Marketing Essentials: Analysis of TK Maxx Marketing Strategies Report

This report provides a comprehensive analysis of TK Maxx's marketing essentials. It begins by defining the functions and tasks of the promotion utility, highlighting its role in managing brand image, conducting market research, and producing internal communication. The report then delves into the marketing mix, analyzing how TK Maxx utilizes the 7Ps to achieve its business objectives. It also examines the responsibilities of TK Maxx, including satisfying customer needs, tracking trends, and fostering innovation. Furthermore, the report explores the inter-relation of the marketing function with other departments such as Human Resources, Finance, Research and Development, and Production, emphasizing the importance of coordination for achieving overall business goals. Finally, it provides a basic marketing plan and promotion arrangements specific to TK Maxx, offering insights into the company's strategic approach to marketing.

Unit Title and Number: Marketing Essentials (Unit 2)
Word Count
Table of Contents
Table of Contents .................................................................................................................................1
INTRODUCTION................................................................................................................................2
TASK 1.................................................................................................................................................2
Functions and tasks of the promotion utility...................................................................................2
Analyse Roles and responsibilities of the marketing function in the context of marketing
environment of your chosen organisation .......................................................................................5
TASK 2.................................................................................................................................................6
Marketing tactics and action: 7Ps marketing mix to the marketing planning process to achieve
business objectives...........................................................................................................................6
TASK 3...............................................................................................................................................10
Basic marketing plan & Promotion arrangement of TK Maxx......................................................10
CONCLUSION..................................................................................................................................13
REFERENCES...................................................................................................................................14
Books & Journal:...........................................................................................................................14
16

INTRODUCTION
Business sector is becoming wider and broader which is increasing the competition in
market. Marketing essentials refers to process in which important things are used by company to
achieve objectives (Paurva, 2019). With changing period of time, it has become important to
access marketing essentials for carrying out the decision making properly. TK Maxx, multinational
corporation of apparels and fashion headquartered in U.S. Firm is totally different from TJ Maxx.
TK Maxx has its stores in various countries such as Australia, Europe, U.S etc. Main purpose of
this report is to understands the essentials of marketing so that goals are accomplished. This report
comprises of role and responsibilities of marketing function, inter-relation of roles &
responsibilities of market with organisation, use of marketing mix and marketing plan.
TASK 1
Functions and tasks of the promotion utility.
It is determined as a significant part of company that helps in promoting activities of business
organisation and its goods in an appropriate manner. In addition to this, the marketing is adopted for
influencing value of product in front of customer at Marketplace that assist in achieving favourable
outcomes in future period of time. In reference of TK Maxx, the role of marketing function which is
going to be mentioned below:
Managing brand it is important for business organisation to manage brand for increasing
sales and profit margin in future period of time. In reference of chosen organisation, the primary
purpose is to target its user by providing superior services to them in order to satisfy their needs. In
addition to this, it is used in enhancing brand image or reputation of company at Marketplace.
Charlesworth, 2020).
Accompanying market research in addition to this the purpose of marketing is to conduct
marketing research that helps in analysing need or demand of customer in the market. In context of
selected organisation, the main purpose is to grabbing opportunity that helps in increasing profit
margin in future period of time. In reference of TK Maxx, they conduct market research which
assist them in gaining information of customers & market. Moreover, they conduct research with
focusing on two methods which is primary & secondary research methods.
Producing internal communication in context of selected organisation, the focus is on
clarifying goals, price strategy that assists in achieving goals in timely manner. It also helps in
minimising issues and conflicts that is generated within business organisation. The primary aim of

