Marketing Essentials: Comparing Marketing Mix and Tactics for Business Objectives

This document discusses the marketing mix and tactics used by different organizations, specifically focusing on Tesco and Morrisons. It compares their marketing strategies and explores the different tactics used by organizations to achieve their business objectives. The document also includes a marketing plan for a new product launch by Tesco.

Marketing essentials
Table of Contents

INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
Covered in power point presentation..........................................................................................1
Task 2...............................................................................................................................................1
Part A...............................................................................................................................................1
1) Compare the marketing mix of two different organisations to achieve business objectives 1
2) Different tactics by which organisation achieve their business objectives.............................3
Part B...............................................................................................................................................4
1) Produce and evaluate a marketing plan for an organisation...................................................4
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is a process that helps the business to promote their product and services in the
market by which company can attract the customers in the marketplace. Marketing is very much
important aspect of the company that directly contacts to the customer's and provide the
information to the company. Tesco is a retailing industry that provides their product and services
to the supermarkets or by online as well through their web portals. This report will cover the
marketing mix that helps the Tesco to achieve their target. Also includes different tactics that has
been applied by Tesco to achieve the objectives. There are various roles and responsibilities of
the marketing department in marketing environment with that also includes the interrelationships
between the different department of Tesco. Furthermore, this report includes the different
marketing plan for a new product launch to achieve overall marketing objectives.
Task 1
Covered in power point presentation
Task 2
Part A
1) Compare the marketing mix of two different organisations to achieve business objectives
Marketing mix is a process that has been followed by the organisation to promote their
product and services in the market and with that apply different tactics that attracts the
concentration of customer's towards the company (Perreault, 2018). These are the set of activities
that has been performed to promote the product by applying several marketing strategies.
Through marketing mix company performed all the task and activities to pay attentions of the
targeted customer's. Here, is the different marketing mix to plan the marketing strategies of two
different organisation of same sector (Marketing Mix, 2017). One company is Tesco while other
is Morrisons and the differences are discussed below as:
Basis Tesco Morrisons
Product Tesco provides a lot of varieties in
their store as includes foods,
groceries, clothes, cosmetics,
Morrisons sells their products under
their brand name and they have 5
categories in which they deal that
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stationary, financial and electronics
services as well.
are as foods, drink, clothes,
magazines, books and CDs etc.
Place Tesco follows both the channels for
the distribution as online and offline
and has 6809 store all around the
world.
Morrisons sells their product
through two different channels one
is online while other is from
wholesalers then they sell it further
to the retailers.
People Tesco have approximately 460,000
number of employee's that are
working with them and have large
number of customers and their
employee's easily assist them that is
the major factor of their success.
The employees of Morrisons plays
an important role in marketing of
their product and handles the
customer's relationship.
Price Tesco follows cost leadership strategy
to set the price of their products by
which they keep low price of their as
low as possible without compromising
to the quality.
Morrisons follows competitive
based pricing strategies because of
they have large number of
competitors.
Process Process is a set of activities that has
been performed to fulfil the need and
demand of customers thus Tesco cares
all the process of dealing with their
customer's.
Morrisons always make sure that
their products are always available
in the stores for that retailers specify
the level of inventory as that they
balance the storage of products.
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Promotion Tesco gets the helps in terms of
promotion as they have the strong
brand image.
Morrisons uses various channel to
promote their product and services
by social-media, newspaper.
Advertisement etc.
Physical evidence Tesco has the most effective logo and
colour that make it easy for the
customers to get attract towards the
product.
Morrisons sell their product by
making different and unique
packaging that makes their product
different from others.
This is the difference between the 7p's of marketing mix that shows the difference
between the promotional activities of their product and services. And these are the activities that
makes the image and value of a company in the market.
2) Different tactics by which organisation achieve their business objectives
Tactics are the micro-strategies that helps the organisation to achieve the set target within
a particular period of time. The different tactic that has been followed by the Tesco to achieve
the business objectives is STP and 4P's.
STP includes segmentation that defines that Tesco differentiate the market and make
different strategies to targeted market that enhance the growth and success of the company.
Tesco includes mass marketing strategy by which they target a large market and fulfil the need
and demand of the customer's. Positioning includes that Tesco performs several activities to
enhance the market position and image and with that Tesco achieve their target (Wu, 2018).
