Elements of Marketing Functions and Interrelationship with Other Units
VerifiedAdded on 2023/01/11
|17
|4556
|34
AI Summary
This assignment explains the key elements of marketing functions and their interrelationship with other functional units. It also sheds light on the responsibilities and roles of the marketing function within a chosen company.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
MARKETING ESSENTIALS
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Elements of marketing functions and its interrelationship with other functional units..............3
Responsibilities and roles of marketing function........................................................................5
TASK 2............................................................................................................................................6
Several tactics used by companies to identify that business objectives can be achieved...........6
TASK 3..........................................................................................................................................10
Strategic marketing plan...........................................................................................................10
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Elements of marketing functions and its interrelationship with other functional units..............3
Responsibilities and roles of marketing function........................................................................5
TASK 2............................................................................................................................................6
Several tactics used by companies to identify that business objectives can be achieved...........6
TASK 3..........................................................................................................................................10
Strategic marketing plan...........................................................................................................10
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16
INTRODUCTION
In the context of business unit, marketing is one of the most essential function of
companies it makes them able to reach at target market and gain their attention towards purchase.
Mostly publicity, promotions, advertising and sales techniques are considered as marketing. It
also considers as key elements of business success & growth that provide many benefits to any
company in term of increasing productivity and profitability. The current study is based on
ASDA, which falls under the category of the best and leading British supermarket retailer in the
UK. They cater quality products and services to millions of consumers across United Kingdom
which is quite beneficial for them.
This assignment will explain key elements of marketing function and their connection
with other functional units. Besides this, it will also shed light on the key roles & accountabilities
to marketing function within chosen company. It will evaluate varied tactics applied by firms for
business purpose by using 7Ps of marketing mix. Furthermore, this study will also exhibit
strategic marketing plan in context of company.
TASK 1
Elements of marketing functions and its interrelationship with other functional units
Marketing is important function of ASDA which aid in advertising its products and
services within specific marketplace to gain the attention of buyers who seek to purchase quality
items (Kunle, Akanbi and Ismail, 2017). Market research, prices setting and developing
advertisement strategies are considered as key components of marketing function that play vital
role in context of product promotion in market.
Market research-
Marketing department conduct research that is really very important for company. It
helps to identify the needs of consumers and allow gathering more data about their buying
behaviour which can be used by marketing team to create their strategies accordingly (Kozinets,
Scaraboto and Parmentier, 2018). It makes everything easy for them to launch product and drive
people towards buying it which in return increase sales rather than before. It can be said that on
the basis of conducted investigation marketing department and its team members gather
informative data about current market trends and demands which will be implemented in
manufacture function for better services or items development.
Product development-
In the context of business unit, marketing is one of the most essential function of
companies it makes them able to reach at target market and gain their attention towards purchase.
Mostly publicity, promotions, advertising and sales techniques are considered as marketing. It
also considers as key elements of business success & growth that provide many benefits to any
company in term of increasing productivity and profitability. The current study is based on
ASDA, which falls under the category of the best and leading British supermarket retailer in the
UK. They cater quality products and services to millions of consumers across United Kingdom
which is quite beneficial for them.
This assignment will explain key elements of marketing function and their connection
with other functional units. Besides this, it will also shed light on the key roles & accountabilities
to marketing function within chosen company. It will evaluate varied tactics applied by firms for
business purpose by using 7Ps of marketing mix. Furthermore, this study will also exhibit
strategic marketing plan in context of company.
TASK 1
Elements of marketing functions and its interrelationship with other functional units
Marketing is important function of ASDA which aid in advertising its products and
services within specific marketplace to gain the attention of buyers who seek to purchase quality
items (Kunle, Akanbi and Ismail, 2017). Market research, prices setting and developing
advertisement strategies are considered as key components of marketing function that play vital
role in context of product promotion in market.
Market research-
Marketing department conduct research that is really very important for company. It
helps to identify the needs of consumers and allow gathering more data about their buying
behaviour which can be used by marketing team to create their strategies accordingly (Kozinets,
Scaraboto and Parmentier, 2018). It makes everything easy for them to launch product and drive
people towards buying it which in return increase sales rather than before. It can be said that on
the basis of conducted investigation marketing department and its team members gather
informative data about current market trends and demands which will be implemented in
manufacture function for better services or items development.
Product development-
Another element of ASDA marketing function is product development, it considers as
product management. Workers within this department focus on goods design, they want to give
unique look that capture eye of individual within marketing (Homburg and et.al., 2017). It
evaluates that by providing specific or different design to items and focus on their packaging
marketing department can effectively increase sales rather than past few years and also build
brand image in effective manner. By using appropriate strategies and tools employees within this
department develop the best marketing concept that help to react at specific group of people.
Interrelation with other departments-
There are many departments accessible within ASDA who are able to provide many
benefits of company. They aid to improve quality of groceries and other items offered by firm,
satisfy needs of consumers, manage budgets and solve issues at workplace in systematic manner
which is very important (Opute and Madichie, 2017). It can be said that after conducting in depth
research about target market wants and desires marketing department then communicate with
production team who are accountable to produce things.
