Higher National Diploma Business Management: Marketing Report Analysis

This report, prepared for a Higher National Diploma in Business Management, delves into the core concepts of marketing, encompassing both the marketing process and strategic planning. The initial section defines marketing in the 21st century, explores the role of marketing functions with Waitrose as a case study, and analyzes how marketing interacts with other departments. It then examines the extended marketing mix, assessing its contribution to organizational success and target achievement. The second part of the report focuses on marketing planning, including strategic marketing plans, SMART objectives, marketing research, and situational analysis utilizing SWOT, PESTLE, and competitor analysis. The report also covers value proposition formulation, marketing strategies, budget allocation, tactical actions, and control measures with metrics like ROMI and CLV. Furthermore, it suggests multi-media activities, communication channels, and provides justification for a multi-media plan based on quantitative and qualitative criteria. The report concludes with recommendations to enhance Waitrose's marketing effectiveness.

Higher National Diploma in Business
Management
Unit 2 Marketing Process & Planning
The Marketing Concept,
Functions and Mix (Part 1)
Marketing Planning (Part 2)
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ID:
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Table of Content
Part 1: Briefing Paper
Table of Contents
1.0 Introduction ....................................................................................................................................4
2.0 Explain the definition of marketing in the 21st century ..................................................................4
3.0 Describing the of role of marketing function with the help of examples from the chosen
organisation...........................................................................................................................................4
4.0 Analysing how the marketing function works and interacts with other departments of the
organisation .........................................................................................................................................5
5.0 An explanation of extended marketing mix by taking examples from selected supermarket.........6
2.0 Investigating how the marketing mix contributes to the overall success of organisation and
fulfilling their targets ............................................................................................................................8
3.0 Recommendations...........................................................................................................................9
9.0 Conclusions......................................................................................................................................9
..............................................................................................................................................................9
References...........................................................................................................................................10
............................................................................................................................................................10
Part 2: Marketing Plan.........................................................................................................................11
1.0 Explain strategic marketing plan and how it links with mission, corporate strategy and objectives
of the organization..............................................................................................................................11
2.0 Clear and SMART marketing objectives.........................................................................................11
3.0 Suitable marketing research to support the launch of new product line.......................................11
4.0 A situational analysis......................................................................................................................12
4.1 Marketing audit by using appropriate analytical tools including SWOT, Pestle and 5C analysis....12
4.2 A competitor analysis with the market segments .........................................................................13
Segments ............................................................................................................................................13
4.3 Sub-segments ...............................................................................................................................14
4.4 Formulation of value-proposition for the new product in the eyes of the customer....................14
4.5 Developing marketing strategies with extended marketing mix in relevance with new product
launch..................................................................................................................................................14
4.6 Set an overall marketing budget which also includes allocation of planned spend......................15
4.7 Tactical actions..............................................................................................................................15
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4.8 Interpret suitable control and monitoring measures in order to achieve objectives which includes
metrics to measure success such as Return on Marketing Investment (ROMI) and Customer Lifetime
Value (CLV)..........................................................................................................................................15
5.2 Provide suggestions and rationale for chosen multi-media activities in a set budget that meet the
marketing goals...................................................................................................................................16
5.3 Interpret the suitable digital, offline and social media channels of communication.....................17
5.6 Full justification for a multi-media plan based on quantitative and qualitative criteria.................17
References...........................................................................................................................................18
............................................................................................................................................................18
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1.0 Introduction
Marketing refers to all those activities which are undertaken to promote the
products and services of a firm (Rust, 2020). Marketing includes the actions which
are undertaken to attract the audience to company's product and services. The
purpose of marketing is to perform research and analyse the consumers, send out
surveys to their customers. Marketing helps organisation to aware people about their
products and services. Marketing planning refers to the process which includes
gathering strategies and techniques to achieve the marketing objectives of the
business. It is the process of defining activities which can support the goals and
establish a timeline for work completion in an organisation. Marketing planning
guides the team to achieve meaningful result which can support marketing initiatives
as well as the objectives of organisation.
