Marketing Essentials Report
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This report explores the fundamental concepts of marketing, analyzing the roles and responsibilities of marketing functions within an organization. It uses Top Shop as a case study, examining how the company utilizes the marketing mix (7Ps) and Porter's Five Forces model to achieve its objectives. The report also evaluates the effectiveness of Top Shop's marketing plan, highlighting its strengths, weaknesses, opportunities, and threats.
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 The roles and responsibilities of marketing functions......................................................3
M1 Analyse the roles and responsibilities of marketing........................................................4
D1 Evaluation of key element of marketing function and their interrelation with functions.5
P2. The roles and responsibilities of marketing relate to the wider organisational context...5
M2. Significance of interrelationship between marketing and other function.......................7
TASK 2............................................................................................................................................8
P3 Different organisation using marketing mix for planning process to achieve objectives. 8
M3. Evaluation of different tactics applied by organisations...............................................12
TASK 3..........................................................................................................................................13
P4 Evaluation of marketing plans for an organisation.........................................................13
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 The roles and responsibilities of marketing functions......................................................3
M1 Analyse the roles and responsibilities of marketing........................................................4
D1 Evaluation of key element of marketing function and their interrelation with functions.5
P2. The roles and responsibilities of marketing relate to the wider organisational context...5
M2. Significance of interrelationship between marketing and other function.......................7
TASK 2............................................................................................................................................8
P3 Different organisation using marketing mix for planning process to achieve objectives. 8
M3. Evaluation of different tactics applied by organisations...............................................12
TASK 3..........................................................................................................................................13
P4 Evaluation of marketing plans for an organisation.........................................................13
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
INTRODUCTION
Marketing refers to the process for developing relationship with customers and satisfying
customers. This is totally customer oriented approach. This includes the advertisement, selling
and delivering products and services to the people. As main goal of marketing concept is to meet
the need and want of customers and ensure profitability for organisation. To better understand
this concept Top Shop, UK is being selected. This is a British multinational fashion retailer of
clothing, shows and other make up accessories. The role of marketing and interrelation and its
interrelation with other functional department is being explained in this report. As marketing mix
plays an important role in the achieving organisational goals, is also being explained in this
report. The marketing plan is very helpful for an organisation which is also discussed under this
report.
TASK 1
P1 The roles and responsibilities of marketing functions.
Marketing is an activity which is performed by organisations in order to create awareness
of their products and services to the public. According to American Marketing Association
Board of Directors, Marketing is activity, set of institutions and processes for creating,
communicating, delivering and exchanging offerings that have value for customers, clients,
partners and society at large (What Is Marketing, 2018).
Top Shop is referred to various roles and responsibilities which are operating successfully
by a manager. The roles and responsibilities are discussed as under:-
Marketing planning: Plans are made in accordance with effectiveness which is based on
roles of marketing. Marketing planing is considered as document which shows the tactics and
strategies for the organisations. With the help of this planning Top Shop can enhance its
productions and sales which ultimately leads to increased profitability of business. . They are
based on gathering information in regard with analysing situation of market. As per manager of
Top Shop company is to relate with goals and actioning steps.
Packaging and labelling: It is another context which is based on design of product with
package and label. In this approach marketers are encouraging potential buyers for purchase.
Marketing refers to the process for developing relationship with customers and satisfying
customers. This is totally customer oriented approach. This includes the advertisement, selling
and delivering products and services to the people. As main goal of marketing concept is to meet
the need and want of customers and ensure profitability for organisation. To better understand
this concept Top Shop, UK is being selected. This is a British multinational fashion retailer of
clothing, shows and other make up accessories. The role of marketing and interrelation and its
interrelation with other functional department is being explained in this report. As marketing mix
plays an important role in the achieving organisational goals, is also being explained in this
report. The marketing plan is very helpful for an organisation which is also discussed under this
report.
TASK 1
P1 The roles and responsibilities of marketing functions.
Marketing is an activity which is performed by organisations in order to create awareness
of their products and services to the public. According to American Marketing Association
Board of Directors, Marketing is activity, set of institutions and processes for creating,
communicating, delivering and exchanging offerings that have value for customers, clients,
partners and society at large (What Is Marketing, 2018).
Top Shop is referred to various roles and responsibilities which are operating successfully
by a manager. The roles and responsibilities are discussed as under:-
Marketing planning: Plans are made in accordance with effectiveness which is based on
roles of marketing. Marketing planing is considered as document which shows the tactics and
strategies for the organisations. With the help of this planning Top Shop can enhance its
productions and sales which ultimately leads to increased profitability of business. . They are
based on gathering information in regard with analysing situation of market. As per manager of
Top Shop company is to relate with goals and actioning steps.
Packaging and labelling: It is another context which is based on design of product with
package and label. In this approach marketers are encouraging potential buyers for purchase.
Top Shop company products are attract-full and preservative for numbers of customers which
promote effective in market (Baker, 2014).
Promotion: It is relating with career advancement of position in context with hierarchical
structure. Promotion describes persuading targeted audience relating with product and service for
increasing awareness and generate sales with brand loyalty. This function of marketing
encourages support by raising higher outcomes in sales promotion. Promotion can help Top Shop
to increase their sales and maximise their profitability.
Customer support services: It is a range of services which is based on cost effectiveness
and correcting use of product. Top Shop company is assisting maintenance, training , upgrading
and disposal of product which lay immediate benefit in management system. As per manager,
there is a need of exchanging ideas for outing more values of product purchasing.
