This report discusses the role of marketing in business organizations, with a focus on EasyJet. It includes a SWOT analysis, objectives, marketing mix, implementation plan, and measurement of effectiveness.
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The Role of Marketing in Business organisation
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Table of Contents INTRODUCTION..........................................................................................................................3 MAIN BODY..................................................................................................................................3 Analysis of company and its market by using SWOT framework..............................................3 Objectives for marketing.............................................................................................................5 Strategy to approach market- marketing mix..............................................................................6 Outline as to how plan of the company will be implemented.....................................................7 How effectiveness of plan can be measured...............................................................................8 CONCLUSION...............................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION The marketing can be defined as the action of selling and promoting the products or servicesofthecompanywhichincludesadvertisementandmarketresearch.Inevery organization, the marketing unit plays an important role in the promotion of the business and its mission. It mainly serves as a face of the company, coordinate and produce all relevant materials which represents the organization. Marketing is a process which involves the series of steps that allows the company to identify the customer problems, analysis of the market opportunities and creation of marketing material in order to reach the potential target audience. Marketing plan is a document which includes the advertising strategy which the company can implement so that leads can be generated and target market can be reached (Deepak and Jeyakumar, 2019). The organization chosen for this report is EasyJet, a multinational airline which provide slow cost airline services. It was founded in the year 1995 and s headquartered in Luton. This report will cover the marketing plan for the company by including details such as SWOT analysis, objectives. Marketing mix, steps for implementing plan and how to measure effectiveness of the plan. MAIN BODY Analysis of company and its market by using SWOT framework. About company EasyJet is one of the British airline company which deals in the low cost services to the customers. It is headquartered in Luton, England and was founded in the year 1995.It operates in both the international and domestic scheduled services in more than 30 countries and over 1000 routes. It has grown and seen the expansion since the time of its establishment by the combination of the acquisitions. As nowadays EasyJet has seen the decline in its sales, there is a need for company to revive its marketing strategy so that it can attract more customers. In order to increase its sales, the organization is planning to introduce a new package for the business class people so that they can travel in low cost airline. The business package shall include the easy online boarding and check in to businessmen and the arrangement of meetings in the airline so that they can have their business going while travelling. About market Segmentation, Targeting and Positioning
Segmentationan be referred to as process which involves breaking the market into small groups on the basis of the common characteristics. It is mainly of four types: Demographics: It basically divides the market on the basis of the non character traits like age, income, age, religion, etc. Psychographics: It mainly focuses on the interest and personalities of customers and group them on the basis of traits such as hobbies, lifestyles, etc. Geographic: It is one of the easiest way to identify and segment the customers with regards to its physical location. It is defined in many ways such as country, city, region, postal code. Behavioural: This type of segmentation is useful for all the e- commerce business which requires less data which is to be effective truly, it groups the customers on the basis of purchasing power, spending habits, loyalty towards brand, etc. (Payne, Frow and Eggert, 2017) EasyJet segment the customer on the basis of demographic characteristics. Targeting It is a marketing strategy which involves the identification of the specific market or personas for the specific content. The organizations use the target marketing in order to learn about the customers in more details and also creates the advertisements for the specific group in order to maximise response. EasyJet mainly targets the customers who are wants low price for the airline services. It also target the government as well as private business travellers. Positioning It mainly defines where the product or service of the company stands in relation to the other by offering same offering in marketing and the mind of consumers. It is the ability in order to influence the consumer perception (Kannan, 2017B). EasyJet can position itself by building the strategy which can provide competitive advantage to it. It works on unparalleled network and the market position by the efficient low cost model. Market audit by SWOT framework It is the tool which is used to identify the strength and opportunities of the company so that it can overcome its threats and weakness. In relation to EasyJet, it is discussed below- Strength The brand image of EasyJet which is Weakness The competition in market is increasing
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beingestablishedforthecheapest flight in EU and UK is its biggest strengthasitattractsyoungand business travellers.Theorganizationfollowstheclear corporate social responsibility program withtheinitiativeswhichisgeared towardsdecreasingtheimpactof company on environment. from the legal carriers that have altered theirrespectivebusinessmodeland began to offer low price flight services. The company does not offer the free food service on its longer flight which aremorethanfortwohourswhich makes it difficult for the consumers. Opportunities EasyJetcanlookforthestrategic partnerships with the airports so that it can expand its system of route and also offer moreoptionsof travelfor the customers.The company can focus on business segment of the travellers as there is ongoing need for the business travel whichislessinfluencedbythe changing economic cycles (erman and Thelen, 2018). Threats The competitors of the company are offeringflights,frillsadtheroute optionsarelowcostwhichis threateningthemarketpositionof EasyJet. The external forces of market is also threat such as cost pressure relating to rise of oil cost, economicrecession, environmental expectation, etc. Objectives for marketing By engaging in the marketing of the services of EasyJet, its core objective will be the following- To increase the sales of the company by 20% in next 6 months. To expand the market reach in next 6 months. To enhance the profitability of the organization by 25% in next 12 months.
