This marketing plan outlines the strategies and activities that Dorothy Perkins will undertake to attract more customers and enhance profitability. It includes an overview of the company, objectives, strategies, and implementation plan.
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Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 Explain role of marketing and how it interrelates with different functional units of the company......................................................................................................................................3 TASK 2............................................................................................................................................6 Compare different methods where usage of elements of marketing mix (7Ps) help in attaining business objectives......................................................................................................................6 TASK 3............................................................................................................................................9 Develop & evaluate a marketing plan.........................................................................................9 CONCLUSION..............................................................................................................................12 REFERENCES..............................................................................................................................13
INTRODUCTION Marketing define as the procedure of developing awareness about the goods and services within the market area so they can enhance their sales as well as profitability of the company. Marketing functions includes different activities which are advertisement, promotion, personal selling and many more. In the present competitive marketplace, every business organisation need to adopt some marketing approaches so they can influence large number of customers towards their organisation which leads to enhance goodwill of the company (Arendt and Allain, 2019). Dorothy Perkins is chosen as the base organisation which was founded in the year 1909 and its headquarter is located in London, UK. It is a multinational women's fashion retailer deals in selling their own range of clothes as well as different branded fashion products (Arslanagic- Kalajdzic, Žabkar and Diamantopoulos, 2019). In the present report, different sections are going to be covered which includes role of marketing function along with interrelationship with other functional units. Apart from this, companies between two companies are included which is based on marketing mix. At the end, marketing plan is developed with the help of which effective decisions will be taken by management team of an organisation. TASK 1 Explain role of marketing and how it interrelates with different functional units of the company. Marketing refers to an effective process which have the aim of ensuring that every person become familiar with products offered by the organisation. For this, it is required by the management team to adopt different promotional strategies so they can retain their loyal customer's for a longer period of time duration. There are various types of marketing concepts adopted by managers ofDorothy Perkins so they can conduct all there business functions effectively. Maketing concepts are going to be discussed as follows:Production Concept:It define as a marketing concept, based on the approach on the basis of which company can easily enhance their supply by minimising their overall cost (Sharma, 2019). This concept is enhanced by each passing time as managers ofDorothy Perkinsare more focused to develop high quality products.Selling Concept:According to this concept, it has been said that the consumers buy all the goods and services of a company if they sold it in aggressive way. Reason behind this
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is that their motive is to sell the goods rather than developing any kind of relationship with their consumers.Product Concept:It is one of the another concept of marketing where managers generally believe that consumer's wants high quality products which as a result increase the cost of products. Furthermore, adding new features into the products result in increasing the price(Zulfikar and Mayvita, 2019).Marketing Concept:It is theconcept where main focus of the organisation is their customer's. For retaining their loyal customer's for longer period of time, it is essential for them to examine their needs and wants so that they can satisfy their desire.SocietalMarketingConcept:Ithasbeensaidthatcompanymainlyusethose methodologies which at the end provide benefits to the society. Their main focus is to develop the whole society in an effective manner. Current and future trends: Current trends: Content Marketing:It is considered as most evident marketing trends, mainly exploited by an organisation in order to indulge customers in an interaction which is about their goods and services.Dorothy Perkinsadopt this, in order to create powerful content so they can maintain positive and strong relationships with their customers. This will assist them in order to retain their consumers for longer duration of time period. Social Media:It is another effective current trend which is commonly used in marketing section. With the help of this method,Dorothy Perkins make its presence on social media platforms such as Instagram, YouTube and Facebook in order to influence customers towards them as well as to create awareness at the marketplace about their offerings(Jones and Rowley, 2011). Future trends: Artificial Intelligence (AI):It is considered as a future trend which is most effective and advanced marketing technique used by management team of the company in near future. With the help of this, data analysis become more easier & beneficial for the company.Dorothy Perkins use this technique in order to enhancecustomer reach towards the organisation(Joshi, 2012). Some of the essential roles & responsibilities ofDorothy Perkinsmarketing functions are going to be discussed as follows:
Market Research:It is the main role of marketing where a research needs to be conducted by management team so that all the current and future trends will be satisfied effectively. In this context, role is to research and identify the best and suitable way to gather information available at the marketplace, whereas responsibility is to examine the need of research and utilise all the gathered information in an effective manner(Pike, 2015). Product Designing:It refers to the method where main emphasis is to develop new designs and add some unique features & characteristics with the help of which large number of people will be attracted towards the organisation. In such cases, role of marketing manager ofDorothy Perkinsis to create the goods and services as per the needs of consumers. Whereas, responsibility is to design in order to gain competitive edge. Marketingfunctionplaysveryessentialroleinanorganisationwheremarketing department of the company is interrelated with different organisational departments. Some of the department of an organisation are going to be discussed as follows:Marketing and Finance:Finance is the backbone of every organisation as all the work is conducted in an effective manner only when there is sufficient amount of money. In reference toDorothy Perkins, it is said that marketing as well as finance department of the organisation is associated with each other (Ahmed and Rafiq, 2013).Financial department of an organisation is concerned with managing funds of the company with the help of which high quality goods and services will be served to customers. For instance, marketing department of a company conduct different types of functions and activities so they can enhance their funds with the help of which goals of the organisation will be accomplished effectively. For this, managers of both the department need to coordinated with each other in an effective manner so they can grow and develop at the competitive marketplace. Marketing and Human Resource department:HR Department of a company mainly works to recruit and hire talented candidate in order to perform all the business function in an effective manner. For this, marketing department provide information to HR manager that what skills and capabilities they need in a candidate in order to fulfil the requirement of job position(Clow and James, 2013). It has been concluded that both the
departments share positive relationship with each other. This will assist them in the overallgrowthanddevelopmentofthecompanyatthecompetitivemarketarea. Marketing department promote vacant position at the competitive area which as a result aid Human Resource manager in order to hire most suitable candidate for the vacant job position. It can be better understand with an example, Human Resource manager of Dorothy Perkins, tookresponsibility to hire new candidate whereas role of marketing section isto promotefor the job position. By such cross functionalrelationship, management team of the company will get effective human resource for the attainment of organisational goals and objectives(Rossi, Allenby and McCulloch, 2012). TASK 2 Compare different methods where usage of elements of marketing mix (7Ps) help in attaining business objectives. BasisDorothy PerkinsZara ProductIt includes all those tangible goods which satisfy the needs and wantsof consumers. In thiscontext,itissaidthat Dorothy Perkins offers women wearbestknownfirtights, lingerie, sleepwear collections andmanymore(Perreault, 2018). Zaraisoneoftheleading luxury fashion company offer range of products to women, menandchildren.Company offertops,jeans,skirts,t- shirts, bags, shoes and many more. Zara offers wide range ofproductsandservicesto their customer's according to theneedsandwantsof customer's. PricePrice of the products offered byDorothyPerkinsis affordable and low as compare to their rival organisation. The pricingstrategyadoptingby It is said that the price offered by Zara are low as compared totheircompetitors.The pricingstrategyadoptedby management team of Zara is
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managementteamofthe companyislowpricing strategywiththehelpof which they can attract large numberofpeopletowards their company. low price with high quality. It hasalsobeensaidthatthe priceofcompanyissetby managers on country specific (Pricilla, 2019). PlaceIf talk about place,Dorothy Perkins provide products and services to their customers in both physical outlets as well as online services. With the help of selling goods through onlineplatform,customers base of the company increases whichassistinraisingthe profitability and reputation at thecompetitivemarketplace (Campbell, Martin and Fabos, 2018). Zaraperformtheirbusiness functionsinmorethan88 countrieswheretheyhave around6500stores.Apart from their physical stores, it has also been identifiedthat the company sale their goods andservicesthroughonline platform.Furthermore,stores arebeinglocatedinposh localitysotheycanattract customers who belongs to high classsocietytowardstheir organisation. This as a result aidtheminenhancingtheir profitability at the competitive marketplace. PromotionIn order to promote products tothecustomer'sat competitivemarketplace, different types of promotional tool is used by management team. By providing discount, couponsandother Zaradoesnotspendmore moneyinordertopromote their goods and services. With thehelpofdifferent promotional tools, managers of the company will be able to influencelargenumberof
promotionaltechniques individualswillbeattracted towardsthecompanywhich increasetheirprofitability ratio. individualstowardstheir organisation.Ithasbeen analysedthatthecompany doesnot preferany kind of flashy campaigns and this is the reason they mainly relay on mouth publicity as well as socialmediaplatformfor promoting goods and services (Kuntonbutr, 2019). ProcessDorothy Perkins is a fashion retailmultinational organisation, works with the main aim of providing high qualityproductstotheir customers. Management team ofthecompanyusehighly advanced technology so that they can reduce any kind of wastagefromthewhole processofmanufacturing (WaiteandPérez-Vega, 2018). Zaraadopthighlyadvanced technologies in order produce highqualitygoodsand services to their customers at themarketplace.Alongwith this, they also provide online deliverytotheirconsumers which help them in retaining their loyal customers towards longer period of time. Physical EvidencePhysical outlets ofDorothy Perkins located between high class society where they can grab attention of large number of individuals towards them. Alongwiththis,physical presenceofthecompanyis Zarahaveamplenumberof physicalstoresacrossthe worldwhichincludes attractive interior. This will aid individualstowardsthe organisationastheyhave highly attractive and hygienic
