Understanding the Marketing Mix

This assignment delves into the fundamental concepts of the marketing mix, examining both the traditional 4Ps (product, price, place, promotion) and the expanded 7Ps model (adding people, process, physical evidence). It analyzes various aspects of marketing functions, including social marketing considerations, brand awareness, and consumer behavior. The assignment also references relevant scholarly sources to provide a comprehensive understanding of contemporary marketing practices.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Roles and responsibilities of marketing function...................................................................1
P2 Interrelationship of marketing with its core...........................................................................4
TASK 2............................................................................................................................................6
P3 Marketing mix of different business organisation.................................................................6
TASK 3............................................................................................................................................8
P4 Develop a basic marketing plan.............................................................................................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing is the process which assists in promoting and advertising the products and
services of the company. Its main objectives is to create value for consumers so as to build strong
and healthy relationship with them. In addition, marketing is an activity that is associated with
buying and selling of trades within workplace. The prime objective of marketing executives is to
attract target audiences through impressive products (Al-Ekam and et. al., 2012). Wilkinson is
the chosen organisation in this present assignment which deals in grocery products and services.
The company is located at several countries and its main aim is to be loyal for their customers
and to create valuable products for them. Apart from this, the present report will be described
roles and responsibilities of marketing functions. There is a comparison of marketing mix of two
business entities. A marketing plan will be also develop in this assignment.
TASK 1
P1 Roles and responsibilities of marketing function
Marketing plays a vital role in growth and success of business organisations. It is related
with satisfying needs and wants of potential customers in the best possible manner. There are
given following roles and responsibilities of marketing are stated as below: -
 The main role of marketing is to conduct marketing research so as to determine
consumers' wants. It also involves recognising competitors strength so as to make
effective strategies in order to compete with target market.
 The marketing department of Wilkinson is helpful in managing its brand at marketplace.
In this sense, marketing assists in promoting a firm so as customers can know about it.
 Marketing also focuses on improving communication with buyers by supplying them
quality added products and services. It creates healthy and friendly relationship with
market.
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(Source: Marketing Functions, 2017)
Below described some marketing functions: - Marketing planning – It is an important function of marketing in which managers makes
strategies on the basis of maximising market share of the company. Apart from this, a
marketing plan is written document which dictates future market position of Wilkinson.
In other words, marketing planning is created for a specific time period which covers all
details regarding promotion and advertising (Baker and et. al., 2016). Managers create a
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Illustration 1: Marketing functions

marketing plan in order to achieve their goals and objectives from target market. It gives
clarity to a firm to find customers and influence them to purchase products and services. New product development – It also refers with product designing and development. The
another function of marketing consists that companies make new products in order to
gain high competitive advantages. It also refers with improvising existing products of the
firm, make them more valuable and innovative for potential customers. The process of
new product development is a set of different ideas and tactics with an aim of achieving
goals and objectives. In addition, product development is a process of evolution of new
trades and services which is able to attract several buyers at marketplace. But, before this
managers have to analyse all over factors which will put an adverse impact upon growth
and success of companies. Packaging and labelling – Managers needs to find out new and innovative ideas of
packaging so to attract target audiences. It contains protecting, preserving, transporting
and selling goods of the firm. In this sense, packaging protects products from damages so
as they can safely reach to their end users. Therefore, it can also be a good form of
promote products among customers. Apart from this, labelling consists with providing all
information of products to customers such as – features, designs, size, raw material, price
etc. It helps customers to determine the quality of products whether it is useful for them
or not. Marketing research – This function helps in generating adequate information regarding
target market of the company. Marketing manager of Wilkinson regulates marketing
research in order to identify choices, behaviour, cultural, size of customers. It helps them
in developing innovative and effective products which able to meet buyers wants in best
possible manner (Brooks and Simkin, 2012). Marketing research is also useful for
employers while creating a marketing plan for the growth and success of retail industries.
