Marketing Essentials

1000 words presentation

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1) Key roles and responsibilities of the marketing function................................................1
P2) Roles and responsibilities of marketing relate to the wider organisational context........2
TASK 2............................................................................................................................................3
P3) Comparison marketing mix of different organisations....................................................3
TASK 3............................................................................................................................................6
P4) For an organisation produce and evaluate a basic marketing plan..................................6
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
The combination of all the activities a company does for the promotion & selling of
product and customers to consumers is knowns as marketing essentials. Marketing also takes use
of “marketing mix” whose main elements are 4Ps Price, Product, Promotion and Place. The main
aim of marketing identify its real customers and draw their attention towards the product and
services offered by the company. At the initial stage marketing seeks to match a company's
product and services to customers who wants to purchase the product.
Chanel is a fashion industry that focus on women's high fashion as clothes, luxury goods
and accessories, it was founded by Coco Chanel in the year 1909 and today it served worldwide
in 310 location. Chanel is well known for the perfume Chanel No. 5 and the for its Channel suit,
the product of its company is very expensive as its high quality product & produce durable
items. Later the company also collaborated with jeweller Robert Goossens, to design jewellery,
the founder of the company died on 10 January ,1971. The aim of the company is to provide
good quality product to its customers and gain loyal customers whereas the mission is to make
comfortable workplace for their employees.
TASK 1
P1) Key roles and responsibilities of the marketing function
Marketing functions are the activities which comprises all the functioning which should be
involved by every company to find out the ways to reach out its end consumers. So the following
are some key roles and responsibilities of Chanel company:
Identify the requirements of customers
Identify the requirements of customers- It is important function of marketing of every
company to identify the changing needs of the consumers. The marketing department of Chanel
primarily focuses on identifying the needs, wants, desires and habits of its consumers. It also
takes the responsibilities to carefully analyse the data and identify what are the actual demand of
consumers in market place (Liu, 2017).
Anticipate Customer Requirements- It is necessary to find out the requirements of
companies products in the market place. Marketing departments plays its role in anticipating the
right amount of consumer requirements which provides Chanel an opportunity to get first mover
advantage. By this marketing department is responsible to help the company to meet the
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demands and needs of its consumers in large numbers. If the requirements are not anticipated in
correct manner by company then there are high chances that company looses it customers and its
competitive position in market (Kucuk, 2017).
Make Profits- If marketing department uses right marketing techniques with its scare
resources and targets right costumers it will definitely make good profits for company. It is
responsibility of marketing department to devise new innovative ways to sell its products in the
market. For this it is necessary to provide value added packages to consumers which will not
only provide them value of money but will also increase the overall sales and profits Chanel.
Keeping track on current trends and Monitoring Competition- It is very important for
company to know its position and level of competition in market. Marketing department of
Chanel is responsible to trends in market which helps in formulation of new strategies where it
also helps in knowing the the strategies of competitors and the methods they are are using to be
in competition. Tracking the trends on timely bases helps the company in making good and
effective plans which are can be implemented on time (Išoraitė, 2016).
P2) Roles and responsibilities of marketing relate to the wider organisational context
Chanel performs its marketing functions like identifying the requirements of its customer's,
anticipates customer requirements, makes profits and keeps tracks on trends and also monitors its
competition.
The marketing environment of brand refers to surroundings which can affect decisions
which are related to marketing activities and strategies of brand. It has been seen that the
functions performed by Chanel have huge impact of its marketing environment for which the
brand consistently works and focuses that internal environment is not been affected much with
the external environment of the company (Dib, 2016).
Marketing and Finance department- Marketing and finance department of Chanel works
in co-ordination with each other which helps company to increase the revenue and provides
competitive advantage in market. Marketing division is one which holds lots of expenses for
company as the marketing budgets do not have control. So the marketing department has to
discuss its plan with finance term and then finance team has to allocate funds to by which
marketing team can implement that plan.