availableacrossthewhole wide world which assist them in increasing their goodwill. premises(NguyenandWait, 2015). PeopleInthepresentcontextof Dorothy Perkins, managers of theorganisationprovide training&developmentto theirstaffmemberssothey can improve their skills and match up with the changing environmentandneedsof customer's. This as a result aid them in order to raise their productivityaswellas profitability at the competitive marketplace(Uchino, 2018). Zaraprovideemployment opportunities to large number of people and for retain their potential customer's, different strategies need to be adopted by the management team for encouraging them on a regular basis.Alongwiththis, companyprovidebonusand incrementstotheirstaff members if there is rise in their sales and profit margin of the company. TASK 3 Develop & evaluate a marketing plan. A marketing plan is a blueprint mainly outlines the marketing, promotion and advertising efforts of the company for an upcoming year. It describes business function activities includes in attaining marketing objectives within given time frame. Main purpose behind developing marketing plan is to decide by the management team how they will sell their goods and services at the marketplace so they can attract large number of people towards them(Gregg, 2015). In the present context of Dorothy Perkins, managers of the develop a marketing plan which assist them in order to attain their organisational goals in an effective manner. An effective marketing plan for the organisation are going to be developed as follows: Overview
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Dorothy Perkinsis an international women fashion brand which is based in UK, London. Company was founded in the year 1909 under a name H.P. Newman which was changed in the year 1919 to Dorothy Perkins. The company is well known for its sleepwear collection, lingerie, tights and other women collections(Yan and et. al., 2019). For increasing the revenue and for business expansion managers of the company decides to open a new store. This will assist them in attracting new customers towards the business organisation. Mission statement:Dorothy Perkins mission is to provide high quality goods and services to their customer by doing continuous improvement in their plan and strategies. Vision statement:Vision of the company is to provide wide range of stylish clothes which are attractive and multi purpose usage. Marketing objectives: Main objective ofDorothy Perkins is to raise their sales by almost 15% within next 8 months. For this, new products are required to be launch according to the needs and wants of customer's(Kakarot-Handtke, 2015). On the other hand,Dorothy Perkins open its new store with the motive of capturing huge market share within 1 year. STP approach:STP stands for market segment, target, positioning of goods and services.It is a model which is quite useful while developing marketing communication plans as it assist marketers in distributing whole market area into small segmentations. All the three elements of this approach are going to be discussed as follows: Segmentation:It has been analysed that the segmentation process includes four main elements which are demographic, geographic, attitude & behaviour of customers and psychographic. In the present context of Dorothy Perkins which is a fashion retail organisationwheresegmentationisdoneon thebasisof age,genderaswellas psychographic. Company offers women wear as per the needs and requirements of customers so they can retain them for a longer period of time(Hugos, 2018). Targeting:Once segmentation of market and customer is done than it is required by the organisation to target the segmented customers based on their needs and requirements. In this context marketing manager ofDorothy Perkins target those customers who have similar features as compared to segmented individuals.
Positioning:Last stage of STP approach is positioning where it is required by the managers topositions products and services as per the need and wants of targeted customers.It consist of the brand name as well as reputation of organisation positioned in the mind of users.For this, managers of the company decides to launch new stores where they provide goods and services to their targeted customers (Stead and Hastings, 2018). Swot analysis StrengthWeakness Main strength of Dorothy Perkins is that the company have loyal customer baseandstrongreputationatthe competitive marketplace (Solimun and Fernandes, 2018). Another strength of the company is that they move into social media platform in ordertocommunicatewiththeir customers and identify their needs and wants before providing them goods and services. Weakness of Dorothy Perkins is that some of its products have high cost as compared to their rivalry companies. Another weakness is that there is low stock in some departments which affect their whole profitability and goodwill of the company at the marketplace. OpportunitiesThreats Targetingnewandyoungcustomers canbeanopportunityforDorothy Perkinsastheycanexpandtheir businessfunctionsbyadoptingthis strategy. Another opportunity for the company is that they can enter into digital world by selling their products online. This will assist them in enhancing their market Continuous change in requirements of customers might be considered as one ofthebiggestthreatforDorothy (PerkinsChaffey and Ellis-Chadwick, 2019). Another threat which can be faced by DorothyPerkinsisthatnewforeign organisationsareenteringintothe market place which capture their share
share at the competitive marketplace.of market and reduce their profitability. Marketing budget Particulars1styear2ndyear3rdyear4thyear Finance10000500050004000 Initial amount100001000060006000 Total20000150001100010000 Selling outlay15000100030005000 Sales promotion2000200010001000 Direct selling4000300010001000 Advertisement4000100050002000 Total250007000100009000 Monitoring & controlling After the marketing budget of Dorothy Perkins is developed, it is needed by the management team of an organisation to monitor, control and examine all the activity on a continuous basis. With the help of this, managers can easily examine whether the work which is decided is done accordingly or not (Armstrong and et. al., 2018). Main aim behind this is to minimise any kind ofwasteful functions which leads to save resources and money. Therefore, managers of the organisation need to examine all the work in an effective manner on a day to day basis which help them in accomplishing organisational goals and objectives. CONCLUSION With the help of a discussion made above, it is concluded that behind every organisation success, marketing plays very important role. It will assist in developing awareness and promoting goods and services offered by them in an effective manner. With the aid of developing an effective interrelationship between different departments, profitability of the company will be increased at the marketplace(Gilligan and Lowe, 2018). It has also been
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analysed that with the help of marketing tools, needs and requirements of customers can easily be identified and produce goods according to their desire. By developing effective marketing plan, managers of the company will be able to create strategies and policies so they can effectively grow at the competitive marketplace (Hugos, 2018).
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