Marketing Mix of Wilkinson
14 Pages3805 Words83 Views
Added on 2020-06-04
Marketing Mix of Wilkinson
Added on 2020-06-04
ShareRelated Documents
Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................3LO2..................................................................................................................................................9P3 Marketing Mix of Wilkinson................................................................................................9LO3................................................................................................................................................11P4 Marketing plan for Wilkinson.............................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONMarketing essentials is an important concept through which the basics of the market canbe understand. It helps different organisation in carrying out the function of marketing in aneffective manner which is capable of providing the desired results to an organisation. Wilkinsonis a UK based organisation which deals in the different consumer products (Aaboud and et. al.,2017). It is important for the management to carry out its marketing operations with maximumcare. In the following the various responsibility and duties of the marketing manager will beelaborated which will show how it plays a crucial role in given organisation. Later the concept ofmarketing mix will also be highlighted which will show how it is implemented to take thedifferent decisions.LO1In order to achieve the targets of Wilkinson, the contribution of marketing manager is crucial.Different functions which are performed by the marketing manager in Wilkinson group are asfollows:DistributionFinancingDistribution: In Wilkinson, it is the duty of marketing manager to describe how the goods andservices are created at one place that will reach to its target customers all over the globe. Itsincludes by which medium it will be transposed to its user (retail outlet, online, or by samplingmethod), how they will be stocked after processing and mode of transportation (train, air plane,ship), customer service, packaging. Financing: In any firm, to perform various tasks from production of a product to its finalconsumption, money is required. If there is shortage of finance, there will be break in processand the product might not reach the consumer on time. This may affect company’s reputationand goodwill, hence, the organisation is required to plan the method and amount funding inadvance. It can arrange adequate finance through banks, private investors, shareholders andprivate finance institution. Even to create a demand for the product or service, finance isrequired. It is the basic component of any organisation.Responsibilities of marketing function are:- 1
Market researchPricing Product and Service ManagementPromotionSellingMarket research: In order to produce any product or service, it is very important to know whydoes organisation wants to produce it, will it satisfy customer’s need, what purpose will itserve, what is the age and preference of target customers, section would you want to launchit first, in which departments does organisation wish to expand and sell later, how will youcreate the demand for it, what will be the mode of promotion and advertisement and so on.Hence, it is the responsibility of firm to do complete market research. Market research reportwill play the major role in planning and development. Pricing: It is the factor that will decide profit of Wilkinson. If the price of product is too highthen customers will tend to buy competitor’s product and if the price is too low, organisationmight suffer loss even though the sales are high. Hence, it is the responsibility of marketingmanager to keep a fair pricing where customers don't feel cheated and company also gainsprofit in the long run. Price of a product is expected to get changed with alteration in the costof raw material, transportation cost, cost of warehouse, change in fuel price, change inweather, government tax laws and others, etc. Hence, value should be kept in such a waythat a slight alteration in all these factors does not require a change in price. If there isfrequent price change, customers might lose the faith and trust in company. Product and Service Management: This refers to the feedback and after sales servicesprovided by firm. Having an effective customer service team is essential for the development of2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
(Docs) Marketing Essentials Assignment Solutionlg...
|8
|1707
|331
Marketing Essentialslg...
|14
|346
|99
Marketing Plan of Wilkinson : Reportlg...
|15
|4603
|35
Marketing Essentials of Wilkinson in UKlg...
|12
|3066
|53
Marketing Essentialslg...
|24
|3370
|172
(Solved) Marketing Plan of Nokialg...
|14
|2622
|98