Marketing Essentials Report: Analysis of TK Maxx Marketing

This report provides a detailed analysis of marketing essentials, focusing on the application of marketing principles within the context of TK Maxx. It explores the key roles and responsibilities of marketing functions, examining their relationship to the wider organizational context and the marketing environment. The report delves into the significance of interrelationships between marketing and other functional units, as well as the key elements of marketing such as research, strategy, planning, and tactics. Furthermore, it compares how different organizations apply the marketing mix and evaluates the tactics used to achieve business objectives. The report includes an introduction to the topic, detailed analysis of marketing functions, and a conclusion summarizing the findings, supported by relevant references.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
A. Key Roles and Responsibilities of the Marketing Functions related to wider organisational
context....................................................................................................................................1
B. Key Roles and Responsibilities of the Marketing related to wider organizational context2
c) Roles and responsibilities of marketing in context of marketing environment..................3
d) Significance of interrelationship between marketing and other functional unit of
organisation............................................................................................................................4
e) Key elements of marketing.................................................................................................5
LO 2.................................................................................................................................................6
1) Comparing ways in which different organisation applies marketing mix.........................6
2. Different tactics applied by organisations to demonstrate how business objectives can be
achieved..................................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
There is no secret to success. Marketing is a key in boosting and promoting and
delivering products and services to consumers (Armstrong et.al., 2015). Marketing is a
procedure of communicating and passing the goods and services to the clients. Marketing is
a core element in creating small enterprises into large endeavour. Marketing is a global
expression. Marketing is an essential tools for any business as it included understanding of
market place, needs and demand of the consumers, competition in the market and
profitability of the company. The present scenario is about TK Max Company which is
Department store company used to sell the products lower than other stores. TK Max has
about 1000 stores and it is one of the largest retailers in clothing. The report is analysis the
role of marketing and how it links with functional units of TK Max. 7Ps of marketing will
also study in this report which helps on achieving the goals of TK Max. Marketing
strategies of TK Max which helps in achieving the objectives of the organization will also
understand in this assessment.
LO 1
A. Key Roles and Responsibilities of the Marketing Functions related to wider
organisational context
Marketing functions plays a essential role to promote the industry and to reach their goals
and targets. The marketing function can including performing market research, product
development, and producing a marketing plan (Sheth and Sisodia, 2015). Also includes the
advertising, promotion, distribution for sale, customer service and public relations. The
duties of the marketing department , can include one or more following:
Conducting campaign management for marketing initiative: in the conducting campaign, in
the industry, goods and services promoted.
Monitoring and managing: to managing their accounts on internet,can contribute in
marketing functions.
Conducting customer and market research: it will help to any industry and it focused on
their targets the markets and opportunities.
Strategic marketing: in this function, making strategies which can promote the company
name in a positive way in the market.

All the functions can operate individually in the organisation to meets the needs of the
industry workers. To promote their company name apply different new and innovative
ideas in the market gathering and investigating different market information are currently in
trend by through marketing function which is done by the industry.
Marketing department includes the following which depends on the duties of Marketing
department:
Organize Campaign Programmes for marketing initiative- To promote and boost goods and
services of TK Max it is beneficial to conduct marketing programmes.
Monitoring and Managing Web Sites- It is very crucial element of marketing which helps
the company in boosting the products and services of the organization is to maintain and
monitor the social web sites on internet. It should be properly maintained and updated.
Market Research- Research is the factor which helps the organization to focus on their
market opportunities and targeted market.
Strategic Marketing- it is the function of marketing which boost the product and services of
TK Max in optimistic way.
B. Key Roles and Responsibilities of the Marketing related to wider organizational context
Considering the marketing strategies and idea of the marketer to achieve the aims
and objectives of the industry. Identify the users needs and wants, deliver them by adding
value to the products and communicate superior value is the key role of the marketing
manager in marketing. It takes four place: product, division, business unit and corporate.
There are so responsibilities of the marketing which helps TK Max in boosting the product
to world level.
Future planning- Marketing helps in boosting and promoting the product but
marketing also plan the product sales and revenue for future (Di Benedetto and Lindgreen,
2018). It involves decision regarding the area of marketing, nature and number of goods to
be scattered and the sales policy to be adopted.
Guide to the top authority- Marketing helps the top authorities to adopt the
marketing policies which will beneficial for the TK Max. Marketing assist in giving ideas
of expansion and marketing programmes.
Selection and Placement- Selection means not selecting the person by his face or
by any other thing which is not related to the quality and skills company wants. Selection

