Marketing Planning and Process

This article provides an overview of marketing planning and processes, including the definition and basic concept of marketing, the key roles of marketing in the marketing environment, and the interrelationship between the marketing function and other functions. It also includes a case study on Merriman, a premium men's commercial fashion firm, and their marketing strategies.

MARKETING PLANNING AND PROCESS
ASSIGNMENT 1
ASSIGNMENT 1 FRONT SHEET
1
NAME: NGUYEN THI QUYNH LIEN
ID: GBD210246
WORD COUNT:WORDS

Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 2 Marketing Planning and Processes
Submission date 09/12/2021 DateReceived1stsubmission
Re-submissionDate DateReceived2ndsubmission
Student Name Nguyen Thi Quynh Lien Student ID GBD210246
Class GBD1001 Assessor name Pham Thi Huyen Trang
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making a false declaration is a form of malpractice.
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guyen Thi Quynh Lien
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Table of Contents
I. Introduction...........................................................................................................................................5
II. The definition and basic concept aboutmarketing...........................................................................5
2.1 The definition..................................................................................................................................5
2.2 The basic concept of marketing...................................................................................................5
III. Key roles of Marketing in the context of Marketing environment.................................................8
3.1 The marketing process..................................................................................................................8
3.2 Key roles of marketing...................................................................................................................9
3.3 Marketing environment................................................................................................................10
IV. The interrelationship between marketing function and other functions....................................12
V. Conclusion.........................................................................................................................................13
VII. References.......................................................................................................................................14
Table of Figures
Figure 1: Merriman Product.......................................................................................................................5
Figure 2: The Five Marketing Concepts.....................................................................................................6
Figure 3: Five Steps Of Marketing Process ( Anon., 2017).......................................................................8
Figure 4: Macro Environment...................................................................................................................10
Figure 5: Micro Environment....................................................................................................................11
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I. Introduction
As a speaker let students know marketing as an attractive career option for students' future orientation.
Today's ever-changing market is also a competitive environment in which businesses must compete to
thrive. In this highly competitive industry, organizations must constantly absorb and stay up to date with
the latest market trends to gain an edge. Marketing efforts are one of the ways for businesses to
approach the competitive environment. The marketing department will assist in taking advantage of its
advantages and resources to contact consumers, develop brands and increase competitiveness. This
article will be evaluated according to the following criteria: (II) Definition and basic concepts of
marketing, (III) The main roles of Marketing in the context of the marketing environment, (IV)
Relationships between the marketing function and other functions. In the following report, the
most detailed analysis of marketing for Merriman, Hoa Tho Garment Corporation's premium men's
commercial fashion firm, formally introduced to the fashion-conscious market in December 2011.
Figure 1: Merriman Product
II. The definition and basic concept aboutmarketing
2.1 The definition
The book's definition of marketing "Marketing, in a nutshell, is the attraction and management of the
connections that the attraction, as well as the management here, establish." Marketing's goal is to
provide value for consumers so that they may gain value from them (Kotler, et al., 2017). Another
definition of marketing is “Marketing is the activity, collection of institutions, and procedures for
generating, conveying, delivering, and exchanging items that have value for consumers, clients,
partners, and society as a whole” (AMA's, 2021). Overall, can see that marketing takes advantage
of people's various requirements in order to transform them into a profit opportunity.
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2.2 The basic concept of marketing
According to the article Bringing the Concept of Marketing to Higher Education: "For most
individuals, the term marketing refers to a specific economic activity. Many people associate it with
selling. Even those who embrace marketing in a broader framework, that is, determining and
responding to the wants and wishes of their clients, nearly always regard it as a commercial activity.
On the contrary, it is a widespread social activity in which all sorts of organizations are involved and
must normally participate."
