Marketing Strategies and Applications in Business: A Detailed Report

This report provides a comprehensive analysis of marketing functions and strategies, with a focus on their application in modern organizations like Tate & Lyle Plc. It explores the role of marketing in developing promotional plans, conducting market research, and influencing customer behavior. The report delves into key elements of the marketing mix, comparing strategies of companies such as Beauty Giant and Avon. It examines how these companies apply the marketing mix to achieve their business objectives, including product development, pricing, distribution, and promotion. The report also highlights the interrelationship between marketing and other functional units within an enterprise, such as finance, production, and sales, emphasizing the importance of coordination for achieving desired marketing objectives and gaining a competitive advantage. The analysis covers topics like content marketing, market segmentation, and competitive analysis, providing valuable insights into the dynamic nature of marketing in today's business environment.

Marketing and its application

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Lo 2 ................................................................................................................................................4
Comparing the ways in which different companies apply the marketing mix to marketing
planning procedure for accomplishing objectives ......................................................................4
Evaluating the different tactics applied by an enterprise to demonstrate the way business
objectives can be achieved...........................................................................................................6
Designing strategic plan which can be tactically be applied ......................................................7
Lo 3 ................................................................................................................................................7
Basic marketing plan for an enterprise........................................................................................7
Evidence based marketing plan ..................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is considered to be as important business activity which assist an organisation
in accomplishing desired business objectives. The main purpose of marketing activities executed
by companies is to provide high level of satisfaction to customers. Marketing involves
procedure of creating messages, delivering and exchanging values. Considering the results
generated by marketing activities, many organisations has planned to increase their budget for
promotional activities. It is important for manager to develop understanding about the marketing
concepts, as this will help them in developing an effective promotional plan.
The purpose of report is to analyse as well as evaluate key elements of marketing
functions and the way they are interrelated to other function in context of Tate and Lyle Plc. It is
British multinational agribusiness. An organisation using innovative technology to turn raw
materials like corn, tapioca and oats into ingredients that add taste, texture, nutrients and
increased functionality to food. Report also has focus on identifying the role of marketing in
modern organisations.
MAIN BODY
Marketing has important role to play in business. Some marketing function includes
development of promotional plans which are required for execution of various activities in
systematic manner. Market research is considered to be as another important role of marketing.
The function of marketing is to collection information related to the customers by conducting the
survey and provide the same to company. An important function of marketing in Morden
organisation such as Tate and Lyle Plc is to support firm in influencing customers to buy
innovative products. Role of marketing function is to help an enterprise in launching of
innovative products in the market. In context of modern companies such as Tate and Lyle Plc
function of marketing is to support business entity in exploring as well as capturing growth
opportunities. Role of marketing in modern firm is to assist Tate and Lyle Plc mainly in three
business areas these are content marketing , creation of messages and helping business entity in
generating brand awareness (Bowie and et. al., 2016.).
The success and growth of company is completely dependent on the marketing functions.
Role of marketing is to propose goods and services. Function of marketing in modern
organisation such as Tate and Lyle Plc is to support an organisation in developing strong
relationship with customers. Marketing plays an important role in brand promotion.
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Role of marketing in organisational context is that it has to support an organisation in
analysing the current business trends. It supports an enterprise in reaching to target audience and
helps firm in delivering information about products or services to consumers. Digital marketing
supports firm in reaching to wide number of customers. Role of marketing in modern
organisation such as Tate and Lyle Plc is to integrate the needs and wants of the customers to the
other organizational functions like production, R&D, finance, personnel, etc. In context of
modern companies marketing plays role as integrator (Brace, 2018). Role of marketing function
is to help business entity in maintaining market share. Function of marketing in Tate and Lyle
Plc is to help an enterprise in developing the good reputation in the market.
In addition to the above role, Marketing perform an important role of promoting brand
among the consumers by providing effective and quality content for the company websites and
blog that attract large number of customers. Content marketing has supported Tate and Lyle Plc
organisation in generating positive results (Davis, 2017). Marketing plays important role in
driving an organisation towards accomplishment of business objectives. Role of marketing in
organisational context is to identify the needs of customer and provide information to clients
using the company website. An important function of marketing is to positively influence people
to become loyal towards brand.
