Unit 2 Marketing Essentials

This report discusses the key roles and responsibilities of marketing function in an organization. It also compares the marketing mix elements of Marks and Spencer and Zara to achieve business objectives.

Unit 2 Marketing Essentials

Table of Contents
Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
P1 Discuss key roles and responsibilities of marketing function................................................1
P2 Roles and responsibilities of marketing in the context of organisation..................................4
P3 Comparison of marketing mix elements so as to achieve business objectives.......................5
P4 Marketing plan of a chosen organisation................................................................................8
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing is the process of interaction between two parties such as buyers and sellers which
create exchange among them in return for money (Baker and Magnini, 2016). In other words, it
is regarded as an essential ingredient in a modern era which aims to satisfy the needs and wants
of customers. This report is based on Marks and Spencer which is well known brand in UK. This
provide wide range of products or services such as accessories, clothing and other home
essentials and also it has expanded its operation across worldwide. This report comprises of
various roles and responsibilities of marketing function and the interrelation of marketing with
another department is also included. This report covers several elements of marketing mix such
as product, price, place and promotion which assist the firm in taking an appropriate decision. At
last, marketing plan of respective firm is also included in this report.
P1 Discuss key roles and responsibilities of marketing function
Marketing is better understood as the process of planning and executing the pricing,
promotion, as well as distribution of goods and services, ideas so as to meet the requirements of
individual and organisational objectives (Baker and Saren, 2016). In other words, it is the
process of satisfying the needs and wants of customers and providing merchandise or services in
accordance of their demand and also it assists the firm to generate more sales and thus increasing
the profitability. Marketing is a broader term that includes brand, promotion, segmentation and
many more which are used in day to day activities in today’s era. There are several philosophies
and concept of marketing which differ from each other as it plays a significant role in a business
enterprise. In the context of Marks and Spencer, the same is presented as follows:
Production concept: This emphasise on producing more and more merchandise that
could be easily available to consumers as it has been said that, “Supply make its own demand”.
This assist the firm to enjoy greater economy of scale and as it decreases the cost of production
which in turn maximise the sales in a marketplace. This concept work where there is more
demand than the supply as it would grab more customers from different locations.
Marketing concept: This ensure marketer to provide product or service in such a manner
so as to satisfy the needs and expectations of customers (Buratti and et.al., 2016). This also
involve several elements such as product, price, place and promotion which customer look for as
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these are necessary elements of marketing mix. Also, it is a process of designing business
activities and services to the present and potential customers which develop greater interest.
Selling concept: This strategy emphasises on selling more and more goods through
various mode such as sales promotion, public relations, advertising and creative attractive
punches and slogan that persuade customers to buy the product, the manager of company
emphasises on boosting the sales and maximizing the revenue which ensure greater revenue.
Societal concept: This focus on well being of society and promote the welfare for society
by meeting the expectations of customers. The firm aims to provide new and innovative products
to the clients which improve the quality of life and thus increase their standard of living. In
addition to this, firm also emphasise on providing bonus, compensation benefits and other
financial incentives to their employees which in turn generate high job satisfaction and thus
improve the standard of living in a society.
Product concept: in today’s modern era, customers greater focus on quality as less
sensitive towards the prices (Chaffey, 2019). This possess several characteristics such as
durability, reliability, nature of merchandise and many more. The are several changes in a
product that are taking place due to dynamic environment which provide a way to firm to gain
competitive position and also provide multiple streams of revenue.
Roles and responsibilities of marketing function are prescribed as below:
There are several needs and wants of which could be identified through interaction
directly with consumers, market research and understanding the nature of competitors. There are
several departments working in an organisation such as human resource, marketing, finance and
many more as each are assigned with different roles and responsibilities. With reference to
Marks and Spencer, same is presented as follows:
Brand management: This is one of the significant aspects as it involves several measures
such as logo, colour design, scheme, attractive layout and many more. The manager of Marks
and Spencer has attractive store layout and brand logo which help customers to easily identify
the company and product specifications. Also, this increase the sale and profitability within the
confines of retailing industry.
Formulating strategies: This involve proper planning and organising of work so as to
avoid duplication of activities (Festa and et.al., 2016). The marketing manager of Marks and
Spencer prepare an appropriate planning and ensure proper division of work among the
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subordinates in accordance to specialisation which ensure greater efficiency and productivity in a
business entity.
Conducting market research: This involve proper research by identifying the
opportunities and threats available in the market and provide assistance to marketers to
determine the customer needs, perception, their liking and disliking and many more. In relation
to Marks and Spencer, the manager would produce such goods and services by conducting
research and development which in turn boost the sales and revenue.
