Impact of Marketing Strategies on Business Success

This assignment delves into the realm of modern marketing strategies, examining their influence on business success. It encourages a critical analysis of diverse marketing approaches, supported by case studies and relevant research findings. The focus lies in understanding how strategic implementation of marketing tactics can contribute to organizational growth and profitability.

MARKETING
ESSENTIAL

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 1 HAS BEEN COVERED IN PPT...................................................................................3
TASK 2............................................................................................................................................3
2 (a) Elements of marketing mix ................................................................................................3
2 (b) Marketing plan to meet EE limited marketing goals ..........................................................6
CONCLUSION .............................................................................................................................11
REFERENCES .............................................................................................................................12
2

INTRODUCTION
Marketing is an activity which is performed in enterprise for carrying out sales activities
of the enterprise. Advertising and promotional practices helps in attracting the consumers for
selling products and services of the organization (Claycomb and Martin, 2013). It is assertive
that strategic approach should be used for carrying out required business activities in effective
manner. Other than this, involvement of all staff members and management is essential so that
the functions should be executed in potential way (Akturan and Tezcan, 2012). Present report is
based on EE limited which is a leading mobile manufacturing company of UK. Concepts of
marketing and current trends and future needs that are going on in the industry have been
mentioned in the report. Other than this, overview of marketing process and roles and
responsibilities of marketing manager has been mentioned in the report. Values and importance
of marketing and significance of having constructive relationship between different functional
departments of EE limited have been described. In addition to that, elements of marketing mix
and marketing plan for meeting goals of EE limited have been mentioned in the report.
TASK 1
TASK 1 HAS BEEN COVERED IN PPT.
TASK 2
2 (a) Elements of marketing mix
EE limited is operating their functions in global market area and it offers superior quality
telecom services and mobile services for its business consumers. Company provides internet
services and millions of customers uses mobile and telecom services that are provided by
business consumers. It is vital that effective marketing strategies should be used in the enterprise
so that financial revenues and profits of the organization can be enhanced. Marketing department
of the company formulates effective marketing strategies so that services and products of the
enterprise can be offered to large base of consumers (Shani and Chalasani, 2013). In addition to
that it is required that better and strategic decisions should be taken in the enterprise so that sales
and profitability of the enterprise can be enhanced. Elements of marketing mix supports for
making marketing strategies for the entity and it helps for carrying out the required functions in
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better and effective way. Major elements of marketing mix that can be used in EE limited are as
follows :-
Product :- EE limited offers telecommunication and mobile services and millions of consumers
are using services of the enterprise. Consumers are most important stakeholders of the business
that provides revenues for the enterprise. Company has opportunity for launching new services
and making modifications in existing services (Niffenegger, 2013). Lower income group
consumers can be targetted by the entity and it will help for selling products and services to large
consumer base. EE limited offers internet and mobile services and company can take effective
approaches for carrying out business activities in better way. Prepaid services and other
innovative mobile services can be launched and it will help for offering wide variety of features
and services to consumers (Işık, Jones and Sidorova, 2013).
In addition to that EE limited can add innovative features and concepts in existing
product range so that consumers can be provided with wide variety of options. Some new
services that can be offered by EE limited includes Wi-Fi services, 4G internet services and
mobile communication services for its business consumers. O2 is rival firm of EE limited and it
captures big market share in the telecommunication industry. This company offers voice
message services and recently company has also launched 4 G services. O2 provides superior
quality internet services and due to that consumers gives preferences for using services of the
enterprise. WI-FI services are also offered by O2 at a reasonable price range and large number of
buyers makes use of various telecommunication services that are being offered by the enterprise.
Place :- it is assertive that goods and services that are offered by EE limited should be easy
available for the buyers. Place is a significant element that needs to be considered while
executing operations of business. Stores of the company needs to be opened in a place where it is
easily available for buyers to access services and products that are offered by the enterprise. It
will help for gaining competitive advantage for the business (Persaud and Azhar, 2012).
Technical advancements that have happened in the telecommunication industry have
supported for providing better and effective communication services to business consumers.
Online medium can be used for providing information and details to the consumers about diverse
range of services that are offered by the organization. Physical stores of the enterprise should be
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opened at the place where it should be easily available for consumers to avail services and
products that are being offered by the organization (Challagalla, Murtham and Jaworski, 2014).
