This report discusses the concept of marketing in the 21st century, the role of marketing function, how marketing interacts with other departments, the extended marketing mix, and how it contributes to the success of Tesco in meeting their overall business objectives.
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Table of Contents INTRODUCTION :........................................................................................................................3 Explain the concept/definition of marketing in the 21st century....................................................3 Describe the role of marketing function with examples from your chosen organisation...............3 Analyse how the marketing function works and interacts with other departments.........................5 Explain the extended marketing mix and provide examples from your selected supermarket.......6 Marketing mix of Tesco with their competitor Sainsbury's is as follows:......................................7 Evaluate how the marketing mix adopted by your selected business (or business unit) contributes to the success of the organisation in meeting their overall business objectives..............................8 RECOMMENDATIONS.................................................................................................................9 CONCLUSION...............................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION : Marketing is the process of promoting the products and services. It includes advertising, selling and delivering goods to customers. It identify the ideal consumers and draw their attention to purchase their commodity.There are four Ps of marketing. They are product, price, place and promotion. The main purpose of merchandising is to analyse the customers all the time. The concept of marketing is to achieve organisational goals by anticipating the needs and wants of the consumers and fulfil the wants accordingly. It is a continuous process as buyer needs and wants changes time to time and it should be analysed timely to meet their needs and to achieve the organisation objectives. This report will focus on the concept of advertising in 21st century, What is the role of marketing function and how tesco uses these function and how these function works with other departments. TASK Explain the concept/definition of marketing in the 21stcentury Marketing in the 21stcentury includes traditional as well as digital ways to promote the products and services. Before the 21stcentury businesses have no other option than traditional such as television, newspaper, radio, etc. to target their customers. They focuses on marketing campaigns in the target market to create awareness and influence the customers to make decision to purchase their product(DeJesus, 2021). In the 21stcentury companies advertise through social media platforms, search engines, emails and many more. Organisation use social media platform like Facebook, Instagram, Twitter to advertise their product and services. Companies focus on addingvaluetocustomersbyentertainingthemthroughdigitalplatforms.Inmarketing companiesidentifythecustomerneedsandwants,satisfytheneedsandbuildstrong relationships to maximise their sales and to achieve the objectives. Tesco uses the marketing strategy liDescribe the role of marketing function with examples from your chosen organisation ke product innovation, pricing strategy and promotion planning. These strategies are based on marketing mix of tesco which helps the brand to succeed.
Describe the role of marketing function with examples from your chosen organisation Marketing plays a very essential role in promoting the business and to accomplish the organisation objectives. It is the job of marketing department to reach out to the customers or community. This enhances the image of the company. The marketing department has following roles:- ï‚·Meets customer needs and wants:-Needs should pre exist in the market. The main role of marketing is to know what the customer wants and to satisfy their demand(Dogu and Albayrak, 2018). They should identify the needs and adopt strategies accordingly. In context to Tesco, it analyse what the customer wants and satisfy their needs accordingly. Company regularly asks their buyers what they can do to make shopping better. They offer competitive prices and have friendly personnel which helps the consumers in resolving complaints quickly. ï‚·Ensures organisational survival, growth and reputation:-Businesses only survive because of the customer retention and increase in market share. If the organisation satisfies the customer needs then they gets attached to the enterprise and thus leads the businesses to grow.(Gilligan and et. al., 2021). According to Tesco, it is growing because itsatisfythecustomersandin returntheygetattachedtotesco.Thishelpsthe organisation to grow and makes it as a reputed brand in the market. ï‚·Widens market:-Marketers use communication tools to promote their products far and wide. This includes advertising, sales, promotion, public relations etc. Public relations protects the company image and product. Tesco uses such communication tools to promote their products and protect the company image. This helps the organisation to become wider(Hu and Ma, 2021). ï‚·Adapting the right price:-Cost is the main element in the marketing of a product because it generates revenue. Marketers should use marketing strategies in fixing the reasonable value of the product and making appropriate changes. If the organisation adopted the fair prices the exchange process moves smoothly. According to tesco it take advantage of economies of scale because it has efficient supply chain network that allows them to offer reasonable price.
