Marketing Essentials

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
LO1..................................................................................................................................................3
P1 Key roles and responsibilities of the marketing function.......................................................3
P2 Interrelationship between marketing in wider organisational function..................................6
Lo2...................................................................................................................................................8
P3 Application of marketing mix................................................................................................8
LO3................................................................................................................................................11
P4 Marketing Plan.....................................................................................................................11
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Marketing by American marketing association has been defined as activity, set of
institutions, and processes for creating, communicating, delivering and exchanging offerings that
have value for customers, clients, partners and society at large. This definition of marketing
covers wider aspect of marketing including creating and delivering offerings. This reports aims
at discussion essentials of marketing in context of Tesco, British multinational groceries and
general merchandise retailer. Company was founded in 1919 by Jack Cohen and is headquartered
at Hertfordshire, England. Products of the company involve supermarket, hypermarket,
superstore and convenience shop and these products are available at 6800 locations in 10
countries of Europe and Asia. Tesco is third largest retailer on the basis of gross revenues and on
the basis of revenues it is 9th largest retailer in world. This report will discuss about key roles and
responsibilities of marketing function, and this will be followed by discussion about
interrelationship between roles and responsibilities of marketing with other functions of
organisation. Later report will include comparison of marketing mix of Tesco with Sainsbury’s
marketing mix. Lastly report will involve producing a marketing plan for Tesco.
MAIN BODY
LO1
P1 Key roles and responsibilities of the marketing function
Marketing is a function that is very important and several other functions are based on
marketing function. Success of marketing makes an effective contribution in success of overall
organisation (Cacciolatti and Lee, 2016). In order to contribute in organisational success, several
roles and responsibilities are carried out by marketing and these are as follows-
Undertaking market research
This is one of the most important role and responsibility that are played by marketing in
Tesco. As definition of marketing outlines it involves creating products and on the basis of this
element marketing in Tesco undertakes research, in order to identify what customers want and

require. Research also involves identifying target market and ways in which they can be
informed about availability of the products and services of Tesco. Research further helps in
creating and implementing promotional strategy for Tesco. Concerned with market research
Tesco undertakes survey and receive customers’ feedback and on the basis of this develop
different marketing strategies.
Developing marketing strategies
This is another role and responsibility of marketing function within Tesco. Marketing
function is expected to develop marketing strategy of Tesco. Marketing strategy through which
Tesco can achieve organisational as well as marketing objectives. This involves identifying and
recognising requirements of target market and develops strategies through which they can be
provided products and service accordingly. Marketing strategy aims at creating balance between
opportunities of market and organisational objectives and expected market performance.
Monitoring market trends and changes
This is another role and responsibility of marketing and this responsibility and role is
carried out by marketing function within Tesco by tracking trends and changes in market
(Minchin and Alpert, 2017). This means that Tesco operates in a highly complicated and rapidly
changing market environment. In order to ensure success of Tesco in changing market
environment it is important that trends are identified timely and changes in internal environment
are made accordingly. This is responsibility of marketing function to track changes affectively
and stay agile to identify potential threats and opportunities for effective performance of Tesco in
market. This is also important to ensure that Tesco is strong position in competition and is able to
take competitive advantage by effective adaptation of changes in market of Tesco.
Help in improving market performance of Tesco
This is another responsibility of marketing function within Tesco. This role and
responsibility of marketing involves giving suggestions to Tesco about what they should do in
order to improve their performance in marketing. This involves suggestions regarding improving
brand image, market expansion and different suggestions regarding product and service
improvements in Tesco. Improvement in sales processes and customers satisfactions is also part