Marketing Process and Planning for Tesco: An Evaluation of Marketing Mix and Recommendations
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This report evaluates the marketing process and planning of Tesco, including the role of marketing function, extended marketing mix, and how it contributes to the success of the organization. It also provides recommendations for Tesco to improve its marketing strategies.
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Table of Contents INTRODUCTION...........................................................................................................................4 PART-1............................................................................................................................................4 MAIN BODY...................................................................................................................................4 definition of marketing................................................................................................................4 Description of the role of marketing function.............................................................................5 Marketing function works and interacts with other departments................................................5 Extended marketing mix of Tesco..............................................................................................6 An evaluation of how the marketing mix contributes to the success of the organisation in meeting their overall business objectives....................................................................................9 Recommendations.....................................................................................................................10 CONCLUSION..............................................................................................................................10 REFERENCES..............................................................................................................................11 PART-2..........................................................................................................................................12 Strategic marketing plan links with the overall organizational mission, corporate strategy and objectives...................................................................................................................................12 Clear and SMART marketing objectives..................................................................................12 Marketing research to support the new product line launch.....................................................12 A situational analysis.....................................................................................................................13 Marketing audit.........................................................................................................................13 Competitor analysis..................................................................................................................15 Sub-segments............................................................................................................................15 New product value-proposition................................................................................................16 Development of the marketing strategies applied to the extended marketing mix...................17 Marketing budget......................................................................................................................17 Tactical actions..............................................................................................................................17 Identifying appropriate control and monitoring measures........................................................17 Media budget.................................................................................................................................18 Recommendations and rationale for selected and integrated multi-media activities................18 Appropriate digital, offline and social media channels for communication.............................19
Multi-media plan based on quantitative and qualitative criteria...............................................19 REFERENCES..............................................................................................................................20
INTRODUCTION Marketing is defined as the activity that is used by the organisation for the purpose of promoting organisational products and services in market. In marketing various activities and actions are included such as advertising, selling as well as delivering products to customers and other business entities. It executed by the organisation for stimulating demand of customers for purchasing business products and services. Marketing planning is referred as the process of organising and defining organisational marketing aims and develop strategies and tactics to attain these goal and objectives in efficient manner(Barzotto and De Propris, 2019). In this report chosen organisation is Tesco which is British multinational groceries and retailing organisation founded in 1919 by Jack Cohen. Headquarter of organisation situated in Welwyn Garden City, Hertfordshire, England, UK. Tesco serves in United Kingdom, Hungry, Ireland, Slovakia and Czech Republic through opening 7,005 stores. This report covers in two parts. In first part concept of marketing, marketing functional and their interrelation with other departments and extendedmarketmixarementioned.Insecondpartconnectionofmarketingplanwith organisational mission, strategy and objectives, situational analysis, tactical actions and media budget is explained in the context of Tesco organisation. PART-1 MAIN BODY definition of marketing Marketing is defined as the actions which is undertake by organisation to promote business products and services and attract audience towards business through high quality message(Borgardt, 2019). The main objective of marketing is to deliver standalone value to prospects and customers through content that help business to strengthening brand loyalty, demonstrating product value and improve business sales. Marketing is the activity or process for creating, communicating, delivering as well as exchanging offerings that have separated value for business customers, partners, clients and society at large. Marketing is the sum of activities and actions that are involved in flow of organisational goods and services from producers to customers. Tesco uses marketing activities for promoting
