Marketing Essentials Report: Your Destination Expansion Strategy

Verified

Added on  2020/06/04

|15
|4869
|40
Report
AI Summary
This report examines the marketing essentials for the company 'Your Destination,' a private transportation service provider, focusing on its expansion into global markets like Manchester, Glasgow, and Newcastle. The report explores the key duties and responsibilities of marketing officers, the relationship between marketing roles and the wider organizational context, and the application of the marketing mix. It details the importance of marketing in building brand recognition, generating revenue, and maintaining customer relationships. The report analyzes the role of marketing managers in defining brand, budgeting, developing marketing strategies, managing employees, and identifying business opportunities. It also discusses the significance of various business unit components such as profitability, productivity, customer service, employee retention, core values, growth, maintaining financing, and competitive analysis. Furthermore, the report provides a comparative analysis of the marketing mix of Your Destination with that of National Express, examining product, price, place, promotion, people, process, and physical evidence. The report concludes with a marketing plan for the nationwide expansion of Your Destination, emphasizing strategies for reaching B2B and B2C customers.
Document Page
Marketing Essentials
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Explaining the different role of marketing and its relation with other functional unit..............3
P2 How marketing roles and responsibilities are related with wider context of organisation5
TASK 2............................................................................................................................................7
P3 Marketing mix in the context of cited firm.......................................................................7
P4 Marketing plan for nationwide expansion of Your Destination.....................................10
Conclusion.....................................................................................................................................13
References.....................................................................................................................................14
Document Page
INTRODUCTION
Marketing is one of the important thing which helps the business to succeed by adding
the persuasive value to their product or services and make them available for their potential
buyers. It covers the area of promotion & sales, advertising and public relation. It also helps in
building Brand Recognition of the prospective company and also stimulate an environment in
the marketplace for healthy competition (Verhoef and Leeflang, 2010). This project is based on
the company YOUR DESTINATION which deals in providing private transportation facilities at
international level. They are now focusing on expanding their business in global market of
Manchester, Glasgow, Newcastle etc. focusing on determining the key duties and
responsibilities for the marketing officers and defined a pre-determined proposed structure and
operations related to marketing department. It also covers the roles and responsibility of
marketing essential and developing the marketing mix strategies in order to achieve overall
objectives of the organisation. Without improper marketing and its essentials company cannot
communicate with their prospective customers therefore the need of applying different
marketing strategies arises which return in higher growth rate of the company.
TASK 1
P1 Explaining the different role of marketing and its relation with other functional unit
1) Key duties and responsibilities for the Marketing Managers.
Marketing Officers are primarily focused on the practical implementation of marketing operation
of an organization. They are in charge of the entire marketing activities which is required by an
organisation in order to making their product available to their desired customers. Such activities
influence the customer not to make any shift over their competitors (Murray, Gao and Kotabe,
2011). Firstly, marketing team is required to carry out the research process and find out what
exactly customer wants. It enables these officers to identify new opportunity available in the
market and try to build specific are of marketing for its product & services. They can do research
by interacting with customer personally asking their likes & dislikes, analysing the buying
behaviour of customer etc. this will the researcher to understand the customer in a better way.
After the research part, strategies are made according to the required customer. In Your
destination, marketing officers have primarily focus on the analysing the needs and wants of
Document Page
their customer and tries to aware them. Basically, they try to communicate their customer with
the desired product which ultimately help them in increasing the shareholder value of the
organisation. The marketing team of this organisation is liable to manage all activities which is
required in order to promote its product such as advertising part, sales & promotion part,
handling public relation etc. (Lange-Faria and Elliot, 2012). In Your Destination, managers try
to advertise their customers by using various promotional techniques such as Free Trial, Special
Pricing, telecast of their advertisement through different Digital Screens etc. which are
automatically linked up with goals of the organization and tries to identifies more opportunity
for the firm.
Below mentioned are the roles and responsibility of Marketing Manager:
Defining and managing your Brand: This involves identifying your business
opportunities across the global market. It includes what basically the company does,
where it stands and where they are their future goals. In Your Destination, manager can
define themselves in the area of providing private transportation across the global
market. They can identify their competitor, their current market shares and various
marketing strategies for attracting more and more customer.
