Marketing Essentials Report: Tesco's Marketing Strategies

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MAEKETING ESSENTIALS

INTRODUCTION.....................................................................................................................1
TASK 1......................................................................................................................................1
P1, M1 Explaining the key roles and responsibilities of marketing function..............1
P2, M2, D1 Explaining how the roles and responsibilities of marketing relate to
wide business context.........................................................................................................5
TASK 2....................................................................................................................................10
P3, M3, D2 Comparing ways in which organisations use the elements of marketing
mix in order to achieve desired goals.............................................................................10
TASK 3....................................................................................................................................14
P4, M4 Producing and evaluating a basic marketing plan for Tesco........................14
CONCLUSION.......................................................................................................................17
REFERENCES......................................................................................................................18

INTRODUCTION
Marketing plays a crucial role in organisation in order to manage, control,
promote and increase effectiveness of operations and other functional units. Tesco
has its own business with number of functions such as marketing, commercial, IT,
operational development, supply chain, Tesco media, finance, diets and media
publishing. It is the biggest profitable grocery firm in UK offering number of products
and services including food, clothes, home shopping and furniture etc. The wide
range of products and services helps customers to fulfil their needs at one place. In
this regards, the report will cover the key roles and responsibilities of marketing
function and how the roles and responsibilities of marketing relate to wide business
context. In addition, the report will also focus on ways in which organisations can use
the elements of marketing mix in order to achieve desired goals and objectives.
Finally, a basic marketing plan for Tesco is provided in order to achieve the overall
marketing objectives.
TASK 1
P1, M1 Explaining the key roles and responsibilities of marketing function
Marketing can be described as a managerial organised process that helps to
manage different activities such as determining the requirements of customers,
anticipating future needs of consumers and providing satisfaction through quality and
effective products and services. This helps organisation to increase its production
and profitability. Marketing functions plays crucial roles and responsibilities in
managing different departmental activities within Tesco such as:
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Table 1 Roles and developments of Marketing Function
Market research: It is very crucial in marketing functions to collect, analyse and
distribute valuable data and information regarding market in order to make strategies
to implement them to provide satisfaction to customers (Lovelock and Patterson,
2015). The information can be collected from various sources such as market
research and surveys which will help to make strategies accordingly for the effective
establishment of operational activities of Tesco. In this regards, the marketing
manager is responsible for conducting market research according to the mission and
vision of organisation to provide services as per the requirement of customers. This
will help to provide satisfaction to customers and will lead in profitability and
production.
Market strategy: Marketing strategies not only helps to establish operations of
organisation in the market but also provide competitive advantage. It is an important
part of marketing function to collect information regarding market condition including
influence of political changes and price movements on marketing process. Marketing
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strategies helps organisation to establish its operations according to the need of
market. This also helps in providing information regarding products and services
offered by firm to customers that helps to promote the operations (McDonald and
Wilson, 2016). In this, marketing manager is responsible for managing strategies that
are helpful in providing clear and coherent message to customers about brand and
its vision and mission.
Consumer relationship management: Marketing functions plays an important role
in managing effective relationship with customers and employees working with
organisation. It is very crucial for the marketing manager to collect information
regarding customer tastes, preferences and perception in order to deliver services
accordingly to satisfy their needs. In this regards, customer database will help to
make satisfaction survey for customers. The information must be shared with
employees so that they can produce services according to the requirement of market
and customers. This will help to achieve loyalty and satisfaction of customers and
will enhance effective relationship. Customer relations help to enhance the repetitive
purchase behaviour which is beneficial for organisation in terms of profits and
productivity.
Employee management: It can be said that the performance of organisation
depends on the behaviour and performance level of its employees. It is very
important for the marketing manager to communicate with employees to listen their
issues and demands in order to manage relationship with them. This also helps to
make strategies to manage and control their work so that their performance can be
enhanced in terms of skills, knowledge and capabilities of producing quality products
and services (Ryan, 2016). This helps to motivate them towards their individual work
and increase commitment to work effectively. Marketing manager is responsible for
setting goals and deadlines for workers so that the tasks can be accomplished at
right time to achieve desired goals of Tesco.
