Nguyễn Minh Nghi- Assignment 1

ASSIGNMENT FRONT SHEET Qualification BTEC Level HND Diploma in Business Unit number and title Unit Marketing Essentials Submission date 9/10/2020 Re-submission Date Date Received 1st submission Date Received 2nd submission Student Name Nguyen Minh Nghi Student ID GBC19293 Class GBC0804 Assessor name Pham Le Hong Nhung Student declaration I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism I understand that making a false declaration is a form of malpractice Student’s signature Nguyen Minh Nghi Grading grid P1 P2 M1 M2 D1  Summative Feedback:  Resubmission Feedback: 3.1 Grade: 3.2 3.3 3.4 Assessor Signature: Date: Internal Verifier’s Comments: Signature & Date: Assignment Brief (RQF) Higher National Certificate/Diploma in Business Student Name/ID Number: Nguyen Minh Nghi/GBC19293 Unit Number and Title: Unit Marketing Essentials Academic Year: 2020 Unit Assessor: Pham Le Hong Nhung Assignment Title: Assignment – The role and responsibilites of Marketing Issue Date: 9/10/2020 Submission Date: 9/10/2020 Internal Verifier Name: Date: Submission Format: The submission is in the form of an individual written report This should be written in a course, formal business style using Arial, 1.5 lines spacing and font size 12 with Justify Text to enhance the legibility for markers You are required to make use of headings, paragraphs and subsections as appropriate, and all work must be supported with research and referenced using the Harvard referencing system Please also provide a bibliography using the Harvard referencing system Any suspicions regarding plagiarism will lead to failure in results of the assignment The recommended word limit is 2,500 words, although you will not be penalized for exceeding the total word limit Unit Learning Outcomes: LO1 Explain the role of marketing and how it interrelates with other functional units of an organisation Assignment Brief and Guidance: You are a new Marketing Executive of Company X (Choose either a B2B or a B2C company in Vietnam/ or UK to apply) The company has not had a Marketing Team since it was established as the Board of Director (BOD) did not think Marketing department is important for the business development in the B2B or B2C industry However, you need to build a strong Marketing team in orde r to achieve their business objective A meeting is held next week to finalise this decision, your task is to prepare an individual report, which clarifies the important role of the Marketing function and its relationships with other functions of the company, in order to persuade the BOD to establish a Marketing department Essentially, the report will contain the following matters: (1) Definitions and the marketing concept; (2) The role of marketing; and (3) The interrelationships of functional units Structure of the Report: General introduction of the company and the report An explanation of Marketing to clarify the functions of Marketing with BOD Specifically, you need to explain the definition of Marketing and the Marketing functions, as well as Marketing management orientations Also, you should clarify how the Marketing environment (Micro and Macro Environment) influences the roles and responsibilities of Marketing in your company An explanation of the role of marketing and how this department helps the company to overcome issues and achieve the business objectives Also, explaining the different roles of marketing within both a B2C and B2B context Demonstrate the interrelationships of Marketing with other functional units Determine how Marketing department supports other departments and what are the potential conflicts between Marketing department and other departments of the organisation Also, critically analyse and evaluate the importance of the marketing function and sort them base on the level of importance in your company’s context Good examples, statistics or data should be provided to justify the analysis A conclusion to summarize all the key findings and analysis must be presented Learning Outcomes and Assessment Criteria: Learning Outcome Pass Merit Distinction LO1 Explain the role of P1 Explain the key M1 marketing and how it roles roles interrelates with other and responsibilities responsibilities functional units of an of the marketing organisation function marketing Analyse and evaluate context in of key of the the marketing function and the how they interrelate with other functional environment units of an organisation M2 and responsibilities of significance marketing relate to the interrelationships context of elements the marketing P2 Explain how roles wider the D1 Critically analyse and Analyse the of organisational between marketing and other functional units of an organisation Contents Introduction The Functions of Marketing/ Marketing concept 2.1 Definition of Marketing 2.2 Marketing Management Orientations 2.3 Influences of Marketing Environment on the Marketing Roles and Responsibilities 11 The Role of Marketing 16 The Interrelationships of Marketing with other Functional Units 17 Summary 19 References 20 Assignment The role and responsibilities of Marketing Introduction As