Budgeting: Every business organisation requires budgeting for doing its operation. That
budget must be affordable, reasonable and flexible. They can arrange their budget
through investment and loan as well. Company's performance can be determined by its
financial position therefore it is very necessary to make a budget before implementing
any activity. In Your Destination Company, Budgeting can be made by keeping in the
mind the global expansion of the business, also transportation involves higher costing.
Developing the right marketing strategy: It is very essential to develop right marketing
strategy in order to promote their product & services (Zhu and Zhang, 2010). In Your
Destination company, marketing strategies can be made to aware customer about their
product like using various advertising tool such as television, hoardings, free trail, special
pricing & offering etc.
Employee management: Marketing managers are responsible for the employee’s
performance in an organization. Positive attitude of mangers towards their employees
make them motivated and dedicated. They assigned duties and targets in such way which
gives them best output. Your Destination firm tries to build healthy relation with its
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
employees so as to maintain them for longer run which is quite necessary in such type of
business.
Identifying new business opportunity: It is the role marketing managers to analyse the
new trend and market opportunity for the company. They can also identity what is peak
on and peak of period of the customer so as to develop various strategies according to
that (Fraj, Martínez and Matute, 2011). In Your Destination, new opportunities can be in
the form its global expansion in Manchester, Newcastle, Glasgow etc. they can find out
the current trend of private transportation in these marketplace and make strategies
according to that.
P2 How marketing roles and responsibilities are related with wider context of organisation
Marketing plays very crucial role in maintaining relationship between the customer and the
company offering to the market. It also helps in building the brand of the company and performs
such tasks which generate revenues for the company. It also helps in defining the actions such as
lead generation, new sales for the company which help in strengthening the organisation to exist
in competitive environment. A business unit comprise of Profitability, Productivity, Customer
Service, Employee Retention, Core values, Growth, Maintain Financing, Marketing &
Competitive Analysis which are discussed as follows:
Profitability: For any organisation, it is very essential to have revenue more than their cost while
doing their business activity. Your Destination is required to control the cost of both production
and operation department in order to achieve the overall growth of the organisation and maintain
a profit margin at higher rate (Song and Song, 2010). As Your Destination is in the process of
expanding their business in more countries they have to yield their profit according to that.
Productivity: It includes training of employees, purchasing and maintaining the equipment is
come under this part. Your Destination is required to train their employees by providing them
sufficient training and resources which make them productive. They can also look after their
driving skills which is the key essential element of this organization. Give them training about
the traffic signals which might get differ from one country to another.
Customer Service: Good services or good feedback gives you happy clients which will retain for
longer period and kept on increasing company's revenue. The primary objective of any
organisation is to keep your customer happy and satisfied. Your Destination can make their
customer happy by taking feedback from them and shall work on it. For e.g.: If one is using
Document Page
Your Destination, transportation they can ask for feedback from their customer which can be in
the form of written at the time customer stop using the services of this transportation or they can
ask them to give feedback on online portal of this transportation.
Employee Retention: Workforce turnover may cost you additionally by making your
productivity level low because it creates an extra cost of recruitment new employees and
providing the, adequate training (Han, Nunes and Drèze, 2010). In Your Destination, recruiting
and training employee repeatedly may lead to higher cost which is slowing down the growth rate
of the organisation therefore it is necessary to have a positive attitude towards them.
Core Values: Your mission statement covers the core value of an organisation. It is the synopsis
which include the activities of your organisation, responsibility of the organization towards the
community and satisfying employees as well the customer. In Your Destination the core value is
to serve the public by providing them means of transportation by satisfying customer needs and
desire.
Growth: The future projections of any company indicates the growth of the organisation. It
means using the resources in most effective and efficient way. Your Destination is focusing on
its growth by diversifying their business activities in more countries such as Manchester,
Newcastle, Glasgow etc. which ultimately help their retained earnings to grow at at faster rate.
Maintain Financing: Performance of any organisation can be judged through its financial
position with good cash flow. Maintaining your finance means covering for the unpredictable
loss in future (Iglesias, Sauquet and Montaña, 2011). Your Destination can maintain their fund
by analysing the trend of current marketing scenario and tries to monitor the efficiency of sales
operation.