Marketing with production department-
Marketing units provide all information to manufacture department which they can use
while manufacturing products and then deliver final product in market which in return increase
sales of ASDA rather than its competitors. The best thing of above mentioned element is that
they connect with each other. Market investigation aid research &b development group in
identifying requirement of customers so that important modifications can be done in production
procedure and firm can produce high quality things for their buyers.
Marketing with research & development-
Both departments work together to achieve common aim and objectives of ASDA and
increasing profitability. Marketing team after collecting overall data coordinate with R&D
section to discuss possible improvement and changes within products quality as well as design to
produce it according consumers needs which in return help firm to retain their buyers for longer
period.
Marketing with HRM-
Coordination and connection between these departments can be beneficial in every term
as it help to increase productivity and performance of company by hiring more applicants.
product management. Workers within this department focus on goods design, they want to give
unique look that capture eye of individual within marketing (Homburg and et.al., 2017). It
evaluates that by providing specific or different design to items and focus on their packaging
marketing department can effectively increase sales rather than past few years and also build
brand image in effective manner. By using appropriate strategies and tools employees within this
department develop the best marketing concept that help to react at specific group of people.
Interrelation with other departments-
There are many departments accessible within ASDA who are able to provide many
benefits of company. They aid to improve quality of groceries and other items offered by firm,
satisfy needs of consumers, manage budgets and solve issues at workplace in systematic manner
which is very important (Opute and Madichie, 2017). It can be said that after conducting in depth
research about target market wants and desires marketing department then communicate with
production team who are accountable to produce things.
Marketing with production department-
Marketing units provide all information to manufacture department which they can use
while manufacturing products and then deliver final product in market which in return increase
sales of ASDA rather than its competitors. The best thing of above mentioned element is that
they connect with each other. Market investigation aid research &b development group in
identifying requirement of customers so that important modifications can be done in production
procedure and firm can produce high quality things for their buyers.
Marketing with research & development-
Both departments work together to achieve common aim and objectives of ASDA and
increasing profitability. Marketing team after collecting overall data coordinate with R&D
section to discuss possible improvement and changes within products quality as well as design to
produce it according consumers needs which in return help firm to retain their buyers for longer
period.
Marketing with HRM-
Coordination and connection between these departments can be beneficial in every term
as it help to increase productivity and performance of company by hiring more applicants.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Marketing manager provide list for hiring workers who are able to contribute in each act with
full of concentration.
Responsibilities and roles of marketing function
Marketing refer to procedure of selling and purchasing products or services of ASDA
which help firm in achieving their objectives and aim as well. This process is managed by
marketing department that play essential role within company. Following roles are mentioned
below-
Roles-
Market segmentation-
First role of marketing team is to segment and divide target market according to their
needs for specific product of ASDA (Knuth and et.al., 2019). They find some areas that is
beneficial for company in term of increasing sales. For sustaining in competitive market, it is
extremely important for manager of this department to determine how are their target consumers.
It allows workers to produce items accordingly and then deliver in effective manner which is
quite beneficial.
Establish relationship-
Another role of this function is to build strong and trust worthy relation with buyers by
satisfying their needs through offer product that are valuable for them. ASDA gain many
advantages by producing groceries, food and other products according to market needs.
Marketing department and its team members work a allot to build connection with target
consumers as they introduce items in market where millions of people are able to purchase in
exchange for money (Felix, Rauschnabel and Hinsch, 2017 ).
Develop marketing strategies –
The most important role of marketing team is to develop the best and effective marketing
strategies that is highly beneficial for ASDA. After getting and collecting all information about
the latest trends and needs of market marketing department and its group members develop
product promotion strategy by using the most effective tool available in business world
(Armstrong and et.al., 2018). It has become very significant for manager of this function to keep
knowledge about varied promotional methods so that it can launch products in cost effective
manner.
Accountabilities
full of concentration.
Responsibilities and roles of marketing function
Marketing refer to procedure of selling and purchasing products or services of ASDA
which help firm in achieving their objectives and aim as well. This process is managed by
marketing department that play essential role within company. Following roles are mentioned
below-
Roles-
Market segmentation-
First role of marketing team is to segment and divide target market according to their
needs for specific product of ASDA (Knuth and et.al., 2019). They find some areas that is
beneficial for company in term of increasing sales. For sustaining in competitive market, it is
extremely important for manager of this department to determine how are their target consumers.
It allows workers to produce items accordingly and then deliver in effective manner which is
quite beneficial.
Establish relationship-
Another role of this function is to build strong and trust worthy relation with buyers by
satisfying their needs through offer product that are valuable for them. ASDA gain many
advantages by producing groceries, food and other products according to market needs.
Marketing department and its team members work a allot to build connection with target
consumers as they introduce items in market where millions of people are able to purchase in
exchange for money (Felix, Rauschnabel and Hinsch, 2017 ).
Develop marketing strategies –
The most important role of marketing team is to develop the best and effective marketing
strategies that is highly beneficial for ASDA. After getting and collecting all information about
the latest trends and needs of market marketing department and its group members develop
product promotion strategy by using the most effective tool available in business world
(Armstrong and et.al., 2018). It has become very significant for manager of this function to keep
knowledge about varied promotional methods so that it can launch products in cost effective
manner.
