Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 Key roles and responsibilities of marketing function.............................................................1 Explaining roles and responsibilities of marketing related to wider organisational context..3 TASK 2............................................................................................................................................4 Comparing the ways in which Ben Sherman and Apple Inc. apply the marketing mix to the marketing planning process to achieve business objectives...................................................4 TASK 3............................................................................................................................................8 Producing and evaluating marketing plan..............................................................................8 CONCLUSION................................................................................................................................8 REFERENCES................................................................................................................................9
INTRODUCTION The world of marketing is becoming more and more focused on directly connecting with customers and company aims to make the marketing experience more personal. The term marketing refers to an activity of the organisation that is concentrated on marketing the products and services effectively in the marketplace. Essential of marketing are important to understand by an industry in order to build good relationship with consumers. The study of Marketing essential is based on Ben Sherman a lifestyle brand that recognised globally. The business has began in quality shirts in 1963 and expanded in 35 more countries (Ben Sherman,2019). The study will evaluate role and responsibilities of marketing function and assess that how it interrelates with other functional unit of an organisation. Furthermore, the report will compare various ways in which different organisations; Ben Sherman and Apple Inc. use elements of the marketing mix to achieve overall business objectives by applying this in the marketing planning. Lastly the study will develop and evaluate a basic marketing plan for the new product of Apple Inc. TASK 1 Key roles and responsibilities of marketing function Definition of Marketing and its importance Marketing can be defined as an activity that undertakes by the industryto promote the purchasing and selling of goods and services. According to the Charted Institute of Marketing UK defines the term as; “Marketing is the management process responsible for identifying, anticipating and satisfying customer requirement profitability” (Baker, 2016). For sustainable growth and development and to build recognise image worldwide, various marketing techniques utilise by Ben Sherman. The marketing process enable company to create value for their consumers. It also help the industry to understand the marketplace and gaining knowledge regarding consumer's need and managing marketing information. Definition of marketing function Marketing function is a role of marketing that assist organisation to identify and source potential successful products in the marketplace. In order to let the marketing bridge work effectively and providing consumers opportunities to buy goods and services as per their need, the process of marketing must accomplish functions (Blythe and Martin, 2019). 1
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The function of marketing includes various responsibilities of the business organisation these functions are responsible for further growth and development of the company. There are various functions such as; market research, product development, distribution, promotion, finance, selling, marketing, etc. Market research The very primary function of marketing in Ben Sherman is to identify the market needs as well as consumer's need, want and demand. The market research includes understanding the market opportunity as well as strength and weakness of the industry (Goworek, McGoldrick and McGoldrick, 2015). The information regarding market further utilise by the industry in market segmentation. The marketing manager of Ben Sherman carries out the market research to gain clear understanding of what the consumer of lifestyle sector really wants. For that purpose, the marketer conducts questionnaire as well as analyse the buying behaviour of the potential consumers. 2 Illustration1: Functions of Marketing
Product designing and development Product development and designing help the industry to make the product more attractive to target the market. In the competitive market, companies are require to not only focus on cost matters but also on product design, suitability, shape and style (Ryan, 2016). The role of marketer of Ben Sherman to develop the products and service in an attractive manner that enable industry to attract more and more consumers. Promotion This is the foremost function of marketing. Promotion refers to informing consumers regarding the products of the organisation and influencing them to make purchase. There are four main methods of promotion; sales promotion, advertising, personal selling and publicity. Every decision by the marketer of Ben Sherman in this respect affects the sales of the industry. Along with it, marketing manager take decisions keeping in view the budget of the industry. Ben