TK Maxx is to manage the relationship with its user in order to increase productivity in the market.
It is determined as a significant part of company that helps in promoting activities of business
organisation and its goods in an appropriate manner. In addition to this, the marketing is adopted for
influencing value of product in front of customer at Marketplace that assist in achieving favourable
outcomes in future period of time. So, TK Maxx perform this role through managers & by using
communication tools such as smart devices, e-mails, etc. Through, this it is easy for them to
maintain flow of internal communication in effective way.
Marketing plan for achieving objective of goal or Organisation in relation to marketing the
marketing manager focuses on making effective plan. For instance, the organisation wants to
achieve 25% of market share of a specific product. The organisation increases its market share by
40% in upcoming 6 months (Fatos, 2016). The marketer focuses on achieving goal or objective of
organisation in context of production level and promotion contribution. In relevance with TK Maxx
they carry out this role of marketing function by properly developing strategies so that planning is
done accordingly.
Standardization and grading standardisation signifies that standard or quality that is
maintained in respect of quality, design, and colour that is adopted in particular product of business
organisation. The product must be categorised in different grades ABC for analysing the quality of
products and services in an appropriate manner. Grading focuses on making purchase or sales in
easier manner. It is adopted by organisation to protect quality of product and services to its
customer. In reference of chosen firm, they carry out this role as they do grading of products & is
maintained by manager of company. Through grading of products, they are able to increases
standard value of product.
Customer support services customer satisfaction is the main motive of every business
organisation. Therefore, they focus on providing effective services to its users such as after sales
services, technical Services and also provide credit facility that help in attracting large number of
users at Marketplace. In relevance of TK Maxx, this role of marketing function is carried out by
them with aim of assisting customers who face problem during or after purchasing.
Packaging and labelling is considered as a first impression of products and services that help
in attracting large number of a customer at Marketplace. They focus on making appropriate or
attractive packaging that help in increasing profit margin or sales in future period of time. It also
helps in increasing brand image or reputation of organisation in front of customer at Marketplace.
Therefore, the main motive is to make attractive packaging that help in promoting products and
services in mindset of customer at marketplace (Rangaswami, 2020).
Responsibilities of TK Maxx
Satisfying customer necessity the company emphasized on conducting appropriate

strategies, policies for assessing need of its user for achieving favourable outcome in future period
of time. Also they focus on organising services that help in implementing excellent strategy and
they focus on converting lead into sales. In this responsibility of TK Maxx, they fulfil this
responsibility as by providing quality and cheap products to customers which leads to total
satisfaction.
Track Trends and marketing competition Moreover, it is important for business
organisation to understand trend and fashion for taking appropriate decisions that help them in
satisfying the need of user. And also the focus is on generating idea in respect of competition level
that helps in achieving competitive advantage over rivalries at Marketplace. In viewpoint of TK
Maxx, they carry out this responsibility through properly updating their collection of goods on basis
of which they are able to deal with their competitors too.
Innovation is very important for increasing sales in future period of time. The primary aim of
chosen company is to execute latest technology by providing innovative goods or product to its user
that helps them in retaining for a longer time period. In context of TK Maxx, they focuses on this
reasonability as they always ready to produce something new. Through focusing on this innovation
, they developed plan & strategies accordingly.
Market information it is necessary for organisation to collect the necessary information for
handling various situation of market and launch new product in the market. They also focus on
analysing both micros as well as macro environment before they make efforts or contribution
towards boosting of products and services.
Product scheming and thoughts according to this process, the marketing function
emphasized on bringing innovative goods for satisfying need or want of its user. In addition to this,
the focus is on having unique or innovative goods for fulfilling the needs of user. Furthermore, it is
the responsibility of management team to manage financial statement for business organisations that
help in gaining profit in upcoming period of time (Rahman, 2017).
On the basis of above given topics, it has been analysed that marketing function is very
important for success and growth of business organisation. It helps the chosen organisation to assess
demand or need of consumer in an appropriate manner. It helps organisation in offering better
quality goods and services to its user at less price. In addition to this, the focus is on having unique
or innovative goods for fulfilling the needs of user. Furthermore, it is the responsibility of
management team to manage financial statement for business organisations that help in gaining
profit in upcoming period of time.
Analyse Roles and responsibilities of the marketing function in the context of marketing
environment of your chosen organisation
Marketing is considered as a practice by which there are various activities or function which

