Marketing Mix and Its Importance

The provided document is an assignment that delves into the concept of marketing mix, a crucial tool for businesses to influence customers. It highlights the significance of each 'P' in the marketing mix, including product, price, promotion, people, process, physical evidence, and place. The assignment also emphasizes the importance of controlling and monitoring new market plans to achieve desired results from new products. References are provided, citing relevant books and journals that support the discussion on marketing mix essentials.

Marketing Essential

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
A). roles and responsibilities of marketing function in the context of an organisation..............1
B). Roles and responsibilities of marketing function:.................................................................2
C) Significance of Interrelationship Between Marketing Department With Other Departments
.....................................................................................................................................................3
D) Analyse and Evaluate Interrelation of Marketing Function With Other Functional Units....4
TASK2.............................................................................................................................................5
1) Comparison of two organisations regarding marketing mix to marketing planning process. 5
2) Evaluation of different tactics applied by organisations to achieve business objectives........8
TASK 3............................................................................................................................................9
1). Evaluation of marketing plan.................................................................................................9
2). 7P's of marketing mix..........................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing is a process of various activities including creation, promotion and distribution
of goods and services from suppliers to customers. Marketing essential is a combination of
different factors such as demand and supply, marketing mix, competition, supply chain etc. It is
important to analyse these factors for sustainable growth and development of an organisation.
Zara is a Spanish fashion retailer industry which was founded in 1975. It offers different
products like jeans, tops, trousers, skirts, T-shirts, bags shoes and accessories etc. It is one of the
most popular and luxury brand in fashion retail industry. This report covers roles and
responsibilities of marketing functions in context of organisation as well as marketing
environment (Askeland and Wright, 2013). It also analyse importance of interrelationship of
marketing department with other functional divisions. Apart from this, the difference between
marketing mix of two organisations are discussed. At last, a basic marketing plan is prepare by
Zara for launching formal clothes as their new product.
TASK 1
A). roles and responsibilities of marketing function in the context of an organisation
Marketing is a process in which an organisation create value for consumers and
established strong relationship with customers in regarding to acquiring value in return from
customers (Marketing, 2018). Marketing is the sat of institutions, and activity of communicating,
exchanging, creating and delivering offerings that have value for clients, society, partners and
customers.
The role of marketing is very important in an organisation. The ZARA company's
survival is depend upon their good and effective marketing efforts (Kennedy and Parsons, 2014).
This function is important for building good relationships between organisation and consumers.
Marketing shapes the image of this company, that how customers are associate the company's
goods and services. This function is responsible for the increasing profits and revenues and
consumers base of the company. There are different roles and responsibility of marketing like
increase the profits of the company, improving loyalty, provide desirable goods and services to
the customers etc.
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B). Roles and responsibilities of marketing function:
It is a main components of the business management which is focus on customers and
satisfy their needs and wants. In the context of ZARA company, Marketing is the main function
of this company which provide various facility like selling, distribution, marketing, generating
profit etc. Marketing is bringing a product in the market in which involve some steps: market
targeting, market research, segmentation, pricing, distribution, developing a promotion strategies
and communication, visioning long-term marketing objectives and budgeting. Art and science is
the keys to successful marketing.
ZARA company should also focus on adopting digital marketing for long term growth in
the market. Now-a-days mostly companies are use social media marketing for advertisement and
selling their products via online services (O'Connor, Sabato and Yanus, 2013). Marketing is also
conduct the research for the product improvement and new product development. It is possible
via identify the consumers needs and marketing demands and according to them product is
manufacturing.
Roles and responsibilities of marketing function:
In the context of ZARA company, there are different roles and responsibilities of
marketing function which are as under:
Financing: This is the main tools of the company. In marketing, finding the fund from
different sources i.e. personal capital, loans, investment etc. for manufacturing and advertising
the products and services. ZARA company provides regular flow of income to pay for business
activities. Marketing concept helps to increasing customers loyalty towards the company's
product which is secure the long-term growth and revenue of the company.
Selling: Selling and marketing are complementary functions. ZARA company sell their
product and services only after analysing the needs and preferences of the consumers. Selling is a
simple concept in which seller and buyer sale and purchase the products and services. Marketing
helps the company to sell their products by using different selling methods and techniques.
Company can sell their product through distributors, wholesalers, retailers and on online base.
Pricing: Price is an important tool in identifying market profitability and success.
