Marketing Process & Planning: Concept, Functions, Mix, and Strategies

This report discusses the concept, functions, and mix of marketing in the 21st century with examples from Tesco. It explains how marketing interacts with other departments and how the extended marketing mix contributes to the success of an organization. The report also includes a marketing plan with clear and SMART objectives, marketing research, situational analysis, and marketing strategies applied to the extended marketing mix.

Higher National Diploma in Business
Management
Unit 2 Marketing Process & Planning
The Marketing Concept,
Functions and Mix (Part 1)
Marketing Planning (Part 2)
Name:
ID:
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Table of Content
Part 1: Briefing Paper
1.0 Introduction p
2.0 An explanation of the concept/definition of marketing in the 21st century
p
3.0 Description of the role of marketing function with examples from the
chosen organisation p
4.0 An analysis of how the marketing function works and interacts with other
departments p
5.0 An explanation of the extended marketing mix and examples from selected
supermarket p
2.0 An evaluation of how the marketing mix adopted by the selected
business (or business unit) contributes to the success of the organisation in
meeting their overall business objectives p
3.0 Recommendations p
9.0 Conclusions p
References p
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1.0 Introduction
Merchandising is a process for creating, communicating, dealing and delivering
offerings to the customers, clients, partners and society at large. It involves research,
advertisement, promotion, sale and distribution of products and services. Marketing
studies the commercial administration of the organization in order to pull, acquire
and hold customers by satisfying their wants or needs and increase brand loyalty. In
the present report, Tesco has been considered that is a multinational groceries and
general merchandise retail merchant founded in 1919 with headquartered in
England, UK. It also specialises in retailing of books, clothing, electronic, financial
services, telecoms etc. The report will explain the definition and concept of marketing
of 21stcentury along with its roles and functions. Apart from this, it will also present
the working of marketing function and interaction with other departments. Further, it
entails the concept of marketing mix and how it contributes to the success to meet
the general objectives of an organisation.
2.0 An explanation of the concept/definition of marketing in
the 21st century
Concept of Marketing
Marketing advert to the promotions of buying or selling of products or services to the
target customers. It cites the action of an organisation which it takes to attract the
audience towards its offerings by providing them high quality. In this 21st century,
marketing is a pool of both customary and digital transmission to encourage the
products and render services. It finds out the wants of the customers for providing
them products according to their needs and enhance their expectations. It is a
creative activity of evolving, promoting and dispensing products or facilities to the
customers to enhance their businesses(Hongjun, Zhen and Huichen 2022). Marketing is
done to attract the targeted audiences that includes memorable slogans, attractive
jingles or packaging designs and general advertisement revelation. An organisation
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uses marketing strategic tool such as marketing mix to achieve the goals of a
business.
3.0 Description of the role of marketing function with
examples from the chosen organisation
Role of marketing function
Marketing is a function which enables the department operating efficiently by
making strategic planning and deliver the desired business outcomes through
people, process, technology and data. In context to Tesco, the role of marketing is
associated with many obligation and function which are depicted below:
Meet the needs of the customers: The marketers determine the necessity of
the customers and adopt their marketing strategies accordingly. In relation to Tesco,
it studies the culture that prevails in the market and assess individual behaviour to
fulfil their needs(Rust,2020). Thus, it makes the company able to provide great quality
products or services to their customers.
Ensure organisation survival, growth and reputation: The business
survives only when the needs of the customers are fulfilled. This will help in
increasing the market share and achieving the objectives of the of the company.
With reference to Tesco, it provides premium quality products to its targeted
customers which assist an organisation in making its brand reputation and increase
growth with customer loyalty.
Increase market: An organisation uses collective human activity means like
advertisement, sales promotion, public relation, direct marketing, event marketing
etc. to increase its market share. In relation to Tesco, it uses various promotion
strategies such as advertisements, social media, websites etc. which help the
organisation in attracting the customers towards its products.
