Marketing Essentials

This report discusses the basic marketing concepts, strategies, and tactics used by companies to achieve business objectives. It explores the marketing mix and its elements, such as product, price, promotion, place, people, process, and physical evidence. The report also includes the development of a marketing plan for an organization, with a focus on the winter kid-wear product line of Topshop. The plan includes an executive summary, objectives, situation analysis, strategy, tactics, budget, and control and evaluation. Subject: Marketing, Course Code: N/A, Course Name: N/A, College/University: N/A

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
LO 2.................................................................................................................................................1
1. Apply the marketing mix to the marketing planning process to achieve business objectives
................................................................................................................................................1
2. Different tactics used by companies to demonstrate how business objectives can be
achieved..................................................................................................................................3
LO 3.................................................................................................................................................4
1. Basic marketing plan for an organisation...........................................................................4
2. Detailed coherent evidence – based marketing plan for an organisation...........................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing can be defined as the management and analysis of different exchange
relationship. It can be referred as the business process of building and maintaining relationships
for improving sales and satisfying the customers. Marketing essential includes basic marketing
concepts, positioning, targeting, differentiation, positioning, marketing strategy and mix that is
implied to an organisation in order to meet standard pre-defined outsole (Dibb and Simkin,
2013). In the present report, TopShop is undertaken for the organisational study which is a
British MNC apparel organisation as well as fashion retailer which business into accessories,
shoes, clothing and make-up. The organisation is expanded into multiple nations and own more
than 510 shops worldwide. This report will evaluate different roles and duties of marketing with
the interrelation of distinct functional departments. Beside this, evaluation of marketing mix and
its different elements will also be done along with creation of basic marketing plan.
LO 1
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LO 2
1. Apply the marketing mix to the marketing planning process to achieve business objectives
Marketing mix is referred as the combination of tools and techniques which company use to
pursue their marketing objectives and target (Pike, S., 2015).
Figure 1Marketing Mix Elements
(Source: Pike, 2015)
TopShop is one of leading fashion organisation that needs to relate their 7P’s of marketing mix
with other fashion leading organisation in order to comprehend their present conditions
(Scarborough, 2016). ZARA is one of the leading Spanish apparel and fast-fashion retailer that is
being related with TopShop i.e. mentioned as below:
Determinants TopShop ZARA
Product TopShop render their customer
wide range of commodities such
as cloths, cosmetics, accessories
etc. The company has its own
website which has more than 50
brands that includes Olivia
Burton to Kurt Geiger.
Organisation also sale athletic
products and services as well
Zara is also one of leading MNC
of apparel which provides
accessories, cloths, footwear and
perfumes etc. The company has
wide service range and several
products to target the consumer
satisfaction.
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(Lamb, and et. al., 2011).
Price TopShop focus on elite or mid-
high class people. The company
utilized the premium pricing
strategy to meet the market
requirement.
Zara has a good brand image in
apparel industry where the
company uses value-based pricing
technique to provide premium
quality products.
Promotion The organisation gives more
than 10% student discount on
their products. On the other side,
the company use advertising,
social media, digital media and
marketing campaign in order to
meet their target consumer.
Zara on the other hand,
communicate with their consumer
through unique promotion and
marketing technique. The
company use zero promotion
investment and basically focus on
mouth publicity (Blythe, 2012).
They provide eye-catching
window displays and kiosks to
promote the company along with
social media campaigns.
Place TopShop company’s stores are
basically placed on key market
areas of a city. The ogranisation
has its stores in more than 300
countries including UK, Europe,
Asia, South Africa etc. The
company has digital media
presence as well to provide easy
access to consumer i.e.
www.topshop.com or Topshop
APP (Lipsman and et. al., 2012).
Zara selects the key market zones
to place their stores and expanded
its business worldwide. The
company multiple stores and
flagship division in more than 15
countries including approximate
7475 stores overall. It has its
online presence as ZARA App.
People Organisation focuses on people
management as the company
focus on employee satisfaction
Zara is worker-centric organisation
that provides credits of success to
their employees, designer and
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more than anything. For this,
TopShop has multiple award
programs such as R&R,
employee of the month etc. to
keep their worker motivated.
other sales assistants.
Physical Evidence The company stores are designed
in trendy style to create a unique
appearance in marketplace. They
use graphics and premium
colours to attract their consumer
using minimal walls and lights
(Jones and Rowley, 2011).
Company use store ambience as a
marketing strategy to provide
consumer maximum satisfaction.
Zara offers their consumer a
comfortable and cozy environment
through designing correct
ambience, layout, music and
unique colours. They often create
a premium brochures, packaging
and interiors and many more other.
Process Topshop in order to manage
their process, optimize quality
maintain text to analyse the
production and produced
products. Using efficient
distribution chain, company
create the consistent availability
of services and products to their
online and office stores.
Company design several process
including production, delivery and
purchasing etc. Zara produces
services that are easily available
globally through APPs, social
media, and offline stores.
2. Different tactics used by companies to demonstrate how business objectives can be achieved
There are various tactics which a company can apply to improve their marketing strategy
and promotions. Here are explained most propaganda optimised by the Topshop:
Social Media: This can be stated as social media comes handy big time for the Topshop to draw
out more and more customer to build repo and a better brand image in the current market.