Physical distribution: In this function company used to distribute products and services
in order to lead with profits and ensure satisfying them. It is associated with the activities in
order to supply finished products with production line to consumers. Top Shop has many of
distribution channels in order to deliver product with making benefits from them. Company is
looking after on many circumstances relating with ordering process, controlling inventory,
servicing customers etc.
Pricing of product: Price of product is defined by profit rates, company objectives,
competitor policy for earning profits. They are leading with systematic strategies which direct
effect came on succession of business (Boschetti and Massaron, 2015). As per manager of Top
Shop price is to be made according to the demand of product bin market trend (Westwood,
2013).
From the above roles and responsibilities, marketing function is based on satisfaction
provided to consumers in order by achieving goals and objectives. These role are describe
according to environmental aspects which is completely impact on functions of marketing.
Marketing environment are looking after on roles which makes a wide context on Top Shop
company.
M1 Analyse the roles and responsibilities of marketing
The marketing is an activity which is performed by organisations to promote their
products and services in market. This activity perform the various roles and responsibilities for
business like market planning, packaging and labelling, promotion, customer support service and
promote effective in market (Baker, 2014).
Promotion: It is relating with career advancement of position in context with hierarchical
structure. Promotion describes persuading targeted audience relating with product and service for
increasing awareness and generate sales with brand loyalty. This function of marketing
encourages support by raising higher outcomes in sales promotion. Promotion can help Top Shop
to increase their sales and maximise their profitability.
Customer support services: It is a range of services which is based on cost effectiveness
and correcting use of product. Top Shop company is assisting maintenance, training , upgrading
and disposal of product which lay immediate benefit in management system. As per manager,
there is a need of exchanging ideas for outing more values of product purchasing.
Physical distribution: In this function company used to distribute products and services
in order to lead with profits and ensure satisfying them. It is associated with the activities in
order to supply finished products with production line to consumers. Top Shop has many of
distribution channels in order to deliver product with making benefits from them. Company is
looking after on many circumstances relating with ordering process, controlling inventory,
servicing customers etc.
Pricing of product: Price of product is defined by profit rates, company objectives,
competitor policy for earning profits. They are leading with systematic strategies which direct
effect came on succession of business (Boschetti and Massaron, 2015). As per manager of Top
Shop price is to be made according to the demand of product bin market trend (Westwood,
2013).
From the above roles and responsibilities, marketing function is based on satisfaction
provided to consumers in order by achieving goals and objectives. These role are describe
according to environmental aspects which is completely impact on functions of marketing.
Marketing environment are looking after on roles which makes a wide context on Top Shop
company.
M1 Analyse the roles and responsibilities of marketing
The marketing is an activity which is performed by organisations to promote their
products and services in market. This activity perform the various roles and responsibilities for
business like market planning, packaging and labelling, promotion, customer support service and
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pricing of product. As an analysis, the benefit of these roles is that, promotion helps company to
increase their sales and get goals achieved. Pricing of product allows to set the strategic price
according to market study in order to be competitive in market.
D1 Evaluation of key element of marketing function and their interrelation with functions
Organisations are comprises of various departments which perform the organisational
activities in order to achieve organisational goals. As these functions are interrelated with each
other. The marketing function is related with the finance as finance allocate budget to all
departments so that they can perform their operations smoothly. Similarly marketing is related
with sales department. And in evaluating, it can be said that if marketing department is
performing well than goals of company will be achieved and vice versa.
P2. The roles and responsibilities of marketing relate to the wider organisational context.
Marketing is process on leading with product and services which are attaining activities
of customers for making promotion. It is helpful for company is order to make connection with
various strategies and schemes which influence company for better policies. Top Shop is dealing
market with an objective of section of business which is performed by manager. Decisions are
also affected by roles and responsibilities of functional department in an organisational context.
Here activities are performed in a manner by entertaining customers for long period of time.
Functions of marketing with various departments are defined below.
Relation of marketing and sales department:
Sales is defined by products and services of company which are leading with specified
period of time. It is a promotional activity which is based on enhancing customers and sales.. It is
determine for attaining defined objectives and improves manager efficiency. As per manager of
company, department of sales is to make divisions in regarding with selling to a right person.
This system is useful in context with increasing profit by sustaining longer period in market
place. Their purpose is to increase profits from organisation. As marketing operation is helpful
for creating awareness of products of Top Shop and this will ultimately leads to increase in sales
of company. So there is a positive relationship between marketing and sales department.
Relation of marketing and finance department:
Finance department is playing a vital role for company Top Shop which performs
activities like pricing, distributing, promoting and so on. Their includes many of the functions
like financial data, billing, preparation of financial statement (Cleverley and Cleverley, 2017).
increase their sales and get goals achieved. Pricing of product allows to set the strategic price
according to market study in order to be competitive in market.
D1 Evaluation of key element of marketing function and their interrelation with functions
Organisations are comprises of various departments which perform the organisational
activities in order to achieve organisational goals. As these functions are interrelated with each
other. The marketing function is related with the finance as finance allocate budget to all
departments so that they can perform their operations smoothly. Similarly marketing is related
with sales department. And in evaluating, it can be said that if marketing department is
performing well than goals of company will be achieved and vice versa.
P2. The roles and responsibilities of marketing relate to the wider organisational context.