Marketing: Marketing is key essential of any organisation. Your destination can use various
marketing techniques in order to promote their product and services. It also helps in developing
longer market share for the organisation.
Competitive Analysis: Identify your competitor and evaluating their strategies to know their
advantages and disadvantages relative to your organisation. Your Destination is required to
evaluate their competitors in order to leverage their competitive edge.
B2B customer: This approach is related with offering company products to another firm for their
business purpose. There are various multinational corporation which required bus service for
Document Page
their employees. Your destination can provide their transportation services under business to
business model.
B2C customer: This is another approach where a company offer its product directly to their
customers. In the context of Your Destination, firm required to provide its services directly to
the customers.
TASK 2
P3 Marketing mix in the context of cited firm
Marketing mix is a set of marketing tools which is used by firms or marketers to seek its
objectives in the target market.
Companies used 7 P's to find out the product and brands offering in the market. This 7
p’s help the businesses to analyse and define issues which influence the marketing of its
products and services. It helps the businesses to formulate effective marketing strategy. The
referred company has its own marketing mix which help the managers to make its operations
more effective than their competitors (Ellis-Chadwick and Doherty, 2012). Your Destination is a
well-known company which deals in the transportation business. The main aim of the company
is to provide best services to their customers and get high competitive advantages in the target
market. Your Destination gives its services in different countries. Before selling the products in
the market, the firm has to determine the right place. While entering in the target market, the
managers have to create the effective marketing strategies to deal with the competitors.
Marketing mix Your Destination National Express
Product Product is an item which is
being actually sold into the
market place. The
organisation, your destination
provides transportation
services. It administers many
services in order to gain and
retain customers. The
company also engaged in
courier services. To deliver
National express provides
trains, buses and coach
services. The company also
provides transport services in
big events of UK.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
service on time, the firm used
effective strategy for selling of
products in target market
(Chabowski, Mena and
Gonzalez-Padron, 2011).
Price Price is the value charged by a
firm for its services. There is
various pricing strategy such
as competitive pricing,
discount pricing and premium
pricing. The company, your
destination adopts competitive
pricing strategy so that it
competes with its rivals in
order to take maximum
advantage and sustain in the
market. The firm sets its prices
low in comparison to its
competitors. Because of its
low rates, customer demands
its services more.
National express adopt
different pricing strategy. The
firm pursue price
differentiation strategy. In this
strategy, the early booking
customers will get discounts
on their bookings while the
others customers or the late
comers pay high prices. The
company provide online
booking option to its
customers. It encourages the
customer to visit the site and
get maximum benefits.
Place Place refers to an area where
company sell its products.
Because of global presence of
the company, the company is
able to reach many customers.
The firm perform its
operations in many countries
so that it can approach to large
no. of clients (Mitic and
The firm operates in many
destinations. For gaining high
competitive advantage, place is
a big factor for a firm. Many
places in UK contribute in the
successful operations of
national express. If a company
deliver its services in vast
range among many people,
Document Page
Kapoulas, 2012). then it can accomplish its
objectives and goals easily in
short period of time in the
market place.
Promotion All those activities which are
used in the promotion of
products and services in the
target market. The company
adopt different promotional
tools for marketing and
advertising their services, like
social media, television, web
portals, radio etc. the company
sponsor itself in many events
in order to increase its
visibility.
National express used effective
promotional tools to deal with
its customers. The firm used
various elements to promote
itself in the market place, such
as- advertising, personal
selling, sales promotion, public
relation etc. Emerging
technology is helpful in online
booking system, creating
attractive websites and search
engine.
People All the companies rely on the
people who run them from
managers to subordinates.
Having right people is
essential for the success of the
company. Your Destination
focuses on the selection of
right people (Verhoef and
Leeflang, 2010).
National express focuses on
the people who can contribute
in the growth and success of
the company.
Processes Processes refers to how the
service is delivered to the
customers. The process used
by the company for booking
tickets is very fast. Through
National express used fast
processes for tickets booking
which allow customers to get
efficient service delivery.
Document Page
this, the customers can get
whole details about the
booking.
