Marketing Essential.

Marketing Essential

Contents
INTRODUCTION...........................................................................................................................1
PART 1...........................................................................................................................................1
Covered IN PPT...........................................................................................................................1
PART 2...........................................................................................................................................1
a.) Comparison among two firms apply marketing mix.......................................................1
b.) Marketing Plan.....................................................................................................................4
CONCLUSION...............................................................................................................................7
REFERENCES..............................................................................................................................8

INTRODUCTION
Marketing is regarded as the procedures where an entity involves into the function of
promoting its product or services among audiences. This intent to leads its attraction towards
the offerings of firm for gaining value from them. The key aim of marketing procedure to
enhance income as well as assure firm’s constant profitable development for longer duration.
Moreover, it is one of the vital processes which assist company to influence huge customer
base and also assure enhance market share holding reflective industrial sector (Blythe and
Martin, 2019). For this report, the undertaken company is Argos which is a leading British
Catalogue retailer and having headquarter is in Ireland, UK. It is the subsidiary of Sainbury’s.
The topic which is going to be discussed in this report are roles and responsibilities of marketing
function and interrelationship among various functional areas. Along with this, Comparison
among two firms applies marketing mix and marketing plan is also discussed in this report.
PART 1
Covered IN PPT
PART 2
a.) Comparison among two firms apply marketing mix
Marketing mix is considered as a theory of marketing that states plan of action and
strategies employed through entity for developing long lasting optimistic impression upon
audiences at huge extent (Othman and et. al., 2019). Moreover, this may be determined as
concepts which encompasses component such as product, price, place, promotion process,
people and physical evidence. As Argos is a well known as catalogue retailer that realizes the
importance of strategically application of marketing mix components so as to develop brand
awareness into market area. One of their huge competitors has been recognized to be
ROBERT DYAS. The comparative marketing mix of both firms is described below:
Components Argos Robert Dyas
Product The product states as the items that
entity render to their targeted
marketplace. Respective entity
basically deals into catalogues.
Instead of this, the firm deals into
marketplace such as refrigerators,
This deal into the categories of
product such as laundry items,
gardening items, electronic
appliances, kitchen items and
many more that are sold into
England.
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skin care, furniture and others. The
various products helps them to deal
in different and attain objectives.
Price This is considered as amount which
audiences pay in exchange of
products (Kumar, Shankar and
Aljohani, 2019). The Argos stresses
upon utilisation of lower pricing
strategy for grabbing the attention of
whole societal audiences into
society. As it use the low pricing
strategy which will helpful in
attracting various customer towards
their products and outcomes in
attaining objectives.
It usually leverages reasonable
pricing strategy for staying ahead
of their competitors within current
market areas. Respective
company reasonable pricing
strategy helps in accomplishing its
objectives.
Places This is regarded as entity’s practices
that make product availability to
target audiences. It adopts both
offline and online operations mode.
Moreover, it aimed to grab attention
of huge customer base as well as
provide satisfaction to them by
providing standard quality of
products. As it opted both online and
offline mode so customer can able to
purchase their products according to
its comfort which will aids to attain
organisational objectives.
This avail its products into
England basically at South East
part. Moreover, consumers may
also obtain access to products
through online mode and achieve
their business goals.
Promotion This is regarded as the entity’s vital
practices that render the product
features and influence huge number
of audiences for buying it. So, the
respective organisation aims to
develop direct interaction with
It utilises offline and online
promotions for appealing to
audiences. In this respect, the key
channels applied through them
are newspapers, television, social
media and others. As promotion
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audiences for that they utilise
promotional tactics such as print
media, social media and many more.
It facilitates help firm to inflate their
present income level and profitability.
As respective element is helpful in
promoting its product and attain
business goals.
element allow them to use various
tools and helps in achieving
objectives.
People In firm, people are undertaken as
staff or worker who provide product
or serve services in front of
audiences. With having staff base
above 30,000, Argos facilitates
opportunities of empowerment to
employees so that this may inflate
their abilities as well as skills
effectively and efficiently. Also, it
instils a motivational sense within
staff inspire them to provide its
effective performance for attainment
of gaols in pre determined time
duration.
