This document discusses the principles of sale and marketing in the changing marketplace. It explores ethical marketing practices and sales practices, demonstrates marketing theory through the formulation of a marketing plan, and assesses the impact of marketing from an organization and customer perspective.
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Principles of sale and marketing
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Table of Contents INTRODUCTION...........................................................................................................................3 TASK..............................................................................................................................................3 Marketing and sales concepts in changing marketplace:.......................................................3 Investigate ethical marketing practises & sales practices.......................................................4 Demonstrate marketing theory by formulation of a marketing plan......................................6 Asses the impact of marketing from organisation and customer perspective........................9 Conclusion.....................................................................................................................................12 Reflection:......................................................................................................................................12 REFERENCES..............................................................................................................................14
INTRODUCTION Marketing is a activity that is concerned with promoting product and services so that it can be offered top target segment of customers, presently there is concussion of different marketing and sales concepts that are part of exchanging markets. Tesco is a organisation that has launched a new category of products in their vegan range of products. This range is depicted as plant shed that is plant based alternatives for traditional meals (Abdullah, 2017). There is investigation of sales and marketing practises. There is demonstration of marketing theory for formulation of marketing plan. Further there is assessment of impact of marketing from organisation and consumer perspectives. TASK Marketing and sales concepts in changing marketplace: There are different types of concepts that are part of organisation selling and marketing efforts, all these aspects have to be considered to understand its impact on customers, society and organisation. Some of these approaches are mentioned below: Production concept:It is a concept that is one of the older concepts of business that is customers are preferring products that are inexpensive and at same time easily available. Managers in organisations are having focus on achievement of high efficiency in production, mass distribution and low costs (Dellaert, 2019). Product concepts:It is a orientation that is holding a belief that customers are having preferences for products that are high in performance, quality and innovative features. In this concept marketing managers in a organisation hold preferences for making products that are superior in quality and is helping in timely improvement. Management si committed to making timely improvements and superior quality products. Selling concepts:It is a business orientation that is based on businesses and customers are using a aggressive promotion efforts. According to this concept customers are preferring organisations who are widely involved in promotion of brands. The main aim of organisation is to make and sell rather than make according to customer requirements.
Marketing concepts: It is a business philosophy that is challenging above mentioned three concepts. It is based on a belief that key to achieve a organisations objective is to enhance effectiveness of a brand in comparison with other competitors by creation, delivering & communication of high customer value to target customer(Deng,2020).This concept has been said in present situation of Tesco where the organisation is willing to launch their new product category that is vegan products in organic range and then use marketing strategies to promote for their target market. Above mentioned are different concepts that are part of marketing & selling functions of organisations. In TESCO there is focus on marketing concept that is based on changing tastes and preferences of customers as they have launched a new product range that is vegan product categories. Investigate ethical marketing practises & sales practices. In relation to Tesco, it is launching a new product within the market which is related to organic vegan. It is a prime product of organization which require effective marketing within the market as well as sales promotion of the product which help the organization in achieving the goals and objectives related to the marketing of product. The most effective way to improve the marketing strategy is related to following ethical practices while selling the product within the market. There are different kinds of steps which can be taken by the organization to improve ethical practices in relation to marketing of the products and services which it selling within market: Be transparent:one of the most prominent strategies which can be adopted by the organization while serving ethical practices in the market is being transparent about the product and services offered to the customers. Under this strategy, organization has to include the key information about the safety and effective use of the products and services. In relation to Tesco, it is going to launch its vegan which is made up of organic items. Under this, organizations to provide all the information related to pros and cons of using organic products (Terho, 2017). Protectcustomerdataandprivacy:Itisrelatedtomanagementstaffofthe organization where company has to protect the data of customer.Consumers, for the most part, know that businesses use their information to deliver more personalized products and services
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and are largely accepting of the practice as long as it makes their lives a little easier. However, this agreement quickly breaks down when trust is compromised. It has been a major concern for the organization working in industry to ensure safety of data with the company. In relation to Tesco, organization can use to pay more emphasis on company's commitment to the customer policies related to privacy and security of data. (Madhani, 2016). Commitment to sustainability and human rights: human rights are also important parts while performing the function of marketing within the organization. In relation to Tesco, it can follow ethical consumerism which becomes the major priority of the organization. It is helpful to the firm in assuring purchase products to the customer where organization being honest and its ingredients, product components and supply chain.Maximizing benefits and minimizing risk: this is also a major focus point which can be considered by the Tesco while introducing the Vegan within the market. This is because organization is going to launch organic vegan where organization can use article marketing strategy benefit has large number of people as possible and harm little (Woohyoung, 2020). It can be evaluated from the above mentioned information, there are various functions which have to be performed by the organization for making it ethical to use the marketing and sales practices and improve the functioning of the organization in achieving goals and objectives of the firm. The most effective way to improve the marketing strategy is related to following ethical practices while selling the product within the market. There are different kinds of steps which can be taken by the organization to improve ethical practices in relation to marketing of the products and services which it selling within market. It is a prime product of organization which require effective marketing within the market as well as sales promotion of the product which help the organization in achieving the goals and objectives related to the marketing of product. Demonstrate marketing theory by formulation of a marketing plan. Marketing plan is based on formulation of a strategy by defining of marketing objectives and goals. It assist in examination of market and then determine further marketing approaches. Present marketing plan is based on the way TESCO is using different Marketing strategies in order to position themselves in the target market (Duus, 2019).