Roles and responsibilities of marketing in context of marketing environment. Marketing
plays crucial role in delivering high value to customers. Function of marketing is to ensure that
customers whom the company has developed specific goods are able to buy products. Role of
marketing is to ensure that products are transported to all customer markets. Role of marketing is
to support manager in development of an effective promotional plan. Function of marketing is to
execute market analysis for identifying products are transported to all customer markets. Role of
marketing function is to analyse trends as well as convert them into opportunities. Executing
market research is considered to be as an important marketing function. It is the duty of
marketing to provide Tate and Lyle Plc with information related to market, target customer
group etc. Managers in modern companies such as Tate and Lyle Plc utilises market research
technique for gaining knowledge about the customer needs (Grobelna and Marciszewska, 2016,).
Role of marketing function is to identify those factors in business environment which has direct
as well as significant effect on companies' operation or organisational performance. Its role is top
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support firm in preparing the strategies or effective plans for dealing with various changes in
market environment.
Market segmentation is also considered to be as important role of marketing function. An
organisation cannot connect with all the customers in a large and diverse market, in such
situation role of marketing is to help firm in reaching to target audience. Function of marketing is
to business entity in identifying the target customer group and also an appropriate market for
positioning their products. In addition to above role, function of marketing is to track brand
equity. Role of marketing is to assist an enterprise in dealing with intense competition.
Tate and Lyle Plc has to face instance competition from both domestic and international
companies. Role of marketing is to gather the information about the strategies adopted by
competitors for attracting customers (Law, Buhalis and Cobanoglu, 2014). Function of
marketing is to maintain balance between consumer and competitor monitoring.
Function of marketing is to manage all distribution channel in an effective as well as
efficient manner. Role of marketing is to identify new ways for making quick deliveries of
products or services to customers. In addition to this, designing as well as managing integrated
marketing communication is very important in order to develop strong relationship with
customers. Communication mix comprise sales promotion, relationship management,
advertisement of products or services.
Key elements of marketing functions and the way they related to other functional unit in an
enterprise.
Marketing manager in Tate and Lyle Plc has developed various strategies as well as plans
for addressing the needs of customers and for delivering high level of satisfaction to clients.
Marketing plan, research, product development etc. are considered to be as the important element
of marketing function. Role of marketing is to assist business entity in designing the products as
per the needs as well as demands of customer in the market (West, Ford and Ibrahim, 2015.).
Function of marketing is to support firm in making an effective strategy for attracting target
customer group.
Marketing department coordinates with other functional units in order to drive an
organisation towards accomplishment of desired business objectives. Finance department
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prepares the budget for marketing unit in Tate and Lyle Plc and provide them with financial
resources which are required for executing promotional activities.
Marketing department conduct survey and provide information about the taste of
customers to production department and helps business entity in maintaining the balance
between demand and supply.
Sales department and marketing team works in coordination with each other. Sales
functional unit in an enterprise prepare report which consist of total amount of revenue earned by
company in particular financial year (Lu, Chi and Liu, 2015). Sales report is utilised by the
marketing team for analysing organisational as well as specific product performance in the
market.
Purchase department provides the resources to the marketing functional units which is
required by them for facilitating promotional activities.
The interrelationship between different departments in an organisation is important in
order to accomplish desired marketing objectives. It is also crucial for delivering quality and
quick services to customers. Strong relationship between different function unit in ate and Lyle
Plc has assisted an enterprise in providing high level of satisfaction to clients. It has helped
business entity in gaining competitive advantage in the market (Beldona and Kher, 2015.). Good
relationship between different department in an organisation has assisted management in
ensuring an effective as well as efficient utilisation of business resources. Strong relationship
between different functional units has helped firm in developing the good brand image in the
market. It has helped business entity in increasing sales and profitability. Strong
interrelationship between functional unit has helped an organisation in increasing working
efficiency as well as productivity.
Lo 2
Comparing the ways in which different companies apply the marketing mix to marketing
planning procedure for accomplishing objectives
Marketing mix can be defined as combinations of various elements which can be
controlled by an enterprise for influencing customers to buy products or services offered by
company. Beauty giant is multinational beauty company. Business entity has adopted an
effective marketing strategies which has assisted an organization in accomplishing desired
business goals. It is important for manager in Beauty giant top include all 7 essential elements of
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marketing mix in promotional plan, as this will assist beauty giant in attracting more number of
customers. The comparison between marketing mix of two companies such as Avon and beauty t
are :
Products : Beauty giant company offers good quality of products which generally does not
consist of harmful chemicals. Business entity have focus on providing good quality of products
at reasonable price to customers. An organization produces goods or services as per the need and
demand of . Beauty sells only a limited line of make up and fragrances. On the other hand, Avon
is recognized as leading firm in cosmetic (Stöttinger Schlegelmilch and Zou, 2015). Business
entity offers cosmetic products for women and men. In addition to this, Avon also offers toys,
clothes and perfumes.
