Marketing Essentials: Ben Sherman and Marketing Mix Analysis Report

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This report provides a comprehensive overview of marketing essentials, exploring key functions and strategies within an organizational context. It delves into the roles and responsibilities of marketing departments, emphasizing their significance in achieving business success. The report uses Ben Sherman, a clothing company, as a case study to illustrate the practical application of marketing principles, including market analysis, segmentation, pricing, distribution, and promotion. It examines the interconnection between marketing and other departments, highlighting the importance of understanding market trends, customer preferences, and competitive strategies. The report also analyzes the marketing mix strategy, comparing how companies like Ben Sherman and Burberry apply it. Finally, it includes an analysis of the marketing plan of Ben Sherman.
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Unit 2: Marketing Essentials
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Table of Contents
Introduction................................................................................................................................3
P1 Key roles and responsibilities of marketing functions......................................................3
P2 The roles and responsibilities of marketing relate to a wider organisational context.......8
P3 Comparing the ways in which Ben Sherman and Barberry apply the marketing mix....10
P4 Producing a Marketing Plan............................................................................................13
Conclusion................................................................................................................................22
References................................................................................................................................23
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Introduction
Production of products and delivering them as finished goods is a part of business
management is known as marketing essentials. The marketing principle is actually dependent
on the deliverables of the goods. The marketing functions depend on how the goods are
supplied to the potential customers. The marketing essentials are typically associated with
designing the products, pricing and distribution and promotion of the product. The product’s
distribution is managed by the organisation based on its marketing and potential customers.
Marketing typically covers a number of promotional activities for the product as well. The
marketing department is associated with the physical evidences of the organisation’s
production and costing. Marketing is no doubt the most misunderstood discipline in the
management. The activities related to shopping and selling of the products in the potential
market. The marketing experts have exposed many advertisements strategies to deliver the
products. In this report, the importance of the marketing functions in the organisation is
explained well (Blythe and Martin, 2019). The company called Ben Sherman which is a
clothing company has taken for the evaluation in the report. There is an interconnection
between the Ben Sharman and various departments in the marketing sector. The marketing
sector is actually assessed critically in this report. The marketing mix strategy is also
evaluated in this report. This report is a in detail study of marketing plan on the based of the
current marketing plan which is given by Ben Sharman.
P1 Key roles and responsibilities of marketing functions
Definition of Marketing: According to the standard business definition by Philip Kotler,
marketing is the science of finding, creating and providing a number of values to the potential
customers by fulfilling their needs and demands. The primary responsibility of the marketing
department is to identify the needs of the company. To fulfil the target segment of the market
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the marketing team works upon it. The marketing segments deal with effective product price,
place, marketing strategies and product availability in the organisation. The marketing
process in an organisation aims to turn a concept for the production that can bring out the
production strategies (Blythe and Martin, 2019). Apart from that, the marketing department
also aims at finishing the products at the proper time frame. The value of the time frame is
very important in this case. The finished product and services are distributed across potential
customers. To get an update on the products and services a time to time check up is required.
Apart from that, all the departments are associated with the marketing department in
exchanging the product information. The ‘American Marketing Association’ has set up a
definition for marketing which says that marketing is a way of creating, delivering,
communicating and exchanging different products. There are rules for exchanging the
product information is known to every employee in the marketing departments. There is a
rotation of goods and products from one department to another. The clients and partners
should be associated with the product management and distribution in larger society.
There is few importance of marketing in the organisation. These are:
The Ben Sharman Company is a popular clothing brand that manages to sell sweaters,
sweatshirts, shirts, suits and accessories. The high quality shoes and accessories provided by
this company is also a new strategy of the company. It is a globally recognised fashion
company in 1963. They are established and based in England over 35 years. The company is
confirmed in other countries like USA, Australia, and Europe. In this company, the important
role is played by the market. The company’s target is to make new customers by analysing
their needs and demands. The marketing department of the company is responsible for
playing an important role in keeping the brand globally recognised in every way. The
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capability of the company is important to be mentioned in the marketing structure. The
competition is very important to maintain in the market for the company (Blythe and Martin,
2019). The importance of marketing is as follows:
The marketing department of the Ben Sharman is important to manage and promotes
the brand. For totall success of the brand there has to be a good quality. The business
is expanding day by day due to correct employability and brand increment
(Henríquez, 2018).