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organisational products, attracting and influencing customers that enhances organisational sales and profitability ratio. Description of the role of marketing function Marketing is the broad term that is used by Tesco to attain higher sales and profitability through influencing customers towards organisational products and services. Marketing is the process of planning and executing conception, distribution of ideas, promotions of goods as well as creating exchange that satisfy individual and organisational objectives. Some functions of marketing and their role in business success are mentioned below: Identifying needs of customers:Marketing plays important role in identifying customers needs and demands that help business to produce products accordingly(Gotteland, Shock and Sarin, 2020). Marketing team of Tesco gather information regarding customers that enable business to influence customers through provide needed products. Finding best distribution channel:Major function of marketing is to identify and select best distribution channel through which business right products are reach to customers at right time. It plays important role in business through delivering products to customers and satisfy their needs and demands that retain them with organisation for longer period of time. Setting prices:Establishing appropriate prices of products and services in the most importantfunctionofmarketing.MarketingteamofTescotakespricingdecisionsafter conducting deep marketing research because profitability of business depends on suitable pricing. Conduct marketing research:Main function of marketing is to conduct market research for gathering information and data regarding target customers. It helps business develop products and service according to customers demands that lead business towards growth and success. Marketing function works and interacts with other departments Marketing is the department that involve in various operations such as promoting business products, access customers needs and influence their behaviour. Functions of marketing department are interrelated with other departments of organisation that help business to attain determined goals and objectives in efficient manner(Homburg, Theel, and Hohenberg, 2020). Interrelationbetweendifferentdepartmentoforganisationandmarketingdepartmentare mentioned below:
Marketing and finance:Interrelation between marketing and finance department help business to attain determined goals and objectives in efficient manner. Finance department develop budget for each department that enable them to perform operations in efficient manner. Marketing department needs funds to perform marketing operations and conducts marketing campaigns. Marketing and production:Marketing department of Tesco interlinked with production department because it provides important information related to customers needs, demands, preferences and market trends that help production department to produce products accordingly that satisfy customers(Klimanov, and Tretyak, 2019). Marketing and human resource:These departments are interrelated to each other because marketing department conduct advertisement for vacant positions and HR department help marketing department through appoint suitable candidate and provide then training so they can perform business operations in efficient manner. Extended marketing mix of Tesco Tesco is the leading retailing supermarket in the world. Marketing mix is defined as the set of various actions and tactics that are used by the organisation for the purpose of promoting products and services and attracting number of customers. Marketing mix included products, price, place, promotions and now organisations uses extended marketing mix that included several other P's such as people, physical evidence and process. Factors of marketing mix in the context of Tesco is mentioned below: Marketing MixTescoSainsbury ProductTescooffersvarietyof productsthatincludesfood, stationary,electronics, cosmetics,clothingand financialservices. Respective organisationprovidesthese products under its own brands suchasTescoLotus,Tesco Sainsbury provides wide range of products to customers like ready to eat meal and bakery products,organicfood products,homecollection range, furnishings and kitchen productsaswellasbasic financialservices. Respective
value and F&F Clothings that helpsbusinesstoreach potential customers and satisfy them through provide quality products and services. organisationfocuson innovationandquality managementthatimprove organisational brand loyalty. PricePricesaredefinedasthe monitoryvalueonwhich customersarereadyto purchaseproducts.Cost leadershipisthepricing strategyofTescothathelps business to maintain low price ofitsproductsandservices withoutcompromising products quality(Li, Larimo, and Leonidou, 2021). Pricing strategyenablebusinessto reducepricesthatattract number of customers towards business. Sainsburypricingstrategy dependson'thevalueof money' that enable business to retain customers. Organisation usescompetitivepricing strategyinsteadofprice cuttingpolicy.Organisation providesbasicandkids products at very low price with havingexcellentqualitythat provide value for money. PlaceTescoprovidesitsproducts andservicesthroughonline andofflinemodes. Organisation has 7000 offline stores around the world that are known as Tesco Express, TescoExtra,Tescocompact andvariousother.Online business of organisation is also termedasTescoDirect. On the other hand, Sainsbury hasmorethen500 supermarketsand700 conveniencestorethat provides regular services to its customers.Organisationalso provideshomedeliveryand online purchasing option that enhancesorganisational customer base. Sainsbury has
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Hence,organisationuses differentchannelstoreach customers. 13 regional distribution centres and2nationaldistribution centres. PromotionTescousestelevision, newspaper,advertisingand socialmediaplatformsto promote its outlets to attract andinfluencecustomers towardsbrand.Respective organisationalsobiggest spenderontraditional advertising that helps business to improve sales ratio. Sainsbury uses above the line and below the line promotional strategies for drag attention of customerstowardsbrand. Organisationusesbroadcast media line television and radio forpromotion(Nguyen,and Harrison,2019).Italso implementssalespromotion, databasemarketing,social mediachannelsand promotionalcampaignsto spreadawarenessregarding products. ProcessProcess is defined as the set of activities that are performed to achieve determined goals and objectives.Tescocreates standardisedprocessto accomplish specific task like processingcustomer'sorder. Tesco implements self-service machines to make payment. Sainsburystartsonline shopping for its customers that isveryconvenientand provides click and collection facility to customers. There are various changes in pricing and delivery process are done that enhance organisation customer loyalty. Physical evidencePhysicalevidenceincludes tangibleornon-tangible representationsofbusiness suchasfurniture,business Sainsbury has excellent store designs and layouts that helps business to address customers needsanddemands.
