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Marketing Department Assignment

   

Added on  2021-04-16

11 Pages3137 Words79 Views
Nguyen Thu Tra_10190649_ME_A1.1

Contents1.Introduction.................................................................................................................31.1.Definition of marketing..........................................................................................31.2.Applying for Lazada..............................................................................................32.Major findings..............................................................................................................42.1.The important roles and responsibilities of Marketing..........................................42.1.1.Meet customer’s needs and wants................................................................42.1.2.Widen market.................................................................................................42.1.3.Follow the trend and face competition...........................................................52.2.The important of marketing department influences and interrelates with other departments in the organization.....................................................................................62.2.1.Finance department.......................................................................................62.2.2.Customer service department.......................................................................72.2.3.Human resource department.........................................................................83.Conclusion..................................................................................................................84.Reference list..............................................................................................................9

1.IntroductionLazada is the e-commerce platform and launched in Vietnam in 2012. After eight years, thedevelopment of Lazada increase dramatically and having a position in the Vietnam e-commerceindustry. In this report, the author will provide more details about Lazada’s marketing in threemain parts: the definition, the roles, and responsibility of marketing, the way of Marketingdepartment influences and interrelates with other departments in the organization.1.1.Definition of marketing Philip Kotler (2017) said that Marketing is how companies engage customers, build strongcustomer relationships, and create customer value to capture from customers in return. There ismore than a step for the company to evaluate and plan to understand the marketplace andcustomer needs and wants. Exchange of value is trade the information, products, or servicesbetween customers and the company. When the products are sold, the exchange value is paidby customers after using the perceived-value. Customers have the perceived value, whichevaluated the difference between all the benefits and all the costs of competitors' offerings.Furthermore, customer value and satisfaction, satisfied customers are more likely to be loyalcustomers and give the company a larger share of their business, called build strong customerrelationships. To make customer satisfaction, which depends on the products' performance, isrelated to its expectations. And the last, capture value from customers is a significant action tocreate superior customer value. The firm makes satisfied customers who stay loyal and buymore. 1.2.Applying for LazadaApplying for Lazada, Lazada is an e-commerce platform, so to win customers' trust whenshopping online is the goal that Lazada focuses on. All of the services were suitable for thecustomer's wants and demands. Hence, the first step to join the Vietnam e-commerce industry,Lazada, has to understand the marketplace and customer's desires and needs. After that,Lazada creates value for the customer by connecting between partnership and customers(model B2C). Both Lazada and customers exchange value, including information on products orcustomer services. So the relationship between customers and the company becomes close-knit. The customer's evaluation between the costs and benefits of Lazada and competitorsofferings, they have a comparison to decide on the next purchase. Then, Lazada buildsengagement and strong relationships with chosen customers who regularly shop in the followingassets. As a result, Lazada has many incentives programs every month to capture value from

loyal customers and make them satisfied with their services. That helps the company increasedsignificantly long-term customer equity and a more significant share of customers.2.Major findings2.1.The important roles and responsibilities of Marketing2.1.1.Meet customer’s needs and wantsListening to customer's needs and wants is the primary responsibility of marketing.Understanding customer is a fundamental task of marketers. They research customers' needsand develop the quality of products and services to satisfy customers (Bayus L. B., 2008).That is the initial step to create value then build strong relationships to capture value fromcustomers. The strategy of Lazada is "customers are kings," they bring high-quality service andexperience for customers. Back in 2012, the e-commerce platform in Vietnam was the newindustry. At that time, the number of people using the internet and smartphone increasedsignificantly. Lazada knows Vietnamese do not trust online shopping; they want to buyauthentic products at affordable. So that is the priority factor for Lazada becoming model B2C(business to customer), the authentic diversity products are selected strictly before selling onthe platform. The highest percentage of Lazada's sales is Technology devices such as mobile& electronics, respectively, 20% (Hayden capital,2018). Lazada provides a variety ofaffordable products because it has a close-knit relationship with suppliers. As a result, manyincentive programs capture value from loyal buyers and attract new buyers. All of theelements, including prices, various products, and online services, stimulate the customer'sbehaviors to buy.2.1.2.Widen marketWiden target market is essential for marketers to have the right marketing plan to accesscustomers. Begin to widen the target market. Marketers have to define the market by researchto identify customers, including age range, gender, or income (Keirn A., 2018). Thedemographics are useful to reach potential customers. After the first step, marketers have afoundation to determine market segmentation and implement wide the market. As can be saidthat widening the target market is a common strategy for the growth of business and increaserevenue The core values of Lazada are the customer. Initially, Lazada focused on high-segmentcustomers, so the product's cost is more expensive than other e-commerce platforms. Hence,

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