Marketing Research and Strategies

This assignment delves into the realm of marketing research and its crucial role in shaping successful marketing strategies. It examines various research methodologies, including structural equation modeling (SEM) and viral marketing analysis. The text explores the impact of social media, gamification, and sensory marketing on consumer behavior. Additionally, it emphasizes the importance of data mining and customer relationship management in modern marketing practices.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Roles and Responsibilities of marketing Function................................................................3
P2 Relation of Roles and responsibilities in wider context ........................................................6
M1 Analysing roles and responsibilities of marketing...............................................................8
M2 Significance of interrelationship between marketing and other functions ..........................8
D1 Critically analyse key elements of Marketing functions.......................................................9
TASK 2............................................................................................................................................9
P3 Comparison of marketing mix of two organisations..............................................................9
M3 Evaluation of different tactics applied by companies to achieve the objectives of business
...................................................................................................................................................12
TASK 3..........................................................................................................................................12
P4 Marketing Plan of H&M......................................................................................................12
M4 Evidence based marketing plan .........................................................................................15
D2 Strategic marketing plan that tactically applies 7p's...........................................................15
CONCLUSION..............................................................................................................................15

REFERENCES..............................................................................................................................17

INTRODUCTION
Marketing is an important factor in an organisation . It is very important for the
companies to achieve success. All the other functions of the company is dependent on marketing
department only in some or the other way. There are various functions that are performed by the
marketing department like advertising, promotions, sales etc. it is also a process through which
the products is introduced in the market. It is also a medium through which the company tries to
maintain their customers for a longer time. It also helps in spreading awareness in the market so
that more and more people gets to know about the new product. To perform the major marketing
functions, a good marketing professionals are appointed by the companies. There are various
channels that are used by the marketing teams so as to reach the target customers and making a
good sales. The company that is referred here is Hennes and Mauritiz (H&M). It is a largest
fashion retailer in Europe at present. They are leading in clothing and cosmetics sector. Apart
from this , the report will discuss about the roles and responsibilities of marketing functions ,
relation of marketing with other department. Also, marketing mix of two companies and a basic
marketing plan is also created.
TASK 1
By-XYZ
Date- 25th November 2017
Roles and Responsibilities of marketing Function along with its interrelationship with
other departments
P1 Roles and Responsibilities of marketing Function
Marketing can be defined as one of the main functions in an organisation . It helps the
company in generating valuer from the customers so that more and more customers are attracted
towards it. It helps the managers in connecting with their potential customers in the market by
using various types of marketing tools . It provides them all the knowledge that is necessary for
making good marketing strategies for the company. So, the company is making various policies
that are helping them in achieving high competitive advantage in the market. Basically, the
marketing department is the main source through which the company aims to increase the sales
and profitability.
H&M is also using effective strategies of marketing in the company and also various
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new policies are also being designed by the management so as to attract m,ore and more
customers to their stores. Since they are into clothing brand so they are planning continuously
to bring more and more clothes with latest designs in the market. The importance of marketing
in H&M in as follows -
 it plays an important role in developing a high competitive advantage in the market by
providing good quality products and services to its customers.
 Marketing department provides all the necessary details to the company which is
required by the manufactures and the producers so that they can make the good and
services as per the needs and demands of the customer.
 Marketing department conducts market research in the company because H&M will
require information regarding the choices and preferences of the customers in the market
so that they producer goods and services as per the market demands only.
 It helps the company in facing all the risky situations in the company.
The structure of marketing department is different in various companies. If the company
is small then the structure is small but if the company will be a large organisation then the
structure will be big and will contain so many departments in them . Marketing structure in a
company is always very much useful as it helps in determining that which employee is on what
position and in which department. Through this , distributing the responsibilities is also very
simple for the company. The organisation structure looks like this -
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Illustration 1: Marketing Department
(Source:-Marketing department structure,2017)
The benefits of using a marketing structure are:-
 It helps in determining the role p staff properly.
 Monitoring and evaluation is done easily through this.
 The person knows clearly whom they have to report to.
 It is considered as a cost and revenue centre and therefore the people are appointed as
per their roles only.
Roles and responsibilities that are applied by marketing department of H&M are:-
 Collecting market information – It is the main role of the marketing team i.e. to collect
all the necessary information in the market. Various researches are being conducted by
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the managers the company so as to analyse and evaluate the goals and objectives of the
company.
 Market planning – It is the responsibility of marketing department to make proper plans
for the company so that the company finds it easy to achieve their goals and objectives.
Through planning, the issues that can arrive in future is also ascertained. Marketing
managers of the company makes these plans .
 Customer Services – it is one of the main function that is performed by the marketing
department of the company and here the marketing team tries to solve all the problems
that are coming to the customers after using the product. It is very important to solve
these issues because then only the customers will be able to trust the company. All the
issues must be solved on time and also on 1st complaint itself.
