Stakeholders Engagement in Marketing Activity

INDIVIDUAL REPORT

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1A.........................................................................................................................................3
Stages of Marketing & Role of Marketing Mix.....................................................................3
The role of marketing in creating value for customers...........................................................8
Stakeholders engagement in marketing activity...................................................................10
TASK 1B.......................................................................................................................................11
Reflection.............................................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing refers to the set of activities, processes and institutions that helps to develop,
communicate and offer the products and services of the company that have value for clients,
buyers and whole society. Marketing mix involves actions or strategies that a firm adopts for
promoting its product in the market. The Report is based on Argos Ltd. It was founded in year
1972 by Richard Tompkins. The headquarter of the firm is located in England, UK. It belongs to
Retail industry. Argos offers wide range of consumer goods through online and physical stores.
It operates 883 retail stores and also have franchised business to overseas countries like China.
In year 2016, Home Retail Group was agreed for takeover of Argos Ltd. by Sainsbury for £1.4
billion (Fowler, Thomas and Saenger, 2019). The Report will outline various stages of marketing
and importance of marketing mix, role of marketing in developing value for buyers. Further, it
will also describe engagement and impact of stakeholders in marketing activities of the company.
TASK 1A
Stages of Marketing & Role of Marketing Mix
The process of marketing covers primarily the objectives set by the company, then comes the
situational analysis(SWOT, PEST) of the Argos, the marketing strategy that includes the target
audience, goals and the budget then marketing mix (4P's) finally the implementation and
controlling stage.

Source- The Definitive Guide to Strategic Marketing Planning, 2019.
STEP ONE : MISSION & OBJECTIVES
The planning process of retailers start with the determination of the mission and objectives of the
business. Setting goal and objectives are the primary step in marketing process as without setting
them company cannot start their work. The mission of Argos is to provide those product that
provide value for money and convenience to the customer's (Bandara and Ranasinghe, 2019).
The marketing objective of Argos company is to increase sales and profit by 10 percent within
three months. In addition to this, other objective of Argos firm is to increase customer base and
market share. Marketing team in an organisation that has developed effective marketing
strategies for achieving set objectives. It is required by manager in an enterprise is required to
share the mission and vision with employees , as this tactics will provide workers an ease in
identifying their roles and responsibilities.
STEP TWO: SITUATIONAL ANALYSIS
The next step is to evaluate the internal and external factors that possibly affect the company and
it's operations. It is basically a step that involves primarily identifying the opportunities.
PEST ANALYSIS

Political Factor: In context of Argos, an organisation by complying with the business standards
and regulations can get an ease in entering into new market which will help an organisation in
achieving its objectives of increasing market share. In addition to this, by supporting the political
parties , Argos can get ease in expansion of business operations. Political instability in the
nation can create hindrance in the promotional activities performed by enterprise.
Economic Factor: Argos by offering the discounts can attract customers and influence them to
buy goods or services. It is the marketing tactics which will assist an enterprise in increasing
sales and profitability. Unfavourable economic condition and decrease in consumer income can
result into decline in sales of organisation which might have adverse effect on profitability.
Social Factor: Considering the change in trend and preference of customers Argos could focus
on ethical or green marketing, as these strategies will help an enterprise in changing the attitude
of customers towards firm (Marion,2019). Taking initiative for changing the behaviour of
customers towards organisation is very much essential in order to get an ease in expansion of
business in new market. An organisation might have to face difficulty in maintaining balance
between demand and supply due to continuous changes in customers taste or preferences.
Technology: In context of Argos, company can develop innovative product by utilising the
advance technology, as this strategy will assist an enterprise in attracting more number of
customers that is very much crucial in order to achieve marketing objective that is to increase
customer base. Advancement in technology can give rise to stiff competition because of which
company might have to make additional investment on marketing for attracting customers.
SWOT ANALYSIS
Strength: Argos is one of the reliable supplier and has strong base in supplying raw materials.
The company has expertise in entering into a market and making successful brand name. Argos
has a strong brand portfolio and is also useful if the company wants to develop into new product
lines.
Weaknesses: Argos has high attrition rate that needs to be solved by spending comparatively
more on training and development of it's employees. The company needs to have more
investment in new technologies and integrate the process. Investment in Research and
Development is low as compared to the other rival companies in the market.
Opportunities: The company can develop it's online channel as this tactics will support an
enterprise in accomplishing objective of increasing sales and profitability.. In addition to this, by