Competitive pricing strategy is used by O2 organization and products are sold at affordable price
range. It helps O2 company to gain huge profitability and enhancing financial revenues of the
enterprise. In addition to that company has more than 270 outlets where products and services
are sold to the consumers. Large number of outlets supports for reaching to a big consumer base
for selling products and services. It aids the company to reach at large consumer base and it also
helps the business to gain competitive advantage. EE limited is focusing on reducing the number
of physical stores so that consumers can be sold the services via online mode. Other than that it
is also focused that company should sell its products through online mode (Persaud and Azhar,
2012).
Price :- EE limited sells services of the organization to a big consumer base and it targets upper
and middle income group consumers for selling services of the organizations. On the other hand
O2 which is a rival firm of EE limited offers products at affordable and reasonable price range an
d it helps for gaining large market share in the telecommunication industry (Li and Li, 2013).
Different types of pricing strategies are used by the organization for determining and setting the
price of the products that are being offered by them. Other than that competitive strategy is used
by O2 for setting price of products and services that are being offered by them.
EE limited uses skimming pricing strategy and it helps for setting price of the products
that are being offered by them. In addition to that price of the product is main feature which is
focused by consumers for selling products. Whenever a buyer goes in market for purchasing a
specific product or service than the first priority is given on the price of the product. Pricing
strategies adopted by various business organizations for genning competitive advantage and
selling more number of products to consumers (Albayrak, Aksoy and Caber, 2013). It also helps
organizations to accomplishing the desired objectives of the business in effective way. O2 and
EE limited both uses different types of pricing strategies for determining the cost of
telecommunication services and mobile services that are being offered by them.
Promotion :-Effective and attractive promotional strategies are used by the enterprise for selling
products and services to consumers. Promotional strategies supports for promoting the goods and
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services and making consumers aware about the different products that are being offered by the
enterprise. Organization uses different types of promotional strategies for carrying out required
business functions. EE limited does promotions of services by making use of online platform .
Consumers are provided information about attributes and features of products that are offered by
the entity (Tsimonis, and Dimitriadis, 2014). On the other hand O2 organization makes use of
newspaper and television advertising for selling products and services that are being offered by
the enterprise. Attractive and eye catching advertisement are given in the newspapers which
helps for gaining attention of people towards the services and products that are being offered by
the enterprise.
People :-Employees of the organization provides positive and effective support for carrying out
required business functions in effective way. EE limited takes positive efforts for making
significant improvements in skills and capabilities of staff members. On the job training program
are used and job instruction methods are used in which staff members are asked to work in the
supervision of a mentor.
Rewards and incentives are also given to employees which helps for motivating the staff
member for accomplishing the goals and objectives of the enterprise. However, O2 organization
uses off the job techniques for gaining goals and objectives of the enterprise in successful
manner (Wilson, Zeithaml and Gremler, 2012). In this case study programs are used in which
employees are asked for identifying solutions for a specific problem that is being faced by them.
Process : All the operational activities at EE limited are planned and executed in systematic way
so that targets of the company can be accomplished properly. Supply chain and logistic activities
are performed by making use of operational process that are being performed in the enterprise. In
addition to that operational management approaches are used for executing the business
functions in better way (Shirsavar and Fashkhamy, 2013). On the other hand O2 organization
uses total quality management and total quality approaches for carrying out the business
functions in effective and better way.
Physical evidence :- Stores and physical outlets of the organization provides physical evidences.
People gets opportunity to come and purchase different services and products that are being
offered by the enterprise. O2 organization uses different methods for decorating the retail stores
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of the enterprise and it helps for attracting consumers for selling the services and goods that are
being offered by the entity (Roshani, Zad and Bijarchi, 2015).