Company can face strong price rivalry if the market products have many challengers. In this
condition, company should be maintain low manufacturing and supply cost for selling the
product at lower price and can reduce the competition (Nguyen and Simkin, 2012). This is the
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most challenging feature of marketing. Prices keep variable according to market situation. The
right price comes after only market research.
Promotion: Advertisement and promotion of the goods and services is important to
keeping existing consumers and attracting new consumers. These tactics are increase and
develop the brand awareness of the ZARA company. In promotional activity include many types
of strategy like advertising, online marketing, telemarketing. print media, public relation etc.
which is used by this company. Promotion makes consumers aware towards company and its
product.
Marketing information system: This system is a process of obtaining, using information
that what consumers wants form the company and managing their needs and demands. And they
also improve the decision making and performance of marketing activity (Mitchell, 2012).
ZARA company understand the target audience and their needs, wants and interests. In this
company should obtain the whole marketing information about taste and preference of the
consumers, substitutes of products, pricing of products, rivalry etc.
Research and development: This function is create innovation in their product for
attracting the consumers. Before develop new product, researches are necessary for complete
study of the project. In this phase includes identification of time, cost and specification of
product.
Distribution: Distribution is a process of that where and how consumers can get their
products. ZARA company can distribute their products and services through the internet and
retail outlets.
C) Significance of Interrelationship Between Marketing Department With Other Departments
Market is a place where large number of buyers and sellers are get together to buy or sell
goods and services. Marketing is a process of different activities that include production and
promotional activities like advertising selling etc. marketing is essential for every organisation to
attract customers Marketing refers to set of activities that are performed to attract customers and
influence them to buy products and services with different promotional techniques. Marketing
department of ZARA is interlinked with different departments of a firm and it is important for an
organisation. Significance of interrelationship are as follows:-
Building Trust- Interrelationship of marketing department with other functional units is
very essential to build trust for each other. It enhance accurate, faithful and efficient
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communication among all the departments of ZARA (Collins and Stern, 2012). When every
division giving information to other departments then it should be ensure that information is
reliable and helps to increase organisation's efficiency.
Better Customer Service- When interrelation among departments are strong then it refers
to a proper communication between marketing department with other functional units. It helps to
increase efficiency of customer service. Because when ZARA want to maintain level of customer
service then departments have to share complete information in effective and efficient manner.
Increased Efficiency- Main significance of interrelation between sales department with
other functional unit is to increase efficiency. When all the the departments make coordinate
with marketing division then it improve ability to perform work and exchange information.
Conflict Avoidance- A proper communication and trust reduce conflicts between
departments. It is important for ZARA to make proper relation which improve productivity and
decrease conflicts.
D) Analyse and Evaluate Interrelation of Marketing Function With Other Functional Units
Marketing department of ZARA plays an essential role to increase the sale of a company
and build a brand image by satisfying need of customers. But without help of other departments,
marketing function could not able to satisfy customers need (Cleverley and Cleverley, 2017).
Here analysis and evaluation the interrelation of marketing function with other functional units
are as follows:-
Marketing and Production Department- Important function of production department is
to manufacturing of goods and services by analysing customers needs. There should be a proper
coordination between managers of marketing department and production division of ZARA.
Marketing function analyse demand of consumer and inform to production department to make
product as per customers needs like quality quantity etc. At the time of promotional plan,
marketing and manufacturing departments make strategy to cover maximum area by providing
them quality product.
Marketing and Finance Department- Finance department play an important role to
make planning, organising and controlling of organisation funds. Manager of financial division is
responsible to identify need of funds to other functional units and it provide them finance to
perform their activities properly. In context with ZARA, Selling division perform different
promotional activities such as advertising, online selling etc. these activities need high amount of
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funds (Eslinger, 2014). So, it the responsibility of financial department to profit enough funds to
marketing division to perform their activities and increase sale, which ultimately increase funds
in an organisation.
Marketing and Human Resource Department- There should be a proper coordination
between marketing department with HR department. Because human resource play an important
role to recruit and select right candidate with mandatory skills, qualification and capabilities for a
specific position to achieve organisational objectives in effective and efficient manner.
Marketing department of ZARA needs high skilled employees with unique qualities and
personality which can influence customers to buy goods (Pappas, 2017). Marketing manager
contact with HR manager to fill vacant position in their division. It indicate better
interrelationship between selling and HR department.
Marketing and Research & Development Department- One of the essential role of
research and development department is to gathered information from different sources related to
customers' demand, their taste and preference, income level of consumers, market trends and
competitors strategy. All these information helps to marketing manager to develop strategy
regarding improvement in quality in their products and services, develop promotional strategy to
beat competition. It is very important for sales department of ZARA to make coordination with
R&D section for collecting data regarding to demand of consumers as well as rivalry at
marketplace.
