Strategic Marketing Plan: An Evaluation of Vodafone UK Marketing Mix

Verified

Added on  2023/01/18

|11
|3126
|52
Report
AI Summary
This report provides a comprehensive analysis of Vodafone UK's marketing essentials, focusing on the application of the marketing mix (7Ps) and the evaluation of a basic marketing plan. It begins by comparing Vodafone UK's marketing mix with that of BT Group, highlighting differences in product offerings, pricing strategies, distribution channels, promotional activities, processes, physical evidence, and people strategies. The report then delves into the specific tactics employed by Vodafone to maintain its competitive edge, emphasizing its focus on product differentiation, pricing, and promotional activities. Furthermore, the report assesses Vodafone's marketing plan for launching a new IoT managed connectivity platform, including an executive summary, mission and vision statements, objectives, and a detailed breakdown of the marketing mix elements. The analysis also incorporates STP (Segmentation, Targeting, and Positioning) strategies and a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. Finally, the report discusses fund flow statements and potential sources of funding for the new service launch.
Document Page
MARKETING
ESSENTIAL
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Table of Contents
INTRODUCTION...........................................................................................................................1
Task 2...............................................................................................................................................1
P3 Comparison of different organisation for marketing mix ......................................................1
M3 Application of different tactics by organisation....................................................................3
Task 3...............................................................................................................................................3
P4 Produce and evaluate a basic marketing plan.........................................................................3
M4 Evidenced based marketing plan...........................................................................................7
D2 Strategic marketing plan .......................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCE...................................................................................................................................9
Document Page
INTRODUCTION
The collection of numerous factors such as product, price, place, promotion, physical;
evidence, process and people is consider as marketing essential. To gain high profits and
development of their business focus on such factors is important that helps to attain the
organisational objectives (Miah, 2018). Execution of this report based on Vodafone UK
organisation that uses marketing mix to run its business independently. Such report covers
marketing mix 7P's and evaluation of basic marketing plan which helps to introduce something
new and also increase profitability.
Task 2
P3 Comparison of different organisation for marketing mix
Marketing mix is consider as most famous marketing term that uses by business
organisation to run their business and make profits. This involves 7 P's of marketing which helps
to control the business activities by using appropriate strategies. Marketing mix is the set of
controllable marketing tools and tactical strategies which can be used to compare with others and
make business decisions accordingly (Liu and et. al., 2019). The main motive to use this, putting
the right products at right place and right price. Vodafone is a telecommunication sector which
provides different services to its customers by comparing with other telecommunication sector.
This helps to increase the productivity of customers by increasing the number of customers. The
comparison between Vodafone UK and BT group are as defined:
Basis Vodafone UK BT group
Product Product with different features are
provided by Vodafone such as chat to
play games, sms, send and receive
pictures etc. it has categories its services
in warranties, delivery and credit, after
sales service and helpline services etc.
The diversification of products
consider mobile telephone, Land
line telephone, digital television,
IT services and fibre optics that
attracts people and increase
business performance (Marketing
mix of BT group, 2019).
Price Management has set a competitive
pricing strategy that helps to get high
This is one of the leading
organisation that provides
Document Page
profits. It uses high pricing strategies as
it provides more features and better
quality of products (Marketing mix of
Vodafone, 2019.).
products and services by adopting
economic pricing strategy
according to customers which
attracts customers.
Place It sells its products by using two
marketing channels first is sell it
directly and next is sells through online
websites which is used by customers to
place the order and increase number of
customers.
Distribution channel in context to
BT group are consider in London,
where it provides
telecommunication products and
services. It serves more than 180
countries its services.
Promotion Different types of promotional activities
are used by Vodafone such as
advertisement, radio, banner and
hoardings that attracts people to try such
product. Moreover, social media and
online websites also uses by such
organisation which increases
organisational sales.
To promotes its products and
services management of such
organisation uses television,
billboards, internet and radio that
attracts people and increase the
organisational productivity.
Moreover, discounts and offers are
used to retain the customers for
long period is used by such firm.
Process Management of such organisation
ensures that its products are available at
retail store and Vodafone store from
where customer can get products. In
addition to this, online delivery process
is applying by such company that helps
to attain the business goals.
Easy set up process is used by
organisation which helps
customers to access easily in order
to buy products (Haider and et. al.,
2019).
Physical evidence Online websites consider as user
friendly which increases business
activities. Sale of products in distinct
colour packaging and attractive
BT Group has operation in above
than 80 countries. Good structure,
financial report and customers
service are involved in physical
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
services. evidence.
People It is working under sales team that is
major part of organisation attracts
customers to buy such products
effectively (Singh, 2018.
Marketing team, sales team,
production, IT team, HRM and
employees are consider as people
strategy who uses new technology
and increase business sale.
