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

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Added on  2023-06-15

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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.

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

   Added on 2023-06-15

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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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Marketing Process & Planning: Concept, Functions, Mix, and Strategies_1
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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Marketing Process & Planning: Concept, Functions, Mix, and Strategies_2
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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Marketing Process & Planning: Concept, Functions, Mix, and Strategies_3
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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Marketing Process & Planning: Concept, Functions, Mix, and Strategies_4
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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Marketing Process & Planning: Concept, Functions, Mix, and Strategies_5
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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Marketing Process & Planning: Concept, Functions, Mix, and Strategies_6

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