Marketing Essentials Assignment | ZARA Company
Added on 2020-12-29
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MARKETINGESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1: Define key roles and responsibility of marketing function...................................................1P2: Define roles and responsibility of marketing in relation to wider organisation context.......3TASK 2............................................................................................................................................4P3: Application of marketing mix by making comparison among competitor...........................4TASK 3............................................................................................................................................8P4 Formulation of marketing plan for an organisation ..............................................................8CONCLUSION..............................................................................................................................10REFERENCES................................................................................................................................1
INTRODUCTIONMarketing involve identification of customer need, creation, development as well asproduction of goods and services. It simply deliver valuable product to the consumer by selectingpotentiate candidate for the product. Further, marketing is itself a very broad term which is notonly confined to buying or selling. Thus, it involve other activities such as promotion of product,selection of suitable distribution channel as well as marketing mix strategy, carrying out researchand development activities and so on. For better understanding ZARA company has beenselected whose headquarter is in Spain and is one of the largest retailers of apparel. It basicallyhas approximately ten thousand stores that deals in clothing for various category of people suchas men, women and kids. The present reports makes the discussion about roles andresponsibility of marketing function, interrelation of marketing activities to wider organisationcontext. Moreover, application of marketing mix to achieve organization objective andpreparation of effective marketing plan to achieve desired output is covered in respectiveassignment (Abedi and Abedini, 2017).TASK 1P1: Define key roles and responsibility of marketing functionMarketing function: Marketing function helps in creation of potential product byidentifying need of consumers (Aghazadeh, 2015). Along with that it involve engagement ofpromotional activities by differentiating the product from the alternative offered by competitors.Thus, the seven main functions performed by ZARA company are defined below: Marketing information management: To identity the preferences or requirement ofcustomer business require lot of information as this information helps to maker effectivedecision. In context to Zara makes the use of computer based program that is ManagementInformation System which helps to store huge information of existing customer of company.This data not only help company to make business decision but also help in making businessdecision. Distribution channel management: Distribution channel helps in making the productavailable to customer by transporting it from one place to the another place. Herein, ZARAcompany which operate in more than forty country uses strong distribution network to transport1
the good from manufacture to consumer. Therefore, it uses both online as well as physical storeto make their product available to customer.Product management: Product refer to the item on which the company deals. Thus thewhole lifestyle such as forecasting, planning, manufacturing as well as distribution issystematically managed by organization. ZARA has successfully managed all the operation ofproduct like it manufactures the new design and make that product available in its store at a veryshort span of time. Moreover, it constantly adopt the new innovations for its product. Pricing: It refer to the amount charged by company for its offering. The price must bejustified as per the product then only customer will find worth buying the product. As ZARA is aglobal brand which is well known for its innovative designs. Additionally, company constantlylaunches new design or pattern based on the preferences of the people who recite in variousgeographical area. Thus, because of their premium quality product company charges high priceswhich is being accepted by the customer. Promotion: It helps in making the customer aware about the availability of the productdue to which companies uses varies medium of promotion such as tradition media or digitalmedia (Astuti, Silalahi and Wijaya, 2015). In context to selected company has gained hugecustomer base because of word of mouth advertisement. In addition to it company does notmakes much use of advertisement they just offer premium quality product and has expanded itsrange due to which it has gained huge market share. Selling: Selling refer to the role of sales person who pitch or assist the customer whileconducting buying process, Herein, respected company has employees wide sales person for theretail store. The responsibility of sales person is to help the customer while making decision orproviding them right fit for themselves, Therefore, it has created huge convince for customer. Financing: The financing function of marketing emphasize on providing credit facility tovarious channel member as well as consumer. Herein, Zara company has extended the creditfacility for both distribution channel as well as for customer. This has helped in building longterm relationship of stakeholder with the company. Therefore, following marketing function are the essential parts that helps to constitutethat better strategy as well as planning to make essential strategy for company. 2
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