The managers of the Ben Sherman are associated with social media promotion and
branding. This explains the brand equality and its promotion in business through total
media exposure (Campbell, et. al., 2018).
The marketing department of the company is important for conducting research on the
market to identify product price. Day by day there are many brands accessories which
are getting famous. These fashion statements can become a potential revenue source
in the company. The company is also determined by the prices and places for their
products. This is done based on the capability and convenience of the target marketing
of the brand. Moreover, the marketing department is responsible for guiding and
helping the other departments to perform in an efficient way (Campbell, et. al., 2018).
The main marketing department is actually dependent on the closing connection and
the customer association. There are many target audiences that are put on the
company’s product to make profit in the business.
The target customer’s demand is fulfilled by the company as well by its marketing
department that brings out new strategies every time a new product releases
(Henríquez, 2018).
Marketing Functions:
The company deals with certain marketing functions that lift up the company’s preferences.
The company has a number of activities that collectively helps in identifying the company’s
profits and productivities. In other words, the company has efficiency to handle big customer
demands by a typically placing the deals of the products successfully in the markets. Except
this part, there is an increase in the education potentiality of the company because of the
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potential buyers. There should be uniqueness and promotion of a good quality of the buyer of
the company. The benefits of the products are also explained by the company’s marketing
and promotion (Henríquez, 2018). There are various market functions that are used in this
company. These are discussed below:
Market analysis: This is associated with understanding the market trends, people’s
preferences and market competitions and strategies. The analysis and statistical data is
analysed in this case to bring out market information.
Market segmentation: This is another potentiality shown by the customers that has similar
criteria like the gender, age, workability, and financial conditions and many more.
Pricing: The company targets potential customers by setting up the prices based on their
choices. This is a very important need of the company that explains few capabilities as well
(Henríquez, 2018).
Distribution: It is on the company how much ever they want to distribute the products of the
company. This strategy is maintained by the marketing department to increase the sake of the
company. There are various channels which can be the reason for distribution for example,
online stores and physical stores. The main target is to make the products reach as many
customers as it can (Bhatt, and Gupta, 2018).
Promotion: The promotion of the company is very important for earning revenue. The
products need to be advertised and displayed to potential customers. For this, the
advertisements are created based on the customer’s demands, pricing, age and gender and
many more if required (Henríquez, 2018).
After sale services: the after sale services are very important for a clothing and branding
company. There are many issues that get detected after the product is sold. The product
related issues are solved the marketing team as well.
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The company, Ben Sherman is actually heavily dependent on the marketing department. The
potential marketing work is done from there based on the product’s demands. The potential
customer and for making the product look attractive and available for the customers (Bhatt,
and Gupta, 2018). The main important marketing functions of the Ben Sherman are as
follows.
Market analysis: The market analysis of the Ben Sherman is absolutely advanced and correct
as per the need and requirements of the company. The marketing department is highly
efficient in this case. The marketing department is associated with marketing the products
after analysing the current market rate and the competitions in the market. The company must
gather important information from the existing market. The market analysis actually provides
a number of comprehensive pictures on the current market. This helps the company to
understand how to launch the product in market in an effective way (Bhatt, and Gupta, 2018).
The target of the company is to analyse the global expansion of the clothing. Except from
those, there are other needs such as effective promotional strategies to increase sale, people
preferences, market trends and target market analysis.