means Right men for the right jobs. Marketing helps in recruiting and selecting the right
person at right job.
Training and Development- Marketing manager helps the organization to identify
the skills and knowledge and capacity of the employees and decide the training is required
or not. Marketing also helps in planning the programmes and plans of training and
development.
Controlling the sales of the organization- the most critical and crucial function of
marketing is to increase the sales of TK Max. The main intention of the of marketing is to
enhance the sales of the marketing.
c) Roles and responsibilities of marketing in context of marketing environment
In present era, the business environment is drastically changing due to increase in
globalisation, competition and advancement in technologies. Marketers at TK Maxx has
huge burden on their shoulders regarding promotion and advertising the products and
services to wide range of customers. In this context, the roles and responsibilities of
marketing with context of marketing environment is described below:
Formulating marketing plans and strategies
In order to enhance the marketing and promotional activities, it is rudimentary for
marketing officials to devise precise marketing plans and strategies. Planning is the process
of establishing strategies in order to cope up with future uncertainties. Thus, in order to
sustain in dynamic business environment, marketers must devise precise plans and
strategies. It is their role and responsibility to create marketing plans.
Marketing information system
Marketing information system is the application which helps marketers in market
research analysis, planning and implementing strategies. This application provides required
information and deliver it in precise and timely manner. It is the role and responsibility of
marketing managers of the TK Maxx to utilise these technologies in precise and appropriate
manner so that organisation can sustain in dynamic market environment.
Monitoring marketing environment
It is the role and responsibility of marketing manager to scan the market
environment in order to assess recent trends floating within the society. This can be done

through thorough research and analysis of current market situations. Thus, marketing plays
prominent role in monitoring and analysing the market environment.
Creating customer value
Establishing customer value by providing them effective and quality products as per
their needs and expectations is very crucial which foster organisational growth and
development. This can only be done by analysing their needs. Thus, it is the role and
responsibility of marketing managers to enhance customer values by providing them quality
and effective products.
d) Significance of interrelationship between marketing and other functional unit of
organisation
Marketing is the science and art of exploring, creating, and delivering value to
satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and
desires. It defines, measures and quantifies the size of the identified market and the profit
potential. Marketing is inter related with every functional unit of organisation (Kotler,
2015). Marketing is done by marketers where they advertise and promotes organisational
products and services in effective and efficient manner. Like all other functional unit within
TK Maxx, marketing department plays significant role in the organisation. Marketing is
inter-related with the operation department of the organisation. Marketing managers discuss
with operation managers of the organisation regarding development of product, its design,
price and packaging and labelling. Marketing department is inter-related with human
resource department of TK Maxx. Marketing managers provides list of candidates required
for sales and marketing job to human resource managers and they work according to it in
order to recruit those candidates. Marketing management is related with production
department of the TK Maxx. Marketing managers provide precise information regarding
current taste and preferences of customers. Production department of organisation design
and develop product accordingly. Thus, in this context it can be explicitly understood that
marketing department is interrelated with other functional units of the organisation.
Marketing department plays prominent and significant role in the organisation. In order to
attain the business aims and objectives it is essential and equally important for marketing
managers to work collaboratively and collectively so that organisational productivity and

