Marketing Report: Argos Company's Marketing Mix and Strategic Plan

This report provides a comprehensive analysis of Argos' marketing strategies. It begins by defining marketing and its role within an organization, specifically focusing on how marketing interrelates with other functional units like HR and R&D. The report then delves into the roles and responsibilities of the marketing function within Argos, including branding, market awareness, and market research. A significant portion of the report compares Argos' marketing mix (7Ps) with that of Robert Dyas, highlighting their product offerings, pricing strategies, promotional activities, place, process, people, and physical evidence. Finally, the report touches upon the development and evaluation of a basic marketing plan for Argos, providing insights into how the company achieves its overall business objectives and maintains a competitive edge in the retail industry. The analysis emphasizes the importance of understanding consumer behavior and adapting marketing strategies to meet evolving market demands.

Marketing Essentials
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LO1 Explain the role of marketing and how it interrelates with other functional units of an
organisation............................................................................................................................3
LO2 Compare the ways in which organisations use elements of the marketing mix (7Ps) to
achieve overall business objectives........................................................................................6
LO3 Develop and evaluate a basic marketing plan................................................................9
REFERENCES..............................................................................................................................13
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INTRODUCTION
Marketing is termed as a process within which businesses engaged in the process of
promotion and selling of products as well as services in order to satisfy needs of consumers and
generate higher profitability from them (Varadarajan, 2020). For this process organisation
effectively take advantage of different type of advertisement measures and market research as to
influence consumer buying behaviour. Marketing mainly aims towards increasing company
revenue and profitability in marketplace. Due to the advancement of technology, large number of
organisations is making consumers aware about their services and products with the help of
advanced marketing channels it also enhances their profitability at a great extent.
Present report has been conducted on Argos company is engaged in retail industrial
sector and acts as British catalogue in market place of United Kingdom. Organisation is
satisfying customers with their high quality of products and services. In order to generate
maximum number of consumer attention companies taking advantage of effective advertisement
process. Present report significantly influences marketing roles as well as responsibilities.
Further interrelation between different operational units of an organisation is being discussed in
this report. Lastly, Argos marketing mix and marketing plan is being covered in present report
LO1 Explain the role of marketing and how it interrelates with other functional units of an
organisation
In order to reach to maximum number customers and making them aware about company
existing services and products wide range of approaches as well as process is considered by
organisation (Dizdarevic, Evanschitzky and Backhaus, 2020). Marketing acts as a crucial
element through which an entity can significantly enhance their profitability and sales. Thus, by
considering different marketing practices into Argos can assure ultimate success.
Roles and responsibilities of marketing function
In the process of marketing there are different type of roles and responsibility that has
been undertaken by organisation marketing team in order to strengthen their marketing
performance efficiency (Chernev, 2020). However in order to assure accurate success it is
important for a company to formulate strong relationship with their stakeholders, employees and
consumers. As per the analysis is being evaluated that different type of responsibilities and roles
is being undertaken by Argos that mainly aimed towards serving customers with best while
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assuring long-term success retail industry. There is some certain form of roles and
responsibilities are elaborated in terms with Argos:
Branding:
An efficient branding leads an organisation to assure their strong marketing presence and
attractiveness of their services, products and entity in respective market segment. Branding is a
process through which entity can retain their consumers for long time period and can effectively
influence their purchasing behaviour. In addition to this has been evaluated that branding also
allow organisation to maximize consumer loyalty (THIS, T.M.I.L., 2020). This makes Argos
marketing team to effectively perform this role and assure strong relationship or emotional
connection with consumers. This has been evaluated that Argos offer their customers with high
quality services and products that is effectively communicated by marketing team to consumers
in attractive manner by various advertisement modes. Through the process of branding
marketing team of Argos aim towards increasing consumer loyalty and attention towards
company. Marketing team developed trust for the relationship between customers and
organisation that plays major role in profitability generation of company.
Creation of market awareness:
This is an essential role that enhances market presence of an organisation. In this process
organisation engage in creating and developing awareness with consumer mind-set related to
products and services which is being offered by organisation. In context with Argos this has been
evaluated that organisation marketing team effectively perform their role of creation of
marketing awareness by taking advantage of different in marketing measures. In this company
marketing team of Argos on the initial basis evaluate consumer’s needs and demands and further
take advantage of different measures to satisfy their needs accordingly. For effective success of
this process Argos marketing team develop different marketing strategies in order to assure
higher financial stability and long-term success of company.
Market research:
This is an essential marketing role that plays crucial aspect for any organisation that leads
them to serve consumers according to their preferences and taste. With the help of effective
marketing research organisation can identify recent trends and consumer expectations through
which the can further assure higher sales and profitability (Adebayo and Govender, 2020). In
terms with Argos it has been evaluated that marketing team of company effectively engage in
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marketing research process through which they understand actual requirements and demands of
consumers according to their age, income and preferences (Jindal, Chintagunta and Dhar, 2020).