The report includes the concept of marketing, its role and functions,
application of marketing mix to planning to achieve the overall objectives of the
organisation. To better understand the marketing function Waitrose is take into
consideration. Waitrose is one of the largest supermarket chain in UK.
2.0 Explain the definition of marketing in the 21st century
Marketing refers to the set of activities which are taken by the organisation to
promote their products and services among customer (Shah, Azhar and Bhutto,
2019). Marketing in 21st century refers to focusing on value addition and educating
customers through the use of digital platforms. Marketing in 21st century means
performing marketing functions with the help of digital technology in order to reach
more number of people. The organisation have adopted new techniques of
marketing with the help of digital technology. Waitrose have started its online store in
order to facilitate people to order their essentials at their doorstep. This strategy of
online business help the organisation to provide better facility to people at their
comfort zone and also increases the sales of the firm.
3.0 Describing the of role of marketing function with the
help of examples from the chosen organisation
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Marketing refers to planning and executing the strategies which are related to
pricing, promotion, distribution channels for goods and services. Marketing represent
the important components of marketing process which depicts what a marketer do
for the success of organisation (French, 2017). Waitrose have reached out to many
customers with the help of strategic marketing planning. The company can reform
the pricing policy in order to gain competitive advantage in the market. The
marketers of Waitrose make strategic plan to promote their products and services in
the market to build strong customers base. The marketing functions of Waitrose are
described below:
Pricing: Pricing is regarded as the most crucial step of marketing functions, it
is the basis for sale of any product and services. Deploying a good marketing
strategy helps the organisation to gain competitive advantage in the market. The
marketers of Waitrose keeps the prices of products high and focus on the people
with high income.
Promotion: Promotion is the process of spreading awareness among people
through various promotional activities. The channels of promotion includes offline
mode, digital communication and social media marketing. The marketers of Waitrose
use television, templates, advertisement, news papers etc. to promote their products.
These promotional activities help the organisation to build a good brand image
among customers.
Marketing information management: The data is used to form strategies for
marketing function. Collection of more information results in success of marketing
efforts. The marketers of Waitrose gather the market information and target market
in order to serve the customer group better. Collecting information helps the
organisation to develop introduce products and services according to the needs and
desires of the target market.
4.0 Analysing how the marketing function works and
interacts with other departments of the organisation
Marketing is the process of planning and executing pricing, promotion and
distribution of ideas to create exchanges which can satisfy individuals as well as
organisations (İpek, 2020). Marketing function is a role which helps an organisation
identify and promote those products which are potentially fit for the market place in
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which the firm operates. It is the most vital part of a firm which includes performing
market research, making marketing plan, market development, market penetration
and product development. An organisation consist of different departments working
and interacting with each other under it. The interaction between different
departments of Waitrose is described below:
Marketing and human resource department: The function of marketing
department is to formulate marketing strategies and implement them to get results
(Lahtinen, Dietrich and Rundle-Thiele, 2020). The human resource department hire
employees in the marketing department and provide them training and development.
The human resource department of Waitrose hire suitable employees at the suitable
places and provide them with proper training due to which their efficiency in work
increases. Due to increase in efficiency in work of employees the productivity of
organisation increases.
Marketing and finance: The marketing department need funds to perform all
the promotional activities in order to aware people about the products and services.
The finance department is responsible for providing funds to all departments. The
finance department of Waitrose will give sufficient funds to marketing department in
order to initiate all the activities related to marketing of products and services. The
proper allocation of funds to marketing division helps the department to achieve the
goals of organisation. A proper marketing strategy helps to reach more number of
people and attract them.
Marketing and Sales department: The marketing department is responsible for
developing the strategies to be used in the promotion of any product of the
organisation and Sales division is authorized to implement the plan(Mukonza and
Swarts, 2020). The marketers of Waitrose develop effective marketing strategies
with the help of sales team. The sales team implement the strategy of marketing and
launch the product. The effective strategy developed by the marketing team helps
the sales department to increase the revenue from sales.
