Marketing Concepts - Assignment
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Added on 2020-11-12
Marketing Concepts - Assignment
Added on 2020-11-12
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Marketing Concepts andInternal Relations
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Roles and responsibility of marketing function................................................................1P2 Roles and Responsibility to marketing related to wider organisational context...............2TASK 2 ...........................................................................................................................................4P3 marketing mix...................................................................................................................4TASK 3............................................................................................................................................7P4 marketing plan...................................................................................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10.......................................................................................................................................................10
INTRODUCTIONMarketing is the activity which is associated with company for buying and sellingactivity. It is the process which involve several activities of attracting customers and enhancingsales. This report is based on, H&M which is an retail industry company founded in 1947 byErling Persson. Products offering by them are clothes and accessories as well as they areoperating in approx. 62 countries with almost 4500 stores. Below mention report is going toexplain marketing concept along with its current and future trend. Their are several roles andresponsibility of marketing manager within the company (Ahrens, 2011). Department of H&Mare highlighted with their interrelation to each other. In the end, 7Ps of marketing mix areexplained and how they help in achieving objectives as well as marketing plan with with relationof 7Ps. TASK 1P1 Roles and responsibility of marketing functionMarketing process consist of analysing different marketing opportunities, selecting thethe target market, developing marketing mix with management and marketing function thatsatisfy the customer's need and demand (Bird, 2012). The marketing process are as follows:Situation analysis: Analysing or identifying the opportunities to satisfy the unfulfilleddemand of the consumer. Basically the consumer needs and their purchasing powers. Asthe firm understand their own capabilities and the environment in which they want tooperate. Firm analysis the present past and future aspects, as to disclose the gab betweenthe consumer wants and what are offering to the customer.Marketing strategy: One of the best opportunity to satisfy the demand of the customer's.By developing different strategy plans such as market survey, segmenting the market andpositioning the offering with in the segment. And resulting out in the value proposition tothe different target market.Implementation and control: At this stage,the marketing process need to developed andthe product has been launched (Brooks and Simkin,2012). The result of the productdepend on the marketing efforts made by the the firm and continuously monitoring andadaptation of change is required to fulfil the need and demand. So that the variances of
the product can be adjusted on time. Often one small changes lead to dissatisfaction ofthe consumer.Marketing manager play a most important role in order to conduction marketing activitiesproperly. They are responsible for each marketing activities as they assign duties to employeesand evaluate the performance of the employees on regular basis. Such as:Creates market plans: According to the nature of the marketing the managers of themarketing Manager of the H&M creates an action plan to launch the product in themarket by analysing the need and demand,forecasting advertising,distribution of theproduct etc.. to carry out the marketing goals of the organisation and satisfy theircustomers.Identifying the potential markets: To create demand of the good and services that isbeing produced by the firm (Cabrera and Williams, 2014). The Marketing managers ofH &M continuously identify the new potential markets where the can maintain thecustomer relationship with the existing and the new customer.Evaluate the products: Customers need and demand differ from time to time. H&Mmanagers need to evaluate their produces on regular basis so that the can modify or altertheir products according to the need of the customer and satisfy their customer.Launch new product and services: H&M mangers attract new customer along with theexiting customer by evaluating the needs and wants of the consumer. According newgoods and services are offers to the existing customer and to attract new customer aswell.P2 Roles and Responsibility to marketing related to wider organisational contextMarketing actives is influenced by all the department of the organisation as itencompasses the entire business of the organisation (Bellenger, Bernhardt and Goldstucker,2011). In organisation each and every department is interrelated with each other which isimportant for easy and smooth flow of H&M. Moreover, it will result in generating high amountof profitability and employees satisfaction. Production Department - H &M production department adequately research accordingto the quality of the product to satisfy the current and future trend of the customer.
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