Good product offerings: Many organization sells more than one product
and have products portfolio that are attractively designed and tagged. In context to
Tesco, it has product portfolio of its brand ranging from medium to higher category.
These are all tagged with brand name and attractive packaging which provides
satisfaction to their customers.
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Face competition: Marketing helps in facing the competition keeping in
perspective the expectations of the customers and competitor's products that are
made available in the market by observing the market closely(Grzegorczyk, 2021). In
context to Tesco, it has many competitors such as Asda, Sainsbury, Morrison etc.
The company covers wider market share not only among rich people but also cover
middle income groups. It provides innovative or quality product line for its customers.
Tesco have good collaboration and efficient franchise to render services or supply
premium products that help the company to retain its market share.
Economic growth: The promotion activities make up demand to encourage
manufacturing and distributing activities. As a result, the development of the
industries are encouraged or profitability level improves because of addition in
occupation possibility. In relation to the Tesco, it also improves the standard of
leaving by offering superior and improved products which help in boosting the
economic growth.
4.0 An analysis of how the marketing function works and
interacts with other departments
Marketing is one of the essential pillars of the organisation that includes critical
human activity like market research and planning that are performed by the
marketing department. An organisation needs to create close link with other
departments or functions of the company to develop an effective marketing plan
which are depicted as under:
Marketing and production department: The marketing function has link with
the manufacturing section whereby an adequate research for the products and their
development is planned to fulfill the needs of the customers(Kumar,2018). Further,
the products are manufactured with premium quality keeping in perspective the
desire of the customers. Marketers makes effort in getting the products to the market
to gain the benefits over the competitors. On the other hand, the manufacturing
section makes an efforts to provide good quality products without any defect and
meet necessities or expectation of the customers.
Marketing and finance department: A marketing function needs to work with
the finance department to facilitate the budget requirements in searching, promoting
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and distributing the products. Financial function assist in business operations to meet
the need of finance and enhance profitability. The marketing function focuses on the
sale volume of products and its market share and finance department always have
more focus on the cash flows, cost and return on investment.
Marketing and Human resource management: This department also have
to work with the Human Resource department to manage the staff in its department
that are placed for researching, developing and promoting activities of the products.
t(Chia, Full, et. al., 2022). It also assist in meeting the production target and creating
capable sales team(Thaichon, 2018). The HRM department manage enlisting and
training of staff members where it meets its obligations with marketing department in
fulfilling their demand.
5.0 An explanation of the extended marketing mix and
examples from selected supermarket
Marketing Mix
The extended marketing mix is the collection of the seven Ps of marketing that intent
to accomplish the goals of a marketing strategy. With reference to this mix, Tesco
has been considered that covers the framework of marketing mix strategies. It
assists an organisation to position itself in the market by gaining relation over its
competitors and achieve its business goals and objectives. It covers the seven P' s
of marketing mix which are described as below:
Product: It refers to an item that are sold in actual by satisfying the needs of
the consumer through goods or services, (Elias, 2018). In context to Tesco it contains
in its marketing mix a wide range of product portfolio that covers items for all age
groups such as men, women and kids. It also cover middle and higher income group
in their segmentation that help company to increase its market share. The firm also
has collaboration with sustainable supplier in order to acquire and market ozone-
friendly merchandise. The packaging of a product is done by using of recyclable
materials that increase the confidence of potential buyers.
Price: It refers to the value that is placed for a product and customers are
willing to pay for it. In relation to Tesco, it follows the competitive pricing strategy
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because it provides various options of choosing to the customers. The price of its
products are placed according to the premium quality raging from medium to higher
category of people. Sometime it offers discounts on products during seasonal time to
attract more customers.
Place: It refers to the point of sale where it provides customers access or
convenience for the customers. In relation to Tesco, it has spread its presence in
international market with 4673 stores approx including franchise stores. The
customers can also buy their products via online mode as it also spread its presence
on websites to gain the competitive advantage.