 Advertisements and Promotions – Marketing managers of the company makes sure that
the products of the company is well marketed . In H&M, if any new collection has come
up or any new deal is designed by the company then it must be marketed well so that the
customers are able to take good advantage of it.
 Relationship Management- It is the responsibility of the marketing department only to
maintain a good relationship in the company and with the outside customers as well.
They try to make the relations better in between the employees of the company and then
only the employees will be able to work with each other happily and the goals of the
company is ascertained.
 Communication – If the company will have effective communication then it will be able
to maintain good communication with its customers. It is very much required in an
organisation as it helps in knowing the actual need and demands of the customers.
P2 Relation of Roles and responsibilities in wider context
Marketing is a very important and vital concept of all organisation. With the help of these each
and every organisation can introduce their products as well as attract large number of the
customers. It covers different activities and plans from capturing the large number of market
share . This concept is not easy for company owners in order to remain success and growth of
enterprise for long duration. Therefore, in regards to deal with different situation, management
develop better scheme in which each and every department work with each other. In marketing
relation, there is needed to evaluate the value, quality, price and quality of a product. In this
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manger of marketing department that work with entire functional enterprise in regards to
acquire high market growth and competitive benefits for long duration. There are certain
department in interrelationship with marketing that play essential role and responsibilities in
business growth as well as development. These all department are determine under this:
Financial department: They are responsible and liable for increasing and developing large
number of capital. Under this different aspects are includes such as capital budgeting, portfolio
management, dividend policies and short & long term sources of finance. With marketing,
manager cannot achieve all these aspects so in this they takes better judgements about investing
in services and products. For impressive culmination of selling activities and policies there is
nodded large amount of fund. In order to developing and creating annual budget of the
company, in this situation manger determine a few amounts for the activities of marketing such
as: advertising, promotions, sales promotions, and public relation so that business entity
perform their entire functions and operations in an easy manner.
Human resources department: They are also play important and significant role in achieving
long term goals and objectives. Main responsibility and role of this department is to recruit and
select knowledgeable and skilled persons which can easily increase business profitability and
productivity in a systematic manner. As per the marketing context, if all workers are well
trained as well as qualified then they communicate with its potentials and target customers in an
effective or easy manner . It will support H&M in order to identifying buyers needs and wants
so that organisation can easily attain its long term objectives and targets.
Operational and production department: Main role of this department is to directing,
motivating, planning, organising and staffing all activities and policies which are considered in
the process of manufacturing. Operational administration of H&M is also responsible for
enhancing the services and product qualities. Output of these is to profitability and productivity
of the company. Main aim of the marketing department is to increase product sales and achieve
long term objectives. If customers will acquire innovative goods then business entity can attain
its set targets and goals. Thence, the mutuality between sales and marketing division is few of
innovative commodity as well as enhancing available offering of the business organisation that
is lay on market research.
Research & development department: They are play important and vital role in order to
identifying the needs and requirement of buyers as well as market trends. It is mainly liked with
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innovative product and increase the additional feature in product quality. Such kind of
department also investigate the market position of company, buyers perception, choice, taste
and challenges strength etc. Therefore, if department of marketing that have certain details to
easily enhance its policies and strategies in an effective or efficient manner . It will support in
completing the buyers demands and needs in a systematic and effective way.
Information technology: They are responsible and liable in order to reducing the different
problems regarding technical error which is faced by organisation in business operations. In this
situation information technological manager can keep past records as well as data. Whole things
are important and beneficial for marketing division in its judgements making procedures.
Managers of the H&M have information and historical data regarding buyers and mangers
background. So in this they improve marketing strategies of business entity in order to increase
profitability of company. Along with this, such kind of department supports in improving
clients connection with the use of various approaches.
Customer service department: They are also very responsible and liable for reducing barriers
and queries of clients which can fall out after buying a commodity. If H&M is capable in order
to sort out whole question of clients so in this they can achieve their common interest in an
essential manner. It will also support in order to sustaining target customers for long time. It is a
valuable and beneficial aspects for marketing division in regards to win clients heart as well as
building reputation of market in a systematic manner.
Above all departments play important and vital role but without marketing they cannot
achieve higher higher profitability and growth of the company . So all are essential in order to
attract large number of the audience ant capture the higher marker share.
M1 Analysing roles and responsibilities of marketing
There are various types of roles and responsibilities that are performed by the marketing
department in a company. It helps the company in making appropriate strategies that are useful
for the companies in performing their functions effectively. They do market research which
helps in collecting all the necessary information. So, basically all the roles and responsibilities
in very effective for the marketing environment.
M2 Significance of interrelationship between marketing and other functions
It is very important for the company to include marketing activities in all of its other
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departments because through this the work of the company gets easier as marketing department
helps each and every department of the company in some or the other way and improves the
efficiency of the company.
