Marketing Essentials and Strategies

This assignment covers various aspects of marketing, including the 7Ps of marketing, social media as a destination marketing tool, and attributing conversions in a multichannel online marketing environment. It also touches on entrepreneurial marketing, customer value co-creation behavior, and essential services marketing. The provided resources include digital marketing essentials, a guide to creating a marketing plan, and tips for strategy implementation and realization.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO1..................................................................................................................................................1
P1. Roles and responsibilities of marketing function.............................................................1
P2. Roles and responsibilities of marketing relating to the wider organisational context ....3
M1. Roles and responsibilities of marketing with reference to marketing environment.......6
D1 Key elements of marketing function and their interrelationship with other functional units.
..............................................................................................................................................10
M2. Significance of interrelationship between marketing and other functional units.........10
LO2................................................................................................................................................11
P3 Marketing mix can be applied to marketing planning process. ......................................11
M3. Different tactics applied by company to achieve business objectives..........................15
LO3................................................................................................................................................16
P4. Produce and evaluate basic marketing plan for company..............................................16
CONCLUSION..............................................................................................................................25
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing is one of the major business activities which is related with selling of goods to
final customers. An organisation’s main aim is to develop and produce that product which is in
high demand from the side of customers. Marketing essentials can be defined as all the major
functions which have been performed with the help of marketing tools. Important factors that are
included in marketing essentials are market strategies, research and positioning, competitive
analysis, budgeting and so on. This is the reason, it is important for each and every company to
use the best marketing strategies with which they can achieve their targets (Archpru, Akaka and
Chandler, 2011). This report is mainly based upon the implementation of major marketing
strategies of Wilkinson in order to increase their market shares. It can only be achieved once the
company will use all elements of marketing essentials. Thus, Wilkinson needs to be aware of the
tactics of marketing in order to gain maximum number of market shares. It also underlines the
roles and responsibility of marketing and its interrelationship with other functional units.
LO1
P1. Roles and responsibilities of marketing function
Marketing is one of the core functions of any organisation. In context of Wilkinson which
mainly deals in household goods and home-wares, firm needs to adopt essential marketing
strategies with the help of which they can capture maximum market share. Marketing is one of
the crucial functions of company in order to deliver the best products and services to customers
by using a number of methods, techniques or concepts (Jones, and Rowley, 2011). Its major roles
and responsibilities can be defined as follows:
 Market Research- It can be very well estimated that before the establishment of any
organisation, there are so many important tasks that have to be performed. In other
words, a set of things needs to be done prior commencing the business. Market research
is one of the top most responsibilities of marketing functions (Berthon and et. al., 2012).
This is related with a broader aspect of marketing. It is requited by the Wilkinson to
conduct a market research in such a manner that they can find out the potential
customers. This will also lead to develop and create a set of ideas upon which the major
trend of market can be estimated. It is also very important to know the level of
competition and their major strengths and this can all tapped by conducting market
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research. This will further help the company to take decision and formulate strategies for
their business plans. There can be various purpose of conducing market research.
On the basis of organisation's goals, objective, mission, vision and target, a market
research needs to be done (Menegaki, 2012). This will lead to evaluate a number of perspective
for which the entire market research has been conducted. It is considered as the core
responsibility that is being performed by marketing department. As far as Wilkinson is
concerned, it is required to conduct a market research in order to estimate the ways by which
they can attain maximum market shares. This will be done by their marketing department
(Bibeau and et. al., 2012). All the major steps of this department has been taken by their
marketing manager. It plays a major role in determining ways by which company can shine in
market by producing the best quality products and services for customers. This will also lead to
create a strong brand image of the organisation as well as company will be able to achieve its
target goals in the most effective manner.
 Promotion- Second most important role that is being performed by the marketing
department is the way by which company promotes their products and services. It has
been very well said that a product would not be recognised by the consumer irrespective
of its benefit until and unless it is promoted by company with the help of some major
methods and techniques. Thus, promotion holds an important position in estimating the
success of the company (Digital marketing essentials, 2017). There are various tools of
promotion such as advertising through social media, television, newspaper, magazines
etc. With the help of various promotional techniques, customers will be able to know
about the basic features and benefit of the products served by Wilkinson. This solves the
purpose of organisation for which they are in the market. Getting maximum number of
market shares and profit will lead to make the company more strong in the industry. This
will help to provide them the stability with which they can expand their market capture.
 Distribution- This is again a very important role that is being performed by head of
marketing. It is related with the medium through which products gets delivered to the
customers. There can be several modes of distribution depending upon company's aim
and objective. Channel of distribution helps the company to ensure that products are
reaching to the right customers without wastage of time (Blythe, 2012). There are a series
of steps involved in determining and setting up right distribution channel for Wilkinson.