Accountabilities
Market research-
Marketing department of ASDA is accountable for many activities and actions which are
important for long term growth as well as success of business. For instance, team of this function
is responsible for market research and analysis (Othman and Hafez, 2019). To survive in
competitive market, manager has to be well aware of actual buyers needs and trends in market.
With market investigation applicants in marketing department can do so which is quite beneficial
for them as it makes them able to gain essential knowledge about buyers wants.
Production development-
Along with above accountability marketing department also accomplish another one and
that is development of product (Bai and et.al., 2017). On the basis in depth market research
marketing team and its manager has to improve production procedure of ASDA so that they can
manufacture a high quality goods in cost effective manner. This function is accountable to
determine market trends and implement them in existing products function so that firm can cater
quality things to target consumers at affordable prices.
Brand management-
Marketing department fulfils its every responsibility in effective as well as systematic
manner. By managing brand image within UK and across nation marketing functions help ASDA
to survive for long within intense competitive market (Iyer and et.al., 2020). By using
appropriate methods marketing manager manage and increase brand equity in target market that
is beneficial for company in term of increasing consumers base, profit margin and sales more
than its competitors like TESCO.
TASK 2
Several tactics used by companies to identify that business objectives can be achieved
Marketing mix refers to set of strategies, methods or actions that a firm uses to promote
their brand or goods in market. It also considers as tool used for considering varied elements that
go into advertising specific product or service. It provides wide guidelines for putting appropriate
items in right place, at right price and time. It aids companies to define their marketing options in
terms of product, price, place, people, promotion, process and physical evidence so that firms
offering meets a particular buyer demand or need.
Here, 7Ps of marketing mix model is used in context of ASDA and TESCO to
demonstrate how they both achieved their objectives by using different tactics.
Marketing department of ASDA is accountable for many activities and actions which are
important for long term growth as well as success of business. For instance, team of this function
is responsible for market research and analysis (Othman and Hafez, 2019). To survive in
competitive market, manager has to be well aware of actual buyers needs and trends in market.
With market investigation applicants in marketing department can do so which is quite beneficial
for them as it makes them able to gain essential knowledge about buyers wants.
Production development-
Along with above accountability marketing department also accomplish another one and
that is development of product (Bai and et.al., 2017). On the basis in depth market research
marketing team and its manager has to improve production procedure of ASDA so that they can
manufacture a high quality goods in cost effective manner. This function is accountable to
determine market trends and implement them in existing products function so that firm can cater
quality things to target consumers at affordable prices.
Brand management-
Marketing department fulfils its every responsibility in effective as well as systematic
manner. By managing brand image within UK and across nation marketing functions help ASDA
to survive for long within intense competitive market (Iyer and et.al., 2020). By using
appropriate methods marketing manager manage and increase brand equity in target market that
is beneficial for company in term of increasing consumers base, profit margin and sales more
than its competitors like TESCO.
TASK 2
Several tactics used by companies to identify that business objectives can be achieved
Marketing mix refers to set of strategies, methods or actions that a firm uses to promote
their brand or goods in market. It also considers as tool used for considering varied elements that
go into advertising specific product or service. It provides wide guidelines for putting appropriate
items in right place, at right price and time. It aids companies to define their marketing options in
terms of product, price, place, people, promotion, process and physical evidence so that firms
offering meets a particular buyer demand or need.
Here, 7Ps of marketing mix model is used in context of ASDA and TESCO to
demonstrate how they both achieved their objectives by using different tactics.
Basis of comparison ASDA TESCO
Product This company is able to
provide wide variety of goods
including clothing,
entertainment products,
groceries and fresh food items
to consumers by focusing of its
quality (McPherson and et.al.,
2019). Firm want to establish
their positive brand image
within market place. It is the
main objective of company
which they gain by offering
quality goods in different
categories. They also provide
travel insurance, personal
loans and travel money to
people that help to achieve its
objective in effective manner.
As compare to ASDA, TESCO
use better tactics to achieve
their set aims and objectives
that is to retain consumers,
satisfy their needs and become
market leader at global level.
Along with wider categories of
items including clothing,
stationary and electronics they
also offer cosmetics products
to consumer according to their
skin type. It helps to drive
attention of local people and
other who visit outlets during
travel journey.
Price To gain attention of new
consumers and retain potential
buyers ASDA marketing
department set affordable cost
for each item. They use low
pricing strategy that help firm
to retain consumers for long
which in turn increase sales
and profitability of company
rather than its competitors. By
using this strategy firm is able
Instead of low pricing strategy,
TESCO use the specific one
which is suitable and
beneficial for their business. It
analysed that organization use
cost leadership as pricing tactic
which in return increase their
profit margin and productivity
more than other players exist
within retail industry including
ASDA. As compare to other
Product This company is able to
provide wide variety of goods
including clothing,
entertainment products,
groceries and fresh food items
to consumers by focusing of its
quality (McPherson and et.al.,
2019). Firm want to establish
their positive brand image
within market place. It is the
main objective of company
which they gain by offering
quality goods in different
categories. They also provide
travel insurance, personal
loans and travel money to
people that help to achieve its
objective in effective manner.