Marketing is process on leading with product and services which are attaining activities
of customers for making promotion. It is helpful for company is order to make connection with
various strategies and schemes which influence company for better policies. Top Shop is dealing
market with an objective of section of business which is performed by manager. Decisions are
also affected by roles and responsibilities of functional department in an organisational context.
Here activities are performed in a manner by entertaining customers for long period of time.
Functions of marketing with various departments are defined below.
Relation of marketing and sales department:
Sales is defined by products and services of company which are leading with specified
period of time. It is a promotional activity which is based on enhancing customers and sales.. It is
determine for attaining defined objectives and improves manager efficiency. As per manager of
company, department of sales is to make divisions in regarding with selling to a right person.
This system is useful in context with increasing profit by sustaining longer period in market
place. Their purpose is to increase profits from organisation. As marketing operation is helpful
for creating awareness of products of Top Shop and this will ultimately leads to increase in sales
of company. So there is a positive relationship between marketing and sales department.
Relation of marketing and finance department:
Finance department is playing a vital role for company Top Shop which performs
activities like pricing, distributing, promoting and so on. Their includes many of the functions
like financial data, billing, preparation of financial statement (Cleverley and Cleverley, 2017).
Both departments are leading with expenses relating to functions like distribution,
advertisements, which are recorded under marketing but kept by finance department. Top Shop
company is preparing balance sheet which are interrelating with expenses and are maintained in
proper reports by department of finance. As per manager of company, their requires many of the
data and information which are collected by departments from different sources. As to perform
the marketing activities it requires huge fund and finance department allocate fund to various
department to perform their operation's effectively. So there is interlinked with marketing and
finance department of organisation.
Relation of marketing and HRD( Human resource department):
HR department is managing roles and responsibilities in order to resolve issues or
conflicts made in between employees. Top Shop company is providing trainings to new workers
and building quality for maintaining piece in department. This is helpful in context with making
growth in production process(Hugos, 2018). Department of marketing and HR both are
interrelating with training programmes by making arrangements for producing effective
products. Buyer is attracted in accordance with image of company and product in market which
is based on promotion of desire product.
Relation of marketing and IT department:
IT department is based on new upcoming technology which is useful of Top Shop
company for improving efficiency and production. Company is dealing with activities which are
determine by producing products with new applications and profitability. As now days new
technologies has arrived in the market which is used by marketing department and assist by
information technology department of organisation. As for example, to provide after sales
services IT develop the customer feedback portals for marketing department (Liu and et. al.,
2013).
Relation of marketing and Operation department:
Operation department is leading by managing personnel and raw materials which are
useful in production profits. Company is looking forward on responsible functions by gathering
and analysing information by satisfying customer needs and wants. Operation department is
playing a liable role in producing goods by gathering information for different sources. Here
departments are interlinked with each other by fulfilling consumer needs. As per manager of Top
advertisements, which are recorded under marketing but kept by finance department. Top Shop
company is preparing balance sheet which are interrelating with expenses and are maintained in
proper reports by department of finance. As per manager of company, their requires many of the
data and information which are collected by departments from different sources. As to perform
the marketing activities it requires huge fund and finance department allocate fund to various
department to perform their operation's effectively. So there is interlinked with marketing and
finance department of organisation.
Relation of marketing and HRD( Human resource department):
HR department is managing roles and responsibilities in order to resolve issues or
conflicts made in between employees. Top Shop company is providing trainings to new workers
and building quality for maintaining piece in department. This is helpful in context with making
growth in production process(Hugos, 2018). Department of marketing and HR both are
interrelating with training programmes by making arrangements for producing effective
products. Buyer is attracted in accordance with image of company and product in market which
is based on promotion of desire product.
Relation of marketing and IT department:
IT department is based on new upcoming technology which is useful of Top Shop
company for improving efficiency and production. Company is dealing with activities which are
determine by producing products with new applications and profitability. As now days new
technologies has arrived in the market which is used by marketing department and assist by
information technology department of organisation. As for example, to provide after sales
services IT develop the customer feedback portals for marketing department (Liu and et. al.,
2013).
Relation of marketing and Operation department:
Operation department is leading by managing personnel and raw materials which are
useful in production profits. Company is looking forward on responsible functions by gathering
and analysing information by satisfying customer needs and wants. Operation department is
playing a liable role in producing goods by gathering information for different sources. Here
departments are interlinked with each other by fulfilling consumer needs. As per manager of Top
Shop company, their assist products with satisfy needs of consumer (Zhou, Varadharajan and
Hitchens, 2013)
From this interrelation, marketing is related with other functional units and various
departments of an organisation. Company is leading with functions which are making focus in an
organisation by human resource, IT, customer service provision, research and development,
operations or logistics.
M2. Significance of interrelationship between marketing and other function
There are various functional unit in organisation like marketing, finance, human resource
management and information technology which supports the organisation to perform their goals
effectively. These functional units are independent and interrelated with each other. There
interrelation plays significant role in the organisation. As it enhance flow of communication
within company and information sharing will be more. So decision can be taken more
effectively.
Hitchens, 2013)
From this interrelation, marketing is related with other functional units and various
departments of an organisation. Company is leading with functions which are making focus in an
organisation by human resource, IT, customer service provision, research and development,
operations or logistics.