cards, menu, equipments and logos. Tesco has efficient logo thatdifferentiateorganisation fromothercompetitors.It helpscustomerstofind organisational products. There aredifferentonlinewebsites alsodevelopbyorganisation that are easy to operate. Organisation provides quality ofbasketsandtrolleysthat provideseffectiveshopping experience to customers. PeopleTescohasapproximately 4,20,000peoplewhoplays importantroleinattaining business determined goals and objectives(Oltarzhevskyi, 2019).Tescoinvesthuge moneyinprovidingtraining and development opportunities to employees. Tesco provides rewardstoemployeethat motivates them to retain with organisation. Sainsbury has trained experts and professional who perform operations efficiently to attain businessobjectives. Organisation provides training toemployeestotheycan perform business operations in efficient manner. An evaluation of how the marketing mix contributes to the success of the organisation in meeting their overall business objectives Marketing mix is defined as the framework that includes various marketing activities and actions that enable business to serve customers according to their needs and demands. Tesco provides variety of products to customers that help it to cover higher market share and attract number of customers towards brand. As respective organisation adopts cost leadership pricing strategy through which business provide quality products to customers at affordable price that enhance organisational customer base(THIS, 2020). Tesco provides its products through online
and offline modes that enable business to reach large customer base. Through using offline and social media platform business can spread awareness regarding organisational products and service in market that help to meet determined goals and objectives in efficient manner. Organisation uses standardised process that enable it to perform business operations in efficient manner.Tescoappointskilledemployeesandprovidethemtrainingthatenhancetheir contribution towards attaining business goals and objectives. Overall, implementation of efficient marketingmixstrategieshelpbusinesstoattractcustomersandaccomplishdetermined operations in efficient manner. Recommendations It is recommended to Tesco to develop long-term marketing plan with having clear goals and objectives as well as communicate it to all hierarchical level of organisation. It helps organisation to complete marketing objectives in efficient manner. Tesco should experiment, test and measure different marketing approaches to attain business goals and objectives in efficient manner. Organisation should enhance its investment in social media marketing because it improve organisational interaction with customers. It is recommended to Tesco to establish key marketing metrics that provide guidance to employees and lead their efforts in right direction(Wirtz, and Lovelock,2021). It is suggested to organisation to concentrate on ROI of marketing campaigns that help business to improve brand image and identity in specific market place. Tescoshouldestablishcross-departmentworkflowthathelpsbusinesstoimprove marketing operations. In the process of conducting marketing operations, it is important to keep all needs, demands and preferences of customers in mind that help to provide them better experience with organisation and retain for longer period of time. CONCLUSION As per the above report, it can be concluded that marketing is the essential thing that help business to attracts customers, identify their needs and demands as well as provide them products accordingly that retain them with organisation for longer period of time. Marketing helps business to attain whole organisational objectives in efficient manner through communicating products information to customers that attracts them towards brand. Marketing is the process of
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getting potential clients and bring customers efforts in business products for creating higher customer base and market share
REFERENCES Books and Journals Barzotto, M. and De Propris, L., 2019. Skill up: smart work, occupational mix and regional productivity.Journal of Economic Geography,19(5), pp.1049-1075. Borgardt, E., 2019. Extending Means-End Chain theory by integrating a self-concept approach and behavioural perspective model.Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie,979(1), pp.47-61. Gotteland, D., Shock, J. and Sarin, S., 2020. Strategic orientations, marketing proactivity and firm market performance.Industrial Marketing Management,91, pp.610-620. Homburg, C., Theel, M. and Hohenberg, S., 2020. Marketing excellence: nature, measurement, and investor valuations.Journal of Marketing,84(4), pp.1-22. Klimanov, D. and Tretyak, O., 2019. Linking business model research and marketing: new network-based approach to business model analysis.Journal of Business & Industrial Marketing. Li, F., Larimo, J. and Leonidou, L.C., 2021. Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda.Journal of the Academy of Marketing Science,49(1), pp.51-70. Nguyen, H. and Harrison, N., 2019. Leveraging customer knowledge to enhance process innovation: Moderating effects from market dynamics.Business Process Management Journal. Oltarzhevskyi,D.O.,2019.Typologyofcontemporarycorporatecommunication channels.Corporate Communications: An International Journal. THIS, T.M.I.L., 2020. Strategic Marketing Planning.Hashtags and Headlines: Marketing for School Leaders, p.29. Wirtz, J. and Lovelock, C., 2021.Services marketing: People, technology, strategy. World Scientific.