As compare to ASDA, TESCO
use better tactics to achieve
their set aims and objectives
that is to retain consumers,
satisfy their needs and become
market leader at global level.
Along with wider categories of
items including clothing,
stationary and electronics they
also offer cosmetics products
to consumer according to their
skin type. It helps to drive
attention of local people and
other who visit outlets during
travel journey.
Price To gain attention of new
consumers and retain potential
buyers ASDA marketing
department set affordable cost
for each item. They use low
pricing strategy that help firm
to retain consumers for long
which in turn increase sales
and profitability of company
rather than its competitors. By
using this strategy firm is able
Instead of low pricing strategy,
TESCO use the specific one
which is suitable and
beneficial for their business. It
analysed that organization use
cost leadership as pricing tactic
which in return increase their
profit margin and productivity
more than other players exist
within retail industry including
ASDA. As compare to other
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
to create high sales volume
(Ewart, 2018).
strategy, cost leadership cater
benefits of increases market
size to TESCO and also makes
them able to maximize
business sustainability rather
than before.
Place ASDA focus on place to sale
their varied range of items in
market. Currently firm has
stores in places like
Stantonbury, Selsey,
Lewisham, Raunds, Newport
etc. where high population is
accessible who are able to
purchase products of ASDA.
Organization has least 20
percent wider store which is
more than its TESCO. By
following simple & fresh
approach to store formats
company got their presence in
several places.
In context of this element
TESCO take important step or
use different strategy. They
employ two main sources of
distribution for their goods and
services like offline and
online. Their offline forum has
outlets of six varied kinds like
TESCO extra, Metro, compact
and Tesco express.
Organization reduce their
stores size because most
buyers are not feeling
comfortable while searching
for specific item due to wide
outlets.
Promotion Organization to generate brand
awareness across the world use
varied marketing tools and
strategies which makes them
able to achieve its objectives in
systematic manner. They
provide effective schemes and
discounts as promotions which
To promote their products and
brand within marketplace at
international level TESCO
marketing department use all
marketing and product
promotion tools or sources like
sponsors charitable events,
offers promotional discounts,
(Ewart, 2018).
strategy, cost leadership cater
benefits of increases market
size to TESCO and also makes
them able to maximize
business sustainability rather
than before.
Place ASDA focus on place to sale
their varied range of items in
market. Currently firm has
stores in places like
Stantonbury, Selsey,
Lewisham, Raunds, Newport
etc. where high population is
accessible who are able to
purchase products of ASDA.
Organization has least 20
percent wider store which is
more than its TESCO. By
following simple & fresh
approach to store formats
company got their presence in
several places.
In context of this element
TESCO take important step or
use different strategy. They
employ two main sources of
distribution for their goods and
services like offline and
online. Their offline forum has
outlets of six varied kinds like
TESCO extra, Metro, compact
and Tesco express.
Organization reduce their
stores size because most
buyers are not feeling
comfortable while searching
for specific item due to wide
outlets.
Promotion Organization to generate brand
awareness across the world use
varied marketing tools and
strategies which makes them
able to achieve its objectives in
systematic manner. They
provide effective schemes and
discounts as promotions which
To promote their products and
brand within marketplace at
international level TESCO
marketing department use all
marketing and product
promotion tools or sources like
sponsors charitable events,
offers promotional discounts,
in turn gain attention of
potential buyers towards
buying fresh food and
groceries products. Aggressive
marketing policy is the best
way company can use to
success, they create eye-
catching commercial which are
advertised via leaflets,
hoardings and billboards.
social media platforms and
also uses points of sale tactics
which is not much different
from ASDA but very
beneficial for TESCO. All of
their marketing plans focus on
one things and that is low
prices.
People To delivery quality products
and satisfy consumers ASDA
human resource department
hire new applicants within
company who are highly
knowledgeable and talented.
Firm recruit local people in
places where they have own
outlets because local
individual have full knowledge
about market needs and trends
which makes it easy for them
to deliver items accordingly
and increase sales more than
TESCO.
On contrary, Tesco instead of
hiring new candidates train
their existing workers by
developing effective training
& development plans. It is one
of the best way that save
money and time of HRM and
its team to recruit people.
Human resource department
also hire applicants, but mostly
focus to develop skills of
existing workers that is
beneficial in term of increasing
sales and productivity of
business.
Process ASDA to satisfy buyers
recheck each item after
receiving from suppliers. They
organized each product and
manage according to
To keep consumers
appropriate satisfaction,
TESCO increase their speed of
billing their services. By
speedy billion management
potential buyers towards
buying fresh food and
groceries products. Aggressive
marketing policy is the best
way company can use to
success, they create eye-
catching commercial which are
advertised via leaflets,
hoardings and billboards.
social media platforms and
also uses points of sale tactics
which is not much different
from ASDA but very
beneficial for TESCO. All of
their marketing plans focus on
one things and that is low
prices.
People To delivery quality products
and satisfy consumers ASDA
human resource department
hire new applicants within
company who are highly
knowledgeable and talented.
