This document explains the key roles and responsibility of different functions of marketing, how they relate to the wider organization, and the application of marketing mix to achieve business objectives. It also provides a basic marketing plan for an organization. The subject is Marketing Essentials.
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Marketing Essentials
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Table of Contents INTRODUCTION..........................................................................................................................4 TASK..............................................................................................................................................4 P1 Explain key roles and responsibility of different functions of marketing.............................4 P2Explaintherolesandresponsibilityofmarketingrelatestothecontextofwider organisation.................................................................................................................................5 P3 By comparing marketing mix to the marketing planning process to different organisation achieve business objective..........................................................................................................7 P4 Produce and evaluate basic marketing plan for an organisation............................................9 CONCLUSION.............................................................................................................................12 REFERENCES..............................................................................................................................13
INTRODUCTION Marketing essential is the initial stage of planning that give support to marketers to give attention to key issues. As in marketing various activity related to advertising, purchasing, distributing and selling of product can be done with the helps of different channel(Charter, 2017) . It involves an activity in which potential customer are forced by marketersto buy company's services or product. Tesco is the organisation that is choose in this report. It is a great retails of groceries in UK. It has its headquarters in Herefordshire and it was founded by Jack Cohen. Key roles and responsibility of marketing function is to be explain in this report. Explanation of roles and responsibility of marketing relate to wider organisation context. Application of marketing mix to the marketing planning process to achieve business objectives is to be done in this assignment. Basic marketing plan is also be create and evaluate for an organisation in the report. TASK P1 Explain key roles and responsibility of different functions of marketing. Key roles and responsibility of marketing function are product development,market re3search, finance, planning, distribution, communication, promotion, selling etc. The marketing functions are interconnected with other organisational functions in a company(Cornwell, 2020). The marketing function is make focus on buying and selling activity so that the requirement of audience is to be satisfy. The major roles as well as functions of marketing cover various activity like transport goods wherever is requires, information related to marketing is to be collected to satisfy the needs of customers, storing the stock etc. It also include activity like to identify the needs of the customer, anticipating the demands of customer, the methods to maximise the profit is to be identified. The description of key roles and responsibility are explain as follows: Responsibility •Need of audience is to be identify: The marketing function is responsible to identify the changing desires of the consumers. The main objective to focus towards identification of needs, attitude, wants and habits of consumers and also to analyse the data carefully to identify the demands of customer that are prevail in the market place. •Anticipating customer requirement: It is the responsibility of marketing departmentto anticipate the needs of the customer .Anticipating audience requirement can givethe
organisation with first mover advantage and help the company to meet the needs and demands of the consumer. Roles •satisfy the wants of customers: It is the main role of marketing function as marketing help to identify the item that can easily satisfy the requirement of the consumer and can offer them value for money. •makingprofit: It is the responsibility of marketers to find out the innovative and new ways to sell its items. By giving the customer different packages of value added that cannot provide the audience the value for money but also affect the sales and profit positively. The role of marketing for Tesco can observe in providing strategy related to situational analysis. It give support to refine the corporate goals and develop marketing objective in favouroforganisationandforcustomersalso.Theorganisationprovidevarious objectives like profitability,cost saving and growth in market share. For example To introduce new product, marketing objectives are use by organisation that can lead the marketing to support the corporate goals on profitability. By identifying potential areas of target market, the marketing function of tesco is also actively involved in growing overall share of market. Tesco marketing function is also engaged in demand and supply analysis of product. P2 Explain the roles and responsibility of marketing relates to the context of wider organisation. Marketing involve all the efforts and activities that every company undertake to transfer goods from producer to customer. Marketing function deals in specialized activity that is necessary to perform at the time of doing marketing as it take goods and services from origin location to consumption place(De Mooij,2018).Tesco perform an act for that purpose by making link between producers and end users. Marketing department of Tesco focus on various areas for effective results as they do direct communication with their customers. For both B2B and B2C business the marketing function is remain same. In both business marketing function involves advertising,public relation, event, direct marketing, and interest marketing. Marketing department structure of Tesco is describe as follows.
