This report analyzes the role of marketing in the Marks and Spencer Company, including the key elements of marketing function and its interrelationship with other functional departments. It also compares the elements of marketing mix between Marks and Spencer Company and Tesco Company.
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Part 1:The Role of MarketingPart 2: Marketing Plan
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Table of Contents INTRODUCTION.....................................................................................................................................3 Task 1.....................................................................................................................................................3 Key element of marketing function...................................................................................................3 Marketing relation to wider organizational context..........................................................................6 Task 2.....................................................................................................................................................7 Comparative analysis of elements of marketing mix.........................................................................7 Task 3...................................................................................................................................................10 Strategic marketing plan..................................................................................................................10 CONCLUSION.......................................................................................................................................11 REFERENCES.........................................................................................................................................12
INTRODUCTION Marketing is defined as promoting company’s products in front of the potential customer base through effective communication channels. This report is based on the case study of role of marketing in respect to the Marks and Spencer Company. The organisation was initiated its business operations in the year 1884 by the founders Michael Marks and Thomas Spencer. Company is associated with the retail sector henceforth, engaged selling high quality clothing, home products and other retail products. Headquarter of the company is located in London, United Kingdom. This report would analysis about the different roles marketing function play in the organisation. Henceforth, this report would address all the key roles and responsibilities associated with the marketing operations. Interrelationship with the marketing and other functional department would also analysis in this project. Elements related to marketing mix would also assess in comparative manner with any of the key competitors of the Marks and Spencer Company. Furthermore, this project would precisely project the marketing plan in respect to the company. Task 1 Key element of marketing function Interrelationship of marketing department and other functional department Inorganisationalltherolesandresponsibilitiesaresegregatedintodifferent functional area. All different departments needs to work together in order to achieve the best level of operationefficiencies.The interrelationshipbetween the marketingand other functional departments can be established in the following manners. Marketing and human resource department Marketing and human resource department are inter linked with each other in order to perform the overall objectives of the individual functional department in company. Marketing department support the human resource department by channelizing promotional campaign of company in respect to the recruitment drive of the organisation. Department promote the recruitment drive of the human resource department at all the key promotional channels and mediums so that human resource department can achieve all its targets. They get to attract the bets skilled talent at the recruitment campaigns (Bae, 2020). This allows the department to recruittheskilfulhumanresourcesthatcancontributeintheoverallgrowthofthe
organisation.Humanresourcedepartmentalsosupportthemarketingdepartmentby recruiting the best skilled employees at various designated position roles in organisation. Human resource department also support the marketing department by channelizing the training and employee development campaign. Department conduct trainings in which skill improvement programs are organised so that overall efficiencies of the employees associated with the marketing department at the Marks and Spencer Company can be improved. All efforts put by the human resources department have supported the marketing department to meet all its different objectives behind the functional activities they conduct. It can be projected that in order to achieve the overall objectives behind the individual functional departmentboththesedepartmentsplaythesignificantroleinsupportingeachother department to achieve all their different functional objectives. Marketing and sales department Marketing and sales department both these departments are interlinked with each other in order to achieve the individual functional objectives of the departments. Marketing department support the sales department in promoting all tge products offer by the sales team at Marks and Spencer Company. Marketing team present the products offer by sales team of company in such a way that organisation get to attract the customers to buy the products offer by company irrespective to aggressive level of competition in market. Marketing team also circulate the campaigns prepare by the sales team such as discount sale and many other at the time of festivals to boost the sales of the company (Behnoosh, Naylor and Dickson, 2018). The entire campaigning marketing team conduct for the sales department play significant role for the department to achieve its overall objectives in the financial year. Campaigning done by the marketing team allow the sales team to take competitive advantage in the market irrespective to aggressive level of competition in market. Sales team also support the marketing team by conveying all key features associated with the different products offer by company. On the basis of the information provided by the sales team marketing department frame a proper marketing campaigns that can suit the sale of the respective product in market. Marketing and sales department both these department are interconnected at a very close level in order to achieve the individual operational objectives. Both these department play an important role for the other department to achieve the overall objectives in respect to the individual department in organisation. Marketing and Finance department
