Marketing Essentials Report: Unit 2 - BTEC HND Business

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This report provides a comprehensive analysis of marketing essentials, addressing the role of marketing, its interrelation with other organizational functions, and the comparison of marketing mix elements. The report uses Dorothy Perkins as a case study, comparing its marketing mix with that of its competitor, Pimkie. It also develops and evaluates a basic marketing plan. The introduction outlines the context of the assignment, focusing on the marketing activities of Dorothy Perkins. The main body of the report explores the role of marketing, including product, production, selling, and societal concepts, and it also looks at the correlation between the marketing function and other organizational roles such as HR and Finance. The report then compares the marketing mix of Dorothy Perkins and Pimkie, highlighting differences in product, price, place, and promotion strategies. Finally, the report develops a marketing plan. The report concludes with a summary of the findings and a list of references.
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Marketing essentials
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Table of content
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
TASK 1......................................................................................................................................3
P1 Role of marketing..............................................................................................................3
P2 Correlation of marketing function & another role of organization...................................5
TASK 2......................................................................................................................................6
P3 Comparison between marketing mix of two entities.........................................................6
TASK 3......................................................................................................................................9
P4 Marketing plan..................................................................................................................9
CONCLUSION:.......................................................................................................................12
REFERENCES.........................................................................................................................14
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INTRODUCTION
Marketing signifies administration of different kind of action which is taken for
promoting diverse types of goods and services within business organization. The aim of
marketing organization is to provide assurance that help in promoting goods and services in
order to attract ample of user in short time period. The current work is depending on
organization that is Dorothy Perkins. It is online British women fashion organization located
in UK. This company was founded in 1909 and provide different kind of women retail
fashion product to its customer for satisfying them. This assignment offer various rules
related to functions of marketing and diverse activity in organization. In assistance of this, the
report provide difference among marketing mix related to organization that is named as
Dorothy Perkins and its competitive organization is also described, the role and responsibility
of marketing. The primary purpose of marketing is to assess diverse types of products and
services in order to satisfy need of user in the market. They are needed to assess and also
evaluate size related to market that provide benefit to market. It is determined as a primal
segment related to organization that aids assistance in offering superior quality of goods and
services to its user in order to satisfy its need (Borg, 2020).
MAIN BODY
TASK 1
P1 Role of marketing
Marketing includes different business activities which helps to design consumer needs
with help of exchange process. The primary aim of marketing is to ensure that targeted user
increase awareness in context of different goods and services of organization. In addition to
this, the concept which is connected to marketing must be altering and also there are diverse
role of administration team in order to promote goods and services in front of customer in the
market.
Development in conception of marketing herein, through merchandising the
primary purpose of marketing is to assist necessity as well as essentials of customer in the
market. The primary purpose of business organization is to conduct strategies along with
digital media for enhancing understanding level of person regarding diverse activity of goods
and services that is provided within market. Therefore the chosen organization focuses on
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providing better facility to its user according to its need as well as requirements. They can
increase their profit margin in future time period. They emphasized on enhancing promotion
and advertisement in people in order to raise its facility. In addition to this, it is useful in
earning high level of profit in upcoming time period.
Product concept it is important to offer superior quality of goods and services to its
user at low cost. In reference of chosen organization, their primary purpose or aim is to attract
ample of user by providing them goods according to their need during the particular phase of
time period.
Production concept related to production in addition with adoption of proper
resources in an appropriate manner that help in increasing success and growth of business
organization in future period of time. These types of resources used by organizations that
help in provide security regarding fulfilling requirement of customer in order to satisfy them.
Selling concept signifies different types of strategy adopted by organization in order
to promote goods and services. The selected organization focuses on adopting most
appropriate approach for providing superior kind of facility to its user during particular phase
of time period. The concept related to selling signifies regarding diverse types of methods
tactics that is required for aim of promoting goods and services in mind -set of user in market
(Hassan, Malik and Iqbal, 2018).
Societal marketing concept the marketing manager focuses on tackling different
kind of activity by providing different advantage & benefit to society for organising diverse
activity in an appropriate manner within an organization. It is important to increase profits
and provide advantages to it society by focusing on CSR that is significant for success and
growth of company.
