Marketing Essentials Report: Strategies, Analysis, and Recommendations

This report delves into the core concepts of marketing, emphasizing the importance of a robust marketing strategy for business sustainability. It analyzes various marketing approaches, including production, sales, and market orientation, highlighting the significance of understanding consumer needs. The report outlines key responsibilities of marketing managers, such as pricing, promotion, and distribution, and explores the 7Ps of marketing. It also examines the integration of marketing with other functional departments like operations, finance, R&D, and IT, emphasizing the role of technology in modern marketing. Furthermore, the report presents a case study of Wilkinson, providing insights into practical applications of marketing strategies and recommendations for achieving higher market share and sustainable development.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1.................................................................................................................................................1
P2.................................................................................................................................................4
M1...............................................................................................................................................5
M2...............................................................................................................................................6
D1................................................................................................................................................7
TASK 2............................................................................................................................................8
P3.................................................................................................................................................8
M3.............................................................................................................................................10
TASK 3..........................................................................................................................................11
P4 has already done...................................................................................................................11
M4.............................................................................................................................................11
D2..............................................................................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
For any company, there is a need to have sound marketing strategy in order to promote
their product in an effective manner so that the business can get the sustainability. However,
there are certain ways by which company's product or service marketing can be done. There are
certain ways that can be used by the firm. Under this report, marketing of Wilkinson is rendered
so that the they can provide marketing of their product or services in an effective manner
(Ogunmokun and Tang, 2012). There is a need to know about the various marketing strategies so
that the business can get the competitive advantages. Under this report, marketing officers key
responsibilities are identified in the proposed structures so that no chaos can be created. 7Ps' are
also defined under this report.
TASK 1
P1
Marketing is an essential task in an organization as this makes the firm to grab the
opportunities from the outside people. Marketing also assist the company for making effective
strategies so that the company's product can be sold in a larger extent. Various strategies are
adopted by the marketing managers in order to promote their product so effectively so that the
firm could get the competitive advantage over the rivals (Linoff and Berry, 2011).
Marketing concept is the one which is used to get the firms goals and objectives in order
to know the needs and wants of the target markets and also renders the satisfied results to the
company in terms of sales. The main aim of the marketing concept is that it is used for achieving
the firm’s objectives, there is always requirement of the firm to know the wants of the consumers
so fast than their rivals (Jones and Rowley, 2011).
Production oriented: the aim of the firm is not only the needs of the consumers but also
limiting the cost of the consumers by producing units at a large extent. At the time of mass
production, the firm will make their profits in an optimum manner (Nguyen and Simkin, 2012).
Sales Oriented: the main aim of the firm is to produce the goods and then sold them in
the marketplace (Functions of marketing, 2017). This is fundamentally the push concept of
marketing aimed at selling manufactured goods and generates profits, without knowing the needs
of the consumers.
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Market Orientation: the market is based on placing the consumer centre of attraction.
Each firm wants to know about the needs of the consumers with the help of implementing
various processes and make the goods in order to satisfy their needs. In the firm, entire activities
are roaming around the customers. That is why he is the ultimate king of the business.
In this cut throat competition, each firm puts their customers at the heart of operation
which is strategically essential. However, few of the firm does not follow the market orientation
concept.
Apart from this concept, there are diverse concept such as societal concept, product concept,
branding concept etc.
American Marketing Association gives various definitions about the marketing in
different times. In 2004, As per the American Marketing Association, this has been seen that the
marketing is a firm internal activities and set of processes which is used for creating,
communicating and delivering the values to consumers and for handling relationships in such a
manner which aids to the firm and the user (Mihart, 2012).
AMA (2015), it is the performance of operational activities which transfer the products
form the firms to the consumers.
As per the Eldridge- Marketing is the emergence of diverse activities that are made in
order to earn profits effectively.
There are various key responsibilities and roles of the marketing manager in the Wilkinson
which are defined as under:
 Deciding price: After assessing the markets, the marketing manager renders their
valuable feedback for deciding the price of the company's product effectively so that
more customers can be added (Jones and Rowley, 2011). As this is the final price that are
charged by the firm form customers. The top level evaluates about the final price that is
referred by the marketing manager, and if they think that the price is reasonable and
customer is willing to buy the product or take the services form the company then they
fix the price. Consumer is ready to buy the product in that price.