Market Segmentation: this is an act of dividing the market into various groups to carry out a
wide research on the current market trends and many more. There are groups based on
gender, age, preferences and pricing choices. All of these are equally important for the
marketing of the products in the company, it increases the financial status of the company as
well. The groups are associated with conducting financial research based on different market
strategies and trends. Apart from that, the promotional strategies are quite important to
maintain by the company which is dealt by these groups. This market segmentation strategy
helps the company to design their product as per the need of the customer, to set price as per
the customer’s choice, and chose place and promotional strategies keeping a particular group
in mind. This is quite an important strategy that is more likely to succeed (Bhatt, and Gupta,
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2018).
Pricing: This is quite an important strategy for the company’s product marketing. The price
of the product is considered based on the buyer’s interest. The clothing brand mostly targets
young people and the price is kept medium for their reliability (Grimmer, 2018).
P2 The roles and responsibilities of marketing relate to a
wider organisational context.
Importance of marketing in Ben Sherman:
In the Ben Sherman, marketing has immense importance. The role and responsibilities of
marketing in this company is to ensure success of the company. It is one of the most
important functional units in the company that is directly responsible for its success. Ben
Sherman has many functional departments such as production, finance, export, Human
Resource, merchandising and sales department. All of the departments have a common goal.
That is to increase the sales of the products manufactured by the company at various times.
The company’s marketing department provides a clear guideline to other departments
regarding their functions that can uplift the company’s sale. The marketing department of
Ben Sherman is responsible for maintaining a strong connection with other departments. The
marketing department analyses people’s preferences in products. It is directly connected to
the finance and accounts department as they are the in-charge of funding for every
promotional and marketing events and advertisements. Both the departments work together to
maintain consistency in business. They analyse the target customers as well by strong
marketing strategies (Bauer, 2018).
Structures and business operations of Ben Sherman:
The organisation helps in structuring various functions and operations in the business. The
product is launched based on its geographical reach and market demand. According to the
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Fayol’s organisation, there should be a correct structure on which the workability of the
organisation should depend. It depends on few principles of the company such as the
separation of responsibilities between departments, specialisation, authority and power. Ben
Sherman has actually structured its operations depending on the principle of expertise and
departmentalisation of functions in the organisation. This departmentalisation helps in
organisation the department to work together (Bauer, 2018).
Interconnection of the marketing department with other departments:
There are many departments in the Ben Sherman that acts upon the manufacturing, launching
and maintaining and marketing of the product. These departments work together and make
connection with the marketing department (Zahay, et. al., 2018). The inter connections are
discussed in this section.
Production department: This department of the company deals with the responsibility of
manufacturing products that can meet the customer’s need. The marketing department is
directly linked with this department in various ways. The marketing team researches on
various products and suggests the production team to make the product according to that.
This product is prepared and transferred for review from the marketing team as well. Both the
teams are helpful in satisfying the need of the customer. The current supply and demand is
fulfilled by both the teams (Bauer, 2018).
Finance Department: The financial department of the company is responsible for the
allocation of different functions in the workplace. During making of the company’s product
guidelines, the finance department and the marketing department work together on it. The
marketing department depends on the finance department for marketing of the products. The
finance department along with the marketing department deals with the research, promotion
and activities of the company during product marketing (Zahay, et. al., 2018).
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HR Department: The human resource department deals with meetings and supporting staffs
for the manufacturing of the product. The human resource department is also responsible for
recruiting efficient employees in the company to increase the manufacturing of the product.
The HR department gives permission to other departments to carry out researches on the
market to ensure the development of the company in product delivery. The HR department
also trains the marketing team to develop new strategies in the promotion of the products and
to increase the sale (Zahay, et. al., 2018).
Customer Service Department: This department mostly gets connected to every department
in the organisation. The Ben Sherman company is totally carefully about maintaining a
proper connection with the potential customers of the company. They collect customer’s
feedback and utilise them for the betterment of the product. The marketing team is informed
about the needs and demands of the customers based on the customer feedback. Moreover,
this department is highly beneficial for the marketing department (Zahay, et. al., 2018).
