Marketing Essentials Report: Nichols PLC Marketing Analysis

This report provides a comprehensive overview of marketing essentials, focusing on the key roles and responsibilities within the marketing function. It examines the interrelation between various marketing functions, such as market research, HRM, production, and sales, highlighting their coordination to achieve organizational objectives. The report delves into the application of the marketing mix, comparing different approaches to marketing planning and its impact on business objectives. It analyzes market planning strategies, using Nichols PLC as a case study, covering brand promotion, market research, product innovation, and customer relationship building. The report also explores the importance of market expansion and product innovation to meet customer demands and maintain a competitive edge. The discussion includes various marketing tools and techniques, such as product management tools, analytic tools, and automation marketing tools. Overall, the report provides a detailed analysis of marketing strategies and their practical applications, offering valuable insights for understanding and implementing effective marketing plans.

MARKETING
ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1 key roles and responsibilities of marketing function...........................................................1
P2 interrelation between marketing functions.............................................................................4
LO 2.................................................................................................................................................6
P3 Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives.......................................................6
LO 3.................................................................................................................................................9
P4 Market planning in coco cola. ...............................................................................................9
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing concern with various activities that are undergoing by a company to promote
the buying as well as selling of a product of service. it includes advertising,selling also the
delivery of the products and the services to the costumers .marketing means the focus on the
invention of the products and meet the requirements of the customers through its product.
marketing is a term which is related to the science and arts of making developing ,exploring as
per the target needs of the market at the profit. it is a process which can identify the
opportunities,choose target markets and also develop the appropriate marketing mix as well as
managing the efforts of the marketing .in marketing leaders use the different environment
analysis which is related to the micro as well as macro levels. present report lay emphasis on the
Nichols plc, ,united kingdom 's marketing role and responsibilities related to the marketing
function and to the organisation context such as demands of the customers. in addition to this,the
difference between the 7P's of the marketing mix is also mentioned. this report set the objectives
as well as the strategies to perform the marketing plan for the company .report can also
mentioned about the allocated resources,tools and techniques that will help to create marketing
strategies.
LO 1
P1 key roles and responsibilities of marketing function.
maximization of profits-this is the most significance issues of marketing .it can determine the
input and output level ,profit that can leads to the profit up to an extent of the company .for
example Nichols plc company has thousand of the branch all over the world with huge number
of the employees(Gummesson,2017).when profit of the company increases it will automatically
increase the reputation of the company and the investors take interest in the company for
investment.
brand promotion-promotion of the brand has its own importance . there are four types of basic
promotion i,e adverting,personal selling and sales promotion and advertising,publicity. through
promotion product can be recognised easily by the customers as well as it is easy to remember
the product ,as promotion such as advertising of the products through the recognised
face ,advertisement through the social media such as you tube,Facebook etc. the brand reputation
in the company is the most significant part the marketing function helps the company to increase
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the brand awareness in the people through which the company gets to know about the brand in
the company.
brand value - brand value is a crucial part of every company. it mention the values of equity
which impact the mind of the customers. plays the essential role in changing the thought process
of the consumers that the product sold by the Nichols plc company is differs in terms of quality
and taste and beat the competitors in the market. it creates the loyalty towards the product. brand
value makes the product available to the customers. for example Nichols plc is a brand which
makes its unique brand value in terms of taste. The value of the brand in the company measures
the standard of the brand among the peoples.
market research- market research is concerns about the new trends,digital tools,strategies are
introduced in the market. there are various market tools given below
 product management tool-various software such as project tracking (slack),user feedback
for the views of customers ( tools like survey monkey) are useful. analytic tools for
example- google analytics. that are essential for our product success(Brychkov and
Domegan, 2017) . automation marketing tools- managing as well as controlling as all the process through
the digital marketing strategy .such as email marketing,landing pages,content writing are
all in one platform tools. Hubsport is taken as the automation marketing tool.
 product information tools- PIM system which came under the digit solution allow the real
time collecting as well as storing and analysing and also distributing all the products
content where products are published. such as channels,marketplaces. it becomes the
most essential for the creation of offline and online such as catalogs,price listing etc.