Identify the competitors: The overall competitiveness of firm can be improved with the
help of market research which determine the nature of competitors with their strength present in
the market (Hill, O'Sullivan and Whitehead, 2017). the manager of Marks and Spencer use new
and advanced technology that help in conducting fast operations of business so as to gain
sustainable competitive advantage across the globe.
Merchandise design and development: Changes ae taken at a fast pace so it is essential
for the firm to meet with such environment. As the manager of firm undertake various changes in
their product specifications and emphasise to deliver fast and effective services which in turn
gain maximum customer satisfaction. Also, new and attractive products gain large access of
customers and it accelerates the sales and profitability in a marketplace.
Role and responsibility of marketing function in relevance to marketing environment
The role and responsibility of marketing with reference to Marks and Spencer are given
beneath:
Towards public: The responsibility is to provide an enormous job opportunity in various
fields of marketing such as sales manager, brand manager, product design manager and many
more. As this improve the overall standard of living and also improve the quality of life.
Towards suppliers: The manager of Marks and Spencer purchase raw materials in bulk
from the vendors of excellent quality which ensure maximum satisfaction as they build strong
distribution of network with suppliers so that their requirement of products could be fulfilled
(Hill, 2017).
Towards competitors: there are giant number of players of Marks and Spencer which
provide same type of products in a market. so, the respective firm aims to provide unique
offerings so as to gain large customer base and also their fast and efficient services win the hearts
of customers.
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Towards customers: Customer are most priority when product is sold to them and also
the design team make products in accordance to their taste and preferences which boost the sales
and productivity within the retailing industry.
Towards government: The manager of Marks and Spencer deposit taxes in a proper time
and also provide true financial statements and balance sheet which ensure greater transparency
and accountability in a marketplace. Also, this develop positive reputation of the concerned firm
in the eyes of government and public.
P2 Roles and responsibilities of marketing in the context of organisation
There are different department working in an organisation such as human resource,
finance, research and development and many more. Marketing is considered as the main
ingredient that is taken place at every organisation and it also emphasise on fulfilling the
requirements and demands of potential customers (Hollensen, 2019). Developing a best
marketing plan is necessary as it help in accomplishment of business objectives in a respective
time period. Proper division of work and assigning appropriate duties in case of marketing
facilitate proper coordination and cooperation and aids in smooth conduct of activities. In the
context of Marks and Spencer, the interrelation of marketing with other departments are
presented as follows:
Marketing and operation management: The role of operation management is to
manufacture product or service depending upon market demand as it involves several operations
such as warehousing, packaging, and its distribution at several places after the goods are ready
for consumption. The manager ensures that products are of good quality and are delivered at
proper time in proper place. The marketing department combine with production department in
order to make sure that the volume of goods demanded by marketer must be met within
scheduled time period. The marketing manager of Marks and Spencer ensure that there is no
error or defect of items and also provide proper health and safety measures to the people working
in production department.
Marketing and finance: The role of finance manager is crucial as it determine the
availability of funds and prepare cash flows, financial statements, balance sheet which depict a
true financial position and also make sure that there is optimum usage of funds in right place at a
right time (Koo, Kim and Kim, 2016). In the context of Marks and Spencer, finance is regarded
as the life blood of business while marketing is considered as the backbone of entity and the
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former prepare budgets which help latter in making proper planning regarding investment in
promotion, research and development and the role of marketing is to determine the overall sales
volume of business.
Marketing and research and development: the role of research and development is to
conduct market research such as determine the wants of customer, collect information regarding
competitors, identify latest trends and demand and supply etc. The research and development
provide information to marketing team of Marks and Spencer so as to produce goods accordingly
and meet the current expectations of customers across the globe (Stern and Porr, 2017). This
provide a sustainable competitive advantage as the respective firm would implement current and
latest trends of customer which in turn ensure maximum satisfaction.
Marketing and Human resource: The main role of human resource is a wide in
organisation as it covers several functions such as performance management, recruitment and
selection, performance appraisal, training and development and lots more which facilitate
smooth conduct of activities. In the context of Marks and Spencer, the HR integrate with
marketing as it provides several ideas and meet targets for making new products or services and
also the marketing considers the opinions and suggestions of human resource which render vast
growth and thus increase the productivity in an effective and efficient manner. In addition to this,
the HR manager provide training to their subordinates so as to inculcate confidence and
determination among them.
Marketing and Information technology: In a modern economy, IT plays a significant
role in an organisation as it helps in fast recording of transactions in an effective and efficient
manner (Melchiorre and Johnson, 2017). With reference to Marks and Spencer, the role of
marketing integrated with information technology as the latter provide information regarding
new and sophisticated technology to the marketing team so as to conduct fast operations of
business and handle the complaints of customers via online platforms which build the trust of
customer towards the brand and also digital platform provide great and ease of convenience
among the large group of individuals across the globe.