PART-2 Strategic marketing plan links with the overall organizational mission, corporate strategy and objectives Organizational mission:Mission of Tesco is to be champion for customers. Core purpose of organization is to serve Britain's shoppers a little better everyday. Mission statement of Tesco is 'We make what matters better, together.' Corporatestrategy:Tesco'scorporatestrategyistoexpandingbusinessintoa combination of acquisitions of new stores, retail services as well as adopt the needs of customers. Major aim of Tesco business model is to serve not the customers of UK but around the whole world. Objectives:Objective of Tesco is to provide groceries, electronic and clothing products and services to customers through online shopping. Aim of organization is to become leading retail supermarket through provide quality products. Strategic marketing plan is developed by the Tesco that involve clear goals, objectives, analyze internal and external business factors, implementation of planning and measuring the progress(Alshaikh, Maynard, and Ahmad, 2020). Respective organization develop business marketing strategic plan according to business objectives, proper implementation of plan helps business to attain determined mission and objectives on time with efficiency. Clear and SMART marketing objectives To enhance business sales by 20% To enhance organisational revenue by 15% To expand product portfolio to attract large customer value Marketing research to support the new product line launch Tesco launches organic fruits combo in stylish packaging in basket that attract number of customers towards organization. These organic fruits are reach in flavor and have value for customers. Respective organization conducts proper marketing research before taking decision to launch new food product line. Tesco gather qualitative and quantitative information regarding customer's needs, demands and preferences that enable business to gain higher market share and customer base.
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A situational analysis Marketing audit SWOT analysis: Strengths Tesco is the biggest grocery store in Britainthat has efficientnetwork of suppliers that help business to attain the objectives of profitability.Tesco covers higher market share of UK market and has existence in14 countries of Europe that make it strong brand. Weaknesses Weakoperationalperformancein certain stores is the weakness of Tesco. Due to weak performance organisation gain low profits. Profitability ratio of Tesco is getting affected due to high credit card debts. Tesco adopts low-cost technique that reduce organisational profitability. Opportunities Onlineshoppingshopsandhome delivery are the options that provide opportunitytobusinessthrough enhancing sales.Tesco partnering up with other brands attaintheobjectivesofgrowthand development. It helps business to come up with better products and services. Threats National economic crisis, government regulations and pandemic of Covid-19 createthreatfororganisational operations(Burhan, and Mansur, 2020). Competition is the biggest threat which is faced by the Tesco. Competitors such as Sainsbury, Aldi and various other impactbusinessperformanceand functionality. PESTLE analysis: Political factors:Tesco operates its operations at global level so, global political factors impacts business operations and performance. These factors includes stability of country, act and legislation and taxation rates. Organization consider these factors in policies and strategies. Economic factors:Economic factors are the main concern of Tesco as business cost, demand, profits and prices depends on it. Respective organization being aware regarding policies and regulations that help business to perform in efficient manner.
