Business Marketing Essentials: A Comprehensive Report

Verified

Added on  2025/05/02

|22
|4690
|356
AI Summary
Desklib provides solved assignments and past papers to help students succeed.
Document Page
BUSINESS MARKETING ESSENTIALS
1
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
LO1 Explain the role of marketing and how it interrelates with other functional units of an
organisation................................................................................................................................4
LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to
achieve overall business objectives..........................................................................................10
LO3 Develop and evaluate a basic marketing plan..................................................................13
Conclusion................................................................................................................................19
Reference List..........................................................................................................................20
2
Document Page
Introduction
Marketing plays a vital role in productivity and profitability of business or project conducted
by an organisation. This discussion includes different essential factors of marketing that make
the approach efficient for marketing the product. In order to increase the awareness of
organisation’s product and organisation brand, the marketing department plays an important
role to spread the information about product through different medium. These techniques to
promote and market the product are discussed aligning the business of selected organisation,
which is Tesco. A scenario is introduced in this discussion where Tesco is hiring a marketing
manager, thus marketing manager presents a business plan as a part of interview process.
Tesco has total 3,739 stores in UK and they want to increase number of stores in UK by
implementing new business plan (Tesco, 2019).
3
Document Page
LO1 Explain the role of marketing and how it interrelates with other functional units of
an organisation
1. Introducing the marketing concepts aligning the current and future trends
Marketing is an essential part of business process of organisation, which analyse the
requirement of customer, forecasting the customer needs and meeting customer requirement
in an efficient way (Lim et al., 2018). Different definitions have given in the context of
marketing which described the distinct features of marketing. Tesco’s management must
evaluate its marketing strategies applied in its business plan, which need to be matched with
the mentioned feature of marketing given below:
Management of organisation use their skill to plan the marketing process, provide
essential resources for marketing and control the functionality of marketing
department. In this way, organisation increases the productivity of marketing
department with their managerial skills.
Customer satisfaction is main objective behind the marketing activities and these
activities meet customer needs.
Efficient marketing activities generate revenue for organisation, thus values are
exchanged in order to meet customer need that enhances the profitability in
organisation business.
The concept of marketing is introduced in business since last few decades in a major extent as
production, and selling was primary concern earlier. Earlier the organisation was
concentrating on production, quality of product. The concepts of sales came little late in the
industry where concepts of marketing is incorporated with sales in the year 1960.
4
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
Figure 1: Current and Future trends of marketing
(Source: Romero and Vernadat, 2016)
The organisation Tesco wants to conduct its business considering the ethical factor associated
with its business. Therefore, Tesco apply business strategy that benefits the customer taking
the account of organisation’s external factor such as competitor, supplier and consumer.
Figure 2: External factors affecting marketing of organisation
(Source: Lee et al., 2015)
2. Analysis of different marketing procedure
5
Document Page
Tesco has different departments in its organisation, which creates different functions for
marketing department of Tesco. These departments of Tesco are Research & Development
(R&D), Human resource department, Operation, Finance and Sales department. The nature of
working procedures is different in the respective department and their approach toward their
assigned job affects functionality of marketing department. Therefore, Tesco must maintain
the balance between functionalities of other department and marketing department in its
organisation so that marketing of product become successful. An organisation must consider
the analysis of particular segmented market an important part of marketing strategy. This
helps Tesco to identify the approach of customer toward services and organisation can target
market to expand its business growth.
The identification of customer needs for product and services would guide Tesco to
overcome the target market from its competitor as Tesco meets the requirement of customer
before other companies. In the context of Martell, (2018), the market analysis and evaluation
of customer preferences would increase the productivity of services that organisation is
offering to its customer and enhance the product valuation as well. This analysis generates
idea for making the business process effective and efficient. Marketing mix is an efficient
tool that can be used by organisation to convert the idea into services or product. In other
words, marketing mix is part of business strategy through which organisation sees the
prospects for its business and applies that strategy to achieve the business goal. The nature
of marketing process is decided by the kind of customer and there are two types of customer
that is Customer-to-customer and Customer-to-business.
3. Evaluate the role and responsibilities of marketing manager in the organisational
context.