market expanding-this strategy provides various kind of methods that sellers can uses as well
as expand their business .retailers also evaluate and analysis what is profitable for their business.
it is the market expansion strategy which can helps the Nichols plc company to determiner the
best approach to offer the market to larger no of people .this can be done on the basis of two
ways. selling new products and selling more and more two the existing product. both of these
approach requires a different approach to accomplish the sale. sell of existing products- with the help of the new pricing strategies ,promotions as well
loyalty programs .here increased the customer which can purchased the product first time
also by testing and analysing the various ways to encourage repeat purchases from the
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customers. for example -company can invest in software so that they can track more
easily the desires of the customers .third way is to expose the product to new people also
came in the expand to new markets such as retailers of the Nichols plc can open a new
physical stores or they can expand new geographies(Kennedy, 2016). enhancing the
current product sale is more more easy and least risky because company can already the
base of the customer.
 sell of new products- by introducing new products retailers can update their existing new
product companies like apple introduce new phone ever year with new versions ,new
features,so customers continuously curious about their new product .this can increase
new sales. With new product the company increase its product varieties in the
oprganisation which makes sale of the company to reach at higher level.
 secondly company can introduce new products with the complement of the
existing products .for example company can already sale cold drink with the
complement it can sale the small packet of chips. this is an opportunity which can
increase new customers sale.
innovation of product-customers need more innovation day by day .they are more demanding.
they need new and unique features. it doesn't matter that innovate a product entirely different but
add little change or change in the small details of the product is the continuous improvement.
innovation leads to the substantially improved good and services such as technical
specification.product innovations has its own functionality or it can develop new technology. in
doing so ,manufactures can tries every time new as sometime it became the disaster. here to
prevent the loss of profits in long duration of time new production be replaced from old products.
product testing is also involved in this process .new product is the initial step before the product
of the life cycle. there are some disadvantage of the product innovation such as counter effect of
production which includes the substitute various sources to create the innovation of the
product ,through this could have the opposite effect of what business is trying is do. here high
cost as well as high risk of failure is also there. Nichols plc introduce new product vimto with
small changes but at the greatest change(Nowak and et.al., 2015). innovation takes the company
to the higher perspective in the market. With innovation the company is able to stand in the
market with confidence to face the challenges in the market.
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the first type of the innovation involves the new product which can introduce new
technologies .if we take the example of new i phones they introduce more pixels screen display.
relationship building -relationship are the currency. it is crucial for the communicate rapidly
and also vary the types of messages that will be send. relationship building involves the face to
face communication,email direct phone to keep moving the sale within the organisation .Also
offer reward to the customer the customers they can switch from from program to program to
get the new levels rewards .when it comes to the consumer relationship listening is very
important .use each and every tool to create more interaction ,also with the feedback from the
websites and also with the online as well offline survey. one of the best approach to add values
and stand out from the market competitor is to have best customers services(Kotler and et.al.,
2015).
add multicultural languages translation for the advertising of the product as everyone
appreciate marketing communication in their own languages,which they easily understand ,in
addition to this visit the trenches ,as it important go beyond the sales call and make the
relationship with the top of the customers and can help them .it is an eye opener technique and
also a great way to build the long lasting relationship.
P2 interrelation between marketing functions.
Marketing functions in the organisation are interrelated to organisational units which
define the way in which they plays a significant role in the fulfilling the responsibilities towards
the other functions of the organisational unit. The success of Nichols plc company depends upon
the coordination between the department of the organisation. The different departments of
organisation are finance, administration, sales, production, research and HRM department.
MARKET RESEARCH AND HRM DEPARTMENT: research department of Nichols
plc company had responsibilities to efforts closely to research about the success of the product
in the market of the U.K. The company had the role to interfaces in many ways to develop the
new product to achieve the organisational objective(Kotler and et.al., 2015). Research is
responsible for the development of the product from idea generation to is introduction in the
market. The main role of the department is to bring new innovative product in the market. Its
helps the company to compete with the innovative ideas from the rival companies of the Nichols
plc in the market. Market research department is dependent on the HRM department for the
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recruiting the new employee in Nichols plc company which can bring new trend and innovative
idea for the company.
