Unit 2 Marketing Essentials Report: JYSK Marketing Plan Analysis

This report provides a comprehensive analysis of JYSK's marketing essentials. It begins with an introduction to marketing concepts and trends, specifically focusing on JYSK's strategies, including societal marketing. The report then delves into the key roles and responsibilities of marketing functions, such as brand management and customer relationship. It examines the interrelation of marketing with other organizational functions like HR, finance, IT, and R&D. Furthermore, the report highlights the significance of marketing functions and their impact on overall organizational performance. Section 2 presents a detailed marketing plan for JYSK, including an executive summary, objectives, segmentation, targeting, positioning, and a PESTLE analysis. The marketing mix, encompassing price and place strategies, is also discussed. The report concludes by summarizing the key findings and implications of the marketing strategies for JYSK.

MARKETING ESSENTIALS
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
SECTION 1......................................................................................................................................3
1. Marketing concept and trends of JYSK...................................................................................3
2. Key roles and responsibility of marketing function.................................................................3
3. Marketing function and its interrelation with other functions : -.............................................4
4. Significance of the marketing functions and how they interrelate with other organizational
function........................................................................................................................................5
SECTION 2......................................................................................................................................6
Marketing plan.............................................................................................................................6
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Marketing essential refer to the process of developing the marketing strategies and
working of the marketing functions in the business. Marketing essential are the advertisement,
publicity and the sales techniques which are considered in the marketing of the brand and its
product. JYSK is one of the organization which is working in to offer everyone with
Scandinavian within the sleeping and living. They work in the retail industry and are developing
the standard by there quality of services to the market. The report will explain the marketing
essentials and the marketing functions which impact the overall working of the organization. The
report will further explain the concept of the marketing strategy of the organization and its trends
in marketing strategy.
SECTION 1
1. Marketing concept and trends of JYSK
The marketing concept : Marketing concept includes the promotion and marketing of
the product and services the business is providing. It refers to the concept of working in the
marketing to increase the buying and selling of product and services in market. It help in
increasing the audience and market on a wider scale.
Societal Marketing concept : JYSK are following the societal marketing strategies in
the management which include the task to determine the customer wants, needs and there interest
of the target market. They focus on delivering the customer satisfaction in the more efficiently
and effectively then its competition in market (Dukoska, 2020).
The marketing trends include the different ways in which the company is developing
there ways to increase the performance and more of marketing awareness. The organization is
utilizing different strategies in the process of working, and they are using the latest trends of
market in the process of marketing including the chatbots, social media messaging app, video
marketing and influencer marketing etc. these are the process of marketing trends which are used
by the JYSK in there marketing strategy to increase the workforce at organization.
2. Key roles and responsibility of marketing function
Key Roles : -
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 The role of the marketing function is to define and managing of the brand in the market.
Which help audience to understand and get aware about the product and services the
organization offering in target market.
 Marketing function is to provide a great marketing of product and services. It includes the
promotion of product and services which the organization is providing (Pedersen, 2021).
 Monitoring of the marketing of brand and the social media marketing of the organization
so that the company can increase its working and develop the market in process to
achieve better results. It is crucial for them to develop the strategies to increase the
development of workforce and results.
Key Responsibilities: -
 Listening to customer needs : - it is the responsibility of the marketing function to
develop the strategies and listen to the customers need. It helps in understanding the
customer and develop strategies to increase productivity.
 Monitoring the competition:Monitoring the customer and the competitor is important
for the organization because it help them in increasing of quality services in market and
help in developing better strategies for market competitor to gain the sustainable
advantage (Bezuidenhout, 2017).
 Searching for new marketing tool : - Marketing responsibilities is to provide new tools
in a particular period of time so that the organization can develop more often results and
get better management at workplace to increase objective and goals by there
performance.
3. Marketing function and its interrelation with other functions : -
Marketing and HR : Marketing is connected with HR as they need to market the
vacancies and need to do the marketing of the job opening for the recruitment and selection
process. It is important for the HR to increase the marketing to get better applicants in the
business.
Marketing and finance : To do the marketing it is essential to have the desire finance
and the organization have made different segments of the marketing in the process of working in
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marketing function of business. Marketing and finance is closely linked and it is crucial for the
finance to provide the marketing budget to do the marketing of the business.
Marketing and IT : Marketing is done by the utilization of the information technologies.
The use of software and the digital use of marketing need to be done by the process of increased
performance and wider market (Vinerean, 2017). Good understanding between the two
department is important so that there is going to be good communication which is present in
JYSK.