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To remain in coordination with other related functions is the main objective of Tesco to come up with better marketing strategy. This give support to the company to achieve its business target with respect toB2B and B2C business activities. The interrelationship between marketing and other functional unit are as follows Marketing and Finance:Marketing strategies as well as relevant plan should be in the form of particular budget. Product line, profit, product line and cost margin of the brand are taken ointo consideration. The finance department provide budget to marketing department and perform marketing campaign with in the defined cost. As finance department also provide cost related information. Tesco marketing unit is need to be in touch with finance department to understand the present financial performance of the business so that marketers can perform activities accordingly. Human resource and marketing:The main function of the HR department is to recruit workforce and perform all the administrative work relates to the welfare of the employees (Hyder, 2016). The marketing department is interdependent to HR department to ensure that all the vacant position is to be filled on time and suitable candidate is choose by the HR Team to join marketing team. It also coordinate to ensure that training opportunities are provided that help the candidate to address the current challenging conditions of the market. The Human resource of Tesco also give the feedback of the performance regularly to the marketing unit and evaluate as the target is achieved as per the requirement or not. Marketing and customer service:Both the functions play a significant role in every organisation. For functions works simultaneously that whether the customer are satisfied with product or service. The customer service department of Tesco give the report of customers feedback to marketing department to help in development of new product. Both the department of Tesco work simultaneously for developing positive relationship with the audience. IT and Marketing department:They both work together to ensure achieving the marketing as well as company goals in the most affective manner(Jarach,2017).Both department work together to ensure that all functions functions of marketing department are equippedwithrecenttechnologicaladvancesandallthefunctionsareworkingasper requirement of customers in the market.
P3 By comparing marketing mix to the marketing planning process to different organisation achieve business objective Marketing planning:The position where the organisation is stand currently and the position it try to reach in future is done only with the help of doing proper planning. Every organisation has separate department for this purpose(Keegan,2017).Marketing planning includescommunication strategy, financialplanning, salesforecasting etc. to achieve the strategic targets in future. Timeline track are also be kept by this department of Tesco so that it can easily determine whether the organisation are on track or not. By adopting different marketing strategies it stands in the the third position in retail market in the world. Tesco focus on awareness, accessibility, diversification etc. to expand their brand. By adopting the strategy of marketing related to brand positioning, customers acquisition they promote their product and capture large area of market share. Tesco not only adopt online mode but also make update on online channels for product product. This section giving attention on analysation of application of marketing mix. For the purpose of this task Sainsbury has compare with tesco to analyse the different implementation of the elements ofmarketing and their respective outcomes. Talented markers use marketing strategy to analyse the current situation of the market and for developing marketing plan. The main focus of the organisation is on 7 P's that include product, price, place, promotion, process,people, physical evidence(Vellas, 2016). With the help of 7 P's marketing strategy is prepare MixTescoSainsburry's ProductHuge variety of products of various different brands are available in the company.Theydifferentiatetheir productintofiveuniquecalorie brands to help match diet plan It offers different product like food, electricproduct,householdgoods andfurniture.Toattractlarge number of audience Tesco offer to It is a chain of supertmarket that stock around 30000 product line. Diversified variety of fruit and vegetables, fish or meat,chilled, dairy,bakery,beer,wineand spirit,healthandbeauty, household, pet care.
their customers lot of services that addthevaluesuchascustomer service, free parking, toilet, full air condition , baby room etc. Although theorganisationdoesnotmake emphasiseonproductqualitybut still maintain the quality of product on acceptable level. PriceThey offer reasonable product. The companylaunchPriceguarantee scheme for business expansion. To compete with their competitor cost pluspricingissuitablepricing strategy for tesco. Thecompanychallengestough competitionintheconsumer market.Itadoptscompetitive pricingpolicytomakecontrol overthepricessetbyits competitivebrand.Lowprices productmakeavailableas compare to other competitors. Placevarious large stores are located at differentlocationindomesticas well as other foreign countries. As their stores are fully air conditioned as it give comfort to their customers. They have few stores as compare to tesco and size of stores are also small PromotionWith the help of different media and approaches it creates awareness in themindsofcustomersvarious elementsofpromotionalmixis adoptedbyTescolikepublic relation,advertising,sales promotion to develop good brand image in the minds of customer. It can promote their products by givingadvertisementonradio, television, newspaper. It official website is the best promotional tool.Salespromotionvia incentivesanddatabase marketing as become the part of promotional strategy. PeopleLargenumberofemployeesare working in the stores of Tesco. The Around 152000 employees are working in their stores to give