This believes in developing similar
authority opportunity for both male
and female staff, undertaking
them to be even. Respective firm
have some reserved post for
women employees that are
around 11 %. Moreover, it also
implies that their key intent is to
empower female staff as male
one.
Process This utilises latest procedures for
assuring smoothening delivery of
their products. The firm operates
through online mode. So that as fast
as possible the order get received
through Argos, this confirms based
upon the offering availability as well
as then moves towards another step
for delivery one. This element assists
them to deliver their product to
customers and attain its business
objectives.
This firm provides due focus upon
production procedure with key aim
of assuring the manufacturing
standard quality of products which
may demand to consumer base.
As through this they can able to
manufacture higher quality of
goods to customers effective
which ultimately helpful to achieve
business goals.
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Physical evidence It is known as one of the vital
elements of marketing mix as
currently also most of the people
have trust upon the products or items
which they may touch and see in
front of them. The Catalogue sold
through Argos is above 75% of whole
households. It tends to consider as
physical evidence for the customer
belief and faith upon their brand. As
this element develops trust among
audiences and achieve their goals
effectively and efficiently.
The due conscientiousness
procedures of the organisation
focus upon exhibiting the firm’s
commitment towards guarantee of
0% involvement within unethical
practices like black marketing,
slavery and many other. This
creates faith among people which
leads them towards attaining their
business objectives in appropriate
way.
Therefore, from the above comparison, it has been analysed that both the entities utilise
marketing mix elements in differentiate way as Argos utilise lower pricing strategy for grabbing
the attention of whole societal audiences into society. While on other side, Robert Dyas used
reasonable pricing strategy for staying ahead of their competitors within current market areas.
Furthermore, Argos Limited operates their business through both online and offline mode where
are Robert Dyas performing only in online platforms (Ndofirepi, Farinloye and Mogaji, 2020).
b.) Marketing Plan
Marketing plan is considered as the blue print which is made in respect to planning related
with marketing for specific goods, services or overall brand. Argos is a well known multinational
brand that realises the importance of performing utilisation of marketing strategies for keeping
the consumers involved within market area (Chernev, 2020). Presently, the firm sells products
through their brand name. It implies that organisation do not has own product line. By
considering all these, the management of Argos have decided to launch new product within
market area within their brand name. It is intent at inflating the value of brand into the
consumer’s eyes. So, a marketing plan has been prepared for this intent is described below:
 Organisation overview: Argos is a leading and renowned catalogue retailer which is
operating in Ireland and United Kingdom. Also, it is the subsidiary of Sainsbury’s which
was developed in year 1972. Its headquarters is in Milton Keynes and they have around
883 stores across the world. Along with this they offer above 60,000 product through
online and offline mode.
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 Present firm’s offerings: The Argos firm do not sell goods within their own name.
Rather they sell goods through their brand. The product sold through their brand
involves appliances, skin acre, gadgets, kitchen ware and many more.
 New product overview: Argos self assembles robotics furniture, it is a new product that
will be developed through undertaking due consideration the constraints related with
areas. Moreover, can be compressed as well as thereafter opened for making bountiful
furniture. It allows consumers to facilitate the renovation of its small areas into smarter
one with an ease.
 Mission: The mission of Argos is to become leader into international retail industry
through developing beyond box items.
 Vision: The vision of Argos is to become faithful retailer in which individuals love to
perform and shop.
 Objective: The objective for launching new product is “To maximise profit by 10% within
a year”.
 SWOT analysis: This is considered as the strategic management model which is usually
utilised for intent of screening the internal atmosphere for an entity. Moreover, the
SWOT stands for strengths, weaknesses, opportunities and threats. So, respective
organisation management have performed SWOT analysis in context of new product
launch within market area.
STRENGTHS WEAKNESSES
 The extended brand value as well as
goodwill of organisation within
marketplace will escalate development
of new product within competitive
market.
 Argos have whole means to utilise
advanced technologies into self-
assembles robotics furniture for
enhancing the convenient and comfort
for audiences.
