Marketing Essentials Report: Top Shop's Strategies and Analysis

This report provides a comprehensive analysis of Top Shop's marketing strategies, focusing on the key elements of the marketing function and its relationship with other departments. The report begins with an introduction outlining the significance of marketing in the modern business landscape, particularly within the context of Top Shop, a British multinational fashion retailer. It then delves into the roles and responsibilities of the marketing department, including customer needs assessment, innovation, trend tracking, and brand value improvement. The report also explores the interrelationship between marketing and other departments such as HR, finance, operations, IT, and R&D. Furthermore, the report analyzes the application of the marketing mix (7Ps) in Top Shop and compares it with Marks and Spencer, demonstrating how different organizations use these elements in their marketing planning processes to achieve business goals. The report includes a basic marketing plan for Top Shop, offering a detailed and coherent strategic plan to achieve overall marketing objectives, and concludes with a summary of the key findings and recommendations.

Marketing Essentials

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1. Important roles and responsibilities of marketing function...................................................1
P2. Relation of roles and responsibilities of marketing in wider organisational context............2
M1. Roles and responsibilities of marketing function in marketing environment......................2
M2. Importance of interrelationship between marketing and other functional units..................3
D1. Critical analysis of key elements of marketing function and their relation with other
departments..................................................................................................................................3
LO 2.................................................................................................................................................4
P3. Comparing the application of marketing mix to marketing planning process in different
organisations................................................................................................................................4
M3. Demonstrating the way business goals can be attained through applying different tactics. 7
LO 3.................................................................................................................................................7
P4. A basic marketing plan for organisation...............................................................................7
M4. A detailed, coherent marketing plan for organisation..........................................................8
D2. Strategic marketing plan to achieve overall marketing objectives.......................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing plays the most important role in success of any organisation in today’s era as
consumer’s tastes and preferences are changing at a high pace for the satisfaction of which
company performs different marketing activities (Pooler, 2018). Present report is based on the
case given on Top Shop which is a British multinational fashion retailer that is mainly dealing in
clothing, shoes, make up items and other accessories having its headquartering in London, UK.
With reference to same, there will be discussion on role of marketing and its relation with other
functional units. Also, ways in which different firms use elements of marketing mix (7Ps) to
attain set goals will be compared. Further, a basic marketing plan for Top Shop will be
evaluated.
LO 1
P1. Important roles and responsibilities of marketing function
Marketing department of Top Shop has major roles and responsibilities to play to
maintain a strong and competitive position in market. Some of them are like:
 Listening to customer needs – The most important role of marketing function in Top
Shop is to listen to the needs of customers so that products can be developed accordingly.
For the purpose of establishing a marketing strategy, being closer with clients and taking
their feedback to get aware with their needs is a vital task of this department.
 Bringing innovation – Another important role played by marketing function of Top Shop
is to bring innovation in products offered and keep on developing them on continuous
basis so that customers can be retained in the long run (Grimmer, 2018).
 Tracking trends and monitoring competition – To track the current and upcoming trends
in market along with knowing the position of company against competition is a crucial
responsibility of marketing department in Top Shop to identify their mistakes and protect
business from losses and getting failure.
 Improving the brand value – One more significant responsibility of marketing function
is improve the brand value of products by using different ways like offering high quality
at reasonable cost or by creating attention catching messages and ideas that will help firm
in communicating with customers in the most effective way (Craig, Mitchell and
Wilkinson, 2018).
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P2. Relation of roles and responsibilities of marketing in wider organisational context
Marketing is interrelated with all other departments of company and without coordination
in between all, to attain the common goal of business successfully is not possible. Roles and
responsibilities of marketing in Top Shop directly relate to the wider organisational context as it
is an important function of business which is connected with all other functional units of firm. It
can be understood as follows:
 Marketing and HR department – Major role of marketing is to conduct market research
first to analyse the needs and wants of customers for which adequate manpower is
required. For the same, marketing unit of Top Shop needs to communicate with HR
(human resource) department in case if they require more members in their team.
 Marketing and finance department – It is the responsibility of marketing function to
plan strategies and make plans for which support of finance department is required as it
will only provide the funds that are required for activities decided to be conducted
(Grewal, 2018). In case if firm is planning to give some offers like discounts or buy 2 get
1 free scheme then it has to consult with finance unit first.
 Marketing and operations department – After assessing the needs of customers,
marketing department of Top Shop communicates the same to operations unit so that
products can be made and delivered accordingly. Profitability of business is the main aim
of marketing department which can be made possible by rise in the productivity for
which operations unit is responsible.