D1 Critically analyse key elements of Marketing functions
According to , the elements that are included in marketing functions helps them in
conducting the business more effectively so that the goals of the company is achieved faster.
Through this they will be able to gain more and more customers from the market byb making a
good image of the company in the market.
TASK 2
P3 Comparison of marketing mix of two organisations
Marketing mix is an important tool that is that helps the company in developing the right
marketing strategy (Berthon and et. al., 2012). It can be implemented through different plan of
action. Here, the product which is formed by the company is assessed completely i.e. through its
pricing , place of selling, promotions etc.
H&M also uses marketing mix strategies so as to make their product available at right
place and at right time. Earlier marketing mix comprises if only 4 P 's but now since service
marketing mix is also evaluated in the market so now 7 P' s of marketing will be discussed. So,
marketing mix of H&M and ZARA is done below:-
Basic H&M ZARA
Product This company has brought six
special brands in the market. All
these products are having different
pricing strategies and they are
fulfilling needs of different
marketing segments also. Its every
brand is special and every time they
are providing something unique to
the customers in the market. Its other
It manufacturers the products like
clothes, shoes, cosmetics, accessories
for children , man and women . On an
annual basis, Zara produces around
11000 different products.
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brands are like; & other Stories
Cheap Monday, COS, Monki,
Weekday.
Price H&M is following a process range in
which is broader so that it suits with
every sphere of buyer and seller. The
company is also maintaining a
median pricing strategy in which its
products are sold on discount.
Because of this scheme , the sales
and volume is increasing
continuously and getting more and
more revenue.
Zara was having a concept that they
wanted to sell their products at less cost
earnings so that every person is able to
afford it. They are having different
prices for its different products
Place The cited company is expanding in
the marketing since the time they
have emerged in this market. In
2016, they have opened 427 stores in
the company. The outlets of H&M is
found very conveniently by the
customers of the company as they
are able to shop for different
products in the same store. The
company has expanded its operations
very fast in the market and are
making the products available at
reasonable prices. This company has
also taken the benefit of slower
growth of the economy. They are
also having a wide market for online
sales.
It is available in almost 30 countries
and several other separator stores are
also available in the countries. The
cited company was having 600 stores
overall but now they are having their
stores all over the world.
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Promotion The cited company knows the
importance of promotion and selling
and therefore they give special
attention to all of its marketing
activities. By promotions and
advertising , they are using
electronic media of television by
sponsoring many shows of MTV
channel. They have also teamed up
with various exclusive designers so
that along with their brand , it is also
marketed.
They are promoting their products in
various companies are also using
various promotional tools also to do
advertisement. They deal with the
customers in a great manner as are
loyal to them. Hey are using internet as
their main tool to do advertising
because they believe that it is the best
way to reach the customers.
Process The process through which H&M
makes its product reach its customers
is very simple. The product passes
through various levels in which it is
analysed properly and then finally it
reaches its customers.
The process followed by Zara to make
their products available to its c
customers is very simple because they
have not included any unnecessary cost
because of which cost of production
increases.
People The people who are working in
H&M are morally involved in the
company. They are very much
motivated for performing their work
and the communication process of
the company is also very good.
The people who are working in H&M
is very efficient as they are managing
the stores very well and they make sure
that the customers are satisfied when
they leave the company.
Physical
Evidence
The stores are having different
exterior designs and the shops are
also very effective. They are also
providing the facility of having
different shops at the same store
along with good music and nice
Their stores are available at all over the
world and they are designed very well.
It is having a very classy interior and
the customers are taken care very
nicely.
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furniture and décor.
M3 Evaluation of different tactics applied by companies to achieve the objectives of business
There are various tactics that are applied by the companies in order to reach its objectives
(Day, 2011). These tactics should be implemented very easily in the market and in this good
communication is also required so that the staff and employees are able to communicate with
each other effectively . Here strategic planning, budgeting and ongoing monitoring of specific
performance is also measured.
TASK 3
P4 Marketing Plan of H&M
The marketing plan for H&M is as follows:-
 Executive summary – The purpose of this plan is to launch a new product line in H&M.
The new product that is being developed is Long Jacket for women in winters. Here the
marketing department needs to monitor the strategies for marketing that is adopted by
H&M.
 Marketing planning objectives – Their objective is to make their business overall
sustainable and they are planning to address the necessities of both present and future.
 Company overview – H&M is a Swedish multinational clothing company that is known
for its fast fashion targets for men , women and children. It is existing in 61 nations with
more than 3700 stores and are employing around 132000 individuals.
 Internal Analysis – In this the company will perform swot analysis through which they
will get to know their strengths and weaknesses (De Vries, Gensler and Leeflang, 2012).
Strengths
 They are having global brand
awareness.