Promotion: It is a communication used to make offer to the potential
customers at the market place and influence them to examine it further. Although,
Tesco has already made a sustainable position in the market by practising corporate
social responsibilities(Nayeem,2020).. The promotional strategies support people to
maintain the natural environment by using the best practices of supply chain that
safeguards the environment.
People: It refers to the staff and sales person who work for the business in an
organisation. The excellent services of employees create positive experiences for
the customers and in making brand loyalty. With reference to Tesco, the company
follows the performance payment policy to retain its employees. It also gives rewards
to its workers on the basis of their performance and motivate them towards better
presentation.
Process: It refers to the process involves in delivering of products and
services to the customers and ensure repeatedly deliver the same standard of
services to the customers by saving time and money. With reference to Tesco, it
stores can be found in urban and sub urban areas with divided sections for men,
women and kids. This help the company in providing services in time and consumer
also get the desired product easily.
Physical evidence: It cites the customers when interacting with business
environment, layout, interior, packaging and branding of the product. With reference
to Tesco, the company has its own website apart from stores in different countries
where customers are able to buy products online, thus all these stores represent
itself as the physical evidence for the company.
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2.0 An evaluation of how the marketing mix adopted by
the selected business (or business unit) contributes to the
success of the organisation in meeting their overall
business objectives
Marketing has great importance for achieving objectives of an organisation
because it helps in understanding the products or services that company offers to
the customers(Warrink, 2018). With reference to Tesco, it provides many benefits of
this mix in meeting the goals of the organisation that are as under:
Resource allocation: In context to Tesco, it provides valuable guide for
allocating its resources depend on the nature of marketing mix. Therefore, it doesn't
only maximise the consumer satisfaction but also provide profit to the firm.
Responsibilities allocation: With reference to Tesco, it allocates the
responsibilities to the members of team by virtue of the specialisation of a each team
member(Ghuman, and Merchant, 2018). Moreover, it helps in developing and executing
effective marketing strategies.
Customer”s needs: In relation to Tesco, it helps in understanding the
requirement of the customers for the product for which they are able to meet the
needs by providing them good quality products.
3.0 Recommendations
Marketing mix allows a company to gain profits in comparison to the
competitors that brings value for an organisation and its shareholders. In context to
Tesco, it is recommanded that it should use natural resources in manufacturing
products that provide lower cost to the company.
It should also choose unique geographic location to increase market share and
brand image recognition among the people. The company should improve tax and
compliance benefits that will assist in mitigating the expenses and product
development or diversification. This will help the company in gaining profits and
increasing sales.
9.0 Conclusions
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From this report, it has been concluded that marketing helps the company in
promoting their products to gain brand image and satisfies consumers wants by
supplying them good quality products. It is also learned how company should use its
marketing function to increase its growth of market share along with other
departments. Moreover, it has been learnt how company should achieve its goal by
implementing marketing mix strategies that assist an organisation to get competitive
advantage. It also displayed that extended marketing mix furnished various benefits
in attaining the objectives of the business concern. Thus, marketing is a crucial
function of an administration that displays an indispensable role in contributing to the
success in a concern.
