Marketing Report: Mix, Competitive Challenges, & Global Expansion

This report provides a comprehensive overview of marketing, starting with an understanding of the marketing mix (7Ps) and its application in businesses like Mark & Spencer. It examines how marketing aids businesses in addressing challenges within competitive markets, using TESCO as a case study for SWOT analysis. The Ansoff matrix is employed to identify marketing solutions for specific business challenges faced by TESCO, suggesting market penetration as a viable strategy. Furthermore, the report discusses how companies can leverage global marketing to achieve international growth, highlighting the importance of adapting strategies for diverse markets. The conclusion emphasizes the crucial role of marketing in fulfilling consumer needs and driving economic growth, both domestically and internationally.

Introduction
to
Marketing

Table of Content.
INTRODUCTION...........................................................................................................................1
MAIN BODY3.................................................................................................................................1
Demonstrate an understanding of the marketing mix..................................................................1
Explain how marketing helps business and address challenges in competitive markets:............2
Identity marketing solutions to address a particular business challenge: ...................................3
Explain how a company can use marketing to grow on a global scale:......................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing is defined as the process that helps a business to promote their products and
services in such a way that the product can reach to its potential customers in order to meet their
needs. This process includes activities like exploring new products and services according to
their target market and customers, then creating and delivering that commodity into the market.
In report will be brief discussion on marketing an its 7p(s), in addition to this it will also include
SWOT analysis, Ansoff matrix, and methods used by a company to enter into a new market.
MAIN BODY
Demonstrate an understanding of the marketing mix
Marketing:
Marketing means making target customers aware about a product or a service introduced
by a business in exchange for a value. This is considered as the a process of exploring, creating,
presenting, supplying and offering deals to the consumers in order attract them to buy the
products and services. This can be noted that it consists of four major elements which are
discussed below:
 Creating: this activity is about cooperating with the dealers of the material required in
creating the product in exchange of it's value.
 Interface: here the marketing managers communicates with the consumers through
marketing and learn from the feedbacks of the customer.
 Delivering: providing offers to customers to procure of the value of the product.
 Exchanging: exchanging values in exchange of the offers.
Marketing mix:
This strategy consists of 7ps that are explained below:
 Product: it is referred as tangible or intangible product that is being sold by a business
(Deepak and Jeyakumar, 2019).
Taking Mark and Spencer into consideration is a business that deals in various product lines and
have managed to trade globally and it's products are known by many consumers.
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 Place: this strategy helps an organisation to decide its distribution channels. It assists the
business to make its products or services easily available to the customers through their
distribution channel.
e.g., M&S have used all the necessary strategies that have made possible for its customers to
easily get access to it's products.
 Price: this term is referred as the value of the product that a customer is willing to pay
in its exchange (Gillespie and Swan, 2021). Value of a product is decided in such a
way that it can cover the cost occurred along with getting desired return on investment.
For example: Mark & Spencer motto is to provide such products that can be available to
customers at affordable prices.
 Promotion: this activity helps in making the product known by the target consumers
through advertising, direct marketing public relation and many more other methods.
e.g., M&S know globally by it's customers.
 Physical evidence: this process consists of strategies that proves it's existence through
its logo or packaging methods and many more other methods.
For example: there many outlets M&S available globally.
 People: it involves people that are directly or indirectly involved in the business(Jain
and Jain, 2018). It is important as any business needs workforce to carry it's
operations.
In context to the company the mangers of M&S have managed to overcome many changes with
time.
 Process: it includes all the process required throughout the process of making and
reaching to the customers.
For example: the structure followed by Mark and Spencer is pro-efficient.
Explain how marketing helps business and address challenges in competitive markets:
The business taken into consideration for the SWOT analysis is TESCO:
SWOT Analysis
Strength:
 Turnover: TESCO was able to
recover its losses in a short
period of time with the help of
Weakness:
 Change in leadership: it may be
considered as it's weakness because
Dave Lewis's leadership is been
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it's financial managing
strategies.
 Performance during Covid-19:
the respective business was able
to introduce such innovative
strategies that helped them
overcome the challenges they
were facing in the beginning of
the global pandemic
replaced by Ken Murphy this might
have negative influence on operations
of the business.
 Quality: Tesco looks after the process
of checking the quality of it's products.
Although, as it is one of t he largest
supermarkets in UK it consists of many
products that makes it challenging to
keep check on all the products.
Opportunities:
 Online sales: Tesco introduced online
sales during the time of global