 It is a leading global retailer having
stores in more than 55 countries.
 They are providing affordable prices.
 They are active in social media.
Weakness
 They are having poor customer service.
 Company is not having any control
over its production cycle.
 Their e-commerce availability is also
not strong.
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Opportunities
 They can expand in the e-commerce
market.
 They can open more localised
distribution centres.
Threats
 They are having strong competition
from Zara.
 Their production cost is increasing in
Asia.
 Segmentation, Targeting and Positioning- STP is process through which an
organisation become able to link the overall market to compete in the market. This
process is usually used by an association to make the things corrective in nature which
facilitate an option to make the operations properly and effectively (Grönroos and
Ravald, 2011).
◦ Segmentation: Every business divide their number of customers on the basis of
various segments through which each and every operation get done in an effective
manner. These segments enables business to grow and developed so that wide range
of users get selected and all offerings get deliver to users properly. For selecting the
appropriate target market, business have to spilt the market into different sections so
that more and more users get satisfied in an appropriate manner. H&M have to
analyse the market which business wants to target so that maximum outcome could
be gain.
Managers identify the various market groups whom are different in their nature and
needs. This enables them in creating existing offers for every market group but they have to
select suitable one so that appropriate offerings get deliver to target users. Various market
segmentation for H&M are described as follow:
 Demographic
 Psychological
 Geographic Behavioural
◦ Targeting: Business have to select a market on which business will going to
incorporate their services in an appropriate and effective manner. This suggest that
business have to target such market group which support them in more profitable
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manner so that each and every objective and aim of a company get ascertain in an
effective manner (Grönroos, 20111).
Currently business is targeting the psychological market under which services are deliver
on the basis of lifestyle, beliefs and values. This enables business to ascertain such market
groups whom required luxury services so that their profit get maximise in an appropriate and
effective manner.
◦ Positioning: Business have to position out their products and services effectively so
that company can create a brand value in front of their users. This stated as the
perception of each and every users about products and services as compared with
their competitors (Gummesson, 2011). Following are the types of positioning for
H&M are described as follow:
 Over positioning
 Under positioning
Company have to determine the the products positioning properly so that they are going to
improve the pattern of working and become able to ascertain their targets properly as well.
Organisation offerings are appropriate in nature and thus many users think that their deliverables
are best and require little bit changes.
 The Marketing Mix - 4P's of H&M
These are the various marketing tools utilised by the company to influence its present
standing in the market of United Kingdom. The 4P of H&M is as follows:
Product: the company fulfils need of consumer in clothing segment. The company
introduces products from designer to affordable collection.
Price: the clothing segment charges premium prices to consumers. The average prices
charged for its products are approximately 25$.
Place: Place defines to be market where operations are being carried out. The company
mainly operated in the market through its around 4135 stores in the country.
Promotion: This retailer employs advertisement, social media marketing and vouchers to
promote its products throughout country (Hair and et. al., 2012). Budget -
Particular
(Marketing
1st year 2nd year 3rd year
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Expenditure)
Advertisement 8000 5000 6000
sales promotion 4000 5000 4000
Direct marketing 5000 15000 16000
Total 17000 20000 26000
 Monitoring and Controlling - The major responsibilities of handling all business
operations are with marketing manger and they are making plans in order to execute all
business operations in effective and planned ways. It is useful in order to gain high
profitability ratios for their overall business operations (Hinz and et. al., 2011).
M4 Evidence based marketing plan
The marketing plan of H&M is very effective and they have made good objectives for
them. The aim to produce goods and services at affordable prices so that all the customers are
able to purchase it. The budget allocated to each store is also well managed as it can be seen that
the cu8stomers are liking the product that is being produced.
D2 Strategic marketing plan that tactically applies 7p's
While preparing the marketing plan for H&M, 7P' s of marketing is included. It helps he
company to choose that which product is to be sold at what price and at which place. This is a
very effective step by the company as it will help them in deciding which process they should
follow to produce goods and services.
CONCLUSION
As per the above mentioned report, it can be determined that concept of marketing s very
essential and vital part of the organisation. With the use of this aspect business organisation can
introduce their innovative products and creative services to customers. They play important and
vital duty in the success and development of company. It will support the management to aware
regarding the market trends and customers requirement. Business entity use various kind of
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marketing function in their operation such as new product development, packaging, market
research and other essential aspects. Different department such as human resource, finance,
research and development are responsible to fulfil buyers needs and requirement with the help of
marketing tools such as promotion, advertisement, public relation and other. Marketing mix also
play important role in identifying the process, people, product, and physical evidence of
business. Marketing plan also help enterprise in order to introducing business objectives,
mission, vision, SWOT analysis and annual budget of the company.
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Online
Marketing Plan.2017.[Online].Available
through:<https://www.entrepreneur.com/article/43018>.
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