· · · · · · · · · TABLE OF CONTENTS INTRODUCTION...........................................................................................................................2 TASK 1A.........................................................................................................................................2 Processes and stages of marketing including the role of the marketing mix...............................2 The role of marketing in creating value for customers................................................................4 Stakeholder engagement and their impact on the marketing activities of an organization.........6 TASK 1B.........................................................................................................................................7 Conclusion and reflection of the tactical communication tools to generate awareness..............7 CONCLUSION................................................................................................................................8 REFERENCES................................................................................................................................9 · · · ·
·INTRODUCTION Marketing refers an important process and action that helps organization in promoting and selling their products by effective market research (Kerin and Hartley, 2015). This present essay is based on Tesco Plc that is a British multinational grocery. Headquarter of this company is in Welwyn Garden city. This essay is going to show about stages of marketing that is being followed in proper manner for accomplishing goals. It will also show about importance of marketing mix and all 7P's which helps customers in making purchasing decisions. Marketing functions do not only have positive impacts but also have some negative impacts if the company do not follow them in an effective order. Further this essay will show about stakeholder matrix on which basis the company makes its strategies and perform its marketing functions. ·TASK 1A ·Processes and stages of marketing including the role of the marketing mix According to (Kotler and et.al., 2015) marketing can be defined as a process and action of promoting brands and products of an organization by doing market research and advertising. It is an important function for any type of organization because it helps the company to develop demands and sales for their products and services and fulfilling customers' needs. As per the view of (Martynenko, Lysytsia and Prytychenko, 2018) it is stated that marketing processes involves 5 steps which plays an important role for completing marking functions successfully. It includessetting a clear vision,analysing internal factors, target audience, analysis of required resources and take actionable metrics. They said that developing vision before marketing strategy is vital to marketing success and by developing a clear vision, Tesco and other organization can attract the right strategy. 1ststage is setting aclear visionand thentarget audienceis an important process of marketing. With the help of clear vision the company can propel their marketing and on that basis it performs its further functions. After setting out clear vision it is important for the company toanalyse all internal factorswith the help of SWOT analysis. This analyses of internal factors support an organization to take competitive advantages.
Pestle is the analyses and framework that helps in identifying the different external factors and their impact on the TESCO. It is analysed and monitored to have a profound impact on the performance of the organisation. Furthermore, the term PESTLE stands for political, economic, social, technological, legal and environmental factors. The following are the impacts of this discussed below: ·Political factors:The political factors are concerned with the intervention of the governmental factors where it includes rules and regulation set by the government of the country, subsidies, taxation, terrorism, etc. If the tax prices minimises then this will have impact the TESCO positively, because with this the company will be able to increase its sales and also export becomes relatively cheaper which will enhance the growth opportunities for the company. ·Economic factors:The economic factor relates to the description of financial stability and level of profitability which the company is earning. It includes factors like inflation, deflation, recession, etc. So, during the period inflation when the rate of inflation will be high, then this will have negative impact on operations and functioning of TESCO because prices of all the products will went up and customers will focus on spending their disposable income on useful products only. Furthermore, this will have adverse impact on the organisation. ·Social factors: The social factor relates to the changes in tastes and preferences of the customers. It involves factors like social belief, demographics, age, gender, religion, etc. This will have positive impact on TESCO because of the changes in needs and demands of the customers, thecompany willbe focussing towardsinnovationon regularbasis that will ultimately help them in competing. ·Technological factors:The technological factor is concerned with advancement in innovation and research and development department. This will have favourable impact on TESCO because with this the company will be able to invest in research and development department and new and innovative products and services will be produced. ·Environmental factors: Such factors are gaining most crucial attention in the present business world. It involves factors like use of renewable sources of energy, work on minimising carbon footprints, etc. This will again have favourable impact on TESCO as they will work on installing solar plants in their premises in order to control the electricity, furthermore, they will adopt the paper packaging rather than plastic bags, etc.
