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Marketing Essentials Assignment - Tesco Plc

   

Added on  2020-07-22

15 Pages5110 Words43 Views
MARKETINGESSENTIALS

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1) Important roles and responsibilities of marketing functions within firm.............................1P2) The roles and responsibilities of marketing..........................................................................3TASK 2 ...........................................................................................................................................5P3) Comparison between Tesco and ALDI through marketing mix...........................................5P4) Basic marketing plans for business......................................................................................8Vision and Mission statement:....................................................................................................8SWOT Analysis of firm: ............................................................................................................9REFERENCES .............................................................................................................................12

INTRODUCTIONMarketing is a process in which various activities are include in order to promote and sellthe product at marketplace. It is the combination of different tools and techniques which are usedat large level by the organisations. These activities put huge impact on the performance of theorganisation and they are also beneficial in order to satisfy customers and achieve their trust andconfidence. Some important tools of marketing are advertisement, public relation, direct selling,marketing campaign etc (Desai, 2013). Marketing activities are beneficial in order to makecustomers aware about products so customers can purchase them according to their needs anddemands. In the present assignment, the chosen company is Tesco plc which is a Britishmultinational company deals variety of products and services in order to fulfil the expectationsof customers. The report includes the study of important roles and responsibilities of marketingand its relationship with organisational objectives. 7P's of marketing mix and comparison ismade between ALDI and TESCO and marketing plan is also discussed in the report. TASK 1P1) Important roles and responsibilities of marketing functions within firmMarket is defined as a place where different individuals meet together in order to satisfytheir needs and wants. Marketing concept states that its main aim is to identify the requirementsof customers and administer them good quality products and services according to the demand ofbuyers. In this competitive world, preferences and choices of people changes very fast as there isany change that takes place in the market. Preferences of customers rely on market trends. So, itis necessary for every organisation to determine the changing trends in the market and accordingto that develop their products as per the needs of customers and satisfy them by providing qualityproducts and services to them (Dibb and Simkin, 2013). Marketing function helps the manager inmaking effective decisions related to the sales and promotions of their goods and services whichare essential for the growth and success of the organisation. Right execution of this functionshelps the firms in introducing innovative and new product in the market that assists in takingcompetitive advantage from the market. Marketing process plays vital role in performingbusiness operations in right way that leads an organisation towards growth and success. Roles and responsibilities of marketing functions are described below as:Product Distribution: This is the main function of marketing which is related withselling products to their customers according to their needs and wants. The main aim of TESCO1

are linked with attracting customers towards their products who can ultimately enhance theiroverall sales and profitability ratios and the clients can take advantages of their offered productsand services. If the customers gets timely delivery of products then firms will results in retainingloyal customers thus growth from their operations.Product design and development: In this age the people are mostly attracted by designand packaging of products and they are less attracted by quality factors (Fill, 2011). The firmsshould develop plans in order to develop innovative ideas for attractive labelling and packagingof products in order to enhance their revenues and sales ratios at market areas. TESCO havedesigned various products with new and innovative features which are satisfying needs ofcustomers and attracting them to buy their products and services.Customer services: It is the main function which are related with marketing activities asbuyers are most vital factors who will have the overall responsibilities in order to achieve growthand success for firms if they will buy their product. TESCO are British multinational retailingfirms who are offering variety of food products to customers all around the globe. They arefocusing on quality aspects in order to earn profits and revenues in their business operations andfulfilling desires of customers.Market Research: This is an important factors which are used by business in order tocollect data and informations which are useful for business for they can manufacture productsaccording to demands of customers and this will result in increasing their sales ratios. This helpsin achieving loyal customers who will buy their products and enhance their overall profitabilityratios. It is vital factor for firms in order to conduct effective research activities in effective waysso new and innovative ideas can be developed which satisfies needs of customers.Financing: This is also one of the vital functions for all business in order to make plansfor managing funds so they can easily execute their working in right directions. It is the mostimportant factors for business to manage all their capital requirements in planned and systems sofirms will not face any type of difficulty in their business operations (Hsu, 2011). The mainresponsibilities of this department is with Finance mangers as they are having money which theycan allocate for executing marketing campaigns in order to create awareness about their productsand services. The proper requirements of managing funds is need of every business organisationso they can easily carry out all their business operations. In order to make sufficient availability2

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