However, the notion of marketing is far more significant than the term that most people
comprehend. Because marketing may also impact how a corporation or company operates and how
it might increase revenues and growth. Furthermore, it seeks to recognize and meet the demands
of consumers in order to benefit both the firm and the customers. Because there are five marketing
concepts in all, including production concepts, product concepts, sales concepts, marketing
concepts, and social marketing concepts. As a result, the organization must pick carefully so that
the concept best suits them, and then apply, utilize ideas, and scripts to build this concept more
impressively. (Kotler, et al., 2017).
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Figure 2: The Five Marketing Concepts
The marketing conceptwith the product concept and selling concept
Concept Marketing concept Product concept Selling concept
Definition The marketing
concept may grasp
that anorganization's
ideas, if it wants to
reach its aims, must
depend on many
variables such as
market needs, market
want, and achieving
Consumers will
frequently care and
support items with the
highest quality,
features, and
performance, as the
product idea clearly
demonstrates. As a
result, the business
According to (Kotler,
2020), When it
comes to the notion
of sales, people will
not buy enough of
your items unless
you make a
significant sales and
marketing effort.
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better than rivals
pictures. It is a
"outside-in"
perspective (Kotler,
2020).
should commit time
and effort to
continuously improving
the product (Kotler,
2020)
Advantages -Alignment with the
Customer(Kokemuller,
2020)
- Flexibility(Kokemuller,
2020)
- Quality above
quantity(Parikh, 2019)
- Irrelevant aspe(Parikh,
2019)cts
- Consumer interests are
disregarded(Parikh, 2019)
- Assists the business in
increasing sales(Parikh,
2019)
- Emphasizes marketing
and selling(Parikh, 2019)
- Eliminate Stock
Backlog(Parikh, 2019)
Disadvantages - Technological
Progress(Kokemuller,
2020)
- Production
Effectiveness(Kokemuller
, 2020)
- The majority of buyers
are price sensitive(Parikh,
2019)
- IgnoresCustomer
Recommendations(Parikh,
2019)
- Aim for the Short
Term (Parikh, 2019)
- Ignores customer
demands(Parikh, 2019)
- Ignores customer
feedback(Parikh, 2019)
- Takes a short-term
approach(Parikh, 2019)
Ø The marketing concept definition demonstrates the significance of the marketing department.
They assist the firm in analyzing the demands of its consumers in order to offer items that
best suit the market, as well as greatly increasing the company's competitive rate.
III. Key roles of Marketing in the context of Marketing environment
3.1 The marketing process
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Figure 3: Five Steps Of Marketing Process
The marketing process consists of five processes that strive to create and capture client value. As a
first step, the corporation must learn about and comprehend the market, as well as the demands and
desires of its clients. Following that, the organization must develop a marketing plan based on
customer value. Following the development of the marketing strategy, we must continue to develop an
integrated marketing program that will provide exceptional value to the organization. The most
essential thing is to acquire consumers, develop lucrative partnerships, and satisfy them. Finally, in
order to produce profit and owner equity, the organization must collect value from its consumers. They
may collect value from customers in the form of sales, earnings, and long-term client equity by
producing value for them (Kotler, et al., 2017).
3.2 Key roles of marketing
Based on the 5-step marketing process, we can see the importance and role of marketing for
businesses, customers, and society. The roles of the marketing department are clearly shown as
follows:
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 Marketing has a part in identifying client demands and needs. Furthermore, after understanding
such desires, the marketing department develops tactics to target and boost client
happiness(Kotler,et al., 2017).
Ø Applied to Merriman: The marketing department performed a poll to better understand the
pain that most office workers are experiencing today, which is that their work clothes are too
tight and the material is difficult to absorb. As a result, the marketing and manufacturing
research departments collaborated to develop product lines that are comfortable in terms of
materials, forms, and even colors. Merriman's fabrics are made entirely of cotton and linen,
allowing for optimal breathability and sweat absorption while worn. Merriman, in particular,
made a difference and was well appreciated by the public with the publishing of an unique
patent, certified for intellectual property on 4 cm stretch tangdor trousers for men with belly
fat(NhandienhangVietNam, 2017).