Physical evidence Every service includes some
physical evidence. It is a place
where service is delivered and
where the firm and customer
interact (MurrayGao and
Kotabe, 2011). The booking
office of your destination is
well designed.
National Express gives some
physical evidence to their
customer in the form of
receipt.
Unique Selling Proposition: It is a uniqueness which differentiate a products and services as
compare to its competitors. Your Destination is providing customized product to its customer
which can gain competitive advantage over others.
The target customer for Your Destination can be tourists, people who are doing job and college
students used their transport services. This age segment is between 18 to 35 years old.
P4 Marketing plan for nationwide expansion of Your Destination
Each and every business entity develops a marketing plan which includes its marketing strategy.
Marketing plan is formulated for a definite time period to decide the future course of actions and
to accomplish the goals and objectives of the organisation. It is vigorous in nature because due to
environmental changes, managers are required to change plans and policies accordingly.
Marketing plan is formulated in order to increase sales and attain maximum profits (Lange-Faria
and Elliot, 2012). Marketing managers of the organisation, Your Destination formulates a
marketing plan to take competitive advantage from the market. The concept of developing
market plan is creating or improve existing services so that they can meet the needs of the
customer.
Introduction of company
Your Destination is a transport company that is known for its products and services in global
market. It is one of the best transportation companies. It is a rapidly growing company of UK.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
The company is well known because of its successful business operations in Essex and London.
After that, the higher authority of the company takes decision to spread their business in
Aberdeen, Manchester, Glasgow, Newcastle etc. For this reason, the firm is taking up effective
marketing strategies so that they will reach to their potential customers as well as target
customers.
Mission and Vision of the company
The company’s mission statement is to administer remarkable customer services as well as carry
out corporate social responsibilities.
The vision statement of Your Destination is to become a lucrative transportation company in the
overall world by setting a positive impact in the mind of the customers (Zhu and Zhang, 2010).
Marketing manager of the company said that, we try to serve better services to our clients.
Situational analysis
The external and internal condition can be diagnosed through PESTLE as well as SWOT
analysis of the firm. It guides managers to easily determine future risks and challenges which
can influence the firm in strong way. Through SWOT Analysis of the organisation, the manager
of Your Destination can easily determine the opportunities for the firm and with the help of
those opportunities, they can easily expand their operations and functions all over the world.
SWOT analysis:
Strength Your destination is having various places which covers the regional
area and provide competitive advantage.
The firm have approx. 250 buses fleet in different classes such as
economy, business and luxury.
Weakness The operational cost one of the major concern for the enterprise which
reducing its revenue and profits.
Opportunities There is various European market highly attractive can provide a long
term growth to the company.
Threats There are large number of business corporations across the UK which
can provide extensive competition for the cited firm.
PESTEL analysis:
Political factor This is one of the key element of external environment and its
Document Page
influence over business and its long term performance. UK politically
stable country which helps in maintain consistency business policies.
For example, government wants to promote public transport and it
will provide opportunity for the cited firm.
Economical factor There are various economic factors such as GDP growth, interest rate,
inflation, demand etc. For instance, UK growth rate is more than 2.5
percent. Such rate is quite good for a developed country and it will
help to generate demand of their product and services in an effective
manner.
Social factor It is related with the socio-cultural factor such as language, standard
of living, population size and growth. The most of the public in UK
prefer public transport which help to increase demand of their product
in the market.
Technological factor There are various innovation and technology helps to gaining
competitive advantage in the market. Your destination can launch
their online portal where they can sale its product in a cost effective
manner.
Environmental factor In modern business environment, climate is one of the key issue for a
customer. Therefore, it is the role of the company to conduct its
business practices in a sustainable way.
Legal factor There are various laws and legislation issues and its having a large
influence on company’s current and future performance. In the
context of Your Destination, where various transport related rules
must be followed by them.
Porters five force:
Suppliers power This is one of the key factor where a company seek the
bargaining power of its suppliers. Your Destination is a transport
company where oil suppliers are limited and which leads to
increase their bargaining capacity.
Buyer power There are various bus operator in UK, which can increase the
chevron_up_icon
1 out of 15
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]