P1, P2, P3, M1, M2, M3, D1, D2
Table of Contents
Introduction 2
Task 1: Marketing concept 2
Task 2: Benchmarking analysis 6
Conclusion 9
References 10
The purpose of this essay is to explain the role of marketing, the way it connects with other
business units within an organization and compare how companies apply different factors of the
marketing mix to attain their overall business targets, which is hereby elaborated through a
, vocational scenario where the Junior Marketing Analyst of Lotte Mart Vietnam preparing a report
to the Marketing Director.
Task 1: Marketing concept
According to Kotler and Armstrong (2018), marketing is defined as the procedure in which
businesses connect with the customers, strengthen and maintain profitable customer. Marketing
department is an essential component in building up the image of companies and promote their
core values in the mind of the customers, as well as takes many duties to support firms achieve
goals.
Put in the context of Lotte Mart Vietnam, the two most notable roles and responsibilities of its
marketing department are conducting marketing research and managing customer
relationships. Marketing research involves designing, collecting, analyzing and reporting
relevant information of a particular marketing case that the company has to confront in an
organized manner (Kotler and Armstrong 2018). The market research helps the company to
enhance decisions and choices being made, track current issues, retain existing customers and
have knowledge in the constantly changing market (Aaker and Mcloughlin 2010) in order to
keep up with the interests and needs from consumers. Customer relationship management is
the process of setting up and maintaining relationships with customers by providing great value
and satisfying customers with products and services, and it plays a special role since satisfied
customers not only go shopping again and again, but they also can become marketing partners
by promoting their own experience to other consumers (Kotler and Armstrong 2018). On that
account, businesses would receive an increase in profit and overall performance. As a well-
known supermarket chain operates in large scale and has been in Vietnam market for over a
decade, Lotte Mart aims to expand market share with long-term development orientation (Thu
Ngan 2017). Therefore, it is extremely important for the marketing department to continuously
improve its functions, especially in marketing research and maintaining customer relationships,
since the company provides different kinds of goods for the local citizens. As Vietnam is the
fastest in growing in the region (Vietnam - Market Overview, 2021), Lotte Mart should be
professional in identifying the key changes of the market and the customers, along with serving
the best experience and value for the customer and connecting well with them so that the
business can achieve success in the fast-moving economy.
Table of Contents
Introduction 2
Task 1: Marketing concept 2
Task 2: Benchmarking analysis 6
Conclusion 9
References 10
The purpose of this essay is to explain the role of marketing, the way it connects with other
business units within an organization and compare how companies apply different factors of the
marketing mix to attain their overall business targets, which is hereby elaborated through a
, vocational scenario where the Junior Marketing Analyst of Lotte Mart Vietnam preparing a report
to the Marketing Director.
Task 1: Marketing concept
According to Kotler and Armstrong (2018), marketing is defined as the procedure in which
businesses connect with the customers, strengthen and maintain profitable customer. Marketing
department is an essential component in building up the image of companies and promote their
core values in the mind of the customers, as well as takes many duties to support firms achieve
goals.
Put in the context of Lotte Mart Vietnam, the two most notable roles and responsibilities of its
marketing department are conducting marketing research and managing customer
relationships. Marketing research involves designing, collecting, analyzing and reporting
relevant information of a particular marketing case that the company has to confront in an
organized manner (Kotler and Armstrong 2018). The market research helps the company to
enhance decisions and choices being made, track current issues, retain existing customers and
have knowledge in the constantly changing market (Aaker and Mcloughlin 2010) in order to
keep up with the interests and needs from consumers. Customer relationship management is
the process of setting up and maintaining relationships with customers by providing great value
and satisfying customers with products and services, and it plays a special role since satisfied
customers not only go shopping again and again, but they also can become marketing partners
by promoting their own experience to other consumers (Kotler and Armstrong 2018). On that
account, businesses would receive an increase in profit and overall performance. As a well-
known supermarket chain operates in large scale and has been in Vietnam market for over a
decade, Lotte Mart aims to expand market share with long-term development orientation (Thu
Ngan 2017). Therefore, it is extremely important for the marketing department to continuously
improve its functions, especially in marketing research and maintaining customer relationships,
since the company provides different kinds of goods for the local citizens. As Vietnam is the
fastest in growing in the region (Vietnam - Market Overview, 2021), Lotte Mart should be
professional in identifying the key changes of the market and the customers, along with serving
the best experience and value for the customer and connecting well with them so that the
business can achieve success in the fast-moving economy.
