THE REPORT PRESENTS THE IMPORTANT ROLE OF MARKETING FUNCTION

Name: Ngo Hai Trang. Department: Marketing.

Building/Room: Marketing Strategy.

I. CATEGORY.
1. WHAT DO WE HAVE TO KNOW ABOUT MARKETING?
A. MARKETING DEFINITION.
B. CORE MARKETING CONCEPTS.
a. Needs, wants and demands.
b. Market offerings.
c. Value, satisfaction, and quality.
d. Exchanges, transactions, and relationship.
e. Market and the marketing system.
2. THE KEY ROLES AND RESPONSIBILITIES OF THE MARKETING FUNCTION IN
ORGANIZATIONAL CONTEXT AND IN THE CONTEXT OF CURRENT MARKETING
ENVIRONMENT.
A. THE ORGANIZATIONAL CONTEXT.
a. Responsibility for company growth.
b. Promoting growth in the organization of business.
B. THE CONTEXT OF CURRENT MARKETING ENVIRONMENT.
a. Market strategy.
b. Information system for marketing.
c. Marketing environment monitoring.
d. Research on marketing.
e. Segmentation of the market.
f. Brand equity.
3. THE INTERRELATIONSHIP BETWEEN MARKETING FUNCTION AND OTHER
FUNCTIONAL UNITS OF A BUSINESS.
A. RELATIONSHIP BETWEEN MARKETING FUNCTION AND OTHER FUNCTIONAL
UNITS IN THE ORGANIZATIONAL CONTEXT.
B. RELATIONSHIP BETWEEN MARKETING FUNCTION AND OTHER FACTORS IN THE
CONTEXT OF CURRENT MARKETING ENVIRONMENT.
a. Customers.
b. Intermediarles.
 c. Competition.
d. Marketing environment.

II. INTRODUCTION.

Our company has recently fallen into recession and faced many obstacles. Hence, the
Board of Director have been trying to cut down the costs as much as you can. Your intention is
to reduce marketing function resources and costs. Therefore, as the head of Marketing
Department, I prepared a report that clarifies the important role of the marketing function and
its relationships whith other company functions. I hope that you follow the report carefully and
make the right decision to avoid the consequences later.
Marketing department plays an important role throughout the development process
and promotes the company's revenue. I persent about core marketing concepts so you can see
more clearly about the function of identifying, providing products with high profitability and
how to promote and sell products. At that time, you can easily understand the important role
and main responsibilities of marketing functions in different contexts. If we lack the marketing
function, it will be difficult for us to survive in the marketplace and cutting costs will not get us
out of the recession. Moreover, marketing is closely related to all departments and other
functional units within the company and outside the marketing environment. In the
organizational context, cutting down on marketing resources leads to a disruption of the
company's management and operations network, the turmoil that will bring the company to
the end. In the context of current marketing environment, it leads to withdrawing from the
marketplace and giving way to other competitors. Our company loses its marketing function,
which means we are sure to lose the game of this recession.
For that reason, I represent the marketing department to present a clear and
understandable way about the important role of marketing function and its relationship with
other functions in the following order:
- First, marketing definition and core marketing concepts.
- Second, the important role and main responsibility of marketing function in two
contexts: The organizational context and The context of current marketing environment.
- Finally, the interrelationship between marketing function and other fuunctional
units of a business.