Marketing and Production Department- Marketing division of Chanel evaluates and
analysis the behaviour of customers towards the products of brand and also finds what customers
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are ready to purchase more and what are the products which are consumed less. With this
analysis and evaluation marketing department instructs production division of company to
increase or decrease the production of products and the range in which they need more focus on
quality factor of products (Dangelico and Vocalelli, 2017).
Marketing and Human Resource Department- To carry out the marketing strategies and
plan of Chanel marketing term needs to have employees who have potential to carry out those
activities with the skills and knowledge. Marketing division communicates its needs and
requirements to HR team and according to those needs the HR team conducts the recruitment
and selection process. After selecting people stated by marketing division HR department is also
responsible for evaluating the performance level of employees on timely bases.
TASK 2
P3) Comparison marketing mix of different organisations
Marketing mix is a set of tactics which is used by company for promotion of its brand or
its product in market. These elements help in understanding what products can be offered in the
customers and it also helps in determining whether the product will be suitable for the customers.
The following is the comparison of marketing mix of Chanel and Zara:
Bases Chanel Zara
Price Chanel is a brand for elite class
customers and to satisfy them high
quality material is used by the brand.
Its target segment is niche that is
why the prices of products are quiet
high as compared to the other
brands.
The products offered by Zara are
of good quality but the pricing is
low. The brand provides quality
products which are trendy and
affordable (Abedi and Abedini,
2017). Different offers are also
provided by the company to sell
its products.
Place To cater the high class segment,
Chanel has located its stores in high
end posh localities. Its stores can be
found out in five star luxury hotels
which focuses on its targeted
Zara has its own stores which has
world wide reach, its a unique
business model which is not into
franchising. The store have
luxurious stores with good
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customers. Approximately 310
Chanel stores are there all over the
world. The products can also be
found out on its online website.
lightings and attractive mirrors.
Product Chanel is a brand which provides the
products keeping in mind the upper
wealthy customers. The brand
provides high standard products to
the people who can afford expensive
products. The products provided by
the brand are cloths for men and
women, watches, exquisite
jewellery, bags, shoes and
fragrances.
Zara is a brand which leads in
fashion industry as it has trendy
fashionable cloths for men,
women and kids. The brand
manufactures products which are
sustainable and uses
biodegradable bags which focuses
on reducing wastage.
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Promotion For promotions, Chanel usually
places its advertisements in high end
fashion magazines like Marie Claire.
Publishing ads in these magazines
are strategies for profitability as the
viewers can easily check the new
and ongoing trends. The brand also
does point of sale marketing at its
classy store layouts (Cluley, 2018).
Zara focuses on investing money
in opening new stores rather then
investing in promotional activities
which needs huge funds. The
brand believes in transitional
marketing promotion which is
word of mouth as a promotional
tool.
People Chanel increases the moral of
community concern towards its
employees. However, the employees
are selected from highest revenue
they make, those who are well
qualified are chosen for the
company. The brand also trains its
staff members to make the customer
buying experience more easy.
Zara focuses on providing training
to its staff, it also provides
performance based appraisals to
motivate its employees. As the
stores are in many countries the
brand hires local people and train
them according to the need of
companies culture.
Process Chanel has a quick process as it has
performs promotional activities in
fashion shows the brand alters its
collection more often. The
processing of delivery of its products
to its customers at stores is fast
because the staff is trained very well
to work quickly to safe valuable time
of its customers.
The process of Zara is fast as the
brand alters its collection every 15
days that is why they require
skilled staff members at every
level. The processing system used
by the brand is normal and easy to
use so that staff need not to face
any problem and deliver there
services on time without any
delay.
Physical Evidence As Chanel provides the quality
products to its high end customer it
The stores of Zara has friendly
environment for its customers.
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works on providing details of its
products to the customers, at the
time of purchase it also provides the
bills of products.
The stores are maintained by
keeping them clean and spacious
which make the customer spend
more time and be comfortable in
the space. The main focus is to
provide good services with great
experience to the customers.
Organisation achieve business objectives by applying different tactics.