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ï‚·Face competition:-Competitive position is very important in today's market. Marketing helpsthemarketerstomaintainacloselookoncustomerexpectationandwhat competitor offerings(Huang, 2021). This helps the organisation to meet the desired customer expectation. Tesco is keeping close look on customer wants and satisfy the needs of their customers and also keep an eye on competitor products. ï‚·Economic growth:-Marketing creates the demand. If needs of the product increases it promotes the production and distribution activity. And as a result economic growth rises and income level also increases as it increases the employment opportunities. Tesco also creates demand by marketing process and this helps the organisation to produce more and distribute more(Karimova and Shirkhanbeik, 2019). Company also have a efficient supply chain network so there is no problem in supply chain. ï‚·Dischargesocialresponsibilities:-Socialobligationsplaysanimportantrole. Companies have forced to enhance social responsibilities due to increase in customer expectations and government pressure. Marketing is done by cause related. Tesco also ensures that marketing is done through cause related. Company take care of people through healthy living and education initiatives, providing good working condition etc. ï‚·Set better goals for the business:-The goals and objectives decides the success of businesses. Marketing helps the business to set goals. Popularity of brand increases if the company practice some marketing strategies. Tesco is setting their objectivesand achieving those goals makes reputation and creates the brand image of the company. Analysehowthemarketingfunctionworksandinteractswithother departments The marketing department has to synchronise the activities of different departments so that task can be done effectively and efficiently.Marketing department needs to coordinate with different departments like production, sales, finance and human resource. With the production department it ensures that the number of orders that it has generated can be met within the scheduled time, the product should be manufactured with the quality and design that was prescribed by customer and the research should be planned according to the needs and wants of the customer to satisfy the present as well as future needs. It also need to co-ordinate with finance department to ensure that there is adequate funds to meet the needs for promotion,
distribution and investigation. The finance department have a whole organisation which it operates within its budget(Rayburn and et. al., 2021). All the departments have to work within theallocatedfunds.Marketingdepartmentalsoneedtointeractwithhumanresource management to ensure that appropriate skills and staffing are in place to meet the production targets, research new ideas etc. The HRM department have many recruitments across the organisation and it will have to balance with marketing and with those of other departments. When sales and marketing works together the leads generated will increase. Sales help the marketers to identify the ideal customer for the business so that marketing department can attract the customers. Having a strong relationship between two is necessary as it will enable effective cooperation. Explain the extended marketing mix and provide examples from your selected supermarket It is the combination of seven elements that aims to work collectively to accomplish the objectives. These elements are: product, price, place, promotion, people, process and packaging. ï‚·Product:-It refers to what company is selling. Anything that company sold and has physical presence(Yeniaras and Kaya, 2021). ï‚·Price:-It refers to the pricing strategy of the company's product based on what the customers are willing to pay. ï‚·Place:-It refers where the company is selling their product. Place is very important as customer wants quick delivery of products. ï‚·Promotion:-It means promoting the company's product. Rising awareness of a brand within the market. ï‚·People:-It refers to anyone who involved in the business. It includes staff, salesperson, management and customers. ï‚·Process:-It refers to the processes of delivering the product to customers effectively. ï‚·Physical evidence:-It refers to everything your customer see when interacting with your business from the beginning . It includes packaging, branding, layout and interior design of stores.
Marketing mix of Tesco with their competitor Sainsbury's is as follows: ElementsMarketing mix of TescoMarketing mix of Sainsbury's Product Price Promotion Place Process Tescocaterstoeveryneedsofthe customer. It provides a wide variety of productslikeclothing,food, stationery,cosmetics etc. Tesco has efficient supply chain works continuous with suppliers to reduce the prices of goods. It has a good brand image and it helps the company in promoting its products. Organisationusesnewspaper, televisionandotherchannelsto promote their commodities. Ithastwomainchannelsof distribution online as well as offline. It allowsthecustomerstogetthe products quickly. It has 7000 offline storesworldwide(Marketingmixof Tesco (7Ps of Tesco)). In stores customer can pick up their productsandgotothecustomer assistant to pay. Self service machines also used to make payments. It has a wide range of commodity to its customers with focus on quality. Anditalsodevelopingthenew products. It provides the customer the value of money and maintains product quality with reasonable price. It uses the ATL and BTL promotional strategytoinfluencecustomer attention. It uses television, radio and otherdigitalchannelstopromote their products. It has 500+ supermarketsand 700 convenience storesand some of the stores are working 24*7. It also have homedeliverythatattractsthe customer(Sainsbury'sMarketing Strategy & Marketing Mix, 2022). It has systematic process that makes the customer convenient with its click and collect services.
