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Social Media and Marketing Trends

   

Added on  2020-01-28

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MARKETING ESSENTIALS
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Executive summary
The paper contains a discussion about the concept of the marketing and the process
associated with the topic. First it talks about the basic concepts of the marketing such as the
importance and the roles of the process. Then it sheds light on how the marketing mix
strategies are used by the modern companies of the economy by taking the specific case of
the EE limited, company producing mobile for the market of the UK. The paper sheds light
on how the company uses the different concepts and the tools of marketing for the
penetration of UK market. Lastly the paper produces the planning process of the marketing
taking into consideration the assessments of the internal and the external situation of the
company using tools such as SWOT and PESTLE.
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Table of Contents
Introduction................................................................................................................................4
Task 1: The role of marketing and the concepts related to marketing:......................................4
Development of the concept of marketing and external environments impact on marketing:
................................................................................................................................................4
Overview of the marketing process:.......................................................................................5
Role and responsibilities of marketing manager:...................................................................5
Responsibilities and roles of the marketing influence and interrelation with other functional
departments:...........................................................................................................................6
Importance of marketing:.......................................................................................................7
The role of the different market units and the interrelationships:..........................................7
Task 2: ways the organisation use the elements of marketing mix to meet the business
objective.....................................................................................................................................8
Task 2a: Comparative analysis of EE limited and its competitors.............................................8
The 7p marketing mix:...........................................................................................................8
Achieving business objective:..............................................................................................10
Shift from the 4P to the 7p marketing mix and its significance:..........................................10
Overview of the marketing planning process:......................................................................11
Task 2b: Development and the evaluation of the marketing plan...........................................11
Executive summary..............................................................................................................11
Company Overview..............................................................................................................11
Internal analysis....................................................................................................................12
External analysis...................................................................................................................14
Marketing objectives............................................................................................................14
Marketing strategies.............................................................................................................15
Segmentation, targeting and positioning (STP)....................................................................15
Tactics & Action...................................................................................................................15
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Budget...................................................................................................................................16
Control..................................................................................................................................16
Conclusion................................................................................................................................16
References................................................................................................................................17
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Introduction
In the contemporary world, most of the business is profit seeking and profit is the parameter
by which their performance is determined. Thus in order to seek profit the organisations
needs to reach out to the potential customers to tell them about the products and the services
of the company. Marketing is a tool that is used by the organisation to carry out a range of
study related to the behaviour of the customer. The marketing also includes the strategies and
the tools that need to be used for reaching out to the potential customers. This paper presents
a discussion on the concepts of marketing along with the ways the contemporary
organisations use marketing tools such as marketing mix for the achievement of the business
objective taking the case specific case of EE limited, a mobile phone company of the UK. In
addition to that, the paper also showcases the detail concepts and the processes of marketing
planning of EE Limited.
Task 1: The role of marketing and the concepts related to marketing:
Development of the concept of marketing and external environments impact on
marketing:
The term marketing dates back to the ancient time when the production houses used to belief
that the efficient production is the foremost requirement to ensure sustainability. Back then,
marketing used to be perceived as a philosophy rather than tools nowadays however,
marketing is a smart process which helps the organisation determine what to produce, for
whom to produce and how much to produce. As per the recent trend, marketing strategy is the
initial strategy of almost all of the new organisations who has the objective to introduce a
new type product in the market (Magrath and McCormick, 2013).
The external environment has a huge effect on the activity of the marketing process. There
are many external factors such as political, economic and social which influences the
marketing process. The government and its regulations guide the organisations to decide what
type of the product which will be introduced in the market. In addition to that, policies and
the rules and the regulations can create problem for the marketing department to introduce
few of the produced in a particular market. Economic factors on the other hand impact the
purchasing power of the potential customers that indirectly influences the marketing mix of
the company. In the case of economic boom, the organisations have a huge scope of
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capturing gains. On the other hand, economic boom reduces the scope of the marketing and
hence it impacts the activity and the performance of the organisations a whole (Garrigos-
Simonet al. 2012). Lastly the social factors determine what kind or content and what are the
approach that an organisation can undertake for a specific market. For instance, a society will
not accept a marketing content which uses racial discriminative message and hence the
reputation of the company may be at stake.
Overview of the marketing process:
The marketing is the overall process which transforms a concept to a physical good for the
use of the end customer. The concept of marketing is multidimensional in the case of
organisations. It is the tool to understand the needs and wants of the customers so that the
production and the innovation can be maneuverer to be in line with the demand of the
customers. Again the marketing also includes making the customer aware about the goods
and the service of the company (Bean and Hussey, 2012). In addition to that marketing also
enables the management of a company to set the value for the goods such that it is in line
with demand of the customers. Therefore, the notion of marketing is interacting with the
customers and research for the introduction of the new goods or services for the company.
Using the marketing tools and the strategies EE ltd can address it potential customers about
the specifics of the products and the service they provide. It will also enable the marketing
manager to understand the needs of the customers so that produced goods are apt for the
customers (Yoder and Murphy, 2012).
Role and responsibilities of marketing manager:
As discussed above, then concept of marketing is multidimensional and hence there are many
roles that the marketing manager of EE Limited plays for the operation of an organisation.
First and foremost role is to understand the environment of a market. Marketing manager
helps the organisation to design a product or service best suited for the situation of a market.
The marketing tools used by the manager of EE Limited also help the organisation to identify
the target market of a specific product (Stock and Reiferscheid, 2014). This enables the
organisation to work on the efficiency of the production of the organisation. After doing with
the target market and the associated segmentation, the marketing process as implemented by
the marketing manager also helps in the choice of the strategy that needs to be taken by the
organisation in line with the aim and the objective. Customers are the main stakeholders in
the case of contemporary business; in this context the marketing helps the organisation to
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