4P include product, place, price, promotion. Tesco has a wide variety of products that
they offered at their stores. The several products of Tesco are cosmetics, food, clothes, groceries,
technology, financial, health products etc. Tesco delivered their products at different place as
they have 69000 stores in 11 plus countries. Tesco uses cost leadership strategy to set the price
by which they keep their product price as low as possible. And they promote their products in
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both the platforms as online as well as offline thus they achieve their objectives by applying
several tactics that directly enhance the sell and profit of the company
Part B
1) Produce and evaluate a marketing plan for an organisation
Marketing plan is a blueprint or a report that includes the different marketing strategies
that analyse and forecast the sale and demand of product in the market (Andersen, 2019). It
provides the overview of different marketing goals and promotional activities by which the
market positioning will be maintained or raised (Bertoli, 2018). It also includes about the brief of
targeted market and need of customers that helps the business to achieve the success. It is
necessary for the marketing department by which they execute the marketing strategies for their
product and services. This plan is needed for Tesco as it provides the detailing about the product
and services and ensures that business get success. The marketing plan of Tesco is defined as
follows:
Overview of the company
Tesco is the third largest retailer in worldwide measured by gross revenues across
Europe, Asia and USA. It is the multinational groceries and general merchandise retailer. It was
founded in 1919 by Jack Cohen, and headquarter in Welwyn Garden City, Hertfordshire,
England, UK. Tesco has several subsidiaries Tesco bank, mobile, Ireland, lotus, Broker group,
Londis, Budgen. Tesco has 450,000 colleagues, around 6800 shops all over the world, around
80m shopping trips per week. Tesco expand their operation to 11 countries, their international
strategies in other country to enter by joint venture with Charoen Pokphand in Thailand to form
Tesco Lotus. As Tesco wants to launch a new product that is a new phone whose name is
TESC7. The analysis that helps the Tesco to maintain and develop the marketing plan is as
follows as:
Executive summary
Tesco is well-known retailer of UK that sells the different product like groceries and non-
food item as well. Thus Tesco wants to launch new product that is a new smart phone whose
name is TESC7. This is a first attempt of Tesco to get into this appliance whereas, before that
they sell different mobiles in their stores. Tesco wants to launch this product because in current
scenario people get attracted towards the smart phone and also likes the new technological
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advancements. And TESC7 comes with new advancement with different features that attract
maximum number of peoples. The marketing plan for this new product is as follows as:
Situation
SWOT Analysis
It is an analysis that presents the internal factors like strength and weakness and external
factor like opportunities and threat in the market (Hanzaee, 2019). Thus Tesco easily get to know
about different factor by which the company measures the growth by analysing strength and
weakness (Hisrich, 2018). Whereas, try to grab the market opportunities and takes several
precautions from the threat. SWOT analysis for Tesco is as follows:
Strength
 Tesco is the biggest retailer and largest supermarket in UK thus people already have the
belief in product and services of Tesco. Thus TESC7 gets a set platform by which it is
easy to attract people towards their new product (Ike, 2018). Tesco is a geographically diversified thus it covers the lot of market, thus it is easy to
launch new product because it gets the strong customer's base.
Weakness
 Tesco failed their expansion in US and Japan in 2012 and failed to export there, thus a
part of growth has been reduced. Few of the groceries stores of Tesco doesn't perform in some countries well thus the
market value has been decreased that reduce the market value of Tesco, thus somehow
negatively affect the launch of new product (Kostelijk, 2020).
Opportunities
 Joint venture is the biggest opportunity of Tesco, the local company provide market
knowledge and help to increase the performance. Thus it is biggest opportunity to TESC7
as it gets a wide range to spread. Online shopping is also being the opportunities as Tesco increases the home delivery
services by which they can initially sell the product with less cost that increases the
customer base.
Threat
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 Brexit is the biggest threat as because by this Britain is no-longer with European, thus
cost is affected by that and Tesco measure the loss in profit.
Objectives
Tesco have the objective to make a specific product that increased the market share of
about 8-10% with the launch of TESC7. Company wants to measure the growth for that they
made a new department that made the product with all the advancements. Altogether Tesco
wants to achieve the higher profit in terms of increment in sales. Tesco has estimated approx. 5
months to get the success with new product (Kruja, 2018).
Strategies
Segmentation: It is a process by which Tesco differentiate different group and target a
particular group to raise the profit. Tesco segments the customer as they choose youngsters for
their product as they always want a change in their smart phones. Thus Tesco segments the
geographic area based on customer's and age, sex, growth based on demographic.
Targeting: It is a process by which Tesco targets the customers who are more active on
the social-media or at digital platform. Company target the youngsters as they are more attracted
towards new gadgets.
Positioning: Tesco is the biggest retailer and they use online platforms as well to
delivered the product and services. Thus the product will be launched on digital platform,
because youngsters are more attracted towards social-media or they collect lots of information
from such platform (Sitkin, 2019).
Tactics
Product: The new product TESC7 of Tesco is a smart phone with advanced features like
most durable screens, high pixel camera, 200Gb ROM and equipped with 5G, with long time
battery durability. Comes with two lavish colour black gold, and ravishing gold.