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Marketing Strategy: Strategy plays the main role when it comes to the marketing tactics
henceforth Topshop can thrive their business and meet the desired outcome in lesser time by
developing a proper marketing strategy
LO 3
1. Basic marketing plan for an organisation
Marketing is a process that undertakes propaganda and strategy of marketing which
includes multiple marketing aspects such as action plan, price mapping, right audience, expected
response from the consumers etc. (Siricharoen, 2013). Going forward, in this report Topshop is
planning to launch a whole range of winter wear product line for kids and in order to do so the
marketing plan is required to be mapped as below mentioned:
Executive Summary: In order to introduce winter kid-wear product line, Topshop is
planning and arranging a marketing propaganda in order to encourage the business growth as
well as future sales of the enterprise. TopShop was introduced at first place by Philip Green in
1964 which is a British fashion retailer.
Objective: Topshop wants to increase their revenues by 30% for this new Winter Kid-
wear product line within upcoming six months.
Aim: They plan to manage and evaluate current market value and growth, organization
has planned to achieve up to 30% revenue for their new Winter Kid-wear product line in next 6
month (Siricharoen, 2013).
Situation Analysis: By SWOT assessment of Topshop, enterprise will evaluate their
current market situation:
Strength Weakness
 Economic price of the products
 Hit-the-trend clothing style
 Broad range of product availability
 Multiple choices at cost points
 Established market reputation and
brand recognition
 Established market position and brand
image
 High administration price
 Average quality
 Inadequate quality management as
well as consumer services
 Dearth of information and accurate
details in online shopping
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Opportunities Threat
 Young target consumer
 Opportunities of deployment at open
economies.
 Strong competitors in market such as
H&M, Zara etc.
 Kate Moss’s reputation in the current
market can affect brand recognition.
Strategy: In order to take this business to the new heights the organisation has to expand
the business as well as meet the desired results, henceforth they used the market P’s strategy in
context of efficient enterprise growth in upcoming days (Jones and Rowley, 2011). Topshop
needs to make multiple modifications in some of their P’ strategies such as price mapping of the
products, tactics to increase their customer base relativity. This will help Topshop to achieve
their business objectives within the given time period.
Tactic (STP): Through effective segmentation of the products, targeting as well as
promotional campaigns, Topshop can achieve their determined results. Here are explained some
of these tactics:
 Segmentation: Company has classified their customer on the basis of demographic as well
as psychographic segment. The consumer of an enterprise is defined on the basis of mid or
high earnings range. Also, the company aims UK consumers as their main target.
 Targeting: After the segmentation of the consumers, targeting should be the next step.
Topshop concentrate on students, female consumer, elite as well as middle class consumers
as primary target in order to increase their business (Desai, 2013).
 Positioning: By the product's attribute strategy, firm plans to build positioning of their
goods line to their targeted consumers.
Budget: It can be referred as the assessment of needed payment to be completed in designed
marketing plan. It is requisite to design with authenticity in order to launch the execution, there
will be low financial loss. TopShop has decided £10milion to execute the lines.
Control and evaluation: By examining the entire report structure, TopShop will manage and
manage the execution practices within certain period of time in order to monitor the results
accordingly (Creating a Marketing Department, 2018).
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2. Detailed coherent evidence – based marketing plan for an organisation
Marketing mix can be defined as a collection of associated variables which consist of 7P’s, target
market over production of TopShop. The coherent arrangement of marketing of referred
enterprise utilising 7P’s of marketing mix which is mentioned as below:
 Product: Company’s product should have excellent customer service, brand properties,
quality as well as service availability. Organisation needs to fulfil their consumer demands
with enterprise’s commodities.
 Promotion: Effective communication and marketing with consumer utilising accurate
promotion tools likewise advertising, personal selling etc. are needed for organisation.
 Price: This is one of the key parts of marketing mix: TopShop’s site of stores should be
planned and accessible enough for the targeted consumer along with effective pricing
strategy.
 People: TopShop should focus on consumer and employee satisfaction while operating the
business to meet their set target.
 Process: The main process of company is to deliver commodities and services to consumer
using determined practice to expand their business (Desai, 2013).
 Physical Evidence: This is essential to create a positive and unique physical ambience in
TopShop’s store so that consumer can be satisfied with the organisation’s services.
 People: TopShop’s individuals like management, worker and consumer etc. should be
managed properly in order to accomplish business needs.
CONCLUSION
This can propound by analysing the report that marketing is a requisite departments and
organisational function which is not only responsible for satisfying consumer and maximize sales
but also help in creating healthy brand recognitions and relationship with its public. It plays a
crucial role in pricing, sale, productions and other functional concepts that are operated in
company. The company can design expansion strategy but has to evaluate their present market
situation by evaluating their marketing mix components i.e. combination of multiple elements
such as promotion, price, place, products etc. A marketing plan is required to develop by a
company for enterprise expansion that requires SWOT, assessment of financial statements and
market situation etc.
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REFERENCES
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