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Table of Content
Part 2: Marketing Plan
1.0 How the strategic marketing plan links with the overall organisational
mission, corporate strategy and objectives p
2.0 Clear and SMART marketing objectives p
3.0 Marketing research to support the new product line launch p
4.0 A situational analysis p-p
4.1 Marketing audit, making use of appropriate analytical tools including
SWOT, Pestle and 5C analysis p
4.2 A competitor analysis including the market segments p
4.3 Sub-segments p
4.4 Articulation of the new product value-proposition in the eyes of the
customer p
4.5 Development of the marketing strategies applied to the extended marketing
mix p
4.6 Setting of an overall marketing budget, including allocation of planned
spend p
4.7 Tactical actions p
4.8 Identifying appropriate control and monitoring measures to ensure
achievement of objectives including metrics to measure success such as
Return on Marketing Investment (ROMI) and Customer Lifetime Value (CLV)
p
5.0 A comprehensive media plan that supports the planned marketing
campaign p-p
5.1 A media budget p
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5.2 Recommendations and rationale for selected and integrated multi-media
activities within the set budget that meet the marketing objectives p
5.3 Appropriate digital, offline and social media channels for communication
p
5.6 Full justification for a multi-media plan based on quantitative and
qualitative criteria p
References
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p
1.0 How the strategic marketing plan links with the overall
organisational mission, corporate strategy and objectives
1. Marketing plan is like a document that lays out the marketing strategies
for an upcoming period. It represents a summary in order to achieve
goals related to promotion of the products, and increase its share in
target market, timeline of the task completed and so on. In relation to
Tesco, Strategic market plan helps the company to differentiate itself
from its competitors by focusing on the strengths to provide better
services to its customers(Hanlon,2022). So, the elements which link the
company to its objective are as under:
Market research: In context to Tesco, a research provides detail
investigation about the customer's tastes, tendency, needs, competitors and
expected direction that help an organization to accomplish it goals and bring new
products in the market accordingly.
Target market: With reference to Tesco, it includes the business dealing
market on basis of demographics, location, income and so on to know the behavior
of consumer and increase market share for growth of the concern.
Marketing mix: It is a set of actions or tactics that a company uses to
promote its brand or products to attract the customer to buy products which includes
seven Ps of marketing that aid in implementing good marketing strategy to Tesco.
Competition: In context to Tesco, this element helps an organization to
identify its competitors in order to gain advantage along with strategies to encounter
and gain market share.
Marketing activities: In relation to Tesco, marketing activities helps in listing
the human activity related to accomplish the objectives that are scheduled for a
specific duration and indicates time lines which enable an organization to improve its
performance in attaining its goals.
Thus, marketing plan clearly defines marketing objectives of a business concern with
the help of these elements. It indicates an organization where it wants to be in any
specific period in future.
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2.0 Clear and SMART marketing objectives
SMART goals are goal-setting techniques that enables the team members to
create market plan in order to support and achieve the objectives of an organization.
With reference to Tesco, an effective smart goal helps the marketing teams in
clarifying what to achieve, how to achieve, helps in identifying the areas of
improvement and make prosperous change for the promotion(Elmograbi, 2021). So,
these is a framework to set goals for integrated marketing efforts which are as below:
Specific: A goal should be specific, concise, possible or clear so that they are
more likely to be achieved. In relation to Tesco, the goal is contained enough detail
so that people who are involved able to understand what results are expected.
Measurable: A goal should be measurable by setting standard in order to
achieve desired results. With reference to Tesco, a benchmark is set by defining the
expected outcome of a business concern.
Actionable: The goals should be realistically attainable based on the skills of
the team members, resource available in an organization and within specific time
frame. In context to Tesco, people are able to reach the desired outcome of a
business concern by using their skills and knowledge.
Relevant: The goals must be relevant to the business based on economic
condition and realities of the business climate in order to gain rivalry benefits. With
reference to Tesco, the company goals are always relevant to the business that help
in gaining the profitability.
Time bound: The deadline should be specified to attain the goals because
the goals become moving target or unlikely to reach without setting time
frame(Fotiadis, Mombeuil and Valek, 2018). In context to Tesco, it specifies standard
time to achieve the target so that it can be compared later with actual time taken to
improve its performance.
So, By using these SMART goals Tesco is capable to increase overall revenue and
improve customers relationships.
3.0 Marketing research to support the new product line
launch
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Tesco needs to search the market for understanding the preferences of customers
and competitor or their strategies in the marketplace to support new product line of
food. The company can adopt any method for researching a market, so tesco can
use surveys, focus groups, personal interviews, observation and field trials to know
the taste or perspective of consumers for making its research.