TASK2
1) Comparison of two organisations regarding marketing mix to marketing planning process
Marketing mix is a process of putting a right product at accurate place with exact price
and time. It is a set of action than an organisation used to boost their goods and services as well
as brand image set of action that company uses to promote their product and brand image in the
market.
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(Source: Marketing Mix 7P’s, 2018)
From the above image it can be determined that marketing mix consists of seven
elements that help a marketer to develop marketing strategies. It includes product, place, price,
promotion, process, people and physical evidence (Shahin Sharifi and Rahim Esfidani, 2014).
Zara use these methods to achieve business objectives at the time of strategic planning. A set of
marketing techniques that is essential for Zara to achieve is objectives is known as marketing
mix.
Difference between marketing mix of different organisations:- Zara and Gucci
There are following key differences that two firms uses various styles of marketing mix
to marketing planning process to achieve their objectives.
Basis ZARA GUCCI
Product It is one of the most leading luxury Gucci uses this technique of
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Illustration 1: Marketing Mix 7P’s

fashion brand in the world. famous
fast food restaurant. It offers jeans,
tops, trousers, skirts, T-shirts, bags
shoes and accessories etc. It offers
their customers different options in
formal and casuals. It is an
advantage to gain maximum income
and accomplish objectives.
marketing mix to focus on their
products and services to achieve it
objectives. Gucci offers different
product like handbags, clothes,
shoes, watches, jewellery and
other accessories. It is the top
most fashion brand well known in
the world.
Price Zara use low pricing strategy. It
provide latest fashion products at
low prices as compared to other
international brand (Smith, 2012). It
focus on every income level of
consumers and reduce price of
products by controlling cost.
Price of Gucci products are
depends on work done on clothes
and quality of fabric. Mostly, it
offers high priced products. It
uses price skimming strategy
because its customers are not
affects with high prices because
they get better quality product.
Place Zara uses place and distribution
strategy to cover maximum area.
Zara has 6500 stores in 88 countries
and also sell its product online.
Gucci has more than 500 stores
around the world. It operates its
business in Europe, UK, USA,
Asia, Middle East etc. and also
operate online stores.
Promotion There are few promotional method
used by Zara to enhance their sales
and achieve maximum profit such
as social media marketing. It spend
zero amount on advertisement. It
spend the funds to buy real estate
for opening new stores.
Gucci uses this technique of
marketing mix to increase their
sales. It uses advertising, print and
social media banners, mobile
application etc. These techniques
helps to aware customers about
their products and services.
People There is a large number of
employees who work in Zara in UK.
It include all those person who
concerned directly or indirectly
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Most of stores are owned by the
businessmen. It invest high amount
on training and development of
employees because they contribute
to achieve its objectives.
with Gucci. Employees and
customers support is very
essential for long term sustain of a
firm and achieve objectives.
Process A set of activities which is
performed in order to achieve
something is known as process.
Zara perform different activities
from fabrication of clothes and
other accessories to deliver it to
potential consumer.
This is a technique that provide
ideas about services which are
useful for consumers (Smith,
2014). If it knowledgable then it
helps in achieving organisational
objectives.
Physical Evidence It refers to the atmospheric
environment and experience of
consumers in Zara stores. Zara
provide quality products which
attract customers and make positive
impact on its marketing strategy.
Every Gucci stores are uniquely
designed and have standard
interior and services given by
employees make their customers
feel more special and happy.
2) Evaluation of different tactics applied by organisations to achieve business objectives
Tactics refers to the short term strategy which take advantage for short time period and
helps to achieve organisational goals and objectives (Wang, Chen and Chen, 2016). There are
different types of tactics which helps to get success of a firm such as product, pricing, marketing,
operational and financial strategy. Zara uses product and pricing strategy to achieve its
objectives.
Product strategy- In this tactic Zara offers buy one get one offer or voucher coupon
offers to increase their sales and earn more profit.
Pricing Strategy- In this technique Zara give discount offer to their customers on special
occasions like Christmas, new year and in off seasons. It helps to increase sales as well as
profitability.
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TASK 3
1). Evaluation of marketing plan
In marketing plan include overview of the company, mission and vision, strategic
objectives, swot analysis, marketing budget, monitoring and controlling.