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Marketing department and finance department both these departments carry a strong interpersonalrelationshipwitheachother.Financedepartmentsupportthemarketing department by allocating suitable budget for all different functional activities of department. On the basis of the budget allocated to the marketing department team operate all different campaigns associated with the marketing of company. In case the department need more budget than also in certain circumstances finance team allocate more budget to the marketing team so that they can meet all their operational objectives. Marketing team also support the finance department to achieve its individuals operational objective (Domegan and et.al., 2019). Marketing team provides various researches over retail sector, competitors and different other research to the finance team so that they can execute the functional activities suchasinvestmentofcompanyandmanysuchdifferentfunctionalactivities.The information provided by the marketing team play an important role for the finance team in making strategies related to business expansion, strategic alliance and many such decisions that immensely influence the overall growth of the company. It can be stated that both these departments marketing and finance are interlinked with each other in order to achieve the individual objectives behind the operations of such departments. In case of organisation like Marks and Spencer Company where all functional activities of company are segregated into multiple functional departments it becomes essential for all the department to support other functional department so that overall objectives of the business of the company can meet. Marketing and Operation department Marketing and operation department play a key role in achieving the individual objectives of department. Marketing department provide market research over latest trend and fashion to the operation department. On the basis of the information provided by the marketing team operation department conduct planning in respect to launching new products and fashion. The research provided by the marketing team guide the operation team towards improving the overall work efficiencies of the team (Faruque, Khatun and Rahman, 2016). Operation team also provide the detail information about the products offer by company and certain other information that can support the marketing team to form a suitable marketing campaign to enhance the overall sale of the product in target market. Both these department work together to achieve the each other operational objectives. The above mentioned points indicate how different functional department of the Marks and Spencer Company work along with the marketing department to meet the
individual operational objectives. In case of Marks and Spencer where entire organisation structure is segregated into various functional departments it becomes essential for the company to work together with other functional department so that overall objectives of the organisation can be achieved by the company. Collaborative approach is the best way to meet the objectives behind the operations of organisation. Marketing relation to wider organizational context Makring is the process through organization advertise its product and sevices to a wide range of customers. Thus marketing department comes in direct contact with customers, therefore they are will aware of their requirements, due to which marketing plas a significant roles in wide organizational context. Following are the roles of marketing with organizational functionals. Marketing with R&D- Marks & Spencer is a retail store which provide wide range of products to its customers but with that organization is also showing high interest in provuiding products as per customer requirements due to which it also provide which are developed by organization itself. Marketing department at Marks & Spencer plays a very important role with R&D department because marketing department is in direct contact with customers due to which it is well aware of their requirements. Thus marketing depatment provide instructions to R&D department because it is responsible for developing products and thus when they are able to develop products as per customer requirement (Porcu and et.al, 2019). Then due to this cordination between marketing department and R&D Marks & Spencer will be able to provide new products to its customers due to which it would be able to matain their engagement with the organization and with that they will also be able to attract new customer towards the organization. Marketing with finance- Marks and Spencer is a multinational british retailer which provide wide range of products to its customers, due to which it is very important for organization that it is able to attract new customers and at the same time maintain existing customer count. Thus in order to increase the brand awareness of the organization Marks and Spancer uses creativing markeing strategies and to acomplish that marketing department has to make contacts with the finance department. Finance department at organizations like Marks & Spencer is responsible for alloting budget and the department have to develop their organizational
strategy on that basis. Thus marketing department has to develop contacts with the finance department such that it is able to get a sufficient budget for developing effecient advertising strategies (De Luca and et.al, 2020). But on the other hand finance department is responsible for maintaining a strong economical condition for the organization. Due to this effecient communication Marks & Spener is able to get high brand awareness and maintain strong economic background. Marketing with Production- Marks & Spencer is a multinational organization which provide wide range of products to its customers all across the globe due to which the marketing department at Marks & Spencer is responsible for maintaining close contacts with production department. This is important because the marketing departement is responsible for developing marketing strategy and thus it wants products to be made available within a short period of time. But the other side of the coin is that production department is responsible for developing products in a large quantity and testing the developed product (Aarons and et.al, 2016.). By this activity production department make sure that developed product is high in quality, thus marketing department and production department works in proper cordination. Roles and responsibility of marketing- Following are the roles and responsibilities of the marketing functions at M&S. Increasing brand awareness Marketing functions has to make creative advertisement measures in such a way that company is having high level of brand awareness and for which it has to implement creative and clear promotion measures. Developing customer relationship The marketing function comes in the direct contact with the customers and because of which it can take efficient feedbacks from the customers in such a way that it is able to resolve the issues which customers are facing during their engagement with the organization and reduce the chances of brand switching. Analysing changing market trends Marketing department has to monitor the changing market trends and them evaluate the different with company’s existing working capability. Thus on this basis it tend to develop improvisations through which it can ensure high level of work productivity.