P3 Comparing the ways in which Ben Sherman and Barberry
apply the marketing mix.
The importance of Business Objectives:
In any established company, certain business goals and objectives are made to meet success.
The business objectives are cleared out for the assistance of the marketing of products and
services. The employees should understand the basic goals and objectives of the company in
reaching its highest point of sale of the products. The correct business objectives provide
clear idea on how to make the product delivery successful and smooth. The main business
objectives are to develop the company economically and socially. In both cases, the company
needs financial gains and need to earn huge amount of funds. The company also develops a
number of business strategies that helps in enhancing its profitability. The profit will increase
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only when the enhancement of the sale of the product will increase (Zahay, et. al., 2018). The
manufacturing of highly value-added products can bring more revenue in the company. By
increasing the sale, the profitability of the company also increases. The company should
always be ready to handle a number of potential consumers based on their needs and
demands. These are the objectives of the Ben Sherman. On the other hand, the objectives of
the Burberry Company are to earn more profit. They focus on the business growth and
development in faster pace in order to earn more profits. They introduce many business
strategies that help in the growth and development of the business in faster pace. Apart from
that, the company needs to maintain a proper intensity in the market in order to survive in the
competitive market (Nirschl and Steinberg, 2018).
Market Mix: This is a complicated and multidimensional function in the company. It focuses
on various business aspects of the company as well. It brings out the purpose of effective
marketing and aligns different business strategies at correct places. The concept of marketing
mix is applicable for planning promotion of the product. It involves 7Ps, such as; product,
price, place and promotion (Zahay, et. al., 2018).
Product: it is the item that is manufactured by the company
Price: it is the cost of the item that the customers need to pay to buy the product.
Place: products must be available in every place for the customers. It is important for
an organisation to distribute its products for the customer’s reliability.
Promotion: This is important to let the customers know about the product. This is
typically educating the customer about the benefits and other features of the products.
People: For a company, people (stakeholders) are quite important. Without them a
companies cannot run a business and make profit (Nirschl and Steinberg, 2018).
Process: The product should be produced and make it reach the customer by a proper
execution is very important.
Physical Evidences: it determines the services and perceptions about the products. It
is also a part of branding as well.
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Application of marketing mix: The application of the 7Ps of marketing can enhance the
growth and development of the business. Both Burberry and the Ben Sherman Company are
good in their marketing mix. They apply it strategically.
Application of Marketing Mix Strategy
Criteria Ben Sherman Barberry
Product Produces basically Casual wear
Young people are generally
attracted
Products are based on sections
Produces luxurious fashion
clothes and accessories for
people of every age.
A diversified product is sold
by them.
They denotes class and style
Price Price is somewhat relative to the
normal market price
Price is somewhat high still
they earn very good profit
Place Place products in every physical
and online stores
Every place has good customer
support and services
It has almost 500 physical
stores across 50 countries.
They are available on internet
business as well
Promotio
n
Both online and offline
promotions and branding is done
The company looks forward to
advertise their products in social
media
Promotes products through
high class sources like
magazines, TV and
newspapers and social media
as well.
People The employees and members of
this company are well paid and are
tarined properly who dress well
and are well mannered (Nirschl
and Steinberg, 2018).
Staffs and members are well
paid and are well trained, well
dressed and well mannered.
Staffs are experienced as well.
Process It follows efficient and faster
processes (Nirschl and Steinberg,
2018)
It follows effective, efficient
and faster business processes
(Nirschl and Steinberg, 2018)
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Physical
Evidences
It has a website and number of
physical stores with logo and
trademarks
The class of the company is
defined everywhere.
P4 Producing a Marketing Plan.
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Marketing plan of Ben Sherman
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Year Sales
2013 46863
2014 45990
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2015 44278
2016 41800
2018 35400
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Marketing plan helps in outlining the marketing strategies that ate sued by the organisations.
