Marketing Plan and Process: Business Unit 2 Report

This report is a comprehensive analysis of marketing processes and planning, tailored for a Higher National Management Diploma in Business. It begins by defining the marketing concept in the 21st century and then explores the role of marketing functions within an organization, using Morrisons as a case study. The report then delves into how the marketing function interacts with other departments, such as operations, finance, and HR, and provides a detailed explanation of the extended marketing mix, with examples from the selected supermarket. The report evaluates how the marketing mix contributes to organizational success and concludes with recommendations for improving marketing performance. It also outlines the benefits of marketing mix modeling and provides insights into optimizing marketing budgets. The report culminates in a marketing plan for launching a new range of luxurious food products, incorporating SMART objectives, situational analysis, and competitor analysis.

Higher National Diploma in Business
Management
Unit 2 Marketing Process & Planning
The Marketing Concept,
Functions and Mix (Part 1)
Marketing Planning (Part 2)
Name:
ID:
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Table of Content
Part 1: Briefing Paper
1.0 Introduction p
2.0 An explanation of the concept/definition of marketing in the 21st century
p
3.0 Description of the role of marketing function with examples from the
chosen organisation p
4.0 An analysis of how the marketing function works and interacts with other
departments p
5.0 An explanation of the extended marketing mix and examples from selected
supermarket p
2.0 An evaluation of how the marketing mix adopted by the selected
business (or business unit) contributes to the success of the organisation in
meeting their overall business objectives p
3.0 Recommendations p
9.0 Conclusions p
References p
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1.0 Introduction
Marketing is one of the most crucial functions of any organization and it needs
to deploy various tools and techniques for such management of the marketing
function. Therefore, the below prepared report will be discussing the concept of
marketing in the 21st century along with its functions and interactions with other
functions. Extended marketing mix will also be explained along with its benefits.
Then a marketing plan will be devised for the launch of new range of luxurious food
products along with concepts of SMART objectives, situational analysis, competitor
analysis, marketing audit, etc.
2.0 An explanation of the concept/definition of marketing in
the 21st century
Deliverance of the customer experience and customer satisfaction are the
main pillars of the marketing concept in 21st century. The pattern of purchasing will
change immensely in the coming time like having more discretionary income, having
lesser time to invest, having more choices of goods and services along with new
attributes of the customers like newer and modifier patterns of spending which will be
depending upon the age, geography and wealth (Cao, Duan and El Banna, 2019).
Such buying behaviour will be needed to be observed and cracked by the companies
and their marketers like on the one hand, opting to purchase high – end and
luxurious goods and on the other hand, bargaining at a small retail shop or store.
Now it can be said that the results according to the company may show higher and
better results for customer satisfaction but according to the customers, they may not
be satisfied and may show a very deficient results. This gap between the companies
and the customers need to be addressed by the marketing in 21st century.
The above discussed gap can be addressed through 3 stages namely –
design, deliver and develop. Design will include deciding the right propositions for
the right target consumers. It is necessary to connect the linkages between what the
customers want from a product or a service and what a company is offering
(Rustam, 2020). Delivering will involve the above right propositions to be made
available to the consumers at minimum possible cost and developing the capability
to do it repeatedly without any deficiency.
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3.0 Description of the role of marketing function with
examples from the chosen organization
The chosen organization here is ‘Morrisons’ which is a supermarket company
in the name of Wm Morrison Supermarkets (Swaen, Demoulin and Pauwels-
Delassus, 2021). It had 497 supermarkets across England, Wales, Scotland and
Gibraltar as of 2021. The role of its marketing functions can be described as follows:
Promotion – Such a marketing function of the Morrisons will involve making aware
the public of the brand and educating them through various tools like email, content
marketing, social media and advertising.
Selling – Such a marketing function of the Morrisons will involve the process of
selling of the goods and services through strategies which are product oriented and
will involve personalized communication, communicating the USP, etc.
Product Management – Such a marketing function of the Morrisons will involve
managing of the products and ensuring that it is meeting the needs of the customers
by conducting analysis of the competitors and getting feedbacks.
Marketing Information Management – Such a marketing function of the Morrisons
will be involving the management of the data derived of the markets over a specific
period of time (The 7 Functions of Marketing: A Field Guide (Infographic), 2022). It
will involve collecting data regarding demographics and preferences of the
customers.
Pricing – Such a marketing function of the Morrisons will involve deciding value of
the products it is offering. It is a complex process and it should match the level of
promotions and branding being done.
Financing – Such a marketing function of the Morrisons will involve the process of
generation of funds for the organisation (Naujoks, 2020). It can be done through
building of brand equity and obtaining loans and other funding.
Distribution – Such a marketing function of the Morrisons will involve the process of
deciding the channels of distribution along with alignment with the teams of supply
chain.
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4.0 An analysis of how the marketing function works and
interacts with other departments
Marketing functions of an organization like Morrisons encapsulates the whole
organization and sees the business from the point of view of the customer.