many of us know that the coffee trees have been growing in Vietnam for a long time, but Vietnam's coffee brands still have no high prestige in the international arena When the Trung Nguyen Legend was founded and developed progressively as the largest domestic coffee bran d in Vietnam since 1996, Trung Nguyen Coffee can say is the pride of our country for a reputed brand in the international market with a variety of coffee products However, there is always a competitive business among the coffee industry markets between Trung Nguyen and other companies Therefore, we need to improve our marketing strategies so that we can get closer to consumers as well as get higher profits for the company Establishing a marketing team aimed at promoting and distributing the company's products widely then influencing, and gaining interest from consumers I believe that building a marketing team is the key factor for the development of Trung Nguyen company that the Board of Directors (BOD) should consider This proposal will include three main sections There are Definitions and the marketing concept, the role of marketing and the interrelationships of functional units respectively Figure 1: The corporate brand logos and exclusive product Source: Anon., n.d, Trung Nguyen Legend The Functions of Marketing/ Marketing concept 2.1 Definition of Marketing Marketing has many definitions and there are the three most common definitions of marketing: • The process of preparing and implementing concepts, products, and services to build trade and fulfill individual and organizational goals by designing, pricing, promotion, and distribution (AMA 1985 cited in Brassington & Pettitt 2005: 2) • The management process is responsible for profitably defining, predicting, and meeting customer requirements (CIM 2001 cited in Brassington & Pettitt 2005:2) • The mechanism by which businesses produce customer value and create strong customer relationships in order to capture customer value in return (Kotler & Armstrong 2014: 26) ➢ Throughout the three perspectives on marketing, there is a common in the definition of marketing, which is making products that respond to consumer needs However, as the definition of marketing has changed over time, marketing activities tend to increasingly actively benefiting customers and the company ➢ In summary, marketing is the management process of an enterprise to detect customers' needs and respond to them effectively Moreover, it is also a process of creating profits for the company or an individual by advertising and distributing goods, building good customer relationships with the company 2.2 Marketing Management Orientations In terms of management, many factors lead to the success of our marketing plan Among them, there are five marketing management orientations, which have been designed and implemented by organizations It is also a testament to the evolution of marketing over time • Production concept is the oldest among the concepts in marketing It absorbs that customers will favor items that are widely distributed and low in price Supervisors centralizing on this concept centered on accomplishing high manufacture productively, inexpensive, and mass distribution They contend that consumers are basically concern ed with item availability and low costs This orientation makes sense in developing nations where consumers are more interested in obtaining a product than its highlights (Kotler & Armstrong 2014:31) • Product concept holds that buyers will prefer those products that offer the foremost quality, efficiency, or innovative features Directors centering on this concept concentrate on making prevalent items and improving them over time They expect that buyers respect well-made items and can evaluate quality and execution In any case, these managers are sometimes caught up in a adore issue with their items and not realize what the market needs Management might commit the “better-mousetrap” sophism, trusting that a better mousetrap will lead people to beat a path to its door (Kotler & Armstrong 2014:32) • Selling concept shows that consumers and businesses if left alone, will commonly not purchase sufficient of the selling company’s products Hence, the organization must assume aggressive selling and advancement exertion Moreover, it expects that the company features an entirety battery of compelling offerings and special instruments to invigorate more buying Most companies hone the concept of selling when they have overcapacity Their point is to offer what they make instead of making what the market wants (Kotler & Armstrong 2014:32) • Marketing concept is one of three business concepts responsible for being better than competitors in creating, delivering, and communicating to target consumers It is based on four factors: Target Market, Customer Needs, Integrated Marketing, and Profit through customer satisfaction (Kotler & Armstrong 2014:32-33) • Societal concept typically holds that the organization's mission is to identify the needs, wants, and social benefits of goal markets and thoughtfully provide requested satisfaction s more helpfully and productively than their