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Task 2 Comparative analysis of elements of marketing mix Marketingmix factors Marks and Spencer CompanyTesco Company
ProductMarksandSpencerCompany offerdifferentretailsector productssuchasfood,home products and clothing line. Productrangeofcompanyis well diversified as it cater to all typeofpotentialcustomers irrespectivetoanyagegroup, genderoranyotherformof diversification (Karl and et.al., 2018). The diversified product line of the company allowthe Marks and Spencer Company to meet the need and requirements of all differentpotentiallevelof customersassociatedwiththe retail sector. Productportfolioofcompany comprises with all top brands in alldifferentproductsegment such as clothing, food brand and home product brands. Productportfolioofthe companyisoneofthekey reasons why Marks and Spencer Company could achieve such a massive growth in the business all across the globe. AscomparetotheTesco Company it offers more brands and products that look suitable foralltypesofpotential customerswhichsupport Tesco Company is among the leading brand in the retail sector all across the globe. Company offer different retail sectorproductssuchasfood products, clothing line and other retail sector products. In comparison with the Marks and Spencer Company product portfolio of the Tesco Company not look that much wide and diversifiedwhichrestrictsthe company in taking competitive advantagesagainsttheMarks and Spencer Company (Lee and et.al., 2020). Apartfromhavingthe limitationsintheproduct portfolioitcouldsomehow cater the need of all types of gender,agegroupandother types of customers base at all its business locations. Due to the smaller brand image as compare to the Marks and SpencerCompanyand restrictedproductportfolioof company it could not perform much competitive in the market as compare to other brands like Marks and Spencer Company.
company in enhancing the brand loyalty of all its customers all across the globe. PricePricing is among the key aspect oftheMarksandSpencer Company. Company follow the practice to serve the best quality products at themostaffordableprice possible. Pricing policy of the company is more affordable as compare to the Tesco Company which could allowtheorganisationto enhance its overall growth in the marketascomparisontothe Tesco Company (McDarby and et.al., 2018). Companyalsofollowthe seasonaldiscountstrategyon every single occasion and also the sale where it offers products at heavy discount. This tactic of company has also supported the companyinenhancingand boosting the individual growth rate of company as compare to otherbrandslikeTesco Company. TescoCompanyisalsogood known for its pricing policies and strategies. Company is also engaged with thetaglinecallasdiscount brand. Company follow the practice of providingthebestquality productsatthebestprice possible in respect to the target customers of the organisation. Allthesepoliciesand operationalstrategiesofthe company is effective at some level but in comparison with the Marks and Spencer Company it could not provide the healthy discountstoitscustomers which somehow supported the Marks and Spencer Company to boostitssalesbyattracting more customers as compare to the Tesco Company. PlaceMarks and Spencer Company is among the big brand associated withtheretailsectorandthe onlyreasonbehindthisbrand Tesco Company also operates at many locations. Company is currently operation atmorethan5000business
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imageofcompanyisthatit operate at the global level. Company operate at more than 14000locationsallacrossthe globe which makes the company asaglobalbrandinretail market. In comparisonwith theTesco CompanyMarksandSpencer operate at approximately double the overall business locations of the Tesco Company. Theglobalpresenceof company’s business makes the brand as a leading brand in the retail market at a global level. Thetotalnumberofbusiness locationscouldsupportthe company in enhancing its brand valueandtakecompetitive advantages in the same market where Tesco Company is also operating its business operations with lesser value of its brand. locations at a global level. As comparison with the Marks andSpencerCompanyit operates at a very few business locations which could somehow damage the market present and its ability to take competitive advantages in the same market. Thelessnumberofbusiness locations always play a negative part and role for the company in enhancing the sales potential of the organisation in the market (Rogers and et.al., 2017). PromotionMarketingteamoftheMarks and Spencer try to utilises all keymarketingandpromotion channels for promoting different products offer by the company. MarksandSpencerCompany promoteallitsproductsat differentpromotionalchannels such as social media marketing, TescoCompanyfollowsthe various strategies for promoting all its products. Companyfollowalltypesof promotionmediumssuchas socialmedia,digital promotions,radio,television and different other promotional mediums.
