Marketing Essentials: Role of Marketing Function within TESCO

This document discusses the key components and role of marketing function within TESCO, a leading supermarket in the retail industry. It explores the interrelation between marketing and other functional units such as IT, HRM, and Finance. The document emphasizes the importance of collaboration and communication between different departments for the success of TESCO. Additionally, it provides a comparison of the ways businesses are using marketing mix for effective marketing processes.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Project part 1....................................................................................................................................1
Key components and role of marketing function within TESCO...............................................1
Interrelation between marketing and other functional units.......................................................2
Importance of interconnection between different functional departments.................................3
CONCLUSION................................................................................................................................3
Project part 2....................................................................................................................................4
P3. Comparison of the ways in which businesses are using marketing mix for effective
marketing process.......................................................................................................................4
P4. Evaluation and production of marketing plan.......................................................................5
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is one of the most effective and essential factors of companies success, it make
organizations able to achieve their set goals and objectives in effective manner. It provides a lot
of benefits to businesses in several terms. The current report will be based on TESCO, which
falls under category of leading supermarkets in retail industry. This study will explain marketing
function role within selected company and also define their connection with other departments. It
will justify significance of effective relation between different forms of business units in chosen
brand.
MAIN BODY
Project part 1
Key components and role of marketing function within TESCO
Marketing is simple procedure of comprehending target consumers of companies and building
strong connection with them. This term comprise important elements such as market research,
product development, competitive analysis, segmentation of target market and development of
approaches relate to marketing. All these components can help to drive sales of TESCO even
better and increase their profits margin. Marketing department play significant role in growth and
success opportunities of TESCO.
 It generates brand awareness of company within all over the world in effective manner,
which is quite beneficial in term of increasing consumer’s base, revenue and profitability.
 The another role of this function is to reach at target market and make workers able to
understand their needs, which allow them to produce and then sell products or services
accordingly.
 By using all the elements of marketing, manager can cater a lot of benefits to TESCO, for
example through market research they can gather data about competitive environment of
business world.
 Along with all above roles, marketing function another role is to communicate target
customers who are capable to pay fix amount exchange of goods, which in return
increase profit margin of TESCO.
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 They develop effective and attractive website where people can gather data or more
information about organizations services and products, as it help them while taking
decision in context of product purchase.
 Marketing function role is to conduct campaign for promotion initiatives, it bring several
benefits for chosen firm, like effectively communicate with people who are interested to
purchase item.
Interrelation between marketing and other functional units
TESCO is successful and most profitable supermarket because its business units appropriately
managed operational and functional activities, by working together.
Marketing department within chosen brand collaborate and coordinate with other functional
departments such as Information Technology (IT) unit.
Marketing with IT
Marketing with HRM
Marketing with Finance
Marketing with IT- Both departments perform together in form of collaboration, for
instance marketing unit use several technologies and systems that help to promote business in
market place. All equipments and programmes needs repairing and software updating that is
possible when marketing work with IT because information technology team is able to do that
thing successfully.
Marketing with HRM- Marketing department along with IT, also work more closely
with human resource management because it make them capable to build strong workforce who
can help in success of promotional strategies. For instance, HRM and marketing team
communicate with each other because they share needs relate to skilled workers. Marketing
manager to increase their productivity and performance level, collaborate with this chosen unit
and provide all information to them about hiring people who are able to develop marketing
strategies.
Marketing with Finance- Marketing and accounts department also collaborate and
perform together because they want to achieve aims and clear objectives of TESCO. Finance
manage and its team members under collaborative practices communicate with marketing group
in order to analyse their need relate to money because it allow them to use advanced technologies
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and develop plans for further success of TESCO. Finance section allot require money to
marketing that is really very important.
Importance of interconnection between different functional departments
Marketing, IT, human resource management and finance departments can perform successfully
and efficiently which in return increase the operational efficiency of TESCO. The
interrelationship between all functions are quite useful and essential in term of reaching firm at
global level, increasing their workforce ability and maximize productivity level while operated in
retail sector. It can be analysed that collaborative practices between all business units permit
TESCO to give tough competition to their rivals like ASDA, Sainsbury’s, Morrison and other.
The effective interrelation of marketing with other departments strengthen abilities of brand in
term of performing even better than other players who are also attempt and work hard to reach at
global level. Working and performing with another group can give applicants new perspective
and develop their skills which is quite beneficial for them in form of accomplish daily task or
activity on time. Collaboration drives all workers towards achieving set aims and objectives of
company which is actually essential to do. It is very important for all departments and workers
who work under it to increase collaboration and communication because it allows them to make
TESCO world’s best supermarket in the universe.
CONCLUSION
By summing up above discussion, it has been summarized that marketing functions by
performing and working within TESCO supermarket increased their sales and productivity level
even better. It has been identified that marketing department by playing their important role
boost performance level of company more than its competitors. Through effective promotional
strategies and advertisement content marketing department successfully gained attention of new
buyers towards purchase of products offered by TESCO. Furthermore, it has been determined
that by working together marketing, human resource, finance and IT departments gained
competitive edge for chosen firm which is quite beneficial for business.
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Project part 2
P3. Comparison of the ways in which businesses are using marketing mix for effective marketing
process
Marketing mix could be defined as the tool which is used by businesses to formulate
effective future strategies. It is also used by Tesco and its competitors like Sainsbury for the
purpose of assuring proper execution of marketing activities (Bui, 2020). The comparison of the
way in which these entities are using marketing mix is as follows:
Marketing
mix elements
Tesco Sainsbury
Product The offerings that are made by
businesses to the clients are known as
products. Some of the products that
are offered by Tesco to its clients are
books, clothes, toys, petrol, financial
services etc.
