role of marketing

Question 1

‘Strategic role of marketing goods and services’ case study

Answer 1

Market research –> large portion of Mcdonalds’ customers were parents with young children –> launched the Happy Meal in 1979, a popular children’s meal package with a free toy –> children being more attracted and overall increased their sales.

Question 2

‘Interdependence with other key business functions - Operations’ - case study

Answer 2

Changes in marketing activities –> increase the demand for a good - e.g. when Apple discontinued the iPhone 5 and instead introduce the iPhone 5c and 5s, the factory at Foxconn would have had to begin planning for the changes required such as changes in production, ordering new components etc.

Question 3

‘Interdependence with other key business functions - HR’ - case study

Answer 3

In the development of the new iPhone 5c and 5s, Foxconn employees would need to be trained accordingly and must know the requirements of each model. The employees at Apple’s retail stores also need to be updated in the specifications and promotional offers on the phone.

Question 4

‘Interdependence with other key business functions - Finance’ - case study

Answer 4

During the launch of the new iPhone 5c and 5s, Apple would have needed a budget quotation, which is provided by the finance department, which takes into account all expenses and determines a suitable cost for the business to generate a reasonable profit.

Question 5

Selling approaches - case study

Answer 5

Originally, McDonalds adopted a sales approach where the focus of marketing was to advertise products to maximise sales. As consumerism increased, McDonalds altered its approach and focused more on the consumers’ needs and wants. This proved to be beneficial as this meant that they created goods which were specific to its target market, thus increasing their sales and profits.

Question 6

Marketing approaches - case study

Answer 6

In the highly competitive market of electronics, customers’ expectations have emerged from design features of competitor products. This reinforces Apple’s decision to adopt a marketing approach in order to maintain a competitive position. For example, wireless charging by Samsung has been more convenient for customers which have increased their expectations. As a result, in 2017, Apple acted on customers’ expectations of convenient and hassle-free charging, thus introducing this option in their iPhones.

Question 7

‘Strategic role of marketing goods and services’ description

Answer 7

The strategic role of marketing is the ability of a business to develop goods/services to create a long-term relationship with consumers. This helps generate revenue and translates the goal of profit maximisation into reality. This can be done by implementing a marketing plan.

Question 8

‘Interdependence with other key business functions - Operations’ - description

Answer 8

Product advertising can increase product awareness and lead to an increase in demand which will stimulate an increase in the operations function of the business as more customers want the product. Conversely, an increase in stock of a product means more marketing is required to sell off the product to gain profits.

Question 9

‘Interdependence with other key business functions - HR’ - description

Answer 9

HR and marketing work together to ensure there is efficient staff (e.g skills and experience). HR are responsible for recruiting staff with suitable qualifications and providing training to ensure they work towards achieving the goals of the business. Marketing requires qualified staff which is the HR’s responsibility.

Question 10

‘Interdependence with other key business functions - Finance’ - description

Answer 10

Any decision in marketing e.g. developing a new product will require the finance department to allocate appropriate finances eg. for research, making prototypes etc. Conversely, the finances available and calculated by the finance department determines the amount spent on promotion and marketing.

Question 11

Selling approaches - description

Answer 11

In the 1920-1960s, competition increased and the focus of business was selling. Managers thought they could combat increasing competition with good sales teams, which tried to persuade customers by advertising that they had a better product than the competitor. The point of difference between similar businesses was by promotion and advertising.