4.0 A situational analysis
4.1 Marketing audit, making use of appropriate analytical
tools including SWOT, Pestle and 5C analysis
SWOT analysis
SWOT analysis is a planning framework whereby a business can identify its
strengths, weakness, opportunities and threats. In context of Tesco, a new product
line of food is going to introduce in the market whose SWOT analysis is described as
below as below:
Strengths: Tesco has good market presence as it provides its products in
international market and has 4763 stores approx across the globe. This may assist
the company to maintain its high performance in bringing new product line and grab
market share.
Weaknesses: The financial position of Tesco is not so good because of poor
supply chain system. So, it may create hurdle in bringing new product line of food
and also affect the image of the company adversly.
Opportunities: The company is introducing new product so it has an
opportunities to know the taste of the consumer so that it would be able to provide
them products as per their needs and increase its sales(Hamid, et. al., 2021). It can
also expand it business globally so that it is able to reach to the customers that
provide them opportunity of earning more profits.
Threats: As there is high competition in the market, so it is a big threat for
Tesco to bring new product in the market. The policies of government also affect the
company because of alteration in policies that can impact revenue of the company.
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PESTLE analysis
It is an strategic tool used by an organisation to analyse the macro
environment that have impact on its business strategies or activities which are
describe below in relation to Tesco:
Political factor: With reference to Tesco, it can act and work closely with UK
government to protect the business from illegitimate interest and taxes by
responding to their queries. So this may aid the company to bring its new product in
the market that may increase its sales.
Economic factor: In relation top Tesco, a rise in inflation rates or interest
rates may affect the financial position of the company. But company can sell its new
products over discount prices to attract the customers.
Social factor: In relation to Tesco, the customers may get attracted by
providing them good quality food products. This would help the company in getting
good perception about the products of a company.
Technological factor: With reference to Tesco, it should bring new
technology model to enhance the customer's experience and also increase its sales.
Legal factor: In relation to Tesco, it follows government policies, procedures
and legal formalities to protect its employees and worker that prevent the company
from being penalised.
Environmental factor: In relation to Tesco, it help in making eco-friendly
environment by providing organic food to the customers(Shikhalev, et. al., 2018).
5C analysis
With reference to Tesco, the 5C analysis provide perception to key drivers of
success and risk influence to various environmental factors. With reference to Tesco,
this includes company, collaborations, customers, competitors and context that are
as under:
Company: This framework help a company to identify the sustainable
competitive advantage by using VRIO model that belong to the focal company.
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Collaborations: This allow Tesco in promoting the the particular good or
services across the country. This help the company in distributing the products
through easy supply chain.
Customers: In comntext to Tesco, it can reach to the group of potential
customers whether on basis of demographics, psycho graphics, geography etc.
Competitors: Tesco can find its competitors in the industry as focal
company. In order to find out the industry, a company needs to provide a
standardized method of analyzing an industry.
Context: It represents the areas that may affect the business by using
PESTLE analysis where the business exercises either limited control or not.
4.2 A competitor analysis including the market segments
The competitors analysis is a process of identifying competitors and researching
their different marketing strategies(Dolnicar, 2019). With reference to Tesco, a new
product line of food is going to be introduced by the company for which an analysis
has been done to identify the market segment which are as below:
Demographic segment: Tesco has introduced its products according to the
all age groups or gender so a new product line of food would be according to their
taste.
Geographic segment: Tesco has divided its products into various regions,
cities and countries(Moura, 2021). So, it would help the company to know the taste of
consumer and bring new food products according to their taste.
4.3 Sub-segments
Tesco has segmented its market on the basis of demographics where it would bring
it new food products according to all age groups. It also includes gender where by
products are provides as per their taste. Tesco also consider income group people
where it cover low income as well middle income category of people. So Tesco
would bring new products keeping the perspective of people and demographic
segment.
4.4 Articulation of the new product value-proposition in the eyes of
the customer
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It describe what the consumer will get out of the product. Therefore, Tesco will use
unique selling proposition or USP which makes the product unique from the rest of
competing brands in the market. This would help the company to motivate its buyer
to purchase its new food products in-spite of having higher cost. However, company
has widest selection of the products which it promotes some time on offer prices that
help the company in making their brand image and loyalty of customers.