Chanel used different strategies to achieve business objectives, the company uses mix of
demographic and psychographic segmentation strategies to market its product available to the
buyers of target market. The company also focus on quality oriented product to make loyal
customers in the market. Chanel is among the trend setter companies in fashion industry due to
its revolutionary design and modernity, the company also offer varieties of product with its sub
brands to attract variety of target customers. The company also uses various distribution channel
as exclusive stores, e-commerce websites,super markets to make its product accessible and
increase it sales and achieve the objectives of the organisation.
TASK 3
P4) For an organisation produce and evaluate a basic marketing plan.
Marketing plan explains all those strategies that a company will use to market its product
to customers, the plan identifies the target market , value proposition of brand or the product.
The main target of any marketing plan is to enhance the growth and profitability of the
organisation in the best. Market plan consider all the elements of marketing mix elements before
launching any new product, all the elements of marketing mix influence each other. Marketing
mix needs a lot of understanding, market research and consultation with several people. The
elements of marketing mix Product, Price, Promotion and Place are elements which are to be
consider before launching of product (Marketing plan definition, 2020).
Marketing Plan with reference to Chanel :
Overview of the company
Chanel is a fashion industry and among the leading companies that focuses on women's
high fashion and offer products for women as clothes, luxury goods and accessories. The
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company was founded in the year of 1909 by Coco Chanel today the company served worldwide
in 310 locations with its headquarters in France, London & United Kingdom. The company
offered expensive product because of its high quality material and durability, the company target
to offer good quality product to its customers.
The company is now planning to launch a new product in the market that is mens wear
which will be of high quality and attractive design which will serve its price to its best extent.
To launch a new product the company needs to produce and evaluate basic market plan for its
success and to reduce the chances of failure in future.
Vision
To be among the top leading industry in fashion by serving customers with best quality
and durable product. The company also wants to satisfy its customer to the maximum extent and
serve justice to its product price.
Mission
The mission of the company is to make workplace comfortable and rewarding for both
employees and employers, their mission is to motivate their employees . The company reveals
their company cultures and market compensation and showcases the most fair and accurate
display of employers brands.
Objectives:-
The objectives of the company is to increase its profit by 10% and to increase its market
share by launching new products in the market.
SWOT Analysis Of Chanel
Strength:- The company offers comfortable and functional clothes with the perfect
style , their collection is well known for its style in the market .
Karl Lagerfeld is the head designer and creative since 1983 and one of the most famous
desginer of the world, his great brain is the reason behind the success of Chanel.
Weaknesses:- Market growth is challenge for Chanel as the company has to face many
competitors Prada, Gucci, Dior, Versace, Hermes and H & M. The Brand Value is at a healthy
80th rank in the world still had a long way to go to become the leader in the premium segment.
Opportunities:- Chanel has to make effort to grow its presence on online , as the impact
of Chanel online presence is not that strong. Working on its will increase its sales and profit of
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the company. The company has a huge potential , so it should increase its potential in emerging
market and move away from the saturated developed market.
Threats:- Competitors of Chanel is a huge threat for the company as Louis, Vuitton,
Gucci,Versace and Prada. Luxury brands get copied a lot so the company need to tackle this
problem to survive in the market, there are many brand that copy the style and elegance of
Chanel and sell at much cheaper and affordable rates (Nicoletti, 2019).
Segmentation:-
Segmentation of market is a subgroup of people sharing one or more characteristic that
cause them to purchase the product, its a process of dividing market into similar groups or
segment. Chanel has to consider these factors before launching its new product mens wear in the
market, the company has to collect information which would help them design products
specifically and provide comfortable and soft material for the men which would match the desire
of the customers. The reason behind segmentation is to meet up the need of the customers and
help the company to grow by increasing its sales and profit. The segmentation of product is to be
done in various basis as geographic segmentation, demographic segmentation, psychographic
segmentation. Based on the various mode of division the company can offer variety of product to
the buyers which would match the taste of customers and increase the selling of products (Wood
and Jobber, 2016).
