Marketing Essentials: Roles, Responsibilities, and Strategies
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This article discusses the key roles and responsibilities of marketing functions, their relation to the organizational context, and how organizations apply marketing mix to achieve objectives. It also provides a marketing plan for Marks and Spencer.
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Marketing Essentials
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 Key Roles and Responsibilities of the marketing functions........................................................3 Roles and responsibilities of marketing related to organisational context..................................5 Comparing ways in which organisations apply marketing mix to the marketing planning process to achieve objectives.......................................................................................................7 Marketing plan for the organisation.............................................................................................9 CONCLUSION..............................................................................................................................12 REFERENCES................................................................................................................................1
INTRODUCTION Marketing is the process through which goods and services are sold in the market. Marketing essentials are publicity, advertising and selling. It includes identifying right customer, design products or services which are in demand deliver them and make profit. Marks and Spenser is a multinational retailer in London. It deals in home products, clothing and food products. It is founded by Michael Marks and Thomas Spencer in 1884. Listed on London Stock Exchange and provide online service for food delivery. This report will discuss about roles and responsibilities of marketing function. Further it will evaluate that how this will relate to wider organisational context and will also compare ways in which different organisations apply marketing mix to the marketing planning process to achieve objectives. This study will also produce a marketing plan for organisation. Key Roles and Responsibilities of the marketing functions. Marketing functions dealswith the buying and selling of goods and services for satisfying customer’s need. Marketing functions are as follows- Listening to customer needs-It is very important to know that what your clients need. Marks and Spencer take customer’s feedback, to know that what is customer needed. Company do surveys and take help from customer support team so that better marketing strategies can be made. They also use social media to know about current market situations. Satisfying customer’s needs-To satisfy the needs of the customer is the very important marketing function. Company should research and come out with such products and services which satisfy customer’s need and can give value for the money (Sarkum, Pramuka and Suroso, 2017). Making Profits-Marketing functions suggest that company should come up with new ways to sell the products in the market. It says that not only provides value added products to the customer but also increase sales of the organisation. Marks and Spencer also made different strategies which helps to achieve corporate goals and increase its market share. Monitor Competition-Focusing on competitors are also required. Company should also learn from their competitor, what they are doing, why they are doing and find out their mistakes so that they will not make any mistakes in the future. Sometimes only by observing competitors,
can make you learn many things. Marks and Spenser focus on healthy competition and do not believe in any unethical marketing practice. Managing brand values-A brand is the representation of the company. The department of the marketing is responsible for creating good brand image. Company also conduct marketing campaign to promote products and services of the company. They should proper maintain company’s website because website is the reflection of the company, for seeking information people visits website only. So, it should be timely updated and website should come first when anyone search for similar business (Gnizy and Shoham, 2018). New marketing tools-Company should search for helpful marketing tools should be updated about new strategies, trends or digital tools that coming in the market. Marks and spencer have digital marketing tools which include content creation, email marketing, landing pages etc. Such analytical tools are also created, which collect feedback from the customer, track project etc. Innovation-To bring innovative products in the market company should do research. Company should have Rn D department which can come up with timely innovation. Innovation can also be done by changing in packaging, design, colour etc. Company should also try in different segment so that they can also generate revenue from new business. They should also identify target areas for new products and with the marketing tactics should increase demand for new product by telling about the product, its benefit, uses etc. Communicate with the other departments of company-Proper communication should be there between all the departments of the company. Lack of communication can lead to confusion among the organisation and project failure (Martensen and Mouritsen, 2017). If production and other departments are working good but marketing department are not working up to the mark than it can lead to entire company fail and the efforts of other departments will also go waste. If company want to achieve the goal than systematic communication should be there. Improved customer services-Quality customer service should provide by the company because it is the good services only which can bring customer back. The departments which are having direct contact with the customers should work on empathy (Obih and Baiyegunhi, 2018). Managing marketing budgets-Marketing department should work on marketing budgets. Planning should be made for next year’s budget. As marketing activities require investment so management should wisely choose that in which marketing type they should invest money whether in traditional or in modern marketing method.