profitability can be enhanced (Weinstein and Pohlman, 2015). In this concern, it can be
understood that marketing department is important for the organisation as it helps in
promoting goods and services manufactured by the organisation.
e) Key elements of marketing
Marketing is the process of in which marketers creates promotions for products of
organisation and deliver it by using different channels and modes of promotion and
advertisement. There are four key elements of marketing functions which are interrelated
with other functional unit of the TK Maxx. In this context, the element of marketing is
described below:
Research
Research is done in order to acquire precise and accurate information regarding particular
activities. Like other functional department at TK Maxx, marketing requires robust
researcher in order to gather customer trends and preferences (Weinstein and Pohlman,
2015). Every department in the organisation conducts research in order to gather data and
analyse it in order to devise precise and accurate strategies which helps them in sustaining
in competitive environment.
Strategy
After conducting research and collecting data, the next step is devising strategies
and plans. Like all other functional units at TK Maxx, marketers devise strategies and plans
which are based on the analysed data. The strategies are formulated by strategic thinkers
and decision makers. This helps the management to gain competitive advantages through
which they can enhance their business productivity and profitability. Other functional units
follows the same method in order to formulate strategies and plans.
Planning
Planning is considered as an essential and prominent process which helps the
organisation in providing right direction and assists in reducing the future uncertainties and
risk. Like all other functional unit, marketers prepare plan in order to implement the
strategies they formulate after research. This is essential as it depicts the direction on which
they have to drive the organisation towards growth and development.
Tactics

Tactics is the element of marketing where marketing manager used variety of
methods to make promotion of products and services successful. There are different types
of gimmicks conducted by marketing managers in order to gain attraction of customers. In
similar way other departments within the organisation devised tactics in order to
accomplish common goals and objectives.
LO 2
1) Comparing ways in which different organisation applies marketing mix
Marketing mix is the model or theory which is the combination that can be controlled by a
company to influence consumers to purchase its products. It has been examined that
marketing mix is one of the essential significant tools that can be utilised by its marketing
professionals especially of TK Maxx to apply ways on which they can attain their desired
goals and objectives within business environment efficiently. This is an effective modern
significant marketing tool which is utilised by top brand upon its strategic operational
activities in order to reach out to expected success within industry (Dibb and Simkin,
2013). Varied of marketing ways can be utilised by its professionals in respect to gaining
desired success in the business sector. In this context of retails sector, it has been
considered that, retail sector is one of the emerging industry in nation which contributing
various types of services that can be utilised by its professionals in context of boosting up
the vale of brand and increase the sale volume of its business products in sufficient form. In
addition, number of different types of ways are suggested here through which, organisation
can utilised of marketing mix approaches to implementation of various techniques of
business functionalities.
Variety of different types of retail cloth products are being served by its
professionals in case of gaining desired success in the industry (Pike, 2015). In this context,
numbers of companies are using marketing mix techniques in unique ways to attaining their
desired marketing goals and objectives in marketplace efficiently. With the help of
impressive marketing mix technique, its professionals can boosting up the sales of the
business production.
TK Maxx 7Ps marketing mix: The marketing mix is combination of 7 elements of
marketing mix that can be utilised by TK Maxx organisation in order to raising its sales in
current marketplace.