Identification of business opportunities: Marketing functions helps organisation to
identify the growth and development opportunities in order to expand its operations,
productivity and profits. In this regards, an analysis of new market trends and
opportunities helps to develop strategies that are helpful in improving overall
performance of organisation in the market. It also helps to drive business success,
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productivity, profits and performance. In this regards, manager is responsible for
analysing the new opportunities for organisation in key potential areas to grab them
and become competitive in the market effectively.
Budget for marketing: It is very important for the marketing manager to manage
and control the budget for marketing and other promotional activities in order to
manage the cost of operations within organisation. It can be said that organisation
financial department must be aware of investments made in marketing activities in
order to control cost. Setting budget and monitoring is a key responsibility of a
marketing manager which helps to allocate activities related to marketing under the
budget (Pooler, 2018). There is a great impact of budget on organisation nature that
it is crucial for the management to ensure budget for every activity related to market,
financial and employees.
Brand development: The organisation requires an effective image in the market in
order to attract number of customers which can be new or potential. This helps to
increase business productivity and profitability. An effective brand image and
goodwill helps to attract consumers that it is the key responsibility of the marketing
manager to manage activities that are useful in enhancing or developing brand
image. Tesco is a well-known organisation and its operations are also known to
consumers. In this regards, marketing manager must manager strategies and tactics
to aid growth and development in brand image.
Maintaining relations with public: Public relations are very important for the brand
in order to promote product and services offered by organisation in the market. In
organisation, marketing manager is the person who is responsible for managing
public relation through managing activities such as he or she act as a spokesperson
towards media and manage seminars, interviews and meetings. This helps to
provide information regarding efforts made by the organisation in order to maintain
relations with public (Tuten and Solomon, 2017). It is a crucial activity as it helps to
provide a coherent message to customers about operations managed by business
according to their preferences and perception. This helps to develop brand image in
the market and aid in profits, productivity and competitive advantage.
In addition, marketing functions such as research, pricing, buying,
promotional, storage, processing, distribution, risk taking, product development,
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standardisation, selling, financing and after sale service etc. helps to identify the right
quality for customers and manage communication with them to satisfy their needs.
Marketing functions also helps to macro system in order to overcome discrepancies
and separations between those who are looking for exchange. Further, it helps in
maintaining, designing, improving, developing and acquiring products and services
that help to provide satisfaction to customers. Marketing functions are connected
with the budget of organisation which is helpful in managing and obtaining
information about customers wants and provides determination of selling.
P2, M2, D1 Explaining how the roles and responsibilities of marketing relate to wide
business context
Marketing function is an essential part of organisation in order to manage
various departmental work and activities (Charter and Polonsky, 2017). There are
several important roles and responsibilities managed and controlled by marketing
functions in order to enhance the growth and development in productivity and
profitability of Tesco. In this, marketing manager also has some role which must be
considered in order to align strategies with different departments such as:
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Table 2 Operations of Marketing Department with other Functional Units
Marketing and operation management: Effective management of operational
activities is crucial for the organisation in order to provide products and services in
terms of quality and effective to consumers in the marketplace. It also helps
marketing manager to formulate strategies in order to improve quality of their
services to achieve customer satisfaction. It is the duty of marketing manager to
work collaboratively with operational management and marketing functions to
promote values within organisation and employees (Smilansky, 2017). In this
regards, operational management requires effective strategies to manage work of
employees in terms of improving their knowledge and skills to produce quality
services. They are responsible for setting deadlines for workers regarding their work
to accomplish desired goals and objectives of organisation effectively. In addition,
the roles and responsibilities of marketing manager and functions also help in
improving and developing growth of operations to expand market ad customer base.