using the online channel an organisation can reach to wide number of target customer group and
could influence them for buying goods or services which is very much essential in order to
increase sales and income. free trade agreement has given this opportunities to Argos to enter
into the new market(Fowler, Thomas and Saenger, 2019). By expanding business operations at
international level, Argos can achieve its objectives of increasing market share.
Threats: introduction of substitute product by competitors can create challenge for an
organisation in relation to increasing sales by 10 percent within three moths. In addition to this,
the implementation of the discounting pricing strategy might lead to the decline in sales of
enterprise.
STEP THREE: MARKETING STRATEGY
The marketing strategy or plan includes following 3 things which are as follows:
In this stage the audience is targetted from the various segments that will be helpful in attainment
of the objectives, then the goal is set and budget is prepared.
Define Target Audience: Identifying the correct target customer group is very much essential in
order to accomplish desired marketing objectives. An organisation can adopt the market
segmentation strategy, as it will assist them in identifying the right customer group for selling
the goods or services. It is the tactics which will provide an organisation an ease in identifying
as well as fulfilling the customers needs which is very much essential in order to accomplish
objective of increasing sales and customers base (Ngarava and Mushunje,2019).. By marking
online presence or promoting brand using the social media platform , Argos can promote its
products at large scale. It is the marketing tactics which will help an enterprise in increasing sale.
Argos can use demographic marketing strategy in order to segment wide market.

Source- The Definitive Guide to Strategic Marketing Planning, 2019.
Set Measurable Goals: The objective set by Argos is that they will use the new technology and
increase their profits by 20% and sales by 10% within six months .
Set a Marketing Budget:
STEP FOUR: MARKETING MIX
The marketing mix for Argos is as follows:
Product: It is the element in marketing mix which plays very much important role in assisting an
organisation in increasing sales and profitability. Innovative product support organisation in
attracting customers. In context of Argos, an organisation can increase sales by offering
customers with good quality of products. Customer centric approach can be applied by
organisation for developing the products.
Price: This is important element which plays important role in helping enterprise in influencing
people to buy goods or services. Management in Argos organisation need to set the price of

goods on the basis of ability of particular good to satisfying need and demand of customers. As
if an enterprise will set high price for product it might lead to decline in sales . If business entity
set price too high then it might lead to the decline in profit margin of firm. It is the Competitive
pricing strategy can be adopted by the Argos , as it will help them in maintaining sales and
profitability.
Promotion: It is the element in marketing mix which plays crucial role in supporting business
entity in assisting target customer group to recognize their needs. Argos can introduce online
marketing strategy to increase the sales of the company.
Place: It plays essential role in supporting company to provide customers an ease in accessing
the goods or services. Providing customers comfort in buying the product is crucial in order to
increase as well as maintain ratio of sales or profit.
STEP FIVE: IMPLEMENTATION AND CONTROL
The final step is the execution stage that means the product developed now has to be brought in
the market for introducing to the customer's. In this phase the company has to persuade the
customer's for whom the product is developed. To keep a check on the implementation Argos has
adopted benchmarking strategy for evaluating the performance of the product. The benchmarking
strategy will measure the increase in customer and market share. It will help in staying focused if
the benchmarks are set, weekly actions are planned and daily marketing strategies are fixed.
Marketing is dynamic , the company should regularly monitor the work and if found any
deviation should be corrected on time(Ramani and Srinivasan,2019).
The role of marketing in creating value for customers.
Customers are one of the most important asset for any business. Without loyal customers
no organisation can survive. Adding the value to products or services is a tactic that organisation
uses for attracting and retaining loyal customers in the business. Further, it also helps to
differentiate the product from competitors. One of the major role played by marketing is
providing satisfaction to the customers. According to Ulaga and Kohli (2018) Customer value
can be defined as the perception of buyers towards the worth of product or service offered by the
company versus other alternatives that are available in the market. One of the major function of
marketing is to develop value for the customers.
According to Kachouie Mavondo and Sands (2018) marketing helps to develop value for
buyers in different ways. Firstly, Marketing Manager of Argos helps to conduct market research