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Making strategic marketing plans-Long term strategies should be planned which are cost effective also. While making strategy every aspect should be considered like company’s profile, competition, target market etc. Product management:it is the very important marketing function. It is to be done in the proper way because on this success of the organization is dependent. Roles and responsibilities of marketing related to organisational context The focus of Marks and Spenser is to come with good marketing strategy so that they can achieve goals and control over the market. Interrelationship between other functional units of an organisation can contribute towards development, which are- Marketing and Finance department:Marketing department should work along with the finance department so that marketing department should have information about the budget available with the department for research, distribution, promotion and advertisement. Company’s finance department have all idea that how much budget is allotted to which department and ensure that every department working with the budget allotted to them. Cost related information should also be provided by the finance department to the marketing department through which marketing activities can be carried. Marketing department focus on sales and building on company’s market share whereas finance department focus on cash flow, costs, debts, investments, balance sheets etc. Current financial position of the company should be known by marketing department so that they can make their budget accordingly. Marketingandoperation/productiondepartment:Productiondepartmentandmarketing department should also work together to achieve the objectives. Both departments work together to know about the fashion or trends running in the market. Research and development should be done to know about the customer needs which include current or future needs, so that it can be satisfied. Production department make new products and do related operations (Harmeling and et.al., 2017). Production and manufacture should be done regarding demand of the customer about the quality and specifications. Orders which arise through marketing should be met with the scheduled time. Marketing department work with the deadline, which can increase pressure on production department. Company wishes that products should earliest reach to the market so that competitive advantage can be taken. Production department want to develop such products where there will be no chances for repair or replacement for defective items from the market by meeting all safety and health requirements (Iványi and Bíró-Szigeti 2019).
Marketing and Human Resource Management:It is the work of HRM to make sure that appropriate staffing is appointed by them, which help to achieve company’s objective and to appoint the right person for the right job. Such employees should be appointed which can help in research and development to develop new products, which can achieve targets given by the company and employees who create ambitious sales teams. Man power is the blood for any company, which can lead to the growth or failure of the company. Effective employees are required in every department of the company for the smooth functioning. Human Resource also work for employee welfare. Marks and Spencer’s HR team ensures that all the vacancies are filled timely and right person should join the marketing team. HR also ensures that proper training and development should be provided to every employee so that they can deal with the current market situations. HR department also provide feedback for employee’s performance by evaluating their performance and by target achieved by them. Marketing and IT department:Clear communication should be there between marketing and IT department. IT is very important department of the organisation. Advancement in the new technology and the pressure of the digitalisation is forcing company to invest more money into IT and development. Some company even have IT departments separate for every other department. For digital marketing IT plays a vital role such as developing websites and ecommerce, data analysis, enhancing products, data development etc. Marks and Spencer also taking advantage of current market and actively working on digital marketing to attain the objective (Roach and et.al., 2018). Marketing and customer service department:Marketing and customer service is inter-related with each other. Both work together to check that customers are satisfied or not. Customer service department provide feedback to the marketing department so that new products can be developed.Boththedepartmentsbuildpositivecustomerrelationship.Customerservice department also help marketing department to increase sales and retain customers. Marketing and research and development department:Marketing department tells research and development department about customer’s preferences, market trends, opportunities and threats and marketing departments are dependent on R&D for new products and innovation, from which profit can be made. Innovation is required by company for long time survival and to increase sales and revenue. Innovative products are highly demanded by the customers.
