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Marketing Concept and Current & Future Trends - Ee Limited

   

Added on  2020-01-28

24 Pages6560 Words321 Views
MarketingEssentials

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Marketing concept and current & future trends....................................................................11.2 Different marketing processes...............................................................................................31.3 Key roles and responsibilities of marketing manager...........................................................51.4 Impact of marketing roles and responsibilities and its interrelation with other functionaldepartment...................................................................................................................................81.5 Importance and values of role of marketing.........................................................................91.6 Significance of effective interrelationship between different functional departments of anorganisation...............................................................................................................................11TASK 2..........................................................................................................................................132(a) ...........................................................................................................................................132b) Marketing plan for EE Limited...........................................................................................16REFERENCES..............................................................................................................................21

INTRODUCTIONThe process of management through which products or services move from producer toultimate consumer is known as marketing. It can be determined as business or actions by whichgoods and services are promoted and sold by the means of advertising or research of market. Theprocess of marketing includes functions of creation, communication, delivery and exchange ofoffering that are valuable for customers or partners or may be society at large. EE Ltd. is telecomcompany operating in UK which is a division of BT group. It is a mobile network operator andInternet service provider (Lane, 2016). It was established in 2010 as joint venture betweenDeutsche Telekom and Orange S.A. Marketing mix is the combination of various factors whichcompany controls to induce customers for purchasing its products. It consists of 7P's that play avital role in the marketing which are product, place, price, promotion, process, people andphysical evidence. This report throws light on the concept of marketing and its differentprocesses. Further, it explains the roles and responsibilities of marketing and its interrelationshipwith other functional departments of the organisation like HR, finance, production, etc.Moreover, the present report provides an understanding of extended marketing mix and itsapplication to achieve the organisational objectives.TASK 11.1 Marketing concept and current & future trends1

Notes :The methodology used by an organisation which evaluates customer needs and help toform such strategies to satisfy their demands better than their competitors to gain a competitiveadvantage is known as concept of marketing. According to this concept, customers andsatisfaction of their demands is the most crucial element of business in order to achieve goals oforganisation. EE Ltd. uses following current trends of marketing:Mass marketing: For the survival and growth of business, it is essential that large numberof people purchase its products. EE Ltd. needs to spend a huge amount to understand thebig data which will provide knowledge to company about where its media to be placed totarget potential customers of its products (Bennett, A.G., 2010). The mass marketingefforts are made thoroughly to give a feeling of warmth and locality to the customers.Online marketing: With the emerging technology, marketing through internet has becomevery common. The cited organisation has adopted different methods such as onlinebanners and pop ups to attract more customers. It is important for business to developstrategies which aids in online marketing of products and services.Word of mouth marketing: It is an ancient type of marketing practice. In this type ofmarketing, information regarding the product is transmitted from one person to another2

through oral communication. The marketing team of cited organisation have knowledgefor creating authentic word of mouth for its products. and Direct marketing: Digital media such as mobile phones, computers, tablets and laptopsare used for the promotion and advertisement of EE Ltd.'s products and services. Internetmarketing is the most crucial practice of digital marketing whereby customers can bereached at their homes effectively.Following are the future trends which will greatly influence marketing practices in thecoming time:Notes :Mobiles: Mobile phones are going to become the focal point of marketing. It can be seenthat the dependency on mobiles for small to big works have increased tremendously. Thefocus is shifting from large screens to smaller ones (William, 2012). This would ensureestablishing personal relationship with the customers.Transparency: With the change in time, customers will become more demanding andexpect transparency from companies. They would tend to seek more organisation'sengagement to ensure brand value and transparency.The next internet would be social: Use of social media will change the shape ofmarketing. It will become an integral part of marketing practice. Most of the brandswould be seeking full transition of marketing efforts into social channels.3

1.2 Different marketing processesNotes :Marketing concept of the cited organisation tends to identify customer needs that are notfulfilled and then, bringing such products to the market that would satisfy those needs. Thisprocess involves a sequence of steps which includes – identification of opportunities byanalysing the situation, strategy formulation for value proposition, tactical decisions are formedand then, implementing the plan and monitoring its results (Durmaz, 2011).1. Analysis of situation: A situation analysis is conducted to identify unfulfilled needs ofcustomers where EE Ltd. serves. It includes analysis of macro environmental factors that areexternal to an organisation and also, micro environmental factors that are related to specificsituation of the cited organisation.2. Marketing strategy: A strategic plan is formulated after identifying the best opportunity forcustomer satisfaction to pursue that opportunity. Market research helps in the selection of targetmarket and positioning of products within that market segment that will result in valueproposition. Marketing strategy involves the following:Market segmentation4

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