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The very first step is to evaluate the basis of which customer will buy the products and
services. This is certainly done under the guidelines of marketing manager. Second phase
is to match needs and wants of the final customers to the selected distribution strategy.
Next step is to select the best type of channel as per company's goals and objectives. In
the fourth step, company needs to find out distribution partner and in the last step cited
organisation needs to manage selected channel.
 Marketing Information management: Gathered information after the market research
needs to be managed properly. Other market information includes data regarding
competitors, market environment etc. It can be utilised for formulating future business
plans. It is role of marketing team to gather and evaluate this information so that it could
assist decision making process.
 Product and service management: There must be effective management of company's
product and services so that value can be added to it. It relates to designing, developing,
maintaining and improving quality of services and products. It includes all essential
measures so that offered product catalogue can be changed.
 Pricing: In order to attract large number of people towards company’s product and
services proper pricing needs to be done. It is their important role to do attractive pricing.
It is done after evaluation of competitor’s strategy.
Thus, on the basis of above major roles associated with marketing functions, it can be
very well estimated that marketing plays an important role in determining the success of the
company in market. This will lead to develop ways by which company's products and services
reaches to the customer in the most effective manner (Cherian and Jacob, 2012). There are many
functions of marketing other than distribution, market research and promotion which equally
plays crucial role in fostering the effectiveness if the organisation in the market.
P2. Roles and responsibilities of marketing relating to the wider organisational context
As discussed above, functions of marketing plays a major role in order to maintain
company's best performance in the market. Apart from the major areas that is being covered
under marketing, it has been noticed that it also affects other functional unit of mentioned
company that is Wilkinson. Task such as advertising, pricing, selling and many more directly
affect other major functions of the company as well (Yi and Gong, 2013). Given below are some
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of the ways by which marketing functions can be evaluated on the major ground of other
functions of organisation.
 Direct link between market research and finance department- As stated above,
market research has been conducted by Wilkinson in order to measure some or the other
information. First it will help the company to find out the latest trend in the market. They
will also evaluate their rivalry's budget and performance. Basic requirement of the market
and customers are evaluated with help of market research. On the other side finance
department is responsible for ensuring adequate amount of funds so that all the resources
can be arranged. Thus, it can be very well estimated that the functions such as market
research that is being performed by marketing department directly affects finance as well
as other department of the company (Gordon, 2012). Finance department on the basis of
record being collected by market research will make such budget which can be easily
implemented. Market research will not only help the finance department but it also leaves
some major impact on the rest of the functions performed within the organisation.
 Promotion will help the sales department- As stated above, promotion is the most
important tool of an organisation which can ensure popularity of products and services
among potential customers. Company used several forms of promotion in order to get
best public response. This helps the consumer to get fully aware about the benefits and
advantages of using some particular product. On the other side, sales department is
responsible for taking all the major decision which can enhanced the sales margin for the
company. Various techniques that is being used under sales will be affected by
promotion. There can be some alteration or replacement of methods and tools used in
sales department on the basis of promotion. Thus, it can be easily evaluated that
promotion being one of the core functions of marketing will help the other department of
the company like sales to work in the most effective manner (Hays, Page and Buhalis,
2013). That is why, it is required by the Wilkinson to understand the importance of
marketing team. With the help of various promotional techniques, Wilkinson would be
able to direct their sales department in such a way that they can take best possible
decision. This will improve the sales of company. In this way, organisation will be able to
get best possible position in the market and its efficiency will also increase.
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 Distribution will affect the production department- It is evaluated above that
distribution is an important task that comes under the head of marketing department. It is
related with choosing best medium with the help of which products and services can be
reached to the final customers. There can be different modes of distribution that will
entirely depends upon the goal and objective of the organisation. On the other side,
production department is responsible for producing desired products for company. The
level of production depends upon the results that has been drawn from distribution
(Wirtz, 2012). Customer requirement can only be estimated once company has done
distribution of its products. Wilkinson have taken several steps in order to track its
distribution of products because it will further help the production department to estimate
amount of production for the next session. On the basis of outcomes that is recorded after
distribution of product and services, company can note down the needs and wants of the
customer at a time. Then according to this, production department will make product and
services without any delays. This will keep a pace in all the work that is being performed
in the organisation.
 Human resource department: Role of the HR department is to recruit and select staffs
as per the requirements of every department. Training needs to be provided to every staff
so that their effectiveness increases. Marketing department ensures most suited employee
are in business as per the company's demand.
 Information and communication department: Use of IT services has increased in the
business procedures. It is important for the marketing team to make use of technology so
as to reach to larger set of people. It ensures proper flow of information at various levels
(Mintz and Currim, 2013). Use of web based emails can help in communicating with
potential customers.