 Selling: Under this process, company handover the product or service to the customers in
consideration of price. This is the responsibility of the marketing managers and their
subordinates to have various strides in order to make their process simple for the
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customers. Under this, Wilkinson confirm that the its products or services can easily
accessible by anyone in the most convenient manner.
 Promotion: this is the main task of the marketing manager to promote the product or
services effectively. As by using the promotional strategy, company could promote their
products or services. For promoting the products, marketing manager uses various
strategies so that the optimum sales can be generated and this will also help to gain the
larger market share (Malhotra, Birks and Wills, 2013).
 Management information system: Survey and deep insight are done by each
organizations for getting the data about the customer needs and preference and also about
the current trends of the consumer so that the business can operate effectively and also
need to get certain information as per the requirement of the market (Biggemann, 2012).
Wilkinsion top level authority would frame decisions from the business.
 Distribution: Various channels are used by the business in order to distribute effectively
so that the maximum outcome can be generated. For adopting a good distribution
channel, survey is completed by the firm in order to frame their product or service prices
so cheap and reasonable.
 Financing: Marketing managers determines and allocate the funds for diverse
promotional activities that are going to assist the firm to get the sustainable development.
it is the main thing that company’s top level authorities should get to know about the
funds that are needed to be employed for doing marketing strategy. This is the key
essential thing in the business for survival. the marketing manager would make their
budget for dispersing the amount in promotional activities.
Cited firm marketing manager are required to have great understanding of about the roles
and responsibilities so that the business can get their objectives in an effective manner.
Effectiveness of activities are needed to be done by the marketing division in order to determine
the sustainability of the firm. Therefore, there is a need to perform entire business marketing
activities by the marketing manager so that the firm can get the higher market stake in the
industry.
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P2
Marketing helps to create the needs of the products to the consumers so effectively. So that the
sales volume can be improved. Marketing manager evaluates various components in the firm.
Some of the components are described here under:
 Operation activities with the marketing function: for achieving growth and
sustainability, there is a need to make effective co-ordination between the marketing
department and others operational department of the Wilkinson. For this, a written
plan is required to be done by the firm in order to make product as per the need to the
consumer. The main benefits of such type of co-ordination that this add value to the
whole operational process so that the quality can be maintained. Operational division
is accountable for checking the quality of the firm.
 Marketing function and finance function: finance division assists to understand the
needs of each department and enable them executing their operations. Finance
department helps to provides adequate funds to the marketing department in order to
perform their operations. It is the responsibility of the finance department for
allocating adequate funds to the marketing department in an appropriate way.
 Research and development department with marketing function: marketing
department cope up with the R&D department (Ryan, 2016). R&D managers evaluate
the needs of the consumers so that the marketing department will promote the product
as per the need of the consumers.
 Human resource department with the marketing function: human resource department
helps to recruit the talented and skilfulness staff and provide them training so that
they can contribute better in order to gain the sustainability. As employee helps the
firm to attain the production related targets, and make effective products or services.
 Sales department and marketing function: The marketing department helps to
promote sales. Various promotional activities are done by marketing department for
influencing consumers to buy the products. However, the Wilkinson marketing
managers could implement the technology for conducing online marketing of its
products. Various promotional activities are done by the marketing department for
influencing consumers to buy company’s products or services that helps to improve
sales.
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 IT department with the marketing function: nowadays each activity is based on the
technology as this improves the firm’s department for gaining sustainable
development. however, managers of the cited firm implement technology for
promoting firm’s marketing via online social networking sites. As, this activity helps
to let consumers know about the firm’s products so vast, and also makes the firm to
get the sustainable development.
Diverse activities are covered in IT. As, the dependency on IT is completely vast, and this
not only influence the sales of the firm but also affects the other functions of the firm (Garrigos-
Simon and et. al., 2012). This is the accountability of the marketing manager to plan for the
entire activities perfectly and also makes co-ordination with the other diverse functions of the
company. by using IT in the firm, complexity can be reduced and the effectiveness is build, and
Wilkinson utilize their available resources effectively. The marketing manager or other senior
manager makes a business plan for getting the gaining the desired results.