is performed by manager for attracting large number of users for their product and services that help
in enhancing sales in future period of time. It also assists in increasing productivity and
performance level of company for achieving competitive advantage over rivalries at marketplace. In
addition to this, there are different kinds of element like sales promotion, advertisement and
publicity that help in enhancing satisfaction level of its user during particular phase of time period.
In assistance of this, they also focus on providing free samples, discounts, coupons to its user for
increasing their awareness towards product and services in the market. For this procedure, it is
important to inter-linked various department of organisation in order to conduct different ask in an
improved way. Hence, the relationship among various marketing function that is going to be
discussed beneath:
Marketing and Human Resource Department HR professional is very important for
recruiting talented subordinate for performing various tasks in an appropriate manner. In reference
of chosen organisation, the marketing team emphasize on providing information that is connected to
job position that HR manager to select talented candidate according to their wants. Thus, it is
important to make appropriate coordination among both department HR and marketing department
that help in increasing profitability as well as sales of company in future time period (Rahman,
2017).
Roles- Main role of this function is to maintain and increase the productivity level of
business. Through focusing on this role they are able to fulfil objective of firm.
Responsibility- Main duty of this function is to measure profitability of company & keep
engage employees at workplace.
Marketing and Finance Department finance is very important for performing different task
in an appropriate manner. It is the responsibility of management to analyse need of fund in every
department. In context of marketing sector, there are different kind of promotional techniques that
involve personal selling, advertisement, publicity that help in performing different functions in an
appropriate way. And therefore, it is important to make appropriate coordination among finance and
marketing department. In context of an organisation, the financial manager focuses on making
appropriate budget for performing various functions of marketing in an improved way.
Roles- Marketing & finance department main role is to examine the availability of money
within business & keep records of every financial resources which are used.
Responsibility- Main responsibility of both department is to make management aware about
the financial resources & to make assure that whether they are used efficiently or not.
Marketing and Research and Development Department R&D department emphasis on
organising appropriate research for collecting appropriate information in respect of taste or need of
user in an appropriate way. They organise appropriate research for analysing the need of user during

particular phase of time period. The data and information is gathered from R&D department in
order to satisfy wants or demand of user entrepreneurial and Intrapreneurial Leadership in a
Globaling particular phase of time period (Nyuur, 2016).
Roles- Marketing/ research & development department role is to use tools & concepts on the
basis of which consumers actual need is identified.
Responsibility- Their responsibility is to access to consumer insights & provide management
aware about market changing environment.
Marketing and production department the production department is very important for
manufacturing product and services according to the need or want of customer during particular
phase of time period. Therefore, it is important to make appropriate coordination among both
marketing and production department in order to produce products that help in attracting large
number of users in the market. In context of Cadbury, the production department produces products
for satisfying demands of its user for achieving competitive edge over rivalries in the market that
helps in attracting large number of customers in the market. In addition to this, it helps in achieving
goals as well as objective of organisation in stipulated period of time (Sanclemente-Téllez, 2017).
Roles- Main role is to ensure that planing & organising process is carried out everything in
well organised way.
Responsibilities- Their duty is to provide quality output by using efficient resources &
money.
On the basis of above given marketing functions, it has been analysed that for success and
growth of company, the management team focuses on effectively coordinates every department. It
also helps in achieving goal as well as objective of organisation in timely manner. For this
procedure, it is important to inter-linked various department of organisation in order to conduct
different ask in an improved way. It also assists in increasing productivity and performance level of
company for achieving competitive advantage over rivalries at marketplace.
TASK 2
Marketing tactics and action: 7Ps marketing mix to the marketing planning process to achieve
business objectives.
In this competitive era, it is important to use marketing strategy and tactics so that goals are
achieved in proper manner. In relevance with TK Maxx, they use marketing mix as approach in
which it is set of tactics In which set of actions are well defined as how and what are to be achieved.
This approach is used by organisation depending upon their on their need and requirement.
Marketing mix is time consuming process, and which requires deep level of knowledge of both
marketing & research analysis. It is crucial for chosen entity to carry use this approach so that goals

and objectives achieved properly. It comprises of several components & according to which they
make decisions about the business. Thus, it is further discussed below-
Components TK Maxx Primark
Products Products is defined as thing or
service which is sued for sale
and purchase. Organisation
cannot carry out their functions
and operations without the use
of product. TK Maxx also have
larger portfolio of products such
as apparels, men and women
clothes etc. (Lo, 2018). These
have been applied in
organisational objectives as
they TK Maxx provide large
portfolio products which assist
them in achieving of goals at
wider area.
In relation with Primark, they
also have ample number of
products such as home-ware
products, clothes, cosmetics etc.
They sell products at affordable
prices so that customer get total
satisfaction (Logkizidou,
2017). Primark also has larger
portfolio, but they took time to
update their portfolio as
compared to TK Maxx.