Product development is important for organization to offer different ways to its user
for providing them superior quality of goods and services in proper manner. Therefore the
chosen organization emphasized on taking review and feedback from its user for offering its
services. The research is determined as a significant role within an organization that assists in
increasing understanding in context of change according to want & need of user. It is
important for marketing management of organization to focus on organizing research for
analyzing changes in need of user during the period of time. In addition to this, it is very
significant for marketing team to provide budget in respect of understanding in need and want
of user during particular phase of time period.
Brand management is significant factor & element of organization that assists in
sustaining user for a longer time period. The primary purpose is to provide good quality of
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product and services that help in handling brand in an appropriate manner it is also helpful in
increasing experience level of user in future period of time.
P2 Correlation of marketing function & another role of organization
Marketing is considered as a technique that is determined as an opportunity to user or
explore plan for providing an advantage to its user in the market. There are different kinds of
operation that is adopted by management team that is connected with marketing operation in
an appropriate manner (Hofacker, 2018).
Selling and marketing this operation is related with the administration of marketing
that required to acknowledge regarding their attention in respect of attracting large or ample
of user and increase sales of organization. They emphasize on user for enhancing user base of
business organization. It is important for chosen organization in manufacturing product and
services in order to reach different types of customers during particular phase of time period.
This kind of factor and element interconnect with each other for increasing sales of
organization. It is important for sales department in order to create lead through marketing
department that aids assistance in increasing understanding regarding department of user in
market so that they emphasize on using different kind of function in proper way. In assistance
of this, they focus on adopting customized tool in order to increase sales and profit margin in
future period of time.
Marketing and HR there are diverse roles related to HR department within
organizations like hiring, recruiting as well as selecting and providing training to its staff
members during the period of time. In addition to this, the human capital is considered as
important resource in order to select competent staff member in an organization. It is
important to choose competent subordinate for increasing contribution in respect of achieving
goal and objective in timely manner. In context of chosen organization, the manager focuses
on conducting research for assessing requirement of customer in order to satisfy them.
Through successfully hiring a subordinate it is the responsibility of HR manager in order to
connect along with different market department in order to execute diverse function in proper
way. It is analyzed that both marketing as well as HR department focuses on implementing its
function for recruiting knowledgeable subordinate that help in conducting different activity in
proper way. The HR manager emphasis on recruiting suitable applicant in order to promote
goods and services of organization &they provide discount offered to customers in order to
satisfy need in the market
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Marketing and Finance the financial sector within an organization focuses on
making appropriate budget for different sector of organization. It is important to manage
proper interconnection among finance as well as marketing sector in order to organise
different kind of activity connected to promoting goods and services of business organization
in proper way. The financial industry emphasize on making proper budget in order to execute
different function that is related to marketing in proper way. The finance sector and financial
professional emphasis on analyzing need of marketing professional so that they required
maintaining budget for promoting goods and services of organization in mind-set of user in
the market. The marketing professional focuses on communicating budget to its financial
management team for making appropriate budget which is related to a diverse promotional
function of organization in proper way (Hsu, 2016). The financial sector emphasize on
making proper budget for conducting different activities in proper manner. Therefore, it is
analyzed that finance sector provided fund to its financial sector and financial professional
emphasized on analyzing need of marketing manager in order to make budget for promoting
goods as well services of organization in mind-set of user in the market. Therefore it is
necessary for marketing manager to communicate its budget to financial professional for
maintaining appropriate budget related to diverse promotional activity of organization and
marketing department adopt fund for achieving target and enhance profit and sales in
upcoming period of time. Thus, the financial department is interconnected & interlinked with
one another for promoting goods and services of organization in front of customer in the
market.
There are different roles and responsibility which should be analyse of marketing
environment which can help to provide effective business and higher profit. Analysis of
interrelationship between marketing and other functional unit of organization can provide
better benefit and high productivity
TASK 2
P3 Comparison between marketing mix of two entities
Marketing mix are set of actions which helps to promote products or brands within
market. This technique that assists in assessing brand of organization which determines
different kind of element like product, promotion, physical evidence, process, people place as
well as price. Thus, marketing mix adopted by making comparison of Dorothy Perkins and
from competitive firm that is going to be mentioned below:
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Basis Dorothy Perkins Pimkie
Product Dorothy Perkins focuses on providing
superior kind of clothing, women
fashion clothes to its customer for
satisfying them. Due to having a global
presence and 2125 organization within
Dorothy Perkins retail organization.
Pimkie is a privately owned fast fashion
organization and strong chain related to
young women clothing with shop around
the Europe and located in North and
France. They provide products and
services in order to satisfy needs and
wants of customer.