These are the ways by which marketing functions are linked with the rest of the functions
of the firm and striving hard to get the work done in order to build greater efficiency for gaining
success.
M1.
Marketing is the tool under which diverse activities are defined and they are collected by
the firm in order to gain the profitability. Marketing is the new way to promote the product or
service of a firm. But for marketing of solid product, there is a need to understand the need of the
consumers so that they could frame the marketing policies as per the need of the consumers.
There are certain tools that are used by the marketing manager in order to gain the sustainability
in the marketplace, and this can be achieved by way of convening research (Linoff and Berry,
2011). Marketing covers the performance of the firm in a firm system. This covers those
operations which affects the current and future demand of the consumers. Henceforth, marketing
includes the huge inter-related activities which expend the role of marketer. The key concern of
marketing is to determine and satisfy the specific requirement by way of specific goods or
services.
Marketing environment is categories into two parts
1. Micro environment: This starts with the firm internal environment. This implies the
factors and forces in the immediate environment to offer influence the firm’s ability.
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2. Macro-environment: This covers those factors or issues that are firm’s external forces
in the firm activities and these are not related to the immediate environment. Macro-
environment factors are the uncontrollable one that indirectly influence the firm’s
ability to run in the market more effectively.
Role of Marketing: marketing innovation and inventions are the main or key technical changes
which now arises at a great enhancing rate in the FMCG and the electronics.
Advance competition is emerging form surrounding environment. Various international players
are eagerly to capture the market in an increasing rate. Various online contenders are making
their products cost efficient so that they could gain the competitive advantages and also disperse
the distribution channel in a cost efficient manner.
Modern marketing has changed the concept of marketing as these covers various variety of the
marketing innovations to promote their products. Because, makes the business so effective. As
the marketing plays a key role. This is the crucial multiplier and an efficient growth engine of the
economic development. this mobilizes latent economic energy and that is why, it is the maker of
the economic development. this is the main driver of standard of goods.
There are diverse functions in the marketing which are as follows:
 Social Marketing: this is the concept which is aimed at producing the customer
satisfaction and public welfare and as the main thing to meet the firm’s goals and
objectives (Kotler, 2012). Social marketing is an implementing of marketing theories and
tools to social situation.
 Over marketing: this make the efforts to gain the higher sales while ignoring quality
control, manufacturing effectiveness and the cash flow management.
 Relationship marketing: this is procedure of making the win win relations with the
customers, distributors, dealers and the suppliers. This also assures to provides the high
quality services and adequate price to the other party over the time.
 Development marketing: this is connected to the innovation. Marketing concept
introduce a useful goods in order to have advance uses.
M2.
The marketing function of Wilkinson are connected with the other functions in order to
make firm’s operations effective and efficient in order to meet the various pre-set objectives of
the firm. As marketing division of the firm helps to generates sales to the Wilkinson that will
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helpful for the firm in order to make their business operations effective. Hence, the sales
department of the firm aare directly links to the marketing department. As, without marketing,
consumers would not know about the firm product and that is why they can’t generate so much
sales. There is a need to make certain things that are required to make certain things which are
going to make their business operations effective and efficient (Kapferer, 2017).
Finance department is directly connected to the marketing department because, without
marketing functions the funds cannot be raised. On the other hand, without finance, the
marketing functions cannot be performed. Hence this is rightly said that the marketing and the
finance department are inter-related to each other.
Marketing and the production department is connected to each other as this is said that
the without effective marketing the production cannot be made as the marketing plays an
important role for making the products famous so that the product can be sold more than the
imagination which in turn generates the more sales.
Hence, this can be said that the marketing functions are inter-related to the other department
functions in an effective manner.
D1
Key component of successful marketing strategies are mentioned hereunder: these are:
 Segmentation: Under this stage, company need to know in which segment company is
willing to offer their products and what are the reasons behind this (Baker, 2014). If the
marketing manager will not know about what are the causes, then the company will not
ready to deliver the marketing functions effectively.
