Marketing Management and Functions Analysis

This assignment provides a comprehensive overview of marketing management and its functions. It emphasizes the importance of coordination from a seller's perspective, focusing on customers' solutions, costs, convenience, and communication. The analysis also explores how marketing influences and interrelates with other functional units. By understanding these aspects, companies like M&S can accelerate their growth and development.

MARKETING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Concepts of marketing and analyze the current and future trends that transform the marketing
functions ......................................................................................................................................3
Roles and Responsibilities of marketing and how it’s affecting the role of marketing manager 5
Critically analyze how marketing influences and interrelates with other functional units..........8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing is an important department which must be look over for smooth running of
businesses in an organization for its overall progress. It is interconnected with development and
designing of product, sales, promotion, improving retention rate and many more such functions.
This report purpose is to understand the contribution of marketing in Marks &Spencer, which is
a British multinational company. It will include about the roles, responsibilities with marketing
concepts at an organizational structure. This report will describe about the processes related to
marketing that will help in boosting the marketing functions. Lastly, it will include a PowerPoint
presentation on the critical analysis of influence of marketing in the market.
MAIN BODY
Concepts of marketing and analyze the current and future trends that transform the marketing
functions
The concepts of marketing have paved a path of widespread reach to customers and
promotion of products and services at global level. There are mainly four major concepts
followed by Marks & Spencer such as Product, Selling, Marketing and Societal-Marketing. Their
implications affect the STP for a product or service (Gill, 2018). It supports in market
segmentation to develop diverse profiles for proper identification of targeted market segments so
that an evaluation can be done. Further, its advantages must be developed and selected with
relation to positioning of that product. Lastly, a marketing plan to be chalked out for achieving
profits.
CONCEPT AREAS OF FOCUS OBJECTIVES DESCRIPTION
Product Products To increase demands
by customers to gain
profits
This focuses on the
quality of M&S
products at
reasonable pricing,
which will lead to
little marketing
efforts to sell it
(Stark, 2015).
Selling Products To enhance sales by
increasing
Through
digitalization like
3

productivity and
quality to attain
revenues
Facebook, mobile
apps and more with
promotional activities
like contests, offers,
discounts etc. can
assist in an
aggressive selling
effort in fetching
M&S customers
attention
(Ramaseshan, Ishak
and Rabbanee, 2013)
Marketing Requirements and
needs of customers
To improve
customers
satisfaction
This includes an
understanding in
context of M&S
customers’ needs
effectively to combat
the competition by
employing integrated
marketing strategies
Societal-Marketing Public welfare with
satisfying customers
To accomplish all
organizational goals
as well as
responsibilities
towards society on
the whole
M&S management
has incorporated CSR
to build a bridge
between profitability,
welfare of society
and consumer’s
needs.
Figure 1. Core marketing concepts
Analysis of current and future trends:
Trends are based on the fundamental approaches to bring attention of customers towards M&S
products and latest advancements. There has been plethora of current as well as future trends
implemented by this company, which are as follows:
 Customer Relationship Management (CRM)- It emphasis on the M&S execution of
various technologies, processes and tactics while managing their businesses to form a
relationship with the clients. E.g. M&S website must be updated so that when visitors
4

click on it, they can get the entire information regarding upcoming events, newsletters
and more.
 Search Engine Optimization (SEO)- There are factors like keywords, content, viral
marketing that can support M&S to advertise and promote their products effectively with
cost effectiveness.
 Social Media Marketing- It has turned out to be the biggest platform in present time and
future as well for promotional activities and advertising products conveniently (Tiago and
Veríssimo, 2014). Using tools like Facebook, twitter, website, email etc. can expand in
the loop of interaction with their customers through a transparent channel.
 Mobile communications- These are considered as the potential center to deliver the
targeted market with proper ads or texts as the vogue of tele-marketing is still prevalent
and has relevancy.
 User generated content- This involves user generated content through facial coding while
M&S customers would be conducting a website log-in procedure (Zolkepli, 2016). It is
slowly reaching the mainstream market, yet will be adopted completely by 2020 as it will
help consumers to avoid the unnecessary material available online while making their
buying decision.
Roles and Responsibilities of marketing and how it’s affecting the role of marketing manager
Communication- This is one of important responsibilities to have a clear and transparent
channel for pursuing the objectives, goals and mission of M&S to increase their revenues.
Internal Channels of M&S: During their campaigns, or other advertising methods, the M&S
management must design the digital marketing tools in appropriate manner that can help in
circulation of their products effectively. E.g. Brochures, leaflets, newsletters related to their
product etc.
Channels outside M&S: Agencies which can be hired for promoting their products or retailing
through collaborating with different e-commerce companies can assist them in selling of their
products on larger scale.
5

Defining strategic plans- They are the creators of developing the ideas or concepts related to the
product development and promotion as well (Jobber and Ellis-Chadwick, 2012). Their emphasis
is on minimizing the operational costs and aligned these with respect to targeted markets,
competition by strengthening more on M&S objectives.
Improving Sales support- There is a direct link between sales and marketing. M&S must have
laid a mechanism of high quality to speed up the growth. In this regard, they can distribute
supplies or stock materials to gain prospects.
Monitoring competition- It is crucial for M&S to have a tab on their competitors every move
which is used to measure Return of Investment. Along with, this aids in understanding the
departments requirements to stay ahead by delivering products with quality and time efficiency.
Tracking trends- With the help of this, M&S can keep a track on their competition as well as
gain knowledge about their own positional location in the global competitive markets.
Transmitting values of company- The marketing team of M&S can be able to convey any
updation or messages through a consistent mode so that they can create proper image and brand
awareness in the pool of other companies (Harrison and Lock, 2017).
Encouraging innovation and cordial relationships with marketing partners/shareholders-
They must surprise their company’s shareholders, employees and clients through employing
programs, retention techniques, promotions and more.
Developing product development- M&S designing team is creative and by following the trends
of various marketplaces, they implement the planning of developing their new product or
modifying their existing product in better manner.
Analyzing data analytics and information systems- This is important part to understand the m,
market positioning of M&S in the global competitive market. With help of avaliable data, they
can conclude their expansion plans. Also, proper information systems can assist all teams of
M&S to work in proficient order to attain objectives effectively.
With the above context, the marketing managers play a pivotal role in embracing
all the responsibilities. These managers can lead the brand reputation on their shoulders by
assigning the tasks to all the staff from other departments in proper manner. They are the
6

