Marketing Strategies: TK-MAX Analysis and Mix Comparison Report

This report provides a comprehensive analysis of the marketing essentials of TK-MAX. It begins by outlining the key roles and responsibilities of the marketing function, emphasizing the importance of market research and interdepartmental communication, including finance, human resources, production, and procurement. The report then explores the analysis of the marketing role within the wider organizational context, highlighting the significance of market segmentation, marketing strategy, and planning. A comparison of the marketing mix elements (product, place, price, promotion, people, process, and physical evidence) between TK-MAX and WAHACA is presented, with a focus on how each company utilizes these elements. Finally, the report evaluates and discusses the development of a marketing plan for TK-MAX, providing insights into strategic decision-making and implementation. The report covers various aspects of marketing from product planning, price fixation to promotion and sales support. The importance of market research and its techniques are also discussed in detail.

MARKETING ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1 Key roles and responsibilities of marketing function in TK-MAX : ....................................1
P2 analysis of marketing role relate to the wider organisational context : ...............................3
LO 2 ................................................................................................................................................5
P3 Comparison of ways of using Elements of marketing mix in TK-MAX and WAHACA : ..5
.....................................................................................................................................................8
LO 3 ................................................................................................................................................8
P4 Evaluating and developing of marketing plan in TK-MAX .................................................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

Illustration Index
Illustration 1: 7Ps of marketing mix................................................................................................8

