HND Business Unit 2: Marketing Planning and Processes Assignment

This report, submitted by Nguyen Thi Quynh Lien for the BTEC Level 4 HND Diploma in Business, Unit 2 Marketing Planning and Processes, analyzes the definition and basic concepts of marketing, key roles within the marketing environment, and the interrelationship between marketing and other business functions. The report uses the Merriman product, a premium men's fashion brand, as a case study to illustrate these concepts. It covers the marketing process, identifying customer needs, defining target markets, and developing integrated marketing strategies. The analysis includes discussions on the macro and micro environments, competitor analysis, and the importance of customer relationships and satisfaction. The report highlights how marketing contributes to revenue generation and the importance of adapting to the ever-changing market to achieve competitive advantages.

MARKETING PLANNING AND PROCESS
ASSIGNMENT 1
ASSIGNMENT 1 FRONT SHEET
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NAME: NGUYEN THI QUYNH LIEN
ID: GBD210246
WORD COUNT:WORDS

Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 2 Marketing Planning and Processes
Submission date 09/12/2021 DateReceived1stsubmission
Re-submissionDate DateReceived2ndsubmission
Student Name Nguyen Thi Quynh Lien Student ID GBD210246
Class GBD1001 Assessor name Pham Thi Huyen Trang
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that
making a false declaration is a form of malpractice.
Student’s signature N
guyen Thi Quynh Lien
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Table of Contents
I. Introduction...........................................................................................................................................5
II. The definition and basic concept aboutmarketing...........................................................................5
2.1 The definition..................................................................................................................................5
2.2 The basic concept of marketing...................................................................................................5
III. Key roles of Marketing in the context of Marketing environment.................................................8
3.1 The marketing process..................................................................................................................8
3.2 Key roles of marketing...................................................................................................................9
3.3 Marketing environment................................................................................................................10
IV. The interrelationship between marketing function and other functions....................................12
V. Conclusion.........................................................................................................................................13
VII. References.......................................................................................................................................14
Table of Figures
Figure 1: Merriman Product.......................................................................................................................5
Figure 2: The Five Marketing Concepts.....................................................................................................6
Figure 3: Five Steps Of Marketing Process ( Anon., 2017).......................................................................8
Figure 4: Macro Environment...................................................................................................................10
Figure 5: Micro Environment....................................................................................................................11
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I. Introduction
As a speaker let students know marketing as an attractive career option for students' future orientation.
Today's ever-changing market is also a competitive environment in which businesses must compete to
thrive. In this highly competitive industry, organizations must constantly absorb and stay up to date with
the latest market trends to gain an edge. Marketing efforts are one of the ways for businesses to
approach the competitive environment. The marketing department will assist in taking advantage of its
advantages and resources to contact consumers, develop brands and increase competitiveness. This
article will be evaluated according to the following criteria: (II) Definition and basic concepts of
marketing, (III) The main roles of Marketing in the context of the marketing environment, (IV)
Relationships between the marketing function and other functions. In the following report, the
most detailed analysis of marketing for Merriman, Hoa Tho Garment Corporation's premium men's
commercial fashion firm, formally introduced to the fashion-conscious market in December 2011.
Figure 1: Merriman Product
II. The definition and basic concept aboutmarketing
2.1 The definition
The book's definition of marketing "Marketing, in a nutshell, is the attraction and management of the
connections that the attraction, as well as the management here, establish." Marketing's goal is to
provide value for consumers so that they may gain value from them (Kotler, et al., 2017). Another
definition of marketing is “Marketing is the activity, collection of institutions, and procedures for
generating, conveying, delivering, and exchanging items that have value for consumers, clients,
partners, and society as a whole” (AMA's, 2021). Overall, can see that marketing takes advantage
of people's various requirements in order to transform them into a profit opportunity.