5.0 An explanation of extended marketing mix by taking
examples from selected supermarket
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A marketing mix is a part of comprehensive market planning which is the
mixture of multiple areas of focus like product, price of commodity promotional
techniques (Zolotukhina and Et. Al., 2017). Marketing mix is the mixture of action
and techniques which are used by marketers of Waitrose to promote its products and
services. This process is all about providing right place to sell the product at the right
time and with right pricing strategy. The extended marketing mix components for
supermarkets is explained below:
Elements
of
marketing
mix
Waitrose Tesco
Product The product range of Waitrose is
wide which combines grocery
items bakery products, party
foods, fruits and vegetables, milk
product, toiletries, ready to cook
meals etc. Waitrose has
published these products its
website
The variety of products in Tesco is
the combination of food, clothing,
stationary, electronics, financial
services etc.
Price The prices of products at
Waitrose are higher than other
retail stores. The marketers of
Waitrose have adopted the price
matching strategy in which they
provide loyalty schemes and
offers in order to lower the prices.
The pricing strategy adopted by
Tesco is cost leadership. The
organisation works with its
suppliers in order to make a
efficient supply chain and also to
lower the prices.
place Waitrose constitute of 330 shops
all over UK. The organisation also
have online existence which
makes easy for customers to
access products of firm.
Tesco comprises of many store all
over UK,. It has created its
existence over online as well as
offline mode of business.
Promotion Waitrose constantly provides
discounts and offers at the store.
Its online website has a separate
section as offers which includes
all the new coupons and
discounts.
Tesco has strong brand image
which automatically make the
promotional strategies easy to
perform. The firm uses different
mode of promotion like
advertisement, media, newspaper
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etc. along with this they also
provides various offers and
discounts at the stores.
People Waitrose have well trained
employees working at their
stores. These employees are
service oriented and motivated to
provide services to customers.
Tesco has large number of
employees employed under it. The
organisation spends huge funds on
training and development of
employees which make them
efficient in delivering good services
to customers.
Process The online website of Waitrose as
become successful and increased
number of customers and sales
for the organisation.
Process is the Activities which are
being performed by the customers
at the Tesco store. At the store
customers choose their products go
to the counter for payment.
Physical
evidence
The stores of Waitrose are well
organised and developed. All
items at the store are easy to
access by the customers.
Tesco has a beautiful logo which is
made by use of efficient colours.
The products are arranged in
categories at the store which
makes them easy to access for the
customers.
2.0 Investigating how the marketing mix contributes to
the overall success of organisation and fulfilling their
targets
Marketing mix consist of all those tools and techniques which are use to reach
more number of customers and increase the sales of the organisation (Efanny and
Et. Al., 2018). A good marketing strategy helps an organisation to attract large
number of consumers. These strategies also help to retain the current customers of
the firm. The marketing mix of Waitrose helps their marketers to achieve their set
goals and targets. The marketers easily understands what can be offered to
customers through products and services. Marketing mix helps the marketers to
plan effective strategies of marketing and successful product offering (Hänninen,
Kwan and Mitronen, 2021). Marketing mix helps to make use of strength of Waitrose
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to avoid unnecessary cost. It helps to analyse the needs of customers and also
evaluate whether the product will be successful or not.
3.0 Recommendations
Marketing mix of Waitrose is suitable for the organisation to achieve its goals
and objectives. There are some more strategies which can be used by the marketers
of Waitrose which are being mentioned below:
 The marketers of Waitrose should decrease the price of product so all
customers intend to buy the commodities.
 The marketers of Waitrose can use influencing market techniques like making
attractive videos sharing it to social media so that more customers can know
about the offerings.
 The marketers can initiate attractive offers on products so that more
customers can be attracted.
9.0 Conclusions
From the above information, it has been asserted that marketing is the main
function of an organisation. Marketing in 21st century refers to use of digital
techniques along with traditional methods to promote the products of the
organisation. Marketing mix is the combination of all tools an techniques which are
used to reach out more numbers of customers. The components of marketing mix
includes products of organisation, pricing strategy, promotional techniques, place,
people involved in the firm, process of product formation and consumption and
physical evidence for product.
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References
Books and Journal:
Rust, R. T., 2020. Outside-in marketing: Why, when and how?. Industrial Marketing
Management. 89. pp.102-104.