Marketing manager has several roles and responsibilities for Tesco in the organisational
context. The first requirement of marketing manager’s role is to diagnose the relationship of
organisation with its customer. Marketing manager ensures the structure of process for
marketing the product and services are meeting the organisation objective or not. The other
functionalities of marketing manager is described below:
Brand Development: Marketing manager need to develop a unique and influential image in
the mind of customer for Tesco product. Manager can achieve this by adopting some
measures in promoting the brand. This approach would create a reminder of Tesco for
customer whenever customer wants to shop groceries or other retail products. In order to
6
Document Page
achieve this, marketing manager need to make marketing plan annually and enhance the
communication and flexibility among its marketing team (Nguyen et al., 2018).
Competitive Intelligence: This concept allows the marketing manager to collect data from the
market in order to make efficient marketing strategies. Data can be gathered from the
customer preferences for product and customer behaviour. Most important resource for Tesco
is marketing strategy used by its competitor organisation that provides a strong approach to
marketing manager.
Public Relations
The marketing manager should work with PR, which is selected by Tesco to understand the
scenario of public relation. This will help marketing manager to conduct its work
innovatively. Beside this, marketing manager gives many interviews in different events for
promoting the product of organisation.
4. Different influences of marketing department on other departments of organisation
and their interrelationship
Marketing department of Tesco represents the image of organisation, as it has to coordinate
with several business aspects of organisation. Marketing department helps Tesco to sustain
company’s overreaching image in the global market by promoting its organisation brand.
Tesco is an integrated unit formed from different functional units such as marketing, IT,
Operation, HR and others. Therefore, marketing department helps to sustain this integration
of different departments by supporting, product development and risk analysis.
Human Resource Department
Marketing team needs to work with human resource department in Tesco in order to track
skills and creativity of staff in organisation (Aviso et al., 2018). Human resource department
has responsibility to provide workforce to organisation and provide training to Tesco
employee to develop skill. Therefore, HR department will get support from marketing team
in context of hiring potential candidate in order to meet business goal.
Production Department
The role of marketing department is to provide deadline to production department for
manufacture new product. It becomes easy for marketing department to promote new product
7
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
in compare to existing product in a market. Thus, marketing team gets competitive advantage
from the functionality of production team of Tesco.
Research and Development
Research and development (R&D) team of Tesco conduct various researches regarding the
new product that Tesco plan to launch (Zhang et al., 2018). Therefore, R&D team can
provide information about the market to marketing department in order to have effective
promotion.
IT Department
After IT became advanced in last few years, it has affected the functionality of other
department of organisation (Martell, 2018). IT has introduced a new concept of marketing
through online resource. This new concept is digital marketing and this supported marketing
department to track customer purchasing behaviour.
5. Importance of marketing in the organisational context
An effective marketing is a soul for multinational organisation like Tesco that believe
marketing a measure to achieve the business goal in the competitive market. The value and
importance of marketing is described considering UK as location below:
Get the word out: The promotional strategies of Tesco’s product by organisation’s marketing
team would spread awareness among the people of UK toward the brand and services of
company. In this way, marketing team got the word out of its organisation’s brand and
product among the people of UK.
Increases Tesco’s reputation: Marketing team use the brand value of Tesco whenever they
promote product and services of Tesco. In this way, marketing team increases the brand
valuation and create new opportunities in the market of UK. Show casing the brand value
would enhance the sales volume and increase the revenue for Tesco.
Provision of Healthy competition: In order to facilitate healthy competition in the market of
UK, Tesco marketing department kept the range of product’s price within the reach of
potential customer. This provides flexibility to customer to choice the product according to
their preferable prices.
8
Document Page
Conclusions that emphasize the significance of having effective interrelationships
between different functional departments
Marketing manager plays an important role in making effective relationship with other
department of Tesco and this is important for enhancing the speed of operation in its
international market. From the above context, it is clear that all functional units in business
operations are interrelated with each other. This interrelation depends upon how the
marketing manager deals with other department employees. Marketing manager friendly
approach would clear so many doubts for business operation of Tesco and positive feedback
from manager to respective department of organisation helps them to improve their job. In
this way, the productivity would come automatically with mutual understanding of all
departments.
9
Document Page
LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to
achieve overall business objectives
The main functionality of manager to meet the customer requirement with Tesco product and
service in such a way that objective of organisation can be achieved. The most efficient tool
used by Tesco is marketing mix in order to set-up objectives for its business. In this context,
the marketing mix of Tesco is compared with marketing mix of Sainsbury, which is another
large grocery chain of UK.
