Marketing Essentials
Added on 2020-06-04
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Marketing essential
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 ...........................................................................................................................................1( Source: Fish Bone Diagram, 2017).............................4M1...........................................................................................................................................4M2 ..........................................................................................................................................5D1...........................................................................................................................................5P2 ...........................................................................................................................................5Different Department in an organisation.........................................................7TASK 2............................................................................................................................................8P3 ...........................................................................................................................................8M3 ........................................................................................................................................10D2.........................................................................................................................................10M4 Evidence based Marketing Plans...................................................................................10TASK 3..........................................................................................................................................11P4..........................................................................................................................................11........................................................................................................................................................14........................................................................................................................................................14........................................................................................................................................................15........................................................................................................................................................15........................................................................................................................................................16........................................................................................................................................................16CONCLUSION..............................................................................................................................18
INTRODUCTIONMarketing is defined as a process which is used to deliver a product from manufacturersto final customers. Process of marketing includes advertising of goods, selling them, distributionas well as market research for organisation. This report is being prepared for marketing essentialsin Wilkinson company (Asaduzzaman, Hossain and Rahman, 2014). This is a brand which isrelated to razors and other different personal care. This company is also involved in producingguns, typewriters, scissors as well as motorcycles. It was established in 19772 and this companyis owned by Edgewell Personal Care. This is a organisation which was first established in UKand now has a world wide approach. It can be found in 12 to 15 countries approx. this research report is consisting of marketing concepts as well as the roles andresponsibilities of marketing functions used in Wilkinson (Clow, and James, 2013). Pricing,distribution and selling of products are some of important functions that are being done byinternal departments of this company such as research and development, human resource andfinance etc. A marketing strategy is also being formulated in this report. Pricing policies anddifferent 7Ps of marketing mix are also discussed and compare by other competitor companies.TASK 1P1 It is important for Wilkinson to achieve its long term objectives and goals that allmarketing functions should be operated in well manner. There are many functions operated bycompany such as distribution, market research and deciding pricing methods etc. which are usedto maximising profits of company and get competitive advantage in market. These are done tomake products available to customers and satisfying their needs in an appropriate manner.Following are some functions performed by Wilkinson:Marketing information management: It is on of the most important function ofWilkinson because this is done to assess the market demands. This is being done to makeanalysis on market trend and evaluating that what are needs of customers and how they can befulfilled. It is important for an organisation to know the situation of their rivals or competitors inmarket so that necessary steps can be taken to go ahead from these rivals and make their businessthe best. By analysing whole market it will be easy for Wilkinson to achieve their goals and haveaccess on market. They can also satisfy demands of their customers. This function is helpful in:1
Controlling and assessing marketTo develop market for products making new strategiesDetermining size of existing market and growth potential for companyAltering and modifying products according to customer needs.Wilkinson research team is involved in making research in UK as well as overseasmarket because it's products are being sold in other countries also (Fox, and Wareham, 2012). Itmakes plan according to needs of their existing customers and also make changes in theirproducts to increase customer base.(Source: Marketing Functions, 2016)Distribution: This function is performed by company to deliver their products to ultimatecustomers with help of different distribution channels such as retailers, whole sellers and onlineshopping websites. This activity is carried away to assure supply of products from manufacturersto their consumers. It involves different other matters such as packaging and transportation ofthese goods. Razors and other personal products manufactured by Wilkinson are also distributedthrough different supermarkets, stores and retailers as well. Customers willing to purchase theseproducts can buy them from online shopping sites also. It has made their commodities global aswell. It is necessary for any organisation to design their distribution channel in such a mannerthat their clients should not face problem in accessing these products.Product: It is necessary for any company to design their products in such manner thatthey can attract more customers. It is important to increase and maintain sales of any productsthat these should be manufactured of good quality and should have features better that othercompeting organisations(Getnet, Kedir and Yousuf, 2014). Wilkinson is also concerned about2
their product quality and features that's why they make modification and changes from time totime in their products. It manufactures razors according to different skin types as well asdisposable versions also. It provides competitive advantage to company because if products aredesigned according to consumer needs then it will automatically enhance customer base forproduct.Pricing: This function is performed by any company to decide prices of their products insuch manner that they prove to be affordable to customers and also increase revenues forcompany. Pricing strategy of Wilkinson is also according to their customer efficiency to pay andit also helps in maintaining and increasing profits of company. Prices of products manufacturedby Wilkinson are determined after making appropriate research on market and its customers. Italso make changes in pricing policies according to market situation from time to time (Hsu, Tsaiand Chu, 2014). Prices are decided after taking into consideration prices of similar products ofany other company. If there are same products in market of cheaper prices then customers will beattracted towards those products. So it is important for company to operate this function withmore concentration and according to the worth of their products.Promotion: Products those are manufactured and sold by any company are necessary tobe promoted so that customers can have knowledge about them. There are many differentmethods of promoting products such as advertisements, posters, hoardings and blogs etc. thesecan be used to make products popular. These functions attract customers to buy commodities.Wilkinson also advertise their products through different modes. If there is any change in designof any product or any new commodity is being introduced by company in market then this can behelpful to provide knowledge of such changes to customers. It helps in increasing sales ofproducts and it publicise different features of such things.Financing: Without this function any company can not operate or perform any otherfunctions. This is being conducted to raise funds to run any business from different financialinstitutions and personal loans. To establish or perform any business activity there is always needof capital and funds and these are arranged and managed by financing function of marketing. Inthis function, need of funds is being assessed and after that sources of raising them are selected.Wilkinson's finance team also perform these functions and arrange capital for day to daytransactions and other necessary expenses of company.3
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