P3 Comparison of marketing mix elements so as to achieve business objectives
Marketing Mix is a most important component of marketing as it ensures proper
accomplishment of goal in a respective time period and assist the firm in making an appropriate
decision (Mishra and Modi, 2016). As every element are interrelated towards each other. Also, it
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provides assistance to a firm to accept changes in a dynamic environment by looking towards the
opportunities and threats. The goal of Marks and Spencer is to provide excellent offerings among
their potential users which in turn ensure maximum satisfaction.
The marketing mix of Marks and Spencer and Zara is presented as follows:
Basis Definition Marks and Spencer Zara
Product It can be defined as a
unit or article which
create exchange and is
sold in the form of
finished goods in
return for money to
consumers.
Marks and Spencer
are well known brand
that provide wide
range of offerings
such as bags,
handbags, clothing,
footwear and many
more to men, women
and children.
Zara is a luxurious
brand that deal with
range of products
such as clothes, bags,
footwear and many
more as it create
product differentiation
which create a distinct
and unique images in
the minds of
customers.
Price It is amount of money
that is offered to
customers as it is
decided on the basis
of characteristics such
as product quality,
reliability and
durability etc..
The pricing strategy
adopted by the
respective firm is
competitive pricing
and also implement
dynamic pricing
strategy as old stock is
cleared on sale in
comparison to new
products.
The respective firm
follows premium
pricing strategy as it
emphasise more on
quality than on prices.
Place It emphasises on
delivering the goods
or services at the right
time in a right place
as it involves storage,
It is one of the
renowned brand that
has around more than
850 stores in UK and
also has expanded its
Zara has around 6800
stores running in
almost 88 countries
and its strong relation
with suppliers provide
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warehousing, location
and transportation.
operation in other
parts of country like
Ireland, Hungary,
Finland and many
more.
them to gain
sustainable
competitive advantage
across the globe.
Promotion This is defined as the
mode of
communication in
which marketers
present product or
services in such a
manner through
personal selling, sales
promotion which
influence buyers to
purchase the product.
There are several
promotional methods
adopted by firm such
as Print media like
newspapers,
television, online
platforms and many
more that persuade
customers to but the
products as it ensures
quality specifications.
Zara spend large
amount on
advertisements and it
promote its product
through social media
platforms like
Facebook, Instagram
and words of mouth
also generate
maximum sales.
Process It involves the method
that consider series of
activities in a
production process
and also ensure proper
conduct of activities
in a predetermined
manner.
There are proper
systematic activities
followed in an
organisation as first
floor are divided on
basis of sections such
kids, women and men
that provide easily
availability of
products.
Zara focus on
providing excellent
offerings that gain
large access of
customers and also it
is divided into sub
sections which
provide greater
transparency.
Physical evidence The appearance of
goods or services can
be seen or felt that
grab the attention of
customer through
The respective form
owes more than
10,000 stores across
the worldwide and
83000 employees.
Zara emphasise to sell
its product in different
colour patterns with
excellent packaging
and also it provide
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several ways such as
visual merchandising,
layout and many
more.
They also provide a
large range of
merchandise such as
flowers, clothes and
other home
appliances.
clear visibility of
product with high
quality images on
online platforms that
provide greater
convenience to large
group of individuals
at a global level.
People This involve
employees working in
an organisation who
are responsible for
delivering services or
handling
manufacturing
activities that ensure
future growth.
The respective firm
provide several
benefits to its staff
such as health
insurance, life
insurance and provide
health and safety
measures so as to
retain them for a long
period of time.
The employees of
Zara are highly
trained and also they
are friendly nature
which make shopping
experience delightful
for customers.
Tactics used by Marks and Spencer:
The respective firm emphasise more on providing new and innovative products to their
customers which ensure greater satisfaction and also it deliver fast and efficient services across
the worldwide. The firm implement competitive pricing strategy in a market place as it sell
products at low cost as compared to its competitors which boost the sales and increase the
profitability within the confines of retailing industry.
P4 Marketing plan of a chosen organisation
It is a written document that allow firm to prepare an appropriate strategy regarding the
accomplishment of business objectives within a short period of time (Nirschl and Steinberg,
2018). The marketing plan of Marks and Spencer is presented as follows:
Overview of company: Marks and Spencer are a multi national company that is founded
by Michael Marks Thomas Spencer in 1884 that deal with range of merchandise such as
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clothing, accessories and other home appliances. Also, the firm is rendering its services across
the worldwide and also it emphasises on gaining maximum customer satisfaction across the
globe (Payne, Frow and Eggert, 2017). The respective firm is planning to launch an organic
perfume for different segments such as men, women and youngsters.