Sherman take decisions on the basis of its marketing mix. Distribution Under this unction of marketing, marketer of Ben Sherman focuses on making decisions regarding carrying products from the place of manufacturing to the place of consumption. This function emphasise on four factors; Inventory, transportation, warehousing and order processing. Here the organisation is require to select the correct distribution channel for all of its product. Explaining roles and responsibilities of marketing related to wider organisational context Marketing is an essential part of the industry that enable them to promote their products and services. The organisation structure of Ben Sherman categorised in various department that include; finance, Human Resource, Marketing, Customer services, etc. The marketing also relates directly or indirectly to the other functional department of Ben Sherman (Baker, 2016). Marketing and Human Resource Department Both the department of Ben Sherman work closely with each other. For example; HR department recruit and select in order to fill the vacant position in the marketing department with the best skilled and talented candidate and in opposed, marketing department promote the vacant position in the industry and influence people to apply for the interview. Along with it, HR department ensure that the necessary resources with the potential skill and talent are in proper place to meet the objective (Blythe and Martin, 2019). Marketing and Finance Department 3
Both the department are depends on each other in order to effectively work in their own area. The marketing department of Ben Sherman requires to work with the finance department in order to ensure that there is enough budget for doing various marketing activities such as; advertisement, research and distribution (Baker, 2016). On the other hand, the cash flow within the finance department of the industry raise and continue by effective marketing of the products and services to attract consumers and enhance the sales. Marketing and Production Department Production and marketing department of Ben Sherman are require to work with each other. The marketing department gathers information regarding the needs of consumers and also conduct survey to understand the quality, valuably of the products (Barker and Richardson, 2015). Hence, the report of the survey transferred to the production department in order to develop what people are demanding as per their price point. The marketing department. Marketing department requires working with production department for analysing and knowing the volume and orders which is made and generated by marketing in order to provide goods on timetocustomers.Marketersrequiregettingproductsintomarket,whereasproduction department wants to develop products in order to meet safety and healthy requirements (Goworek, McGoldrick and McGoldrick, 2015). The interrelation is necessary as it enable manager of Ben Sherman to maximise the profits as all units interact and interrelated with each other. Along with it, it also helps to develop environment of cross functional activity. The interrelation result in more effective execution of the functions, high productivity and innovation (Ryan, 2016). It also improve the performance of brand. TASK 2 Comparing the ways in which Ben Sherman and Apple Inc. apply the marketing mix to the marketing planning process to achieve business objectives Business objectives refers to measurable and specific ends. They are acknowledgeable goals towards which all the business activities are directed. Establishing objectives and goals is important for the Ben Sherman and Apple both the industry as it provide basis for all the managerial functions in the organisation (Blythe and Martin, 2019). Organisational objectives render standards of performance against which actual performance is measured. 4
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Comparison of Marketing mix Marketing mix is an essential part in the marketing planning process that enable company to achieve the organisational goals and objectives. Marketing mix refers to the set of marketing tool that utilise by companies to pursue its marketing goals in the target market. Thus, the marketing mix is mean to 7 broad level of marketing decision namely, product, price, place, promotion, people, physical evidence and process (Folinas and Fotiadis, 2017). Base for comparisonBen ShermanApple Inc. ProductBen Sherman is a well known clothing brand. The products include; sports wear, sweaters, shirts,shoes,outerwearand accessories predominantly for men. The products of Apple known for the innovation. They offer a wide range of products for the consumers such as; Mac, iPhone,iPod,AppleWatch, AppleTV,Softwareand services such as, apps, music, etc. PriceTheindustryisusingcost basedpricingstrategywhere theirsellingpriceissetto cover the manufacturing cost. Along with it, Ben Sherman alsofollowmarketoriented pricingstrategy.Theprice range of the products is mostly high to premium that targets celebritiesandhighincome people. Thepricingstrategyofthe industryismostlybasedon premium pricing strategy for theirinnovativetechnology, clutter breaking design of the productsandhighquality products. Along with it, price skimmingandgeographical pricingalsoconsiderbefore settingthepriceofthe productsandservices (Goworek,McGoldrick,and 5