HRM department of the company had role and responsible for the recruitment of the
candidate who are eligible and to analysis the performance of the employees. The role and
responsibility of the department is to provide training to the employee in the particular fields and
develop the skills by making them to participate in various beneficial programs(Lovelock and
Patterson,2015). Through HRM the company communicates with its employee to make better
relation with employee which benefits the company to get positive feedback from the employee
which in return will increases the organisations overall performance. The market research
department is interrelated to the HRM department as it provide help in the search of the suitable
candidate who can lead the company to the heights.
PRODUCTION AND SALES DEPARTMENT: Production department focuses to
produce the product which consumer demands more in the market. Roles and responsibilities of
the department in company is to produce the product which consumer prefers to buy due to its
unique feature from other products in the market like Nichols plc company prepares vimto from
the leaves and the nuts which remain secrete of the product in the market by improving the
quality of the product company can attract many customer which creates the sense of satisfaction
for the customers toward the brand. The sales department is related to the production department
as through the sales of the product the production department gets to know the scale of
economies for the production of Nichols plc to be done(Kotler and et.al., 2018).
Sales department is responsible for the selling of the product in the market. Sales
department in Nichols plc company had the role to know the demand for the product and
understand what the consumer wants in the product. Various promotional tools introduced to
attract the consumer towards the vimto, the tools that the company can use are through
advertisement from TVs, radios, banners, news papers, etc. sale department attract its customer
by acknowledging the consumer about the product that not harm the health of the consumers like
introducing diet drinks to the consumers who are more health conscious. Special schemes and
offers can be given on the product to give which helps to increase the sale of the company. Sales
department is responsible for the promotion of the brand in the market the company has not build
its reputation over night it has experience of many years in the market. The production
department is related to the sales department it helps to know what consumer wants in the
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product or which feature can be added to the Nichols plc to create new consumers in the market.
The products will be manufactured according to the sales department needs. Production
department makes modification in product and with the introduction of the new technologies it
can increase the production of the product which will increase the sales of the product in return
the company can earns more revenue(Kerin and Hartley, 2015).
FINANCE AND ADMINISTRATION DEPARTMENT: Finance department is
responsible for providing funds to the different department in the Nichols plc company. Like the
company wants to invest in other company to increase its revenue and earn profit. The fund is
require to purchase the new machinery in the company which can increases economies of the
scale and company can produce in less time. The finance department play the very important role
in the organisation because all the activities that operates by the company needed the
requirement of the fund weather to purchase the raw material or to give salaries to the employee.
The finance department plays key role in maximisation of the profit, the Nichols plc company
had expended its branches from all overall the England(De Mooij, 2018). The administration
department is related to the finance in terms of getting the information related to the finance that
is being properly used by the company and to determine the profit and turnover by the company.
Administration department can advice where to invest the fund by analysing the financial
statement of the company.
Administration department is responsible to helps to assess all requirement that company
should be fulfilled easily. Administration department keeps and manges all the activities of the
company and if the problem arises the department is responsible to resolve all the problems of
the company. The management of all the department and checking the proper functioning of
different departments depends on the administration department. Like if the company faces the
problem of not getting the vimto leaves from the farmers on time the administration department
get report and it evaluates the different situations through which the company can resolve the
problem(Shaw, 2016). The strategic planning and the company objectives are prepared by the
top management in the company. The finance department is related to the administration
department as it provides the finance department to manges its funds in the organisation on
different functional areas of the company. Finance department can manage its fund and invest it
in different market to increase the market share of Nichols plc company in the U.K.
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LO 2
P3 Compare the ways in which different organisations apply the marketing mix to the marketing
planning process to achieve business objectives.
BASIS NICHOLS PLC COCO COLA
product vimto brand cola,froozie
frozen drink, coffee
mocha ,slurp milkshake
it follows branding strategy
which is more than a logo or
as a company name ,it stands
for the a promise that Nichols
can make and convey the
personality. that means it
follows the creative elements
to make the brand more
colourful ,easy
recognisable,reduce the parity
product as confusion(Lovelock
and Patterson,2015).
soft drinks,diet carbonated
drink,fruity juices, fruit
smoothies ,mineral
water,energy drinks such as
coco
cola,fanta ,Kinley,Maaza.coco
cola focuses on the
"individual" and not the "
organisation".the brand
promise of happiness and
sharing keeping individual
focusing .coco cola have great
content to support their cases
such as every commercial
connects with the costumers at
their level involves great
planning and creativity.
price it implements competitive
pricing strategy, follows
competitors based
pricing .various prices of
various soft drinks are equal
to the coco cola .it is very
flexible brand can change its
price according to the season.
coco cola can follows the
skimming based pricing
Skimming pricing -it is an
strategy where company
charges the highest price at the
initial level of the product and
then lowers the price timely as
per the requirement.