M2. Significance of interrelationship between marketing and other function
There are various functional unit in organisation like marketing, finance, human resource
management and information technology which supports the organisation to perform their goals
effectively. These functional units are independent and interrelated with each other. There
interrelation plays significant role in the organisation. As it enhance flow of communication
within company and information sharing will be more. So decision can be taken more
effectively.
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TASK 2
P3 Different organisation using marketing mix for planning process to achieve objectives.
An organisation is making focus on enhancing activities in order by using 7P's of
marketing mix. They are basically define as product, price, place, promotion, physical
environment, people and process (Larson and Draper, 2015). They are used by companies in
0order to stand in market when having competition which was too long. Mix is determine by
fundamental changes incurred in market place. Top Shop is preferring this tool of business which
is determining product brands which are associating with mix.
P3 Different organisation using marketing mix for planning process to achieve objectives.
An organisation is making focus on enhancing activities in order by using 7P's of
marketing mix. They are basically define as product, price, place, promotion, physical
environment, people and process (Larson and Draper, 2015). They are used by companies in
0order to stand in market when having competition which was too long. Mix is determine by
fundamental changes incurred in market place. Top Shop is preferring this tool of business which
is determining product brands which are associating with mix.
Basis Top Shop Avon Products
Products This company is leading with
product which is in great depth
of production for providing
customer
satisfaction(Cherubini,
Iasevoli and Michelini, 2015).
They are leading with products
likes perfumes, toys, clothing
etc. They are categorised in
fragrance fairness creams etc.
Price Here prices are assumed
according to customer
affordance level or at cheapest
availability of products. The
company is using market
based approach for their
pricing of product (Dumasi,
Dhurup and Mafini, 2014).
Here the prices are examined
on the basis of competitors in
market. Product rates are
depending on targeted
markets. As it is following cost
based pricing approach.
Place They are using various
sources in distributing high
range of products via mail,
high street etc. It has more
than 300 stores in UK and 140
franchised store across the
globe (Jackson, 2013).
They are leading with
strategies in making size,
channels and distribution with
a wide range of products. As
this has around 600 to 700
store across world.
Promotion Here promotions are made by
advertising, personal selling
etc. social media is also opt by
this company which is a tool
of communication (Koch and
Benlian, 2015)
They are using catalogue for
promoting with correct
audiences required for putting
across an organisation..
People Peoples are more demanding Here peoples are thoughtful
Products This company is leading with
product which is in great depth
of production for providing
customer
satisfaction(Cherubini,
Iasevoli and Michelini, 2015).
They are leading with products
likes perfumes, toys, clothing
etc. They are categorised in
fragrance fairness creams etc.
Price Here prices are assumed
according to customer
affordance level or at cheapest
availability of products. The
company is using market
based approach for their
pricing of product (Dumasi,
Dhurup and Mafini, 2014).
Here the prices are examined
on the basis of competitors in
market. Product rates are
depending on targeted
markets. As it is following cost
based pricing approach.
Place They are using various
sources in distributing high
range of products via mail,
high street etc. It has more
than 300 stores in UK and 140
franchised store across the
globe (Jackson, 2013).
They are leading with
strategies in making size,
channels and distribution with
a wide range of products. As
this has around 600 to 700
store across world.
Promotion Here promotions are made by
advertising, personal selling
etc. social media is also opt by
this company which is a tool
of communication (Koch and
Benlian, 2015)
They are using catalogue for
promoting with correct
audiences required for putting
across an organisation..
People Peoples are more demanding Here peoples are thoughtful
with target market for certain
products and services.
and passionate in regarding
with growing scale which
attract customers (Meyer and
Cohen, 2018).
Process They are delivering services
which is done by present
customers usually done once
again a part (McDonald and
Wilson, 2016).
Their process is tweaking and
advancing for business in this
company. Company is opting
minimum costs and maximum
profits.
Physical evidence The company stores are very
bright and stand alone due to
its lay out and appearance..
The Avon has also the
outstanding stores with high
class interior which attract the
consumers to step towards the
stores (Schmitz and Ganesan,
2014).
In respect to with these P's of marketing is based on resolving issues, improving goals
and objectives, strategies implementation, making development, selection, monitor and
evaluation of plans. Top Shop company is examining strategic plans which are based on
planning process lay on organisation(Malhotra, 2015). Planning process is useful is dealing with
marketing mix are consider below.
Recognizing need for action: Planning process is an important approach which is used by
Top Shop company. This is useful in an order to make awareness of business opportunit9ies
which are relating with external environment. As per manager, company is able to recognise
opportunities or challenges that could be faced. It is a realistic look which is classified by SWOT
analysis.
Setting objectives: It is a most important step which is based on establishments of objectives by
providing general direction. Objectives that are to be set either having long or short term. Top
Shop company is indicating with end results which are percolate with marketing mix and guide
them in right direction.
products and services.
and passionate in regarding
with growing scale which
attract customers (Meyer and
Cohen, 2018).
Process They are delivering services
which is done by present
customers usually done once
again a part (McDonald and
Wilson, 2016).
Their process is tweaking and
advancing for business in this
company. Company is opting
minimum costs and maximum
profits.
Physical evidence The company stores are very
bright and stand alone due to
its lay out and appearance..
The Avon has also the
outstanding stores with high
class interior which attract the
consumers to step towards the
stores (Schmitz and Ganesan,
2014).
