Marketing Essentials

Marketing Essentials

Table of Contents
Marketing Essentials........................................................................................................................1
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
P1 key roles and responsibilities of the marketing......................................................................3
P2 Roles and responsibilities of marketing relate to the wider organisational context...............4
LO2..................................................................................................................................................5
P3 Comparison of M&S and Tesco about application of 7 P's of marketing in their respective
organisation..................................................................................................................................5
LO3..................................................................................................................................................8
P4 Marketing Plan of M&S.........................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing which is an essential function of organisations is carried out for various
different interrelated purposes that eventually seeks to fulfil organisational objectives. Activities
undertaken in marketing starts before production and ends at after selling the product and giving
after sales services. These activities are production, packaging communication through
advertisements and giving exciting offerings to customers and providing after sale services.
Marketing is not a function that is concerned with only itself but affects other functions of
organisation as well. This projects include various important roles and responsibilities that come
under marketing and their relation with other organisational functions like production, sales,
finance etc. this project also analyses marketing functions of M&S which is a UK based
multinational retail organisation. Later report also addresses comparison of marketing mix in
different organisations. Along with that in which ways organisation can use marketing mix.
Lastly marketing plan have also been included in this report.
LO1
P1 key roles and responsibilities of the marketing
Marketing a set of various different but interrelated activities that is used to achieve
objectives of an organisation. This function includes various roles and responsibilities in M&S
which are:
Understanding needs of customers- most important and first role of marketing in organisation
is to understand needs and requirements of customers as organisations have become customer
oriented and provides products that are required to customers instead of selling what they are
making. Marketing in M&S plays important role and identify needs of customers and later
understand and then communicate this information to organisation so that they can produce
products as per customers requirements. To do this they use various mediums that can provide
information about customer requirements. Marketing has to ensure that company is producing
and selling products that are being required by customers this is important to survive and grow in
highly competitive market.
Monitoring competitors and identify trends in market- Other important responsibility of
marketing is to monitor trends in the market that are concerned with their product and
organisation and also to monitor competitors like Tesco and their moves and actions in order to
see what they are doing and what threats can there be to organisation from its competitors and
their activities and also where competitors are lacking and organisation can advantage of that.
This is important that M&S monitor trends otherwise company will continue working on its old
trends and once they become obsolete it will start loosing its customers as they are more
interested in buying products that can are in trend. It will affect its profitability and image at the
same tome and will require additional efforts to gain those customers back which has been
loosed.
Brand value and work- Brand value refers to feelings and ideas M&S wants to communicate
with its customers and prospective customers and in order to do that marketing is responsible
that they are able to communicate these values and ideas in a most effective manner that
customers can properly understand that helps company to build its brand image. Brand value is
very important to attract people towards products of a company it ensures that product and
services that are being provided by the company are qualitative and build a trust in customers
about company and its offerings.