Social factors:Regular and rapid changes in societal norms, cultural factors and and consumer behaviors impacts business performance and functionality. Now these days, customers are more aware regarding health issues so business take business operations decisions more consciously. Technological factors:Advancement in technology being various opportunity for Tesco. Organization starts online shopping and home delivery that help business to higher market share and customer base. Along with that business uses self-service checkout pints that enhance customers shopping experience and provide competitive advantages to organization. Legal factors:Government policies and legislation impacts the performance level of Tesco(Heath and McKechnie, 2019). These rules and legislation are regularly changing so, respective organization align them with business operations that protect business from legal penalties and fines. Environmental factors:In current business environment, address environmental issues put great pressure in business. Tesco makes efforts towards reducing carbon footprints on environment and minimize waste production that lead it towards success. 5C analysis: It includes 5 key 'C's and each C represents a major elements that is related to business model. These elements are mentioned below:Company: Company consist product line, culture, goals as well as image in market. Major objective of this is to maintain better positioning of organization in market through meeting customers needs and demands. Tesco is the leading supermarket that provides quality products to its customers that develop its strong brand image.Collaboration:Collaborators can be people or business that help business to attain determined goals and objectives in efficient manner. Suppliers or distributors of Tesco that enable it to reach right products to customers at right time.Customers: Customers plays important role in business growth and success. It is important for Tesco to identify customers and satisfy their needs and demands for retaining them with organization for longer period of time(Heikkilä, 2020).Competitors:competitorsaretheorganizationthatprovidessimilarproductsand services in market. Tesco analyses competitors activities and strategies that enable
business to perform in efficient manner gain competitive advantages. Competitors of Tesco are Sainsbury, Aldi and others. Climate: In climate various external environmental factors are included that impacts business operations. Tesco analyses cultural trends, social changes, technological factors and various other in business strategies to run business in right direction. Competitor analysis Competitors analysis is related to determining organizational competitor's marketing strategies, market share, strengths, weaknesses, pricing strategies and culture as well as customer reviews.Itisstrategicmanagementthathelpbusinesstoanalyzecurrentandpotential competitors and provide both offensive and defensive strategy to identify opportunities and threats. Tesco faces competition from Sainsbury, Aldi and other brand. To face competition, it is important for Tesco to develop unique value proposition that differentiate brand from other competitors. Through analyze competitors strategy organization can develop its own strategy that provides competitive advantages to business(Holub,2021). There are several steps are followed by the Tesco in the process of analyzing the competitors such as defining the industry, determine competitors, determine the customers who are beneficial for organization, analyze key strengths of competitors, rank the key success factors through providing weighting than each competitors are rated on the bases of key success factors. Sub-segments STP model: Segmentation: Segmentation is defined as the dividing whole market into small segments of according to similar characteristics and other aspects. Tesco segments market on the bases of geographic (UK and other 13 countries), demographic ( all age categories, both male and female), behavioral (regular occasion, sceptical and positive attitude customer) and psycho- graphic aspects. Targeting: Targeting is defined as the selecting appropriate market segment that contains high growth potentiality. Tesco targets the segments that are most likely to generate desired conversion. It helps business to provide relative products to customers that enhances their loyalty level towards brand. Organization targets health conscious customers for its organic fruit combo.
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Positioning: Positioning is defined as the developing differentiated image in the minds of customers. Through provide quality products and services at affordable price, Tesco maintains strong and efficient positioning in specific market place. New product value-proposition A product value proposition is defined as the statement that articulate product's features, user as well as differentiation with considering customer's problems, wants and needs. As organization develop new product such as organic fruit combo so organization create product value-proposition in the eyes of customers(Hutt, and Speh, 2021). The process of value- proposition is mentioned below: Consumer profile Job to be done:Tesco analyse customers needs demands and preferences to develop products. In the context of food products customers demand id very high so organisation need to understand that and provide suitable product. Gains: It is defined as the positive buying behaviour of customers towards brand. Tesco launchesorganicfruitcombothatfulfilneedsanddemandsofhealthconscious customers.Pains: It is related to the component of customer experience that is annoying for customers. Time consuming customer service, late delivery and faulty items are some factors that create pains for customers. Value proposition Products and services:It concentrates on products and services that are offered by the organisation. Tesco provides organic fruit combo which delicious and rich in taste in its own label. Gaincreators:Homedeliveryandonlineshoppingaretheoptionsthatenhances organisations value-proposition in the eyes of customers. It attract customers towards organisation. Pain reviler: Tesco provides its new organic fruit combo at higher price that impacts on value-proposition of organisation in negative manner. Organisation has skilled and experienced employees who provide quality shopping experience to customers that is the pain reliever for organisation.