In respect to with these P's of marketing is based on resolving issues, improving goals
and objectives, strategies implementation, making development, selection, monitor and
evaluation of plans. Top Shop company is examining strategic plans which are based on
planning process lay on organisation(Malhotra, 2015). Planning process is useful is dealing with
marketing mix are consider below.
Recognizing need for action: Planning process is an important approach which is used by
Top Shop company. This is useful in an order to make awareness of business opportunit9ies
which are relating with external environment. As per manager, company is able to recognise
opportunities or challenges that could be faced. It is a realistic look which is classified by SWOT
analysis.
Setting objectives: It is a most important step which is based on establishments of objectives by
providing general direction. Objectives that are to be set either having long or short term. Top
Shop company is indicating with end results which are percolate with marketing mix and guide
them in right direction.
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Developing Premises: This is done by determining mix which is based on forecasting
assumptions, policies and plans(Mueller, 2015). Top Shop is using mix for developing product
which are based on development of product with quality in available resources. Company is
forecasting by internally and externally of product.
Identify Alternatives: this process is based on making identification on available options.
Company is hoping to get effective outcomes by using innovation based on many courses.
According to mix, here make identification of prices and physical evidences of product. This is
made by unique brand and product.
Examining alternative course of action: Process is made for plans that to be achieve in
order with purpose of implementing those mix. Top Shop company is leading with a purpose of
examining various courses of action takes place in achieving objectives.
Selecting alternative: In this P's of marketing mix is useful in any adaptable situation
which is making big part in taking decision. As a manager of Top Shop company, here making
involvement in various combined plans.
Formulating Supporting plans: As a manager, company is to lead with supporting plans
by using promotion mix. This is relating with this process in determining formulating plans. It is
a secondary plan which is based on launching of new product.
Implementation of plan: It is the last plan which is based on functions to play in order by
achieving objectives for an organisation. This tool is used by Top Shop company which made
implementation involvement in types of plans, procedure, policies, budgets and standard of
product.
Marketing tactics is useful for an organisation in form of determining their structure
based on describing level of competition in market(Proctor, 2014). Porter five forces theory is
also based on determination made by Top Shop company are describe below.
Porter's Five forces model:
This model is describe by competitive forces which are faced by Top Shop company like
threat of new entrants, threat of substitutes, bargaining power of customer and supplier and last
competitive rivalry.
Threats of new entrance: It is a force which is made by industry in order by which they
are facing barriers which are making profits. Company is leading with this competitive market
where new entrances on customer are higher who are facing circumstances are defined below.
assumptions, policies and plans(Mueller, 2015). Top Shop is using mix for developing product
which are based on development of product with quality in available resources. Company is
forecasting by internally and externally of product.
Identify Alternatives: this process is based on making identification on available options.
Company is hoping to get effective outcomes by using innovation based on many courses.
According to mix, here make identification of prices and physical evidences of product. This is
made by unique brand and product.
Examining alternative course of action: Process is made for plans that to be achieve in
order with purpose of implementing those mix. Top Shop company is leading with a purpose of
examining various courses of action takes place in achieving objectives.
Selecting alternative: In this P's of marketing mix is useful in any adaptable situation
which is making big part in taking decision. As a manager of Top Shop company, here making
involvement in various combined plans.
Formulating Supporting plans: As a manager, company is to lead with supporting plans
by using promotion mix. This is relating with this process in determining formulating plans. It is
a secondary plan which is based on launching of new product.
Implementation of plan: It is the last plan which is based on functions to play in order by
achieving objectives for an organisation. This tool is used by Top Shop company which made
implementation involvement in types of plans, procedure, policies, budgets and standard of
product.
Marketing tactics is useful for an organisation in form of determining their structure
based on describing level of competition in market(Proctor, 2014). Porter five forces theory is
also based on determination made by Top Shop company are describe below.
Porter's Five forces model:
This model is describe by competitive forces which are faced by Top Shop company like
threat of new entrants, threat of substitutes, bargaining power of customer and supplier and last
competitive rivalry.
Threats of new entrance: It is a force which is made by industry in order by which they
are facing barriers which are making profits. Company is leading with this competitive market
where new entrances on customer are higher who are facing circumstances are defined below.
No government regulation
company not having good reputation in brand
lower customer loyalty
scale of economies can be achieved switching of customers are low
Bargaining power of supplier: Company is building strong power in bargaining which
sell higher prices of product with lower quality. Their having direct impact made on profits
which are made on pay for materials. This include.
Few amount of suppliers but having many buyers.
Suppliers are holding scarcity of resources. Switching cost on raw material is higher.
Bargaining power of buyers: Top Shop company is demanding with lower prices of
product with higher quality of product which is making strong bargaining power(Purvis, 2015).
Lower prices is determine by lower revenues which are leading with higher quality and usually
increase cost of production. Here includes.
Buyers are leading with sensitive prices on product.
Their having many substitutes in market. There exist only few amount buyers.
Threat of substitutes: this tactics is especially threaten easily of substitute products. Top
Shop company is attracting with prices and better quality which switches on product and service
with having minim um cost.
Rivalry among existing competitors: It is a major determinate used in competitive and
profitable company. Top Shop is competing with market share which are resulting with low
profits. Here, competitors’ rivalry includes:
High amount of exiting barriers.
Equal size of competitors.
Slowly growth of industry.