2 (b) Marketing plan to meet EE limited marketing goals
Marketing plan formulated in structured and strategic way supports for accomplishing
long term and short term goal of the enterprise. It s critical that data and information should be
collected from authentic and reliable sources so that action plans should be formulated in better
and effective way. Support of management and staff members is essential and it is also required
that positive efforts should be made by all the people so that goals should be achieved in better
and effective way. It is assertive that step by step should be followed so that action plan should
be formed in better and effective way (Roshani, Enayati and Lashkary, 2013). Marketing
manager of EE limited is accountable for formulating the marketing plan and it is also required
that management and other functional department of the enterprise should also give their positive
and valuable support so that goals of the company can be achieved. Some prominent steps that
are needed to be included in the marketing plan are as described :-
Company overview :-
EE limited perform business functions in telecommunication industry and superior
quality services and products are offered by the enterprise. Operations of the enterprise were
started in the year 2010 and since than organization is active in the telecommunication industry.
Moreover, company is leading in this industry and presently there are more than 520 retail stores
of the organization (Mishra and Sinha, 2014). Company makes use of price skimming strategy
for determining price of services and products that are offered by it. In addition to that major
competitor for the company includes O2 and T mobile company.
Company work with the vision to be market leader in telecommunication industry. Vision
of the entity to be brand leader in market which offers high speed and better quality internet
services for its business consumers. Use of online marketing platform is also done by the
organization for selling the products and services of the enterprise. Effective marketing strategies
adopted by the enterprise supports for executing required business functions in better and
effective way (Makvandi, Aghababapoor and Mondanipour, 2013). EE limited makes use of
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innovative and attractive marketing approaches for executing the required functions of business
in better way.
Analysis of current market situation :- Telecommunication industry is facing tough
competition and many players are trying for starting their operations in this industry so that
opportunities available in this sector can be utilized properly. Other than this competitor firms
are making use of strategic approach for executing business functions. Intense rivalry is also
faced in telecommunication industry and due to that intense competition is faced. It is required
that innovative approaches should be used for doing analysis of external market situation. It has
become critical that innovative approaches should be used for meeting the challenges that have
been imposed in the external business environment (Gordon, 2012).
Major activities and practices :-
In this section marketing manager will form various activities that are needed to be
included under the marketing plan. Other than that activities related to sales, operations and
marketing plan needs to be included in this section. Different types of practices and procedures
are needed to be included in the marketing plan. Inbound logistics consist of inventory control,
and internal practices of the organization are included under this segment (Chaffey, Smith and
Smith, 2012). Other than that logistics and supply chain activities are enhanced by making use of
this approach. Moreover, operational activities are performed in the organization for designing
and developing services and products that are offered by the company. Outbound logistics
activities are performed in the entity in which manufactured and final products and services of
the company are transferred to the business consumers. Customer service activities are also
performed in the enterprise for delivering better and effective services to business consumers and
it also helps for gaining loyalty and trust of consumers.
Supporting practices :- functional department of EE limited including human resource
department, finance department, customer service department and operational department of the
enterprise. Finance department allocate budget so that necessary activities can be carried out.
Human resource department hire personnels and train them so that they can accomplish the
assigned task and responsibilities in better and effective manner (Mishra and Sinha, 2014).
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Innovative and new technical instruments can be purchased in the entity for executing the
required business functions in better and effective way.
External analysis of market conditions :- PESTEL analysis can be done for identifying about
different external business factors that gives impact on the functioning of business. Major
elements of PESTEL analysis are as mentioned :-
Political :- Rules and regulations that are formed by government of UK for carrying out business
functions gives impact on the overall functioning and performance of the organization. It is
assertive for EE limited to follow the guidelines and instructions given by government.
Economical :-Inflation, deflation and other economic conditions of nation gives impact on the
operational activities that are performed in the enterprise.
Social :- trends, beliefs, values and norms that are existing in the society gives impact on the
operational activities that are performed in the entity.
Technological :- regular technical changes are happening in telecommunication industry and it
gives impact on the functioning of the organization. Other than that it is essential that EE limited
should adopt new technology so that better and effective decisions can be taken for the
enterprise.
Environmental :- Climatic conditions such as temperature changes, rain fall and other changing
situations gives impact on the business functions performed by the EE limited.
Legal :- norms and policies are essential to follow and it is required that all should be followed
properly so that better and effective decisions can be taken for the enterprise.
SWOT analysis :- it will support for analysing the internal business conditions and on the basis
of that better marketing plan can be developed. Company is leader in telecommunication
industry and it is the biggest strength for the enterprise. However new technology has not been
properly implemented in the company due to which it becomes difficult for implementing the
marketing strategies in effective way. In addition to that company has option for expanding the
business operations in international market area and it is the biggest opportunity that is available
for the enterprise.