formidable competitors In addition, it also underlines the importance of the happiness of the customer and society as a whole (consumer welfare or social welfare) Besides, the social marketing concept calls on marketers to construct socially and morals considerations into their marketing practices They should balance and organize often contradictory standards about company profits, consumer expectations, and the benefits of the public (Kotler & Armstrong 2014:33) Figure 2: The considerations underlying the societal marketing concept Source: relivingmbadays, 2012, The Societal Marketing Concept 10 ➢ The five marketing concepts are a prime example of how marketing has changed over the years It has shifted the focus from product to the consumer 2.3 Influences of Marketing Environment on the Marketing Roles and Responsibilities There are two main types of Marketin g Environment, which has a close association: • Microenvironment The micro-environment includes factors that closely exist with an enterprise and affect its ability to serve customers It consists of six elements: Figure 3: The company’s micro-environment Source Getmeric, 2015, The Marketing Environment: company’s microenvironment - The Company has a direct impact on marketing activities, especially issues involved in marketing administration The CEOs, senior managers of the business are influential people in marketing because most of the marketing strategy plans must through them before going into execution, followed by the managers of intermediaries, facilities, and staff (Kotler & Armstrong 2014:93) - Suppliers represent a vital link in supplying the value of products /services to customers They provide the business with the materials necessary for the business to produce products/ services Therefore, problems related to suppliers such as an increase in 11 material price, material delivery delays, lack of materials can affect the quality of business marketing (Kotler & Armstrong 2014:93) - Marketing intermediaries are individuals and organizations that play a functional role in supporting businesses in the operations of marketing, selling, and distributing products/services to consumers Marketing intermediaries are divided into four categories (Kotler & Armstrong 2014:94) Reseller: Wholesalers, retailers Physical distribution firms: Stock, transportation Marketing services agencies: Research firms, advertising agencies Financial intermediaries: Banks, credit companies, insurance companies - Customers are the core element of the microenvironment Every marketing activity is customer-centric through customer delight or satisfaction There are five types of customer markets such as Consumer Market, Business markets, Reseller markets, Government markets, International markets (Kotler & Armstrong 2014:94) For example, Trung Nguyen coffee, the company has a very nice strategy to gain customer satisfaction through advertising products that meet the criteria that consumers need, training staff, having all kinds of prices Suitable for everyone from low-income earners to the elderly - Competitors are factors that have a negative impact on marketing activities as well as business operations of enterprises Competitors are constantly looking for ways to retain customers, so businesses must consistently improve their products and services to maintain customer satisfaction and satisfaction to retain and increase the number of loyal customers (Kotler & Armstrong 2014:94-95) - Publics are groups of individuals that influence the business operations of an enterprise (Kotler & Armstrong 2014:95), especially the corporate image It is including seven groups: 12 Financial publics: Affect the financial ability of the business, including banks, stock investors, so on Media publics: Affecting corporate image, including authors, readers of newspapers, magazines, TV reports, articles, images, video clips on the Internet Government publics: Affect corporate operating principles, including labor ministry, industry, an d trade, finance, education, health, so on Local publics: Helping businesses in providing information, including individuals, local households, and businesses General publics: Affecting the corporate image, including any individuals or organizations that know about the business or its products and services Internal publics: Affecting business productivity, including business leaders, managers, and staff, workers ➢ Through these seven groups, it makes a reasonable assumption that Trung Nguyen Coffee should use the media publics, like social media, newspapers, so on For example, to implement the strategy of "giving free books to students." Since then, many Vietnamese people, especially young people, will admire what Trung Nguyen has done for them, which encourages them to buy the company's products This helps Trung Nguyen increase sales volume efficiently ➢ Microenvironment helps the company can better understand Trung Nguyen's vision, mission, and core values, which is to assert the product and bring the Vietnamese brand into the subconscious of Vietnamese in particular and the native origin in general • Macroenvironment The