Product: Product of 7P’s marketing mix refers to choice of product, the procedure of
making the product and for how much time the product will sustain in the market (Copley,
2018). Tesco has wide range of products such as it provide books, technology, beauty
products and many other retail product are facilitate by this organisation in the market of UK.
As Tesco has wide range of products, therefore, company facilitate the product distinctively
in their store separately. Tesco also provide financial solution to its customer such as loan,
insurance by Tesco bank.
Sainsbury has huge range of its product line, which is estimated as 30,000 varieties of
product. The twenty percent of total product is manufactured in-house. The product of
Sainsbury includes cloth, foods, home decor, and many other products, which is consumed by
people of UK. Therefore, both organisations provide quality product to customer and both
are giant retail industry in the market of UK. The product life cycle for both the companies
reaches to its saturation point and they need to put business strategies consistently in order to
maintain their market share.
Price: Tesco cost their product price according to the demand of customer rather than
following the market standard for pricing the product. Tesco keeps the level of price
comparatively low as compared to market price of product so that company can gain the
customer satisfaction. In the contrary of this, Sainsbury keep the price of product according to
the market standard of product. Sainsbury believe quality of product in reference to customer
satisfaction (Minculete and Olar, 2018). Both companies offer discount in their product in the
festive season and both believe in quality service for product.
Place: Tesco has 6800 outlets all over the world whereas Sainsbury has 2200 outlets in the
worldwide. Tesco are fulfilling the requirement of customer with its different types of stores,
10
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
which is diversified as Tesco express, Tesco metro, Superstore and Tesco bank. In other side,
Sainsbury also fulfil the requirement of its customer through supermarket, Agros stores,
convenience store where range of clothing and merchandising is available. Both organisation
has located its stores in a specific way that any issue related to supply chain must not create.
Consequently, the location does not create any gap between supply and demand.
Promotion: Promotion is vital factor that boost up business of Tesco on the global scale.
This organisation is famous for its low price and high quality and most of the people in the
global scale aware about this service. Therefore, it became possible for Tesco to make aware
about its services to people through various medium. In order to spread information about its
services, Tesco took the help of newspaper, poster, Television, social media for its
promotional activities. Tesco conduct loyalty program to motivate customer to remain with
company services for lifetime.
In the context of promotion, Sainsbury also follows the same concept as Tesco follows in
order to increase its customer base and business expansion. Sainsbury motivate its customer
by promoting its product with the help of Television, newspaper, poster, and social media.
Sainsbury conduct both type of promotion that is Above-the-line (ATL) promotion and
Below-the-line (BTL) promotion to spread information about its services and brand.
Sainsbury also conduct loyalty program for motivating people of UK to associate them with
Sainsbury goods and services.
People: Tesco business depends on the internal environment of organisation because of this
productive outcome obtain from Tesco’s business. This organisation has employees around 4,
80,000 those contributes their services to Tesco’s customer on the global scale. Tesco
enhance its employee’s skill by conducting training program so that they can give quality
service to customer. In order to encourage the employee, Tesco promote their employees
based on their efficient performance.
Sainsbury consider its employee a key factor of success in organisation business. Therefore,
Sainsbury consistently conduct training program for skill development of its employee. Thus,
both organisation understand the importance of employee working in their organisation and
reward them in order to make the business growth consistent.
Physical evidence: The location of different outlets influence the business of organisation
and it is completely depend upon customer comfort that how they feel about the location of
11
Document Page
store (GÜREL and AYDIN, 2016). In this context, both organisation that is Tesco and
Sainsbury has distributed its stores as per their own business strategies according to
geographic features and other factor related to respective location. Sainsbury facilitate its
customer to track its store location through a feature incorporate in its website.
Process: The process of both organisations uses the same technique to bring the product from
store to end user. In this context, organisation is using online services that make the process
faster than physical one. The physical approach of customer is another important process
where customer visits the store and buy product from there. In online process, the staffs of
company visit the customer location to deliver the product and after receiving the product,
customer pays the price. Therefore, Sainsbury and Tesco both are managing their huge retail
business with almost a similar processing structure.
12
chevron_up_icon
1 out of 22
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]