Marketing Essentials: A Report on Next Plc's Marketing Strategies

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Marketing essentials

TABLE OF CONTENTS
Introduction......................................................................................................................................1
Activity 1.........................................................................................................................................2
Explain and analyze the key roles and responsibilities of marketing as a functions and how
roles and responsibilities interrelates with other functional unit of an organization. It wills also
analyse the significance of such relationship...............................................................................2
Critically analyse and evaluate the critical elements of the marketing functions and their
interrelationship with other functions of an organization............................................................5
Activity 2.........................................................................................................................................7
Using the extended marketing mix compare ways in which different organization apply their
marketing mix to meet with business objectives.........................................................................7
Evaluate different tactics used by the business to achieve their objectives...............................11
Design a strategic marketing plan that tactically applies the use of 7Ps to achieve overall
marketing objectives..................................................................................................................12
Conclusion.....................................................................................................................................17
References......................................................................................................................................18

LIST OF FIGURES
Figure 1: Marketing concepts..........................................................................................................3
Figure 2: Marketing mix elements...................................................................................................7
Figure 3: Next Plc..........................................................................................................................12

LIST OF TABLES
Table 1: Comparison of marketing mix elements of Next Plc and Mark & Spencer......................7
Table 2: SWOT analysis................................................................................................................13

Introduction
The report is too processed mainly in measuring the marketing needs of the organization. The
report is on Next Plc case, which is the large British multinational footwear, home products and
clothing retailers along with having 700 stores all across the world. The marketing is required
essentially to aware the public and make the promotions about the organization products with its
features. By the help of appropriate marketing level, the organization can adequately promote its
product in front of a consumer and targeted market. With the helps, proper marketing plan, 7Ps
of marketing and valid promotion will help the organization to promote its products in a market
and also supports a consumer in terms to meet with their desires and needs.
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Activity 1
Explain and analyze the key roles and responsibilities of marketing as a functions and how roles
and responsibilities interrelates with other functional unit of an organization. It wills also analyse
the significance of such relationship.
Marketing is an organization operational function which deals with various activities mainly is
practised to make the consumer ware towards the use of services and goods. The marketing
function is defined as business organization roles that help in sourcing and determining the
successful products potentially for the market, and it helps then for the promotion also. Such
functions are very common in an organization as well as it also involves the several
responsibilities of an organization, and such functions are mainly responsible for organizational
growth and development (Baker, 2016). The functions of marketing are consist of the market
research, finance team, human resource department, distribution system, product development,
and sales support system.
An interrelationship among the different function of organization and marketing functions is
explained under the marketing functions of an organization, and hence, other functional unit and
department are closely connected. It is also explained as the functions of marketing need regular
back up through different operational department to perform effectively. If Net Plc has to
implement and plan the marketing plan for this that requires the full support from its finance
department, production department, research and development and purchasing department. If
Next Plc marketing team further wants to offer the several beneficial schemes or the discount
offers towards the purchase of the product then of the team of marketing has to communicate
with the production and finance department initially properly.
The main marketing functions are to enhance profitability through increasing organizational
sales; hence, it is further achieved with all organization department participation simultaneously.
The finance department needs to provide the proper budget for implementation and planning of
the marketing plan to the marketing department. The production department will then
communicate this with the logistics department in terms of fulfilling the services and products
supply and demand (Schaefer, 2018). The purchasing department is operated and formed by
more than one employee in terms of ensuring that all the inventory, supplies and goods require
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for an organization must be kept in the stock. The research and development department plays a
vital role in the product life cycle of Next Plc.
Marketing concepts, by including future and current trend and overview of key elements of
the marketing prices
Next Plc, the concept of marketing is being divided into majorly into five concepts. Such
marketing concept will involve the future and current needs to become the marketing planning
more successful.
Figure 1: Marketing concepts
(Source: oxidian.ch, 2019)
Selling concept: Modern consumer mindset will be attracted through promotions, in which
customer has to focus more over on the services and products that are promoted aggressively in a
market.
Societal Marketing concept: It is a concept which shows focus majorly towards the consumer
desires and needs so that customer refers to the brand of a particular organization instead of other
competitors.
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Marketing concept: It explains the focus requirements mainly over consumer towards the
services and products delivery. To face the competitive market, Next Plc has to deliver the best
services of the services and products.
Product concept: In this, the buyers choose and relate the goods that have higher value of the
money, innovative and quality approach. It is the concept which derives that consumer retains
longer in the organization that is beneficial for them.
Production concept: It is a concept that is completely based on consumer perceptions, that
depicts that customers are being inclined towards the offer product by an organization at
inexpensive prices. However, organizational, operational capacity should be focus mainly to
enhance the rate of production (Blythe and Martin, 2019).
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Critically analyse and evaluate the critical elements of the marketing functions and their
interrelationship with other functions of an organization.
The management of marketing is being defined as a complete process of execution and planning
of different marketing concepts. Such concepts of marketing involve the sales, distribution,
promotion, pricing etc. that compliments organization target customer. The marketing function
will enclose the different functions like distribution system, finance and advertising etc. but all
such activities come in the marketing process. The marketing functions elements are mentioned
below:
Research: The market research in Next Plc plays a vital role. This is also considered as an
essential function because without the successful research of the market, the business is
impossible. The research will also help to get all valuable information which is related to all such
factors that are concerning the process of business (Hill, 2017). Hence, this is being considered
as an essential marketing function between all the organizations. Only not market information
but the raw material, logistics, resources and raw material can be achieved only through research.
Strategy: When all collected information and the data from research is, then this is processed
further in terms to judge with all possible weakness and strength in the operations of a business.
Such processed data will allow us to make the idea for the strategies that are utilised mainly in an
organization. Also, these strategies will provide the appropriate guidance to complete the market
needs and demand and succeed in a business environment.
Planning: When the completion of the research is done successfully along with strategy policy,
the marketing next function is the process of planning. The marketing department will also
involve the sales figuring forecasting, communication, distribution, financial planning and other
business factors. This department will also utilize the specific plan of the strategies to convert the
goals into the success of an organization.
Tactics: It is also functions of the marketing, some short term and small plans are there that must
be implemented to attract the consumer (Wheelen et al., 2017). Also, they involved a limited
period which is used to offer the promotional boost such as discounts offers, special schemes etc.
This will further help to corner initial force from a competitor as well as a boost in sales.
5

