Marketing Plan: Physical Evidence and Process

This assignment requires students to create a detailed marketing plan with a primary focus on physical evidence and processes. Using the provided references, you'll analyze corporate entrepreneurship, market orientation, environmental performance, global marketing, mobile location-based services, sports virtual brand communities, TQM techniques in sport organizations, and other relevant topics. The final plan should demonstrate your understanding of these concepts and how they can be effectively applied in a practical marketing context.

MARKETING
MANAGMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
1. Define the term marketing segmentation, justify segments that organisation should target in
future marketing operations....................................................................................................1
2. Internals and external analysis on the TESCO and two matrix. ........................................2
3. Recommending Key marketing mix activities...................................................................6
4. Evaluating the way recommended marketing mix activities should be strategically
planned..................................................................................................................................7
5. Outlining the key areas of study.........................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
It is the kind of study and management of exchange relationship, it is helpful in order to
promoting and selling product and services. Thus, it can be taken as one of the premier element
of business management. Marketing is the activity which is consists of various elements with the
help of which business function can be perform in appropriate manner. It is the kind of business
discipline which puts their major focus on the practical application of marketing techniques,
management of the firm, marketing resources and activities. The main aim is to provide right
product to the right customer. The present report will outline the business activities of Tesco, it is
retail sector and engaged in distributing its services so that firm can able to capture maximum
share in market. This report will cover the following things as are market segmentation, Internal
and external market environments, Twos matrix, key marketing mix activities etc. this all are
helpful in order to carry marketing function in appropriate mode so that large amount of
profitability and productivity can be generated.
TASK 1
1. Define the term marketing segmentation, justify segments that organisation should target in
future marketing operations.
The term Marketing segmentation is referred as division of broad consumer and business
market and its consists of the potential customers into sub groups of consumer this kind of
activities can be known as marketing segmentation. It can be done on the basis of differed
characteristics in market. It is depends on the belief that market for each segments is need to be
done so that goals and objectives of the firm can perform their activities effectively. It is the
technique which used by the organisation to narrowing down large audience target. With the help
of effective segmentation the firm is able to target the segments by analysing the specific need of
the customers. Thus, it can be said that marketing segmentation is one of the effective process in
order to determine the plan of action. In this way there are kind of marketing segmentation
process and this is defined in the following manner as are-
Behaviour segmentation- Under this market segmentation works as to have proper division of
the population on the basis of behaviour and pattern of decision making. There are various
individuals who belong to different age, in this manner they are having differed choices in order
to meet this all produce need to segment the market activities on the basis of behaviour of
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customer. The Tesco need to provide those products to their buyer on which they can trust. The
loyalty on the one particular brand helps them to classifying each smaller groups towards the one
particular brand.
Psycho-graphic segmentation- It is that kind of segmentation which works as per the lifestyle
of people, interest, activities and various other things called as market segments. The behavioural
segmentation and psycho-graphic segmentation are quite similar to each other. It is also
dependent on the consumer buying behaviour. In this there are various kinds of aspects are
included as are social standing, consumer lifestyle so that each activities can be undertaken in the
effective and efficient mode. In this division is need to be done on the basis of the lifestyle of the
customers in the market. In this there are various activities are included as are individual's
attitude, interest and value.
Geographic segmentation- This term is defined as classification of market into various kinds of
geographical areas. It is very helpful in relation to have expansion of working of business
activities into the various kind of areas so that marketing function can be taken in the effective
and efficient manner.
Demographic segmentation- It is one of the simplest and wide kind of segmentation is need to
be done. In this the segmentation is need to be divided on the basis of the population based on
various kind of variable in the market. There are various kinds of variables as are age, gender,
family size etc. the Tesco need to produce there product as per the need and variable in the
market (Alonso-Dos-Santos, Guardia and Ko, 2018)
2. Internals and external analysis on the TESCO and two matrix.
The internal and external analysis are very helpful in order to analyzing the overall
position and function of the enterprise. Thus, internal activities is need to be conduct in order to
determine the performance of the firm in the market. This is defined in the following manner as
are-
Strength- It is the powerful retail brand globally. The Tesco is using the method of innovation in
their services so that firm activities can be enhanced. The strength as are providing the quality
products. In addition to this they also offer loyalty packages as are club-card they work as to
retain the customers and able to create the long term relationships with customer in the market.
Weakness- The financial performance of Tesco is not that much effective. They are more
vulnerable in relation to disposal income in the society. The brand image of the firm is adversely
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affected due to commercial income scandal in 2015. This kind of activities has also affected the
morals of employees.