for offering products to existing as well as targeted segment of buyers. Marketing research helps
the firm to determine target segment for whom company will develop and offer the products.
This helps to satisfy the need and demands of customers. Market research help Argos to
determine the type of products that are required by the customers and adds value to the products
by differentiating them with the competitors. For Example - It has recently changed its logo
and packaging of products of different brands like Visiq etc. Further, marketing department of
Argos supports the firm to address the needs of buyers by offering the product through different
channels. Moreover, Argos is having the policy of collecting feedbacks from target customers
regarding the benefits, convenience of the products. Feedbacks from clients help the firm to
modify the features and other aspects related with the product. This helps to retain loyal
customers by developing valuable products. For example It offers products under different
brands through three flagship habitat stores like clothing, financial services etc. Buyers will not
shift towards the products offered by the competitors. It also plays an important role in retaining
clients of the company for a long period by developing new opportunities for Argos to retain
loyal customers such as differentiating the products of the firm by innovating new products or by
modifying existing products with the help of unique features, benefits etc. Customers can give
feedback through telephone, send e mail etc. It helps Argos to improve the quality of existing
products.
Therefore, it can be said that marketing plays a major role in creating value for the
customers of an organisation. Argos performs various marketing such as identifying target
customers with the help of proper market research. Satisfying the needs of customers by
delivering products through various distribution channels like Facebook, website of company
more than 850 physical stores in different countries and retaining loyal buyers with the help of
word of mouth, marketing campaigns. For example - The get its or don't gets it's is one of the
best example of ads of Argos. Through this ad, Marketing department of the company helps to
understand, reach and offer valuable products to buyers that results in creating value for
customers. Employees working in marketing department of Argos plays a major role in
conducting research that helps to create value for the clients and then use this information for
delivering products to targeted segment of customers in different countries. Moreover, Argos
uses different platforms for promoting the products in the market. Such as digital social media

platforms helps to communicate with ultimate consumers. Therefore, there are various tools that
help the marketing department to develop, maintain and manage relationship with buyers.
According to Chang, Wang and Arnett (2018) the activities of marketing of Argos
includes finding target customers and understanding their demands through online orders,
tracking needs and wants of buyers, responding to the needs of clients and expanding the reach
to customers. The marketing activities of Argos focuses on various aspects more than just the
price like customer satisfaction. With the help of marketing campaigns, the company focuses on
developing emotional connection with buyers.
Stakeholders engagement in marketing activity
Stakeholders engagement is a activity in which the company includes people who can be affected
by some decisions the company make or can affect the implementation of the decisions. They
can either support or oppose the decisions made by the management of the company.
Stakeholders include the customer's, investors, partners, government, competitors, media,
employees. Their influence has increased on the activities of the company, as the social
responsibility is becoming a major part of the business management. These are the key persons
that carry weight in decision making of the company and other activities. These stakeholders
have power to either make the business strong or adversely effect the business and their brand
name. So when the company is making strategies to strengthen their brands, they should analyse
every aspect. Analysing the impact of stakeholders engagement in Argos .
Government and Social Responsibility: The company vision, mission and objectives primarily
focuses on increasing sales and profits. However, now the government has made it mandatory to
equally support the social responsibilities and the companies should try to balance the social and
environmental responsibilities along with the profits. The changes in tax rates will influence the
marketing as when the tax rates are higher, their will be less profits and company will not be able
to invest in other areas. But when the tax rates are less Argos can have more profits and can
invest in promotional activities of various products(Sarker,2019).
Customer's and Community: Consumers have the power to influence the sales of the company,
as the unsatisfied consumers will switch to other products or other company. Consumers from a
long time are ruling the market and the companies and this is not because that the organisations
does not want profit maximisation but have realized that satisfying the customer's will help
Argos in long run and will sustain the profits. Group of people have the influencing power on the