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2.2 The basic concept of marketing
According to the article Bringing the Concept of Marketing to Higher Education: "For most
individuals, the term marketing refers to a specific economic activity. Many people associate it with
selling. Even those who embrace marketing in a broader framework, that is, determining and
responding to the wants and wishes of their clients, nearly always regard it as a commercial activity.
On the contrary, it is a widespread social activity in which all sorts of organizations are involved and
must normally participate."
However, the notion of marketing is far more significant than the term that most people
comprehend. Because marketing may also impact how a corporation or company operates and how
it might increase revenues and growth. Furthermore, it seeks to recognize and meet the demands
of consumers in order to benefit both the firm and the customers. Because there are five marketing
concepts in all, including production concepts, product concepts, sales concepts, marketing
concepts, and social marketing concepts. As a result, the organization must pick carefully so that
the concept best suits them, and then apply, utilize ideas, and scripts to build this concept more
impressively. (Kotler, et al., 2017).
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Figure 2: The Five Marketing Concepts
The marketing conceptwith the product concept and selling concept
Concept Marketing concept Product concept Selling concept
Definition The marketing
concept may grasp
that anorganization's
ideas, if it wants to
reach its aims, must
depend on many
variables such as
market needs, market
want, and achieving
Consumers will
frequently care and
support items with the
highest quality,
features, and
performance, as the
product idea clearly
demonstrates. As a
result, the business
According to (Kotler,
2020), When it
comes to the notion
of sales, people will
not buy enough of
your items unless
you make a
significant sales and
marketing effort.
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better than rivals
pictures. It is a
"outside-in"
perspective (Kotler,
2020).
should commit time
and effort to
continuously improving
the product (Kotler,
2020)
Advantages -Alignment with the
Customer(Kokemuller,
2020)
- Flexibility(Kokemuller,
2020)
- Quality above
quantity(Parikh, 2019)
- Irrelevant aspe(Parikh,
2019)cts
- Consumer interests are
disregarded(Parikh, 2019)
- Assists the business in
increasing sales(Parikh,
2019)
- Emphasizes marketing
and selling(Parikh, 2019)
- Eliminate Stock
Backlog(Parikh, 2019)
Disadvantages - Technological
Progress(Kokemuller,
2020)
- Production
Effectiveness(Kokemuller
, 2020)
- The majority of buyers
are price sensitive(Parikh,
2019)
- IgnoresCustomer
Recommendations(Parikh,
2019)
- Aim for the Short
Term (Parikh, 2019)
- Ignores customer
demands(Parikh, 2019)
- Ignores customer
feedback(Parikh, 2019)
- Takes a short-term
approach(Parikh, 2019)
Ø The marketing concept definition demonstrates the significance of the marketing department.
They assist the firm in analyzing the demands of its consumers in order to offer items that
best suit the market, as well as greatly increasing the company's competitive rate.
III. Key roles of Marketing in the context of Marketing environment
3.1 The marketing process
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Figure 3: Five Steps Of Marketing Process
The marketing process consists of five processes that strive to create and capture client value. As a
first step, the corporation must learn about and comprehend the market, as well as the demands and
desires of its clients. Following that, the organization must develop a marketing plan based on
customer value. Following the development of the marketing strategy, we must continue to develop an
integrated marketing program that will provide exceptional value to the organization. The most
essential thing is to acquire consumers, develop lucrative partnerships, and satisfy them. Finally, in
order to produce profit and owner equity, the organization must collect value from its consumers. They
may collect value from customers in the form of sales, earnings, and long-term client equity by
producing value for them (Kotler, et al., 2017).
3.2 Key roles of marketing
Based on the 5-step marketing process, we can see the importance and role of marketing for
businesses, customers, and society. The roles of the marketing department are clearly shown as
follows:
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 Marketing has a part in identifying client demands and needs. Furthermore, after understanding
such desires, the marketing department develops tactics to target and boost client
happiness(Kotler,et al., 2017).