Development of the marketing strategies applied to the extended marketing mix There are various marketing strategies are applied by the Tesco in marketing mix. Respective organization uses cost-leadership strategy that enable business to provide products to customers at lower price. To promote organizational products, Tesco uses online and offline marketingstrategiesthathelpbusinesstoreachlargecustomerbase.Organizationuses standardized set of activities to perform operations in efficient manner. Marketing budget Particulars1styear2ndyear3rdyear4thyear Investment100001000060005000 Initial money10000500050005000 Total20000150001100010000 Marketing outlay 15000100030005000 Sales publicity 2000200010001000 Direct selling4000300010001000 Promotion4000100050002000 Total250007000100009000 Tactical actions Identifying appropriate control and monitoring measures Tesco uses different types of controlling and monitoring measures to evaluate business performance. Some matrices that are use by organization are mentioned below: Return on Marketing Investment (ROMI):It is defined as the performance measurement technique to determine the financial value attributable to specific set of marketing initiatives which is divided by marketing invested. It helps Tesco to control and predict future cash flow, improve effectiveness of marketing and build trust level. It enable business to review marketing budget,takeefficientmarketcampaigndecisionsandallocateappropriatefundsamong marketing activities.
Customer Lifetime Value (CLV):It represents future value of future cash flow or the value of business attributed to the customers during the entire relationship with organization. It is important metrics that help business to take efficient decisions regarding product development, sales, marketing and customer support. It helps Tesco to retain customers with organization through provide quality products and services. It is used by the organizational marketing managers at the time of acquiring customers. CLV should be greater then the cost of acquiring customers than it provide benefits to organization. Media budget A media budget Marketing activitiesExpenses (In Euros) Marketing research2500 Owned media (Blogs)2000 Video advertisement (You Tube)1500 Social media marketing ( Facebook)1000 Recruitment (Full-time)1500 Recommendations and rationale for selected and integrated multi-media activities Businessusesdifferenttypesofmediachannelsforthepurposeofpromoting organizational products and services in market. It helps business to attain determined marketing goals and objectives in efficient manner(Park, 2020). Tesco uses multi-media activities that provides competitive advantages to business. Recommendation of multi-media activities are explained below: It is suggested to Tesco to implement video advertising to promote business products and services. You-Tube is the platform which is used by the organizations. It facilitates business to influence customers more efficiently. Tesco should improve its investment on social media marketing because it help business to make connection with customers, understand their needs and demands and create high website traffic. Facebook is mostly used by Tesco.
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Appropriate digital, offline and social media channels for communicationDigital channelsare defined as the platforms in which organizational promotes their products and services through using internet. Tesco uses display marketing, search engine marketing and email marketing(Kaiyp, and Alimanova, 2020). Display marketing attracts large number of customers with the help of displaying information and quality of products.Offline channelsare the channels of communication such as television, advertisements, radio and pamphlets and print media. Television is the suitable platform that help business to cover higher market share. Social media channelsincludes various platform through which business promote its products and services such as Facebook, Snap chat, Whats app,YouTube and others. YouTube is the platform that is used by the Tesco because it has high followers. Multi-media plan based on quantitative and qualitative criteria Multi-media plan is defined as the marketing techniques that enable business to promote brad by using one or more media channels. Multi-media is related to different marketing platforms such as print media, television advertisement, social media and others to reach high number of customers. It helps business to attain qualitative and quantitative information related to customers that enable business to develop products accordingly. Organization develop multi- media plan on the bases of qualitative and quantitative information that is collected in marketing research.
REFERENCES Books and Journals Alshaikh, M., Maynard, S.B. and Ahmad, A., 2020, August. Security education, training, and awareness:Incorporatingasocialmarketingapproachforbehaviouralchange. InInternational Information Security Conference(pp. 81-95). Springer, Cham. Burhan,G.F.andMansur,A.,2020.MarketingStrategyPlanningBasedonCustomer Value.PROZIMA(Productivity,OptimizationandManufacturingSystem Engineering),4(2), pp.29-40. Heath, T. and McKechnie, S., 2019. Sustainability in marketing. InIncorporating Sustainability in Management Education(pp. 105-131). Palgrave Macmillan, Cham. Heikkilä, J., 2020. Creating a Marketing Plan for a Social Alarm Company. Holub,K.,2021.CompanyoperatinginaB2Bmarket:casestudyonmarketing communication(Doctoral dissertation). Hutt, M.D. and Speh, T.W., 2021.Business marketing management: B2B. South-Western, Cengage Learning. Kaiyp, K. and Alimanova, M., 2020. Improving indicators of digital marketing using artificial intelligence.SuleymanDemirelUniversityBulletin:NaturalandTechnical Sciences,52(1). Park, S., 2020.Marketing management(Vol. 3). Seohee Academy.