This presentation discusses the key roles and responsibilities of marketing function, comparison of ways in which organizations apply marketing mix to achieve business objectives, and a comprehensive media plan for Tesco's Cottage Pie. It also provides insights on digital, offline, and social media channels for communication.
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MARKETING PROCESSES AND PLANNING
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TABLE OF CONTENTS TABLE OF CONTENTS INTRODUCTION KEY ROLES AND RESPONSIBILITY OF MARKETING FUNCTION EXPLAININGROLES ANDRESPONSIBILITIESOFMARKETINGFOR WIDER ORGANIZATIONAL CONTEXT COMPARISON OF WAYS IN WHICH ORGANIZATIONS APPLY MARKETING MIX TO ACHIEVE BUSINESS OBJECTIVES MARKETING PLAN COMPREHENSIVE MEDIA PLAN CONCLUSION REFERENCES
INTRODUCTION Thesepracticesincludetheadvertising,sellingand delivering products for the consumers or business products for the consumers to business. This is considered to be the effective for the affiliating on the behalf of the company. Two chosen organization in this project is Tesco and Marks &Spencer.Inthisprojecttheroleofmarketingis interrelated to the other business units for an organization. In this project the comparison of the ways in which two different organization utilize their marketing mix will be done.
KEY ROLES AND RESPONSIBILITY OF MARKETING FUNCTION Marketing refers to the activities of the company which is undertaken for the promotion of the buying and selling of products and services. Use of category sales : Marketing for retailers helps in the categorization of the type of product that are offered in retail customers. These products are that are sold in the grocery stores are defined as the categories of food, beverage, laundry, snacks and others. Cross-selling and Up-selling : Tesco uses marketing as a strategy to cross-sell and up-sell products and merchandise to increase the overall expenditure.
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CONTINUE.. The interrelationships ofmarketing functionwith other organizational functions can be explained as the marketing function which are part of business. This is the departments functional units which are connected to each other. Marketing helps the business to attract the customers which is helpful for the development of the interest in their products. This is considered to be essential for selling products and services which meets the wants and needs of the customers. The synergy and close communication between these functions help business like Tesco to achieve its targets and goals.
CONTINUE.. Roleofmarketingwithproduction,sales,HR,FinanceandResearchand development is important to be considered for focusing on the efficiency in the management operations. Defining and managing your brand : This is also considered to be the factor which is helpful for the definition of the stand for which helps the business in acting as it turns and defines the experience of the want of the customers and partners. To have the interaction with the company acts which is helpful for defining the experience that the customers and partners have when they are able to interact.
CONTINUE.. The marketing of an organization has a very dynamic role in the marketing environment. Marketing impacts the marketing environment as its modification is considered to bring changes in the marketingenvironmentthatbringsthreatsand opportunities for the organization. This is hence helpful for identification of the needs of the customers. Marketing allows the business to communicate with the business however, it can be very expensive in nature.
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COMPARISON OF WAYS IN WHICH ORGANIZATIONS APPLY MARKETING MIX TO ACHIEVE BUSINESS OBJECTIVES Marketing mix is helpful for understanding what the products and services can offer to the customers and help in planning a successful product which are offered. It is helpful for the business in making useful strategies and avoid unnecessary costs. The comparison of the marketing mix of Tesco and Marks & Spencer the fashion line products is as follows, Product : Tesco for its fashion products has been known as wide range of variety in the fashion products. Mark & Spencer as an organization has the major operations of fashion products hence, the products of this organization are more versatile and according to the trends of the society.
CONTINUE.. Products quality can be improved by Tesco to offer the products that fulfils the demand of the existing consumers. Price of this organization has been considered to be the factor which is helpful for the business. Place of this organization has been considered to be the factor whichishelpfulforthebusinesstoinfluencethebusiness effectiveness. Promotion can be improved with the help of digital marketing practices. The focus of Tesco for their marketing mix needs to be on gaining differentiation in their products, prices, place and promotions.
CONTINUE.. For the achievement ofthe business objectivesTesco need to effectively use its marketing mix. The holistic marketing strategy is considered to be the one which can be effectively used by Tesco to achieve the results that is considered to be the key practice to improve the marketing mix elements. The key elements is considered to be the involvement in the marketing of the good or service that can be interacted significantly with each. This is the factor that will be allowing Tesco to achieve the organizational goals and objectives.
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MARKETING PLAN Overview The strategic marketing plan of Tesco will be made for Cottage Pie which is one of the luxury food products of this organization. The aim of this marketing plan is influence the market to purchase this product. Reaching the customers with the marketing practices for achieving the growth that is required. Tesco has been known for its food products and has been very successful in its implications. Mission To capture the market of Cottage Pie with influencing the customers by marketing practices.