M3 Application of different tactics by organisation
Tactics are strategies which are using by business organisation to run their business after
comparing with others. Vodafone is leading telecommunication sector that is running its business
by using different strategies and regulations which helps to maintain the profits. It focuses on
product, price, promotion, physical evidence, place, process and people which helps to maintain
the organisational productivity and profitability (Hirayama, 2019). Tactics and rules of business
organisation helps to attain the business goals. It divides its products and services in to different
category which attracts customers and increase organisational performance. To improve the
business activities and production tactics are applied by Vodafone in which it compare its
product, price, promotion, process etc. with BT group that is also telecommunication company
and provide services according to customers. The management of respective company provide
mobile services at high prices due to having different features and facility which sets people
mind to buy products (Djurakulovich, 2019).
Task 3
P4 Produce and evaluate a basic marketing plan
To evaluate the organisational performance and product development planning is
important that helps to take further actions. This plan should be prepared by management or
capable person who have knowledge about market and product. Marketing plan is a written plan
which is set by a person by analysing all information and resources in order to increase
production (Price, Wrigley and Straker, 2015). This helps to accomplish the organisational goals
by using attractive plan. To prepare marketing plan there is need to have specialised knowledge
and skills which helps to accomplish business goals. In context to Vodafone marketing plan is
prepare by marketing managers. Vodafone is planning to launch new service that is loT managed
Document Page
connectivity platform which will help to provide better internet, cost reduction and life cycle
management, end to end transaction with private APN services etc. A marketing plan is prepared
by managers that is defined as:
Executive summary -
Vodafone is a British multinational telecommunication company whose headquarter in
London and Newbury. It operates it communication and other services in other regions and it has
partnership in 47 further companies that helps to increase the organisational profits. It has
different location where it provide range of services in order to attain the high range of profits.
This is world's second largest company which offers better quality of products and services.
Vision – The vision statement of Vodafone is “To be the communication leader in an
increasingly connected world”
Mission – The mission statement of Vodafone is “To enrich our customer's lives through
unique power of mobile communication”
Objectives –
The primary objective of Vodafone is to maximize the profits by increasing
number of customers.
To offers and provide innovative and superior telecommunication services as
compare to others.
To capture market share 35% by 2021.
To become world's largest company in telecommunication sector.
Marketing mix
Product – New services are provided by Vodafone UK by using new technology and
strategies which make pleasure to customers. New services that is oT managed connectivity
platform which will help to provide better internet, cost reduction and life cycle management,
end to end transaction with private APN services etc.
Price – The cost of its services will on appropriate and effective. A management has
decided to use economic pricing strategy that will help to save the cost of customers and increase
number of customers to buy such product.
Place – Management has planning to introduced its services at all location where its
stores are already established. At such location managers are providing better quality of services
which will be beneficial for organisation as well as customers.
Document Page
Promotional – Promotional activities are those activities which are used to promote the
products and services of a business organisation and increases the business sale. Advertisement,
social media, celebrity adds, discount offers etc. strategies are applying by business organisation
that helps to incre4ase the number of customers towards new product and services and increase
business productivity (Hunt, 2018).
Physical evidence – This means those products and services which can see and
experience by customers and helps to make further decisions accordingly. In context to
Vodafone physical evidence is store premises, logo, loT services which is going to launch by
company. This helps to increase the organisational productivity and profitability. The structure of
Vodafone structure is visible and identifiable by its quality of products and services which
attracts customers and increase productivity.
Process – Online website and delivery process is decided by management of Vodafone
which is appropriate and relevant process will increase number of sale of products and services.
People – Vodafone have skilled marketing team which provides information to people
and emphasis to purchase it. Moreover, production team, IT team, technical department, services
department, helpline, sale team etc.
STP
Segmentation – This is the process of splitting the entire market in to different and
smaller groups in order to attain the organisational goals. In this different groups of customers
are identified who make purchase decision. In context to Vodafone, products and services are
launched for both genders, all income level, all ages and area covered which increases number of
customers and increase productivity.
Targeting – Vodafone is seeking to capture market and good position in business market
by providing equally better and more advanced services to customers. It targets all ages
customers and area where customers are ready to buy the products.
Positioning – By operating business in excellent manner and introducing new product
organisation can maintain a high position in telecommunication sector by attracting number of
customers. By offering such products and services it create a upper position in business market.
SWOT analysis – The SWOT analysis of Vodafone which is going to launch new services are as
defined:
Strength Weakness
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Vodafone is second largest company in
telecommunication sector.
It has wide distribution and network
area from where people buys mobile
phone and services.
It is generating high revenues by selling
its products and services.
Attractive marketing strategies and
wide range of customers relations.
Good brand value and valuation which
creates good advantages.
Having competition with other
telecommunication sector such as
China mobile, Verizon, Wireless and
AT&T.
Using high pricing strategy.
Service are not available in rural area.
Opportunities Threats
High presence on customer's demand
and choice.
Uses of new technology and
innovation.
Dependency on cellular network which
helps to attain the organisational goals.
Improving the network coverage which
helps in operations.
Low margin and high cost of products.
Lack of investors and shareholders
variation in economy of different
nations.
Fund Flow statement – To launch new product and services there is need to financial
resources which helps to run operations effectively. Organisation should prepare fund flow
statement by considering cost of all activities which helps to maintain high profits. In context to
Vodafone managers has prepared a cash flow statement that are as defined:
Particulars (£) Amount
Operational activities £6000
Investment activities £8000
Financial activities £10000
Document Page
Total £24000
This fundflow statement states that to launch new loT services and increasing sale
organisation needs £24000 by covering operational, investment and financial activities. This will
helps to maintain the profits as organisational wants.