The functions of marketing are linked closely with other functioning departments of an
organization. This is also explained that the connection between the finance department with the
marketing department is one of the crucial examples. The functions also need the economic
resources to evaluate research, plan and implement the planning and strategies of marketing
among an organization, and this will also provide through the organization finance department.
The marketing functions not able to work without the proper communication in an organization
as well as sorting with the financial team must also are there in Next Plc organization. In an
organization similarly, such function is related closely together with other functional department
and units of an organization (Grabs et al., 2016).
Also, these functions need the appropriate descriptions from the production department that is
related o organization services and products in terms of providing the best marketing plan. They
also require human resources in which economic will further get help from the finance
department, and logistic get help from the distribution network. The marketing operations also
need to get backed and communicated by a different organization department. For example,
organization HR policies should be aligned properly with the marketing department in terms of
enhancing the profits and side by side, a team of production should convey appropriate
information that is related to services and products in terms of building the proper organization
marketing plan. Also, if functions of marketing are unknown that is related to raw material
inventory or organization production capacity, then the plan of marketing will result in losses
and blunder (Al Shobaki et al., 2018). Hence, these all functions of marketing are interrelated
with each other department of an organization.
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Activity 2
Using the extended marketing mix compare ways in which different organization apply their
marketing mix to meet with business objectives
Marketing mix
Figure 2: Marketing mix elements
(Source: www.locusassignments.com, 2019)
It is the group of the interrelated variable that includes 7Ps under this in terms of satisfying the
maximum consumer over the organization cotemporaries. The coherent plan of marketing of
Next Plc by using 7Ps of the marketing mix and compare it with Mar & Spencer marketing mix
is as follows:
Table 1: Comparison of marketing mix elements of Next Plc and Mark & Spencer
Marketing mix Next Plc Mark & Spencer
Product It is what an organization It is the top retail and popular
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offers to the consumer in
terms to meet with their
requirements. The product of
Next is mainstream primarily
of fashion, which is targeting
both genders of the middle
class up to the age range
between 25-45 years
(McDonald and Wilson,
2016). The main focus is to
provide fashionable design
and high-quality product to the
consumer.
rand chain based in the UK.
The portfolio of the products
for this organization in their
marketing elements is
covering the vast range of the
items which is covering the all
groups of age that can be kids,
women and men. It offers the
goods for the women which
include the Jeans Blazer etc.
The section of home furniture
and footwear which also
contain a wide range of
products.
Price It is related to a pricing policy
that is employed by Next plc,
and its impact is major on the
overall strategy. The
organization pricing strategy
is like a targeted market that
occupies the middle ground
which is not either penetration
pricing or market skimming.
It follows the competitive
strategy of pricing in their
marketing is mainly for its
product portfolio. It won its
house and clothing brand for
kids, women and men. This
house brand generally is
priced in between the medium
to the higher category as due
to its premium policy of
pricing.
Place It is referring to place a
strategy which allows the
goods to make available in
front of the consumer. Next
Plc is the large retailing
It is the largest brand that has
more than around 100 stores,
which are operating in 50
countries. It business is major
in the UK in which an
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