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·Legalfactors:Thelegalfactorisconcernedwithdifferentlegislationrelatingtothe employment, customers, etc. This will have favourable impact on TESCO as by adopting the different employment laws, the workforce will remain motivated as they will experience the protection of their rights and interest. Further the company need totarget their potential customers. It is not possible for Tesco Plc to focus on different needs of customers at a time, so they need to target a specific segment. By dividing market into some segments, an organization can increase sales and productivity.After targetting customers, the next step of marketing is to segment the market on the basis of demographics, gender, etc. For instance, the segmentation which will done on basis of income will going to target those people who have middle and higher income people, on the basis of gender, it will target both men and women who are working, on basis of age, the TESCO provides products for all age group people, from children to the adults and to the senior citizen as well. After thisanalysis of all required resourceslike distribution channels. The main aim of performing this stages is to deliver products to customers before deadline and efficiently. (Colicev, Kumar and O'Connor, 2019) argued and said that for making a marketing function more successful there is essential for the company to follow more few processes. Rather, then above discussed 5 stages it includesconducting a marketing audit, determining a budget, developing an implementation schedule and creating an evaluation process. It interpreted thatmarketing auditplays a significant role in the process of marketing because it makes the company understand and review about all marketing activities that have occurred in the company's marketing practices over the past 3 years. Bymaking marketing budget, Tesco Plc can outline all its expected costs for implementing marketing plan. The main importance of following this stage is to perform all functions of marketing in effective manner on the basis of budget. For supporting this view (Payne, Frow and Eggert, 2017) also said thatevaluation and implementation schedulealso plays important role in the process of marketing. The company can develop its strengths and make changes inthe process of marketingbymarketing implementation. In this stage, Tesco Plc requires to implement all its developed plans and
strategies for accomplishing marketing objectives. By following the lastmarketing control process, it can evaluate performing results and make further changes if required. In the context of role ofmarketing mix (Masabanda Guanin, 2019)stated that 7p's of the company like product, place, pricing strategy and promotion plays a vital role in marketing of the brand. All these elements provides a convenient framework to the company about choosing the best marketing strategy.Products and priceshows customers that what is the company is going to sell at what prices. It can also help them to make buying decision by comparing these marketing elements of Tesco with other retailer. For supporting this view (Boisen and et.al., 2018) interpreted that marketing mix brings different concepts of marketing into one and make marketing function easier.Place and promotionof marketing mix helps customers to know about locating from where they can get products. Place refers to the geographical location of the availability of products which Tesco Plc sells. Promotion includes advertising, sales promotion. It includes all those activities that can help the company in increasing their sales by introducing their products to customers. On the other hand (Loo and Leung, 2018) said that physical evidence, people and process also plays a vital role and without these 3p's an organization can not complete its marketing mix. Physical evidenceshows products details like delivery and packaging date which is considered by customers while purchasing products.Peopleinvolve all employees that work with products and make them available to customers.Processin marketing mix also plays a vital role because it shows customers about ingredients and process of making products and services. For arguing these views, in the context of importance of marketing mix it is stated by (Shaw, 2016) that With the help of marketing mix, the company can not consider their potential customers' behaviour because marketing mix considers customers as passive and not capture relationship. l壱The role of marketing in creating value for customers According to the (Gemser and Perks, 2015) customers value can be defined as the degree of satisfaction of customers have towards an organization products. Marketing is the main function that can help Tesco plc in creating, communicating and delivering value to customers. In the context of role and importance of marketing (Lindsey Hall and et.al., 2016) stated that it creates value for products and services as itmeets target customers needsand creates
interest in the company's offering. In addition, they said that marketing function provides all details of products and services like features, characteristics to customers. It also explains that how that all features will benefit the customers.The ultimate aim of performing marketing functions is to sells of products in a way that can increase satisfactions of customers needs. For more supporting this view (Zhu and Chen, 2015) said that marketing helps customers in understanding that why theyneed the products and services. For example, Tesco Plc provides several products like clothing, furniture, financial services, internet services etc. There are several other supermarkets and retailers who offer all these products, so customers have numerous choices. Marketing and all its functions help customers to understanding and believe them that they must have Tesco's products because they fit their needs. So it can be said that marketing is an integral that can create value for customers and influence them about buying products. In contrast, (Fuciu and Dumitrescu, 2018) said that there are several disadvantages of marketing and it is not the only one who can create value for customers because there is a lack of attention in marketing. For example, middlemen and marketing agency work with several organizations at 1 time, and they have several clients. Due to having lots of clients, marketing agency often give less attention to each customer by which the company may have to suffer. After influencing customers about company's products, marketer do not respond to phones, E- mails and their queries which can decrease customers experience. (Dale and Plunkett, 2017) discussed some drivers and elements which plays a vital role in creating customers value in the context of marketing. It includes quality, branding, products functions and points of differentiation. The main important factor which is being considered by customers while making buying decision is quality of products. In the process of marketing, the company focuses on introducing its products' features and quality to customers. Customers do not consider only prices but also focuses on non-price terms like efforts, time, convenience, energy etc. (Aschemann-Witzel and Zielke, 2017) argued and said thatpricing of products and adapting the right priceplays important role rather than quality of products. Customers make buying decision on the basis of prices of company's products and services. So it is important for the company to focus on pricing strategy rather than quality in the process of marketing. So it