Overview of the company: ZARA company deals in retail sector. It was founded in 1975
by Rosalia Mera and Amancio Ortega. Its headquarters situated in Arteixo, Spain. This company
generate revenue $9 billion annually. It has 7475 stores on world wide. This company serve
products mainly in clothes of men's and women's. Zara's main priorities is bringing responsible
and attractive fashion and improve the quality of consumer service (Wieser, 2012). Zara has its
core value which simple described in four words i.e. clarity, sustainability, beauty and
functionality. Its designers are highly respond to changing needs of market and according to that
reacting to the latest changes and received feedback from its consumer's about men and women
clothes. They deliver the new and creative ideas at the right moment and place.
Mission and vision: Zara company's Mission is satisfying the needs and desires of their
consumers. They continuously innovating their company's product for improving the experience.
Its vision is give an exclusive choice of fashion to its customers by providing them a faster
turnover of brand-new stock than another fashion retailers.
Objectives: Zara's main objective is to contribute in the sustainable development of
environment and society with which they interact. They want to increase profit in 10 months by
8% through launching new product i.e. formal clothes.
Segmentation: This new formal clothes is based on age group or demographic. It is
available for both men and women.
Targeting: This new product of clothes is target the corporate sector's people who wear
formal in corporate sector and office.
Positioning: It is used value-based positioning scheme means providing attractive and
quality product to the customers.
SWOT analysis: In this analysis include strength, weakness, opportunities and threats of
the ZARA company. It describe that how they can beat their competitors and take advantages.
Strength Weakness
Unique designs- This company's clothes have Lack of advertising- this is the main weakness
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fantastic finishing, super and elegant quality.
They have a lot of varieties including men's
wear , kids and woman's wear, party wear etc.
Brand value- its consistent quality and
performance over the years has improve the
brand name in recent years.
of this company because they do not invest in
advertisement. They can double their profit by
creating advertisement.
Generalised collection- This company does not
deal in any specialise thing. Sometimes
customers shifts on other brand because
challengers is focused on one thing.
Opportunities Threats
E-commerce(online)- This company can take
advantage form online selling. They create
advertisement on social media and E-
commerce.
Market expansion- They can also expand their
business in other countries and maximise their
profits. This company needs to concentrate on
emerging markets where spending power is
increase.
Competition- Zara is not only a company
which is known for smart design. But other
brands like H&m, Vero Moda etc. also selling
chic designs. So, this company needs to sale
their product at a reasonable cost for
decreasing competition.
Marketing Budget:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 6500 9500 13000 15500 20500
Investment 12000 23500 30000 9500
Total 6500 21500 36500 45500 30000
Marketing outlay
Promotion 6500 1100 3300 2300 5900
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Sales publicity 2000 1800 2800 3200 1500
Direct selling 3500 1200 5600 3500 5500
Total 12000 4100 11700 8000 12900
Monitoring and controlling: After above activities, managers of Zara company
measuring all performance and activities of their employees. In measuring and controlling
process involve track, review and determining in which modification in the ideas are essential
and initiate the related alteration and coordinate the progress. They measure the level of
consumers satisfaction and maintain the brand loyalty (Wirtz, Lovelock and Chatterjee, 2013).
This company also control the marketing plan for achieving better and effective outcomes. Here
are some people who control the market plan i.e. sales managers, market research department,
media and product manager etc.
2). 7P's of marketing mix
Zara use 7P'S of marketing mix in which include product, price, place, promotion,
people, process and physical evidence.
Product: It is offers different types of products in clothes i.e. party wear. Kids wear,
men's and woman's wear etc.
Price: Zara adopt low pricing strategy in the market.
Place: It distributes its products to all over the world and have many stores where
products are available for customers.
Promotion: This company invest 0% in its promotion. Only use social media for
advertising.
People: Its key people are managers, employees, customers, suppliers, retailers etc.
Process: process is an activity in which include manufacturing process, product
delivering process etc.
Physical evidence: In this include location of the service, environment and attractiveness
of the area where services are provided.
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CONCLUSION
From the above report, it is concluded that roles and responsibilities of marketing
functions are very effective for company's growth because they analysis the whole market sector
like: their competitors, customers taste and preference, price etc. which are helps to the
organisation for achieving desire targets. In this consist that all the departments are very
important for any business because only marketing department can't gives effective results
without help of other departments. 7P's of marketing mix is evaluate the business activities and
searching the right channel for marketing in order to influence the customers. Zara company
control and monitor their new market plan for achieving the best result from the new product.
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REFERENCES
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