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competitive price strategy
includes the setting the price at
the same level as the other
competitors in the market.
benefits-it can prevent the loss
of the customers as well as
market share to the rivalries. it
is one of the most crucial
competitive pricing advantage
which ensures to response the
each and every move of the
competitors(Kotler and et.al.,
2018).
benefit-it helps to quick
recover the price of the
product. top segments off the
first with the highest price.
customers who are rich
associated with high prices and
company generate the
maximum revenue.
place basically united kingdom more
followed this.
Indirect and direct both
distribution channel-where
direct channels allows the
customers to buy the products
directly from the
manufacture .while indirect
distribution channel provides
distribution from the other
distribution channel to get the
consumer.
all over the world,also uses the
spoke model of distribution in
rural area
Direct distribution -here the
product is directly get from the
manufacturer unlike the
indirect ,where people can
direct go to shops and
purchase the product. benefit-
by interacting directly to the
customers retain control over
the product as well as is
performance .it can allows the
valuable collection of data on
the consumers purchasing
habits.
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promotion use social media platform
such as Facebook,you tube
promotes the brand as well as
product. it can address the
range stakeholders which can
include the current and
potential staff members(Seven
P's of marketing mix, 2019).
TV advertisement are most
dominant one t.v reaches to the
large no of audience compare
to the newspaper and radio
stations ,and it also do in thus
short period of time. it can
reach through the audience
when they are more attentive.
people employees gets motivation by
getting attractive salaries and
incentives they provide
opportunity to lead the team
and also share the positive
feedback. food can offer to the
employees in the workplace.
here provides an opportunity
to grow .,also set the smaller
goals for the staff members so
that they grow and productive
to the company
Employees get job security,
travel announces, free or
discounted health check-up.
they provide motivation
individual rather than the team
member.
they provide flexible working
to the employees as employees
can balance their professional
and personal life.
process problems of consumers resolve
through website, where people
get the feedback of the queries
immediately(De Mooij, 2018).
distribution channels focused
largely on the every possible
retailer.
problems of consumers can be
solved through various online
apps where they give their
feedback have manufacturing
industries mostly all over thee
world sales as well as
distribution channel focusses
mainly to the restaurants and
the departmental stores.
physical evidence logo, infrastructure are very colour of the logo is same as
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admirable as well as attractive
for all the generation of the
people.
full facilities for every
generation of people.
creative packaging of the
product attract all of the
people .
from past years but it gains the
trust of the people from all
over the world.
here infrastructure is also
creative .they renovate time. to
time as per the requirement of
people and business as well
product image and brand value
of the company(Baker, 2016).
LO 3
P4 Market planning in coco cola.
EXECUTIVE SUMMARY
Nichols plc company is the well defined trade mark in the minds of people on the
England. The company produces around different brands in all over the England. The company
is able to satisfy its customers as it provides wide range of different products to all the customers
of different age groups. The company sells its product in many countries and had became the
recognised brand(ATuten and Solomon, 2017).
COMPANY INFORMATION
Nichols plc company is an soft drink company of U.K. Its brand vimto soft
drinks are famous in the England. vimto is an fruit flavoured drink cordial. The new inventive
idea of vimto was introduced by the John Noel Nichols in year 1908. the company operate its
soft drink in all over the U.K. Cabana is its largest supplier in the U.K. With the success of the
vimto drinks the company also expanded its product vimto chews and vimto chew bars.
OBJECTIVE
The company aims to achieve the object make its brand reputation known as
globally by 2020. The company expands its branches of vimto in the near by localities as many
as possible.
SWOT ANALYSIS
STRENGTHS WEAKNESS
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