Marketing Essential Assignment - Victoria secret company

Added on - Nov 2020

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Marketing Essential.
Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
PART A..................................................................................................................................1
PART B..................................................................................................................................6
1) Comparison of marketing mix...........................................................................................6
2) Different tactics applied by organization...........................................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10
INTRODUCTION
Essential of marketing play crucial role in all organisation that helps to prepare effective
strategies for product development, pricing determination also decide designing, labelling and
branding of product and advertisement process so they can provide better goods and services to
their customer and generate profits (Hair and et.al., 2015).
The present report based on Victoria secret company provide products like women's
clothing , underwear, footwear, beauty products etc. this report will include the key roles and
responsibilities of marketing function, marketing in environment of marketing. Marketing plays
significant role in all functional department and critical evaluate of marketing element. This
report includes comparison of marketing mix of two companies and effective tactics apply by
company for achieving the goals. This report also explaining about the effective strategies of
marking plan by using marketing mix.
LO 1
PART A
Definition and marketing concept
Definition of marketing and nature of marketing:it is essential process that comprises
all activities that helps to reach product to final customer. It helps to identify customer
needs and accordingly manager prepare marketing plan for development product and also
used to determine suitable price.
Marketing concept -It is the strategies that used to implement product for satisfy loyal
customer and profits maximization. Victoria secret company adopting various marketing
concept such as production concept, product concept, selling concept, marketing concept
and societal marketing concept that impact on overall activities of the company, so they
can easily achieve the goals and objectives. Secret company use advertisement and
promotional activities by email, television, newspaper etc. This company will be adopted
artificial intelligence for advertisement activities that helps in generating huge profits by
enhancing selling.
Roles of marketing
The structure and operation of marketing department
1
Prepare marketing strategies-Marketing department set effective strategies for improving overall
performance that helps to achieve sales target in particular market sector. Victoria secret can
provide undergarments in wider graphical market (Baker, 2016).
Marketing research-Victoria company research department identify areas where they can
take competitor advantages and opportunities by understanding customer needs. Market research
helps to understand weakness of business and take action for protecting competitors.
Product development-Manager of the company made team that helps to develop new
product and improve existing one. Secret company develop new branded innerwear as per
customer preferences and demand. it helps to enhance selling and create brand image of the
company.
Sales coordination-It is essential role of marketing that helps to coordinate within sales
department which use to improve performance of sales and increase growth of the company.
effective coordination sales helps to achieve sales target that leads to profit maximisation.
Marketing plan- Manager prepare and implement marketing plan that helps to determine
objectives accomplishment with the time frame. it helps to achieve goals and objective by
providing better quality product at a reasonable price, so they can build image and increase
profitability.
Overview of marketing process
Marketing has significant roles and responsibility in Victoria secret company which use to
achieve predetermine targets like sales target, profit target, customer target. Ultimately company
can achieve goals and objective within a specific time period. there are many roles and
responsibilities in organisation these are -
Manage operations of business-Marketing manage operation work for smooth running of
business. marketing helps in increase selling that can helps to determine budget , flow of the cash
so operation work can be improve (Morgan and et. al., 2019). company can enhance efficiency ,
consistency and effectiveness with the help of proper operation work
Developing marketing plan- Marketing can determine customer needs and preference. Manager
can outline marketing plan for develop the new product or redesign the new product and also
understand the brand image needed in the future, so they can maximize the customer base and
increase selling and profitability.
2
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