Marketing and purchasing department:marketing department help the purchasing department in the process of purchasing. Marketing team directly deal with the customers, so they know their preferences, so they guide purchasing team accordingly that what raw material they should purchase and what kind of product is in the demand. Comparing ways in which organisations apply marketing mix to the marketing planning process to achieve objectives. TESCO’S marketing mix is compared with Marks and Spencer. Marketing managers use marketing mix to analyse the current market situation. Using 7 P’s for that- 7 P’sMarks and SpencerTesco ProductProducts and services available are clothing, home décor, M&S bank, M&S energy, food etc It has wide range of products which includes clothing, electronics, food, financial services etc and is also available online. It is also providing home delivery services. PriceMarks and Spencer focus on competitive pricing strategy and on dynamic pricing strategy (Išoraitė, 2016). Company give seasonal discounts on their products to attract more customers and also do sale for old stock. Tesco focus on low pricing strategy without compromising on quality or making loss to the company. They also introduced club card from which customer can earn points and get eligibility for discounts in future. PlaceBeing an international brand having more than 1000 stores in 50 countries. UK is the business hub for the company. Customer can also buy its Its stores are present worldwide. Having offline and online channels of distribution. It has different types of stores namely Tesco express, Tesco
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products online from its website, company also provide international delivery option. metro, Tesco superstore etc and in online it operates with its website. PromotionsThis company uses digital marketing in their promotions. And also uses Tv ads, print media, mobile ads and social media. Own website is used for promotion of the brand by writing blogs and providing fashion tips and attractive discounts. For promotion it uses television for ads, gives discounts and coupons etc (Abril and Rodriguez- Cánovas, 2016). It does advertisement focusing on its low price. Also attract customers by giving different offers. Company using social media platforms for the promotion by posting daily on these. PeopleCompany is having employee around 83000. They give attention to the employees and provide timely training. To retain employees company have the payment policy. Also appreciate employee’s performance by giving them rewards. Company give insurance benefits to their employees. They also introduce new female policies. Tesco believe that its employees are the main reason for its success. They came up with colleague privilege card, to give benefit to their employees. Company having flexible working hours (Blut, Teller and Floh, 2018). They also provide health insurance to all the employees and started development program for new trainees. ProcessMarks and Spenser stores can be found on streets, malls having separate sections for furniture, home décor, Tesco focus on fast billing services to the customers and easy to find product offline or online. Company achieve this
clothing, cosmetics, gifts etc (Wu and Li, 2018). For men, women and kids have different sub sections with separate checkout counters for that. by employing productive staff who give attention on the customers and also solve their queries. Physical EvidenceCompany do its major business in UK. Stores and brand are the physical evidence of the company including its products and services offered by them. Company have its website where customer can buy products. Its stores are its physical evidence which are clean and attractive, where products are easy to find. Attractive offers are their which attract customers to buy more. Company’s website is also simple to use. Both companies have a variety of products and each of them had adopted different pricing strategy. They are using different process. Their promotional activities are same they both are using social media for the promotion more because they know the importance of social media that it is cheap and time saving method. They both provide training to their employees. Marketing plan for the organisation Mission-Marks and Spencer Mission are to make inspirational quality accessible to others. Vision-Marks and Spencer vision is to be the standard against which others are measured- Benchmarking. Objectives- To increase the market share by 15% in a year. To increase the number of customers by 10%.To increase number of sales in 6 months. Product and service description-Marks and Spenser should add new clothing store in the Belfast city. Belfast is growing rapidly, by introducing new store in the growing city will benefit company very much. With the increasing competition in the market company have to come up with as many stores as possible, so that they will serve more customers and will
