The Importance of Marketing Mix and Market Essential

This report explores the importance of market essential and marketing mix in business success. It discusses the role of marketing functions, including the 7Ps (product, price, promotion, place, packaging, people, and physical evidence), and highlights their contribution to achieving organizational goals. The report also emphasizes the significance of customer relationship and how it can lead to attracting customers. By understanding these concepts, businesses can develop effective marketing strategies that drive success.

MARKETING ESSENTIAL

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Key roles and responsibility of the marketing function..............................................................1
Roles and responsibility of marketing relate to the organisation ...............................................2
TASK 2 ..........................................................................................................................................3
Different ways company applies marketing mix for achieving marketing objective.................3
TASK 3............................................................................................................................................7
Develop and Evaluation of marketing plan of Zara....................................................................7
TASK 4 ...........................................................................................................................................7
Reflection....................................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing essential means creating , promoting and delivering goods and services to the
customers. As proper marketing will help the organisation to generate sales and maximise the
profit . Zara is the leading retail industry which provide the latest fashionable clothes to the
customers at lower price. These report will cover by the marketing essential which help the
organisation to the large scale. It helps to build the relationship with the customers. Also, it is
explained the rules and responsibility of the market function and also in the context of Zara.
Further it will explain the differentiation between the Zara and H&M by the marketing mix. And
further it will explain the marketing plan which is useful for the Zara.
TASK 1
Key roles and responsibility of the marketing function
This task involves the roles and the responsibility of the marketing function and also in relation
to Zara -
Listening to customer need – The first and foremost function of marketing is to build a
strong relation with the client and also listen to the need and want of the customers and work
accordingly. It is the function of the marketing to plan and study the need of the customers. For
this the zara need to create survey and capture information of the sales team and customers
support (Palmatier, Stern and El-Ansary, , 2016).
Market research – The second function of the marketing is to conduct the market
research and to continuously develop and innovate the product in order to achieve the goals and
also to attract the audience to the large extent and as well as to generate maximum profit of zara.
Monitor competition – The third role of the marketing is to monitor the competition and
also to the company regarding the position in the market. And also by knowing the competitive
one must learn from the competitor and identify the mistake and do the best in order to gain
competitor advantages. And also try to develop and innovate new things so that more customer
will attract towards the products and this will generate sales. It will help the firm to motivate the
employees in order to compete with other zara.
Work and transmit brand value – Brand value is the most important part of the
company for this the company keep on improving the brand image. For this the marketing
department must share the true image of the company. And also do several measures for
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increasing the brand value of the company such as corporate social responsibility is the best
method to increase the brand image of the company and it will help the company to generate the
sales.
Communicate with the rest of the company – Communication is an essential tool of
marketing and it plays there important role in marketing function, to communicate with rest of
Zara in easier manner. So that, it will help to fulfil mission of company and maximise the profit.
Also, is to ensure that all department of the company are properly coordinated with other
departments by good communication between them (Abril and Rodriguez-Cánovas, 2016)
Define strategic plan – The most essential responsibility is to prepare the strategic plan
which is of cost effective and also for the long term bases. For this firm should prepare the plan
that should achieved in the following months and also prepare the strategies. Planning helps the
Zara to achieve the goals of the company (Tungate, 2008).
Helps to improve the sales- It is the responsibility of the marketing to improve the sales
of the company and also to known the need and want of the customers and also to build direct
contact with the customer so that it will help to maximise the sales of zara (Mohammad , 2015).
Roles and responsibility of marketing relate to the organisation
As Zara is the large retail industry and also one of the leading industry and for this the
roles and responsibility of marketing related to Zara is very wide such as Zara has to listen to the
customers such as it need to identify the demand and the need of the customers in order to
achieve profit. For this Zara has to conduct the survey and also take the view point of the
customers regarding what they need and also identify the latest fashion (Palmatier, Stern and El-
Ansary, 2016). The second is Zara has to monitor its competition such as H&M is the biggest
competition of Zara so it is necessary to perform better than H&M in order to achieve strong
position in market as compare to H&M. Zara has to work on the brand value that is it
continuously do efforts to make stronger brand value. The forth function of the marketing is to
improve the sales of the customers and Zara has to do marketing strategy to improve the sales.
And also Zara has to make proper strategic marketing plan and also set objective and also follow
major action to perform the function. Proper planning will help Zara to achieve the goals. The
role of marketing function is to prepare cost effective budget that will help Zara to prepare a
budget with maximise profit. The next function of the marketing is innovation which will help
Zara to keep innovating its products and also applying various methods for the innovation so that
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it fit the wants of the customers and also it will help to updating the stores with the latest fashion.
