Marketing Mix Strategies for Business Success

This assignment delves into the concept of the marketing mix and its crucial role in achieving business objectives. It examines various elements of the marketing mix, including product, price, promotion, and place, highlighting their influence on consumer decisions and overall business performance. The document also discusses the importance of adapting marketing strategies to specific market conditions and uncertainties.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
P1 Roles and responsibilities of Marketing function..................................................................1
P2 Roles and responsibilities of marketing in organizational context........................................2
P3 7p's of marketing mix determined by business to attain organisation goals and objectives..3
P4 Attached in Power point presentation....................................................................................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing essentials plays a vital role in growth and development of business. It is
important for the organisation for managing its performance according to changing external
environment. The report will analyze marketing function of marketing manager of leading retail
enterprise of UK that is Tesco. The entity deals in various kind of essential like, food products,
grocery, home, and beauty. Further, the report will evaluate responsibility and roles of marketing
department in all other organizational department. Thus, it will identify 7p's of marketing mix
which assist the firm in attaining business objectives and goals.
P1 Roles and responsibilities of Marketing function.
Marketing function act as tonic for Tesco as in this the marketing manager plays vital
role in implementing changes according to market fluctuations. The major role and responsibility
of manager is to enhance the image of its products and services across the globe. The major
responsibility of Tesco's manager in marketing functions are as follows:
Conducting market research: In this manager analyses the need and wants of consumers
according to changing trends and preferences. This is done at the time when the demand and sale
of particular products starts decreasing. Hence, this is done by primary source of survey in which
the marketing team of retail, directly communicates with consumers through emails,
questionnaires etc. (Satit, Tat and Sukati, 2012).
Developing marketing strategy: In this the major responsibility of manager is to
formulate effective marketing strategies according to the techniques used by rivalries. Strategies
of Tesco aims at attracting consumers which comprises, Schemes, Discounts and offers for
limited period. Moreover, making use of effective marketing strategies assist the organisation in
attracting consumer towards its services.
Developing relation with customers: It is important for the company to have strong
consumers base and for this the marketing manager of retail organizations aims at maintaining
friendly relation with its consumers. Further, to improve consumer relation Tesco focuses on
various promotional campaigns in which it offers free trial of some new products in order to earn
loyalty of buyers (Taneja and Toombs, 2014).
Improving services: In accordance to this the responsibility of marketing manager is to
evaluate strengths and weakness of its products and services by conducting market research.
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Moreover, in this the ultimate aim of supermarket is to analyze profits and sales to ensure
increasing return by establishing improvement in services.
Communication: The major responsibility of marketing manager in marketing function is
to establish effective communication with organizational department and consumers (Shankar
and et. al., 2011). Interaction with all the units and external environment ass it the company in
formulating strategies according to requirement.
Sales Support: The most important responsibility of marketing manager is to coordinate
and cooperate efforts with sales unit as it helps in determining the need of changes according to
market fluctuations. Further, the sales activities of the retail help the marketing manager in
evaluating the need of innovation according to changing preferences of buyers.
Hence, the key elements of marketing function which are major responsibilities of
marketing manager comprises personal selling, advertisement, attractive packaging and
maintaining public relations.
P2 Roles and responsibilities of marketing in organizational context.
Interrelation and connection between department of organisation plays an important role
in enhancing the services of business. The responsibility of Marketing manager of Tesco is to
establish communication with all other department to make coordination and cooperation
between business operation in order to serve consumer satisfaction. The interconnection of all
departments with marketing units are as follows:
Human resource department: HR department is the back bone of an organisation as it
ensures that there are adequate number of capable and skilled employees. Therefore, in Tesco
when marketing manager identifies the necessity of manpower for expansion plan it passes on to
HR manager which focuses on recruiting and hiring employees according to requirement (Jung
and et.al., 2013).
Finance Department: This department in Retail ensures fast and smooth flow of funds in
order to establish smooth functioning of business operations. Coordination between marketing
and finance department is the major role in which manager communicates need of investment for
particular marketing strategies for which the finance team make sure that there are satisfactory
amounts of funds available in all units (Liu and et.al., 2017).
Production Department: The production department of Tesco ensures that products are
according to taste and preferences of consumers. The communication between marketing and
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production team act as tonic for the business as in this the production team make sure that the
commodities are produced according to requirement and market trends with cost effective
strategies in order offer goods and services to buyers at affordable prices.