Beauty giants traditional and simple range of goods. On the other hand, Avon offers
modern as well as complex range of products to customers.
Beauty giant follows vertical integration strategy. Whereas, Avon has adopted
diversification strategy in terms of horizontal assortment.
Price : Beauty giant offers wide range of products to customer. In addition to this, company also
intends to provide good quality of products or services to client at reasonable price. On the other
hand, Pricing policies of Avon company is mainly based on two factors these are the target
market and the category of the product. Business entity also sets the prices of goods or services
considering the economic condition of the nation as well as pricing strategies adopted by
competitors for attracting customers.
Place : Beauty giant organization has stores located at central location in the cities, this strategy
has been adopted by an organization in order to provide customers an ease in accessing to
services or products offered by an organization. In addition to this, an organization has form
strategic partnership with other companies in same industry in order to deliver goods or services
to wide number of customers. An enterprise also offers wide range of products to customers
through E- commerce sites. On the other hand, Avon has adopted the direct selling strategies for
distributing the products or services to their client.
Promotion: Beauty giants utilities social media marketing as a technique for promoting brand.
This promotional strategy has helped firm in reaching to the wide number of customers and
supported business entity in providing the quick response to customer queries. Whereas, Avon
utilities the direct marketing strategy which has enabled an organization in developing strong
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relationship with customers. It has also provided firm an ease in positively influencing customers
to buy goods or services offered by an enterprise. Avon also have tie up with the e commerce
website, it offers lucrative discounts and offers and various times in the year
People: Beauty giant has adopted the customer oriented approach. An organization have focus
on providing good quality of products and high level of satisfaction to its clients. Whereas, Avon
is mainly concerned with fulfilling the needs and demands of both employees and customers.
Business entity intends to provide high rate of return on investment to its shareholders (Posner,
Williams and Posner, 2015.).
Physical evidence: Beauty giants have attractive stores. On the other hand, Avon has effective
as well as flat business structure which supports manager in making suitable and quick decision
making.
Procedures: Beauty giant have focus on improving quality of products as well as marketing
activities. Whereas, Avon emphasizes on restructuring its different business procedures , which
has assisted an enterprise in gaining the competitive advantage in the market.
Evaluating the different tactics applied by an enterprise to demonstrate the way business
objectives can be achieved
An organization mission is to provide high level of satisfaction to its clients. In addition
to this, business entity intends to achieve leading position in the market. Objective of firm is to
earn high profits and increase sale. An enterprise wants to capture wide market share.Beauty
giants has divided its core products mainly two segments one for men and other for women.
Business entity has included the all the seven elements of marketing mix in its promotional plan.
In addition to this, an organization is utilizing social media sites for promoting goods and
generating brand awareness. Special discounts and offers are offered by an enterprise for
attracting target customer group (Kubacki and Rundle-Thiele, 2016.). Beauty giant also
organizes marketing campaign at regular interval of time for informing people about new launch
of cosmetic products. Direct marketing strategy implemented by an organization has assisted an
enterprise in building strong relationship with customers. Beauty giant can adopt market
penetration and diversification strategy, as this will assist an enterprise in achieving desired
target. In addition to this, human resource manager in an organization has provided training to all
the employees engaged in the marketing activities , this tacit has helped an organization in
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improving business performance. It has helped business entity in delivering high value and
satisfaction to customers.
Designing strategic plan which can be tactically be applied
Business Objectives: Purpose of beauty giant organization is to earn profits and earn revenue. In
addition to this, business entity objective is to deliver high level of satisfaction to customers and
gain their loyalty. It also intends to capture wide market share. An enterprise has focus on
achieving leading position in an industry.
Marketing mix strategy: Market penetration, diversification and product development strategy
has been adopted by company for achieving business objectives.
Tactics: Staff members are provided with training. In addition to this, market research has been
conducted before launch of product.
Monitoring and Evaluation: customers and clients feedback has been used as a technique for
measuring product performance.
Lo 3
Basic marketing plan for an enterprise
Mission Or objectives : To increase sales by five percent within six months.
Situation analysis : Before launching a product it is required by marketing team in an
organization to conduct situational analysis. Pestle or porter five forces can be used as a tool for
analysis the situation in the market.