Ø Applied to Merriman: The marketing department performed a poll to better understand the
pain that most office workers are experiencing today, which is that their work clothes are too
tight and the material is difficult to absorb. As a result, the marketing and manufacturing
research departments collaborated to develop product lines that are comfortable in terms of
materials, forms, and even colors. Merriman's fabrics are made entirely of cotton and linen,
allowing for optimal breathability and sweat absorption while worn. Merriman, in particular,
made a difference and was well appreciated by the public with the publishing of an unique
patent, certified for intellectual property on 4 cm stretch tangdor trousers for men with belly
fat(NhandienhangVietNam, 2017).
 Marketing is very important in finding target clients. Marketing will then study the market and
identify the ideal customer to best serve customers. Finally, marketers must agree to make the
appropriate judgments in order to satisfy customers(Kotler, et al., 2017).
 Marketing is responsible for establishing and implementing the planned value-integrated
marketing strategies to fit with the clients they have identified as their target market. Marketing
must also include product, pricing, location, and promotion factors. This section has helped to
provide the desired value for customers to pick from (Kotler,et al., 2017).
Ø Applied to Merriman: Merriman's marketing staff has done an excellent job of identifying the
primary clients, who will be guys working in businesses and offices. Not only that, but fashion
style guidance through online marketing channels, membership card program to develop a
relationship between customers and the company, appreciation programs, birthday
incentives, and many more. Other incentive schemes improve the shopping experience for
customers(NhandienhangVietNam, 2017)
 Marketing also includes relationship development and consumer satisfaction. Customer
marketing has added value by focusing on client happiness, customer acquisition, and the
management of lucrative relationships in order to cultivate loyal customers (Kotler,et al., 2017).
Ø Applied to Merriman:Despite the fact that it is a high-class men's fashion product of
exceptional quality, Merriman always gives a price that is appropriate for the desire that
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every client possess a high-class fashion style. When Merriman understands the psychology
and desires of consumers when it comes to purchasing work clothing, this may be called a
partnership that benefits both customers and companies. Merriman can then attract a
specific amount of loyal clients
 Finally, marketing contributes to the creation of revenues for organizations through capturing
customer values. When a customer purchases a product and is satisfied with it, the corporation
has built a long-term profit stream (Kotler,et al., 2017).
3.3 Marketing environment
The term "marketing environment" refers to the impacts or factors of a company's external and
internal environment that influence marketing management's capacity to establish and sustain
flourishing connections with customers. Thus, the marketing environment is divided into two parts:
the microenvironment and the macroenvironment. Inside:
 Suppliers, delegates, consumer markets, the public, competitors, and marketing
intermediaries are examples of microenvironmental elements that are near to the firm. The
microenvironment is also connected to the organization's internal environment and
influences marketing as well as all departments such as management, R&D, finance, Human
assets, buying, operations, and accountants(Studiousguy, 2021).
 The company's macroenvironment is an uncontrolled issue. As a result, it must organize its
policies within the constraints imposed by these considerations. The macro environment
relates to the market's demographic, economic, technical, natural, socio-cultural, and
political-legal characteristics. Let's take a closer look at these elements(Studiousguy, 2021).
Macro environment
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Figure 4: Macro Environment
Economic: 2020 will be a very tough year for Vietnam's textile and apparel sector, as the market will
see numerous intricate and unpredictable variations, according to the newspaper. For the first time in
20 years, the export value of textiles and apparel fell, reaching just 35 billion USD, a 10% decrease
from 2019. One of the industries affected by the Covid-19 outbreak is the textile and apparel
industry.The tourist, aviation, and footwear industries have suffered the most immediate losses. Due to
the Covid-19 pandemic, when customers throughout the world are primarily concerned in vital goods
and illness prevention, demand has slowed, and Vietnamese textile and apparel industries have
encountered various challenges as a result of few orders. With over 60% of raw materials imported and
90% of final products exported, Vietnam's textile and apparel sector experienced supply and demand
shocks when the Covid-19 outbreak broke out(HoaThoAnnualReport, 2021)
Micro environment
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