A marketing plan includes arrangement of several factors of marketing such as market
positioning, setting up goals and target and other such things. The ultimate goal of the
marketing plan is to achieve the set target for the company (McDonald and Wilson, 2016). It
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also includes the implementation of 7 P’s of marketing mix which is important for producing
a marketing plan.
Marketing plan helps the organisation to establish and enhance its brand image in the market
and to generate more profit. Marketing plan is a document that in-scripts important details
about the company, its marketing activities along with its position in the national and
international market.
Key elements of Marketing Plan
Ben Sherman is one of the biggest multinational companies that relied on producing
marketing plan in order to establish its position in the market. The marketing plan of Ben
Sherman helps the organisation to garner more brand value, while maintaining its reputation
and position in the market in the midst of tough completions from brands like Burberry (De
Mooij, 2018). The key elements for developing proper marketing plan are marketing
objectives, strategies, targeting, setting goals, monitoring and other such elements.
Market strategy- This is one of the most important part of the marketing plan. The marketing
strategies are different course of actions or events which must take plane to achieve the goals
and objective set by the company. The marketing strategies are also developed for dealing
with crisis that have arrived in the company.
STP- The segmentation, target and positioning determines different stages of planning for the
company. For example, this model suggests that the company should segment their market in
the beginning, then look for their target customers and create a loyal customers base. Finally,
the brand or the company should offer their products to the customers after analysing their
requirements and demands. Ben Sherman follows the STP model for identifying target
customers as well as to develop products as per their needs.
Goals and objectives- This process of the marketing plan determines the basis of the ground
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on which the plan would be built on (Gillespie and Riddle, 2015). The objective of the
organisation could be various types such as increasing the sales of the company, enhance the
brand value and image in the market and other such things.
Situational analysis- This part of the research strategy includes the research of the situation of
the market the company is operating its business in, its target customers, competitors, and
business challenges and so on. The situational analysis must include a clear state of the
current market place. The situation in the marketing plan can be analysed with the help of
external and internal tools like PESTEL analysis and SWOT analysis.
Resource allocation- This is also known as resource management, which is a process of
evaluating the resources that are already available such as human resources, hardware, budget
and others and to distribute it among different projects.
Monitoring and control- This process of market planning ensures that there are no resources
getting wasted in the course of the planning procedure. Threes hold be some control during
the planning as marketing control is the process of monitoring the plan and adjusting the
necessary aspect of it.
Conclusion
While concluding it can be said that the analysis of the marketing of the company along with
its interlink and other knowledge. The marketing department is typically the heart of the
company. It is the most effective department for a company that aims at high profitability.
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References
Bauer, T., 2018. Ethics, CSR and sustainability in marketing education. In Redefining
Success (Vol. 73, No. 85, pp. 73-85). ROUTLEDGE in association with GSE Research.
Bhatt, R.K. and Gupta, D., 2018. Essentials of Marketing Management in LIS. Library
Philosophy & Practice.
Blythe, J. and Martin, J., 2019. Essentials of marketing. Pearson UK.
Campbell, R., Martin, C. and Fabos, B., 2018. Media essentials: A brief introduction.
Bedford/St. Martin's.
Grimmer, L., 2018. Convenience and service key essentials of retailing: Interview with
Jennifer Stackhouse.
Henríquez, F.A.G., 2018. Destination marketing essentials.
Hugos, M.H., 2018. Essentials of supply chain management. John Wiley & Sons.
Nirschl, M. and Steinberg, L., 2018. Einstieg in das Influencer Marketing. Grundlagen,
Strategien und Erfolgsfaktoren. Wiesbaden: Springer Fachmedien.
Zahay, D., Altounian, D., Pollitte, W. and James, J., 2018. EFFECTIVE RESOURCE
DEPLOYMENT IN DIGITAL MARKETING EDUCATION. Marketing Education Review,
pp.1-11.
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