Changes in the economic factors can have direct effect on the profitability generated by
sell of specific product. Change in social trends have direct effect on the demand of the product
in the market. Technological factors can assist business entity in improving quality of product.
Addition to this, Technology can be used by the firm for promoting product. Environmental
factors have direct impact on Quality of good (Kelsey, 2017).
Marketing strategies: Marketing manager in Beauty giants has included all the seven elements
in marketing mix which has helped an enterprise in accomplishing desired business objectives.
Budgeting and control : It is required by finance manager in an enterprise to prepare flexible
budget for promotional activities. Budgeting technique assist manager in comparing actual cist
with budgeted. T cost of operational activities of an organization involves such as salary of staff
EU10000, training cost EU21000 and rent EU11000 and company is generating revenue of
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EU50000 from its sales operations and they need EU40000 investment in order to expand its
business operations.
Monitoring and evaluation : Feedback and market survey can be conducted by marketing
manager in beauty giant company, as this will assist an enterprise in measuring the product
performance.
Evidence based marketing plan
Evidence based marketing plan for beauty giant are :
Product : Beauty giants need to concentrate on quality of products. In addition to this, it is very
much important for firm to conduct situational as well as market analysis before launching of
product in the market. As these tactics will assist an organization in selecting the suitable market
for positioning the specific products (Charter, 2017). Market research technique will also help
business entity in identifying the target customer group those who will buy particular cosmetic
item.
Price: At initial stage of product launch, business entity need to launch specific cosmetic item at
low price, as this strategy will assist an organization in influencing people to buy products. After
the successful launch of product , beauty giant can again reset price as per the demand in the
market.
Place: It is important for an organization to offers wide range of products through websites. As
by implementing this strategy an organization can provide customer convenience in buying the
goods. Beauty giant can develop online website for sharing information about the products with
customers.
Promotion: Firm can participate in social events, as this strategy will help an enterprise in
getting the recognition in the market. It will also help an enterprise in generating brand
awareness and will help beauty giant in establishing good image in the market.
Physical evidence: Beauty giants need to establish more retail outlets , as this strategy will assist
an organization in delivering products or services to wide number of customers. In addition to
this, firm need to bring improvement in business structure.
People: Human resource manager in beauty giant need to provide training to employees those
who are associated with marketing activities, as this will assist an enterprise in accomplishing
desired marketing objectives. In addition to this, it will help business entity in increasing sales.
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Procedures: An organization need to strengthen its supply chain as well as distribution network.
In addition to this an organization should concentrate on logistics management.
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REFERENCES
Books and Journals
Beldona, S. and Kher, H. V., 2015. The impact of customer sacrifice and attachment styles on
perceived hospitality. Cornell Hospitality Quarterly. 56(4). pp.355-368.
Bowie, D. and et. al., 2016. Hospitality marketing. Routledge.
Brace, I., 2018. Questionnaire design: How to plan, structure and write survey material for
effective market research. Kogan Page Publishers.
Davis, J. A., 2017. Measuring Marketing: The 100+ Essential Metrics Every Marketer Needs 3rd
Edition. Walter de Gruyter GmbH & Co KG.
Grobelna, A. and Marciszewska, B., 2016, April. Work motivation of tourism and hospitality
students: implications for human resource management. In Proceedings of the 8th
European Conference on Intellectual Capital, ECIC (pp. 95-103).
Law, R., Buhalis, D. and Cobanoglu, C., 2014. Progress on information and communication
technologies in hospitality and tourism. International Journal of Contemporary
Hospitality Management. 26(5). pp.727-750.
Lu, L., Chi, C. G. and Liu, Y., 2015. Authenticity, involvement, and image: Evaluating tourist
experiences at historic districts. Tourism Management. 50. pp.85-96.
Charter, M., 2017. Greener marketing: A responsible approach to business. Routledge.
Kelsey, T., 2017. Introduction to Search Engine Marketing and AdWords: A Guide for Absolute
Beginners. Apress.
Kubacki, K. and Rundle-Thiele, S. eds., 2016. Formative research in social marketing:
Innovative methods to gain consumer insights. Springer.
Posner, H., Williams, S. and Posner, H., 2015. Marketing fashion: strategy, branding and
promotion. Laurence King Publishing.
Stöttinger, B., Schlegelmilch, B.B. and Zou, S. eds., 2015. International Marketing in the Fast
Changing World–Introduction to Volume 26. In International Marketing in the Fast
Changing World (pp. xi-xvi). Emerald Group Publishing Limited.
West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive advantage.
Oxford University Press, USA.
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