Firm recruit local people in
places where they have own
outlets because local
individual have full knowledge
about market needs and trends
which makes it easy for them
to deliver items accordingly
and increase sales more than
TESCO.
On contrary, Tesco instead of
hiring new candidates train
their existing workers by
developing effective training
& development plans. It is one
of the best way that save
money and time of HRM and
its team to recruit people.
Human resource department
also hire applicants, but mostly
focus to develop skills of
existing workers that is
beneficial in term of increasing
sales and productivity of
business.
Process ASDA to satisfy buyers
recheck each item after
receiving from suppliers. They
organized each product and
manage according to
To keep consumers
appropriate satisfaction,
TESCO increase their speed of
billing their services. By
speedy billion management
consumers needs. Management
arranges each and everything
on shelves for people to buy.
Workers accordant to demand
make all arrangement and
eliminate unnecessary things
that may not perceive high
value in context of clients. It
can be said that by focusing on
above things company achieve
their business objectives
effectively.
within company make their
buyers happy, it makes easy
for customers to acquire
products in outlets offline and
online as well. Organization
employs skilled employees
who are able to pay more
attention to buyers grievances
and address their problems in
effective manner. It is one of
the best tactic firm can use to
satisfy people that build good
connect between brand and
potential clients.
Physical evidence To show their physical
presence and drive target
buyers towards purchase
ASDA marketing department
decide to use the best tactic.
For example, firm divide their
following categories.
Supermarket division which
provides to small outlet
segment. The physical
evidence of company is not
limited to their outlets, logo,
equipment and brochures.
By comparing all the key
elements of marketing mix, it
has been evaluated that to
show physical presence
TESCO creates their social
media profile where buyers
can ask any question related to
product quality and ingredients
which can be used to make it
effective and better than other
brands.
Overview of marketing planning procedure-
arranges each and everything
on shelves for people to buy.
Workers accordant to demand
make all arrangement and
eliminate unnecessary things
that may not perceive high
value in context of clients. It
can be said that by focusing on
above things company achieve
their business objectives
effectively.
within company make their
buyers happy, it makes easy
for customers to acquire
products in outlets offline and
online as well. Organization
employs skilled employees
who are able to pay more
attention to buyers grievances
and address their problems in
effective manner. It is one of
the best tactic firm can use to
satisfy people that build good
connect between brand and
potential clients.
Physical evidence To show their physical
presence and drive target
buyers towards purchase
ASDA marketing department
decide to use the best tactic.
For example, firm divide their
following categories.
Supermarket division which
provides to small outlet
segment. The physical
evidence of company is not
limited to their outlets, logo,
equipment and brochures.
By comparing all the key
elements of marketing mix, it
has been evaluated that to
show physical presence
TESCO creates their social
media profile where buyers
can ask any question related to
product quality and ingredients
which can be used to make it
effective and better than other
brands.
Overview of marketing planning procedure-
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
It is one of the best and most systematic methods for creating marketing aims, strategy
and implementation tactics. Marketing planning procedure is comprised with few key stages that
help to make plan effective and much better.
Analysis is the first stage used by marketing department of ASDA. With this phase they
analyse current market needs before making any plan and then take further decision.
After gathering all information about market trends and consumers needs marketing
manager take next step that is planning. With effective team members manager create
plan in which they mention important info about product and use methods to share or
spread in market place.
After passing above stages it time to implement plan in systematic manner that is
beneficial for buyers and company as well.
Controlling is last phase of marketing planning procedure which is very important to
consider by marketing manager. Varied tools or methods are used to control each
activity.
TASK 3
Strategic marketing plan
Executive summary Marketing plan refer to as road map or blue print of ASDA which
cater them accurate direction to achieve all their objectives related to
sales and business productivity. The current marketing plan would
develop in regard to ASDA that would be focus on developing their
brand image at global level by using varied tactics.
Company overview ASDA is founded in 1960s by Asquith family merged with diaries fir
of Yorkshine. It is one of the biggest British supermarket chain in
United Kingdom and also consider as leading retailer in country.
Over than 18 Millions buyers purchase products from ASDA stores in
every week which in return increase their sales. Organization can take
decision to innovate new products and that is new strawberry muffins
that is healthy and tasty.
Vision and Mission Vision of ASDA is to become the best value retailer in Britain
exceeding buyers needs always.
The mission of company is to produce quality products and
and implementation tactics. Marketing planning procedure is comprised with few key stages that
help to make plan effective and much better.
Analysis is the first stage used by marketing department of ASDA. With this phase they
analyse current market needs before making any plan and then take further decision.
After gathering all information about market trends and consumers needs marketing
manager take next step that is planning. With effective team members manager create
plan in which they mention important info about product and use methods to share or
spread in market place.
After passing above stages it time to implement plan in systematic manner that is
beneficial for buyers and company as well.
Controlling is last phase of marketing planning procedure which is very important to
consider by marketing manager. Varied tools or methods are used to control each
activity.