Vision:To be one of highly valued business according to customers being served, communities they prepare and other stakeholders associated with TESCO. Mission:mission statement of TESCO is “We make what matters better together” Objectives:To achieve higher market share by launch of a new productrange that is vegan products across different physical locations in UK. STP analysis: Segmentation:It is a approach where market has to be segmented based on different categories that are geographical, behavioural, demographic or psycho-graphic segmentation. In present case of TESCO there will be a behavioural segmentation that will be adopted for the purpose of dividing of market according to similar characteristics that. Such as in UK 3 percent consumers are began where half of them changed in year 2018 and other one third are millennials who posses demand fie began food that is driven by a high customer base because of environment, health or a behavioural feature of eating less. Targetting:After segmentation of market one particular segment is targeted by organisations to achieve higher sales. Such as TESCO is targetting the millennial generation who have developed a certain inclination towards eating healthy and eating less(Koku, 2018). All this is going to lead towards preferences of this target segment of towards plant based meals. Positioning:according to above mentioned criteria TESCO is focussing on achievement of a differentiation position in the target market for achievement of higher sales.TESCO has a new idea that is based in a belief of creating a plant pusher approach that is collaboration will be based on chef crafted, affordable, innovative and delicious options of customers in vegan category of products who are willing to eat more plants. Marketing mix: Products:The product range of TESCO is determined by a name as “Wicked kitchen” that is collection of plant based meals. It will consist of dishes such as mushroom bolognese, pumpkin falafel sandwiches, BBQ butternut mac and teriyaki noodles. Price:The prices of all such products are based on affordable criteria. That is the price range is set according to affordability level of their target customers that is millennial generation
(Nozdrenko, 2018). So there is use of price penetration strategy for entering the new range of products. Place:This category of vegan products will be available in all 600 stores of TESCO located worldwide. Promotion:TESCO is using different methods of promoting their new range of products. For this they are using several digital media campaigns & existing promotional mediums to make their target segment of customers aware about such category of products. People:TESCO is targetting customers having preferences for healthy food. One in seven adults in UK is interested in reducing their consumption of poultry or meat and this is resulting in focussing on plant based meals. The meal is based on a plant based message to attract health oriented customers as benefits are limited to animal ethics & environment enabling customers to feel holistic, virtuous in choices. Process:There are several recipes and blend of spices that have been added to flavours of ram broth, Shiitake, puncy pumpkin laksa and vindaloo vibe kit. These are blended together with plants with further use of mushrooms for flavours pulled “Pork”. Physical evidence: The main taste of these products are focussed to be level of meeting non veg range of products. SWOT analysis: StrengthWeakness Thenew“wickedKitchen”isa collection of plant based meals. There is wide variety of dishes that are categorisedas“Chefownedand helping TESCO in achievement of high sales. As there has been sales of more than 10 million units till present date. Thereisnolongerdependenceon animalproductsasnewprocessis completelyplantbased(Schukin, 2016). The new wicked food has challenged the present process of food system as thereisentirelyanewplantbased practises.