INTRODUCTION
In order to define market essentials of TK-MAX, it is important to understand that market
is an essential tool in every organisation. Without market, a company can not make product or
sell a product. It covers various aspects such as supply chain, needs and satisfaction level or
preferences of customers. Marketing strategies are different as per the differentiation of
structures. Customers are the core essential in marketing essential. Because it is the factor who
influenced the organisation and affected by organisation as well. There are various types of roles
and responsibilities of a marketing department. The main responsibility is to find out the macro
environment. Micro and macro environment are two factors of environment. Macro environment
can be analysed by pestle analysis and micro environment can be analysed by swot analysis.
Swot analysis refers strengths, weaknesses, opportunities and threats of a company. While, pestle
analysis refers political, economical, social, technical, environmental and legal factors. It is
necessary for a marketing department to interrelate with other department such as finance
department, human resource department, production department and procurement. Furthermore,
marketing department can not make any strategy without inter communicate with other
department. Finance department ensure about the resources available in the organisation.
LO 1
P1 Key roles and responsibilities of marketing function in TK-MAX :
Roles and responsibilities of marketing functions in any organisation is vital and broad.
Marketing functions help in to the process of planning and execution of various concepts. Roles
of marketing functions are as follows:
 conduct campaign
 marketing information system
 analysis of market environment
 brand evaluation
 develop promotional channels
 evaluate social media channels
marketing functions are the combination of buying, selling, transporting, storing, standardization,
grading, financing, risk taking and market information(Baker, 2014).. To develop an internal
communication is also a role of marketing department. To evaluate the best social media for
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developing a plan is a core function in any organisation. To promote products and services of a
company, marketing department should conduct a campaign. Marketing department helps in to
find out the resources to develop a plan. It interrelates with all other department before going to
make any strategy relates to the campaign. Marketing department is responsible to create
websites. It conducts campaign to focus on sales cycle. Responsibilities of marketing department
such as :
 product planning
 price fixation
 evaluate the distribution channel
 sales forecasting
 communications
 sales support
 market researches
To develop marketing strategy is a main responsibility of marketing department. The main
component of market strategy is to develop and grow market share. Marketing strategy can be
built on market research. Market research is another responsibility of marketing department. It
can be done through various techniques or methods such as primary research or secondary
research. Market research helps in to provide informations related to the customer's preferences
and requirements(Baker, 2014).. To identify the target market is a process of market research. It
also analyses the strengths and weaknesses of a company and analyse the opportunities and
threatens as well. Roles and responsibilities can be varied upon the variation of structure of an
organisation. Develop a product as per the needs and requirements of a customer is necessary.
Because if a company is not producing a product as per the customer's requirements then it will
decrease the efficiency of productivity. Just making a strategy of a product is not enough. After
making a strategy, it necessary to implement the strategy as well. Gather informations related to
the target market. Roles and responsibilities in the context of marketing environment plays an
initial role for any organisation. Marketing information system gives the data related to the
product, planning, implementation and monitoring. Marketing department builds the brand
equity among the customers. customers prefer the product of only branded companies. It makes
the reputation and loyalty of the company among the customers.
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P2 analysis of marketing role relate to the wider organisational context :
Marketing plays an important role in implementing and successfully managing the whole
market. It also managing the companies marketing policies. The market oriented and market
functionally are depended upon to each other. The basic aim of TK-MAX is to manage the whole
market functionality. It also improves the business performance and finding the new firm should
be re allocate the power between marketing strategies and their functionality(Baker, 2014)..
There are different ways to reflect the strengths of your product and responsibilities:
Market segment: the basic role of the members of your sale and marketing team assumed and
depend upon your product. How can you offer product in markets is very important.
If some times our product is technically strong so that it is very effective for industrial purpose.
The role of marketing team member is very responsible for an industry and it will be expert for
your product.
Marketing Strategy : sales and marketing team know about the market segment and they make
sure the marketing strategies and apply for the profit. Each team member has responsibility to
manage the whole sales department. The strategies will provide the valuable guidance and
succeed the market environment. The strategies build a realistic possibilities and that will be
measured the research.
Marketing planing: marketing team developed the overall strategies, each member has
responsibilities to manage the whole sales department and implementing the marketing plan for
the responsible areas. The whole team has to work together to preserve the overall company
image and identifies the requirement of market segment(Baker, 2014).
Marketing tactics: this is important role of sales and marketing because tactics are short and
small term plan that will be used in marketing which are implemented and that can be attracted
to the target consumers. They have limited time offer which provide the incremental boost in the
marketing plan. It will help the initial pressure from one competitor to other and that will boost
the sales and marketing.
Marketing Outcome: Team member does not meet the same objective of a particular segment,
the role of other team support and improve the performance. Each member has own
responsibilities for his own work if all target has been completed it defines as success of
effective team member. The main aim to achieve a common approach that will balance the sales
and marketing team.
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Developing market plan is interrelates with many other functions and departments of TK-MAX
such as :
 With operations management
 With finance department
 With human resource management
 With production department
 With procurement
 With research and development
 With personnel
marketing and finance department is interrelated as :
Activities of marketing department Type of relation Activities of finance dep.
Sales forecast → Cash flow analysis
Marketing mix ← Financing needs
Management activities ← Financial profit
Decisions related to policies ← Categories of clients
Communication activities → Final result
marketing and human resource management is interrelated as :
it includes sales team, production target, research and development. It is necessary for marketing
department to interrelate with human resource management as well.
marketing and production department :
Activities of marketing Type of relation Activities of production
Sales evolution forecast → Capacity planning
Portfolio management ← capabilities
marketing and procurement:
Activities of marketing Type of relation Activities of procurement
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Research of new material → Procurement of new material
Research of new suppliers ← Procurement of new suppliers
marketing and research & development :
Activities of marketing Type of relation Activities of R&D
Market researches of new
product
→
←
Developing new product
LO 2
P3 Comparison of ways of using Elements of marketing mix in TK-MAX and WAHACA :
Marketing mix is a main part of market planning. It covers all the factors from
manufacturing to the end of sale process. All organisations are using this tool to make strategies
of marketing. Primarily it includes 4Ps but now it includes 7Ps of marketing. 7Ps of marketing
are :
 Product : the product of company have quality, customer service provided, availability of
branding properties. They must full fill the requirement of consumer and their product,
services. The product should complete the task when the customer wants and it should
work on that product.
 Place : the product should be available from market where the consumer easily find the
shop. It is very high performance that will be available on the market and online you will
order the product many options are available as e-commerce or an online shopping. If our
product is available in the markets so that it is important for company growth. The
location of online store must be approachable and the product delivery part must be good
in online e-commerce website.
 Price : the product should be available on online market with affordable prize and it
should always be seen as a representing as a good value. It should be available on
cheapest prize. The main motive of online marketing is to provide a good product and
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customer satisfaction and usually customer are happy to pay more for something that
work really very well.
 Promotion : promotion is process when we are communication with the consumers by
using marketing selling advertising, sales promotion. Social media is the biggest
communication tool for an organization with the help of social media we promote the
product and quality of product. it is the best way to used in organization(Armstrong, and
et.al., 2014). .
 people : it includes all the human force which are directly or indirectly connected in
making a strategy or a product. This factor is important in any organisation because
without human resource, company can not produce any product.
 Process : it includes all the activities which are accomplished in an organisation to
achieve goals. This factor mainly consider the flow of activities such as human activities
and financial activities.
 physical evidence : physical evidence includes logo, brand name, signs or labelling and
packaging of a product.
Comparison of marketing mix :
Tools of marketing mix TK-MAX WAHACA
product This company is providing
restaurant services to the
customers. Service and
product of the quality is the
most important factor for this
company.
The quality of the product is
worst. It did not provide the
best quality of products and
service to their customers.
price It is using differentiation
strategy by giving new
products and innovative ideas
in existing product.
It is using penetration strategy
of marketing. Due to this,
company's profit margin is
low. The indirect cost of this
company is high. Thus, it
charges higher amount of price
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with cheaper quality of the
product.
place Place is wide and broad. It also
includes international level
restaurant as well
Place is very small and narrow
of this company. It does not
cover both areas such as rural
and urban.
promotion According to this company,
public relation is the best
method of promoting the
products.
This company is using direct
call and advertising techniques
to promote the products. These
promotional techniques are
very useful in to promote the
products in to the market. It
helps in to maintain the
position of an organisation in
competitive market.
people Main aim of this company is to
increase the numbers of
customers and increase market
coverage.
The objective of this company
is to increase the satisfaction
level of their customers.
process The company provides sales
after service as well. Because
the main objective of this
company is to satisfy the
customer.
Process is very complex to
understood of this company as
it is hard and unmanaged.
Physical evidence This company do not use
physical evidence to attract the
customers.
Physical evidence are used by
this company to attract the
customers.
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Illustration 1: 7Ps of marketing mix
Source : 7Ps of marketing mix, 2016 (https://www.locusassignments.com/solution/unit-2-
marketing-essentials-assignment-solution)
According to this diagram 7Ps includes all of these factors.
LO 3
P4 Evaluating and developing of marketing plan in TK-MAX
Every plan requires a systematic method to be followed. Market planning is a complex
process as it is a process of understand the level of customer's satisfaction. To reach to the
customers with the right approach is essential for successful marketing strategy. For this, there
are some stages which should be followed such as :
 analysis
 planning
 implementation
 control
 marketing strategy
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