4.5 Development of the marketing strategies applied to the
extended marketing mix
The marketing mix is the accumulation of seven Ps of marketing that assist in
implementing the marketing strategies to reach the goal of the concern. In context to
Tesco, its new food product would be organic and packaging would be done on the
basis of recyclable material that will increase the confidence of the potential buyers.
4.6 Setting of an overall marketing budget, including allocation of
planned spend
The marketing budget is a calculated quantity that will required for promoting the
products with direct or indirect marketing cost that are formed for next financial year.
It considers all costs such as advertising, public relation, employing staff, office costs
and other expenses for marketing. This budget is created to estimate the costs that
are essential for flourishing the business. With reference to Tesco, it would set its
budget considering all the cost which would incurred on all activities of promotion.
4.7 Tactical actions
Tesco, would implement certain techniques to achieve the marketing goals. It may
include individual marketing activities such as publishing blog posts, conducting
social media campaigns, generating leads and host events to existing and targeted
customers. The strategies would depend on the specific marketing of new product
that would develop realistic steps that can take company towards its objectives. The
association membership can introduce several marketing tactics such as inviting
reader to visit specific page on the website of a company and placing adverts on
billboards, TV, radio, online or print.
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4.8 Identifying appropriate control and monitoring measures to
ensure achievement of objectives including metrics to measure
success such as Return on Marketing Investment (ROMI) and
Customer Lifetime Value (CLV)
Return on Marketing Investment: This is a contribution of profit attributable
to market divided by investments or risks. It measures a degree to where cost incurs
for the promotion of a products which contributes to profits of a company.
Customer life time value: It is the entire value of a business to a customer
over the whole period. This would help Tesco in increasing the value of the existing
customers as it costs less by keep its existing customers than to acquire new one.
This would lead the company to success and development.
5.0 A comprehensive media plan that supports the planned
marketing campaign
5.1 A media budget
Tesco need to make a media plan that includes the details of specific channels for
message delivery, number of impression, cost per million clicks and creative
development specification by following the steps below:
 Tesco would need to send request for proposal to media vendors where it
would establish KPIs for each arrangement.
 It would link arrangements to budget line to ensure not to make overspend.
 Then, it would visualize flow chart and allotment analysis to create or
standardized insertion orders.
 Then it would generate tracking system for keeping track of purchase orders
associated with the budget and placements.
5.2 Recommendations and rationale for selected and integrated
multi-media activities within the set budget that meet the marketing
objectives
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Tesco can meet the marketing objectives by following the media budget where it can
deliver message to the target audience to attract them. It insure that marketing
investments are apportioned in such ways that make worth for a brand name and
would help in increasing its sales. This media activities would help the company to
educate customers about the product point of differentiation and create public
relations by providing them great quality products. By adopting advertising strategy,
a concern can be able to share message at the right place with the right audience.
5.3 Appropriate digital, offline and social media channels for
communication
Tesco can use the different types of channels for communication to the customers
which are as under:
Digital channels: The company can choose many digital channels for
proposal of its product which may include e-mail marketing, websites, search engine
optimization and so on.
Offline channels: The company can use newspapers advertisements, bulk
mailing, print material (brochures & rack cards), etc. for communication to public.
Social media channels: the company can use various social media channels
such as Facebook, twitter, Instagram, linked-In, google+ etc.
5.6 Full justification for a multi-media plan based on quantitative
and qualitative criteria
Quantitative research: This helps in attaining cognition and perceptive of
the social world. Researcher uses this method to detect the situation that affect
people as it produce objective data that can be clearly conveyed through statistic
and figures.
Qualitative research: It provides more realistic feel that is not expressed in
number of information and statistical analysis used in quantitative research. It
provides flexible ways of collecting, examining and explaining data and information.
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