Price It signifies amount that organization
charges to customer for different kind
of goods and services. It is important
for company to analyse competitive cost
in order to take decision in related to
price. The organization offer discount
pricing in order to reduce price for good
that assists in attract ample of user in
market.
Pimkie adopt variable pricing because
they focus is on moving from physical to
online. The organization used as a
strategy in order to change price as per
situation that is provided in the market. It
aids assistance in retaining customers for
a longer period of time.
Place It determines location of organization in
which they provide services & facility
to user according to its need. Therefore,
the chosen organization focuses on
different operation of company in
nation like UK
Pimkie focuses on using digital
technology through which they provide
facility to customer by using online
platform. The company focuses on
increasing sales by using online platform
for increasing reach to its customers that
aids assistance in communicating with
user in an appropriate manner (Siegel and
Worrall, 2018).
Promotion The promotional strategy is used for
influencing individual person regarding
company, create leads and increase
involvement of user. Thus, they adopt
advertising, sales promotion and word
of mouth strategies is used for
The organization adopts social media
technique in order to promote their goods
and services to its user according to its
need. There is different kind of
promotional techniques such as Face
book, Instagram & many more. In
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promoting business in front of customer
at market. It helps them in attracting
that customer who is in interest towards
fashion sector.
addition to this, there is diverse method
like promotion by television in order to
attract customer in respect of services
offered by organization.
People It signifies target user in order to
interact with subordinate of
organization it is important that
judgement of user is also used for
handling query of customer in an
appropriate manner and maintain
appropriate relation with user. There is
different kind of workforce platform so
that they perform the work in an
appropriate manner that helps in
increasing sales and maintaining
relationships with user.
There are diverse sources like program
that is adopted by organization to provide
training to subordinate within an
organization. It aids assistance in retain
user for smooth functions of organization
or company.
Process There are diverse sources by which
company organize function in an
appropriate manner. In reference of
chosen organization, they focus on
handling services which is important to
make sure that user process on regular
basis. It aids assistance in using
resources which are available for them
that helps in achieving goal in timely
manner (Shrestha, 2016).
Pimkie adopt simple process by which
they enhance understanding in respect of
diverse technique that is used in
attracting user and also fulfilling its need.
They offer services that attract large
number of user during the period of time.
Physical
Evidence
It determines surrounding related to
Marketing by which it is significant to
have good interaction among customer
and organization providing services to
its customers in order to satisfy them
Pimkie provide personalization for
organizing different activity in proper
way. The user use different kind of
services by adopting online source and
this kind of services involves fashionable
product to its customer according to their
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need.
It has been concluded that different tactics can be used by organization to achieve the
business objective with higher grade. Effective promotion can help the business to achieve
business objective by creating awareness regarding brand product.
TASK 3
P4 Marketing plan
Marketing plan refers to operational document which outline advertising strategy
within organization to generate and reach the target market. Business plan is determined as a
proper written document that contains objectives of organization, approaches for achieving
those objectives and time needed for achieving this goal. It is also signifies the document that
involve diverse strategy in order to promote goods and services of business organization. It
involves vision, mission as well as objective that help in providing different functions for
achieving objective in timely manner (Loo, 2017). The marketing plan of chosen organization
help in making sure that they focus is on offering different kind of services like fashionable
women products for satisfy them. They adopt online source that help in saving time in order
to provide convenience of the user. Therefore the marketing plan related to organization is
given below:
Overview of company
Vision: The vision of company is to achieve leading position around the globe.
Mission: The mission of organization is to provide fashionable products to its
customer at affordable price for satisfying them.
Aim: The aim of organization is to increase sales by 20% in upcoming 3 months.
Offering there are different kind of services that is provided by organization to user
such as provide women retail fashion product in order to expand their market and satisfy
them during particular phase of time period.
Situational analysis it can be analyzed the collecting procedure related to collecting
data and information in context of diverse event within an organization. The company
focuses on introduce new goods and services that help in retaining customers for longer time
period.
USP: It signifies unique selling proposition, is considered as worth that make product
differ from another to accomplish competitive advantage over rivalries in market. They
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provide superior quality fashionable women products to its user in order to retain them for a
longer period of time.
Market segment: It is determined as a procedure in which the whole market is
divided into small section. Herein, Dorothy Perkins focuses on segmenting their market on
the basis of women which is around 25-45.