This process effectively maximizes growth and development opportunities for company through
which they assure high success and profitability. With the help of in-depth marketing research
demands of customers gets evaluated in time effective manner. This benefits Argos to effectively
satisfy their needs, it increases consumer loyalty towards company that enhances entity brand
image in marketplace.
Interrelation with other functional units
Marketing process enhances company revenue generation capability as in this
organisation can undertake different type of marketing modes through which they can maximize
their sales in effective manner (Gikonyo, 2020). By taking advantage of different marketing
techniques and tools an organisation an attract consumer mind set towards their product and
services. With the help of strong marketing operations entity can significantly enhance their
profitability ratio and can further become market leader. It has been evaluated that Argos is a
leading organisation and conduct their business operations with having headquartered in United
Kingdom and Ireland and also have their franchise in other countries like China. Thus, in order
to co-ordinate their roles and responsibility it is essential for entity to have strong into
relationship among different unit in order to sure higher sales and growth.
HR with Marketing:
Human Resource Department engage in the process of hiring and recruiting talented and
skilled candidates in order to fill different vacant job positions in various organisational units.
HR department mainly aim towards strengthening workforce efficiency of company in order to
increase company performance in respective industrial sector (Donndelinger and Ferguson,
2020). There is different type of activities that Argos HR manager undertakes place such as
recruitment, selection, development and training of employees in order to effectively manage
diversity as to enhance productivity entity. While in terms of marketing this unit is having
responsibility to influence consumer mind set towards company product and services in order to
generate higher sales and profitability. Both of these units perform their operations with effective
coordination as HR unit serves marketing with high talented employees that increase marketing
performance. While in terms of marketing it enhances Argos brand image in retail sector that
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enhances more candidates to apply for the job role which increases HR performance efficiency.
This interrelationship significantly maximizes our goes long-term sustainability.
Marketing with R&D:
Research and development department engaged in the process of in-depth research of
identifying latest trends, consumer mind-set and market preferences that facilitate company to
produce products and services accordingly for higher success (HR and Aithal, 2020). While if it
is talked about marketing this unit authorised with the role of enhancing company brand presence
in marketplace through which more customers get attracted towards company offerings. In terms
with Argos that R&D and marketing it has been evaluated that both units effectively conduct
their operations with strong interrelation, as R&D department serves marketing unit with the
information related to consumer that increases marketing efficiency as it facilitate marketing to
attract customers accordingly. While marketing department benefit R&D with the information of
the area in which R&D can conduct their research process and can gather effective data and
information, it increases overall profitability of company.
As per according to the above mentioned discussion this has been identified that Argos is
having strong interrelationship in their departmental units that enhances growth opportunity for
entity. In addition to this inter-relationship lead company to maximize their profitability, sales
market presence and long-term sustainability in retail sector.
LO2 Compare the ways in which organisations use elements of the marketing mix (7Ps) to
achieve overall business objectives
Marketing mix states as a process within which an organisation offer their product and
services in marketplace by emphasizing upon different elements like product, price, place and
promotion in order to ensure successful outcomes. With the help of this process organisation can
satisfy their customers in effective manner. All these elements allow entity to have consumer
centric approach that further ensures higher success. There is marketing mix of Argos being
defined below which is compared with Robert Dyas. Marketing mix allows entity to take
advantage of different type of strategies that further facilitate organisation towards more
sustainable business operations, long term benefits and flexibility. In addition to this this analysis
also helps in maximizing performance of workers at great extent.
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Element ARGOS ROBERT DYAS
Product Argos provides different type of
services and products to their
customers and mainly engaged in the
business of things related to furniture,
insurance, refrigerator and more.
Entity also have catalogues
According to the evaluation, this has
been determined that Robert Dyas offer
wide range of services and products in
marketplace. Some main products of
company include kitchen, gardening,
travel and security, laundry and more
within provinces of England.
Price Main emphasize of Argos is upon
strategy related to low prices in order
to have maximum number of
consumers in order to maximise their
sales ratio. It has been evaluated that
respective entity takes use of different
pricing range in order to serve
customers according to their income
groups.
This has been evaluated that Robert
Dyas take use of affordable price
strategy in order to assure that they
satisfy all income group of customers.
Promotion In order to attract large number of
customers Argos effectively emphasise
upon this element. For this company
take advantage of social media
platforms, digital media marketing,
online banner and more.
Robert Dyas take advantage of both
online and offline advertisement modes
as to assure that company is having
efficient promotion process in order to
gain more competitive advancements
entity (Brahmbhatt, 2020). However
entity mainly focus upon television,
newspaper etc. in order to
communicate customers about entity
offerings.
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Place Argos conducts their business
operations via both offline and online
mode in order to target large base of
customers. Entity is operating their
business with more than 900 stores in
United kingdom and Ireland.