Opportunities- there is wide number of opportunities, Tesco is giving major focus in relation to
expansion of business activities into the digital entertainment. Thus, it can be said that the 9th
most valued brand wal-mart is also having tough competition with the Tesco. In order to cope up
with it is essential to have the expansion of business activities. With the help of enhancement in
units the firm is able to deal with the profitability in the market.
Threats- the one of the major threat to Tesco is that there number of rivalries in the market. It
can be cope up by providing the innovative material to the customers so that image of the firm
can be enhanced. This all are helpful in relation to earn the large amount of profitability in the
market (Rexhepi,Ramadani and Ratten,2018 )
TOWS matrix
Tows matrix is derived from the swot analysis which assists in analyzing the internal
strength, Weaknesses of an enterprise and the external Opportunities as well as Threats that the
business is confronted. Objectives of Tows matrix is to help marketing manager in identifying
the several strategic options which can be helpful in achieving the marketing objectives by firm.
Tows analysis is considered to be as an effective tool which is generally utilized by marketing
team in an organization for generating, comparing and selecting strategies.
Strength and Opportunities: The strength of Tesco is that an
organization has established business
with good market share, firm have an
opportunity to enter into new market. Business entity have strong supply
chain network, an organization can
facilitate price negotiation with
suppliers in order to get benefited. By
adopting this strategy, company will
get an opportunity to increase profit
margin. As Tesco has gained the leadership
Weakness and opportunities:
 Decrease in sales is the major weakness
of Tesco which has negative effect on
the financial performance of an
organization. But business entity has an
opportunity to increase its profitability
and sales by providing good quality of
products to customers at reasonable
price.
 Management team in Tesco is required
to concentrate on emerging health food
market. As this will help an
organization in dealing with issues
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position, business entity has an
opportunity to gain competitive
advantage by developing innovative
product. Tesco operates in big industry which is
highly competitive business entity hold
power which can be beneficial in terms
of expanding business. An organization also have wide
customers base utilizing which firm can
enter into new market. Tesco organization have high potential
to change its marketing strategies ,
business entity can change direction
quickly if we find that our marketing is
not working.
related to liquidity as well as
profitability.
 Tesco company is totally dependent on
UK market for generating revenue as
well as earning profit. An enterprise
has a chance to enter into new market.
Strength and threats:
 Company have achieved the leadership
position in the market, many of its
competitors in order to influence the
position of an organization can reduce
the prices of goods in order to increase
competition.
 Tesco have good brand image but
failure to comply with new legislation
has negative effect on the reputation of
company.
Weakness and threats :
 Low competitive strength and
ineffective marketing strategies are the
two main causes of decline in sales by
an enterprise. This factors can have
adverse impact on the finance
performance of an organisation.
 Demotivated as well as unsatisfied
employees which have negative effect
on workers as well as business
performance.
 Change in the economic situation has
direct as well as significant impact on
the prices of products, financial
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stability as well as performance of an
organization (Ramchandani, Shibli, and
Kung, 2018)
Analysis of External market environment
Pestle analysis is considered to be as an effective tool which can be used for analyzing
the market situation. This tool can also be utilized by management team in an organization for
identifying the several internal well as external marketing environmental factors which has direct
and significant effect on the marketing activities of an enterprise.
Political factors:As Tesco is operating at global level, political factors have great as well as
significant impact on the business or marketing activities. Political factors involves changes in
the laws, regulation created by political parties, taxes etc. Due to financial instability in the
country mainly retailers were forced to generate employment. In this Considering this regulation,
Tesco has planned to employ local people which has helped firm in developing the
understanding about the market situation and also helped in identifying the need of people. This
strategy has also assisted the firm in gaining the competitive advantage in the market.
Economic factors: These external environmental variables have direct as well as major effect on
the prices of products or services , financial performance of company, profit margins, demand
and supply of goods or services. It is required by management team in Tesco to keep themselves
update with changes in economic conditions as well as amendment in taxation policies. Business
entity is required to adopt flexible pricing strategies.
Social factors:Tesco company might has to face challenges due to change in shopping pattern by
customers in the market. Firm might face difficulty in making the balance between demand as
well as supply due to continuous changes in taste as well as preference by consumers. Product
development strategy is greatly affected by social factors. It is required by the marketing
manager in an organization to conduct research at regular interval of time and keep update
themselves with the latest trend. As this activity will assist marketing manager in development of
marketing plan or promotional strategies.