Marketing and research development : marketing and research development is
interrelated because they work to find the research of the organizational working and works on
the development of the organization strategies in the process to increase the overall working in
the business. Marketing help in identification of the research development and allow business to
find the issues and needed requirement.
4. Significance of the marketing functions and how they interrelate with other organizational
function
Marketing is making sure that the changes are coming in JYSK from time to time so that
the company will be able to make sure that there are right actions which are coming up.
Feedbacks and other aspects are being taken by marketing department of the customers so that
there are effective ideas and planning which are going to be done. Research and development or
human resource department has to be strong so that the company is going to have better
functioning and improvement which is present for the organization to be able to find stability.
Internal working has to be strong which is going to make sure that there are right impact which is
going to be present for the overall working (Syam and Kaul, 2021). Good finance required as
well in marketing for the products and services which the company are coming up with so that
there are going to be effective measures which are implemented. All the departments are very
dependent on one another which is going to make the performance of the organization be
impacted positively and make the functioning of the organization be higher as well.
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SECTION 2
Marketing plan
Executive summary
JYSK is a retailing industry which is coming up with clothing line so that there is going
to be effective working so that the company will be able to expand and gain higher profitability.
it is important for the company to be able to expand themselves effectively so that the company
can have the right working and performance which is going to be good for the branding and
portfolio of the company.
Objectives
 To make the profit margins of JYSK to be increased by 50% by the end of 2024.
 To increase the customer base of the company by 35% by the end of 2022.
 To increase the brand recognition in the market by 40% by the end of 2025.
 To make the company expand in developing countries by the end of 2026.
Segmentation, targeting and positioning
 Segmentation
Base of JYSK has to be found out so that the company will be able to place their new
product and services effectively in the market which is going to be a great factor. The company
need to target the age group between 30 to 60 years which is a huge segment. Sex
discrimination can not be done so that the organization would be able to gain the right
competitive advantage in the market.
 Targeting
It is important to identify the attraction point which the company's clients want. JYSK
has a good reputation in the market because of its quality and services which the company is
having. It is important for the company to make sure that there are right actions and
improvement which are taking place (Kotler, Pfoertsch and Sponholz, 2020). Segment has to be
done of one or more segment which is going to make sure that there is going to be higher
operations.
 Positioning
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The market has to be selected well and the company positioning of the organization be
higher which is important. Developing an effective marketing mix is very important so that
there is going to be a good sense of direction which would be present for the company to have.
Position of the product in the market is going to make sure that there is effective working and
performance which is going to be present.
PESTLE
 Political factors
There is stability in the country of the political power which is going to make sure that
there is one sense of direction which is present for a long run. Not many changes are coming in
the company as well. Trades in developing countries is free and flexible which is a great
opportunity for JYSK to be able to get stability in the market as well.
 Economic factors
The income level of the population is increasing and the pricing of the products can be
done according to that or according to the clients. There is a requirement of a lot of investment
which is going to be required by JYSK to be able to get in this new product in the market
(Saeed and Rashidi, 2017). Employment in the countries is going to be higher as well which is
going to make the company be able to get in more customers which is good for the economic
stability for a long process.
 Social factors
Demands and needs of the customers are changing which has to be matched and
implemented in the company so that there is going to be higher brand image in the market. It is
because of the GDP improvement in the countries the lifestyle of people has changed as well
which has to be well maintained so that there is effective working and processing which is
present. Good distribution of working has to be present which is good for the reputation and
standards of the company so that there is going to be higher operations.
 Technological factors
To be able to match the standards and demands of the clients it is important to make
sure that there is effective understanding and productivity which is going to be present.
Technology is going to help JYSK to be able to operate effectively and match the increasing
rates of the customers and information and communication in the company is also going to be
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there so that the company will be able to develop themselves (Deepak and Jeyakumar, 2019).
 Legal factors
There are taxation and other employee and client laws and regulations which have to be
implemented and worked upon by the company to be able to gain the right functioning and
operations as well. health and safety factor for the clients and employees of the company are
very essential elements which must be focused upon so that the company will be bale to gain
the right attention.
 Environmental factors
There are a lot of eco-friendly actions which are being taken by the company to be able
to operate effectively and efficiently in the market. Zero carbon footprint and other factors like
sustainable resources are being implemented in the company so that the company will be able to
gain the attention of the clients.
