Marketing strategic role

• Marketing - definition

  A set of interrelated activities to plan, price, promote and distribute products to both current and potential customers
• Marketing- purpose

  • Responsible for planning, pricing, informing and physically delivering
  • Satisfies needs and wants of consumers that also benefit the business
• Strategic role of marketing

  To develop a combination of strategies that can be used to maximise sales, increase brand awareness and improve customer satisfaction so that the business can translate the goal of profit maximisation into reality
• Developing customer awareness and demand

  1. Organised marketing campaign

  2. Development of a marketing plan
• Marketing plan

  A road map and contains the signposts showing which direction to take
• Marketing

  • Involves a wide range of activities
  • Wide range of goods and services
  • Transaction should benefit the customer and the business
  • Not limited to business only, it is interdependent with other key functions
• Aims of marketing:

  Generate sales by satisfying the needs and wants of customers to achieve profit maximisation (the ultimate goal which means a business can better cover costs, increase returns to investors and grow the business)