M3. Evaluation of different tactics applied by organisations
As marketing mix is an important technique for achieving organisational goals and
objectives effectively and efficiently. This enables company to achieve marketing goals
effectively and efficiently. With the help of 7p's one can market its product and services with
company not having good reputation in brand
lower customer loyalty
scale of economies can be achieved switching of customers are low
Bargaining power of supplier: Company is building strong power in bargaining which
sell higher prices of product with lower quality. Their having direct impact made on profits
which are made on pay for materials. This include.
Few amount of suppliers but having many buyers.
Suppliers are holding scarcity of resources. Switching cost on raw material is higher.
Bargaining power of buyers: Top Shop company is demanding with lower prices of
product with higher quality of product which is making strong bargaining power(Purvis, 2015).
Lower prices is determine by lower revenues which are leading with higher quality and usually
increase cost of production. Here includes.
Buyers are leading with sensitive prices on product.
Their having many substitutes in market. There exist only few amount buyers.
Threat of substitutes: this tactics is especially threaten easily of substitute products. Top
Shop company is attracting with prices and better quality which switches on product and service
with having minim um cost.
Rivalry among existing competitors: It is a major determinate used in competitive and
profitable company. Top Shop is competing with market share which are resulting with low
profits. Here, competitors’ rivalry includes:
High amount of exiting barriers.
Equal size of competitors.
Slowly growth of industry.
M3. Evaluation of different tactics applied by organisations
As marketing mix is an important technique for achieving organisational goals and
objectives effectively and efficiently. This enables company to achieve marketing goals
effectively and efficiently. With the help of 7p's one can market its product and services with
more authenticity. Apart from this, to overcome company's competitors, organisations use the
porter five force model which allows to identify new entrants in market, bargaining power of
supplier and customers and according to that make strategy to achieve the goals.
TASK 3
P4 Evaluation of marketing plans for an organisation
Plans are prepared in document which are made by strategies in specific period of time
which are relating with costs, actions, goals and objectives. Top Shop is looking after on
accomplishing goals which are based on developing strategies.
Executed Summary: Plan is based on making attraction and focus of customers on
product of Top Shop(Rancati, Gordini and Capatina, 2016). This is made in order to gain profits
by leading with essential creativity. The plans are describe in order to product range in
competitive market.
Company Overview
Top shop is a British multinational fashion retailer of clothing, shows and other make up
accessories.
Vision and mission: Vision plan is based on future aspects in marketing. It is mention in
in well defined manner by making measurements in step and progress. Top Shop is making
useful plans and procedure which are leading with quality product and services. This services are
offered to customer by ensuring delivery to make improvements.
Mission is described by leading business present growth by attracting peoples who are
retaining and attracting towards it. Managers are in need for growing business in enhancing goals
and objectives. Top Shop is leading with plans and procedure which are based on goal
orientation .
Goals and Objectives: Top Shop company is making well define goals and objectives
which are visioning in realistic terms. They are making continuous focus on direction and
claritry in business of an organisation. Company is based on taking risk which is in order to
achieve goals in SMART way such as Specific, Measurable, Attainable, Relevant and Timely.
They are based on specific criteria of result and outcome. The smart objective for Topshop is
the “ Explore the new world with social network”.
porter five force model which allows to identify new entrants in market, bargaining power of
supplier and customers and according to that make strategy to achieve the goals.
TASK 3
P4 Evaluation of marketing plans for an organisation
Plans are prepared in document which are made by strategies in specific period of time
which are relating with costs, actions, goals and objectives. Top Shop is looking after on
accomplishing goals which are based on developing strategies.
Executed Summary: Plan is based on making attraction and focus of customers on
product of Top Shop(Rancati, Gordini and Capatina, 2016). This is made in order to gain profits
by leading with essential creativity. The plans are describe in order to product range in
competitive market.
Company Overview
Top shop is a British multinational fashion retailer of clothing, shows and other make up
accessories.
Vision and mission: Vision plan is based on future aspects in marketing. It is mention in
in well defined manner by making measurements in step and progress. Top Shop is making
useful plans and procedure which are leading with quality product and services. This services are
offered to customer by ensuring delivery to make improvements.
Mission is described by leading business present growth by attracting peoples who are
retaining and attracting towards it. Managers are in need for growing business in enhancing goals
and objectives. Top Shop is leading with plans and procedure which are based on goal
orientation .
Goals and Objectives: Top Shop company is making well define goals and objectives
which are visioning in realistic terms. They are making continuous focus on direction and
claritry in business of an organisation. Company is based on taking risk which is in order to
achieve goals in SMART way such as Specific, Measurable, Attainable, Relevant and Timely.
They are based on specific criteria of result and outcome. The smart objective for Topshop is
the “ Explore the new world with social network”.
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Marketing Research: It is link with the setting by identifying and defining opportunities
resolving issues and designs. This collective information is based on various sources and
implemented by making plans and procedure. It is based on making communication in regarding
with purpose by finding issues on product and service (Godey and et. al., 2016).
Segmentation and targeting
The Top shop focuses on homogeneous market segment for the upper, upper – middle
and middle class. The main target would be those people who has income bracket of 25000 –
250000.
Positioning:
The company wants to establish itself as renowned trademark. They would provide
accessories to all tech savy professionals.
SWOT of TOPSHOP
Strength Weakness Opportunities Threats
Competitive
pricing
Free of cost
personal style
consultant
Wide range of
variety for
products.
Low store
stock
Minimum
advertisement
expenses
Fast growing
demand from
various ASIAN
markets.
