Marketing Mix and Its Importance

This assignment analyzes the concept of marketing mix and its significance within an organization's culture. It also explores how marketing mix can be used to develop new managerial opportunities and growth strategies for sustained company performance. The document provides a comprehensive overview of marketing mix effects on private labels brand equity, social media marketing, customer experience management, and innovative business functions.

Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
a) Explaining the key roles and responsibilities of the marketing function relate to the wider
organisational context.................................................................................................................1
b) Analyse the roles and responsibilities of marketing in the context of the marketing
environment................................................................................................................................2
c) Analysing the significance of interrelationship of between marketing and other functional
units within the organisation.......................................................................................................2
d) Critically evaluated and the key elements of the marketing function and interrelationship
with other functional units..........................................................................................................3
LO 2.................................................................................................................................................3
1) Comparing the two organisations apply marketing mix to the marketing planning process to
achieving the business goals.......................................................................................................3
2) Evaluating the different tactics applied by organizations to demonstrate the business
objectives can be achieved..........................................................................................................5
LO 3.................................................................................................................................................6
1) Produce and evaluate a basic marketing plan for a company.................................................6
2) Explaining the detailed evidence based on marketing plan for an organization....................7
3) Design a Strategic marketing plan that tactically applies the use of the 7Ps to achieve
overall marketing objectives.......................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing is the essential concept for the firms to analyse the need of their customers and
then make decisions to satisfy those needs and wants of the customers. Marketing is all based on
the needs of the clients and adopt the latest trends and results. Present study based on marketing
of Zara which is the Spanish fashion company in Arteixo Spain. Further in this report will be
including the roles and responsibilities of the marketing function in the wider context of the
chosen company. It also explains the meaning of marketing mix that will be helpful to achieve
the business objectives. Company marketing strategies will also explain by supported marketing
plan.
LO 1
a) Explaining the key roles and responsibilities of the marketing function relate to the wider
organisational context.
Marketing department is the essential function within every organizations to achieve the market
demand or company goals. Marketing manager or the whole department is responsible to work
done in precise manner with full of motivation and goals. the elementary functions of marketing
functions are planning, setting objectives for marketing department, organising, staffing,
directing, controlling, evaluation (Abril and Rodriguez-Cánovas 2016). On the apart, marketing
functions has several roles and responsibilities while they planning for the new strategies such
are given below:
Listening to customer needs: it is the foremost role of marketing manager to analyse the
needs of customers before planning for the new product or services. The best way to analyse the
client requirements is to connected with the buyers from online or through company websites
just to collect positive and negative feedbacks.
Track Trends and monitor competition: This is another significant responsibility of a
marketing manager in Zara to understand and adopt the current trend in the market (Alves,
Fernandes and Raposo, 2016). Marketing functions has to be measure the best or identify their
mistakes to avoid falling into them.
Innovate: Marketing functions also play a important role while they planning for the new
product is to evaluate the new innovation such as make customer surprised, give different offers
etc. Innovate something is to create some more valuable thing for the business success.
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b) Analyse the roles and responsibilities of marketing in the context of the marketing
environment.
Marketing department is the interrelated with business activities that enlarge the role of a
marketer from one of selling, what has been produced, to one of influencing, what is to be
produced. It helps to discover the new range of style. Marketing function play a role where they
need to create value or satisfactory level for customers to get their positive behavioural results.
On the other side, customer relationship management is a process of managing detailed
information about the individual customers and using them to build customer loyalty.
In other words, marketing environment is mixture of internal or external factors that
affect the business into higher manner (Armstrong and et.al., 2015). Marketing is responsible to
identify the possible threats that faced by the Zara in the marketing environment. On the apart,
marketing is also responsible to maintained the good relationship with company stakeholders
such as suppliers, Market intermediaries and partners, customers, competitors, public etc.