 Marketing and IT department – Likewise, promotion of products in the form of giving
advertisements through digital medium is also an important responsibility of marketing
department for which support of IT (information technology) unit is needed (Kasemsap,
2018).
 Marketing and R&D department – Further, bringing innovation is a vital responsibility
of marketing department of Top Shop which cannot be done without support of research
and development (R&D) unit.
M1. Roles and responsibilities of marketing function in marketing environment
To deal effectually with the marketing environment which is highly dynamic in retail
sector of UK, marketing department of Top Shop have various roles and responsibilities among
which some are stated as below:
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 Dealing with competition – Due to globalisation, competition has intensified, especially
in retail sector of UK. For the same, it is the responsibility of marketing department of
firm to identify the competitor’s strategies as well as their strengths and weaknesses to
fight against the level of competition (Schmidt, 2017).
 Creating customer value and providing satisfaction – To render high customer value
and satisfaction is one of the main roles of marketing department to gain their loyalty in
return that can be done through CRM (customer relationship management).
 Managing integrated marketing communication – It is the responsibility of marketing
department of Top Shop to invest in effective communications in the form of
advertisements, PR (public relation) management, etc. so that customers at large can be
made aware and influenced with firm’s offerings.
M2. Importance of interrelationship between marketing and other functional units
There is direct relation in between marketing and other functional units of organisation.
To have healthy and positive relations in between marketing and other departments is of utmost
importance for the success of Top Shop. Marketing cannot be done with coordination and
support of other units like it has to closely work with operations department to ensure that
customer’s current and future needs will be satisfied with research and development done
(Sugathan and Kozhikode, 2018). Further, operations department can only tell that whether
specifications desired by market customers can be manufactured to the quality and design. Also,
it is the operations department only that tells if timely delivery of generated order can be done.
Likewise, marketing department has to coordinate with finance unit to ensure that adequate
budget is available with firm to meet the needs of marketing activities like promotion and
distribution. Similarly, HR department also has a significant relationship with marketing unit as
it provides staff as per the skills and knowledge required (De Mooij, 2018). Overall, it can be
said that there is high important of interrelationship between marketing and other functional
units.
D1. Critical analysis of key elements of marketing function and their relation with other
departments
The key elements of marketing function are research, strategy, planning and tactics that
have a direct relation with other departments which is stated as below:
3

 Research – Market research is the most important marketing element on which rest of the
activities depend. It can be critically assessed that in case if marketing department of Top
Shop will not conduct effective research, correct information will not be gained by other
units like in operations department and so, efforts may lead to wastage and loss of profits.
 Strategy – Another key element of marketing is the strategy which is made after
collecting all relevant information and judging the possible strengths and weaknesses
(Andrews and Shimp, 2017). However, if marketing strategies are not made properly then
department will not be able to provide valuable guidance to other departments like sales
and IT that will result in missing out the opportunities available in environment.
 Planning – Further, planning is also a key element of marketing function and having a
strong relation with other departments in Top Shop as on the basis of same, activities are
conducted in all units as it involves sales forecast, financial planning, medium of
communication and distribution, etc. On the other hand, it can be critically evaluated that
if planning is not done appropriately which is the base for all other activities, firm may
have to face issues like reduced profits, decrease in customer base, etc. (Garnica and
Viveros, 2017).
 Tactics – Tactics also serve as the key element of marketing which are actually short
term plans with the help of which customers at large are attracted by the firm. These are
directly related with other departments like with use of appropriate marketing tactics,
sales of company increases that results in rise in the productivity and so, capital of
business enhances that can be re-invested in further activities. However, improper use of
same may create losses for the organisation in terms of reduced market share and
customer base (Tuten and Solomon, 2017).
LO 2
P3. Comparing the application of marketing mix to marketing planning process in different
organisations
Company uses marketing mix in its marketing planning process, however, it differs from
business to business. Application of marketing mix in Top Shop and Marks and Spencer (M&S)
is compared as below:
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Figure 1: 7 Ps of Marketing
Marketing Mix Elements Top Shop Marks and Spencer
Product They offer clothing with
reasonable quality but
fashionable.
Products are known for
their high quality, variety
and style.
Price Their prices are not so high and
set as per competitive pricing
strategy.
The range of their prices is
from medium to high and
premium prices for the
segment of high class
customers.
Place Stores of Top Shop are present
in all big cities of UK with
having a personal shopping
team. Also, great online
presence of company is there
and so, it is easily
approachable.