Strong
financial
background
External
factors like
political and
environmenral
can affect
sales.
Strong
competitors.
Budget: This is defined by financial plans made in during particular period of time.
Company make its own production which include surplus, capital income, deficit and
expenses(Rowley, 2016). Top Shop company is intended with proposals which are existing with
expenses. Their impact came on by government and other organisations which are leading with
taxation policy made on production process.
Expected Marketing Budget
Particular Expenses
Market research 1000
Advertisement 4000
resolving issues and designs. This collective information is based on various sources and
implemented by making plans and procedure. It is based on making communication in regarding
with purpose by finding issues on product and service (Godey and et. al., 2016).
Segmentation and targeting
The Top shop focuses on homogeneous market segment for the upper, upper – middle
and middle class. The main target would be those people who has income bracket of 25000 –
250000.
Positioning:
The company wants to establish itself as renowned trademark. They would provide
accessories to all tech savy professionals.
SWOT of TOPSHOP
Strength Weakness Opportunities Threats
Competitive
pricing
Free of cost
personal style
consultant
Wide range of
variety for
products.
Low store
stock
Minimum
advertisement
expenses
Fast growing
demand from
various ASIAN
markets.
Strong
financial
background
External
factors like
political and
environmenral
can affect
sales.
Strong
competitors.
Budget: This is defined by financial plans made in during particular period of time.
Company make its own production which include surplus, capital income, deficit and
expenses(Rowley, 2016). Top Shop company is intended with proposals which are existing with
expenses. Their impact came on by government and other organisations which are leading with
taxation policy made on production process.
Expected Marketing Budget
Particular Expenses
Market research 1000
Advertisement 4000
Agency fees 2000
Total 7000
Monitoring and controlling:
The monitoring and controlling is very important in order to review the market plan. As
this allows manager to find deviation in plan and take corrective action.
CONCLUSION
From the above mention report, it is concluded that performed roles and responsibilities
are relating with the functions of marketing. Here concluded that product of Top Shop is m,aking
higher production in market which are based on mix and process of planning. The evaluation is
made by using plans of marketing. From using these plans their made estimation for making
invention of new product. This is usually in context with achieving overall marketing goals and
objectives. Company is opting new product innovation which is concluded for enhancing gains.
Top Shop is basically leading with plans which are examining vision and mission, research,
budget, SWOT etc.
Total 7000
Monitoring and controlling:
The monitoring and controlling is very important in order to review the market plan. As
this allows manager to find deviation in plan and take corrective action.
CONCLUSION
From the above mention report, it is concluded that performed roles and responsibilities
are relating with the functions of marketing. Here concluded that product of Top Shop is m,aking
higher production in market which are based on mix and process of planning. The evaluation is
made by using plans of marketing. From using these plans their made estimation for making
invention of new product. This is usually in context with achieving overall marketing goals and
objectives. Company is opting new product innovation which is concluded for enhancing gains.
Top Shop is basically leading with plans which are examining vision and mission, research,
budget, SWOT etc.
REFERENCES
Books and Journals
Baker, M. A. and Magnini, V. P., 2016. The evolution of services marketing, hospitality
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Baker, M. J., 2014. Marketing strategy and management. Macmillan International Higher
Education.
Boschetti, A. and Massaron, L., 2015. Python data science essentials. Packt Publishing Ltd.
Cherubini, S., Iasevoli, G. and Michelini, L., 2015. Product-service systems in the electric car
industry: critical success factors in marketing. Journal of Cleaner Production. 97.
pp.40-49.
Cleverley, W. O. and Cleverley, J. O., 2017. Essentials of health care finance. Jones & Bartlett
Learning.
Dumasi, T., Dhurup, M. and Mafini, C., 2014. The impact of packaging, price and brand
awareness on brand loyalty: Evidence from the paint retailing industry. Professional
Accountant. 14(1), pp.1-9.
Godey, B. and et. al., 2016. Social media marketing efforts of luxury brands: Influence on brand
equity and consumer behavior. Journal of business research. 69(12). pp.5833-5841.
Hugos, M. H., 2018. Essentials of supply chain management. John Wiley & Sons.
Jackson, N., 2013. Promoting and marketing events: Theory and practice. Routledge.
Koch, O.F. and Benlian, A., 2015. Promotional tactics for online viral marketing campaigns:
how scarcity and personalization affect seed stage referrals. Journal of Interactive
Marketing. 32. pp.37-52.
Larson, J. and Draper, S., 2015. Internet Marketing Essentials: A Comprehensive Digital
Marketing Textbook. Stukent, Incorporated.
Liu, H. and et. al., 2013. The impact of IT capabilities on firm performance: The mediating roles
of absorptive capacity and supply chain agility. Decision Support Systems. 54(3).
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Malhotra, N. K., 2015. Essentials of marketing research: A hands-on orientation. Essex:
Pearson.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from
them. John Wiley & Sons.
Meyer, C. and Cohen, D.G., 2018, July. Porter’s Five Forces in the Post-industrial Age.
In Academy of Management Proceedings (Vol. 2018, No. 1, p. 16589). Briarcliff
Manor, NY 10510: Academy of Management.
Mueller, J. P. And et. al., 2015. Community‐based livestock breeding programmes: essentials
and examples. Journal of Animal Breeding and Genetics. 132(2). pp.155-168.
Proctor, T., 2014. Strategic marketing: an introduction. Routledge.