Technological factors:The advancements in technology have brought various new opportunities
for Tesco. Development in technology has allowed business venture to improve quality of
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products and increase working efficiency. Digital technology and internet has allowed Tesco to
reach wide number of customers. An organization has also invested a significant amount on
energy efficiency projects to fulfill its long-term objective.
Legal factors :This variable includes legislation and code of conduct formulated by government.
Legal factors have direct effect on business activities, image as well as performance of an
organization.
Environmental factors:With increased pressure on business to address environmental issues
and to adopt ways of operations which what would benefit society. It is required by Tesco to
comply with all the environmental legislation and take all necessary actions for reducing
wastage(Lee, 2018)
3. Recommending Key marketing mix activities
Tesco has opportunity to increase its market share by expanding business. The Threat is
that as business venture has leadership in the market, competitors will take high initiatives to
affect an organization. Competitors will influence the business performance of Tesco by
adopting the strategies such as cost leadership marketing plan which might have direct as well as
significant effect on sales and Profitability of TESCo. As business entity has wide customer base
it's can expand its business and enter into new market by developing innovative products.
The four marketing mix activities that the TESCO should employ in order to achieve
success in both of these in the context of the targeted segment are:
Product:It is required by tesco company to develop the products as per the needs of customers.
The growth strategies are market penetration, development, product development and
diversification. Among all these strategies Tesco can adopt product develop strategy.
Place : Tesco need to open its more outlets or branches. Business entity can also mark its online
presence and can create its own websites. As this strategy will help customers in getting the
information and availing the services or product offered by an organization. Market penetration,
development are also the strategies which can be adopted by tesco.
People: management team in Tesco should emphasizes on identifying the needs of customers as
well as employees. As these are the people who will support firm in expanding business and
achieving success.
Promotion: Marketing team in Tesco can use the online platform such as social media sites for
promoting the goods as well as generating brand awareness. As this marketing strategy will
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assist business entity in reaching to wide number of customers. It will also help an enterprise in
increasing sales and profitability (Bahadir, Bharadwaj and Srivastava, 2015)
4. Evaluating the way recommended marketing mix activities should be strategically
planned
Evaluation of marketing mix activities
Product : As per ans-off model matrix that can be utilized for identifying alternative growth
strategies by looking at present and potential products in current as well as future markets. It has
been recommended to Tesco that management team in an Enterprise need to adopt strategy of
market penetration in which Tesco can enter into new market with new item. Product
development strategy has assisted supported an enterprise in attracting more numbers of
customers. It has also provided Tesco an opportunity to develop strong relationship with client
and retain profitable customers for long term. Effectiveness of strategy is measured in terms of
information gathered from market research.
People: It has been suggested to management team in Tesco, that they should give priority to
fulling mainly the need two important stakeholders these are customers as well as employees.
This strategy or marketing mix activity has helped management team in seeking support from
workers in terms of bringing positive change within an enterprise. It has also supported business
entity in enhancing the quality of services as well as improving the business performance. With
support of employees and customer Tesco has able to expands its business at international level.
Highly skilled, talented and satisfied employees has supported an organization in facilitating
innovation at workplace. Effectiveness of strategy is measured in terms of feedback from the
partners, employees and clients.
Place :It has been suggested to tesco that, an organization should open more outlets and also
online store. This marketing mix strategy has helped business entity in increasing sales and
profitability. The placement should be done by focusing on the user of particular product or
service. Effectiveness of strategy is measured in terms of analysis of the customer response and
feedback from salesperson.
Promotion:As per the digital marketing model, Tesco can use the online platform such as social
media sites for promoting the goods as well as generating brand awareness. This strategy has
help business venture in increasing sales as well as profitability. Tesco can also implement
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Technology Acceptance Model. As this hypothesis can be utilized for testing adoption of new
technology based on positive attitudes towards customer benefit and client experience.
Tesco company is recognized as one of the most prominent international organization
across the world, yet the business operation of an Enterprise in the US market has recently seen
some critical and tough period. In the US market the company changed its core entry strategy.