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satisfaction of workers is necessary forserviceproviderthatis beneficialtocompetewith competitors in the market. good services to their audience. Physical evidenceIt refers to the element that are used forvisitorsforexperiencingthe environment as well as customer's experience.Duetotheir infrastructureandinteriorthey attract huge customers. It has large stores so that it can easily store huge large variety of products in great quantity. ProcessTheprocessincludesvarious activities that are used to something. It undertake various strategies that is useful to deliver the product to the audience. Tesco provide free home delivery service to their customers thatmotivatethemtopurchase items from their stores. Sainsburry's provide door to door servicethathelptoinfluence large customers. P4 Produce and evaluate basic marketing plan for an organisation. Company Overview: Tesco Plc is the large British multinational groceries and general merchandise retailer which has its operations within the wider level, thus the head quarter of the business is in Welwyn Garden City, Hertfordshire, England, United Kingdom. The company is having around 450000 employees who are implementing their significant efforts in the growth and success operations of the business(Rowles, 2017). Vision and Mission statement: It tends to be considered as the optimistic perspective on where the business firm needs to be. It gives a huge bearing to accomplishing objectives of firm. The significant vision of Tesco Plc is to be the exceptionally esteemed association through their clients whom they serve, the
networks wherein they work their business exercises, their representatives, works or partners and investors. The organization is centred around giving top notch items and administrations in reasonable costs to their critical clients(Park, 2020). BasisDescription StrengthTesco Plc is having a large amount of product and this can be considered as the primary strength of the business as it leads the business to gain growth. Effective brand image within the market is also a major strength of Tesco in increasing the number of customers. WeaknessOrganization is confronting different issues related with account and capital. The organization has week presence in different nations. Through awful obligations the benefit and progress of firm were affected. OpportunityThe organization is worry on growth of private label. Creating premium reach items. Best opportunity to develop online administrations. ThreatIncreaseininflationandeconomiccrisesinfluencesthe organisational efficiency and performance of the business. With Brexit the business might face the issue within in trade deals and cost matters that can influence the business in negative way. Marketing Strategies: SegmentationTesco can fragment its market based on segment, geographic and psycho realistic factors so an enormous market can be isolated into little portions which will help in proficiently promoting organization items. TargetingIt defines to choosing an objective market where the organization will centre its showcasing technique and offers in order to impact clients to make buys. PositioningIt implies accentuating on the critical highlights of organization items so the items offered by it can help it in accomplishing an upper hand on the lookout. Budget allocation
It is important for the business to determine the new market trend and strategies which are adopted by the business in the manner to carry out their business activities in systematic manner. The marketing budget of Tesco is explained as below: ParticularsAmount (£) Marketing1800 Human resources10000 Equipments300000 Place30000 Controlling and monitoring: It is essential for the business and its management to control and monitor the marketing strategies and policies executed through the business so that an suitable guidance can be attained to achieve the desired aim and objective of the business. This will also aid the business in developing its performance so that efficient outcome are obtained and the activities can take place within the determined cost and time(Kingsnorth, 2019). CONCLUSION After deep study it is to be conclude that marketing plan is necessary to follow for the Organisation Tesco. It is the largest supermarket that attracts huge number of customers towards its quality product and services. With the help of marketing plan the smart strategies are share by the marketers in the market. This will help to achieve the objectives in the market also. It become beneficial for the organisation tesco to make focus on the techniques and methods of marketing concepts that are helpful for explaining qualities of the product. On the basis of above summary it also reflects that by adopting new practices and policies smart marketers can increase the profit margin of the company. It become necessary for every organisation make contingency plan as it helpthe organisation when the plan becomes fail due to uncertain event so to survive in the competitive environment it is necessary to formulate marketing business plan. REFERENCES Books and Journals
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Charter, M. and Polonsky, M. J. Eds., 2017.Greener marketing: a global perspective on greening marketing practice. Routledge. Charter, M. ed., 2017.Greener marketing: A responsible approach to business. Routledge. Cornwell, T. B., 2020.Sponsorship in Marketing: Effective Partnerships in Sports, Arts and Events. Routledge. De Mooij, M., 2018.Global marketing and advertising: Understanding cultural paradoxes. SAGE Publications Limited. Hyder, S., 2016.The zen of social media marketing: An easier way to build credibility, generate buzz, and increase revenue. BenBella Books, Inc.. Jarach, D., 2017.Airport marketing: Strategies to cope with the new millennium environment. Routledge. Keegan, W. J., 2017.Global marketing management. Pearson India. Kingsnorth, S., 2019.Digital marketing strategy: an integrated approach to online marketing. Kogan Page Publishers. Park, S., 2020.Marketing management(Vol. 3). Seohee Academy. Rowles, D., 2017.Mobile marketing: how mobile technology is revolutionizing marketing, communications and advertising. Kogan Page Publishers. Vellas, F., 2016.The international marketing of travel and tourism: A strategic approach. Macmillan International Higher Education.