Another responsibility of marketing is to be loyal and faithful with the clients to get the
good feedbacks from the society. It helps to be more energetic and long lasting developmental
goals.
Another responsibility of marketing in marketing environment is to understand the
demographic need of the customers as per the basis of size, density, location, age, gender race
and occupation of the client.
c) Analysing the significance of interrelationship of between marketing and other functional
units within the organisation.
Human Resource department with marketing: HR department is the area which has to be
overlook recruitment and selection process of new candidates or also ensure the positive
environment within the company environment in order to fulfil the employee needs and wants
(Baker, 2016). Marketing manager use HR department to get help against recruitment of
marketing assistant. For an example: Zara Marketing Manager present the requirement of
Marketing assistant for the new store in such case HR department is interrelate with Marketing
department.
Information Technology department with marketing: It is another department that
would help to restore the new learning target performance in in order to link with Marketing
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department. In other words. Marketing function get help from IT department in order to collect
the information regarding company website, intranets and extranets.
Research and development department with marketing: R&D is the significant
department within the company which is responsible to innovate new product or services to
expand the business growth and popularity ratio. Marketing manager should always need to
connected with R&D department in order to take the view of new product development process
in Zara.
Financial Department with marketing: it is the vital department with every department is
connected to get their needs fulfil. Marketing manager fulfil their all requirements regarding
purchasing or need any investment amount (Charter, 2017). They get fund from the financial
department, this is the reason marketing function should need to connected with financial
departmental to take help.
d) Critically evaluated and the key elements of the marketing function and interrelationship with
other functional units.
Marketing elements is the essential components that helps to accomplish the marketing
objectives and goals within the Zara. All the elements of marketing interrelate with other
department in some manner. Such as product is the significant element of marketing which
interconnected with the R&D department in order to generate NPD. Besides, Price is the element
of marketing function which interrelate with financial functional in order to make the different
goals and objectives in order to accomplish the new working department in order to meet out the
best developing result to get the best ideological scenario and working goals. Unit that helps to
decide the product prices as per the dependent cost of the product. Promotion is the most
significant element of the marketing that helps to retained the market opportunity and help
marketing functions to enhance the customer attraction growth.
LO 2
1) Comparing the two organisations apply marketing mix to the marketing planning process to
achieving the business goals.
Marketing Mix Zara H&M
Product Zara is one of the leading brand
across the world who deals with
highly quality products in fashion
H&M also deals with high range of
variety of products in men, women
and children section. It also provides
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industry. Zara offers for both men or
women and children clothing
outlets. Such as T-shirt, knitwear
shoes, bags and accessories, jeans it
will help to describe the new
managing successful business
growth or challenge in order to meet
out the best outcome results. Zara
launched 10,000 new deigns in
every year.
women accessories, beauty and ready
to wear items. They offer clothing
brands in various countries across the
globe such as H&M, other stories,
Cheap Monday, COS, Monki and
weekday etc.
Price Zara offers premium quality
products to their customers which
are highly trendy and latest design.
It also affects the new effective
branding product or services in order
to meet out the customer needs. As
per that, Zara adopt low pricing
strategies who can easily buy middle
and upper-class people.
As compare to Zara H&M offers
higher price at premium level.
Place Zara has enormous reach with stores
in 88 countries with over 6500
outlets. Zara also sell products
through online. Overall, supply
chain of Zara is gain high
competitive advantage (Homburg,
Jozić and Kuehnl, 2017).
Commercial team of Zara easily
contact with the headquarter to let
them know about the new trend in
the market.
H&M having approx. 4135 stores
across the globe. Company also
provides their outlets through
franchising as well.
Promotion Zara less invest on advertisement H&M uses promotional activities
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because they already have good
reputation and demand in the
market. Also, company does not
engage with any marketing
campaign. It having the Unique
selling proposition.
through different medium such as TV
advertisement, YouTube, Digital
marketing, PR etc.
