Importance of Marketing Fundamentals in the Organisation

This document discusses the importance of marketing fundamentals in an organization, using Tesco as an example. It explores the stages of marketing, including product development, introduction, growth, and maturity. The document also includes a SWOT analysis of Tesco and its unique marketing strategy. Additionally, it highlights the role of digital marketing in modern business processes.

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Table of Contents
INTRODUCTION...........................................................................................................................3
IMPORTANCE OF MARKETING FUDAMENTALS IN THE ORGANISATION....................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing fundamentals in taking up a business is defined as strategies that are adopted
and are the initial ways for any organisation in order to take up the task of marketing. The entire
report deals with the marketing fundamentals and the factors involved (Girchenko, T. and
Ovsiannikova, Y., 2016). The company that is adopted in this regard as example is Tesco. Tesco
is one of the largest retailer chains in the United Kingdom. It is known for its product quality and
the brand it maintains by providing all the groceries that a required for the domestic use.
MODERN BUSINESS STARTEGY
Marketing plays a major role from concept decision till the manufacturing and distribution. The
companies that are less strategic are said to be having a limited marketing role in their
organisation (Kozlovskyi, S.,). Business strategy is not just related to bringing the product only
when it is ready into the market but the innovations and demands that are related with marketing
or to be initialised as a first step. The different stages of marketing are as follows:
Product development: The marketing department in any organisation works along with the
research and development department in the initial stages that will contribute to process
determine and collect the data regarding what kind of products that the customers demand. This
will help in brain the greatest results and the fullest development. Even before the onset of
manufacturing cycle in any organisation the marketing people in the organisation that are related
to the stipulated marketing roles played a vital role in creation of new product (Sadchenko, О).
This stood as a determining factor in fulfilling the consumer needs and how the new market need
will be fulfilled. This with regards to Tesco is such that the Tesco company employees identify
the customer need for a particular product and focuses upon developing the product and based on
that product development marketing is put forth. Every department in the organisation is allotted
with a manager who is in charge of dealing with the customers. Based on the statistical data
about which product is more likely to be sold, the company focuses upon manufacturing the
product in the numerous count.
Introduction and roll out: soon after the product is developed, it will go through a life cycle
where the product will be introduced to its consumers. Whether the market is small or big the
initial sales will probably be low. this phase of introduction of the particular product is essential
to demonstrate the growth of the product which will in return increase the sales of the company.
The pricing strategy will vary from the initial stages to the final stage where the product will

make profits. The early marketing with regards to the new product will help to build awareness
among the public and will also draw public relations in carrying the business.
Growth stage: the second stage in the marketing process where the product life cycle is
determined and the marketing campaign character changes significantly. in this particular stage
there is likely to have a heavy competition where the promotional strategies will have to be
maximized. strategies like conducting marketing service in order to know the customer demand
and the features that are to be improved in the product quality will be known.
Maturity stage: once the product has developed with all the regards the next stage will be the
maturity stage where the sales with regards to the particular project will reach a level of maturity.
In this stage instead of focusing more on the new customer demand the organisational
management will focus more upon the existing customers and try to maintain pace with them.
This is the stage where a brand awareness is already maintained and the advertising budgets have
seen a reduction. This particular stage switches from brand differentiations and competitive ads
by focusing more on price sensitive buyers.
SWOT ANALYSIS
Strengths:
TESCO is reliable in offering services and its strength include the reliable suppliers who help the
company to overcome supply chain atrocities (Camilleri, M.A., 2018). The company is known
for its successful track record of mergers and acquisitions that are integrating as a
complementary form. High level of customer satisfaction is attained with the delivery. The
customer satisfaction determines the brand which it is operating.
Weaknesses:
The inventory days of the company are said to be high when compared to the competitors. This
will in turn capital of investment which will affect the growth process (Dictionary, B., 2016).
There is no particular care that is taken by the company in order to minimise the new entrants
threat as of now. There is a chance of leading to higher rate of missed opportunities because the
product demand forecasting is not very good.
Opportunities:
The new taxation policy that is introduced by the government will significantly be a boon to the
company where there can be a chance of new opportunities to establish.

Every new trend in changing consumer behaviour can bring about a great difference and a good
change in building opportunities. The government has agreed upon opening new markets where
this can be an opportunity for the company to enter into new emerging market.
Threats:
Increasing competition can lead to evolving of new strategies and new competitors into the
market. The changing consumer behaviour will demand high profitable products. The new
technologies that are adopted by other companies will differentiate company in terms of usage.
The shortage of skilled workforce will be a bane to the company.
CONCLUSION
The marketing strategy of the company is unlike others stands unique. The smart
objectives depict the growth of company in various forms and how the company manage its
graph by the segmentation, position and targeting with regards to other companies. The swot
analysis of the company is so perfect and convey the strengths and weaknesses opportunities and
threat the company is dealing with.

REFERENCES
Books and journals
Girchenko, T. and Ovsiannikova, Y., 2016. Digital Marketing and its Role in the Modern
Business Processes. European Cooperation. 11(18). pp.24-33.
Sadchenko, О., and et.al., 2020. Modern Marketing to Scale the Business. International Journal
of Advanced Research in Engineering and Technology (IJARET). 11(4).
Kozlovskyi, S., and et.al., 2018. The marketing strategy for making optimal managerial decisions
by means of smart analytics. Innovative Marketing. 14(4). pp.1-18.
Camilleri, M.A., 2018. Market segmentation, targeting and positioning. In Travel marketing,
tourism economics and the airline product (pp. 69-83). Springer, Cham.
Dictionary, B., 2016. Using SWOT Analysis to Develop a Marketing Strategy.
Saidani, B. and et.al., 2019. Marketing Mix-7Ps: The Effect on Customer Satisfaction. Jurnal
Pendidikan Ekonomi Dan Bisnis (JPEB). 7(1). pp.72-86.
Online
The Role of Strategic Marketing in an Organisation. 2019. [ONLINE] available through: <
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