BSBMKG603 Manage the marketing process Assignment

BSBMKG603
MANAGE THE
MARKETING PROCESS
Assessment 1

Introduction:
<Write little bit about your project and company/organisation/business you are
choosing for your project. >
Marketing process can be simply defined as the procedure of examining
various opportunities within market, selecting target marketplace and developing
marketing mix for the management of whole procedure. The current report is based
on Marks and Spencer organisation which is deal in home products, luxury items and
clothings and it is situated in united kingdom (Kotler, 2011). The main purpose of this
project is to identify and execute the marketing performance of an organisation and
also analysing marketing strategy of current business.
PART A: IMPLEMENT AND MANAGE THE MARKETING PROCESS
(Refer page no: 11 to 48)
Identify and implement or manage the marketing performance of the
organisation:
 The areas of greatest potential for the business
Marks and Spencer always focus on their each and every areas where
they identifying higher profitability and income. This is required for company is to find
out their most potential areas which help them in target large number of customers.
There are some areas which need to concentrate by M&S organisation such as:
Advertising – They need to manage whole advertisement department where
all product promotional activities will be conducted for the gaining attention of
customers. Marks and Spencer are using social media, newspaper, radio, television,
mails and templates for promoting their products.
Market research – M&S company using effective marketing such as primary
and secondary method through which they can easily collect and gather all customer
required demand and needs. Also as per the company budget, primary research is
best appropriate for the company because this research method help in analysing
current demand of customers (Murray, Gao and Kotabe, 2011).
 How all marketing efforts are integrated and working
harmoniously
Integrated marketing define the holistic approach of communication
marketing which is mainly consistent with both online and offline. It means
that message is clear and make sure that expending are optimised towards
different approaches which is very effective for marks and Spencer.
There are various marketing promotional methods which can be used by
M&S company such as TV advertisement, social and newspapers. These
marketing efforts are doing very harmoniously working for attracting large
number of customers towards firm products and services. This will help
customers for easily seeking more information about organisation products.
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Marks and Spencer company also using search engine optimisation for
advertising their brand.
 Marketing strategy reflecting the current market requirements and
traits
Marks and Spencer need to conduct effective marketing strategy which
reflect on their current market requirements and traits. The regular
performance analysis is the current market requirement of the firm which
directly reflect on marketing strategy i.e. enhancing sales (Christopher and
Peck, 2012). With the help of this, they can easily analyse whole market
situations for determining current demand of their customers.
 Monitoring the progress against performance targets (activity,
quality, cost, time requirements, etc)
o Monitor product
 Distribution – Marks and Spencer means spreading the
products in the whole market place so large number of people
can purchase it. They are distribute new products for target
their existing as well as new customers.
 Quality – The quality of each product of an organisation help
in meet with desired customers and satisfying their needs or
wants in proper manner. It is necessary for Marks and Spencer
company is make appropriate strategy for gaining attention of
large number of customers towards company products or
services (Porcu, Barrio-García and Kitchen, 2012).
 Pricing/cost – It is that expense which incurred for selling
certain commodity by an organisation. Marks and Spencer fix
that cost of product which are best suitable for their customers
and also they can easily buy various goods and services at
reasonable cost.
o Monitor market changes
The current market changes in the Marks and Spencer such as
modification in new technology and trends emerges. The company
need to adopt latest techniques and methods which help in increasing
their income and profitability in better. With the changes in the current
emerging trends, the firm can alter their current lifestyle which help
them in attracting large number of buyers.
o Monitor marketing progress
While monitoring whole marketing progressing, it is necessary for
Marks and Spencer is to analyse two data such as descriptive and
inferential. In this, descriptive data analysis help in gathering and
collecting appropriate information in better manner. This will using
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visual representation such as graphs, charts, tables, etc. on the other
hand, inferential data analysis which can be used for make judgements
regarding some issues and problems which are associated with
marketing progress.
o Ensure quality and activity requirements are met
With the usage of marketing metric, Marks and Spencer can easily
ensure quality and activity requirement are met. They need to maintain
their products quality in better manner so they can easily attract their
customers towards new services or goods (Crowther, 2011). Firm also
regulate and operate all business activities for smoothly run.
o Ensure cost and time requirements are met
For making successful business, it is necessary for Marks and Spencer
is to make sure that their cost should be reasonable for all desired
customers who are buying new products and also they require to
deliver their goods on time.