marketing activities of Argos as the changing trend or the preference of the customer's change
the company need to make the marketing activities according to them.
Employees: Organisations are considering social responsibility, making community citizenship a
priority and also focusing on employees interests. If Argos hire new and diverse employees they
will bring new and innovative ideas in the company that can influence the marketing activities of
the company.
Investors: Investors does not have the right to say directly in the brand name, but they have a
interest in the success of the company as they are investing their money. Investors can impact the
marketing decisions of Argos as they can back out from investing or they will not give the
sufficient fund and due to this promotional activities will be stopped and affect the sales of the
company. If investors doesn't find the potential in the marketing strategy they will not invest and
this can negatively influence the financial strength of Argos.
Competitors: Although the companies doesn't directly ask the competitors, but understanding
their strategies will help Argos to position their company and set the business activities according
to that. Competitors are the one's who influence the companies activities and helps in changing
their policies and improving their working. Argos has to make changes in it's marketing activities
after analysing the competitors strategy to gain competitive advantage within the market. For
example Argos can provide additional discount on the products.
TASK 1B
Reflection
Marketing used to play very important role in increasing the sales of the business as
marketing used to establish the relationship between customer and the organizational offering. I
have also used the different online tool like email, Skype and mainly Blog post as a
communication tool to promote the information. Blog post is the communication tool which
promotes the goods and service of the company in front of the customer by the way of different
blog on the different social media platform. Blog post is consider as one of the most attractive
way through which the interest of the customer can be attracted toward the organization as it
present the product in more effective way in front of the customer, this is the biggest reason
which has created my interest or forced me to used the Blog post as a marketing tool. Not only
that Blogging has also helped me in increasing the market coverage of the company as Blogging

used to promote the different aspect of the product in front of the customer. As I was looking to
increase the sell of the company I have to make sure that I develop the blog which can have a
good impact on the selected group of the customer. As a result I am able to increase the number
of follower for the company which will eventually help the company in converting them in a
interested customer.
For understanding the success of Blog post I used Swot analysis as a measuring tool
Strength
The biggest strength which is brought by the Blog post was that it has helped me in reaching the
larger number of the customer as compare to the past as Blog post used to have a impact on
wider market area.
Weaknesses
It was observed that there are large number of the blog which used to be displayed at the social
media platform at a time, so customer generally used to ignore the blog. This will generally
affects the business as they are the targetted customer.
Opportunity
As Blog post helps in promoting the information of the product to the larger market area, it
always opens up the opportunity to develop the suitable and new customer base for company.
Threat
Blog post used to always creates the threat of data leaking and the security issue for the company
and the product of the organization.
CONCLUSION
From the present report, it can be concluded that marketing play a major role in achieving
the objectives of an organization. This report concludes that analysis and evaluation of processes
and stages of marketing includes the role of marketing mix which play a significant effect in
conducting a appropriate marketing practice with the help of marketing planning process which
includes several aspect that consist of mission objectives, SWOT analysis, PESTLE analysis and
many other aspects ending with monitoring of results.
Further this report concludes that there is a major role of marketing in creating value for
customers. This report also concludes that Stakeholder engagement is a essential part in the
organization which play a major impact on the marketing activities of the organization. Lastly

report concludes a reflection of a reflection of the tactical communication tools which are used to
generate awareness and interest in the project.

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Online
The Definitive Guide to Strategic Marketing Planning, 2019 [online] Available through
<https://www.smartsheet.com/strategic-marketing-processes-and-planning>