Promotion: The Tesco chooses digital platform to launch the new product and tackles the
advertising and promotional activities at there as well (Thomas, 2019). The product will
provided to the known celebrities for free of cost by which they themselves promote the product
at their social media. Tesco also advertise the product on Google services as well to pay attention
of maximum amount of people.
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Price: Tesco would choose penetration strategy to launch the new product as by this
pricing strategy company comes with low price to grab attention of maximum customer. And
after a period of time rate has been increased according to the demand on time (Wirtz, 2018). As
the product gets success in market in terms of profit then the rate has been increased.
Place: Tesco choose online platform to sell the product thus they focus on wider area. By
using social-media Tesco covers the international market to sell the product and somehow also
provide the product on their store as well.
People: Tesco focuses on the youngsters as they are more likely to get attracted towards
the new gadgets and they keep continuously change their mobile phones. Thus Tesco target the
youngsters to measure the profit by their new launch.
Process: Tesco made a new team for the making of new product who keeps concentrate
on all the different factors of the market and indulge all new advancement that keep attract the
customers (Muller, 2019).
Physical evidence: To get attract the customer's Tesco uses the effective packaging of the
product and include the lean shape that is easy to handle. Product has sharp corners that provide
safety to the product as protect the screen damage (Malhotra, 2018).
Action Plan
Budget allocation- The Tesco has appointed a value of € 750, 000 for development and
growth of products or their services at a very large scale level. For different type of purposes this
budget will be used, for example hiring staff member as well as for marketing activities and
purchasing raw material or equipment. It assign the higher amount of funding in management is
inclined to expend on provided program or items. There are several methods which is used in
budget allocation are including zero based budgeting, activity based, value proposition,
incremental budgeting takes actual figures and subtracts or adds a ratio to get ongoing annual
budget.
Forecasting- Forecasting is the technique is using the historical data as inputs to create
informed approximation which are predictive to determining the direction of their future brands.
The uses of this business is to define that how to allocate their plans or budgets for anticipated
expenses in future time period. It is basically based on the demands of projects for products and
goods or their service that are offered. It works in TESCO that investors use forecasting to define
if events influencing organisation. For example, its price will decrease or increase in shares in
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those company. It also gives an essential measure for corporation. As well as it needs a long term
orientation of operations.
Cost: Cost for the manufacture of fresh and new product is define below:
Particulars Amount (€)
Marketing 100000
Workforce 300000
Equipment 150000
Raw materials 200000
Sales: The estimation of company is enhancing of double digits in sales of products
which is provided through company.
Profit: The organisation has also estimation raise of 20% benefit that can be obtained by
their new products.
Market share: In this 10 % of more market share will be covered by launching their
latest products which is mobile phone at this time company is forecasting.
Controlling and Monitoring
In Tesco, the activities are controlling and administration of organisation has decided to
utilisation measurements tools for example main presentation signalling. The firm will compare
their past performance with their ongoing performance because of determine the development
and growth of this new products.
The project monitoring mention the procedure of maintaining evidence of whole project
associated poetics considering task duration and team performances. On the other hand, it
recognising prospective issues as well as taking accurate activity which is needful to assure that
project in within extent, on monetary fund and meets the specific point in time.
The monitoring and controlling procedure comprises those process which is required to
review, track etc. the improvement or performance of projects recognise in various types of
regions. Moreover, compare the ways in which different companies apply the marketing mix to
marketing planning process to get business objectives. Furthermore, it has been terminated that
evaluate and produce a basic marketing plan for organisation
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CONCLUSION
From the above report it has been concluded that main responsibilities and roles of
marketing function and it relates to broader organisational context. Moreover, compare the ways
in which different companies apply the marketing mix to marketing planning process to get
business objectives. Furthermore, it has been terminated that evaluate and produce a basic
marketing plan for organisation. These are the component that includes the government policy,
tax policy, rules and regulation etc. As well as tactics which include as 7Ps Price Place, People,
Process, Physical evidence etc.
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REFERENCES
Books and Journals
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Hisrich, R.D. and Ramadani, V., 2018. Entrepreneurial Marketing: A Practical Managerial
Approach. Edward Elgar Publishing.
Ike, L., 2018. Marketing: Traditional, Digital and Integrated. Xlibris Corporation.
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Communications. Routledge.
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Marketing (pp. 35-48). Routledge.
Malhotra, N.K. and Burgess, S.M., 2018. Integrating Social Media in Marketing Research
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Sitkin, A., 2019. Absolute Essentials of Green Business. Routledge.
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Thomas, I., 2019. The impact of the General Data Protection Regulation on digital marketing and
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Wirtz, J. and Lovelock, C., 2018. Service Marketing Communications. WS Professional.
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<http://smallbusiness.chron.com/functions-marketing-business-32399.html>.
Marketing Mix. 2017. [Online]. Available through: <https://marketingmix.co.uk/>.
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