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OpportunitiesThreats There is a opportunity to expand the present range of products according tio shiftinconsumerattitude(Rascão, 2017). Consumers can be attract by conveying of the message that there is following ofanimalethics&environment enabling customers so that they can feel holistic virtues for their choices and preferences. Therehasbeensimilarproduct launchesbyothercompetitorbrands like Sainsburys as they have launched targeting flexitarian diets. OnlineretailbrandOcadohas expandedtheirvegancategoryof products. Action plan:For the purpose of achievement of specified business objectives there is estimation of budget. This budget has been set so that various financial requirement all through plan can be timely fulfilled.Below mentioned is budget of TESCO for the marketing campaign of their products. Monitoring & controlling: Fir the purpose of effective implementation of marketing plan there is need tp focus on business objectives. There will be evaluation of objectives after a specified period of time tio Check the progress towards achievement of laid objectives. There will be a in depth analysis according to the set standard and present level of performance. Asses the impact of marketing from organisation and customer perspective
The impact of TESCOand their marketing has changed their way of dealing to customers and also has impacted on business at wider scale. As TESCO is focusing towards selling of products wagon products, it has widen scope of their millennials as consumers by 30 %. It is seen that many retailers of TESCO are failing to meet up with millennial expectation properly.They are focusing on selling of products as due to rise in expectation of their millennials. In relevance with chosen firm, they provide both wagon as well as non-wagon products depending upon their level of needs or demands. Thus, it is necessary to analyse these effects so that correct changes related to both customer or organisation are made properly. With its larger portfolio of products, they are improving their distribution process accordingly. Customer impact- The major impact of selling of wagon products is on customer as because they are many customers who have different taste as well as preferences. Moreover, due to the selling of wagon product, it is important for Tesco are changing their overall organisational structure and marketing of product in different context. Millennials provide more profit and revenues to the business, so it is essential for them to be aware about their changing needs as well as demands. These wagon products are needed to be carried out distributed in in such way that it does not affects other customers of TESCO (Wood, 2017). With changingperiod time, it has become essential for them to focus towards customer needs as well as demands. Organisational impact- In context of organisational, non-wagon products have been always anmost focused by Tesco.The marketing of wagon products has deep effect business as because wagon products have are less expensive as compared to non wagon products. This leads to impact upon sales & profit ratio of business. Furthermore, people have perception that eating of wagon products leads to healthy fitness.This means that marketing of these products created a big change in organisation (Domański, 2020. The impact of marketing on organisational has resulted in various change in their production as well as decision making process. BY preference of wagon products by millennials, company has to focus on more on their production level and manufacturing process of entity. The above discussed matter depicts that these effect of marketing on selling of products has changed the overall structure of business at deep level. In relevance with firm, they need to
overview these impacts of marketing so that further process are being carried out in most efficient manner (Ali, 2018).
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Conclusion From above made discussion it can be said that there are different aspectsof a organisation that have to be considered for working towards enhancing the satisfaction level of present customers. Marketing theories help in formation of plan that can assist in laid business objectives with timely assistance of marketing managers. Further there has to be monitoring & controlling measures to ensure that set objections have been timely achieved in course of business. Reflection: In this project there has been application of different project techniques to understand the concepts of sales & marketing in the external market. For this initially there has been a research that was conducted by me to develop a detail overview of the sales and marketing concepts in the changing environment. I faced some difficulty in practical application of theoretical concepts in the wide range of macro environment. It is based on concepts such as production concept, product concept and marketing concept. All these are affecting the way organisations are performing their marketing & selling activities. I realised that that there are many different factors that are affecting organisations internal functioning and further assists in the formation of a marketing plan. There is application of various marketing theories in order to investigate the ethical marketing practises in range of organisations. Organisations are continuously involved in adopting new practise and working towards new campaigns in order to form effective strategies for serving in this highly competitive environment. I understood the importance of different frameworks such as STP analysis that are very necessary in achievement of laid down objectives in a marketing campaign for organisations. It has assisted me in understand the present position of the organisation so that future strategies for targetting the market can be formed and implemented successfully. Marketing mix consist of seven basic elements that lead to understand the crucial aspects of a organisation that will help them in further understand how each such aspect is going to contribute towards achievement of laid objectives in a marketing campaign. I have to deal with some complexities of Competitive environment to select the most suitable strategy in thus present times as mostly competitors are easily able to imitate strategies as soon as they are launched in the market. In the initial reports there was no detail overview of all the concepts that help in formation of marketing and selling
campaigns and it was the reasons why some aspects of report were nor according to requirement. Then I realised these mistakes and started to focus on developing ways by researching of information from available secondary sources so that I can get a more clear over view of the ambiguity in these concepts. This weakness was overcome by more searching of activities and a comprehensive overview of future functions that are to be performed for successful marketing campaign. Another activity that was very difficult to handle all through the project includes the way monitoring & controlling function has to be performed in the marketing campaign. This functionhelpsinmakingacomparisonwiththesetstandardswithactuallyachieved performance level. So that any deviations can be clearly identified and further corrected. It will help in ensuring that they are not posing any impact on future functioning of organisation. I have understood the different types of concepts of marketing and way these are going to lead towards having a clear idea about the direction in which organisation functions are based on & is going to lead towards fulfilment of laid mission and vision.
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Wood, 2017. Capital discipline and financial market relations in retail globalization: insights from the case of Tesco plc.Journal of Economic Geography,17(1), pp.31-57. Woohyoung,2020.TransnationalCorporation’sFailureinChina:Focuson Tesco.Sustainability,12(17), p.7170. Online Tesco Announces New Wicked Kitchen Meals and Expands the Budget-Friendly Plant Chef Range, 2020 [online], Available through<https://vegconomist.com/products-and-launches/tesco- announces-new-wicked-kitchen-meals-and-expands-the-budget-friendly-plant-chef-range> INCREASE IN VEGAN FOOD CREDITED FOR TESCO’S REVENUE SPIKE, 2018 [online], Availablethrough<https://www.livekindly.co/increase-vegan-food-options-revenue-spike- tesco/>