 Targeting and positioning: marketing manager is requiring to sell market segments that
would be most gainful for their business. It is imperative that firm’s item meet the needs
of customer which the firm is going to select the target market. Marketing manager ought
to make marketing strategy that benefits as much as possible from his qualities and
matches them to the necessities of the clients he need to target (Cox and Wray, 2011). For
instance, if a specific gathering of clients is searching for quality above all else, at that
point any marketing action went for them should attract consideration regarding the high
calibre of your items or administration.
 Promotional tactics: When marketing manager have made their advertising methodology,
he should then choose which promoting movement or exercises will guarantee your target
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market think about the items or services that you offer, and why they address their issues
(McDonald and Meldrum, 2013). There are numerous approaches to accomplish this -,
for example, different types of advertisement, presentations, advanced promoting and a
powerful 'purpose of offer' technique
 Monitoring and evaluation: Observing and assessing how powerful firm technique has
been being a key component, yet regularly observed. This control component not just
encourages you to perceive how your technique is performing by and by, it can likewise
help educate your future promoting methodology. A basic approach is to ask each new
client how they find out about the business. More profound investigation can originate
from surveys, centre gatherings and analysing clients' online behaviour.
TASK 2
P3
Marketing mix: This is the simplest form. As this is about placing the appropriate item
in an appropriate place, at a right time, and at a prefect price. Company needs to know about
each aspects of the business plan. Marketing strategy aims to communicate to customers to
added values of products and services (De Mooij, 2013). This assumes to be the right mix of
design, function or service to enhance customer awareness of the firm products and urge them to
buy their products. This is an imperative tool which concentrates on the development of products
or markets. This assist the firm in its distribution and promotion in order to mitigate consumer
needs with the earning to the markets. This covers both product or service markets. Marketing
mix have four components like- Product, price, place and promotion. This would assist to get to
gain the marketing objectives of firm. This is the most important factor of differentiating the
product from the other similar products. This is the tool which assist to gain optimum profits due
to the application of four components in the firm will able to generate the desired results. These
are the most helpful thing for achieving firm’s goals and objectives. These are discussed as
under:
Component Wilkinson ASDA Group Ltd
Product The key product of the firm
are homewards and household
related products.
ASDA Group Ltd provides
same products with the least
price to the consumers.
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Price This is the cost that are
charged form the customers.
Wilkinson focus on the middle
and upper class consumers and
decides the price accordingly.
ASDA Group product price is
set after analyzing the
customers. This deals in all
segmenets, such as- low,
middle and high level
consumers. However, the
price are set after analyzing
various customers via so many
channels.
Promotion This is the totally related to
the sound communication
channel. As this is totally
related to the company’s
various communication and
distribution channel (Babin
and Zikmund, 2015). There
are diverse components to
promote the products as per
their requirement. The
Wilkinson uses both the
strategies i.e. paid and non-
paid activities so that the
product can be promoted
effectively.
ASDA Ltd also uses both of
the strategies to promote their
products and the marketing
manager mostly focus on the
non-paid promotion tools to
promote their product as this
also save their promotion cost
and also makes the
sustainability effectively.
People People is one of the most
important aspect that are used
ultimately by the people
Wilkinson makes their product
as per the need of the people
ASDA can make their plan
after consuming their services
after estimating their needs
and also establish their
business accordingly
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and their business is also
people oriented. Because, their
main aim is to provides
luxurious products as per their
requirements.
(McDonald and Wilson,
2016).
Process This is the key thing or aspect
in the business operation as
this makes their products
effective just because of their
process as their process are
much effective and that is why
they tends to make their
business operations
accordingly. Wilkinson uses
the better operational process
that are basically used by the
firm for gaining their business
success.
The ASDA Ltd uses the
process in order to cover the
highest market share in the
UK. However, their process
are not much better than the
Wilkinson.
Physical evidence These are required to be the
experience that are totally
gathered by the people in
order to have the better
sustainability for the firm.
The physical evidence of the
ASDA company is not that
much better what Wilkinson
have.
M3
Different tactics used by Wilkinson to achieve goal
After the initial target market research decide on a single focus of what Wilkinson want
they want from their business in order to achieve their organisational goals to bring their
maximum outcome. A very nice example of this can be found on digital Brisbane with digital
marketing strategy plan.
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