Therefore, the marketing interacts with other functions of the organization in the
following ways:
Operations / Production – The marketing department of the organizations like
Morrisons will have to be working closely with the operations or production
department to ensure that the quality and design of the product is as per the
preferences of the customers by conducting appropriate research and development
for satisfaction of the current and future needs of the customers.
Finance – The marketing department of the organizations like Morrisons will have to
be working closely with the finance department to ensure the adequacy of the
availability of the budget for the sufficient research, promotion and distribution
activities.
Human Resource – The marketing department of the organisations like Morrisons
will have to be working closely with the HR department to ensure appropriateness of
the skills and capabilities of the staff for research and development, meeting of
production targets and creation of a competent and ambitious sales team.
Research and Development – The marketing department of the organisations like
Morrisons will have to be working closely with the R&D department to ensure
generation of new ideas along with creation of innovative and creative new products.
Also, the marketers will make sure that the researchers are taking into consideration
the needs of the customers as laid down by the marketers.
5.0 An explanation of the extended marketing mix and
examples from selected supermarket
Product – Morrisons can be called a grocer which is value – led and focusses on the
fresh food. Food which is of high quality and fresh is the primary source of success
for it. It has its own facilities of manufacturing for ensuring the best quality products.
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Price – Pricing is the reason, Morrisons stores are chosen by the customers. It aims
at providing good quality products and services at lowered prices i.e., ensuring that
price is never the reason for which customers do not come to Morrisons stores. It
uses premium pricing, product bundle pricing and promotional pricing.
Place – It includes the distribution strategy of the Morrisons as it serves across the
UK and has more than 660 stores with more than 117,000 employees (Niazi, Rashid
and Shamugia, 2021). It is the second largest manufacturer of fresh food in the UK
operating on the strategy of wide geographic presence.
Promotion – It includes the advertising strategies of the Morrisons. It works through
Morrison farming program with its suppliers to make the to make the British farming
sustainable and competitive. It also offers rewards to its customers.
People – The main aim of the Morrisons is to create job opportunities for the local
people thus benefitting the community at large. It employs various personnel like
qualified butchers, greengrocers, bakers and fishmongers.
Process – Through its convenience and online stores, Morrisons aims to offer multi-
channel experience to its customers. It also aims to provide the products and service
at the lowest prices to allow the customers to shop easily and pleasantly. It also
induces continuous communication with the customers.
Physical Evidence – Morrisons has more than 660 stores running and has 1
national centre and 7 regional centres operating. It has its own websites which
enlists the range of products offered.
2.0 An evaluation of how the marketing mix adopted by
the selected business (or business unit) contributes to the
success of the organization in meeting their overall
business objectives
The extended marketing mix adopted by the Morrisons is an important tool in
its success and in the achievement of its overall business objectives by explaining
the benefits of focussing on the 7Ps of the business i.e., product, price, place,
promotion, people, process and physical evidence. In these 7Ps, the organization
focusses on various marketing strategies like product innovation, promotion
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planning, pricing approach, etc. which will help and guide the business of the
Morrisons to develop its brand and succeed in the market over and above its
competitors i.e., position itself in the market competitively and achievement of the
business objectives and goals (The Benefits of Marketing Mix Modelling, 2022).
The marketing mix will also help the Morrisons in determination of
effectiveness of the market and return on investment (ROI) (Sheth, 2021). It will help
in the establishment of effective insights on the future variables and trends through
management and allocation of an effective budget and data quality. Further, benefits
of marketing mix to the Morrisons can be discussed as follows:
Evaluation of efforts – Marketing mix model provides a detailed analysis of the
marketing efforts (Bozic, Siebert and Martin, 2019). Thus, it will ensure that the
factors like ROI, effectiveness of campaigns and key volume drivers are taken into
consideration around which the process of marketing revolves.
Improvement in planning – Tools like artificial intelligence and machine learning
are also integrated with the model of marketing mix which will allow the organization
to view how its future in the marketing efforts will look like.
Optimization of the marketing budgets – Marketing will allow the Morrisons to
view the budgets more efficiently on the basis of past business performance.
3.0 Recommendations
To achieve improvement in the marketing performance, the organization needs to
follow the following tips:
View of the organization – Here, it is recommended to get a clear view of the
organization to know where it stands and what needs to be done to improve its
capabilities through marketing assessment.
Bridging of gaps – Here, it is recommended to assess and fill the gaps in the
organization related to its perception and its performance.
Utilization of the core strength – Here, it is recommended to focus on the building
of assets that can be put to use for acceleration of success.
Setting of goals – Here, it is recommended to know the key performance indicators
of the organization and then assign appropriate goal values.
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Marketing scorecard – Here, it is recommended to build dashboards for
measurement of the effectiveness of marketing on the basis of the KPIs and the goal
values which are efficient to maintain.
Involve professionals – Here, it is recommended to involve professionals in this
process of marketing.
Know the audience – Here, it is recommended to know who the audience is. The
ideal group to which the customers belong to and their interests and preferences
shall be known.
Target the audience – Here, it is recommended to further target the audience or
reach them i.e., communicate how the issues of the target audience will be solved.