Thus, on the basis of above, it can be estimated that marketing is the core function of any
organisation. There are various roles and responsibilities associated with marketing department.
For example- selling, advertising, promotion, market research, distribution and many more
(Huang and Sarigöllü, 2014). These function plays a major role in affecting other important area
of organisation. As market research will help finance department to take various decisions on the
basis of the outcomes derived from market research. Promotion with the help of various
technique and tools will affect sales department. Their decision will be based upon the broader
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impact of promotion on the company. Distribution is again a very important task of an
organisation (Möller, 2013). It is related with delivering product and services to the target
customers. Distribution will help the production department to produce the exact amount of
product that is required at a particular moment of time.
M1. Roles and responsibilities of marketing with reference to marketing environment
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D1 Key elements of marketing function and their interrelationship with other functional units.
For the growth of an organisation there must be proper interrelationship with other
functional units. Key elements of marketing involves using proper marketing mix. Product
development in marketing is essential for its effectiveness. It also shapes the decisions of other
departments. Effective promotion leads to good sales. Research and development department is
highly effected by the product pricing done by the company. Budgeting of different functional
unit is done by financial department which takes assistance from marketing department.
M2. Significance of interrelationship between marketing and other functional units
Interrelationship of marketing with other functional units is highly significant. Its value
can be understood through these points:
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 Finance: Functioning of other functional unit depends on the marketing plan that has
been made so as to provide them adequate financial resources (Papasolomou and
Melanthiou, Y., 2012). Marketing helps other departments in their decisions about
financial investment.
 Production: This department is assisted by marketing department in order to produce
products as per the market demand. This helps in managing constraints related to
production.
 Research and development: This department is assisted by marketing in order to give
those requirements according to which new products are developed and appropriate
changes are made in the existing ones. These changes are made as per the market
demand.
 Sales: Marketing helps in smooth working of the sales department as effective marketing
leads to increased sales. It also helps in cultivating relationship with its customers.
LO2
P3 Marketing mix can be applied to marketing planning process.
There are some set of factors which are responsible for running the entire operations
within an organisation (Use These 5 Steps to Create a Marketing Plan. 2017). Marketing mix
seems like the most important tools for determining several marketing strategies with the help of
which company would be able to achieve its target in most effective manner (Li and Kannan,
2014). A detailed comparison of marketing mix of Wilkinson, ASDA has been given below:
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Source 1: 7p's of Marketing
Basis Wilkinson ASDA
Product It can be defined as putting all
the features that is required by
the customer in a product.
Wilkinson is a British company
which mainly indulged in
making household goods and
home wares.
It is one of the most popular brand in
the name of supermarket. They are
providing a number of product which
is as per the demand of the
customers. They are mainly into
home based products.
Price It is one of the major factors
which is responsible for getting
good response of the product in
front of the customers. It is
It is a world known company and
thus, they need to set a pattern of
pricing as per their customers. They
do not have very low prices. They
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important for the company to set
a price which can be affordable
by the consumers and also the
company do not face any kind of
loss.
also believes that pricing needs to be
done according to the perception.
This company uses various pricing
strategies like discount and sales in
festive seasons has helped company
in increasing its profit margin over
the years.
Place It can be defined as the way of
choosing most suitable location
so that customer can easily visit
to their outlets. Wilkinson has
chosen the most effective place
for marketing and hence its first
store got opened in Leicester.
They are now increased their
area of expansion and serving a
number of customers.
It has its presence at several places. It
follows a Fresh and Simple approach
to manage its store format. ASDA
has moved towards using Walmart
style. To ensure greater profitability
in the long run niche store technique
has been followed. It plans to open
new super centres having sales area
of approx. 90000 sq. feet.
Promotion There are various tools of
promotion that company needs
to use in order to maintain the
demand of the product in
market. Wilkinson have used
several promotional techniques
such as television, social media
and newspaper in order to make
people aware about their
products. This will let consumer
know about various features and
benefit of the organisation.
It pricing scheme acted as one of the
best promotional tool. Due to its
ownership under Walmart it
understands that its promotional
strategy could be valuable only if it
has quality in its products. It has used
an acronym that realises buyers
perception i.e. CBY that stands for
chosen by you. The basic idea has
been used to market its product in the
name that they make product as per
the requirement of the company after
rigorous testing procedures. It has
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features 4 out of 6 logos of Walmart
spark and its new logo was launched
in 2015. Logo is very eye catching
and helps in making its brand name.
Process It can be very well estimated
that the process is so far the
most important task that has to
be performed by given
organisation in order to achieve
its target. According to
company's aims and objective,
process must be efficient in use.