lockdown and it is proven to increase
it's sales since then as it is more
convenient for the customers to order
online and have their groceries
delivered to their doorsteps.
 Unemployment rates: due to the
unemployment the respective company
can use this as an opportunity to help
in the economic problem as well as
appoint more workforce.
Threat:
 Brexit: this can be considered as a
threat because TESCO deals in EU as
well and this issue can effect the
smooth functioning with supplies.
 Competition: this is also one of he
concerns of the respective company as
the competitors are continuously
thriving in order grow their business.
Tesco is undoubtedly using all the strategise required for it's survival in the ever changing
market place. Although it's managers must also keep looking for all the possible opportunities in
future and convert it into it's strength. Along with this it's mangers must also try to focus over
it's weaknesses and threats and try eliminate them as much as possible
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Identity marketing solutions to address a particular business challenge:
The following article will be a discussion over solution to particular challenges faced by
TESCO. This is being achieved using the Ansoff matrix this will help analyse the
implementation of market penetration, product development, market development and
diversification as strategies. The managers choose one of the strategies that can help the business
grow and expand it's operations over the time.
Ansoff Matrix:
Market penetration strategy: This strategy is about selling the existing product in the existing
markets. Tesco operates globally as it has been able to expand its operations since it's initial
years. It helps in increasing market capture through the products used by the existing consumers.
The competitive pricing strategies and advertising campaigns are helpful components that
efficiently helps in market penetration strategies (Dawes, 2018). Although the the offers attract
more customers but it results in little less profit margins.
Market development strategy: this marketing strategy includes activity like, selling existing
product into a new market or a geographical territory in a effective manner. Tesco initially
started its operation in UK and now it is present and operates in many different countries. Tesco
is still expanding and introducing their products and services in those region where it does not
exist.
Product development strategy: this activity is about selling new products in an existing market.
TESCO have also introduced some products and have sold them using its labels in their existing
markets.
Diversification strategies: generally this strategy focuses over selling new products into new
market. This is considered as the most difficult strategy when it comes to execution, this is
because different factors like consumers taste, trend, and availability of substitute products in the
existing in the new market can impact the sells of the new product negatively or positively.
From the above discussion the strategy suggested for TESCO is product penetration, the
reason being that TESCO can introduce a new product in the market where it already exists as
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the managers can understand the wants and needs of customers in that particular region. After
studying and learning the requirements of the market the managers can focus over the product
that can be introduced in that market that can help the business grow and expand it's product line.
Explain how a company can use marketing to grow on a global scale:
In order to grow a business globally the business leaders tend to prefer global marketing.
This helps a business to promote their products into the global market and make people across
the world aware about their existence and as well as their product (Thabit and Raewf, 2018).
This must be noted that this type of strategies only are chosen by the large scale businesses
because it requires a lot investment. Although, small businesses can use the social media
platforms, online tools and websites as a tool for global marketing on the other hand large scale
companies implies these strategies via their representatives, employees and operations in the
other regions (Viswanathan and Sreekumar, 2021).
Importance of Global Marketing:
 It can provide the business with new opportunities
 Helps them create reputation and make their brand known in different countries
 It helps business to learn new facts about their products through customer feedbacks that
can in adjusting in the market.
CONCLUSION
From the above report this can be concluded that marketing plays a very crucial role for
any business involved in providing goods and services to consumers to fulfil the consumers and
economical needs of a country. Furthermore, this can be also noted that a business can grow their
business internationally through global marketing to get global recognition. This report was a
detailed discussion on marketing and its 7ps in addition to this it also included SWOT analysis
and Ansoff matrix along with the concept and importance of global marketing.
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REFERENCES
Books and Journals:
Dawes, J., 2018. The Ansoff matrix: A legendary tool, but with two logical problems. But with
Two Logical Problems (February 27, 2018).
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Gillespie, K. and Swan, K.S., 2021. Global marketing. Routledge.
Jain, M.R. and Jain, S., Analyzing and Exploring the Effectiveness of Each Element of 7Ps of
Marketing Mix.
Thabit, T. and Raewf, M., 2018. The evaluation of marketing mix elements: A case
study. International Journal of Social Sciences & Educational Studies, 4(4).
Viswanathan, M. and Sreekumar, A., 2021. How global marketing can be more global and more
marketing: A bottom-up perspective from subsistence marketplaces. Journal of Global
Marketing, 34(4), pp.282-291.
(Dawes, 2018) (Deepak and Jeyakumar, 2019) (Gillespie and Swan, 2021) (Jain and Jain, 2018)
(Thabit and Raewf, 2018) (Viswanathan and Sreekumar, 2021)
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