digital marketing, search engine optimisation,radio,television and various other platforms so that high market presence can be entertained by the company. AscomparisontotheTesco Company it utilises more new age platforms and technologies such as animations to promote its products in the target market. Promotions of company are well diversifiedandsuitablein respect to the potential level of customersoftheMarksand SpencerCompanyataglobal level. Behind the effective brand value of the company promotions of companyplayedanimportant rolefortheorganisationin enhancingthebrandvalueof company in the retail sector. In comparison with the Marks andSpencerCompanyithas given more emphasis over the traditionalmediumsof promotionssuchasradio, television,holdingwhich somehowcouldinfluence negativelytheoverallbrand value of company in market. The marketing and promotion of budget of Tesco Company is also limited in comparison to theMarksandSpencer Companywhichalsocould support the Marks and Spencer Companytoenhancethe growth rate in more effective mannerascomparisontothe Tesco Company. Physical evidenceMarksandSpencerCompany meet all safety standards ensure by the government. Inthecurrentsituationof COVID 19 pandemic company management has given a huge emphasis over all types of safety measuresthatcanensurethe properassuranceoftheheath safety of the target customers in themarket(Spearsandet.al., Management at Tesco Company also meet up all types of health andsafetymeasuresatthe organisation. Comp[anyhasgivenphysical evidencesoveritsoperations and has taken care of all types of hygiene protection to ensure thebestlevelofworkplace atmosphere.
2016). Companypremisesarebigas comparisontotheTesco Company which could support theorganisationtoensureall safetyandhealthmeasuresin moreeffectivemanneras comparisontotheTesco Company. PeopleMarksandSpencerCompany containthewelldiversified productportfoliowhichhas allowedtheorganisationto achievethebestlevelof customer support in market. Due to the diversification in the product portfolio of company it could cater to more number of people as compare to the Tesco Company. Irrespective to any gender, age groupandpreferencesofthe customers company could deal withalltheneedsand requirements of the customers in the target market. Tesco Company has also given a huge emphasis over dealing with the needs and requirements ofalltypesofpotential customers in the market. Company always try to cope up with the latest trend and fashion inthemarketwhichhas supportedtheorganisationto deal with all types of potential customersavailableinthe market. In comparison with the Marks and Spencer Company it is a lowlevelbrandwhichcould hamperthecompanyin satisfying the customers less in comparison to the Marks and SpencerCompany(Strotmann and et.al., 2017). ProcessMarksandSpencerCompany followthepreciseprocessto promote all its products. Companyfollowtechniques Tesco Company also follow the precise approach buy due to the limitations in budget company didnotabletofollowthe
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such as segmentation, targeting andpositioningwhichcould supporttheorganisationin achieving the maximum level of competitiveadvantageinthe market in comparison with the companies like Tesco. precise process as compare to theMarksandSpencer Company. Task 3 P4. Strategic marketing plan Goal To improve the sales turnover of company by 30% at the end of this financial year. SMART Objectives Company’s objectives behind the marketing plan are specific as it tries to improve the sales turnover by 30% and also to improve the brand value in target market. The objectives of achieving the improved sales turnover and brand value can be measured easily by the company. The objectives to improve the sales turnover of company by 30% and improve the brand value of company are achievable in nature (Trail and McCullough, 2017). With the support of proper strategies and tactics company can easily achieve these objectives behind the strategic marketing plan. The objectives are realistic in nature. Company has achieved these objectives in previous years as well which look these objectives more realistic for the Marks and Spencer Company. Company is trying to achieve these objectives in the time spam of one year. Strategies Social media marketing:Company will follow the social media marketing strategy for this project. Social media marketing strategy would support the company in enhancing both sales
turnover and brand value of company in target market (Tobey and et.al., 2017). Digital marketing:Digital marketing strategy would also use by company. In this strategy company will approach channels such as Amazon Prime and different other digital channels. Search engine optimisation:Company will follow the search engine optimisation strategy to improve the brand value of company and also to boost the sales turnover of company in target market Tactics. Segmentation:Company will follow demographic segmentation strategy for this campaign. On the basis of the age and gender company will segment its products (Wilcox, Sussman and Chung, 2018). Targeting:Company will target all gender, age grop people in these strategies. Positioning:Company will position its products with the support of all different strategies such as internet, social media and different others. Monitoring and evaluation With the support of sales analysis and tools like Google Analytics company will monitor and evaluate the success of the marketing plan. Monitoring and evaluation will be done with the support of regular reviews over marketing outcomes of company. Forcasting IT is forcasted that with the support of all the strategied and tactics used in this plan will favor the company to meet all its aim and objectives over a timely basis. Budget Company has set a budget of £ 500000
CONCLUSION Marketing is about to promote company’s products in front of the potential customers in the market. Marketing mix comprises with elements like product, price, place, promotion, physical evidence and different other factors that support the company in improving the marketing objectives of company. Strategic marketing plan of company will focus on strategies like social media, digital promotion, search engine optimisation and certain other strategies to achieve all objectives and goal of the company’s strategic marketing plan.
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