the budget plan. Before making the budget plan, the
company should analyse the whole internal environment to have better knowledge about the

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financial capabilities of a company to run any marketing plan or strategy. From it, marketers can
take the necessary overview of the company and helps them to carry out a good marketing plan.

Control
Control is a process that can influence or force people to do any certain works. To maintain the
entire marketing plan effective and productive, the company should adopt some control and
monitoring strategy to look after the plans. While monitoring, if any problem arises, it needs to
solve or manage immediately. Control make the internal environment suitable for works and
monitoring ensures the individual performance and dedication towards the company.

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Conclusion
Marketing is all about valuation the customers, understand customer’s needs and perceptions,
and build a good relationship with customers. To create this valuation and understand the
customers, marketing people have to take some marketing strategy and planning for a better
outcome (Woodall, 2007). The marketing mix is the first thing in the marketing strategy. From
this, one can know the market place, people and their preferences, aware and know about the
new products and promotional strategies. Then, a company divides a wider market into mane
segments and target those segments with their product. They are mostly customer-oriented and
build a good relation with them. A proper marketing plan can help the company to launch a new
product into the market and get benefits from it. Good and feasible planning is made based on
budget planning. While making budget planning, a company needs to know about its internal and
financial capabilities to run the planning properly. Lastly, it comes to control. After execute and
operate the planning, a company needs to control it properly. The company needs to monitor the
planned time to time and if any change or issue occurs, it needs to solve immediately. Thus, a
company can grow easily and can run a marketing plan properly.

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Reference
Goodman Lantern. 2020. Goodman Lantern. [online] Available at: <https://goodmanlantern.com/>
[Accessed 10 December 2020].

EnVeritas Group. 2020. Enveritas Group: An International Content Marketing Agency. [online]

Available at: <https://enveritasgroup.com/> [Accessed 28 November

Kotler, P., Armstrong, G., and Opresnik, M., 2013. Principles Of Marketing.

Perreault, W.D., 2018. Essentials of marketing. New York: Mc Graw Hill.

2020].

Schofield, T., 2020. Marketing Department: Structure & Roles. study.com.

Sherman, F., n.d. important-combine-functions-business. [Blog] chron.com, Available at:

<https://smallbusiness.chron.com/important-combine-functions-business-39866.html> [Accessed
28 November 2020].

Greenlightdigital.com. 2020. Greenlight Digital. [online] Available at:

<https://www.greenlightdigital.com/?
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December 2020].

Tree, T., 2020. Home. [online] This Is The Tree. Available at: <https://thisisthetree.com/?
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December 2020].

McDonald, M., and Wilson, H., 2016. Marketing Plans. 7th ed. Chichester: Wiley.

Langford, S., 2019. 7Ps of The Marketing Mix: The Acronym Sent to Streamline your Strategy.
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McDonald, M., and Wilson, H., 2016. Marketing Plans. 7th ed. Chichester: Wiley.

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Woodall, T., 2007. New marketing, improved marketing, apocryphal marketing. European
Journal of Marketing, [online] 41(11/12), pp.1284-1296. Available at:
<https://www.researchgate.net/>.

Product

Promotio
n
Place

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Place Product

Promotio
n
Price