Sources of Fund – This means to launch new services and products Vodafone need to
arrange the financial services which can help to introduce new products and services effectively.
The manager of Vodafone has analysed various fund sources that are as explained:
Venture capital – This is a mechanism where entrepreneurial talent is supported by
investors through providing finance and business skills in order to obtain long term goals and
capital gain. This provides opportunity for expanding the business and increasing venture capital
effectively.
Loans – This sources is also used to arrange the capital and funds by taking loans from
bank and other institution. By using this organisation can arrange capital which helps to make
higher profits. Interest is charged by banks for lending money to businesses.
Angel investor – This is consider as individual and high worth individual investor who
provide funding or financial support to start ups and others in order to increase business activities
and performance. This source helps to meet with capital needs by angel, reinvest the return and
generates number of jobs.
Crowdfunding – this is another option from where organisation and get funds to run its
business. Herein, funds are provided by managers in order to continue and run a business
effectively. The manager of business organisation can take funds from crowdfund which
provides funds.
From the above sources of fund Vodafone is using Crowdfunding which help to arrange
the funds effectively and maintain the profits. By using this organisation can promote its services
and also operate business efficiently.
Monitoring evaluation – All performance and business activities are measured by
managers by monitoring activities. The above plan is evaluated by management, preference of
customers, information system and monitoring requirement which helps to sustain the
organisational objectives effectively.
Document Page
M4 Evidenced based marketing plan
Marketing plan is the business strategy for business organisation which is prepared by
managers for completing task in given time and accomplish business goals. It helps to take the
further step that states what to do, how and when to do for competing task. In business
organisation there are various strategies which are adopted by management in order to make
effective plan and make profitable business decision. In context to Vodafone, managers are
effective strategies and preparing marketing plans to provide information to customers and
promote the products and services. The manager of business organisation focus on all activities
and make efforts to control the business performance.
D2 Strategic marketing plan
Business industries are focusing on their goals by making strategic plans that helps to
reach near by goal. Strategic marketing plans is related with marketing term which is used to
complete the task within specified period. A person who have knowledge about market and
management skills can only prepare effective marketing plans which helps to develop a product
and services effectively. In context to Vodafone, marketing plan is prepared by marketing
managers in order to provide better quality of services. Manager of respective company are using
7p's that is effective tactics and factors which is used to compare with BT group and others in
order to make profits.
CONCLUSION
From the report it has concluded that to run a business marketing is playing major role
which helps to attracts customers. Marketing manager are having different responsibilities which
helps to attain the organisation goals. Marketing mix is used to make effective strategies in order
to accomplish the business goals. Moreover, marketing plan is prepared by managers by using
strategic plans, objectives, STP and marketing mix for developing its products.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
REFERENCE
Books and Journal
Miah, M., 2018. Analysis of Marketing Activities A study on Essential Drugs Company Ltd
(Doctoral dissertation, Daffodil International University).
Liu, Y., and et. al., 2019. A statistical approach to participant selection in location-based social
networks for offline event marketing. Information Sciences. 480. pp.90-108.
Haider, A. A., and et. al., 2019. Marketing Management.
Singh, S. K., 2018. Relationship Marketing In Competitive World an Essential Strategy. GST
Simplified Tax System: Challenges and Remedies. 1(1). pp.390-349.
Hirayama, M., 2019. Human Centric Marketing for Customer-Centric Innovation of Corporate
Marketing Activities. FUJITSU SCIENTIFIC & TECHNICAL JOURNAL. 55(4). pp.9-
16.
Djurakulovich, S. B., 2019. Using innovative marketing strategies in retailers. Asian Journal of
Multidimensional Research (AJMR). 8(7). pp.139-146.
Price, R. A., Wrigley, C. and Straker, K., 2015. Not just what they want, but why they want it:
Traditional market research to deep customer insights. Qualitative Market Research: An
International Journal. 18(2). pp.230-248.
Hunt, S. D., 2018. The prospects for marketing strategy and the marketing discipline in Era V: is
the prognosis promising or problematic?. Journal of Marketing Management. 34(1-2).
pp.86-95.
Online
Marketing mix of BT group. 2019. [Online]. Available through:
<https://www.mbaskool.com/marketing-mix/services/16895-british-telecommunication-
bt.html>
Marketing mix of Vodafone. 2019. [Online]. Available through:
<https://www.essay48.com/term-paper/13626-Vodafone-Marketing-Mix>
Miah, M., 2018. Liu, Y., and et. al., 2019Haider, A.A., and et. al., 2019Singh, S. K.,
2018.Hirayama, M., 2019. Djurakulovich, S. B., 2019. Price, R.A., Wrigley, C. and
Straker, K., 2015.Hunt, S. D., 2018. Marketing mix of BT group. 2019.Marketing mix of
Vodafone. 2019.
chevron_up_icon
1 out of 11
circle_padding
hide_on_mobile
zoom_out_icon