Robert Dyas. on the other hand assure
that their services and products have
easy access in all parts of England in
South East, further it has been
identified that organisation offer 24/7
assistance to their customers.
Process Management team of Argos make sure
that all the business operations are
being conducted with the help of
highly advanced processes. However
for this they assure that all the
processes are simpler and comfortable
that can be easily performed by
employees (HR and Aithal, 2020).
This makes entity to provide their
consumer with online booking facility
and fast delivery services.
Management of Robert Dyas
effectively ensure that consumers get
satisfied with company higher quality
services as well as product. For this
entity conduct the research process in
efficient manner to identify their needs.
People Being a leading organisation Argos
aim towards satisfying their customers
at best. For this the conduct their
business with 30000 more than
employees. However in order to
maximize their work efficiency
company regularly provide their
employees with training and
development courses.
Management of Robert Dyas provides
equal opportunities for female and
male staff further. It has been evaluated
that company specially have 11%
reservation for female employees. This
state’s company positive efforts to
make equal working standards that
facilitate growth for all workers
irrespective of their gender.
Physical
Evidence
Respective company developed the
catalogues through which approximate
Robert Dyas. main objective is related
to assure that offerings of organisation
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75% of household services to
individual by which physical evidence
get effectively balanced.
are supplied effectively to potential set
of consumers and also supply chain is
efficiently balanced in this process.
As per according to the evaluation of all the elements of marketing mix marketing manager
of Argos can formulate efficient marketing strategies through which they can assure satisfaction
of large number of consumers while serving their needs accordingly (Sample and et. al., 2020).
In addition to this it has been evaluated that Argos marketing manager by focusing upon all the
elements of marketing mix can develop direct communication with target consumer through
which they can develop strong brand image in retail market, this also lead entity towards higher
growth and sustainable development.
LO3 Develop and evaluate a basic marketing plan
Marketing plan is a written document that includes systematic process of planning through
which organisation can conduct their activities in effective manner while assuring
accomplishment in time effective manner. Marketing plan facilitate Argos to make sure that all
the function is been conducted in systematic way through which entity can further assure higher
success (Calzada, 2020). According to the evaluation it has been identified that Argos does not
engage in the process of selling services and products under their name instead of the catalogue
services and other that get associated with that. In order to enhance company share holding and
brand image Argos is looking forward to launch a new service under their name “ARGOS
Robotic Furniture”.
Overview of the organisation:
Argos is a multinational organisation and has its headquarters in United Kingdom. Company
is operating their business operations as Sainsbury subsidiary and are performing their roles and
responsibilities in both offline and online medium.
Current organisational offerings:
Argos is serving their customers with a wide range of services as well as products such as
customer good, furniture, electronics equipments, health care items, skin care, sports item etc.
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Overview of the New Product:
Argos in order to maximize their sales and profitability is launching a new product a robotic
furniture through which they will satisfy their customers with advanced technology, it is mainly
smart furniture that can be used by customers even in small spaces.
(Source: Self Generated)
Vision:
Argos most important vision is related “to be the world of mouth for the public of all across
the globe”.
Mission:
Main mission of Argos by offering their new Robotic furniture is market is to become retail
market leader and serve customers in higher level of satisfaction.
Objectives:
Argos main objective is related to launch their new product and “increase company overall
profit rate by 25% in next 7 months.
SWOT analysis:
SWOT analysis is being undertaken by Argos in order to evaluate their strength,
weaknesses, threats and opportunities as to gain overall success.
Strengths Weaknesses
Argos has a strong brand image in
marketplace. In addition to this company
Major weakness of Argos is that, they
provided the catalogue only under their brand
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satisfying their customers with skills and
talented workers.
name while the other sold products and
services are not under their brand name.
Opportunities Threats
Company is having wide scale opportunity in
which they can offer products and services
under their own name and can enhance their
market presence in an effective manner.
Argos is facing major threat from aggressive
competition in marketplace from other rivals
like IKEA, Habitat, B&Q and others.
STP:
STP framework is being undertaken by Argos marketing manager as to have effective
evaluation of their new product Robotic Furniture in order to offer them effectively to customer.
Element Description
Segmentation Marketing manager of Argos undertaken demographic for Robotic furniture
segmentation.
Targeting Marketing manager has targeted both luxurious as well as middle class
individuals for Robotic Furniture for higher sales.
Positioning In order to effectively position their new Robotic Furniture Argos manager
takes use of different channels like multimedia marketing, newspaper and
more. For this they aim towards attracting large number of customers.
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Budget / Action Plan: ARGOS has formulated the budget which is outlined below
Evaluation of Action Plan:
In order to assure success of marketing plan marketing manager of respective
organisation conduct proper evaluation of plan on regular basis.
Monitoring:
Marketing manager of Argos undertake effective monitoring of marketing plan with the
help of KPI through which they monitor performance of employees with the help of
benchmarking. With this process company am towards successfully launching the new robotic
furniture with higher profitability.
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