Physical
Evidence
Zara explore offers and exciting
prices or flat on their products to get
the customers attraction. They
provide discount coupons in off
season where customer can easily
buy more clothes from the company
outlets.
H&M attract its customer’s through
its great ambience and humble staff.
They provide to customer a great
company look which is simple,
allegiant and loyal.
People Zara hires well professionals for
representing the value in front of the
customers. Besides, Zara also
provides training and development
facilities for their employees to
maintained the customer relationship
management.
H&M trained their employees as per
the customer wants. In case of any
customer quarry, H&M employees
are always ready to solve all those
queries and let them happy with great
outcomes.
2) Evaluating the different tactics applied by organizations to demonstrate the business
objectives can be achieved.
Zara is the well-known brand in fashion clothing industry. They also having great and huge fam
following across the world (Lewis, 2016). Zara adopt Marketing strategy of on focusing on
pulling people in, not pushing out. Other fashion clothing company still engaged with 4Ps but
Zara has evolved to the new 4Es of marketing strategy which are Experience replaces Product,
Exchange in new Price, Evangelism in now Promotions and Every place is new place (Tunisini,
and Sebastiani, 2015). This tactic of Zara would help them to get new higher opportunity in the
overall market. This would help to discover the new range of more highly advanced technologies
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and make the best outcome results. This is the marketing tactics that helps Zara to achieve all
objectives and goals.
Zara also believes on that company should makes customer experience king. This tactic
will help to motivate buyers and attract towards the company objectives. Besides, for that, Zara
frequently launches new product which is inspired by latest trend. This process will help to
discover the new learning and advantage goals to make the best outcome results and growth.
LO 3
1) Produce and evaluate a basic marketing plan for a company
Executive summary: Marketing for the company is the process to promote their product or
services with great extent. Present marketing plan has been based on Zara products where they
planning to launch new organic beauty products for women (Mayrhofer and Roederer, 2016).
Marketing plan has been described target customers, company USP, Pricing Positioning strategy,
Distribution Plan, etc.
Target Customers: In order to launch the new organic beauty product company target
customers are women who obsessed with beauty products and always concern with quality of the
products. For that, Zara has planning to launch new product enhancement as per the need of the
buyers.
Unique Selling Proposition: The Zara USP is high quality products with different variety.
Pricing Positioning strategy: in the initial stage of the product Zara has adopt low pricing
strategies for the organic beauty products.
Distribution plan: To sell products company adopted different channels of distribution
such as online, on stores etc.
Promotions Strategy: Zara organize a beauty contest for women in order to launch the
new organic beauty product in order to attract women towards the new product.
Budget: In order to launch the new product or services, company will be going to invest $1600
billion in which includes all activities such as marketing, promotional, operating and human
resources and other expenses etc (Moorman and Day, 2016).
SWOT analysis of Zara
Strength
 Zara is well known brand image in the
market.
Weaknesses
 Limited marketing advertising as
compare to other brands.
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 It has more than 2000 stores in all over
the world.
 Its clothes are highly competitive in
price with the most innovative and
fashionable designs.
 Zara having limited market due to
number of competitors.
Opportunity
 Expansion of the company outlets in
some more countries, cities.
 Adopt marketing promotional
activities.
Threat
 High fashion merchandising can be
major threat to them.
 Uncertainty in environment.
PESTLE Analysis
Political: In order to launch new product in the market company should measure the
possible threats involved in the political environment that might be affect the product strategies.
Political factor influenced by political policies due to which prices are affect. It also affects the
leading and challenging working ideas and new long-lasting way of promotional activity and
leading ways.
Economical: Economical factors are another significant factor that affect the business
activity due to uncertainity in unemployment and high population and the cost of labour is low
leading to low production.
Social: Company must need to evaluate the social factors that affect business in both
positive and negative manner. In order to analyse the best outcomes and long-lasting result goals.
Technological: Technological factors may also affect the business in positive manner. It helps
Zara in product promotional activity (Nam, So and Lee, 2015).