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Marketing and human resource management: The major strength of every
organisation is their human resources. Thus, it is the responsibility of marketing
manager to manage coordination with human resource department in order to
improve performance of both organisation and employees. In Tesco, human
resource management is responsible for managing and controlling different activities
that are important for business success such as allocating work, resources,
recruitment and selection and providing training and development programs to
workers (Rowles, 2017). The marketing function and department must work closely
with HR management in order to ensure that employees are giving their efforts for
the completion of task in time. This helps to achieve desired goals and objectives of
an individual and organisation effectively. HR management must provide training
programs to workers to improve and develop their knowledge, skills, behaviour,
capabilities and abilities to perform better and accomplish goals. In addition, HR
management also recruit highly skilled and qualified workers to achieve aim of the
organisation (Brassington and Pettitt, 2013). This not only helps to enhance
performance and effectiveness of operations but also provide competitive advantage
to compete others in the market.
Marketing and finance management: The most crucial department within
organisation is financial department. This department is crucial because it helps to
manage and control proper utilisation of resources including employees and raw
materials. Financial department works to control budget of different operational,
internal and external activities. The department allocate budget for the promotional
and other activities related to marketing (Kingsnorth, 2019). In this regards,
marketing manager is responsible for formulating and implementing strategies that
are required for effective budget controlling and monitoring. Financial department
works closely and collaboratively with marketing functions in order to set budget for
different departmental activities in order to save cost of various factors associated
with organisation marketing. This helps to provide opportunities for the effective
growth and development of Tesco.
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MARKETING FUNCTION ELEMENTS
Research: In this, information is collected from various sources such as market
research and surveys which will help to make strategies accordingly for the effective
establishment of operational activities of Tesco. Market research also help in
managing taste, preferences and perception of customers towards products and
services offered by organisation.
Pricing function: Pricing function manages the price of products and services
according to the customers (Brassington and Pettitt, 2013). The prices of products
and services must be fair such as not high or not too low in order to make fair profits.
This helps to justify the price for services offered by organisation in the market.
Storage function: Storage function work closely with marketing department in order
to hold the inventories until it is needed by consumers (Rezaei, 2015). In this
regards, the marketing manager is responsible for storing and protecting raw
materials and other resources including inventory until they become available for the
customers in the market.
Distribution function: This function is responsible for ensuring the process of
moving products and services effectively from the production point to the target
market where customers can access them. This process is very important that it
helps to deliver finished good to customers in the market through transportation or
other services within Tesco.
Product development function: This function plays an important role in managing
the quality and effectiveness of products and services offered by organisation to
customers in the market. In this, a product goes through some phases where it is
developed and improved according to the changing market trends and needs.
Products and services also managed by evaluating their performance.
Selling function: This function provides consumers through business to business
channels or retail outlets. Tesco prefer retail outlets where customers get access to
the services (Vellas, 2016). This includes identification of customer needs,
influencing decisions, responding to their response and managing forming
relationship with them.
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Planning: It is an essential part of organisation. It helps to formulate strategies that
are required for the promotion, sales, financial, distribution and communication
activities. The strategy is very useful for the organisation in order to achieve its
desired marketing and operational goals and objectives.
Thus, it can said that the functional units of organisation such as operations,
financial and human resource department are closely linked with the marketing
functions in order to make effective use of organisation resources and utilities. This
helps different departments working within Tesco to manage and control their work
to achieve their goals and improve their performances.
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TASK 2
P3, M3, D2 Comparing ways in which organisations use the elements of marketing
mix in order to achieve desired goals
Marketing mix is a strategy that helps in allocating products and resources at
right place, time and price (Marketing theories, 2015). It includes 7ps which are
described below for both Tesco and Marks and Spencer in order to evaluate and
determine the effectiveness of their strategy to remain effective in the marketplace.
Table 3 7PS of Marketing Mix Model
The development of stores system was seen with the establishment of one of
the main stores of Tesco PL, founded by Jack Cohen, which is a pioneer of the
methods of purchaser’s prevalence crossing the Asian market limits as well. Not only
is this system and stores seen to be prevalent in UK but have been seen to be wide
spread across 12 nations! Looking at the responsive market, Tesco PLC is grown to
be one of the major chains.
Product:
Some of the major products of Tesco seen in the market are like the
garments, gadgets which provide an even wider scope which will improve the money
management and will lead to the incorporation of sustenance. Also, Tesco is seen to
strive towards its development which is why they have been introducing a wide
range of products every now and then to keep the customers amazed. Be it the
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