III. MAIN CONTENT.

1. WHAT DO WE HAVE TO KNOW ABOUT MARKETING?
A. MARKETING DEFINITION.
- Marketing is a specialized term that is understood in many different ways. In a
simple way, marketing is a management process of planning and executing the
conception to create an exchange and satisfy the needs of individuals or
organizations in a beneficial way. This process includes identifying the customer and
product needs; market prediction and price; choose distribution channels and
product promotion strategies; satisfy and create value for customers; build good
customer relationships and profit from customers through a long-term marketing
strategy.
- Example:
+ The marketing department creates a plan and strategy to implement it, set
prices, promotions, find distribution channels, deliver products to customers in
order to meet the necessary needs to create an exchange. (American Marketing
Association, 1985)
+ Marketing is a process that predicts, identifies essential factors and helps
customers satisfy their needs in a way that is mutually beneficial. (UK’s Chartered
Institute of Marketing, 2001)
+ Marketing is an indispensable process to give value to customers through
products and build close customer relationships to recover value from customers.
(Kotler & Amstrong, 2013)
- In my opinion, although marketing has many ways to understand, its important
role never changes in the business. It is the way we aim our arrow and adjust the
flight path to point straight at the target. Marketing is a positioning function for all
businesses to earn profits.
B. CORE MARKETING CONCEPTS.
a. Needs, wants and demands.
- Understanding the needs, wants and demands of customers is an essential step
in the marketing process.
- “Needs” are basic human requirements - it is indispensable things. That includes
personal and social needs both physically and mentally such as food, drinks, shelter,
... moreover education, health, insurance, pension,... “Needs” are a fundamental
part of human life, it is not created by advertising or marketers.
- “Wants” are the desire to get something. It is influenced by the personality of
the person, the local culture and the living environment of that person. When the
need is satisfied and the people are conditioned, the want becomes the essential
thing they desire.
- The "demands" stemmed from that desire, it became even more intense when
customer emotions were brought to the top. The best companies know how to
understand customer needs, evoke desire and lead demands to direct customers'
attention to their company's products.
 - A typical example, when people need to eat, a meal will make them full. The
space and food in the meal are determined by the amount and time they have.
When qualified, people definitely choose what they want, a meal with beefsteak and
wine certainly attracts more than a loaf of 15,000 VND. Assuming they have enough
money, but lack of time, fast food is their wish. They decided to eat a hamburger for
45,000 VND at Macdonald. When they arrived at the store, they saw an
advertisement for a meal that included a Big Mac, medium-sized potato chips and
medium-sized drink that was priced at 65,000 VND with enthusiastic service from
staff. At that time, they thought that this price was perfectly reasonable for their
condition, the staff and space were also great - it was totally worth it. It is a great
success for marketers in the process of understanding the needs, wants and
demands of customers. Customers choose their company's products in a completely
satisfying and comfortable way.
b. Market offerings.
- “Market offerings” include physical products, non-material products (activities
or benefits are essentially invisible and do not lead to ownership of anything),
services, information or experience provided by the manufacturer to the market
with the aim of meeting the needs, wants and demands of customers.
- A practical example, the demand for currency exchange in life as well as in
more and more work. Customers want better services to cater to their needs. They
demand fast, safe and convenient in the process of currency trading for yourself.
Catching up with that, the market offering has launched banking services and is
more convenient than internet banking and e-banking services of banks. Customers
are facilitated to make transactions anytime and anywhere conveniently and
securely with OTP code. That's how manufacturers create great experiences for their
customers.
c. Value, satisfaction, and quality.
d. Exchanges, transactions, and relationship.
e. Market and the marketing system.
1
2. THE KEY ROLES AND RESPONSIBILITIES OF THE MARKETING FUNCTION IN
ORGANIZATIONAL CONTEXT AND IN THE CONTEXT OF CURRENT MARKETING
ENVIRONMENT.
A. THE ORGANIZATIONAL CONTEXT.
a. Responsibility for company growth.
b. Promoting growth in the organization of business.
B. THE CONTEXT OF CURRENT MARKETING ENVIRONMENT.
a. Market strategy.
 b. Information system for marketing.
c. Marketing environment monitoring.
d. Research on marketing.
e. Segmentation of the market.
f. Brand equity.
3. THE INTERRELATIONSHIP BETWEEN MARKETING FUNCTION AND OTHER
FUNCTIONAL UNITS OF A BUSINESS.
A. RELATIONSHIP BETWEEN MARKETING FUNCTION AND OTHER FUNCTIONAL
UNITS IN THE ORGANIZATIONAL CONTEXT.
B. RELATIONSHIP BETWEEN MARKETING FUNCTION AND OTHER FACTORS IN THE
CONTEXT OF CURRENT MARKETING ENVIRONMENT.
a. Customers.
b. Intermediarles.
c. Competition.
d. Marketing environment.