This document provides an introduction to marketing, explaining its purpose and the 7p's of marketing mix. It also discusses SWOT analysis, Ansoff matrix, and the use of digital marketing for organizational growth. The document includes references for further reading.
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INTRODUCTION TO MARKETING
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Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 Explain marketing and also define 7p’s of marketing mix?...................................................3 TASK 2............................................................................................................................................4 SWOT Analysis......................................................................................................................4 TASK 3............................................................................................................................................5 Ansoff matrix..........................................................................................................................5 TASK 4............................................................................................................................................6 How company can use digital marketing for growth of organisation....................................6 CONCLUSION................................................................................................................................6 REFERENCES................................................................................................................................8
INTRODUCTION Marketing is considered as a process in which business organisation focuses on marketing of goods and services by using different promotional techniques such as advertisement, sales promotion, and many more. In this report, the company undertaken named as Marks and Spencer. It is well known retailing organisation that offer different variety of products such as clothing, home product to its customer. In this assignment, marketing mix is explained in detail manner. In addition to this, the swot analysis is used for analysing internal environment to remain competitive at market place. The Ansoff matrix is also explained in this report to identify strategic direction that helps in taking proper decision. Apart from this, digital marketing is used by organisation to increase performance and growth of organisation(Baker and Saren, 2016). TASK 1 Explain marketing and also define 7p’s of marketing mix? Marketing is considered as an activity that help in generating, communicating and exchange offering that provide value to its customer in order to satisfy them. Therefore, the main purpose of marketing is to satisfy the demands of customer by providing them goods as per their need. In addition to this, the marketing mix is used for satisfying the need and wants of customer. The marketing mix is considered as an integration of various elements such as product, price, place promotion, process, people, physical evidence and many more which is given below: Productthe product is considered as a thing that satisfies the needs and wants of customer. If the organisation needs to improve new product than it is significant to produce high quality of products and services at Marketplace. Priceit is important for business organisation to set affordable price for increasing sales and profit in upcoming time period. In context of Marks and Spencer, they focuses on providing products and services to its customers at affordable prices that helps them in increasing experience level of customer in future period of time. Placethe business organisation provides product and services to its consumer in convenient place that enhances experience of its customer. The main purpose is to provide product and services as per their need in convenient place that helps company in satisfying their user during particular phase of time period.
Promotionthereare variouspromotionaltechniquessuch asadvertisement,personal selling, sales promotion which is adopted by manager of Marks and Spencer in order to increase the awareness regarding products and services to its customers. Peopleare the individual person who operates different activity of business organisation for achieving target in timely manner. It is necessary for organisation to have a right people so that they provide product and services as per need of user. Processherein, the organisation focuses on providing effective services for satisfying its customers. In context of Marks and Spencer, they provide products and services according to need of its user in order to satisfy them(Galan-Ladero and Alves, 2019). Physical evidenceall services involve some physical factors such as branding, packaging of product, outlets from where the organisation provides product and services to its user. In context of Marks and Spencer, they provide branded or attractive goods to its consumer in order to increase sales. On the basis of above analysis, it has been assessed that marketing mix is used for increasing sales or profit margin of company. TASK 2 SWOT Analysis SWOT Analysis is considered as a strengths weaknesses, threats and opportunities of business organisation. The manager of Marks and Spencer focuses on grab opportunities in order to minimising threat at Marketplace. STRENGTHSWEAKNESSES ï‚·MarksandSpencerprovidewide variety of product and services to its user that helps in increasing sales and profit margin in future period of time. ï‚·Due to high recognition of brand name, they achieve leading position around the globe. ï‚·Duetoincreaseinhighlevelof competitionfromothercompetitive firms such as PRIMARK, H&M that decreases profit margin and sales of the company during particular phase of time period. ï‚·Furthermore, due to wrong assumption of young generation that Marks and Spencerprovidetheproductand services which are mainly for aged
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peoplewhichdecreasestheprofit margin of company in future period of time. OPPORTUNITIESTHREATS ï‚·MarksandSpenceroperatetheir business around the world that helps in achieving leading position across the world. ï‚·MarksandSpencercanimplement innovativetechnologyinorderto provide product and services according to the need of customer at Marketplace. ï‚·Due to increase in competition level in all field of organisation that decreases profitmarginofcompanyduring particular phase of time period. ï‚·Theydonotconductresearchfor analysing wants of customer so that they do not provide them product as per their needs can be considered as main disadvantages for company. TASK 3 Ansoff matrix Ansoff matrix is useful in making appropriate strategy that helps in providing strategic direction to organisation. In context of Marks and Spencer, they adopt Ansoff matrix which is going to be mentioned below: Market Penetrationin this matrix, the company focus on marketing its goods and services to its user that assists in increasing market share or enhancing profit of organisation that helps in satisfying its customer(Gummesson, 2017). Market developmentFurthermore, the organisation focuses on exploring new markets by offering existing goods to its user in order to satisfy them. In context of Marks and Spencer, they use different promotional techniques such as advertisement, sales promotion in order to satisfy the customer by offering needed product to them. Product developmentherein, the company modify its product in such a manner that helps in attracting large number of user at Marketplace.
Diversificationin this Matrix, the organisation focuses on exploring goods and alters its products according to the need of its user. The organisation provide innovative product to its customer at market place for satisfying than. Therefore, it has been analysed that Marks and Spencer adopts product development strategy in order to provide innovative product to its customer at existing marketplace. TASK 4 How company can use digital marketing for growth of organisation. There are various digital marketing tool such as Instagram, Face book and LinkedIn used for increasing performance of business organisation that is given below: Face book:It is considered as a social media tool that helps in increasing performance level of business organisation. In context of M and S, the company focuses on analysing need of its user. Instagram:it is determined as another tool which is used for increasing growth and success of business organisation in future period of time(White, 2018). CONCLUSION On the basis of given report, it has been assessed that Marketing is considered as a process in which business organisation focuses on marketing of goods and services by using different promotional techniques such as advertisement, sales promotion, and many more.
REFERENCES Books and Journals Baker, M.J. and Saren, M. eds., 2016.Marketing theory: a student text. Sage. Galan-Ladero, M.M. and Alves, H.M., 2019. Case Studies on Social Marketing.Management for. Gummesson,E.,2017.Fromrelationshipmarketingtototalrelationshipmarketingand beyond.Journal of services marketing. White, L.A., 2018. Social marketing in the Caribbean: Philosophy, programs, projects, and pedagogy.Social Marketing Quarterly,24(1), pp.35-44.