Objectives of marketing plan :- objective of marketing plan for EE limited is for enhancing the
sales by 5 % by the end of financial year 2017. Company is planning for attracting more number
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of consumers so that products and services can be sold to big consumer base. In addition to that
company will enhance its existing consumer base by 5 %.
Strategies adopted for accomplishing the marketing plan :- company will target middle and
lower income consumers and all the services will be offered at affordable price range.
Advertising and promotions of services will be done through online media platform and
consumers will be attracted by giving discounts and offers for purchasing services and products
that are offered by the enterprise. Sales people will be given training so that they can
communicate the attributes and features of services and products that are offered by the
enterprise (Makvandi, Aghababapoor and Mondanipour, 2013). Company is planning for
enhancing sales by 5 % and due to that it is required that marketing strategies will be properly
implemented in the enterprise.
Segmentation, targetting and positioning strategy :-
In accordance with this concept, segmentation are divided into small groups. This way
EE Limited get to develop effective groups that is analysed on the basis of behaviour and
characteristic. For the firm, is important to identify potential customers for the growth of the
organization. With this respect, segmentation can be made on the basis of psychological,
demographic, geographic and behavioural. Among all these cited firm should select demographic
segmentation as it is helpful enough to make proper division of customers in an effective
manner. More specifically, management can also make division on the basis of income at
workplaces. Further, it is also important that firm determine the target as it helps to deal within
customers properly (Niffenegger, 2013). In this context, management can aim at developing
strategies to attract young people. Moreover, to attain competitive advantage, differentiation
targeting strategy. In addition to this, more than two type of segments are used in order to attract
customers.
When targeting is done by EE Limited, then it is essential to make use of strategies for
positioning. There are organizations like T-mobile, O2, etc. which deliver their customers with
similar products and services. It is important that proper steps are taken so that cited firm
develops strong position when compared with these firms. Strategies like low price, high quality,
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etc. should be used so that they will be able to develop a strong customer base and this is also
helpful in attaining competitive advantage.
Budget allocation and tactical action plan :-
Actions and Tactics
EE limited can make use of different set of tactics within the market. In this context,
below given are few of the tactics:
Advertisement: There are different type of sources that are available for the organization
like EE Limited to deliver information and understanding of the product that is provided by the
firm. With this respect, it includes newspapers, television, radio, magazines, etc. All these have
positive perception among the mind of people. Further, it is helpful to develop curiosity for the
products and services (Işık, Jones and Sidorova, 2013). This way it raises the sales and
profitability of the company but it is important to make sure that the advertisement is helpful
enough to attract people.
Marketing through social media: This can be determined as a type of strategy that
provide management with the opportunity to convey information to customers regarding the
products and services that are delivered by the firm. It provides the opportunity to have direct
interaction with customers and to know their perception about the products. Further, in this
modern world, the rate of internet users are raising at an increasing rate. As a result, firm will be
able to identify potential customers and to their sales will also raise (Challagalla, Murtha and
Jaworski, 2014).
Control: Marketing manager of EE limited has to power to operate different set of
operation within the organization in order to manage business targets. All the activities has to be
monitored effectively and efficiently. This will enable to make sure that issues that are faced by
employees are eliminated. This will help to provide them with proper training and this way skills
can be improved. In addition to this, they can raise profitability and sales of the organization.
This way wastage can be minimized and better quality services can be provided.
Budget: In order to achieve all the activities, it is important for the marketing manager to
make sure that there is proper budget arraigned. When budget is not proper managed, then it
becomes difficult to achieve the targets that are set. As per the findings, it can be stated that
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about £48 billion will be required in order to conduct market research within the company. In
addition to this, £100 billion will be invested for make the new product introduce in the market.
CONCLUSION
Summing up the above mentioned report it can be concluded that marketing is an
essential concept that supports for selling products and services of the business to consumers.
Company can make marketing plan by making use of strategic and structured manner. Company
can make use of social media marketing so that more number of consumers can be made aware
about the attributes and features of services that are being offered by the entity. Other than that
segmentation, targetting and positioning strategies can be used for targetting specific group of
consumers for selling products and services of the entity.
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