Legal: In order to launch product in the new market Company should need to aware from
all the legal factors that might affect the company policies.
Environmental: Environmental factor might affect the company if company neglect the
all policies and goals. in order to enhance the effective working performance goals.
2) Explaining the detailed evidence based on marketing plan for an organization.
In order to collect the evidence based on marketing plan for an organization, it will help to
recontinue the market research in order to meet out the new working areas. Apart from that,
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marketing plan has to be according to the needs and wants of the organisation as per the
effecrtive management task growth. Zara should need to collect market results and data to collect
the feedback of the new products.
3) Design a Strategic marketing plan that tactically applies the use of the 7Ps to achieve overall
marketing objectives
Price: Zara needs to adopt Low pricing strategies to promote the new product in the market in
order to gain the buyers interest (Tadajewski and Jones, 2016).
Product: Zara has launching new product or services which is organic beauty products
that helps company to attained more energetic pricing policies.
Promotion: Promotional activity adopted by the company is Women beauty contest
which is handled by the online.
Place: Place is the marketing mix that helps to define where product has launched and
sell to end consumers. Zara launching its new product through online or offline method.
Physical Evidence: Zara should need to adopt quality and customer appearance to attract
them towards the products.
People: In order to attained the process or goals employees working in the company
should be professional and well behaved.
Process: Process must be representing the company segments in which they deal such as Zara
mentioned their segments on the basis of women, men, children, accessories and now organic
beauty products (Tansya, Samue and Adiwijaya, 201).
STP
Segmenting: clothes for people with a combination of work and play
Positioning: Zara offers classy high-quality clothes based on consumer trends.
Targeting: People with medium to high purchasing or women who highly looking for
organic beauty products.
CONCLUSION
As per the above following task and report, it has been analysed and cleared out that
marketing is the most effecting concept to enhance the long-lasting results and building new
managerial goals. study explained about the marketing mix and its importance within the
organisation culture. On the other side, it helps to develop the new managerial opportunity and
growth in order to sustained the company into long term manner.
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REFERENCES
Books & Journals
Abril, C. and Rodriguez-Cánovas, B., 2016. Marketing mix effects on private labels brand
equity. European journal of management and business economics. 25(3). pp.168-175.
Alves, H., Fernandes, C. and Raposo, M., 2016. Social media marketing: a literature review and
implications. Psychology & Marketing. 33(12). pp.1029-1038.
Armstrong, G. and et.al., 2015. Marketing: an introduction.
Baker, M. J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge.
Charter, M., 2017. Greener marketing: A responsible approach to business. Routledge.
Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science, 45(3), pp.377-401.
Lewis, V., 2016. Embedding marketing in international campus development: lessons from UK
universities. Perspectives: Policy and Practice in Higher Education. 20(2-3). pp.59-66.
Mayrhofer, U. and Roederer, C., 2016. Zara: The international success of fast-moving fashion.
HAL.
Moorman, C. and Day, G. S., 2016. Organizing for marketing excellence. Journal of
Marketing. 80(6). pp.6-35.
Nam, H., Son, H. and Lee, Y., 2015. Effect of SPA Brand ConsumersEmotional Consumption
Value Orientation and Assessment of Marketing Mix Attributes on brand loyalty. Journal
of the Korean Society of Costume. 65(4). pp.45-60.
Tadajewski, M. and Jones, D.B., 2016. Hyper-power, the marketin
Tansya, S. K., Samuel, H. and Adiwijaya, M., 2019. Pengaruh Store Atmosphere terhadap Store
Image dan Purchase Intention Produk Fashion Merek Zara di Surabaya. Petra Business
and Management Review. 5(1).
Tunisini, A. and Sebastiani, R., 2015. Innovative and networked business functions: customer-
driven procurement. Journal of Business & Industrial Marketing. 30(3/4). pp.302-311.
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