Around 850 stores in UK
are there with having well
established international
presence and so, products
are easily available (Marks
and Spencer's Current 4 P's
of Marketing - The
5
The
Marketing
Mix
Product
Price
Place
PromotionPeople
Process
Physical
Evidence

Marketing Mix, 2013).
Promotion Mainly emailing, advertising
on website and big posters in
stores are used for the
promotion of products.
It is promoting the products
through internet and social
media, fashion magazines,
television, etc.
People They are giving due emphasis
on their employees by
providing healthy and safe
working environment with
flexible working hours and
opportunities to build career
(Marketing Mix – 4Ps of Top
Shop, 2018).
M&S is giving special
attention on employees like
they are providing rewards
other than basic pay to
boost their performance
along with insurance
schemes, pension insurance,
etc.
Process In stores of Top Shop,
customers can easily collect
their stuff and pay bills at the
check-out counter as well as
firm provides convenience to
people to buy products by
having a great online presence.
Their processes are being
conducted in a very
systematic and arranged
order like they have divided
floors for separate sections
for clothing of men, women
and kids as well as for gifts
and flowers.
Physical Environment Company is having well
managed stores with systematic
working. However, its online
presence is preferred more by
customers.
Having well organised and
beautifully maintained
stores in all across the
world serve as firm’s
physical evidence
(Campbell, Martin and
Fabos, 2018).
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M3. Demonstrating the way business goals can be attained through applying different tactics
Marketing involves different tactics which when effectually applied in processes lead to
the attainment of common goals of firm like 7 Ps of marketing. These marketing tactics play a
significant role in maximising the profits and eliminating interferences. Like, if a product of Top
Shop is developed in a way that is actually desired by target customers, this will make it
successful and increases the profit of business. Similarly, if price charged from customers is set
by considering the quality and competition existing in market, this will be acceptable by target
market thus, leading to success (Campbell, Martin and Fabos, 2018). Further, giving due
consideration on the convenience of people is of utmost importance and thus, by having stores at
nearby locations to target customers will prove to be helpful for firm to attract a large customer
base. Along with that, it can be said that if Top Shop will promote its products by using the most
suitable promotional techniques, to grab the attention of customers at large at less cost will
become easy like through online medium.
LO 3
P4. A basic marketing plan for organisation
Setting goals and objectives – Top Shop is going to launch a new product i.e. Herbal Face
Cream for those females who are highly conscious about their skin and beauty.
Situation analysis – Firstly, company will be required to conduct situation analysis with the help
of SWOT and PEST analysis to assess that whether there is feasibility to attain requisite levels of
performance or not.
Marketing strategy – By using penetration pricing, extensive advertising and expanded
distribution, the new product i.e. Herbal Face Cream will be launched by Top Shop with an aim
to increase the profits as well as growth rate of business (Pooler, 2018).
STP (Segmentation, Targeting and Positioning) – Top Shop will select the segment based on
psychographic segmentation. Its target market will be selected through concentrated targeting.
Positioning will be done with the help of advertising through online and social media.
Action plan – Finally, Top Shop will implement the strategy made for launching new product
i.e. Herbal Face Cream.
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Feedback and control – In case if any deviations are found in the present outcomes against the
set benchmarks, corrective measures will be taken by the marketing manager of Top Shop.
M4. A detailed, coherent marketing plan for organisation
Executive Summary – Top Shop is one of the leading brands in retail industry of UK that is
offering range of products to customers. However, for the segment that is highly conscious about
their skin, company has decided to launch Herbal Face Cream in London that has no side effects.
Situation Analysis – It will done with the help of SWOT analysis.
 Strengths – Having high customer base and increased profits are the major strengths of
company.
 Weaknesses – Intense rivalry in the market of UK as well as availability of more
advanced techniques with competitors are the main weaknesses.
 Opportunities – To enter in new segment and increasing scope in international markets
can be the most fruitful opportunities (Grimmer, 2018).
 Threats – Major threat is from the entry of many new firms and copy of technology from
existing rivalry organisations. Also, switching of customers to other competitor firms is
also one of the major threats of Top Shop.
Market Research – Then, marketing manager will analyse that whether the product which is
going to be offered by the firm will be accepted by customers or not along with the risks
associated with same.
Marketing Objectives – Major objective behind launch of new product i.e. Herbal Face Cream
is to grab a new segment and increase scope of business with earning higher profits and market
share.
Marketing Strategies – Top Shop will have to make new marketing strategies for the new
offering related to marketing mix which is given as below:
 Product – Product will be made with using all herbal ingredients that are of high quality
with adding no chemicals that can have side effects (Craig, Mitchell and Wilkinson,
2018).