Price It refers to value of thing for
which the sale process is carried
out. It is important to have
price of product so that
exchange of services can be
done. In reference with TK
Maxx, they use low based
pricing strategies. Through this
they are able to access larger
number of customers. By
adapting this pricing strategy,
they are able to achieve
organisational objectives as
they focus on disposable
income of consumer through
more profit is earned.
In context with this company,
they use competitive strategy in
which they sell low pricing
products when competition in
market is high. With this they
are able to increase their profit
and margin level. Through this
pricing strategy they gain profit
but with slow speed as
compared to TK Maxx.
Place- It is defined as location from
where the product of a company
is available. Place have a big
impact on customers mind as
because company make assure
that correct products are easily
accessed by customers. TK
Maxx is located in UK at
various locations such as
Windsor, Southampton etc.
which are easily access by
customers (Pogorelova, 2016).
Primark is also located globally
and in UK they have stores
around the country which
makes it easy for customers to
purchase products & also they
distribute their products via
online modes such as their
official websites. This makes it
easier for end users to access
products in convenient manner.
Promotion It refers to process which is
used by company to advertise
or promote the product in
market. This is an effective
method which is used by them
These also uses promotion as
way of promoting or advertising
the products. Various types of
methods are used by them such
as social media tools, digital

to make awareness of product.
In relevance with given firm,
they use promotion methods
such as direct selling, viral
marketing, etc. TK Maxx uses
this to achieve objectives
because they do their promotion
through town using both
traditional & digital marketing.
marketing, etc. The manager of
firm makes ensure that
appropriate method is adopted.
(Othman,, 2019).
Physical evidence This is another component of
marketing mix in which it is
defined as physical proof of
organizational existence. In this
it includes written documents,
paperwork, etc. In context with
chosen entity, they too have
physical evidence such as
stores, layouts, and many more.
In viewpoint of this company,
they have physical evidence
such as stores, pamphlets or
portfolio their products,
distribution, warehouse,
inventory stocks, etc. With
help of physical evidence, it
become easy to maintain trust
of customers.
Process This refers to process of
distribution of goods and then
final delivering it to customers.
In context of this firm, they
carry out their processes with
proper planning and analysis so
that satisfaction is achieved
properly.
In context of this entity, they
also assure that, process of sale
and purchase is done within a
given time period. Through
carrying out these processes, it
is easy for them to deliver total
satisfaction level to end users
(Wood, 2016).
People People are those who work in
organisation. In context with
company, they have people
such as staff, employees,
gatekeepers, etc. (Jiménez
Primark also does have many
people within a firm such as
salesman, subordinates, and
many more.

Jauregui, 2019).
The above discussed paragraph states that marketing mix assist firm to make decisions &
use resources effectively. Also, it is duty of manager to assure that correct approaches are used to
achieve objectives. It is time consuming but is needed to be used effectively for achieving of better
results. This is also specified that these explained seven P'S has been applied by TK Maxx through
which they are able to achieve enterprise objectives within a period of time. Through using these
seven P'S, it is easier for them to critically understand the market structure in same industry of
competitive market.
TASK 3
Basic marketing plan & Promotion arrangement of TK Maxx
Marketing plan is determined as a written document that included whole information that is
connected to the marketing purposes in successful manner. The benefit of this document displays
the plan that is connected to whole year that helps organisation in management of plan in an
appropriate manner. In context of chosen organisation, it is analysed that the manager emphasized
on adopting proper marketing plan for performing different task in an appropriate manner. There are
different steps that are taken by business organisation in relation to marketing plan that is going to
be mentioned below:
Company overview:
TK Maxx is considered as an American apparel and home products organisation which is
founded in the year of 1994. The founder of this company named as Bernard Cammarata. In
addition to this, the organisation offers different variety of products such as clothing, footwear,
furniture and many more that is provided to its customers for satisfying them. They provide their
products and services in different countries such as Germany, Australia, UK that help in attracting
large number of customers towards product and services at Marketplace.
Vision and Mission The mission of business organisation is to provide superior quality
products to its customer in order to satisfy their need. In addition to this, the vision of chosen
organisation is to operate their business around the globe that helps in attracting large number of
customers at Marketplace (Paurva, 2019).
Objective the main purpose of TK Maxx is to enhance the portfolio of goods by introducing
new products and services for its user and offer them superior experience in the market. In current

