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Marketing Essentials : River island

   

Added on  2020-12-29

19 Pages6056 Words384 Views
Marketing Essentials

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1a) Key role and responsibilities of marketing functions relate to wider organisational context.1b) Key roles and responsibilities of marketing in the context of marketing environment.....2c) The significance of interrelationship between marketing and other functional units of anorganisation............................................................................................................................3d) Critically analyse and evaluate the key elements of marketing function and how they areinterrelated with other functional units of River Island. ........................................................4TASK 2............................................................................................................................................51) Comparison between River island and Arcadia Group applying marketing mix..............52) Different tactics applied by River Island to achieve the business objectives....................7TASK 3............................................................................................................................................81) Basic Marketing Plan.........................................................................................................82) Coherent Marketing Plan of Arcadia Group . ...................................................................83. Strategic marketing plan which includes 7P's of marketing mix.....................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONThe heart of the success of company lies in its marketing. Marketing is the most essentialfunctions to any business. It is a key process of researching, promoting as well as selling goodsand services to the target market. No business can survive for long time without the functions ofmarketing (Pike, 2015). Entire activities of business is depended on a successful marketing. Inthis present report, River Island company will be chosen for assessment. It is a clothing companyespecially for women's. Its headquarters are located in London, England, United Kingdom. Thereare about 300 stores in United Kingdom. The present report will cover the key responsibilitiesand roles of the marketing functions as well as its relation to wider context of organisation.Further this report also include 7P's of marketing mix in order to achieve organisationalobjectives. TASK 1a) Key role and responsibilities of marketing functions relate to wider organisational contextMarketing is the process of market research, planning, promotion and executing all theactivities which will allow firm to increase there customer base. Marketing is very importantfunctions of all the company as well as for River Island too. It is very helpful in exchange,transfer as well as movement of goods and services. It is the key procedure of researching,promoting, advertising and selling goods or services to the target market. The main motives ofRiver Island is to earn high profit and profit is largely depended sales and sales is totallydepended on the level of marketing. With the help of marketing, company can inform, attract aswell as convince audience that goods and services are of value to them. It is true that none one ofthe business or company can survive in the market for long time if they ignore the functions ofmarketing (Stanford, 2017). With the help of marketing the goods and services are bought to theplace of consumption and satisfied the needs of customers. The function of marketing that River Island is following are buying, selling, transporting,storing, risk taking, financing and communication standardization & grading, These are all theroles and responsibilities of marketing function that are related to the organisation context aswell as overall growth of company is depended on the marketing function. Here are the dutiesand responsibilities of marketing department of River Island which are as follows-Buying and Assembling- This is one of the most important function of marketing as it isthe responsibility of manager to decide what to buy, in what quantity, how much and from who1

to buy, when and what is the price (Pike, 2015). The marketing department of River Island firstplan to assemble all the raw materials and resources required for the product. This function isdirectly related with the production department of company as marketing manager provide all theinformation about the product and after that production department starts functioning. Selling- This the key of marketing. It is concerned with the potential buyers to actuallyaccomplish the buying of the product. Transfer of ownership from seller to buyer is involves inselling function. It is the responsibility of marketing department to increase the sales by makingefforts in marketing of product as achievement of aim and profit earning of River Island isentirely depended on selling of the product (Babin and Zikmund, 2015). River Island use varietyof selling techniques which is conducted by marketing department of organisation.Transportation- Transportation also is an important function of marketing. It is physicalmeans by which products are move from one place to another. Marketing helps company wheregoods and services needs for consumption. Place and utility is created by marketing. Withouttransportation it is not possible to deliver final goods and services to one place to another. RiverIsland uses the type of transport that is suitable, speedy and cost consistent (Greenwell, 2017). Storage- This is also an essential function of marketing where manager of marketingused to collect information from the customers and provide it to ware-housekeeper that what is tobe sold and what need to be store (Babin and Zikmund, 2015). Goods can be raw material andfinished goods. Thus, marketing help ware-housekeeper about the storage and delivery of goodswhen needed. b) Key roles and responsibilities of marketing in the context of marketing environment.The department of marketing plays a crucial role in promoting the goods and services aswell as mission and vision of company. Marketing department of company is useful in bothorganisational and marketing environment. Here are the duties and responsibilities of marketingdepartment of River Island -Defining as well as Managing Brand- This is most important activity of marketingdepartment that it helps company to define its brand that where they are standing in the market. Italso manages the brand name of company by taking information about the perception ofcustomers and inform it to production manager and after that marketing manager also takefeedbacks from customer and make them accordingly (Stephens, 2017).2

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