macro-environment includes factors outside the organization or enterprise that affect the business environment and marketing activities of the enterprise It includes six elements: 13 Figure 4: The company’s macro-environment Source: Getmeric, 2015, The Marketing Environment: Company’s macroenvironment - Demographic Environment are factors including population, population density, place of residence, age, sex, race, occupation, education, marital status, belief, so on These are factors that determine customers and consumer behavior and affect the content of the marketing activities of businesses, especially market segmentation activities For example, areas with a large number of elderly people will have a high demand for health care services - health protection, while areas with a large number of children will receive a h igh demand for educational services, clothes-toy, so on Or in areas where people's income and living standards are improved, the purchasing power of people increases very rapidly, which creates favorable opportunities for producers (Kotler & Armstrong 2014:96) - Economic Environment Economic factors directly affect business operations: interest rates, exchange rates, corporate income tax, subsidies, inflation, son on For example, when lending rates decrease, enterprises can access loans and expand production and business, or when the government increases corporate income tax, forcing businesses to increase product prices, tightening spending, so on (Kotler & Armstrong 2014:103) Economic factors indirectly affect the business operations of enterprises: personal income, personal income tax, which affect the company's customers and indirectly affect the business 14 operations of the business For example, when a consumer's monthly income falls due to an economic crisis, they will tend to look for relatively low-priced and relatively inexpensive products and services to save money Therefore, the number of customers and purchases of premium products and services will decrease (Kotler & Armstrong 2014:104) Therefore, Trung Nguyen company should realize there are always different classes in society so that its products can reach all consumers, we should classify products into three categories: upper-class product (legendary simulated kopi luwak coffee), middle-class products (Roasted and ground coffee, Espresso, Blend), and popular-class products (G7 instant coffee, Pure Black, Cappuccino, Passionate, White Coffee) This helps them extend segments and gain more advantages in the marketplace - Technological Environment is associated with the introduction of equipment and machines to produce new products or to improve productivity as well as reduce material costs in marketing (Kotler & Armstrong 2014:106) - Natural Environment includes raw materials such as ore, forest, land, water, air It affects: Source of raw materials for production of the enterprise: When production is increasing or wh en natural disasters such as floods, droughts occur, the source of raw materials for production of enterprises will gradually decrease and lead to the shortage (Kotler & Armstrong 2014:104-105) Production methods of the business: When production is increasing, it will lead to environmental pollution Therefore, it is required that businesses constantly renew production methods and technologies to reduce the amount of waste to protect the natural environment (Kotler & Armstrong 2014:105) - Political/Legal Environment includes laws, institutions enacted by the national government, and the rules of ethics built by society It has many impacts on enterprises' business operations Laws and institutions will define the way of establishing a business, the paperwork in the operation process, the interests, and taboos in production and 15 business Meanwhile, businesses must also satisfy ethics in production and business: not manufacture, counterfeit goods, poor quality goods/services, adversely affect people's lives (Kotler & Armstrong 2014:107) - Cultural Environment includes cognitive and behavioral values that are formed and preserved over time The same product/service, but when in different cultural environments, the marketing activities of the business will be different (Kotler & Armstrong 2014:110) Trung Nguyen Company has an advantage of location when headquarter is located in Buon Ma Thuoc, the home of coffee Therefore, Trung Nguyen can easily create a cultural similarity to coffee raw material suppliers as well as easily create a Vietnamese feature in its products This can be seen as a strong point of Trung Nguyen when building sales relationships and its brand The Role of Marketing Marketing's role is extremely important and necessary, it contributes to increase revenue and promote business activities very effectively There are some of the main roles: - Determine needs and wants - Design customer driven marketing strategy - Construct a marketing program that delivers superior value - Build relationships and delight the customer - Capture value from customer to achieve profits These roles and duties will help marketing overcome the problems in the business-toconsumer (B2C) Moreover, it can be perceived that marketing activities have the rol e of understanding the effects of buyers' characteristics on their receipt and response to the marketing program Besides, marketing also has a role to play in understanding consumer behavior among individual customers (Kotler & Armstrong 2014, page 159) Compared to its competitors, Trung Nguyen Legend has many strengths Trung Nguyen is a prominent reputable brand in the marketplace, Trung Nguyen's products are diversified in quality, designs, and types suitable for many different customers Furthermore, the company has a wide distribution network with more than 1000 franchises spread across the country Besides, it also has a team of 16 professionally trained staff with a high sense of responsibility, which creates strength for the whole company In summary, if we actively market the company's products further, it will not be long before the company grows more positive and aggressive, so that is why we should set u p a marketing team for the company Especially in technological development, social networks h ave a great impact on individual customers Marketing has the role of taking advantage of the strengths of social networks to promote products and build relationships with customers that for Trung Nguyen is coffee and member cards for loyal consumers The company also develops in the direction of franchised stores, the fact that businesses to-business service (B2B) likewise deserves attention It includes e-commerce, many transactions that take place in real life, from consulting, quotes to contracting, buying, and selling products B2B model is more and more developed when businesses choose to use a commercial website as the main method of communication In recent years, the percentage of websites targeted at organizations and businesses has increased compared to websites aimed at consumers Different from individual customers, businesses always have a unique buying process th at saves time and money This frequently explains why when buying, busi nesses often focus on the logic factor while consumers are often dominated by emotional factors B2B is favored by many businesses because transactions and cooperation between enterprises often bring diversified and effective benefits faster, businesses also quickly assert their foothold in the market through the mode of cooperation and working together (Kotler & Armstrong 2014) The Interrelationships of Marketing with other Functional Units Marketing reflects a primary function of the business, as the fu nction of production - finance - purchasing – research & development (R&D) These functions are all integral parts of the organization In terms of the organization of a business, the key function of marketing is to create customers for the business, just like producing products There is no denying that the financial focus on statistics while marketing wants to speed u p the marketing process However, they need to be complementary Finance for marketing in 17 Trung Nguyen company should be deployed to dominate the domestic market, double the coverage of points of sale, professionalize the quality of customer service to expand, which helps Trung Nguyen's brand products to be present everywhere Besides, the R&D department should also be paid attention, the company has a coffee product that has been loved by consumers over the years, the company should strongly implement this factor so that Trung Nguyen becomes the only Vietnam brand was chosen as a gift to people in important events Concerning purchasing, although there are some non -similarities with marketing in that the buyer wants to buy at a low price and the seller is concerned about quality rather than prices, it is fair to say that marketing and purchasing are currently working more closely than ever in building long-term relationships and flexible partnerships with suppliers Since then, considering the relationship between the constituent elements in the operational system of the corporate governance function, marketing is also a function tasked with connecting, to ensure organic unity with functions When defining a marketing strategy, marketing managers must set out their marketing tasks, objectives, and strategies to other functions Although the primary goal of every company is to make profits, the primary task of the marketing system is to ensure the production and supply of attractive, extremely competitive products compared to the target markets However, the success of a strategy depends on the performance of other functions in the company It is a two-sided relationship that shows both th e unity and independence between the functions of a market-oriented company There is a relationship between them, but completely irreplaceable This is the factor that supports the company's success For Trung Nguyen company, the marketing function can be considered as very important In the past, the company successfully developed under the franchise strategy because at that time the business model was still quite new and the company still did not have many competitors Furthermore, there are many articles, public