Research and development: This department analyses effective strategies and cost
effective technology and communicates it to marketing team which helps manager in easily
analyzing the consumer requirement (Malshe, Sohi, and Krush, 2017). The interaction with this
department assist the company in identifying various techniques of managing time, making
optimum utilization of resources and evaluating the best strategies in accordance to rivalries.
Sales department: Coordination between sales and marketing team plays a vital role as
the department assist the organisation in determining the consumer demand for particular
products and need of changes (Meyer, 2016). Further, by regularly connecting with sales team
marketing manager of Tesco evaluates the need of changes in its services in order to serve
customer satisfaction.
P3 7p's of marketing mix determined by business to attain organisation goals and objectives.
Analysis of marketing mix factors Tesco in comparison to its competitors like Sainsbury
Aldi assist the firm in attaining competitive advantage and accomplishing business goals and
objectives.
Products: The products base of Tesco comprises food, clothing, electronics. The
branding of Tesco provides its consumers various choices according to its competitors like,
Sainsbury and Aldi. These companies have their own branded products which limits the choices
of buyers.
Price: The pricing strategy of Tesco is based on the demand for particular products but it
generally focuses on selling its services at affordable prices. However, the biggest rivalries Aldi
offers products at lowest possible price due to which the company holds major advantage.
Place: Tesco has various kinds of products according to which its has differentiated
Stores like, Tesco Superstore, Home plus, Compact, Express, Metro etc. In comparison to Aldi
company has easy availability for its buyer due to which its has consumer base and large market
share.
Promotion: For promotion the company uses various marketing tactics like, attractive
packaging, schemes and discounts (Hastings and Domegan, 2013). The biggest rivalry of Tesco
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that is Aldi also uses various marketing strategies to grab consumer attraction because which it
also has loyalty buyers.
People: The employees of Tesco are regular training and guided various communication
and behavioral techniques due to which the management of stores treats consumers as god and
focus on delivering friendly services (Helm and Gritsch 2014). In comparison to Aldi the biggest
competition in supermarket industry Tesco lacks few effective communication skills due to
which the consumers base of Aldi is increasing continuously.
Physical Evidence: Stores of Tesco are located at all prime location due to which its has
strong control over its competitors. The easy availability of products at stores helps the
organisation in serving consumer satisfaction.
Process: The process of Tesco are consumer friendly. Moreover, the online services and
the process of providing services is very effective and efficient (Hisrich and Ramadani 2017).
Further, the services and process of ordering products from Tesco has very easy and smooth
process due to which the company has increasing profits from its online and offline sales.
P4 Attached in Power point presentation
MARKETING PLAN
Marketing plan is a backbone to marketing functions as it helps the management in determining
its own weakness and strengths according to changing market situations.
The marketing team of Tesco makes appropriate market plan to implement effective techniques
and strategies to accomplish organizational goals and objectives.
Marketing plan is made by the company to make innovation in already existing products and for
creating new commodities according to consumers requirement.
Strength The major strength of retailer lies in its leading position.
The effective online services of Tesco is continuously enhancing its
consumer base.
Weakness The decreasing financial performance from past few years is major
weakness of Tesco which is damaging its market reputation.
Weakened worker's morale and performance.
Opportunities Expanding business operations across international boundary it's the
major opportunity which can assist the retailer in improving its
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efficiency and effectiveness.
The company can focus on developing non retail products in order to
increase its market.
Threats The enterprise is unable to maintain competitive advantage.
The fluctuation in currency is the major threat which is interrupting the
leadership position of Retailer.
Political The changing tax regulations of UK has affected operations of Tesco as
the rates increased from 17.5 % to 20 %. Further, the government has
enacted new law of fat tax to control the health diseases of obese
population sue to which the sales revenue of company has decreased as
now it is focusing on launching healthy food range.
Economic The financial crisis on UK economy are improving which demonstrate
positive change for retail business.
On the other hand the economic recession is increasing unemployment
and is decreasing consumer spending over products.
The drift buyers preference due to pricing is fluctuating the revenue
growth of Tesco.
Social The consumer opinion towards products impacts the profitability of
organisation for a long run. For instance the horse meat scandal and
wrong advertising has impacted the consumers base of retailer.
Thus, it is important for the marketing team to protect consumer rights
when advertising and promoting products and services in market.
Technological Advancement in technology impacts the efficiency and effectiveness of
management system.
