This report explains the concept of marketing in the 21st century, role of marketing function, how Tesco uses these functions and how these functions work with other departments. It also evaluates the marketing mix adopted by Tesco and how it contributes to the success of the organisation in meeting their overall business objectives.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Marketing Process and Planning.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents INTRODUCTION..........................................................................................................................3 TASK..............................................................................................................................................3 Explain the concept/definition of marketing in the 21st century....................................................3 Describe the role of marketing function with examples from your chosen organisation...............4 Analyse how the marketing function works and interacts with other departments.........................5 Marketing mix of Tesco with their competitor Sainsbury's is as follows:......................................6 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..............................................................................................................................11
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 to describe 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. MarketingSales
Its focus is to move product of business to market from company. Its focus is on moving product from market to customers. Its focus is on needs of market.Its focus is on needs of company 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. For instances,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).
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
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. 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 cre The logo of the brand is original and understandable for the consuates 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 that are as follows - ï‚·Marketing department needs to coordinate with different departments like production, sales, finance and human resource. ï‚·With theproduction departmentit 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. ï‚·Thefinance departmenthave a whole organisation which it operates within its budget (Rayburn and et. al., 2021). Marketing department have to work within the allocated funds which the finance unit has allocated to it and this unit also makes sure that it provides sufficient budget the finance so that they can promote the offering in better way.ï‚·TheHRM departmenthave many recruitments across the organisation and it will have to balance with marketing and with those of other departments. Marketing department also need to interact with human resource management to ensure that appropriate skills and staffing are in place to meet the production targets, research new ideas etc. ï‚·Sales departmenthelp the marketers to identify the ideal customer for the business so thatmarketing departmentcan attract the customers. Having a strong relationship between two is necessary as it will enable effective cooperation. When sales and marketing works together the leads generated will increase. Marketing mix of Tesco with their competitor Sainsbury's is as follows: ElementsMarketing mix of TescoMarketing mix of Sainsbury's
Product-It is the offering which the business makes to its customers. Tesco caters to every needs of the customer. It provides a wide variety ofproductslikeclothing,food, stationery, cosmetics etc.It refers to what company is selling. Anything that company sold and has physical presence(Yeniaras and Kaya, 2021). It has a wide range of commodity to its customers with focus on quality. And it also developing thenewproducts.The fundamental purpose is to offer highqualitativegoodstotheir customers. Price-It is the value on which the customers are given the products or services by business. Tescohasefficientsupplychain works continuous with suppliers to reduce the prices of goods.It refers tothepricingstrategyofthe company's product based on what the customers are willing to pay. Itprovidesthecustomerthe valueofmoneyandmaintains product quality with reasonable price.Itusesseveralpricing tacticssuchaspsychological pricingtacticstohavehigher amount of sales. Promotion-It involves promotional activities which the business undertakes in order to advertise its offering. It has a good brand image and it helps the company in promoting its products.Organisationuses newspaper,televisionandother channelstopromotetheir commodities.It means promoting the company's product. Rising awareness of a brand within the market. ItusestheATLandBTL promotional strategy to influence customerattention.Ituses television, radio and other digital channelstopromotetheir products.Itconcentrateson utilising graphical art and as well asopticmediatodeclare promotional campaign. Place-It is the place wherein the products will be made available to the customers. Ithastwomainchannelsof distribution online as well as offline. It allows the customers to get the products quickly. It has 7000 offline stores worldwide(Marketing mix of Tesco(7PsofTesco)).Itrefers where the company is selling their Ithas500+supermarketsand 700conveniencestoresand some of the stores are working 24*7. It also have home delivery thatattractsthe customer(Sainsbury'sMarketing Strategy&MarketingMix,
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
product. Place is very important as customerwantsquickdeliveryof products. 2022).Italsoofferseffective products by supermarket. Online and social media that can also be an effective source for business to sell their sections. Process-It involves different process which the company uses in order to bring the best product to customers. In stores customer can pick up their productsandgotothecustomer assistanttopay.Selfservice machinesalsousedtomake payments.It refers to the processes ofdeliveringtheproductto customers effectively. Ithassystematicprocessthat makes the customer convenient withitsclickandcollect services. The functions are well structured and try to have goods effectiveness.Management strictly concentrates on managing of qualitative of goods. People-It includes the staff member of business. It has a large customers which makes itasuccessfulcompany.Italso investhugeamountinemployee training and development.It refers to anyone who involved in the business. Itincludesstaff,salesperson, management and customers. It has a well trained experts and professionals who aware with the customer reaction(Zeneli and et. al.,2018).Companyalways givesfirstpreferencetoits customers.Theyalso concentratesondevelopinga consumer relationship for longer term with revenue generation. Physical evidence- This involves the point of attraction for the customers which attracts them towards business. Its products are well classified which makes easy for their customers to find them. It has a excellent logo and wellusesofcolours.Itrefersto everything your customer see when interacting with your business from the beginning . It includes packaging, branding, layout and interior design Ithasexcellentstrategyto marketitsproductsthrough physical evidence. Various store designandlayoutattractsthe customers. The logo of the brand is original and understandable for the consumers.
of stores. 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.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
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.In20212ndInternationalConferenceon 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>