Marketing is the chain of activities to getting people interested in organisational products and services. Marketing happens with the help of market research, analysis and by understanding consumer's taste and preferences. This report is based on the Bulb energy Ltd. Is a privately financed energy supply company operated in UK market. This assignment based on the role and of marketing in achieving organisational goals. Further it elaborates relevance of marketing to other business functions to deliver results.
Section 1: Marketing role
Definition of marketing:
By Philip Kotler
Marketing is the chain of various activities or actions in order to build value for their consumers and strong relationships to attain from customers value in return. In context of Bulb energy Ltd. As they are the one of small energy start up which competing against Big six energy suppliers so to remain always competitive by focusing on renewable energy marketing plays very crucial role to aware people.
Explanation of concept of marketing process
Marketing process includes the ways or methods by which value should be created for the consumers to satisfy their requirements in order to achieve competitive advantage. It is a endless chain of actions or activities in between the consumers and efforts put by organisation to satisfy consumers present and emerging needs (Stern and Porr, 2017. ). In context of Bulb energy Ltd. They are new and not much experience of marketplace in order to reach at large no. of consumers they have to opt market research which is the core work or duty of marketing department. In that series they analyse or evaluate opportunities available in marketplace after that select potential market which proved beneficial. In respective organisation they have to compete against Big six energy supplies for that relevant marketing activities are very much important. In that series they operate in buying and selling electricity and gases to supply domestic properties (Rowley, 2016.). To evaluate the market opportunities marketing manager need to evaluate the marketing mix after examine products, price, place, promotions and other factors too. The concept of marketing process rely on acknowledge crucial aspects such as market in which they opt to operate, price in which organisation offered their product to consumers and promotional strategies many more. The last aspect of marketing is to organise each and every effort in structured format.
Respective framework provides the valuable insights while organisation faces operating challenges that are appears to face. In context of Bulb energy Ltd. As they are new in market so it is very much important for them to analyse the external environment in order to remain always competitive in marketplace.
In context of Bulb energy Ltd. They operate in market of UK that may impact on their profitability or chances of survival. In UK high level of taxation demotivate the companies such as respective organisation to maximise their profitability. The low minimum wage exist in market of UK which means higher level of profit which increase chances of survival for them. Dynamics occurs in the political factors directly influence on the marketing activities as they have to invest more money or time to find out solutions of respective threats and opportunities to reap ( Purvis, 2015. ). Such as high level of taxation is a concerning factor so it is responsibility of marketing department to find out solution for lessen down its effect.
Economic factor in context of Bulb energy Ltd. Rate of GDP growth directly influence or affect the rate of growth expected by them in near future. So in respect the role of marketing department is to predict and research regarding GDP rate in near future and related factors. As in market of UK high level of unemployment exist in market would mean that higher supply of jobs demand, which mean people ready to work in lower rate that increase profitability of organisation.
In social factors consist of changing taste and preferences of consumers, in today's world people more aware and conscious in regards to environment and power. So the organisation focus on bulb that saves electricity and environment (Puddle, 2015.). In that regards it affect on marketing activities to put one of best efforts in acknowledging self interest of potential candidates to remain always competitive.
Technological advancement is very much potential in today's business environment, in context of Bulb energy Ltd. They relatively focus on the emerging areas such as digitalisation distributed energy which is totally vary from traditional and capital intensive hardware (Pike, 2015). The major role of marketing activities is to evaluate technological advancement and then formulate data and statistics related to cost, time and resources to implement it.
In legal factors consist of the changes in laws and regulations to operate in business environment in smooth manner. In context of UK market health and safety laws are created in regards after witnessing horrible condition at work place. So major activities of marketing department is to conduct study on other industries and then framed regulations accordingly to protect self interest of employees.
In market of UK current weather conditions significantly impact or affect on capabilities of Bulb energy Ltd. In both managing transportation of resources and finished products, would affect date of delivery significantly. In context of marketing activities is to manage and coordinate activities proactively.
Section 2: Marketing structure
Structure and operations of marketing department
Within the marketing department, kinds of roles and responsibilities existed which supports or assist to promote products and services of an organisation. The organisational structure based majorly on the needs of an organisation in context of Bulb energy Ltd they follow the flat marketing department structure in which various hierarchical tier exists to share the knowledge and information to one another in a structured format (Perreault, 2018. ). In respective structure organisation develop their marketing concepts and figures to accomplish specified roles and responsibilities in order to accomplish organisational goals and objectives in proper manner. So it is very much obligatory for an organisation to follow a structured format to share the roles and responsibilities for achieving organisational goals in proper manner.
Marketing operations is wider in context which collectively describes about functions of marketing organisation such as people, processes and technology that helps to operate effectively in business environment (Malhotra, 2015). In context of Bulb energy Ltd. Major operational activities of marketing department is to content generation and management, demand creation and performance management. These all activities are very much potential for an organisation to coordinate and transform potential knowledge to others.
Importance of marketing functions to other departments
Marketing functions are very much important for organisation as well as other departments. Here are the some marketing functions and their importance in regards of other departments:
Marketing with Human resource:
Marketing department helps to HR department in selecting and retaining one of most talented personnel. Visions of research reports, organisational logo and product positioning reports are not only limited to products and services but proved useful to fulfil needs of promotion specifically to attract and retain top talent. In context of Bulb energy Ltd. They work in collaborative manner to work in self interest of one another.
Marketing with finance:
Marketing and finance are the most important two pillar which helps in gain growth and profits. In an organisation without using he advertising and publicity the profitability and sales will not improve and without sales no profits arise. In that respect it can be said that finance and marketing department rely on each other (Larson and Draper, 2015). For successful marketing there are needed a strong base of finance by which organisation can set goals for marketing such as sales targets, compensation and planning and seeing. Hence, in context of Bulb energy Ltd. They integrate or merge the self interest of organisation in order to achieve organisational goals and objectives.
Conclusion & Recommendations
From the above report it has been concluded that Marketing is one of the essential part of an organisation to reach at large no. of consumers after accessing their needs and wants of consumers. To acknowledge about consumers taste and preferences marketing department conduct proper research by using marketing concept. In an organisation both internal and external factors affect on their activities so it is needed to evaluate each and every factor properly. Marketing structure and operations plays crucial role in achieving organisational goals and also crucial in context of other departments. It has been recommended that organisation have to conduct marketing activities after find out major areas of improvement and relate it with organisational goals so that each and everyone can put one of their best efforts.
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