Apart from this, it also aids in taking feedbacks and reviews from consumers so as to
make necessary improvements in existing products of the company. Financing – It deals with rendering income for various marketing activities i.e.
promotion, advertising and branding. It is essential to every company to raise their capital
for performing various operations in order to make higher sales and profits as well.
Therefore, managers needs to adopt diverse methods of payments so as consumers can
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easily purchase products and services of the company. Finance is the basic requirement
for business entities which helps managers in improving quality of their goods.
 Distribution – It is all about choosing the right method by which traders will be reached
to its target audiences. In other words, the distribution helps in ensuring that how product
is going to be moved from its point of production to their end users. It means to reduce
the role of middleman and whole sellers in the process of selling products.
There are given several marketing functions which main aim is to create high profitability
and growth for refereed business organisations. All these affairs plays a crucial role in attaining
and retaining customers towards the products and services to achieve goals of the firm.
P2 Interrelationship of marketing with its core
In global environment, marketing department of the company is interrelated with its other
functional units. Its helps in completing all working activities and operations in the best possible
manner. In Wilkinson, marketing units works with finance, human resource, information
technology, customer services, production, research and development departments so as to
achieve specific vision and mission of the businesses in a meaningful manner. There are given
some organisational units and their interrelationship with marketing, such are described as under:
-  Finance – Marketing and finance department are depended upon each other. In other
words, finance manager is able to make budget and accounting statements so as
marketing managers can decide the amount which will be spend of various promotional
activities. Apart from this, marketing driven up the new and innovative idea which is able
to attract target audiences whereas finance department more emphasis on gaining high
benefits by evaluating worth of the firm (Desai, 2013). In this sense, the role of
marketing is grow up business whereas finance ensures whether the company is running
in well being position or not. Therefore, it can be said that commutation is must between
both units in order to achieve pre-determined goals and objectives of the company. Human resource - Marketing and human resource department both are not interrelated
with each other. In addition, HR managers helps in finding best talent personal who are
able to produce effectively and efficiently for attaining potential buyers towards
company. Apart from this, high qualified and well skilled employees have capability to
produce creative products which helps in sustaining customers for a long term period. In
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this competitive market, qualified workers also knows how to handle customers queries
and gives them satisfactory solution for the same. Customer service – The main role of customer service department is to create maintain
healthy and positive relationship with customers. It generates many loyal key people
towards company which is very necessary in its growth and development. Customer
service department is responsible in listening buyers' problems and queries so as to
provide them relevant solution for the same (Dibb and Simkin, 2013). In this sense, there
are many technical issues generate in a produce, so that it is an ethical responsibility of a
firm to reduce them. This will helps in retaining customers for a long term period and
company can easily achieve its goals and objectives in competitive market. Information technology – In modern era, there are different types of tools and techniques
are developed which helps in making effective production. CRM and digital marketing,
there are two techniques which evolves market growth and success. In addition, customer
relationship management helps in maintaining healthy and positive relationship with
customers so as they can easily attain towards goods and services of the company.
Whereas digital marketing involves e-mail and mobile marketing, in order to reach end
users of products and services of the company. Apart from this, IT department renders
large scale products which supports various marketing activities. For example- Wilkinson
send messages on mobile to their customers for giving them information about new offers
and trades. Research and development – In commercial enterprises, marketing and R & D
department have to work together. In addition, manager of research and development
department conducts a marketing research through in order to determine customers needs
and wants. It also helps in providing information about competitors strength and powers
so as managers can develop their own marketing strategies and policies. In addition, an
adequate marketing strategy focuses on target customers and also identifies best avenues
how to reach them. Marketing research is assistive in regulating online surveys so as to
take feedbacks and reviews about current products and services of the business
enterprises.
 Production and operations – Marketing and operation department are worked for each
other. There are several types of products and services are produced in at workplace. The
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main role of production and operation department is to create qualitative goods which are
able to satisfy needs and wants of target audiences. Furthermore, managers make
marketing strategies that how to meet needs and wants of target audiences of the
company. It could be essential for managers to match operational constraints of
Wilkinson. The production department can also influence demands of customers by
providing them goods on time.