 All staff involved in marketing are aware of their roles and
responsibilities
In Marks and Spencer, all the staff members are aware about their roles
and responsibilities which assigned to them. It will assist them in carry out
with various accurate skills and abilities and also developing effective
accountability for making success. There are various roles of company staff
members where they need to perform all business operations and its
functions. Also they are responsible for achieving required goals and
targets.
 Provide mentoring, coaching and feedback as required
Marks and Spencer manage team which help in providing mentoring,
coaching and feedback to personnel. It will help an individual and team
members for achieving desired goals or targets and also using resources
for standard requirements. Feedback and coaching involves individual
mentoring, group training sessions, on the job coaching and performance
reviews (Avraham and Ketter, 2012).
 Manage your marketing team
The company can easily manage their marketing teams by providing them
effective coaching, mentoring and giving appropriate feedback for achieving
desired goals and targets in proper manner. Marks and Spencer manage
their marketing because this will help in exploring their desired customers
who are willing to buy products and services.
Develop and use a marketing metric that reflects your marketing mix
Marketing Goals/ KPIs Actual Status Reason
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Metric performance (over
performed
/
underperf
ormed/ach
ieved)
Consumptio
n
The goal of this
matrix is to
provide effective
products and
services to the
customers.
The
consumption is
used for
measure
accurate value
of consumed
products by
people. They
are delivering
demanding
goods to them.
Achieved Providing new
and innovative
products.
Sharing The main goal is
to share
relevant data
regarding M&S
company with
the usage of
tweets (twitter),
likes (face
book), google
shares,
LinkedIn
shares, etc.
The company
are share
important data
with using
limited
methods of
media.
Under
performan
ce
Less time to
share data
Lead
Generation
Marks and
Spencer main
goal is to
reaching with
potential
customers who
are willing to
gain such type
of products.
Lead
generation
which help in
measuring
number of
customers of
marketing
media can
really research
the products
or services.
Achieved Using
appropriate
marketing
media
Sales The main goal of
the company is
to increasing
their sales
volume.
They try to
reach with
desired
customers and
also satisfying
their needs
and wants in
effective
manner.
Under
performan
ce
Adopting new
techniques and
methods for
gaining
attention of
large number of
customers.
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Developing a communication strategy to ensure all personnel responsible
to each element of the marketing mix work together to meet your
organisations objectives
Communication strategy
Marketing Mix Responsib
le person
(e.g John
Smith)
Communicatio
n vehicle
(e.g Meeting)
Communicatio
n mode
(e.g online/
formal meeting)
Frequency
(e.g weekly
or monthly)
Distribution George
Lewis
Online Interpersonal Weekly
Level of
service Elisa
Haydn
Meetings Interpersonal Weekly
Pricing
Veronica
Smith
Television or
radio
Interpersonal Monthly
Promotion Sam
Fernando
Advertisements Presentational Monthly
Product or
service
o design John Lewis Conferences Presentational Monthly
o quality Alica Television Interpersonal Weekly
o range Brayden Television or
radio
Presentational Weekly
o safety
features
Antonio Meetings Interpersonal Monthly
o technical
features
Veronica
Smith
Online Interpretive
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PART B: EVALUATING THE EFFECTIVENESS OF THE MARKETING
PERFORMANCE
(Refer page no: 49 to 59)
 Analyses of the marketing outcomes
Marks and Spencer conduct marketing campaign for promoting their products and
services, after that they analyse its results how many customers show their interest
regarding goods. They also focus on effective marketing strategic objectives and
confirm that it is fulfilled or not (Baker, 2016).