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can also be said that the most important factor in all elements of marketing process is price which can create value for customers. As per the views of (Davcik and Sharma, 2016) Other roles and importance of marketing is itmanages customers expectations andincreasecompany's reputation. The main reason of company's success is its brand image and reputation. Marketing helps them in accomplishing their goals because its all functions are customer centric which satisfy them, Hence it can increase Tesco Plc reputation. It can also help in takingcompetitive advantages.Marketing helps the company to maintain balance of its customers' expectations and competitors offerings by monitoring the market closely. So it can be said that market research function of marketing can help the company in taking competitive advantages. l壱Stakeholder engagement and their impact on the marketing activities of an organization A stakeholder matrix refers an effective tool that is being used to analyse a project stakeholder in order to determine their actions which can impacts on marketing activities. Stakeholder engagement helps the company in identifying and developing marketing strategies. Different types of stakeholders have different impacts on the marketing activities of Tesco Plc. With the help of stakeholder engagement assessment matrix, the company can analyse the direction of stakeholder engagement and their impact (Bourne, 2016). According to this matrix there are 5 categories such as unaware, resistant, neutral, supportive and leading. All stakeholders of Tesco Plc like government, employees, customers are being classified into their current and desired status. This status helps the company in knowing their impacts on marketing activities. Level of engagement and impacts of stakeholders are being described as below: Unaware: It includes all those stakeholders of Tesco Plc who are not aware about marketing activities and project of the company. These stakeholders can decrease the sales of the company so it is important for Tesco to focus on these stakeholders the most. Resistant:It includes all those stakeholders who are aware about marketing functions and their impacts, but they resist changes. It can also impact on the company to the company less than unaware stakeholders. Neutral:It involves all those stakeholders of Tesco Plc like customers who are aware of marketing project and their impacts but neither support nor resistant to company. These type of
stakeholders do not impact marketing activities in a negative manner, so there is no need to focus and develop marketing strategies for these type of stakeholders. Supportive:These type of stakeholders are aware of project of the company and also support them about changes. These type of stakeholders have positive impacts on marketing activities. By more focusing on these type of stakeholders, Tesco Plc can remain them loyal within an organization for the long run. Leading:It includes all those stakeholders who are aware about company's project and actively participate in making changes. It may include business partners and shareholders of Tesco. So it is important for the company to focus on providing more developed services for being them loyal and stay within an organization for the long run. So it can be said that according to the stakeholder engagement level, the company can make changes and develop their marketing strategies for increasing sales and accomplishing goals (Herremans, Nazari and Mahmoudian, 2016). There is a requirement for the company to more focus on unaware and resistant types of stakeholders because they can impact negatively on marketing activities. ·TASK 1B l壱Conclusion and reflection of the tactical communication tools to generate awareness It can be said that tactical communication tools plays an important role in generating awareness about marketing. Marketing functions can be successfully done only when marketer communicate their products amongst segments of people in which the company can maximize its profit. Communication tools includes E-mail, telephones, computers, video, search engine optimization etc. I can say that all these communication tools help the company in building relationship with its customers and making them aware about their products and services (Camilleri,2018).Therearesome importanceofusing tacticalcommunicationtools for generatingawarenessinthecontextofmarketing.Itcanalsobestatedthattactical communication tool is being used when the company wants to plan and manage a rapidly changing communication network in a high stress environment.
In the context of marketing, there are several tools of communicating with customers which can help the company in generating awareness such as: Social media: This type of marketing is being done via some social media platforms like Facebook, Instagram etc. I can say that it is the most trending way and tool of communicating with people in the context of marketing. By providing video ads, viral content companies can increase and communicate effectively with their target customers. E-mail:It is also called an effective marketing tactics and communication tool. I believe that this tool can help Tesco Plc in building brand awareness as well as converting E-mail recipients into potential customers. E-mail goes directly to an individual's inbox, so there is very fewer chances for a message to get missed as compared to other communication tools. If we compare E-mail to other communication and social media tools then we can say that there (other platforms) are more chances of ignoring and getting missed out of posts and marketing messages by customers. Search engine optimization:In the context of search engine optimization, it can be said that a marketer can help increase SEO by publishing quality content and by using strong keywords that can specify their brand and can make sense for web searches. So it can be said that all communication tools can help any type of company in increasing brand awareness amongst targeted audience. Most of the people spend their lots of time on internet and all these are the best tools for communicating and interacting with people in order to influence them and making them aware about products. ·CONCLUSION From the above study it has been summarized that marketing functions played a vital role for accomplishing pre determined goals and increase sales. This essay has also shown that marketing function do not only have positive impacts but also can have negative impacts on the productivity and image of the company. It all depends on the way of following stages of marketing. All stages of marketing like targetting customers, setting a clear vision, making budgethelpedorganizationtoincreasetheirsalesandtakingcompetitiveadvantages.
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Stakeholder engagement also impacted on the marketing activities because all activities and functions of marketing are played for stakeholder and are customer oriented. ·
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