relations, advertisements written about Trung Nguyen company in a positive direction, which makes Trung Nguyen emerge as a phenomenon and garnered much public attention Take one of the articles about Trung Ngu yen as an example to show the comfort and spread of Trung Nguyen coffee at that time (Anon., 2014 First online coffee hypermarket launched in Viet Nam) However, at present, the company 18 has too many competitors, especially High Land Coffee, Trung Nguyen is gradually being forgotten because the company does not have a strong product marketing management team, only Trung Nguyen G7 coffee is still known by the majority of people Unfortunately, the company's profit fell 50% according to an article by Zing new and VN Express, the main reason for the decline of Trung Nguyen's profit was the decrease in the efficiency of its core business in recent years Besides, the outbreak of the Covid-19 epidemic around the world that led to the closure of the border by neighboring countries, which also had a great impact on the compan y's business Therefore, the company should reconsider the importance of the marketing function and agree to establish a professional marketing team with modern trends in 4.0 digital technology Summary In conclusion, Marketing plays an extremely significant role in a company Concurrently, it has a responsibility to maintain and develop the company in an exact direction Marketing is th e key factor and reflects the professional image of the company's departments, the quality of the company's products Marketing can be considered an indispensable part of each company, it is not the main factor to create a company, but it is the core and decisive factor to the long-term influence of the company for consumers and businesses Therefore, we hope that the Board of Directors can consider for the marketing department to go into official operation, join hands to contribute to building the company to become diversified, network expansion, and successful coverage more widely in the country and around the world in the future References Anon.,2014 'First online coffee hypermarket launched in Viet Nam' in Vietnam Breakingnews, viewed October 2020, from https://www.vietnambreakingnews.com/2014/05/first-online-coffeehypermarket-launched-in-viet-nam/ Anon., n.d, 'Trung Nguyen Legend' in Trung Nguyen House, viewed October 2020 from https://trungnguyenlegend.com/?lang=en Kotler, P & Armstrong, G., 2014, Principles of Marketing, Pearson Education, United States 19 Getmeric., 2015, 'The Marketing Environment: Company's macroevironment' in Wordpress, viewed October 2020, from https://getmerit.wordpress.com/2015/10/18/the-marketingenvironment-companys-macro-environment/ Getmeric.,2015, 'The Marketing Environment: company's microevironment' in Wordpress, viewed October 2020, from https://getmerit.wordpress.com/2015/10/17/the-marketingenvironment-companys-microenvironment/ Brassington, F & Pettitt, S., 2005, Essentials of Marketing, Pearson Education, England Relivingmbadays., 2012, 'The Societal Marketing Concept' in Wordpress, viewed October 2020, from https://relivingmbadays.wordpress.com/2012/09/23/the-societal-marketing-concept/ Minh Son., 2019, 'Vietnam coffee giant Trung Nguyen sees profits halved' in VNexpress, viewed October 2020, from https://e.vnexpress.net/news/business/companies/vietnam-coffee-gianttrung-nguyen-sees-profits-halved-3936458.html Quang Thang.,2019, 'Trung Nguyen coffee decreased 50% of profit' in Zingnews, viewed October 2020, from https://zingnews.vn/ca-phe-trung-nguyen-sut-giam-50-loi-nhuanpost955603.html 20 Powered by TCPDF (www.tcpdf.org) Index of comments 3.1 Strengths: - This paper answers all requirements of the assignment The paper shows that this student achieves the learning outcomes - The student understands the marketing concept and could define the marketing concept by her words in section 2.1 - The student explained and analyzed the key roles and responsibilities of the marketing function in the context of the marketing environment in section 2.2 and section 2.3 - Student explained and analyzed the significant interrelationships between marketing function and the other functional units of the chosen company in section and section - She gave good analysis and evaluation of the contributions of the key marketing roles to the company Weaknesses: There are some mistakes about the in-text citation of the web information which didn't follow the Harvard referencing style Improvement: Address weaknesses as stated above Grade: Distinction Powered by TCPDF (www.tcpdf.org) 3.2 10/10/2020 3.3 Pham Le Hong Nhung 3.4 Distinction ...P1 P2 M1 M2 D1  Summative Feedback:  Resubmission Feedback: 3 .1 Grade: 3.2 3.3 3.4 Assessor Signature: Date: Internal Verifier’s Comments: Signature & Date: Assignment Brief... Student Name/ID Number: Nguyen Minh Nghi/GBC19293 Unit Number and Title: Unit Marketing Essentials Academic Year: 2020 Unit Assessor: Pham Le Hong Nhung Assignment Title: Assignment – The role and... The Role of Marketing 16 The Interrelationships of Marketing with other Functional Units 17 Summary 19 References 20 Assignment The role and responsibilities