 Marketing is very important in finding target clients. Marketing will then study the market and
identify the ideal customer to best serve customers. Finally, marketers must agree to make the
appropriate judgments in order to satisfy customers(Kotler, et al., 2017).
 Marketing is responsible for establishing and implementing the planned value-integrated
marketing strategies to fit with the clients they have identified as their target market. Marketing
must also include product, pricing, location, and promotion factors. This section has helped to
provide the desired value for customers to pick from (Kotler,et al., 2017).
Ø Applied to Merriman: Merriman's marketing staff has done an excellent job of identifying the
primary clients, who will be guys working in businesses and offices. Not only that, but fashion
style guidance through online marketing channels, membership card program to develop a
relationship between customers and the company, appreciation programs, birthday
incentives, and many more. Other incentive schemes improve the shopping experience for
customers(NhandienhangVietNam, 2017)
 Marketing also includes relationship development and consumer satisfaction. Customer
marketing has added value by focusing on client happiness, customer acquisition, and the
management of lucrative relationships in order to cultivate loyal customers (Kotler,et al., 2017).
Ø Applied to Merriman:Despite the fact that it is a high-class men's fashion product of
exceptional quality, Merriman always gives a price that is appropriate for the desire that
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every client possess a high-class fashion style. When Merriman understands the psychology
and desires of consumers when it comes to purchasing work clothing, this may be called a
partnership that benefits both customers and companies. Merriman can then attract a
specific amount of loyal clients
 Finally, marketing contributes to the creation of revenues for organizations through capturing
customer values. When a customer purchases a product and is satisfied with it, the corporation
has built a long-term profit stream (Kotler,et al., 2017).
3.3 Marketing environment
The term "marketing environment" refers to the impacts or factors of a company's external and
internal environment that influence marketing management's capacity to establish and sustain
flourishing connections with customers. Thus, the marketing environment is divided into two parts:
the microenvironment and the macroenvironment. Inside:
 Suppliers, delegates, consumer markets, the public, competitors, and marketing
intermediaries are examples of microenvironmental elements that are near to the firm. The
microenvironment is also connected to the organization's internal environment and
influences marketing as well as all departments such as management, R&D, finance, Human
assets, buying, operations, and accountants(Studiousguy, 2021).
 The company's macroenvironment is an uncontrolled issue. As a result, it must organize its
policies within the constraints imposed by these considerations. The macro environment
relates to the market's demographic, economic, technical, natural, socio-cultural, and
political-legal characteristics. Let's take a closer look at these elements(Studiousguy, 2021).
Macro environment
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Figure 4: Macro Environment
Economic: 2020 will be a very tough year for Vietnam's textile and apparel sector, as the market will
see numerous intricate and unpredictable variations, according to the newspaper. For the first time in
20 years, the export value of textiles and apparel fell, reaching just 35 billion USD, a 10% decrease
from 2019. One of the industries affected by the Covid-19 outbreak is the textile and apparel
industry.The tourist, aviation, and footwear industries have suffered the most immediate losses. Due to
the Covid-19 pandemic, when customers throughout the world are primarily concerned in vital goods
and illness prevention, demand has slowed, and Vietnamese textile and apparel industries have
encountered various challenges as a result of few orders. With over 60% of raw materials imported and
90% of final products exported, Vietnam's textile and apparel sector experienced supply and demand
shocks when the Covid-19 outbreak broke out(HoaThoAnnualReport, 2021)
Micro environment
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Figure 5: Micro Environment
Competitors: Merriman is now at the implementation stage, thus market research is critical. The new
product is only starting to gain traction in the Da Nang market, while other areas are still in their
infancy. The system is still being expanded in the north and south. The workplace fashion market for
males in Da Nang is reasonably priced or higher. In addition to Hoa Tho Textile and Garment Joint
Stock Corporation's Merriman line, the items have well-known brands from other competitive firms like
as Viet Tien, An Phuoc, May 10, and Nha Be.In the current trend, when the market economy is rising
rapidly with the progressive growth of science and technology, corporate competitiveness is increasing
rapidly. To continue to exist and grow, the organization must be aware of potential threats from rivals
and implement suitable procedures to reduce risks in commercial activities. Merriman has worked
tirelessly to overcome those obstacles, eventually establishing a firm basis for himself by designing
sets of outstanding costumes that competitors can scarcely copy while also consistently increasing
service quality.Merriman offers ongoing training programs to increase staff understanding of brand
expertise, goods, service attitude, and so on. Merriman strives to provide the finest possible service to
its clients, from the minute they walk into the store until they leave with their purchase. Merriman is
willing to listen to and respect consumer thoughts and criticism in order to identify current inadequacies
and, as a result, grow and expand further, with customer pleasure as the first focus(Merriman, 2017).