The plan adopted by firm has supported organization in controlling business activities. Tesco
company has to face issues due to new as well as unfamiliar business environment. As
ineffective plans or strategy can have negative effect on the sustainability of business. The major
issue faced by the TESCo in the US market is related to standardization of product, services and
business operation. The other problems which are faced by Tesco is decline in market share,
slow growth, tough competition etc. It has been suggested to Tesco that company can change
business structure. As this strategy will help in resolving several issues (Chen and et.al., 2015)
5. Outlining the key areas of study
Task Name Duration Start Finish Predecessors
Initiation 17 days 05/10/18 5/13/18
Development of market
plan 10 days 05/10/18 5/23/18
Determining the need
of resources 7 days 5/22/18 Tue 05/29/18 2
Establishing marketing
aims and objectives 5 days 5/22/18 Thu 5/28/18 2
Market Planning 7 days Fri 5/30/18 05/09/18
Market segmentation 2 days 05/04/18 04/06/18 3,1
Internal as well as
external analysis 2 days Fri 5/29/18 06/03/18 4
WBS structure 4 days 05/04/18 05/09/18 4,3
Planning of budget 1 day 09/10/18 05/11/18 4
Implementation 22 days 04/12/18 06/02/18
Quality assurance 6 days 06/02/18 06/08/18 5
quality review form 6 days 06/08/18 Tue 6/14/18 6
deliverable register 15 days 06/14/18 Wed 6/29/18 5,6,7
risk management 1 days 06/29/18 Thu 6/30/18 8
cost management 1 days 06/30/18 07/01/18 9
Analysing market risk 2 day 07/01/18 07/09/18 9
Monitoring and
controlling marketing
12 days 07/12/18 07/18/18
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activities
Integrating change
control 2 days 05/03/18 Fri 5/4/18 10
Controlling and
monitoring the project 1 day Fri 4/20/18 Fri 4/20/18 11
Measuring effectiveness
of plan 2 days Wed 4/18/18 Thu 4/19/18 12
Closure of project 2 days Thu 5/3/18 Fri 5/4/18 19
evaluation of plan 2 days Thu 5/3/18 Fri 5/4/18 13
Modification in
marketing strategies as
well as plan.
2 days Thu 5/3/18 Fri 5/4/18 13
CONCLUSION
It has been concluded from the report that marketing management and controlling
promotional activities is very important. The study has highlighted the very segmentation which
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can be used by Tesco for categorizing the market in systematic manner. It has concluded from
the assignment that Tesco is performing well in the market, but still there are few areas where
improvement can be made by an organization. Report has provided the several strategies which
can be adopted by Tesco for converting weakness into strength. These plans are also helpful in
terms of covering risk into opportunities. It has been suggested to marketing manager that he
should include three more elements such as price , physical evidence and process in the
marketing plan.
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REFERENCES
Books & Journal
Barrett, H. and Weinstein, A., 2015. Corporate entrepreneurship, the marketing mix, and
business performance. In Proceedings of the 1997 Academy of Marketing Science (AMS)
Annual Conference. Springer International Publishing.
Chen, Y. and et.al., 2015. Linking market orientation and environmental performance: The
influence of environmental strategy, employee’s environmental involvement, and
environmental product quality. Journal of Business Ethics. 127(2). pp.479-500.
Cochoy, F., 2014. The American Marketing Association: A handrail for marketers and marketing
history. Journal of Historical Research in Marketing. 6(4). pp.538-547.
De Mooij, M., 2013. Global Marketing and Advertising: Understanding Cultural Paradoxes:
Understanding Cultural Paradoxes. Sage Publications.
Dhar, S. and Varshney, U., 2011. Challenges and business models for mobile location-based
services and advertising. Communications of the ACM. 54(5). pp.121-128.
Alonso-Dos-Santos, M., Guardia, F.R., Campos, C.P., Calabuig-Moreno, F. and Ko, Y.J., 2018.
Engagement in sports virtual brand communities. Journal of Business Research.
Rexhepi, G., Ramadani, V. and Ratten, V., 2018. TQM techniques as an innovative approach in
sport organisations' management: toward a conceptual framework. International Journal
of Business and Globalisation. 20(1). pp.18-30.
Ramchandani, G., Shibli, S. and Kung, S.P., 2018. The performance of local authority sports
facilities in England during a period of recession and austerity. International Journal of
Sport Policy and Politics. pp.1-17.
Lee, S.Y., 2018. Analysis of relationship marketing factors for sports centers with mixed
methods research. Asia Pacific Journal of Marketing and Logistics. 30(1). pp.182-197.
Bahadir, S. C., Bharadwaj, S. G. and Srivastava, R. K., 2015. Marketing mix and brand sales in
global markets: Examining the contingent role of country-market characteristics. Journal
of International Business Studies. 46(5). pp.596-619.
Chen, Y. and et.al., 2015. Linking market orientation and environmental performance: The
influence of environmental strategy, employee’s environmental involvement, and
environmental product quality. Journal of Business Ethics. 127(2). pp.479-500.
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