TASK 3
Strategic marketing plan
Executive summary Marketing plan refer to as road map or blue print of ASDA which
cater them accurate direction to achieve all their objectives related to
sales and business productivity. The current marketing plan would
develop in regard to ASDA that would be focus on developing their
brand image at global level by using varied tactics.
Company overview ASDA is founded in 1960s by Asquith family merged with diaries fir
of Yorkshine. It is one of the biggest British supermarket chain in
United Kingdom and also consider as leading retailer in country.
Over than 18 Millions buyers purchase products from ASDA stores in
every week which in return increase their sales. Organization can take
decision to innovate new products and that is new strawberry muffins
that is healthy and tasty.
Vision and Mission Vision of ASDA is to become the best value retailer in Britain
exceeding buyers needs always.
The mission of company is to produce quality products and
make their services more affordable for everyone.
Objectives The main objective of ASDA is to provide satisfactory
services and products to target market.
To become global leader with strong consumer base.
To increase their profitability and productivity rather than its
competitors operating within same sector such as TESCO.
To gain attention of profitable market.
To enter into new market at global level such as USA.
PESTLE analysis Political factor- Taxation policies is one of the political factor
that affect ASDA while achieving their above objectives in
positive manner. Low tax pay due to political stability allow
firm to enter into new market place and grab the attention of
new buyers. It makes them able to build brand image in
positive manner at international level due to large consumer
base.
Economic factor- With good income source people are
capable to purchase products and pay for it without any
arguments. As it help to drive sales of company rather than
past few years. Good income level of individual permit them
to buy anything which is beneficial in context of ASDA.
Social factor- Change in consumers preferences and needs
put negative impact on ASDA business functions as well as
practices. According to the trend in the market buyers change
their buying behaviour and drive towards purchasing products
accordingly. It put high pressure on company to continuously
keep eye on market trends which makes them capable to
satisfy customers.
Technology factor- This factor impact on positive manner
because it increases production and marketing department
speed in effective manner. Development of digital marketing
provide firm a chance to reach at target market without
Objectives The main objective of ASDA is to provide satisfactory
services and products to target market.
To become global leader with strong consumer base.
To increase their profitability and productivity rather than its
competitors operating within same sector such as TESCO.
To gain attention of profitable market.
To enter into new market at global level such as USA.
PESTLE analysis Political factor- Taxation policies is one of the political factor
that affect ASDA while achieving their above objectives in
positive manner. Low tax pay due to political stability allow
firm to enter into new market place and grab the attention of
new buyers. It makes them able to build brand image in
positive manner at international level due to large consumer
base.
Economic factor- With good income source people are
capable to purchase products and pay for it without any
arguments. As it help to drive sales of company rather than
past few years. Good income level of individual permit them
to buy anything which is beneficial in context of ASDA.
Social factor- Change in consumers preferences and needs
put negative impact on ASDA business functions as well as
practices. According to the trend in the market buyers change
their buying behaviour and drive towards purchasing products
accordingly. It put high pressure on company to continuously
keep eye on market trends which makes them capable to
satisfy customers.
Technology factor- This factor impact on positive manner
because it increases production and marketing department
speed in effective manner. Development of digital marketing
provide firm a chance to reach at target market without
making too many efforts. By using social media sites
marketing team identify needs of group of people which they
wish to target and then sell items accordingly.
Environmental factor- Government and buyers concern
about environment safety and sustainability in every country
put high pressure on companies to reduce their carbon foot
print to sustain for long. It put positive impact on ASDA
because they already use paper instead of plastic to pack
products.
Legal factor- Employment act and laws related to it put affect
negatively because the demand of workers are changed
according to needs that pressurize ASDA to make further
modification which is not possible at short term notice.
SWOT analysis Strength- skilled workforce is strength or power of ASDA
which make them stronger to deal with any situation either
competitive market or change trend in market. With talented
and most applicable workers company deliver goods in
effective manner and gain attention of potential buyers
towards varied categories of items.
Weakness- ASDA less focus on marketing activities, they
only concentrate on quality of things to satisfy clients across
UK. It may be affect on its marketing plan and success of
business because in recent time people prefer to gather data
about anything via use of internet despite going from one door
to another supermarket.
Opportunity- It can be said that by using digital marketing
tools and different platforms ASDA can achieve all its
objectives in systematic manner and generate brand awareness
all around the world. Technology advancement is one of the
best opportunity for company to build brand image in market
and generate more revenue.
marketing team identify needs of group of people which they
wish to target and then sell items accordingly.
Environmental factor- Government and buyers concern
about environment safety and sustainability in every country
put high pressure on companies to reduce their carbon foot
print to sustain for long. It put positive impact on ASDA
because they already use paper instead of plastic to pack
products.
Legal factor- Employment act and laws related to it put affect
negatively because the demand of workers are changed
according to needs that pressurize ASDA to make further
modification which is not possible at short term notice.
SWOT analysis Strength- skilled workforce is strength or power of ASDA
which make them stronger to deal with any situation either
competitive market or change trend in market. With talented
and most applicable workers company deliver goods in
effective manner and gain attention of potential buyers
towards varied categories of items.