TASK 2
P3 Marketing mix of different business organisation
The core concept of marketing mix involves product, prize, place and promotion. It helps
managers to put right products, on an average prices at suitable place. Marketing mix helps in
analysing current marketing situation of the company and business activities whether they are
able to achieve goals and objectives in target market.
(Source: The Marketing Mix 4P’s and 7P’s, 2017)
Market mix of Wilkinson: - Product – A product consists with an intangible item that is able to fulfil needs and wants
of its end users. Wilkinson deals in many products i.e. grocery, food, luxury, electronic,
technology etc. The company has wide range of goods and services which is able to
attract a large group of key customers from target market (Gordon, 2012). Apart from
this, Wilkinson make timely changes on the basis on quality in its goods so as to covered
high market share and growth as well.
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Illustration 2: Marketing mix

 Price – It is key element of marketing mix. The pricing policy of Wilkinson is helpful to
create revenue for it by selling products and services at marketplace. The company has
many branded as well as average products, it served its services in all areas of the society.
Apart from this, Wilkinson has been used qualitative raw material in order to make
effective and strong products. Place – Wilkinson retail group deals in across the globe. It focuses on choosing the place
where a large number of customers can be easily accessed. The business enterprise has
many retail stores which are situated at towns and cities. In addition, it also use different
channels of distributing its products among buyers for enhancing sales and gaining higher
competitive advantages. Distribution channels also encompasses such persons, i.e. whole
sellers and retailers. The organisation has many retail shops in different areas, effective
transportation. Promotion – Wilkinson a retail industry is being used attractive promotional techniques
for attaining and retaining clients for a long term period (Hsu, 2011). It emphasis on
communication customers through different media channels such as – television, internet,
social media, posters, radio etc. Apart from this, it also conducts online surveys and face
to face interviews to take feedbacks about the products and services of the company.
Advertising assists in reaching target audiences very quickly.
The marketing mix of TESCO are described as:
PRODUCT: The firms are having large number of products which are available at
various stores all round the world. They have expanded their business operations in order to fulfil
needs and wants of their customers so that they can provide customised products according to
needs and wants of customers. It is dealing in variety of products like food, beverages, bakery,
technology products etc. It has created a good brand image in the minds of customers thus they
have generated their own brand products. They have established variety of stores all around they
globe and the availability of products depends upon the location of stores. They are selling their
products online thus they established success in expanding their product line in order to achieve
higher profits in economy.
PRICE: The cited firm have adopted cost leadership pricing strategy in order to take
decision about the final prices of good which they can sold to their customers and satisfy them.
They are focusing on quality aspects in order to increase their sales ratios. They have adopted
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effective channels by which they can easily sell their products at low cost and achieve economies
of scales. They are constantly focusing on making improvements in their supply chain policies so
that cost of goods can be easily reduced (Huang and Sarigöllü, 2014). They are taking feedbacks
from customers in order to evaluate the quality of products so that they can make changes
wherever it is needed. They are spending lower amount in using promotional strategy to create
awareness about the goods which are offered by them. They had recently opened new food
products which they are giving to their customers at very economical prices. They are focusing
on launching various offers in order to gain attention of large group of customers who can
purchase their goods.
PLACE: Tesco is having their operations at all places around the globe in order to satisfy
needs of customers and achieve higher profit ratios. They have designed larger areas of
supermarkets in order to sell grocery products to their potential customers. There stores are
smaller while making comparison with others but they have stored all the products that are
demanded by customers.
PROMOTION: Tesco have created brand images by selling the prices at very economical
prices in order to sell their products. They are not spending much amount on creating awareness
but they are placing their advertisement on hoardings, television etc. They are availing various
offers in order to sell their products at discounted rates so that customers can be satisfied like buy
one and get one free (Jones and Rowley, 2011).
TASK 3
P4 Develop a basic marketing plan
Every multinational business entity creates a marketing plan in order to evaluate future
elements which will put a huge impact on organisational performance and productivity as well.