Address the community – Here, it is recommended to address the community and
get involved in the community and their issues through volunteering and other
campaigns.
9.0 Conclusions
From the above prepared report, it can be said that marketing is a very
complicated function of any business organization and needs very effective and
efficient planning. Thus, the above report explains the concept of 21st century
marketing and the roles of the functions of marketing in the organization. It also
explains how the marketing functions interacts with other functions of the
organization. Also, the extended marketing mix is explained and its benefits are
evaluated for the success of the organization. Then a detailed and comprehensive
marketing plan is developed for the launch of a new range of luxurious food
products.
References
Bozic, B., Siebert, S. and Martin, G., 2019. A strategic action fields perspective on
organizational trust repair. European Management Journal. 37(1). pp.58-66.
Cao, G., Duan, Y. and El Banna, A., 2019. A dynamic capability view of marketing
analytics: Evidence from UK firms. Industrial Marketing Management. 76.
pp.72-83.
Naujoks, T., 2020. Marketing functions and B2C e-marketplaces: An exploratory
analysis. Journal of Marketing Channels. 26(4). pp.250-262.
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Niazi, N., Rashid, M. and Shamugia, Z., 2021. Role of Marketing Mix (4Ps) in
Building Brand Equity: Case Study of Shell Petrol, UK. International Journal of
Applied Business and Management Studies. 6(1). p.2021.
Rustam, J., 2020. Effective Use of Marketing Functions in Trade. International
Journal on Integrated Education. 3(10). p.334251.
Sheth, J., 2021. New areas of research in marketing strategy, consumer behavior,
and marketing analytics: the future is bright. Journal of Marketing Theory and
Practice. 29(1). pp.3-12.
Swaen, V., Demoulin, N. and Pauwels-Delassus, V., 2021. Impact of customers’
perceptions regarding corporate social responsibility and irresponsibility in the
grocery retailing industry: The role of corporate reputation. Journal of
Business Research. 131. pp.709-721.
The 7 Functions of Marketing: A Field Guide (Infographic). 2022. [Online]. Available
through: < https://www.brafton.com/blog/content-marketing/functions-of-
marketing/ >
The Benefits of Marketing Mix Modelling. 2022. [Online]. Available through: <
https://www.panderasystems.com/benefits-of-marketing-mix-modeling/ >
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Table of Content
Part 2: Marketing Plan
1.0 How the strategic marketing plan links with the overall organisational
mission, corporate strategy and objectives p
2.0 Clear and SMART marketing objectives p
3.0 Marketing research to support the new product line launch p
4.0 A situational analysis p-p
4.1 Marketing audit, making use of appropriate analytical tools including
SWOT, Pestle and 5C analysis p
4.2 A competitor analysis including the market segments p
4.3 Sub-segments p
4.4 Articulation of the new product value-proposition in the eyes of the
customer p
4.5 Development of the marketing strategies applied to the extended marketing
mix p
4.6 Setting of an overall marketing budget, including allocation of planned
spend p
4.7 Tactical actions p
4.8 Identifying appropriate control and monitoring measures to ensure
achievement of objectives including metrics to measure success such as
Return on Marketing Investment (ROMI) and Customer Lifetime Value (CLV)
p
5.0 A comprehensive media plan that supports the planned marketing
campaign p-p
5.1 A media budget p
5.2 Recommendations and rationale for selected and integrated multi-media
activities within the set budget that meet the marketing objectives p
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5.3 Appropriate digital, offline and social media channels for communication
p
5.6 Full justification for a multi-media plan based on quantitative and
qualitative criteria p
References p
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1.0 How the strategic marketing plan links with the overall
organizational mission, corporate strategy and objectives
The process through which an organization develops a competitive edge over
its competitors is called as Strategic Marketing. Such a competitive edge is attained
by focusing on its strengths for providing better quality products, services and value
to its customers through the new luxurious range of food products which will be
launched. Strategic marketing will involve addressing the issues of where to
compete, how to compete and when to compete (The Role of Strategic Marketing in
an Organization, 2022). Addressing of these issues will lead to initiation of the
marketing planning process which will involve planning phase, SWOT analysis and
marketing mix strategy, setting product and marketing goals, implementations phase,
collecting resources, marketing hierarchy, schedules formulation, plan execution and
evaluation. Thus, such strategic marketing plan will help the organization set
achievable and measurable goals, preparing a concise plan and ensuring
synchronization of these plans with the mission, strategies and objectives of the
organization.
2.0 Clear and SMART marketing objectives
Now, for launching of this new luxurious food product range, the objectives
need to be clear and Smart and therefore, the following steps will be taken:
Step – 1: Identification of Priorities
It will include analysis of the vision set by the organization and prioritize the
key areas from various areas such as finance, product or service, quality, customers,
personnel & development, operations, etc.
Step – 2: SMART Objectives
Keeping the above priorities in mind and set SMART objectives for each one
of these priorities i.e., whether the priorities set are specific, measurable, agreed,
attainable & achievable, realistic & resourced and time bound.
Step – 3: Right People and Good Fit of these Objectives
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