Marketing Essentials - Vodafone Assignment
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Added on 2021-02-20
Marketing Essentials - Vodafone Assignment
Added on 2021-02-20
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MARKETINGESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................3LO 1.................................................................................................................................................3Roles and Responsibilities of Marketing- ..................................................................................3Interrelationship between marketing and other units of an organization-...................................5LO 2.................................................................................................................................................6Difference between Vodafone and British Telecom on the basis of 7 P's-.................................6LO 3.................................................................................................................................................7Importance and value of Marketing Plan-...................................................................................7SWOT analysis of Vodafone-.....................................................................................................74 P's of Marketing- .....................................................................................................................8STP analysis of Vodafone- .........................................................................................................8Financial planning.......................................................................................................................9Monitoring and Controlling-.....................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing is the study of promoting and selling products through advertising and research anddevelopment to satisfy the consumers. Vodafone is British multinational public listedconglomerate which is situated in London. The company is serving its network across 25countries and is ranked at 4th position globally. It offers unified communications , cloudcomputing, their global enterprises serves in 65 countries. Company has even launched thecheapest mobile of the world which was known as Vodafone 150 and the pricing of the productwas around $15. they also have services like mobile money transfer and m health service. Thequestions covered in this project are SWOT analysis, STP , Mission, vision and objectives<differentiation between Vodafone and British Telecom on the basis of 7 P's their financial planand their marketing plan in relation with HR, Finance and research and development. LO 1Roles and Responsibilities of Marketing- Finding the Best Distribution Channels- Distribution is concerned with making goods available into the market for the prospectivebuyers. As Vodafone is a multinational company and operates in different countries to generatehigher revenues it is difficult to establish an effective distribution system in an interconnectedworld so they have open up their own centres and shops to serve their products and services fortheir target customers and setting up an effective distribution process like this, it helps Vodafoneto earn higher profits.Financing an Enterprise- To make more money Vodafone is emphasizing on taking out the money through investments,loans or capital for innovation of new products and their promotion.Market Research-
Vodafone gathers information which concerns to their prospective buyers so that they can ensurethem why choose them over their competitors and to come up with up that an analysis orresearch is needed to be done.Setting Prices- Vodafone keeps a balance between price so that they don't charge more and loose customers anddon't set their prices too low that they ran out of money.Product and Service Management- After determination of prices the goal of Vodafone is tomange their services, listen and responds to their needs and wants of customers and keep theirservices up to date accordingly. Promotional Channels- Vodafone is familiar with the importance of promotion. So Vodafone believes in advertisingmore to attract more customers and retain existing customers.Matching Products to Customers- After determining and considering all the factors according to the needs and wants of customersthey make their services according to them and then sell into the market. Roles and Responsibilities of Marketing in Relation with Marketing Environment-In case of a wider organizational approach of Vodafone marketing has different roles andresponsibilities. Gathering and analysis of market is the first role and responsibility of marketingas it helps in identifying the taste and preferences, their liking's and demand accordinglyregarding advertisements. It helps in achieving organizational objectives and targets by creatingdifferent strategies.When it comes to design or develop products and services. Thus they have introduced Vodafonedoodle to introduce their services with them as it is a different idea to announce their servicesand plans and creates a different identity for the brand and increase its value and for this reasonmost of the people know about Vodafone. Vodafone has various units which functions in departments like research and development,finance, customer service and many others. Finance department helps Vodafone in bringingprofits and this department helps in setting target and objectives of the company for the comingyear. (Kerr and Moloney, 2018)Customer service helps the department to understand views and perceptions of the customerswhereas department of Research and Development gives different reports to the team of
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