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People Physical evidence It has a large customers which makes it a successful company. It also invest huge amount in employee training and development. Its products are well classified which makes easy for their customers to find them. It has a excellent logo and well uses of colours. Ithasawelltrainedexpertsand professionalswhoawarewiththe customer reaction(Zeneli and et. al., 2018).Company always gives first preference to its customers. It has excellent strategy to market its products through physical evidence. Variousstoredesignandlayout attracts the customers. Evaluate how the marketing mix adopted by your selected business (or business unit) contributes to the success of the organisation in meeting their overall business objectives Marketing mix helps the Tesco in achieving the overall business objectives. Through this organisation has made better strategies. It has made strategies related to product, price, place, promotion, people, process and physical evidence. In this company caters to the needs of the customerwithoutcompromisingthequalityoftheproductandsatisfytheir customers(Shemyatikhina and et. al., 2020). It provides the product at reasonable price which the consumer prefer buying. It has good relations with suppliers which supply the commodity on time and also efficient supply chain which reduces the prices of the product. Company also engaged in promotional activities which helps them to attract new purchaser. It uses online and offline channel for distribution and allows the customer to get the products quickly. Its stores are designed in such a way that attracts consumer to buy goods and helps in increasing the sales. Its process is also simple and systematic that buyer pick up the product they want to purchase and then go the assistant to pay. Company also have a trained professionals who assists the buyer in a
better way. In this way tesco meets its objectives as it provides the premium quality products with fair prices which attracts the consumer and in return they get attached to the brand and hence helps in increasing the sales of the company. RECOMMENDATIONS From the above report it has been recommended that the company have to use the marketing strategy in order to grow and increase sales. Marketing helps the customer to know the product and its uses. Tesco has to use the marketing process regularly to attract the new consumers and promoting the sales of the organisation. Company has to use marketing mix process in order to formulate the better strategies for their commodity so that customer will prefer buying their product over competitor products. It also helps the company in positioning their brand in the market. CONCLUSION From the above report it is concluded that marketing mix is the important concept in marketing which comprises of 7 P's that are product,price, place, promotion, people, process and physical evidence. Strategies that are based on marketing mix determines the success or failure of any business. Marketers have to realise the usefulness of merchandising. It helps the organisation to achieve its goals by the strategies they have formulated. It helps the businesses to grow as promotional activities creates new customers and helps in increasing the sales of the company. The company also have attractive stores which also helps them to increase sales. The role of marketer is to analyse the consumer needs and design products accordingly.
REFERENCES Books and Journals DeJesus, G., 2021. Integrated Marketing Communication Plan: Event Scheduling & Reservation Management App. Dogu, E. and Albayrak, Y.E., 2018. Criteria evaluation for pricing decisions in strategic marketingmanagementusinganintuitionisticcognitivemapapproach.Soft Computing.22(15). pp.4989-5005. Gilligan, C. and et. al., 2021.Marketing and Retail Pharmacy. Routledge. Hu, Y. and Ma, H., 2021, May. On Modular Teaching Reform of Marketing course Based on the MassEntrepreneurshipandInnovation.In2021 2ndInternationalConferenceon Computers, Information Processing and Advanced Education(pp. 86-91). Huang, Y., 2021, March. Research on e-commerce precision marketing strategy based on big data technology. In2021 2nd International Conference on E-Commerce and Internet Technology (ECIT)(pp. 87-90). IEEE. Karimova, G.Z. and Shirkhanbeik, A., 2019. Marketing artificial intelligence: Creating the AI archetypeforevokingthepersonalitytrust.AcademyofMarketingStudies Journal.23(4). pp.1-13. Rayburn, S.W. and et. al., 2021. Future thinking continuity of learning in marketing: A student perspectiveoncrisismanagementinhighereducation.MarketingEducation Review.31(3). pp.241-255. Shemyatikhina,L.andet.al.,2020.Marketingmanagementofanonprofit organization.Ekonomicko-manazerske spektrum.14(1). pp.19-29. Yeniaras,V.andKaya,I.,2021.Relationalgovernance,strategicplanningandfirm performance.Marketing Intelligence & Planning. Zeneli,V. and et. al., 2018. Terrorism,competitiveness, and internationalmarketing:an empirical investigation.International Journal of Emerging Markets. ONLINE MarketingmixofTesco(7PsofTesco),2022[online]availablethrough <https://howandwhat.net/marketing-mix-tesco-tesco-marketing-mix/> Sainsbury'sMarketingStrategy&MarketingMix,2022[online]availablethrough <https://www.mbaskool.com/marketing-mix/services/16809-sainsburys.html>