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Ø Based on the two elements of the economy and competition, it is clear that competition is a
key component that Merriman's marketing department, in particular, and Merriman Company
in general, must focus on in order to address difficulties. The subject is about other rivals.
This is evident in the fact that Merriman not only improves the quality of its products and
services, but also supports the growth of its media, extensively presenting items to people
through the media. Merriman distinguishes itself from rivals by offering appealing programs
and events, continuously conducting discounts, customer appreciation, fairs, and so on, in
order to ensure the timely delivery of products and services while maintaining
quality.Throughout the year, there are large promotions, as well as promotions on key
holidays, such as incentive programs to commemorate Vietnamese Teachers' Day or
Merriman Fashion giving vouchers to honor Vietnamese Women's Day... Merriman currently
has 52 branches and stores around the country, from north to south, after five years of
constant expansion efforts, with a professional and consistent brand image(Merriman, 2017).
IV. The interrelationship between marketing function and other functions
It is clear that when a company or organization is placed into operation, it will always include
departments and divisions with varied jobs and activities with the common purpose of assisting the firm
in developing and achieving its stated goals. To accomplish so, communication across departments
inside the organization is essential, and it cannot be substituted or neglected in a successful
corporation(Administrator, 2018).
Marketing and Operations Department
A company's marketing department is in charge of cultivating loyal consumers, generating revenue,
and gaining new customers. The Activities department, on the other hand, optimizes cost efficiency via
inventories, shipping, and other continuous company operations. Operations is also in charge of
lowering the cost of doing business. They collaborate to deliver quality programs on schedule, meet
financial targets, quickly access data, generate more leads, enhance customer experience, and more.
client satisfaction,etc,..With the proper merging of these two divisions, more sales and profitability may
be predicted(Antypas, 2021).
Furthermore, there are still disagreements between these two departments. Marketers are attempting
to obtain software solutions related with social network research in order to assess brand image,
appearance, and feel. Keep an eye on forthcoming trends in the social circles of the company's target
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demographic to stay ahead of the competition. Meanwhile, operations experts seek software solutions
that decrease costs, give analysis of the best tools and roadmaps for delivery, and assist in the
resolution of day-to-day difficulties regular inventory, assist in the analysis of supply possibilities, and
even invest in a platform that keeps in touch with suppliers(Nabil, 2015).
Ø Applied to Merriman:Merriman's stores were forced to close due to the COVID-19 issue,
resulting in a backlog of merchandise. As a result, the marketing and operational teams
collaborated to establish the campaign "Wide the Disease: Merriman Brand Double
Regeneration." This campaign is intended to assist Merriman in optimizing the cost of work
with too many items in existence while satisfying the company's needs and attention. When it
comes to the Merriman brand, this may also be leveraged to attract and maintain
consumers(Thuy, 2021).