Strategy to approach market- marketing mix It is a strategy of marketing which involves set of tactics or actions which the company can use in order to promote the product or brand of the company. In context to EasyJet, 7Ps are discussed below-Product: It is the product or service which is offered by the company. EasyJet is planning to bring the new package exclusively for the business travellers wherein an exclusive meeting room will be provide to the business people so that they can work while travelling and save their time.Price: It is the value of the offering which the consumers are required to pay to avail the services. EasyJet will offer the new services at competitive pricing wherein it will not charge more or less than its competitors in order to stay within the competition.Place: It involves the distribution strategy of the organization. EasyJet has the excellent design of the website which mainly helps customers in checking price, building itinerary and also completing booking of tickets. It has include many foreign languages in it so that more customers are attracted that are not fluent in the English language. Customers can book via website or offline mode for the airline rickets (Ndofirepi, Farinloye and Mogaji, 2020).Promotion: It includes the strategy of promoting and communicating the product or service to the customers. As EasyJet have partnered with many tourist and travel website in order to increase its market research so it can make use of these websites for promoting new offers. It can use email marketing in order to reach their target market which is EasyJet so that it can attract them and communicate special discount via emails.People: It includes the people who are associated with the company and contributing in the achievement of goals. As EasyJet offers premium quality services to the customers so it has employed well skilled and trained staff who undergoes regular training so that the customers are handled in proper manner. Training is offered in the customer relationship management so that hanging needs of passengers are identified, thereby fulfilling the expectation of consumers.Process: It includes process involved in the delivery of the offering to the customers. The company EasyJet integrates offline and online mediums for providing customers services both at airport and online medium. The organization can regular analysis of its services
so that it can identify the scope of improvement in order provide satisfactory and complete experience to customers. Physical evidence:It is referred to everything which the customer looks when making interaction with business. As EasyJet has attractive website which is used by customers to book tickets, although customers can make booking via travel agents or the airports. While booking from website, the passengers get the online delivery of itinerary which will help it to reduce administrative cost and take the company towards sustainability (Palmatier, Kumar and Harmeling, 2017). Outline as to how plan of the company will be implemented. EasyJetcanimplementthenewmarketingplanbyfollowingthestepsdiscussed thereunder-Communicate with staff:This step involves communicating the details of the plan to the teamandstaffmembersandmakesurethattheyhavetheopportunitytomake contribution in it. EasyJet can communicate plan and assign the roles and responsibility to whole team so that they can began to work in it.Know end goals:The objectives of marketing plan must be aligned with the overall business goals of the organization. The marketing manager of EasyJet must not lose the sight of what it want to achieve in business. It must plan its objectives as per the end goals of company.Monitor the progress:Next step involves revisiting the marketing plan in every quarter so that the actual performance is compared with the plan. EasyJet can use benchmarkeing tool so that it can review its progress and compare the actual performance with plan so that it make improvement wherever needed.Make adjustments:This step involves making adjustment in the plan due to change in many factors such as technology, competition, market, suppliers, customers, etc. EasyJet must get engage in reviewing the performance so that it can make timely adjustment to it as per the changes in new trends such as technology, market, etc. (Churchill Jr, 2017) Develop contingency plan:As marketing is creative process which changes and grows so it is important for companies to develop the contingency plan with extended time line so that it can get ready for any contingencies. EasyJet can develop the contingency plan in case of any mis- happening so that it can get prepared in advance with new plan.
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How effectiveness of plan can be measured Tracking the performance of plan can provide the understanding of the overall health of business. In respect of the marketing plan, controlling and monitoring is the process which involves measuring the performance of plan and taking the corrective actions in order to assure that the plan is on the track in order to meet the goals. EasyJet can make use of the benchmarking tool which is a practice of making comparison of the actual performance with the plan. A standard is fixed by the company and the actual performance is compared with the standard (Mintz and et. al., 2021). Likewise the effectiveness of the plan will be measured by EasyJet with the help of benchmarking tool.
CONCLUSION It is concluded from this report that marketing plan is a document which outlines the advertising strategy which a company implements in order to generate leads as well as reach the target market. EasyJet is planning to prepare the marketing plan which involves new package for the business travellers. SWOT analysis is being used in order to conduct the market audit. Marketing mix is a strategy which is used in order to approach the market. The benchmarking tool will be used in order to measure the effectiveness of plan. The company can implement the plan by following the process which includes communicating plan to team, identify end goals, monitor the progress, make adjustments and develop the contingency plans so that it canbe implemented.
REFERENCES Books and Journals Berman,B.and Thelen,S., 2018.Planningandimplementingan effectiveomnichannel marketing program.International Journal of Retail & Distribution Management. Churchill Jr, G.A., 2017.Marketing. Saraiva Educação SA. Deepak, R.K.A. and Jeyakumar, S., 2019.Marketing management. Educreation Publishing. Kannan, P.K., 2017. Digital marketing: A framework, review and research agenda.International Journal of Research in Marketing.34(1). pp.22-45. Mintz, O., and et. al., 2021. The right metrics for marketing-mix decisions.International Journal of Research in Marketing.38(1). pp.32-49. Ndofirepi, E., Farinloye, T. and Mogaji, E., 2020. Marketing mix in a heterogenous higher education market: A case of Africa. InUnderstanding the higher education market in Africa(pp. 241-262). Routledge. Palmatier, R.W., Kumar, V. and Harmeling, C.M. eds., 2017.Customer engagement marketing. Springer. Payne,A.,Frow,P.andEggert,A.,2017.Thecustomervalueproposition:evolution, development, and application in marketing.Journal of the Academy of Marketing Science.45(4). pp.467-489.