Marketing Mix
 Price
There are a lot of discounts, offers and other factors which are going to be implemented
in company so that there is going to be effective working. Positioning of clothing sector of the
company has to be strong so that there is going to be good addition in the value of the company.
 Place
Channels of the company has to be done effectively and planned well so that there is
going to be good sales and trading which would take place. It is essential to make sure that there
are good placing so that the clients is going to approach the channel easily (Chaffey and Smith,
2017).
 Promotions
Good marketing communication has to be present by JYSK so that there would be
higher operations and standards which the company is going to have so that there is effective
working which is present. Direct marketing and branding of the organization has to be done
effectively so that the company is going to be able to have right sales and personal sales.
 Products
The quality of product has to be maintained so that there are going to be higher
operations and satisfaction of clients which would be there. Availability of the products and
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services has to be higher which is going to make sure that the company is being able to support
and make the customer services be higher. Warranties for the products and services has to be
present for the clients to gain the trust in the business.
 People
JYSK has to make sure that they are having good contact with the clients from time to
time so that they can improve accordingly. The employees have to be well trained and
developed with time so that the lifestyle and expectations of the clients are well matched.
 Physical evidence
Packaging of the products and services and the infrastructure of the stores and other
online websites and others has to be done well so that the satisfaction of the clients is going to
be higher (Singh and Singh, 2018). Online experience is also going to be included in it so that
the company would be able to gain the right attention.
 Process
Customer focus has to be there by JYSK to be able to work on the feedbacks and make
sure that there is going to be higher sales. Design features has to be there so that the company is
going to have higher operations and productivity which is going to be there.
Budget
Bases Amount
Assets £2,500
Technology £2,000
Supplies £500
Labour £1,000
Electricity £500
Total £6,500
Investment techniques
The company is going to opt for bank loans which is a very safe method to be used by
the organization to be able to have the right investment. It is important to have a good economic
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factor so that there is going to be higher operations and working which is going to be there.
Getting in a new product is important for satisfaction of the clients but there has to be effective
economic factor which has to be present as well which is good for the reputation of the
company.
Monitoring and controlling
It is important for the company to monitor and control the workforce of the company to
be able to have higher functioning and operations. 360 degree evaluation and benchmarking are
two effective methods which can be used by JYSK to be able to make sure that there are
effective working and performances which are going to be present (París, 2020). Effective
methods and strategies have to be used by the organization to be able to have the right working
and functioning so that the company will be able to make sure that there are right actions which
are being taken.
CONCLUSION
From the above report it can be concluded that it is essential for the organization to
provide the best marketing strategy to increase the working in the department of marketing and
its function. Marketing functions are interrelated to the other functions of the organization.
Marketing is related to the human resource as it provide the information in the market about the
vacancies the applicants can apply for. It is also connected to the finance as the organization
need the finance from the finance department to do that marketing of product and services in the
business. The report further concluded that marketing of organization helps in achieving a wider
audience which create a bigger market for the organization and allow attracting more audience
for the brand.
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REFERENCES
Books and Journals
Bezuidenhout, A., 2017. Essential marketing principles for Non-profit organisations: Views of
marketing managers(Doctoral dissertation, Stellenbosch: Stellenbosch University).
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Dukoska, A., 2020. THE MARKETING ORIENTATION OF THE FOOD
INDUSTRY. Knowledge International Journal. 40(6). pp.1101-1103.
Kotler, P., Pfoertsch, W. and Sponholz, U., 2020. H2H Marketing: The Genesis of Human-to-
Human Marketing. Springer Nature.
París, J.A., 2020. Adaptation versus standardization: from the essential marketing
paradigm. Retos. 10. p.20.
Pedersen, C.L., 2021. Empathy‐based marketing. Psychology & Marketing, 38(3). pp.470-480.
Saeed, K. and Rashidi, Z., 2017. Essential employability skills for marketing careers: gap
analysis of education and profession. Pakistan Business Review. 19(2). pp.302-319.
Singh, S.R. and Singh, B., 2018. Marketing possibilities of essential Oils-Opportunities and way
forward. Annals of Horticulture. 11(2). pp.150-155.
Syam, N. and Kaul, R., 2021. Machine Learning and Artificial Intelligence in Marketing and
Sales: Essential Reference for Practitioners and Data Scientists. Emerald Group
Publishing.
Vinerean, S., 2017. Importance of strategic social media marketing.Chaffey, D. and Smith, P.R.,
2017. Digital marketing excellence: planning, optimizing and integrating online
marketing. Taylor & Francis.
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