Product: Product can be considered as an item which product value to satisfy the
needs of a certain group of people. According to modern demand and current trends in
clothing sector, TK Maxx's professionals require to utilisation of systematic approach to
find out new product lines which can be added up within existing products of firm. So it
will generate beneficial for the business.
Price: Prices of its existing products and new clothing products must be added up
affordable on which each of its customer can effectively apply it. Prices of each product
must be set out to computing appropriate profitability of business.
Place: Price can be considered as a factor that can be utilised by its professionals in
relevant manner at their; they want to launch new products. Places must be targeted by its
professionals by using market segmentation approach, so they will be able to specify their
retail products for a particular marketplace at there, they can gain desired success.
Promotion: It is another important factor that can be utilised by its professionals in
case of advertising its variety of existing products in marketplace (Friis, 2012). Its
marketing professionals can promote its existing products such as, press release, exhibition,
sponsorship deals, events etc. so they will be able to introduce retail-clothing products to its
customers in impressive ways.
People: The business professionals require setting up desired targeted audiences at
marketplace where, people can prefer to buy its products and services within business
environment in respective form. Product should be divided into different type’s age group
segmentation as per their preferences. Therefore, people will entitle to buying its existing
products as per expected ways.
Process: The system and process of the organisation affecting service provision of
the services. Therefore, organisation must comply the process on which well-tailored
process is place with reducing over costing of the business. All the process system of TK
Maxx can be utilised in such a manner in which, pay system, distribution system and other
systematic procedures must be applied by them to working business that is running
efficiently.
Physical evidence: Physical evidence is also one of the crucial elements, which
make influence on customer's mind in respective form. The enterprise professionals should

be physical evidence that the services was delivered accordingly. Therefore, its customer
prefers to think about to its products when they think to buy clothing form retail store.
2. Different tactics applied by organisations to demonstrate how business objectives can be
achieved
In order to accomplish organisational goals and objectives to formulate business
strategy to chose tactics that will help to achieve all goals and objectives (Baker, 2014). It
has been examined that, numbers of tactics and approaches can be utilised by its
professionals in case of generating highly efficient revenue from the marketplace as
expected by its management.
Product strategy: This strategy comes into marketing mix approach in which TK
Maxx firm can add more different types of product at retail stores which attract its
customers at wider level in order to boost revenue from market. Product effective strategy
can be applied in respective form by its professionals upon product strategy in order to
identifying such areas where they can development and inclusion of more products that can
raise up sales of business. TK Maxx currently implementing a strategic to keeping up
branded and unique their retail clothing products form its competitor's products which
create great difference among them. They should categorise their specific products as per
demand and different age groups needs, so its professionals will be able to identify the
actual scenario of its customer's response.
Pricing strategy: This is the strategy that, can be utilised in such a form where
pricing strategy can be applied in different manner. It has examined that, TK Maxx
organisation is utilising this strategy for different-different products (Aschengrau and
Seage, 2013). The company can use of low-price tactics to attract competitors loyal
customers towards their own products more in order gaining sufficient form. The strategy
must be affordable by each consumers, so that its customer can get relevant products at
affordable prices. Low pricing for quality of products boosting up customer satisfaction
level.
Marketing strategy: Marketing strategy can be used by its professionals to
promoting its products more to gaining impressive customer response. In some essential
offers and voucher must be offered by organisation towards its existing customers in order
to attracting customer to frequent purchasing its products and services more. Different

approaches can be used and social media or digital marketing approaches can be utilised by
its marketing professionals in context of promoting of its various retail products in
marketplace efficiently (Puddle, 2015). Online marketing approaches can be implemented
by firm to promoting its products at great level and also make its existing customer aware
about attractive voucher for advertising on official web sites. Social media networking is
one of the essential tools that can be utilised by them to reaching out effective performance
of the business.
Operational strategies: TK Maxx can implement strategy to produce a greater profit
including lowering of functional costing of business. It has examined that, serviceable
activities can influence the profitability level of the business. Its management team can
make efforts to investing capital to establishment of new plant and equipments to provision
of several facilities within attractive ways. So operational betterment efforts can raising up
the sales of firm.
CONCLUSION
From the analysis. It is concluded that, Roles and Responsibilities of the Marketing
Functions related to wider structure context it will help to any industry and it focuses on
their targeted the markets and opportunities. The report also concludes about Key Roles and
Responsibilities of the Marketing attendant to broad structure environment and Key
elements of commercialism within TK Maxx administration. The report also Compared
ways in which different types of organisation could apply marketing mix and Various
tactics applied by organisations to accomplishment of objectives can be achieved

REFERENCES
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