The disruptive technological changes are impacting the ability of
performing functions as adapting every advanced according to
consumers demand interrupts the business operations.
Environmental The increasing effects of Global warming are disturbing the stability of
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environment for which now the Tesco is responsible of using
environmental friendly products and methods of production like,
reduce, reuse and recycle.
The minimum use of harmful gases and utilization of resources green
house gases.
Legal There are various products of Tesco which are affected by legal
framework of the country.
The organisation is bound to comply with labor law, tariff rates,
employment law etc.
CORPORATE OBJECTIVES
 Maximizing profits
 Increasing market share
 Improving effectiveness of products and services.
MARKETING OBJECTIVES
 To increase consumer base with every new product.
 To increase profits and revenue with every new products.
 To evaluate the changing taste and preferences of consumers.
 To increase awareness about its grocery products.
MARKETING STRATEGY
The marketing strategy of Tesco are focused on enhancing the and creating awareness about its
products and services.
Marketing strategies are the tactics used by the organisation to establish communication with
consumers in order to evaluate the market requirement.
The marketing strategy used by Retailer to create awareness about the products are, advertising,
promotional campaign, newspaper, magazines etc.
MONITORING AND CONTROLLING TECHNIQUES
 To make optimum utilization of resources.
 To measure the effectiveness of actual performance and market plan.
 To evaluate more and more effective marketing strategies to attract more and more
consumers.
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 To regularly analyze changing taste and preferences of buyers.
The marketing plan of Tesco comprises various steps which includes all the necessary strategy of
accomplishing organizational goals and objectives.
The marketing plan comprises macro and micro analyses of leading retail enterprise which is
done through Swot and Pestle analysis.
CONCLUSION
The report summarized the importance of marketing essential in which its states that
marketing function plays a vital role in enhancing the value goods and services of organisation.
Further, the report analyzed the marketing function of Tesco's marketing manager in order to
improve marketing strategies, enhance, consumer bases and supporting sales of specific
products. Moreover, the report outlined the marketing mix factors which assist the company in
accomplishing business goals and objectives.
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REFERENCES
Books and Journals
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Hastings, G. and Domegan, C., 2013. Social marketing: From tunes to symphonies. Routledge.
Helm, R. and Gritsch, S., 2014. Examining the influence of uncertainty on marketing mix
strategy elements in emerging business to business export-markets. International
Business Review. 23(2). pp. 418-428.
Jung, S. E. and et.al., 2013. Formative Assessment using Social Marketing Principles to Identify
Rural Older Oklahomans’ Perspectives of Health. Journal of Nutrition Education and
Behavior. 45(4). pp. S32-S39.
Liu, Y.,and et.al., 2017. The Effects of Products’ Aesthetic Design on Demand and Marketing-
Mix Effectiveness: The Role of Segment Prototypicality and Brand Consistency. American
Marketing Association.
Malshe, A., Sohi, R. and Krush, M., 2017. A Motley Pattern Of Sales-marketing Integration.
In The Customer is NOT Always Right? Marketing Orientationsin a Dynamic Business
World. Springer, Cham. (pp. 718-720).
Meyer, P.H., 2016. A Parish Guide to the Use of Creative Problem Solving in Marketing Plan
Development.
Satit, R.P., Tat, H.H., and Sukati, I., 2012. The relationship between marketing mix and customer
decision-making over travel agents: An empirical study. International Journal of
Academic Research in Business and Social Sciences. 2(6). p.522.
Shankar, V. and et. al., 2011. Innovations in shopper marketing: current insights and future
research issues. Journal of Retailing. 87. pp.S29-S42.Breton, G. C. and Martín, M. O.,
2011. International market selection and segmentation: a two-stage model. International
Marketing Review. 28(3). pp.267–290.
Shankar, V. and et. al., 2011. Innovations in shopper marketing: current insights and future
research issues. Journal of Retailing. 87. pp.S29-S42.Wang, Y., 2017, July. Research on
Project Management in Enterprise Marketing. In Modern Management Forum (Vol. 1).
Taneja, S. and Toombs, L., 2014. Putting a face on small businesses: Visibility, viability, and
sustainability the impact of social media on small business marketing. Academy of
Marketing Studies Journal. 18(1). p.249.
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Hisrich, R. D. and Ramadani, V., 2017. Entrepreneurial Marketing Mix. In Effective
Entrepreneurial Management. Springer International Publishing. (pp. 75-99).
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