Shah, S. A., Azhar, S. M. and Bhutto, N. A., 2019. Halal marketing: a marketing
strategy perspective. Journal of Islamic Marketing.
French, J., 2017. The importance of segmentation in social marketing strategy.
In Segmentation in social marketing (pp. 25-40). Springer, Singapore.
İpek, İ., 2020. The relevance of international marketing strategy to emerging-market
exporting firms: from a systematic review towards a conceptual
framework. International Marketing Review.
Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix.
Testing the effectiveness of the commercial marketing mix in a social
marketing context. Journal of Social Marketing.
Mukonza, C. and Swarts, I., 2020. The influence of green marketing strategies on
business performance and corporate image in the retail sector. Business
strategy and the Environment. 29(3). pp.838-845.
Zolotukhina, E.B. and Et. Al., 2017. Sales management of the chain retail
establishments. International Journal of Applied Business and Economic
Research. 15(11). pp.19-27.
Efanny, W. and Et. Al., 2018. The relationship between marketing mix and retailer-
perceived brand equity. IMP Journal.
Hänninen, M., Kwan, S. K. and Mitronen, L., 2021. From the store to omnichannel
retail: looking back over three decades of research. The International Review
of Retail, Distribution and Consumer Research. 31(1). pp.1-35.
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Part 2: Marketing Plan
1.0 Explain strategic marketing plan and how it links with
mission, corporate strategy and objectives of the
organization.
Strategic marketing plan is described as the method which involves making a
specific plan to reach the marketing goals and objectives (Caliskan, Özen and
Ozturkoglu, 2020). The marketers of Waitrose develop marketing plan to increase
the dividends. The steps in strategic marketing plan includes identifying the goals,
developing the steps to reach the target, assigning the tasks to individuals and
determining the success of this effort. The marketers of Waitrose use strategic
marketing planning to achieve competitive advantage in the market.
2.0 Clear and SMART marketing objectives
The clear and SMART objectives in context to Waitrose are mentioned below:
 The company sees its sales increase by 10% in 6 months through adding new
product range.
 The marketers of Waitrose tend to conduct marketing campaigns to boost the
organizational reputation among people.
 The firm tend to aware people through email and text messaging about the
new product launch.
3.0 Suitable marketing research to support the launch of
new product line
The products which are known to market but new to the certain industry
organization is known as new product line or range (Facchini, 2017). Organizations
develop and introduce new products in order to survive or increase brand image
among customers. The new product line which can be introduced by marketers of
Waitrose is Baby clothing accessories. There is a lot of demand for baby clothing
accessories which can create a good image of the firm among customers. The
marketers will analyse the needs and desires of the customers and accordingly
introduce the new product. The marketers will introduce the baby clothing
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accessories online only to test the demand for products. The marketers can also ask
for feedback from the customers to know their opinions about the new products.
4.0 A situational analysis
4.1 Marketing audit by using appropriate analytical tools
including SWOT, Pestle and 5C analysis
A marketing audit is the structured analysis of marketing environment of an
organization (Gayduk and Et. Al., 2020). The strategies, principles,, goals and
objectives of organization are being covered under marketing audit. These areas are
analyzed in order to recognize the obstacles, spotting the opportunities and
recommending the action which can be taken to fulfill needs of business. The
analytical tool in context to Waitrose to determine the marketing audit of situational
analysis is given below:
SWOT Analysis:
Strength
It has the royal warrant to provide
groceries to the royal family of UK which
increases its brand reputation.
The advertising efforts of the
organisation are more popular among
people.
Weakness
It has to face lot of competition which
creates price wars.
There was a social media counter back
due to publication of article in magazine.
Opportunity
The white based packaging of essential
goods is successful.
The organisation can introduce
community matters campaign in order to
perform mouth publicity.
Threat
It is lagging behind the competition
locally as well as globally.
The poor economic condition of UK can
impact the business.
5C analysis:
5C analysis is a tool which is used to perform the situational analysis, It
involves the factors such as micro and macro environment which can have impact on
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