There are various types of items that
are offered by Sainsbury to the
customers. These are grocery items,
bank services, sanitary items etc.
Price It is very important for all the
businesses to make sure that they are
able to set appropriate prices for the
products so that large number of
customers could be attracted. The
pricing strategy followed by Tesco is
cost leadership in which it maintains
itself as market leader.
Sainsbury is using competitive pricing
policy as it is focused with attaining
competitive advantage within the
industry.
Place The location from where the
customers can buy products from the
sellers is known as place. Tesco is
selling all its products through online
as well as offline channels which is
facilitating it to be easily accessible
for the customers.
Sainsbury is highly focused with
meeting expectations of clients and be
easily available for them. It is selling
its products online as well as offline
which facilitates it to carry out all the
operations systematically.
Promotion Promotion is very important for all the In Sainsbury below and above the line
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businesses and Tesco has a strong
brand image that helps it promote all
its products. It is using newspapers,
television and other mediums for
promotion purpose.
promotional techniques are used for
which radio, leaflets, newspapers etc.
mediums are used (Ganesh, 2019).
People All the individuals who are involved
in the operational processes of the
organisation are known as people.
Tesco is assuring that it met all the
requirements of employees as well as
customers so that business can attain
success.
In Sainsbury the management is
paying attention towards providing
proper training to all the staff members
so that they can resolve all the queries
of customers and meet their
expectations.
Process In Tesco the managers have
formulated specific process for
processing order of clients online as
well as offline. The customers pick
their products and go to assistants
receive bill.
Managers in Sainsbury are paying
attention towards processes like
delivering goods to clients. In online
orders all the products are delivered at
doorstep and in offline orders billing
counters are made to provide bills.
Physical
evidence
It includes tangible as well as
intangible representation of the
company. Tesco is focused with
proper management of all the physical
evidences which includes brochures,
logo etc.
Sainsbury is focused with formulation
of effective strategies for managing
and maintaining the environment of
the stores so that the customers can get
what they want (Kesoglou, 2020).
P4. Evaluation and production of marketing plan
Marketing plan: It could be defined as the plan which is formulated by businesses for
improving the marketing efforts to spread awareness about the offerings. The detailed marketing
plan for Tesco to market its grocery stores is as follows:
Overview of the organisation: Tesco is one of the largest retailers of UK which is
operating business all around the world. It is mainly established or headquartered in United
Kingdom and generating good revenues at global level.
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Mission: Mission of Tesco for the marketing plan is to become the market leader in the
grocery stores so that larger market share could be captured.
Vision: It has been planned by Tesco that in future it will capture larger market share and
become the highly competitive entity for other players of retail industry (Kumar and Almoula,
2020).
SMART objective: Tesco is developing the market plan for the purpose of increasing its
market share by 20% in upcoming 5 years so that it can become market leader.
SWOT analysis: It is a strategic marketing tool which is used by businesses to determine
all the key elements of business. SWOT of Tesco is as follows:
Strengths Weaknesses
The main strengths of Tesco are good market
image and global presence which helps it to
remain competitive within the industry.
The major weakness of Tesco is that the
marketing activities of it are very weak due to
which it is not able to attract new customers.
Opportunities Threats
By developing new marketing plan it will be
beneficial for Tesco to increase number of
customers and market share.
The level of competition in retail industry is
very high and Tesco may lose its market share
because of it.
STP analysis: It could be defined as the analysis which is focused by businesses for
assuring effective execution of all the planned activities. Different elements of it are discussed
below for the marketing plan of Tesco:
 Segmenting: Under this process the segment for which the marketing plan is designed is
identified. The marketing plan of Tesco is designed for geographic segment and it will be
used for UK region.
 Targeting: The individuals who will be targeted by Tesco are from middle and upper
class and mainly the customers will range between 5 to 70 years as all the items for their
need are available in the stores of Tesco (Kwok, Tang and Yu, 2020).
 Positioning: For positioning the business Tesco will be using social media marketing an
effective and efficient mode of marketing.
Budget: The budget for the marketing plan of Tesco is as follows:
Particulars Amount
Research and 5000
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development
Promotions 8000
Advertisement 3000
Compensation to the
marketers
15000
Total 31000
Monitoring and controlling: It could be defined as the process of analysing and
controlling all the negative events which may take place in future. For example, if the
organisation will not be able to manage the funds systematically then it may result in failure of
plan. In order to respond to this issue proper scheduling for tasks could be performed (Mohseni,
2017).
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REFERENCES
Books and Journals
Bui, T. T. N., 2020. Inbound Marketing Plan for Small & Medium-Sized Businesses.
Ganesh, A., 2019. Influence of Four Ps of Marketing in Buying Behavior. Academic
Discourse. 8(2). pp.34-43.
Kesoglou, C., 2020. A Marketing Plan for “Lancom” company.
Kumar, S. and Almoula, T. S., 2020. A comparative study of customer service level based on
service marketing mix (7Ps) in selected public and private sector banks in Bhopal, MP,
India, by using mystery shopping as a tool. International Journal of Financial Services
Management. 10(3). pp.239-267.
Kwok, L., Tang, Y. and Yu, B., 2020. The 7 Ps marketing mix of home-sharing services: Mining
travelers’ online reviews on Airbnb. International Journal of Hospitality
Management. 90. p.102616.
Mohseni, S., 2017. Marketing Plan for Kajaani University of Applied Sciences Library.
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