CONTINUE.. SWOT Analysis : Strengths-Thecost-effectivenessofthisorganizationduetothelargescaleof production is the biggest strength it has that allows its to keep its price low and competitive. Weaknesses-Major weakness of this organization is that it fails to achieve the quality in its products due to its dependency on the suppliers. Opportunities- Utilization of digital marketing practices is an opportunity that this organization is yet to explore. Threats-Increase in the competition in the market in the food sector is a big threat to this organization's success.
CONTINUE.. 5C ANALYSIS Company-Marketing of this organization will be starting from the company as the main aim is to develop the brand image. Customers-The customers of this product are daily customers to the supermarkets of this retailers also known as shoppers. Competitors-There are many competitors of this organization in the market which includes, Sainsbury, M&S and Walmart. Collaborators-The suppliers of this organization are the main collaborators that will help this company achieve the goals. Climate-The climate of UK supports this product and specially during the winters this is going to be the favorite of the customers.
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TABLE OF CONTENTS COMPETITORS ANALYSIS Budget MarketingM&SSainsbury ProductKnown for its fashion products more than the food products. Good quality product but not as effective as Tesco PlaceBoth online and offline platforms of retail.Mostly dependent on the supermarket stores. PriceHigh price, High valueLow price and medium value. PromotionUtilizes social media, SEO and other digital marketing tools. Focusesontraditionalmethodsof marketing. Marketing expensesAmount Market research4000 Search Engine Optimization8000 Social Media marketing6000 Video Advertising20000 Total38000
COMPREHENSIVE MEDIA PLAN MEDIA BUDGET STRATEGIC GOALS To influence the customers towards the brand image of the organization with the help of providing quality to the customers. Media ToolsAmount Acquisition marketing media spend5000 Creative & Studio spend6000 Content Marketing & SEO activities4000 PR & Marketing Events6000 Research, Insights & Tools investment7000 Marketing team/staff costs10000 Total Cost38000
TIMELINE Media Activities JanFebMarAprilMayJuneJulyAugSepOctNovDec Campaign Goalsand Tracking Customer Insightsand Target Audience Plan-Offer, Contentand Messaging Mediaplan creation Interaction and participation Converting- retargeting optimizing Engaging Reviewof media effectiveness
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ESTABLISHING MESSAGING AND CREATIVE ASSETS The utilization of an effective USP and other creative assets can help the media plan to impact the audience. This is going to be the factor that would influence the product into a market positioning. Recommendations In order to achieve the success with the marketing utilization of media can be considered to be the most effective form of social media strategy that is vital maintainingthecustomersandrewardingtheir outcomes.
DIGITAL, OFFLINE AND SOCIAL MEDIA CHANNELS FOR COMMUNICATION Following are the proper communication channels that are effective for the communication in the marketing of Tesco, Inbound marketing :This is the channel which is very effective indevelopmentoftheawareness,generatingleadsand converting the leads into the paying customers. PPC Advertising :PPC can be more effective with the help of GoogleAds,Facebookandotherformsofsocialmedia platforms which makes sure that someone for doing designed campaign. Videos :Videos are known as one of the most effective media channel that can help with the marketing of food product.
QUANTITATIVE AND QUALITATIVE JUSTIFICATION OF MULTI-MEDIA PLAN Thetimelinethathasbeencreatedhelpsin explaining that the media plan will be successful due to the effective strategies that are involved for supporting its success. The goals that are created for the media plan are produced keeping in mind the key strategies that needtheorganizationtoinfluencetheuseof specific resources. In this budget the focus has been on the resources of the organization which will be providing the quality and success to the media plan.
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CONCLUSION From this project it can be concluded that Tesco has been very competitive in its market of both food and non-food products. Thisprojecthasbeenabletoexplaintheroleof marketing and its interrelation with other business units. Inthisprojectthecomparisonofwaysofthe organization that can use elements of marketing mix to achieve overall business objectives has been made. This project has been successful in the development of bothmarketingandmediaplanthathelpTescoto improve the sales of its Cottage Pie.
TABLE OF CONTENTS REFERENCES Books and Journals Al Badi, K.S., 2018. The impact of marketing mix on the competitive advantage of the SME sector in the Al Buraimi Governorate in Oman. SAGE Open. 8(3). p.2158244018800838. Blut, M., Teller, C. and Floh, A., 2018. Testing retail marketing-mix effects on patronage: A meta-analysis. Journal of retailing. 94(2). pp.113-135. Brioso, J. and Borbon, N.M., 2022. Digital marketing among DOT accredited hotels in Camarines Sur: Basis for marketing plan. International Journal of Research. 10(2). pp.63-77. Chatterjee, S. and Kar, A.K., 2020. Why do small and medium enterprises use social media marketing and what is the impact: Empirical insights from India. International Journal of Information Management. 53. p.102103.