designers of advertising campaigns to promote M&S product or service properly. They only
decide the market segmentation with identification of marketability of a launch for a product or
service (Hartley and Claycomb, 2013). For this, these managers should be able to perform
complex research of a product, which consists of Swot analysis in both marketplaces, i.e.
traditional and non-traditional ones. These are mainly responsible for assessing the negative
publicity in all arenas so that they can bring credible solutions.
In addition to the above, it is imperative to conduct an analysis to know about these roles
and responsibilities with respect to the marketing environment. Marketing environment is
combination of both external and internal factors and thus, these roles and responsibilities must
be in line with the external factors like legal, social, environment, economic factors etc. that has
an effect the reputation and quality of M&S products. This environment helps M&S marketing
team to evaluate the existing competition, tracking their concepts, product innovation and profits,
monitoring the latest trends. Along with, by incorporating the internal factors like shareholders,
employees, retailers etc., this can support M&S to draw strategic decisions to improve sales and
encourage innovation as well.
The following are the processes of marketing which boost the opportunities, selection of
targets, development and management of marketing mix through appropriate analysis to aim the
right customers.
Analyzing opportunities at marketplaces: It is important footstep to avail the opportunities
present in market as per customers' needs and requirements. Here, the inclusion of effective
research on the marketing gimmicks, trends etc. can support the structural factors such as
financing, distribution and selling with precise outcomes (Cross, Belich and Rudelius, 2015). In
this regard, MIS (Marketing Information System) help in giving vital data, statistics, information
about the global market with emphasis on each segment potentiality on demographics like
location, age etc.
Selecting Target Market: This emphasis market segmentation, market targeting and market
positioning that include campaign of M&S to utilize the findings with respect to selling,
promotion and financing. M&S can initiate this process by concentrating on the benefits that can
be incurred for longer success and growth. This will affect their customers’ retention power as it
will put insights on the pricing matrix to appeal their potential buyers. This step must be done on
7

an unambiguous, open ended methodology to have a more controlled hold on the activities of
production. The process where the entire market is divided into small segments called niches for
making strategies is segmentation and when these niches are ascertained to provide appropriate
opportunities so that customers are attracted. Lastly, positioning is done to gain maximum value
in terms of sales and revenues.
Developing marketing mix: This is combination of certain variables like product, price, place
and promotion to can develop an effective system by blending allocated resources in optimum
manner for promotion of product or service. Here, the companies must incorporate a suitable
marketing program by establishing coordination from perspective of sellers. It mainly focuses on
customers' solution, costs, convenience and communication.
Managing marketing efforts: With respect to marketing, there are four components that are as
follows: analysis, planning, implementation and control of marketing. Firstly, SWOT analysis of
company is done to have an understanding while planning the entire project in terms of
achieving objectives. This would later help the team to establish their marketing tools in
proficient manner so that overall results of performance can be evaluated and accomplised.
Critically analyze how marketing influences and interrelates with other functional units
Enclosed in a PPT.
CONCLUSION
It is summarized that the role of marketing and its functions with proper guidance by
managers can accelerate the growth and development of M&S. Furthermore, this company can
follow guidelines to analyze the current trends to make its promotional gimmicks more
effectively. Along with, their marketing team can refer few futuristic trends in mind to gain
customers attention promptly and quickly leading to minimize the costs and maximizing the
profits. In addition to this, marketing managers’ contribution towards the entire product
development with administration has also been described briefly so that M&S can define their
responsibilities according to demand of market and targeted consumers.
8

REFERENCES
Books and Journals
Cross, J.C., Belich, T.J. and Rudelius, W., 2015. How marketing managers use market
segmentation: An exploratory study. In Proceedings of the 1990 Academy of Marketing
Science (AMS) Annual Conference (pp. 531-536). Springer, Cham.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach.
Routledge.
Hartley, R.F. and Claycomb, C., 2013. Marketing mistakes and successes. Wiley.
Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th).
McGraw-Hill Higher Education.
Ramaseshan, B., Ishak, A. and Rabbanee, F.K., 2013. The role of marketing managers'
commitment and involvement in marketing strategy implementation. Journal of Strategic
Marketing. 21(6). pp.465-483.
Stark, J., 2015. Product lifecycle management. In Product Lifecycle Management (Volume 1)
(pp. 1-29). Springer, Cham.
Tiago, M.T.P.M.B. and Veríssimo, J.M.C., 2014. Digital marketing and social media: Why
bother. Business Horizons. 57(6). pp.703-708.
Zolkepli, I.A., 2016, July. Changing Consumer Culture in The Wake of Web 3.0: Mobilizing
Online Crowd Competency and Expertise Through Crowdsourcing Engagement. In 3rd
European Conference on Social M di R h Media Research EM Normandie, Caen, France
(p. 440).
Online
Gill, K.,2018. Marketing Functions. [Online]. Available through:<
https://www.pinterest.com/keyounggill/marketing-functions/>.
9