Weakness- ASDA less focus on marketing activities, they
only concentrate on quality of things to satisfy clients across
UK. It may be affect on its marketing plan and success of
business because in recent time people prefer to gather data
about anything via use of internet despite going from one door
to another supermarket.
Opportunity- It can be said that by using digital marketing
tools and different platforms ASDA can achieve all its
objectives in systematic manner and generate brand awareness
all around the world. Technology advancement is one of the
best opportunity for company to build brand image in market
and generate more revenue.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Threat- supermarket retailing sector has intense competition
in market. Boots, Sainsbury's, Morrison's, TESCO and Aldi
are the main competitors of ASDA who are able to increase
competition level more than before. It creates barrier in
context of firm success and achievement of business plan.
STP Segmentation- To enter into new market place and gain
attention of buyers organization use specific segmentation
strategy. They use demographics segmentation tactic to target
low income families. Marketing campaigns undertaken by
organization look to appeal above target. It is concentrate on
being affordable or cheapest is indicative of their primary
target consumers.
Targeting- Target unit of ASDA will be families with lower
income based on which particular marketing strategy that will
be utilized. By targeting their specific market or consumers
company is able to achieve objective as it helps them to gain
attention of new buyers. It is one of the best action will take
by firm in regard to their marketing plan.
Positioning- firm may feel that their business is recently
positioned to narrow, targeting a client base which is
shrinking which competition is increasing. By differentiating
products and changing their marketing which will target new
consumers to appeal to wider base of consumers.
Marketing mix Product- By focusing on the packaging of its products, the
company can attract new people towards them.
Price- When Asda set affordable price they can retain buyers,
sustain within new marketplace, gain competitive advantages
and also increase their profitability.
Place- At a place where all the products are clearly visible on
shelf, the company can satisfy people and make them more
comfortable while purchasing.
in market. Boots, Sainsbury's, Morrison's, TESCO and Aldi
are the main competitors of ASDA who are able to increase
competition level more than before. It creates barrier in
context of firm success and achievement of business plan.
STP Segmentation- To enter into new market place and gain
attention of buyers organization use specific segmentation
strategy. They use demographics segmentation tactic to target
low income families. Marketing campaigns undertaken by
organization look to appeal above target. It is concentrate on
being affordable or cheapest is indicative of their primary
target consumers.
Targeting- Target unit of ASDA will be families with lower
income based on which particular marketing strategy that will
be utilized. By targeting their specific market or consumers
company is able to achieve objective as it helps them to gain
attention of new buyers. It is one of the best action will take
by firm in regard to their marketing plan.
Positioning- firm may feel that their business is recently
positioned to narrow, targeting a client base which is
shrinking which competition is increasing. By differentiating
products and changing their marketing which will target new
consumers to appeal to wider base of consumers.
Marketing mix Product- By focusing on the packaging of its products, the
company can attract new people towards them.
Price- When Asda set affordable price they can retain buyers,
sustain within new marketplace, gain competitive advantages
and also increase their profitability.
Place- At a place where all the products are clearly visible on
shelf, the company can satisfy people and make them more
comfortable while purchasing.
People- when firm train their workers they can deliver
services and products appropriately. Management focus on
developing skills of their employees and build strong
workforce who are able to response consumers queries
effectively.
Process- When ASDA provide organic and fresh food
products to buyers they will increase more sales and generate
market share.
Physical evidence- ASDA must use traditional along with
digital marketing sources which is quite beneficial for them
because people in current era uses digital channels & social
media sites to collect info about different things.
Control To execute above strategic marketing plan, ASDA must use effective
measures that help to identify success and progress of business. They
will use Benchmarking and KPI that is useful and beneficial as well
in context of current scenario. Benchmarking will allow company to
compare their tactics to success full brand.
Evaluation In order to evaluate success of marketing plan and growth of business
ASDA management can use cost profitability analysis it is one of
the best evaluation tools that cater many benefits to company. It
allows firm to increase their profitability and also increase chances
that company can take advantage of to keep business successful. Cost
profitability analysis is an analysis of profit margin of company
output. Results of firm can be grouped into items and services.
According to this method company calculate their profitability and
profit share per buyers which makes them able to evaluate their
marketing plan success.
CONCLUSION
From above analysis, it has been concluded that by using effective marketing tools and
methods Asda company achieve their business objectives in systematic as well as ethical manner.
services and products appropriately. Management focus on
developing skills of their employees and build strong
workforce who are able to response consumers queries
effectively.
Process- When ASDA provide organic and fresh food
products to buyers they will increase more sales and generate
market share.
Physical evidence- ASDA must use traditional along with
digital marketing sources which is quite beneficial for them
because people in current era uses digital channels & social
media sites to collect info about different things.
Control To execute above strategic marketing plan, ASDA must use effective
measures that help to identify success and progress of business. They
will use Benchmarking and KPI that is useful and beneficial as well
in context of current scenario. Benchmarking will allow company to
compare their tactics to success full brand.
Evaluation In order to evaluate success of marketing plan and growth of business
ASDA management can use cost profitability analysis it is one of
the best evaluation tools that cater many benefits to company. It
allows firm to increase their profitability and also increase chances
that company can take advantage of to keep business successful. Cost
profitability analysis is an analysis of profit margin of company
output. Results of firm can be grouped into items and services.