Executive summary: In today’s modern era, this is highly demanded by individuals so
the reputed firm plan to launch such organic perfume that does not contain chemical and also this
would be provided at reasonable cost so as to gain maximum exposure and boost the sales within
the marketplace.
Vision: the vision is to deliver excellent quality offerings that adds value to the customers
and also generate a strong brand name across the globe.
Mission: The mission of respective firm is to ensure quality specifications by providing
wide range of offerings and adds greater value to customers.
SMART objectives
 To increase sales by 10% within six months so as to improve the productivity and
profitability.
 To improve communication skills within two months so as to avoid confusions and
misunderstandings.
 To provide training and development to employees for two months so as to increase their
knowledge base and skills which in turn increase the efficiency.
Swot analysis:
Strength Weakness
 Marks and Spencer are one of the
renowned brands in UK and its
organic perfume at reasonable would
increase the market share.
 Its strong relation with suppliers and
strong financial position would
enhance the brand image and thus
boost the sales and productivity in the
retailing industry.
 The respective firm focus on selling
newly launched product on a
reasonable price which reduce the
overall profit margin.
 There are several outlets or branches
but lack of sale of such product like
organic perfume reduce the overall
performance.
Opportunities Threats
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 Although, the respective firm is
planning to launch new product
which provide greater opportunity
especially to younger generation to
purchase the organic perfume.
 Marks and Spencer provide sale of
organic perfume on online platforms
that provide an ease of convenience to
large group of individuals across the
globe.
 There are giant number of players of
Marks and Spencer such as Zara,
John Lewis and many more which
possess the big threat for the
company.
 Also, the increase in price wars due
to emerging competitors would
possess a threat for Marks and
Spencer as it would decrease the
prices and thus decline the profit
margin.
STP approaches:
Segmentation This involve dividing the market on the basis
of similar characteristics in full significant
aspects (Perreault, 2018). The manager of
Marks and Spencer create product
differentiation by launching organic
perfumes and this would gain maximum
exposure.
Targeting This involve targeting a particular group of
customers. The respective firm emphasise
targeting majorly on younger generations as
this product is going to mostly like by them
and also its low cost strategy also persuade
them to buy the product.
Positioning Marks and Spencer are well established
brand and its packaging and visual
merchandising of organic perfume would
attract large group of individuals due to its
distinct brand image at a global level.
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Tactics: In the context of Marks and Spencer, several tactics are presented as follows:
Product Marks and Spencer is planning to launch
organic perfumes and along with this it deal
with range of items such as clothing, footwear
and so on.
Price The company would adopt competitive pricing
strategy and emphasise on selling offerings at
low cost so as to gain competitive
advancement (Rowley, 2016).
Place The respective firm provide its products at its
respective stores and its websites which gain
large access of customers.
Promotion Marks and Spencer would use several
promotional strategies such as online
platforms, mouth of words, print media in
order to persuade customers to buy the product.
Budget Estimation:
Particulars 1st year 2nd year 3rd year 4th year
Initial
money
10000 5000 5000 5000
Investment 10000 10000 6000 5000
Total 20000 15000 11000 10000
Marketing
outlay
15000 1000 3000 5000
Promotion 4000 1000 5000 2000
Sales
publicity
2000 2000 1000 1000
Direct
selling
4000 3000 1000 1000
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Total 25000 7000 10000 9000
From the above budget, it has been determined that the initial outlay in first year incurred
by Marks and spencer is 10000£ and in final year, it declines by 5000£. The total promotional
effort by firm is 25000£ in first year and then in fourth year it reaches to 9000£. It is concluded
that in fourth year there is reduction in expenditure and overall cost of company.
CONCLUSION
From the above information, it can be summarised that marketing play a significant role
in an organisation as it helps in accomplishment of target in a short span of time. It has been
analysed that there are different roles and responsibilities of marketing functions and
interrelation of marketing with other department is done as it is the essential ingredient for every
business enterprise. Various elements of marketing mix and a marketing plan is determined so as
to achieve a significant position across the globe.
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REFERENCES
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Hill, L., O'Sullivan, C., O'Sullivan, T. and Whitehead, B., 2017. Creative arts marketing.
Routledge.
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Nirschl, M. and Steinberg, L., 2018. Einstieg in das Influencer Marketing. Springer Fachmedien
Wiesbaden.
Payne, A., Frow, P. and Eggert, A., 2017. The customer value proposition: evolution,
development, and application in marketing. Journal of the Academy of Marketing
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Perreault, W.D., 2018. Essentials of marketing. New York: Mc Graw Hill.
Rowley, J., 2016. Information marketing. Routledge.
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