Marketing Essentials- Marks and Spencer
Added on 2020-10-22
16 Pages4344 Words221 Views
MARKETING ESSENTIALS
EXECUTIVE SUMMARYMarketing is the art of creating, analysing, delivering offerings that have value to thecustomer and society at a large. Marketing is a very vital concept for the company to analyse thecustomer needs and satisfy them by providing standard quality of products and services. Itdetermines the roles and responsibilities of the marketing function in context to Marks andSpencer which analyse how marketing helps in analysing consumer needs and providesinformation to the company to formulate its strategies accordingly which caters customer needs.It also determines how marketing department is important in every organisation which provideslink between all other department and help in analysing the requirements of the respectivedepartment for smooth functioning of its operations. It analyses the advantage of implementingmarketing mix in the business to effectively formulate its strategies and shows how decisions canbe implemented in relation to product, price, place, promotion, people, process and physicalevidence marketing tools. It also analyses the advantage of making appropriate marketing planwhich outlines company actions and plans to remain competitive.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4P1The key role and responsibilities of the marketing function in Mark and Spencer...........4P2 Explain how roles and responsibilities of marketing relate to the wider organisationalcontext....................................................................................................................................6TASK 2............................................................................................................................................8P3 Compare the ways in which organisations apply the marketing mix to achieve businessobjectives................................................................................................................................8P4 Produce and evaluate a basic marketing plan for the organisation.................................11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONMarketing is the management process of creating, communicating, delivering andexchanging offering that have value for customers, clients and society at a large. It is a process ofidentifying and satisfying customer needs. Marketing plays a vital role in business. It helps inpromoting, researching and selling products and services to the target segment. In this reportchosen organisation for task 1 is Marks and Spencer which is a British multinational retailcompany specialises in clothing, food, home and luxury food products headquartered in London.This task covers the roles and responsibilities of marketing function with respect to Marks andSpencer. It also covers the interrelation of marketing with other departments in respectivecompany. Further it contains marketing mix of beauty giant which is a cosmetic selling companyfor men and women and has 50 branches in UK. It shows the comparison of the marketing mixto beauty giant with virgin cosmetics. A proper marketing plan is being made which providesproper analysis of company to formulate strategies.TASK 1P1The key role and responsibilities of the marketing function in Mark and SpencerMark and Spencer is a British multinational organization which specialises in sellingclothing, home products and luxury food products. The role and responsibilities of marketingdepartment of respective organisation is very important that it can't be ignored because by it theycan identify their target audience, demanded product, increase profit etc. There are various rolesand responsiblities of marketing function which are described below-Selling:- It is the core responsiblity of marketing, it consist of transfer of ownership tobuyer. Selling concern play key role in realising the appropriate buyer those complete thepurchasing process, for the aim of earning profit (Ahrens, 2011). This can be increase by meansof personal selling, advertising, publicity and sales promotion. Mark and Spencer determinestheir volume of profits and profitability by effective and efficient selling. Marketing helps inidentfying consumer needs and helps in selling of products. Buying:- The buying function involves what to buy, of what quality, how much fromwhom, when and at what price. Person those are purchasing agent is influenced by quality,services and price of the product. Mark and Spencer sell their products to wholesaler who resellthem to retailers. The products buy by retailer are based on the needs and preference of
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