Marketing and Finance Department
Finance and marketing are two pillars that are dependent on the company's development and
profitability. Finance is concerned with all financial factors, such as profit, cost, project feasibility, sales
growth, and year-end financial performance, among others. While marketing is primarily concerned
with sales objectives, sales volume, sales in comparison to rivals, advertising and public relations, data
mining, and so on. All know that without promotion and exposure, the company's product sales will not
improve, and without sales, there will be no sales. Finance would be unnecessary without marketing
since the core job of finance is to discover a means to enhance profits, and without earnings, the entire
finance function becomes useless.Similarly, a solid financial foundation is required for successful
marketing because it is the foundation upon which the company establishes marketing goals such as
sales targets, selling prices, cost of production, product compensation, and planning and ensuring that
everything goes according to plan(Vinish, 2014).
However, the marketing department will blame the finance department for their failure because the
money was not supplied as asked, and the finance department will return with the money. The similar
argument may be made for the marketing department, which fails to satisfy demand stimulant targets,
resulting in lower target sales. As a result, the marketing department functions in a confined
environment, but the finance department operates with its own objectives and constraints, regardless
of the impact. The negative consequences are a loss of market share and an inconsistency in
revenue(Danish, 2014).
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V. Conclusion
Every company's marketing department is critical. The marketing department's duty and function will
benefit the organization in terms of markets and consumers. While a firm's marketing department is
well-developed, it reduces the risk for the company when producing new items. Not only that, but the
marketing department ensures that other divisions in the organization grow and maximize their roles. In
summary, marketing is an essential component of the business.
VII. References
AMA's, 2021. Definitions of Marketing. [Online]
Available at: https://www.ama.org/the-definition-of-marketing-what-is-marketing/
[Accessed 26 11 2021].
Ha, 2021. CHƯƠNG TRÌNH THÊM BẠN THÊM VUI CÙNG MERRIMAN. [Online]
Available at: https://merriman.com.vn/blogs/khuyen-mai/chuong-trinh-them-ban-them-vui-cung-
merriman-tu-23-10-29-10-2020
[Accessed 2 12 2021].
Merriman, 2021. KHUYẾN MÃI. [Online]
Available at: https://merriman.com.vn/blogs/khuyen-mai
[Accessed 2 12 2021].
HoaThoAnnualReport, 2021. Hoa Tho Annual Report, s.l.: 2020.
Merriman, 2017. Merriman- Chặng đường xây dựng và phát triển thương hiệu. [Online]
Available at: https://merriman.com.vn/blogs/news/merriman-chang-duong-xay-dung-va-phat-trien-
thuong-hieu
[Accessed 2 12 2021].
Antypas, L., 2021. How Do Marketing and Operations Work Together?. [Online]
Available at: https://www.linkedin.com/pulse/how-do-marketing-operations-work-together-ioannis-
antypas
[Accessed 2 12 2021].
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Nabil, M., 2015. Marketing Vs Operations. [Online]
Available at: https://www.linkedin.com/pulse/marketing-vs-operations-mohamed-nabil
[Accessed 2 12 2021].
Kotler, 2020. https://www.worldsupporter.org/. [Online]
Available at: https://www.worldsupporter.org/en/chapter/41634-summary-principles-marketing-kotler
[Accessed 26 11 2021].
Kotler, P. A. G. a. H., 2017. Principles Of Marketing. United Kingdom: Harlow.
Parikh, V., 2019. LetsLearnFinance. [Online]
Available at: https://www.letslearnfinance.com/product-concept-of-marketing-advantages-and-
disadvantages.html [Accessed 2611 2021].
Anon., 2020. reference. [Online]
Available at: https://www.reference.com/business-finance/advantages-disadvantages-production-
concept- 85d729ea4af9f0b0
[Accessed 2611 2021].
Kokemuller, N., 2020. smallbusiness. [Online]
Available at: https://smallbusiness.chron.com/advantages-disadvantages-marketing-orientation-
22985.html [Accessed 2611 2021].
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