The next function is to communicate with rest of the company that will help Zara to resolve the
conflict between the department that will help to perform the operation in the better way (Festa
and .et.al., 2016).
TASK 2
Different ways company applies marketing mix for achieving marketing objective.
Marketing Mix is the tools which help the firm to achieve its objective. It is the
combination of 7 factors which can be controlled by the company and it help the organisation to
influence its customers to purchase its products. The 7 P's make up the marketing mix such as -
Product, Price, Place, Promotion, Physical evidence, People, Packaging. In this context
organisation such as Zara and H&M apply marketing mix for achieving the marketing objective
(How to use the 7Ps Marketing Mix2018) .
Marketing Mix elements ZARA H&M
PRICE Zara provides the latest
fashion at lower price and
attract many customers and
also follow low pricing
strategies. And also Zara does
not spend much amount of
money on the advertisement.
Zara has low cost structure as
compare to its competitor.
Zara also set market based
pricing strategy which sets
target market consumers. Zara
also offer discount sales of
50% or more twice in a year.
Zara product price at $45.
H&M offers high quality
price . H&M prices are lower
as compare to other brand due
to the lower cost of
manufacturing and also the
transportation cost by the
H&M which give the company
a competitive advantage. H&m
products prices at $25. And
also it attracts lots of
customers because H&M
provide the lowest prices' of
product and also affordable for
every section of society.
PLACE Zara has its stores in 88
countries with over 6500
H&M sold its product
worldwide in various countries
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outlets. Zara also serves its
products through online which
cover large audience. The
competitive advantage of Zara
is its supply chain. Zara uses
its unique business model to
bring new product and fashion
in the shortest span of time
(Kotler and Armstrong, 2015).
and also has 4135 stores.
H&M has excellent supply
chain. also, H&M provide its
products through franchising
partners and online stores.
PROMOTION Zara spend less amount on
promotion. And also its owner
does not give any interview.
Zara has the unique selling
proposition, as the large
fashion variety are available at
the low price and that the
reason every one prefer Zara.
Zara also has good command
on the social media which is
quite impossible to reach. Zara
has 2.5 million followers on
Facebook and 15 million
followers on Instagram. Zara
also offer various discount to
the customers in twice a year
and this attract the customer to
the large extent. Zara is also
opening new store in different
countries .
H&M uses multi-channel
promotional strategy as its
product has a wide range of
portfolio. It uses various
platform such as TV
advertisement as it comes
which creative ads on its latest
innovative design and also
uses you tube and digital
marketing where it comes up
with unique ad campaigns to
attract the customers and also
by digital marketing it indulges
in search engine marketing and
also H&M have various
corporate social responsibility
such as education, water, and
also in equality.
PRODUCT Zara is the leading fashion H&M is a clothing retail
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store which is famous in all
over the world and offer
product for men, women , and
children. It offers variety of
products such as jeans, top,
pants, T-shirts, bags etc. and
then to of the latest fashion on
low price. Zara is the one
solution for everything as it
offer variety of product that is
in formal or casuals, jeans top
etc. Zara also analyses the
taste and preferences of the
customers and accordingly
make changes in the product
line. Zara 's product are unique
which can be identifies easily
and also the quality of the
products are up to mark which
give Zara a competitive
advantage.
company which offer variety
of product for every segment
of the market with reasonable
rate and for high quality. H&M
include everything from daily
wear from yoga wear , from
formal to casuals . It has a
wide range of products which
are available easily. H&M
known the need and want of
the customers and also update
its store in every weak so that
it never become out fashion.
PEOPLE In every business people are
the main source who run the
business. These are the
company employees without
them the business cannot run
for the long time and cannot
generate success . They
perform the day to day task
also they perform various
function in the organisation,
The employees of H&M are
well trained. Also, the work
culture of the H&M is very
friendly and modern. Every
department is very well
motivated to innovate and also
comes up to the latest clothing
ideas. Also, the employees are
from different background and
also have special skills. Also,
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ensure the supply and also
provide good customer
services which help to build
the strong relation with the
customers. The people have to
be friendly and easily
approachable.
H&M develop its employees to
work in the better way. (West,
Ford and Ibrahim, 2015).
PHYSICAL EVIDENCE It is basically a visual aspect of
the product and services such
as stores. (Ryan, 2016).
H&M stores have great and
humble staff and also with
great ambience. H&M also
diversifying its portfolio into
many countries and have many
stores in different location
PACKAGING Zara packaging is very
attracting as it provide clothes
in variety of boxes which
attract the customers.