 Review of strategic objectives
Marks and Spencer review their strategic objectives and goals which help them in
identifying major key areas which they are targeted and also try to achieve its long
term vision and mission. The vision statement of marks and Spencer is to offer good
quality based products for customers.
 Review of marketing metrics
There are four types of marketing metrics which need to be reviewed and they are
measurable aspects of marketing plan which required to evaluate. This involves
consumption, sharing, lead generation and sales. Sharing and sales are most
appropriate metrics method for strategic objectives which can be used by Marks and
Spencer company.
 Analyses of success and performance gaps (in relation to cause and
effect)
Marks and Spencer analyse the success and performance gaps and it can be used
for highlighting any areas fr better improvements. This involves additional training,
getting extra resources, performance monitoring, describing strategic marketing,
mentoring, additional skills and knowledge assessment. It will assist in identifying
extra skills and abilities which can required for gained in order to meet employees
targets and goals. Success and performance gap also assist in recognise some
additional resources which are necessary for reached KPIs (Piercy, 2012).
 Analyses of over-performance against targets for trends
Over performance define as when the performance of team individual exceeds what
was anticipated such as specific target. Marks and Spencer try to find out the major
cause and set the new target which are more practical or real in nature. When over
performance is better than under performance so its outcome is lack of motivation
which is achieved by staff members in easy manner. The trends are occurs when
analysing of over performance will assist in find out particular areas in which group
or individual are over performing. Along with this, it will help in find out anomalies
and impact on external trends on performance where they are able for judge over or
under performance which will continue active and need to take further actions.
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 Analyses of the changes in market phenomena
Market phenomena has various forms and that will shift in the form of new
technology and trends emerge. Marks and Spencer analyse the whole market that
will mainly deal with customers regarding effective products and services. They need
to modify their current strategic objectives for change in the market phenomena so
they can easily achieving goals and targets.
 Develop a written report (consider the above analysis’s) that documents
the review and suggests potential strategic improvements
Marks and Spencer need that their documents should review and suggest potential
strategic improvement which are required for an organisation. It is very simple and
easy to access for future usage. This will also deal with documentation formats such
as manual or electronic (Vegholm, 2011). This is necessary for company is to ensure
that written note is more clear and deliver message to another person. Document
should be concise, objective, exception, appropriate in language and add only
necessary information.
Conclusion:
From the above mentioned report, it can be analysed that Marks and Spencer
always focus on their each and every areas where they identifying higher profitability
and income. The regular performance analysis is the current market requirement of
the firm which directly reflect on marketing strategy i.e. enhancing sales. There are
various roles of company staff members where they need to perform all business
operations and its functions.
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References
Kotler, P., 2011. Reinventing marketing to manage the environmental imperative.
Journal of Marketing. 75(4). pp. 132-135.
Murray, J.Y., Gao, G.Y. and Kotabe, M., 2011. Market orientation and performance
of export ventures: the process through marketing capabilities and
competitive advantages. Journal of the Academy of Marketing Science.
39(2). pp. 252-269.
Christopher, M. and Peck, H., 2012. Marketing logistics. Routledge.
Porcu, L., Barrio-García, S.D. and Kitchen, P.J., 2012. How Integrated Marketing
Communications (IMC) works? A theoretical review and an analysis of its
main drivers and effects.
Crowther, P., 2011. Marketing event outcomes: from tactical to strategic.
International Journal of Event and Festival Management. 2(1). pp. 68-82.
Avraham, E. and Ketter, E., 2012. Media strategies for marketing places in crisis.
Routledge.
Baker, M.J., 2016. What is marketing?. In The Marketing Book (pp. 25-42).
Routledge.
Piercy, N.F., 2012. Market-led strategic change. Routledge.
Vegholm, F., 2011. Relationship marketing and the management of corporate image
in the bank-SME relationship. Management Research Review. 34(3). pp.
325-336.
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