Below mentioned marketing plan of Wilkinson Retail Ltd.: -
Introduction of the company
Wilkinson is a retailing company which was founded in 1930. It is a largest seller of
households and home ware products. There are 24056 employees are currently working with it.
TESCO, WALMART, Sainsburry, ALDI, ASDA etc. are the competitors of Wilkinson. The firm
has covered 23% share of overall market.
Vision and mission of the company
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The main of this organisation is to be world largest retail industry all over the world. In
addition, Wilkinson vision is to give an luxurious shopping experience to their customers. It
shows enthusiasm and spirit of team members. It follows the theme that is stated as – to win the
heart of community with wonderful shopping experience. Apart from this, the mission of the
firm is to fulfil corporate social responsibilities in a meaningful manner and make goals for
achieving vision of the company (Kennedy and Parsons, 2014).
Situational analysis
There are given SWOT analysis of Wilkinson Ltd. such is defined as below: -
STRENGTH
 Wilkinson has 540 supermarkets and 9
hypermarkets all over the world.
Therefore, it is cleared that the firm is
popular across the globe by having
large group of potential buyers.
 There are over 25000 employees which
are the main reason for its growth and
success. In order to compete with target
market, Wilkinson provides training
and development assistance to its staff
members for improving their skills and
competencies. It has an experience of many years as to
establish itself in global market. Hence,
the firm has capability to compete with
external market forces effectively.
WEAKNESSES
 Due to economic crises, UK's economy
is going downwards in past few years.
So as customers are not spend more on
luxurious products and services.
 Wilkinson has limited market share
because of new entrants and rivals.
OPPORTUNITIES Now customers are more aware and
conscious towards brands and quality
of products, i.e. Wilkinson also focuses
on providing value added and
qualitative trades (Lipsman and et. al.,
THREATS
 Increasing in commodity prices cause
of profil margins.
 Strong market competition.
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2012).
Target market
In this stage, a company focuses on identifying its target market in which it will be
performed. It helps managers so as they can find target audiences on the basis of choices,
preferences, taste, cultural, sizes etc. Wilkinson main focuses on men and women, therefore it
produces those products which are able to meet needs and wants of customers. Apart from this,
in target market, a company also emphasis on taking feedbacks and reviews about the quality of
products so as managers can make essential improvements.
Marketing segmentation
In market segmentation, buyers are segregated into different categories on the basis of
age, gender, cultural, race, religion, morals and believes etc. Then the referred company has
produced its products on the basis of same. Marketing segmentation also helps in increasing
sales and profits of the firm in best possible manner.
Marketing budget
Particulars 1st Year 2nd Year 3rd Year 4th Year 5th Year
Initial money 60000 12500 14000 16800 18000
Investment 14000 12000 11500 12300
Total 60000 26500 26000 28300 30300
Marketing
expenditures
Advertisement 5000 3000 6000 4000 8000
Sales
promotion
3000 2000 4000 2500 3000
Total 8000 5000 10000 6500 11000
Available
balance
52000 21500 16000 22300 19300
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Monitoring and controlling
At last, managers monitor and evaluate all plans and policies so as to calculate their
efficiency. In this,managers are focused upon how to accomplish goals and objectives of the
company in an adequate manner.
CONCLUSION
From the above mentioned report, it has been concluded that marketing plays a
significant role in promoting products and services of the firm. It generate value for customers
for which they will be pay. Apart from this, the assignment has included roles and
responsibilities of marketing functions. There is discussion upon how marketing department of
the company is related with its other functional units. Marketing mix of Wilkinson and Tesco is
created; a marketing plan is developed so as to evaluate future marketing situation. This will
helps a firm in order to compete with external market factors.
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Online
The Marketing Mix 4P’s and 7P’s, 2017. [Online]. Available through:
<http://marketingmix.co.uk/>. [Accessed on 11th September 2017.
Marketing Functions, 2017. [Online]. Available through: <
https://www.pinterest.com/keyounggill/marketing-functions/>. [Accessed on 11th
September 2017.
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