Packaging attract the
customers to the large extent .
H&M logo is very attractive .
For the good packaging it must
be properly designed with
proper colour.
TASK 3
Develop and Evaluation of marketing plan of Zara
Covered in PPT
TASK 4
Reflection
Description: When I was researching on this topic, earlier I was not sure about the
marketing concepts but when the group is formed, I feel confident. At initial level, we all did not
know each other but when we start interacting with each other, I realized that our team is best
because each member of our team have their own qualities such that one of them have good
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communication skill, other possess better presentation skills and many more. In this way we all
have our own responsibilities which needs to be fulfilled to make our presentation better and
successful (Lovelock and Patterson, 2015).
Feeling: In my first meeting during the group work, we introduce our self in great way
such that each of the team member was introduced themselves by telling their strength and
weaknesses without any hesitation, this thing impressed me a lot and in the same way we also
delegate the authority as per team members' strength. Such that I have good communication
skills so I choose to present my project during the time of presentation.
Evaluating: I also evaluated that we all contribute our best in group work. During our
first meeting I evaluated that there is some communication gap between our teammates but after
some time when our meeting is held on regular basis I realized that the gap become shorter and
we contributed our best possible way to make our project better than others. For instance, we all
are quite nervous and at that time, we all motivate each other to do our best and at the time of
presenting my topic I somehow forget what to present, in that mean time, my team members
support me and cover up by start speaking related to a topic and when I remembered my topic,
then I start presenting. In this way our contribution during our presentation time is excellent and
the project also help me to raise my leadership skills, communication skills, motivates me and
research skills which will further help me in my future (Alalwan and.et.al., 2017). From this
project, I learned teamwork, raise my research skills, knowledge and communication skills.
Analysing: In this, I analyse that the overall journey of my group work is quite
interesting because I make new friends and I also start developing some skills and also raise my
current knowledge by gaining knowledge related to marketing. But on the other side, I also
analyse that due to our miss- management of time sometimes we face some adverse situation but
soon we also cope with that as well (Baker, 2016)
Conclusion: From the entire group work I realized that we all have contributed our best
way to make the project successful such that I also manage our team's time in order to do the
work in effective way and also learn variety of new words during our research and group
presentation. Apart from this, I have raise my research skills, communication skills, time
management and decision making skills that helps me to conduct my future projects in better
way. In the same way, during the time of presentation we all are quite nervous but at the end we
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present our project in better way, that clearly shows that we all have good collaboration and
learning skills that only makes the project successful.
CONCLUSION
From the entire report it is concluded that market essential is the most important tool in the
business which help the business to obtain what they want by the help of creating and
exchanging the values with others. And also it helps to build strong customer relationship in
order to attract customers. Further, in this report it has concluded the roles and responsibility of
the marketing function and also in relation with the organisation It highlights importance of
marketing mix which help the organisation to achieve the goals by the help of 7 P's such as
place, promotion, packaging, price, product , people, physical evidence. Further more it include
importance of the marketing plan in the organisation (Tuten and Solomon, 2017).
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REFERENCES
Books and Journals
Abril, C. and Rodriguez-Cánovas, B., 2016. Marketing mix effects on private labels brand
equity. European journal of management and business economics.25(3). pp.168-175.
Alalwan, A. A and.et.al., 2017. Social media in marketing: A review and analysis of the existing
literature. Telematics and Informatics.34(7). pp.1177-1190.
Baker, M. J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge.
Festa, G and .et.al., 2016. The (r) evolution of wine marketing mix: From the 4Ps to the
4Es. Journal of Business Research.69(5).pp.1550-1555.
Kotler, P. and Armstrong, G., 2015. Principles of Marketing-Global Edition. Pearson.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Mohammad, H.I., 2015. 7PS marketing mix and retail bank customer satisfaction in northeast
Nigeria. British journal of marketing studies.3(3). pp.71-88.
Palmatier, R., Stern, L. and El-Ansary, A., 2016. Marketing Channel Strategy: Instructor's
Review Copy. Routledge.
Ryan, D., 2016. Understanding digital marketing: marketing strategies for engaging the digital
generation. Kogan Page Publishers.
Tungate, M., 2008. Fashion brands: branding style from Armani to Zara. Kogan Page
Publishers.
Tuten, T. L. and Solomon, M. R., 2017. Social media marketing. Sage.
West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive advantage.
Oxford University Press, USA.
Online
How to use the 7Ps Marketing Mix. 2018. [Online]. Available
through:<https://www.smartinsights.com/marketing-planning/marketing-models>.
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