Targeting:-
Chanel focuses on women's fashion so the company targeted towards women who used to
demand classy and fabulous products, the company started with little black dress and
characteristic Chanel suits. Chanel targets on different markets as its offer diversity of products,
as the is launching product for mens, the company would need to focus on men's taste and have
to understand their demand to meet up their objectives. Targeting customers on the basis of the
company's product will ultimately lead to increase in sales and profit.
Positioning:-
The company would have to analyse its competitors in the market to create a market
position in the market , as it will launch its new product it has to analyse the companies who are
offering similar product & are already in the market. To create a market place the company the
target audience must be identified. The company can offer discount offers to create a market
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position at the initial stage & can launch affordable products for the buyers as to create market
place for a new product is difficult in the beginning (Išoraitė, 2016.).
Marketing Budget:-
PARTICULARS I II III IV V
Start-Up Capital 5400 11000 12450 13020 17140
Investment 4200 8800 6200 4465 8626
TOTAL 9600 19800 18650 17485 25766
MARKETING
OUTLAY
Marketing 6500 7800 6900 12700 13660
Publicity 9800 12100 9900 10500 12200
TOTAL 15300 19900 16800 23200 25860
Monitoring & Control:-
After implementing all the market plans required in launching the product , the final step
is monitoring the implemented strategies by Cost analysis, by evaluating whether the product is
making profit , attracting the customers, satisfying the customer creating a market position in the
market place. The planned objectives are measured if results are achieved with the implemented
strategies, if not then deviation are to be controlled and proper measures are to be taken(Kucuk,
2017).
Coherent evidence based marketing plan with reference to an organisation.
Chanel is a fashion industry and launched a new product in the market that is mens wear
with high quality and attractive design. The objective of the company after launching of this new
product is make increase its profit by 10% and market share in the market (Dangelico and
Vocalelli, 2017).
The vision of the company is to satisfy its customer by offering a product which justify
its price whereas the mission of the organisation is make comfortable work place and treat its
employee well.
The strength of the company is it offers trendy designs and stylish clothes as per the
regular demand of the customers whereas competitors of Chanel are its weaknesses. The
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company also targets its customers on various basis to attract customers and increase its sells and
analysis on segmentation of market based on the products they offer (Pooler, 2018).
7Ps is applied in a marketing plan to achieve overall marketing objectives
Companies uses 7Ps to achieve objectives of organisation and undertake competitive analysis.
 Product: Launching of any new product or services requires analysis of current market
demand, this element is about launching and development of products.
 Price: Price of product is a vital component which is completely based on the customers
targeted and the quality and material of the product(Liu, 2017).
 Place: To achieve targets the places of place should be accessible to the customers to buy
products.
 Promotion: Promotion is necessary to create awareness about the products among the
customers.
 Physical Evidence: Customer services, trained staff, websites attract customers.
 People: All the staff of the organisation who work for the company in service delivery
influence the buyer's perception, namely the firm's personnel ,the customers.
 Process: The flow of activity by which service is offered or delivered also contribute in
achieving objectives of the company (7Ps of Marketing, 2017).
CONCLUSION
Marketing essentials is the collection of all the activities required in promotion and
selling of goods, marketing mix is one of the vital component of marketing essentials. Elements
of Marketing mix are product, price, promotion, place, people, physical evidence and process.
Chanel is a fashion industry which focus on women's fashion and making a market plan for
launching a new product with the objective of increasing market-share and profitability. The
company has done SWOT analysis to analyse its strength, weakness, threats and opportunities,
Chanel also focus on segmentation and targeting of market to attract customers and create market
position in the market place. The last stage of market plan is monitoring and control to evaluate
if the implemented plans achieved the objective and control if in case deviated from the goal of
the organisation.
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REFERENCES
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Dangelico, R.M. and Vocalelli, D., 2017. “Green Marketing”: an analysis of definitions, strategy
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Dib, A., 2016. The 1-Page Marketing Plan. AMAZON India Private Limited.
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