Purvis, J., 2015. Human resources marketing and recruiting: Essentials of digital recruiting.
Handbook of Human Resources Management, pp.1-19.
Rancati, E., Gordini, N. and Capatina, A., 2016. Conceptualizing and Measuring Content
Marketing in Luxury Firms: An Exploratory Analysis. In Global Marketing Strategies
for the Promotion of Luxury Goods (pp. 109-132). IGI Global.
Rowley, J., 2016. Information marketing. Routledge.
Books and Journals
Baker, M. A. and Magnini, V. P., 2016. The evolution of services marketing, hospitality
marketing and building the constituency model for hospitality marketing. International
Journal of Contemporary Hospitality Management. 28(8). pp.1510-1534.
Baker, M. J., 2014. Marketing strategy and management. Macmillan International Higher
Education.
Boschetti, A. and Massaron, L., 2015. Python data science essentials. Packt Publishing Ltd.
Cherubini, S., Iasevoli, G. and Michelini, L., 2015. Product-service systems in the electric car
industry: critical success factors in marketing. Journal of Cleaner Production. 97.
pp.40-49.
Cleverley, W. O. and Cleverley, J. O., 2017. Essentials of health care finance. Jones & Bartlett
Learning.
Dumasi, T., Dhurup, M. and Mafini, C., 2014. The impact of packaging, price and brand
awareness on brand loyalty: Evidence from the paint retailing industry. Professional
Accountant. 14(1), pp.1-9.
Godey, B. and et. al., 2016. Social media marketing efforts of luxury brands: Influence on brand
equity and consumer behavior. Journal of business research. 69(12). pp.5833-5841.
Hugos, M. H., 2018. Essentials of supply chain management. John Wiley & Sons.
Jackson, N., 2013. Promoting and marketing events: Theory and practice. Routledge.
Koch, O.F. and Benlian, A., 2015. Promotional tactics for online viral marketing campaigns:
how scarcity and personalization affect seed stage referrals. Journal of Interactive
Marketing. 32. pp.37-52.
Larson, J. and Draper, S., 2015. Internet Marketing Essentials: A Comprehensive Digital
Marketing Textbook. Stukent, Incorporated.
Liu, H. and et. al., 2013. The impact of IT capabilities on firm performance: The mediating roles
of absorptive capacity and supply chain agility. Decision Support Systems. 54(3).
pp.1452-1462.
Malhotra, N. K., 2015. Essentials of marketing research: A hands-on orientation. Essex:
Pearson.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from
them. John Wiley & Sons.
Meyer, C. and Cohen, D.G., 2018, July. Porter’s Five Forces in the Post-industrial Age.
In Academy of Management Proceedings (Vol. 2018, No. 1, p. 16589). Briarcliff
Manor, NY 10510: Academy of Management.
Mueller, J. P. And et. al., 2015. Community‐based livestock breeding programmes: essentials
and examples. Journal of Animal Breeding and Genetics. 132(2). pp.155-168.
Proctor, T., 2014. Strategic marketing: an introduction. Routledge.
Purvis, J., 2015. Human resources marketing and recruiting: Essentials of digital recruiting.
Handbook of Human Resources Management, pp.1-19.
Rancati, E., Gordini, N. and Capatina, A., 2016. Conceptualizing and Measuring Content
Marketing in Luxury Firms: An Exploratory Analysis. In Global Marketing Strategies
for the Promotion of Luxury Goods (pp. 109-132). IGI Global.
Rowley, J., 2016. Information marketing. Routledge.
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Scarborough, N. M., 2016. Essentials of entrepreneurship and small business management.
Pearson.
Schmitz, C. and Ganesan, S., 2014. Managing customer and organizational complexity in sales
organizations. Journal of Marketing. 78(6). pp.59-77.
Urbina, S., 2014. Essentials of psychological testing. John Wiley & Sons.
Westwood, J., 2013. How to write a marketing plan. Kogan Page Publishers.
Zhou, L., Varadharajan, V. and Hitchens, M., 2013. Achieving secure role-based access control
on encrypted data in cloud storage. IEEE transactions on information forensics and
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Marketing essentials. 2018. [Online]. Available
Through:<https://www.hubspot.com/agencies/marketing-essentials>
What Is Marketing?. 2018. [Online]. Available
Through:<https://marketbusinessnews.com/financial-glossary/marketing-definition-meaning/>
Marketing essentials. 2018.[Online]. Available
Through:<https://www.hubspot.com/agencies/marketing-essentials>
Pearson.
Schmitz, C. and Ganesan, S., 2014. Managing customer and organizational complexity in sales
organizations. Journal of Marketing. 78(6). pp.59-77.
Urbina, S., 2014. Essentials of psychological testing. John Wiley & Sons.
Westwood, J., 2013. How to write a marketing plan. Kogan Page Publishers.
Zhou, L., Varadharajan, V. and Hitchens, M., 2013. Achieving secure role-based access control
on encrypted data in cloud storage. IEEE transactions on information forensics and
security. 8(12). pp.1947-1960.
Online
Marketing essentials. 2018. [Online]. Available
Through:<https://www.hubspot.com/agencies/marketing-essentials>
What Is Marketing?. 2018. [Online]. Available
Through:<https://marketbusinessnews.com/financial-glossary/marketing-definition-meaning/>
Marketing essentials. 2018.[Online]. Available
Through:<https://www.hubspot.com/agencies/marketing-essentials>
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