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 Price – The price will be charged as per using penetration pricing strategy in which at
first, company will be charging a low and reasonable cost from customers for the new
offering.
 Place – The product will be made available to every nearby store of Top Shop from the
target customers by using expended distribution strategy.
 Promotion – Further, in order to position product in the minds of customers, company
will use extensive advertising where it will use digital media the most for promoting new
offering.
Strategy Implementation – After deciding all strategies, finally the plan will be executed and
product will be launched in market. At first, test marketing will be done where sample on a small
population is tested and if it will get successful, the product will be launched on the entire market
segment.
Feedback and Control – Later, feedback from customers will be taken and in case if they will
be found dissatisfied, necessary modifications will be made in the product (Grewal, 2018).
D2. Strategic marketing plan to achieve overall marketing objectives
Setting goals and objectives – Firstly, the main objective and goal of business is decided which
is to launch new product i.e. Herbal Face Cream for the segment which is conscious about their
health and skin.
Situation Analysis – Company will perform situation analysis first in the market where it has
decided to launch the new product i.e. in London city of UK. It will be done with the help of
PEST analysis which is given as below:
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Figure 2: PEST Analysis
 Political factors – Political environment of UK is stable presently and so, if company will
launch its new product here, chances of getting successful are high.
 Economic factors – After Brexit, economy of UK fluctuated but right now, it is sound
and stable and thus, launching product there will prove to be advantageous for business to
earn high profits and revenues.
 Social factors – By taking care of the health of target customers, the new product will be
made and so, it can be said that Top Shop is concerned about society’s interest and
welfare.
 Technological factors – With using highly advanced and latest techniques, company will
be making the product so that at lower cost, higher profits can be earned (Kasemsap,
2018).
Deciding mission – The mission of Top Shop behind launching this product is to grab and
satisfy those customers, especially females, who are conscious about their skin as well as health.
SMART Objectives – These stand for specific, measurable, achievable, realistic and timely
goals.
 To increase market share in the UK market by 20% by the month of June.
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PEST
Analysis
Political
Factors
Economic
Factors
Social Factors
Technological
Factors

 To enhance profits by 30% by the end of year 2019.
 To increase the customer base by 15% till 2019.
Marketing Mix – These are the strategies made by organisation related to marketing.
 Product – The product will be superior quality that will be made with using all herbal
ingredients.
 Price – Reasonable price at first will be charged from customers for the new offering by
using penetration pricing method.
 Place – At every nearby store to target customers, the product will be made available
through using expended distribution strategy.
 Promotion – Extensive advertising will be used to promote the new product through
digital media i.e. online medium which includes company and social networking
websites.
 People – Firm will have to hire a new sales team for this new project with required skills
and capabilities (Schmidt, 2017).
 Process – Effective processes will be used to manufacture and sell the product in market
with using highly advanced techniques.
 Physical evidence – Employees and customers will be provided with healthy and safe
environment in well organised and beautifully managed stores.
Budgeting – Before implementing the strategy, budget is to be decided so that estimation
regarding expenses can be made. The budget for new product launch is given as below:
Variables Marketing Expenses (£)
Public Relations
 PR Form
 Press Release Development
 Review Program
Total
£45
£45
£90
£170
Web Marketing
 Microsoft Program
 Yahoo Program
 Google Program
£50
£35
£35
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Total £120
Advertising
 Social Media Advertising
 TV Advertising
 Creative Development
Total
£45
£35
£50
£130
Strategy Implementation – Finally, after deciding all strategies, assessing the environment in
which company is going launch the new product and deciding budget for same, the plan will be
executed and product will be launched in the target market.
Feedback and Control – At last, feedback of customers will be taken regarding their
satisfaction and in case if it is found that they are dissatisfied then corrective measures in terms
of making necessary modification will be taken (Garnica and Viveros, 2017).
CONCLUSION
From the above report, it can be said that being operating in retail sector of UK, Top
Shop is facing high competition from the rivalry firms like Tesco, Marks and Spencer, Asda,
Morrison and Sainsbury. Thus, to deal effectually with existing competition and remain in
market for longer span of time, to focus on marketing activities is of utmost importance. Giving
due emphasis on marketing function will help the organisation to retain and increase its customer
base with gaining their loyalty and trust in return. This will result in enhancing the market share
as well as goodwill of business with gaining a competitive edge over others.
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REFERENCES
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Online
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<https://kathrynpomfret.wordpress.com/2014/01/05/marketing-mix-4ps/>.
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Marks and Spencer's Current 4 P's of Marketing - The Marketing Mix. 2013. [Online]. Available
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