McGoldrick, 2015). PlaceThe distribution channel is not so wide of the industry as the products are available at the Ben Sherman online store as wellastheyalsoselltheir products through other online stores and have their collection in other offline store. The distribution channel of the organisationisdiverse.The productsdistributedthrough their own retail store to offline andonlinechannels.Apart from it, the products are also make available at other online retail stores and in the local markets. PromotionForpromotingtheproducts, BenShermanusevarious promotionaltoolsand techniques such as; advertising through traditional channel and modernchannel,digital marketing,printmediavia catalogue,fashionmagazine andposter(Harmeling, Moffett and Palmatier, 2018). Thecompanyalsouseboth below-the-line and above-the- line promotional tool. Apple promote the brand in the marketplace as premium brand that delivers premium value to itsconsumers.Theindustry followconventionaland unconventionaltechniqueto market the brand. Along with, theproductsismarketed throughitsofficialwebsite, socialmedia,televisionand print media. PeopleThe organisation is concerned withthesatisfactionofthe people to the industry such as; consumer,employeesand other stakeholders. The brand is premium and exclusive, thus there are 265 employees work The staff is highly trained to do their job effectively. Apple well understand the need, want and demand of the consumers indetailtodeliverthebest consumerserviceandcreate strongvalueproposition 6
withthecompany.Forthe employees, industry creates a positiveandcreative environmentthatpromote innovation amongst the staff. (Rancati,Gordiniand Capatina, 2016). Thecompanyhaveeffective technicalsupportteamand promotes an engaging, relaxed and fun culture for the staff and consumers. ProcessBen Sherman make sure that itsproductsarealways availableatthestores.The company has online delivery process,whereordersare receivedinthecomputer system,thustherelevant product shipped. The process is free from any complexity, consumercandirectlyorder from its online store. Apple Inc. is known or their simplicity of the products and havemanufacturingplant across the world. Bothin-storeandonline deliveryisavailableforthe consumers. The supply chain management of Apple include; consumer comes first, simplify the products and processes and enhance relationship. Physical EvidenceThe website presentation looks luxurious and attractive as well as it is user-friendly that allow consumers to make purchase easily. The images of products are taken from various angles inhighqualityandpresent withspecificprices(Ryan, 2016). The physical evidence of the company'sproductsare attractive and seems luxurious that attract or influence people. The retail store of the industry and uniform of the staff also deliver a sense of premium and the website presentation is also attractive with less words and moreartthatappealstoits premium consumers. 7
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Application of marketing mix Both the company implement their marketing mix to the planning process that help the companies to achieve the organisational objective. The product strategy help in evaluating the existing product of Ben Sherman and provide an understand of the new trend and demand of consumers that help the industry to enhance their market share and sales. The promotional strategy of Ben Sherman helps the industry to attract more and more consumers towards the products and services (Sajid, 2016). The goal of promotion is to obtain and retain consumers. Thus above-the-line and below-the-line strategy help them to effectively retain the potential consumers in the marketplace. The distribution strategy and channel ensure that the products availability is sufficient that consumers do not have to wait to feel sad. The website of Ben Sherman make the process more easy and effective where they can achieve the objective in cost- effective manner. The effective distribution strategy also enable company to build brand philosophyand valueinthemarketplace. The planningprocessofcompany focuseson enhancing the product reach, satisfying consumers need, etc. The proper implementation of marketing mix in the planning process help the company to gain competitive advantages as well as extend their market share. Thus, marketing mix applies in mostly all the activity in planning process from developing new product, set price for the product, channel selection for distribution and enhance awareness through effective promotion. The marketing mix help the industry to resolve the issues regarding marketing of the products and attaining the consumers. It also enable the sustainable growth of the industry (Stern and Porr, 2017). TASK 3 Producing and evaluating marketing plan Covered in PPT CONCLUSION From the present study it has been analysed that marketing is an crucial element in the industry that plays various function in the organisation from market research, promotion and distribution, after sales services, etc. Furthermore, the marketing department of Ben Sherman is require to coordinate and work with other department of the company to effectively achieve the desired outcome. The interrelationship between various departments have positive as well as negative effect on the industry. Comparison between Ben Sherman and Apple Inc. stated that the 8
strategies differ from each other to achieve their own organisational objective. The final objective of both company is to fulfil the consumer's need. 9