According to this method company calculate their profitability and
profit share per buyers which makes them able to evaluate their
marketing plan success.
CONCLUSION
From above analysis, it has been concluded that by using effective marketing tools and
methods Asda company achieve their business objectives in systematic as well as ethical manner.
Marketing department of organization work effectively they consider target market needs and
then communicate with research & development and production department to produce then
manufacture all products accordingly.
Furthermore, it has been summarized that by developing and designing strategic
marketing plan ASDA reach at global level they identify all weakness through this plan and
improve it by garbing marketing opportunities which in return increase their sales, profit and
success score more than its competitors.
then communicate with research & development and production department to produce then
manufacture all products accordingly.
Furthermore, it has been summarized that by developing and designing strategic
marketing plan ASDA reach at global level they identify all weakness through this plan and
improve it by garbing marketing opportunities which in return increase their sales, profit and
success score more than its competitors.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
REFERENCES
Book and Journals
Armstrong, G.M and et.al., 2018. Marketing: an introduction. Pearson UK.
Bai, W and et.al., 2017. Organizational structure, cross-functional integration and performance
of new product development team. Procedia engineering. 174. pp.621-629.
Ewart, R.M., 2018. Transitioning DARPA Science and Technology Results into Space
Capabilities III. In 2018 AIAA SPACE and Astronautics Forum and Exposition (p.
5399).
Felix, R., Rauschnabel, P.A. and Hinsch, C., 2017. Elements of strategic social media marketing:
A holistic framework. Journal of Business Research. 70. pp.118-126.
Homburg, C and et.al., 2017. The contingent roles of R&D–sales versus R&D–marketing
cooperation in new-product development of business-to-business firms. International
Journal of Research in Marketing. 34(1). pp.212-230.
Iyer, P and et.al., 2020. Market orientation, brand management processes and brand
performance. Journal of Product & Brand Management.
Knuth, M and et.al., 2019. Sit Back or Dig In: The Role of Activity Level in Landscape Market
Segmentation. HortScience. 54(10). pp.1818-1823.
Kozinets, R.V., Scaraboto, D. and Parmentier, M.A., 2018. Evolving netnography: How brand
auto-netnography, a netnographic sensibility, and more-than-human netnography can
transform your research.
Kunle, A.L.P., Akanbi, A.M. and Ismail, T.A., 2017. The influence of marketing intelligence on
business competitive advantage (A study of diamond bank Plc). Journal of
Competitiveness. 9(1).
McPherson, S and et.al., 2019. Checkout terminal. U.S. Patent 10. 206. 524.
Opute, A.P. and Madichie, N.O., 2017. Accounting-marketing integration dimensions and
antecedents: insights from a frontier market. Journal of Business & Industrial
Marketing.
Othman, A.A.E. and Hafez, M.G., 2019. A framework integrating corporate social responsibility
for marketing architectural design firms in developing countries. Journal of
Engineering, Design and Technology.
Book and Journals
Armstrong, G.M and et.al., 2018. Marketing: an introduction. Pearson UK.
Bai, W and et.al., 2017. Organizational structure, cross-functional integration and performance
of new product development team. Procedia engineering. 174. pp.621-629.
Ewart, R.M., 2018. Transitioning DARPA Science and Technology Results into Space
Capabilities III. In 2018 AIAA SPACE and Astronautics Forum and Exposition (p.
5399).
Felix, R., Rauschnabel, P.A. and Hinsch, C., 2017. Elements of strategic social media marketing:
A holistic framework. Journal of Business Research. 70. pp.118-126.
Homburg, C and et.al., 2017. The contingent roles of R&D–sales versus R&D–marketing
cooperation in new-product development of business-to-business firms. International
Journal of Research in Marketing. 34(1). pp.212-230.
Iyer, P and et.al., 2020. Market orientation, brand management processes and brand
performance. Journal of Product & Brand Management.
Knuth, M and et.al., 2019. Sit Back or Dig In: The Role of Activity Level in Landscape Market
Segmentation. HortScience. 54(10). pp.1818-1823.
Kozinets, R.V., Scaraboto, D. and Parmentier, M.A., 2018. Evolving netnography: How brand
auto-netnography, a netnographic sensibility, and more-than-human netnography can
transform your research.
Kunle, A.L.P., Akanbi, A.M. and Ismail, T.A., 2017. The influence of marketing intelligence on
business competitive advantage (A study of diamond bank Plc). Journal of
Competitiveness. 9(1).
McPherson, S and et.al., 2019. Checkout terminal. U.S. Patent 10. 206. 524.
Opute, A.P. and Madichie, N.O., 2017. Accounting-marketing integration dimensions and
antecedents: insights from a frontier market. Journal of Business & Industrial
Marketing.
Othman, A.A.E. and Hafez, M.G., 2019. A framework integrating corporate social responsibility
for marketing architectural design firms in developing countries. Journal of
Engineering, Design and Technology.
1 out of 17
Related Documents
Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
© 2024 | Zucol Services PVT LTD | All rights reserved.