time period, the company focuses on introducing innovative products that help in achieving goals as
well as objective in timely manner. Their main focus is to increase its market share by 20% in 6
months.
STP approach this approach is determined as segmentation, targeting and positioning of
goods in the market. In reference to chosen organisation, the manager focuses on using different
tactics for enhancing success or growth of innovative goods of business organisation. In addition to
this, the STP approach in context of chosen organisation that is going to be mentioned below:
Segmentation is considered as the process of categorising the individual person in various
regions according to their needs or demands. In context of chosen organisation, the manager
emphasized on segmenting their goods depends upon age, population, education, income and many
more. The whole market is categorised on the basis of demographic, Geographic, behavioural and
psychographic region (Charlesworth, 2020).
Targeting the management team of business organisation emphasis on targeting ample of
individual person depend upon the demographic proportion. The marketing professional
emphasized on targeting individual person among the age of 20-40. Because in this age, the
individual person prefers fashionable products and services that helps the company in achieving
competitive advantage over rivalries at marketplace.
Positioning the organisation emphasized on maintaining appropriate brand image or goodwill
of product and service of company in front of user at Marketplace. It also helps in enhancing sales
and profits of chosen organisation in upcoming time period. They introduce innovative product for
attracting ample of user among the age of 20-40 during particular phase of time period.
SWOT analysis
SWOT analysis what is a framework which is adopted by business organisation to assess
internal or external environment of company. Before introducing innovative product, it is important
for chosen organisation to consider an internal or external environment that helps in gripping
opportunity and eliminating threat in the market. The SWOT is adopted for analysing is strengths,
weaknesses, threat as well as opportunities of business organisation which is going to be mentioned
below:
Strengths Weaknesses
TK Maxx focuses on operating their
activity and function of business
organisation at both local and global
level that help in attracting large
number of customers at marketplace.
In reference of TK Maxx, they do not conduct
appropriate research in order to analyse the
need or want of customer that decreases the
profit margin of company (Fatos, 2016).

Opportunities Threats
The primary purpose of TK Maxx is to
adopt innovative technology in order to
provide innovative goods and services
to its end user and retain them for a
longer time period (Rangaswami,
2020).
There are different kind of promotional activity
which is used by company that help in
increasing cost for the company is determined
as a main threat for TK Maxx.
Budget: budget displays the money or fund which is required by management team of TK
Maxx organisation for introducing innovative or fashionable product for conducting different
functions in an appropriate manner. For the chosen organisation, the budget is around 15000£
related to fashionable products that is going to be mentioned below:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Early money 4000 5000 6000 5000 20000
Venture 8000 13000 13000 33000 11000
Total 12000 18000 19000 38000 31000
Promotion lay out
Advertising 6000 3000 4O00 3300 3250
Publicity 4000 2000 6000 2200 2000
Direct selling 4200 2000 5000 3000 4650
Total 14200 7000 15000 8500 9900
On the basis of given budget, it has been analysed that TK Maxx required around 15000£ for
introducing innovative product. In addition to this, the management team of company emphasized
on various promotional techniques for introducing product in an appropriate manner and achieving
goal in timely manner. Furthermore, with help of market plan it is easy to make decisions as well as
eliminate the risks in future period of time (Rahman, 2017).