also satisfy the needs of them. Providing quality products is the main motive of the company, so company should never sacrifice on quality. For this, company can also use social media platforms for marketing of the new store. Situational Analysis-Explained by using SWOT and PESTLE SWOT Strengths:Its biggest strength is that, it will satisfy need of the customers of Belfast by covering all the target audience. Their unique selling strategy which they have will benefit to this store also. Company’s profitability will increase and their good distribution channels will also add advantage which will give high sales(Datta, Ailawadi and Van Heerde, 2017). Weaknesses:It will increase more expenses like rent, salaries etc. Company have to sell product at break even or loss to attract more customers towards store. Opportunities:New store will come up with some of the built-in opportunities. Marks and spencer have easy checkout option which will bring more customers to the new store. Company can also focus on their online business to meet the competition. Threats:Shift inthe marketrequirementcanbe the threat.Openingof newstoresby competitors. Shortage of workers in the store. Changes in the technology and fashion are another threat. Sometimes drastic change in the market will cause problem in meeting the challenge. PESTLE Political factor:Government around the globe have regulation which should be followed by the company, which can have for the standards of cleanliness, transporting process etc. Labour laws are also strict, company have to provide minimum wages which is decided by the government. Economic factor:This factor directly affects the business(Chernev, 2020). If the economy will decrease then income will decrease and also the purchasing power of people. People will buy less and also eat less outside. Social factor:Marks and Spencer are the established brand; it is not the new brand for people. Consumers are health conscious nowadays so company should come up with more healthy options. Technological factor:Company should have proper machine and equipment for new product. This can increase the cost but will also increase the revenue. Marks and Spenser should have
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installed self-service checkout system in every store this will decrease manpower. Company should also start delivering products online(Wood and Jobber, 2016). Legal Factor:Government ensures that proper safety standards are maintained by the company. If government rules are not followed properly than they charge high penalties. Environmental factor:This factor also affects business of Marks and Spencer like tourism, agriculture etc. It further includes weather, climate changes, and geography. Marketing Strategy- It is explained by using 7 P’s of marketing mix Product-The store which is launched by the company is very unique in UK and will add to the number of stores of the company. It has different interior and designs. Different products are demanded by the customers, if company fulfils demand than can beat competition. Price-Adding new store in the store chain will add cost to the company but will give more revenue also. Company should continue using competitive pricing strategy to achieve company’s objective. Coupons and discounts should also provide by the company which will attract customers towards the new store. Place-Company Introduce new store which have verities of clothing items. Promotion- Company focus more on traditional method of promotions like print media, TV ads but with the change in market company should more focus on new methods of promotion like advertisement on social media platforms by posting ads, writing blogs, mobile ads etc. People-People are very important for any business. Proper training should be provided to each and every employee by the company(Tipu, 2019). They also have rewards and insurance policies for their workers. Process-To give quality service right process is very important. Company have good process for the supply chain. Physical evidence- Physical evidence is related to customer satisfaction. If the surrounding or the store is clean than customer will buy more. Financial Plan-It is the process to determine the capital required and also determine the competition. Its financial plan- ParticularsCosts Survey50 Pounds Rent800 Pounds Interior décor1000 Pounds
Equipment & Technology550 Pounds Licencing fees150 Pounds Advertisement200 Pounds Business Insurance Inventory 350 Pounds 900 Pounds Total4000 Pounds Return on investment will be achieved in 2 years and objectives of the company will also achieve very soon because company had made solid financial plan by covering all the aspects. Proper survey is done which is the biggest strength but rent is more which can be the weakness as more money will go in that. Innovative technology is used which will help in achieving the objectives fast. Advertisement is done using the latest advertising method like using social media. Successkeyperformanceindicator-Itdependsoncompany’sgoal.Itisexplainedby considering these parameters which are- Sales: Estimated sales of the company of new store are 5%which is more sales than from their older stores because the store is big in size and in the main market of the city. Profit of the company depends on its sales. Customer satisfaction: To satisfy the customers is the most important thing. So, the measure of the success is the customer satisfaction. Cost efficiency: It can be calculated by applying some financial ratios. This will help company to reduce the financial risk (Marketing Essentials, 2017). Goals: The success of the new store can be seen if it is helping to achieve company’s goal or not. CONCLUSION Through this report it can be concluded that proper marketing plan is very essential for Marks and Spencer. It is the largest retailer in UK which attracts customer by providing quality products and good services. Also discussed about roles and responsibilities of marketing function and how it is related to other departments of the organisation. Company also have many strategies through which they will increase share in the market which helps in achieving company’s goal. Marketing mix are evaluated and a business plan is made.
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