In the start it was selling only food
items, later it has moved in the
business of retail of household goods
such as kitchenware. It is now selling
meats and poultry products. Its
financial wing is in the business of
travel, insurance etc.
People Human resource is the most
important tool of any
organisation. Wilkinson have to
take several steps which helps to
maintain their labour
requirement. This is because all
the functions that has been
performed in the company must
be done in the supervision of
human resource. Wilkinson has
estimated their labour force
requirement and in this way they
are performing best in the
market.
This company is an employer of
approx. 180000 employee and
through them they are serving
millions of customers. So it focuses
on these stakeholders. They have
high quality staffs that are being
trained from time to time so as to
impart skills to them. They serve
people in a friendly manner. It
spends a lot on training people those
who are involved in delivery services
as it is key to its business.
Physical evidence It is again a very important part
that must be taken into
consideration by Wilkinson. It is
important to make product looks
Its strengths revolves around its size,
presence in the market and location
where it is operating. Its store is
divided into different categories. Its
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good in front of customers. It
includes their appearance.
Wilkinson have ensured that
their product looks attractive in
front of consumers.
general store for merchandises
named as ASDA living. They
produces whatever they promise to
their clients in the form of home
wares, health and beauty products,
toys, clothing and electronic items.
M3. Different tactics applied by company to achieve business objectives
Tactics can be understood as steps that company takes in order to achieve its long and
short term goals. These are done citing the impact of its strengths and weaknesses. Different
tactics followed are as follows:
 Thorough research of market: Wilkinson needs to make proper market research in
order to be successful.
 Target setting: In order to achieve company’s objectives it is important to make target
from different sections of the society (Malhotra, Birks and Wills, 2013). Setting these
targets helps company in developing products accordingly so as to achieve maximum
satisfaction.
 Promotions: There are various strategies of promotions that needs to be applied so as to
reduce product failure risk.
 Pricing: One of the most beneficial tactic that is applied by the company in order to
attract customer. This helps to achieve company’s objective of controlling over larger
area of the market and thereby, increasing its profit (strategy implementation and
realisation. 2017).
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LO3
P4. Produce and evaluate basic marketing plan for company
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CONCLUSION
It can be concluded from the above report that marketing is necessary for company and
must be done in a proper manner. There are various elements of marketing that are needed to be
used in developing a marketing plan. 7 P's can be highly effective in making marketing plans.
These essentials if applied properly lead to increase the profit of Wilkinson. Marketing has its
huge impact on the functioning of other functional units also. Wilkinson is involved in the
business of making different kinds of products and hence, various marketing mix need to be
applied properly so that its marketing strategy and tactics will get successful. There must be
effective plan that has to be made by company so as to increase its profit.
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REFERENCES
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Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix. Australasian Marketing
Journal (AMJ), 20(2). pp.122-126.
Hays, S., Page, S. J. and Buhalis, D., 2013. Social media as a destination marketing tool: its use
by national tourism organisations. Current issues in Tourism. 16(3). pp.211-239.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
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Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual
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Li, H . A. and Kannan, P. K., 2014, February. Attributing conversions in a multichannel online
marketing environment: An empirical model and a field experiment. American Marketing
Association.
Malhotra, N. K., Birks, D. F. and Wills, P., 2013. Essentials of marketing research. Pearson.
Menegaki, A. N., 2012. A social marketing mix for renewable energy in Europe based on
consumer stated preference surveys. Renewable Energy. 39(1). pp.30-39.
Mintz, O. and Currim, I. S., 2013. What drives managerial use of marketing and financial metrics
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Marketing. 77(2). pp.17-40.
Möller, K., 2013. Theory map of business marketing: Relationships and networks perspectives.
Industrial Marketing Management. 42(3). pp.324-335.
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Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
friend. Journal of Promotion Management. 18(3).pp.319-328.
Wirtz, J., 2012. Essentials of services marketing. FT Press.Lamb, C.W., Hair, J.F. and McDaniel,
C., 2011. Essentials of marketing. Cengage Learning.
Yi, Y. and Gong, T., 2013. Customer value co-creation behavior: Scale development and
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Online
Digital marketing essentials. 2017. Available through: < https://www.theidm.com/marketing-
courses/essentials/digital-marketing-essentials-course#>. [Accessed on 7th September
2017].
Use These 5 Steps to Create a Marketing Plan. 2017. Available through:
<https://www.entrepreneur.com/article/241953>. [Accessed on 7th September 2017].
strategy implementation and realisation. 2017. Available through:
<http://www.businessballs.com/businessstrategyimplementation.htm>. [Accessed on 7th
September 2017].
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