Promotional strategies: The promotional strategy is used for influencing individual
person regarding company, create leads and increase involvement of user. Thus, they adopt
advertising, sales promotion and word of mouth strategies is used for promoting business in
front of customer at market. It helps them in attracting that customer who is in interest
towards fashion sector.
Target market it is important to target market for offering appropriate goods and
services to customers. Therefore the STP analysis of chosen organisation is going to be
mentioned below:
Segmentation it is assess that the chosen organization focuses on demographic
segmentation in order to divide user according to its age, income and so on. In geographic
segmentation, they focus on meeting need of user at diverse location. Furthermore, the focus
is on using variables like social status, lifestyle and so on.
Targeting herein, the chosen organization focuses on targeting all income of
individual person by offering them goods at affordable price. In addition to this, they also
focus on targeting to premium users by providing low premium product (Pollock III and
Edwards, 2019).
Positioning the organization focuses on positioning itself brand that offers superior
quality of goods at less price. The individual person provides reference to the goods of
business organization over competitors.
Marketing mix
Marketing mix signifies technique that assists in assessing brand of organization
which determines different kind of element like product, promotion, physical evidence,
process, people place as well as price. The marketing mix of Dorothy Perkins is given
beneath:
Product Dorothy Perkins focuses on providing superior kind of clothing, women
fashion clothes to its customer for satisfying them.
Price It signifies amount that organization charges to customer for different kind of
goods and services. It is important for company to analyse competitive cost in order to take
decision in related to price.
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Place It determines location of organization in which they provide services & facility
to user according to its need.
Promotion they adopt advertising, sales promotion and word of mouth strategies is
used for promoting business in front of customer at market.
Place There is different kind of workforce platform so that they perform the work in
an appropriate manner that helps in increasing sales and maintaining relationships with user.
Process There are diverse sources by which company organize function in an
appropriate manner.
Physical evidence It determines surrounding related to Marketing by which it is
significant to have good interaction among customer and organization providing services to
its customers in order to satisfy them (Puthussery, 2020).
SWOT Analysis
STRENGTHS WEAKNESSES
It is a global organization so that they
provide superior quality of product
and services to its user and have
global brand in HR that offers
advantages to business organization.
They possess a large portfolio related
to brand that perform their works
within diversify field.
They performed their work within
competitive atmosphere that offer
extensive level of competition to its
organization.
The marketing manager of chosen
organization does not conduct their
marketing research in an appropriate
manner so that erodes sales of the
company.
OPPORTUNITIES THREATS
They have opportunities in order to
expand organization by involving
innovative product in prevailing
portfolio that assists in achieving
competitive advantage from its
competitive firm
The competitive firm and local outlets
that offer goods at lower cost
Marketing budget this is needed by organization for accomplishing objective in pre-
decided period of time which is given beneath:
PARTICULAR
S
1st year (in
million)
2nd year (in
million)
3rd year (in
million)
4th year (in
million)
5th year (in
million)
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Start-Up Capital 5400 11000 12450 13030 17140
Investment 4300 7800 5500 4465 8636
TOTAL 9700 18800 17950 17495 25776
MARKETING
EXPENSES
Promotion 6500 7800 6900 12700 13660
Publicity 8800 12100 9900 10500 12200
TOTAL 15300 19900 16800 23200 25860
Monitoring performance measure and Indicator key performance indicators is significant
for organization in order to analyse progressive way which is related to marketing that help in
achieving goal and objective in a timely manner. Therefore, the chosen organization offer
diverse kind of indicator in order to analyse satisfaction level of customer for offering
different kind of facility to user that help in enhancing profit margin in future period of time
(Roy, Jain and Matta, 2018)
CONCLUSION:
On given assignment, it is assess that marketing signifies administration of different
kind of action which is taken for promoting diverse types of goods and services within
business organization. The aim of marketing organization is to provide assurance that help in
promoting goods and services in order to attract ample of user in short time period. This
assignment offer various rules related to functions of marketing and diverse activity in
organization. In assistance of this, the report provide difference among marketing mix related
to organization that is named as Dorothy Perkins and its competitive organization is also
described, the role and responsibility of marketing. The primary purpose of marketing is to
assess diverse types of products and services in order to satisfy need of user in the market.
They are needed to assess and also evaluate size related to market that provide benefit to
market. It is determined as a primal segment related to organization that aids assistance in
offering superior quality of goods and services to its user in order to satisfy its need.
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