 The Argos only have designs as well
as growth catalogues zone within their
brand name other goods are sold into
distinguish brands.
OPPORTUNITIES THREATS
 The Argos has opportunity to introduce
variety of self- assembles robotic
furniture for developing excitement as
 There are various competitors which
deals into furniture industry that can
come up with similar aspect at low cost
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well as demand into the audiences at
huge extent.
 Respective organisation is a huge
name within marketplace so this may
introduce more such items within
marketplace under their own name.
and thereby outcomes in moving
consumers from respective firm to
other one.
 STP analysis: The Argos management has developed utilisation of strategic structure
which is known as STP for determining potential targeted customers (Ndofirepi,
Farinloye and Mogaji, 2020). Moreover, it includes three key components such as
segmentation, targeting and positioning. All these are described below:
Elements Description
Segmentation The Argos is segmenting its market in respect with demographic
segmentation.
Targeting The particular based upon which targeting will be performed into market
segmentation is social status. So, the Argos will be targeting the middle and
upper class audiences for their new products.
Positioning The strategy of positioning opted through respective firm for their new product
will be social media and print media marketing. Both will facilitate helps to
entity in developing words of mouth advertisement regarding brand as well as
their new goods.
 Marketing Budget: This is considered as anticipation of projected cost for marketing the
firm’s goods or services. The cost with marketing budget will be assigned as per the
campaign as well as media utilised by them while launching new product. So, the budget
will be prepared in respect of new product are given below:
MARKETING BUDGET (in £)
PARTICULARS I Year II Year III Year IV Year V Year
Initial money 4050 7425 12230 14370 20890
Investment 8350 11525 23920 31540 12570
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TOTAL 12400 18950 36180 45910 33460
MARKETING OUTLAY
Promotion 4647 2600 4691 1976 2113
Sales publicity 1366 805 2453 1493 1052
Direct selling 3136 1806 4752 2005 4331
TOTAL 9149 4171 11899 5474 7500
 Monitoring and control: It may be considered as the procedures of tracing the plan
progress as well as thereby undertaking effective actions in case deemed required (Han
and et. al., 2019). In this respect, Argos concerned upon utilisation of techniques like
Key performance indicators and benchmarking for determining the degree to which firm
has been attain their goals through means marketing plan planned at introducing self-
assembles robotics furniture. Furthermore, Key performance indicators assists
respective firm to evaluate the progress of marketing plan towards their objective in
effective and efficient way. Also, the benchmark that is standardized are meeting or not.
In addition to this, they perform sales analysis which helps them to understand their clients
in much effective way and also the reason behind their purchase. Through this, it becomes
simple to analyse its most efficient consumers as well as keep these client involves with
respective business may be key to enhance their profit appropriately.
CONCLUSION
According to the report, this has been concluded that Marketing is essential for all firm as it
is one of the vital processes which assist company to influence huge customer base and also
assure enhance market share holding reflective industrial sector. Moreover, there are various
functional areas which are interrelated with marketing department. Along with this, it has been
summarised that marketing mix aids entity to undertake various kind of strategies by which it
may enhance its share holding. Apart from this, marketing plan is assists firm to perform its
operations in stipulated way at appropriate budget and also helpful in enhancing its profit at
huge extent.
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REFERENCES
Books and Journal
Blythe, J. and Martin, J., 2019. Essentials of marketing. Pearson UK.
Chernev, A., 2020. The marketing plan handbook. Cerebellum Press.
Han, Y. and et. al., 2019. Robust consensus models based on minimum cost with an application
to marketing plan. Journal of Intelligent & Fuzzy Systems. 37(4). pp.5655-5668.
Kumar, A., Shankar, R. and Aljohani, N. R., 2019. A big data driven framework for demand-
driven forecasting with effects of marketing-mix variables. Industrial Marketing
Management.
Ndofirepi, E., Farinloye, T. and Mogaji, E., 2020. Marketing mix in a heterogenous higher
education market: A case of Africa.
Othman, B. and et. al., 2019. The influences of service marketing mix on customer loyalty
towards Umrah travel agents: Evidence from Malaysia. Management Science
Letters. 9(6). pp.865-876.
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