Analysis of Wilkinson's Marketing Strategies and Business Objectives

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This report provides a comprehensive analysis of the marketing strategies employed by Wilkinson, an organization in England. It begins by outlining the roles and responsibilities of the marketing function, emphasizing its importance in defining the brand, understanding customer needs, and managing campaigns. The report delves into specific aspects such as managing social media, improving sales processes, managing marketing budgets, conducting market research, and developing strategic marketing plans. It then examines the marketing mix of Wilkinson, comparing it to that of other companies and evaluating tactics to achieve business objectives. The report also includes a proposed marketing plan for Wilkinson and concludes with a discussion of strategic marketing planning to achieve marketing goals. The report highlights the significance of these functions in achieving financial stability and fostering innovation within the organization. Overall, the report provides a detailed overview of Wilkinson's marketing approach and its impact on the business.
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Business Marketing
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
P1 Roles and responsibilities of the marketing function........................................................1
M1 Analyse the roles and responsibilities of marketing .......................................................5
P2 Roles and responsibilities of marketing in relation to organisation context.....................5
M2 Analyse the significance of interrelationships between marketing and another function8
D1 Key elements of the marketing function and ways of interrelate with other functional units
of an organisation...................................................................................................................8
P3 Marketing mix of the Wilkinson and difference between another company and
Wilkinson's marketing mix.....................................................................................................8
M3 Evaluation different tactics of the Wilkinson and way to business objectives can be
achieved................................................................................................................................11
P4 Marketing plan for Wilkinson.........................................................................................12
M4 Coherent evidence based marketing plan for the Wilkinson.........................................13
D2 Strategic marketing plan from which achieve marketing objectives..............................13
Conclusion.....................................................................................................................................13
REFERENCES..............................................................................................................................14
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INTRODUCTION
The management process through which products and services move from concept to the
customers. Business marketing is a process of interesting potential customers in organisation's
goods and services. Its researching, promoting, selling and supplying company's goods and
services. This present report is based on Wilkinson organisation which is located in England.
They debut his single Moon walker or Samurai through RAM records. They released the single
Automatic or hand up music. It was very attractive music for the people who can dance in one
place. In this present report different roles and responsibilities and their outcomes are discussed.
Along with process of marketing mix to the marketing planning and achieving business
objectives are discussed.
P1 Roles and responsibilities of the marketing function
The marketing department plays an important role in explore the business and mission of
an organisation. It serve and represent as the face of the organisation. A company without
marketing department can not explore their business in the market. All companies are being alert
that they essential to get their content to the customer through the marketing function. The goal
of the promotion of the marketing mix is to grow the business and increase market share
(Armstrong G. Kotler and Brennan R. 2015. ). In order to encourage customers to but their
products, they follow the marketing roles and responsibilities. That entire roles and
responsibilities are a best thing in marketing function. It plays a vital role in a business, because
people will know about company's product and services through only marketing function or
department. Its a heart of a business and their roles and responsibilities are carry their business in
well condition. If Wilkinson will not use marketing function, then they can not able to get the
revenues and profit from the business and even can not able to attract the customers against their
product and services. So there are lot of key role and responsibilities which require by company
and that are mentioned below :
Managing and defining the brand -
The first and main role of Wilkinson is a defining and managing their brand and
they should clear that what they stand for, who they are, what they are saying about yourself,
what your work and how company will acts. These entire things should be clear in beginning of
the business and its all defines with your customers ad partners to have when they communicate
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with the company. Brand defining is the very important part of a business, because if any
organisation will not define their brand then how will people know the company in brief.
Further, company should manage properly the entire things which they defines in brief (Chaston
I. 2014).
Listening and understanding to customers requirements -
In order to establish a marketing strategies, it's a necessary to listen to the
customers and understand their needs, then fulfil their requirement in professional way. When
company listen and understand their customers then company should take one more action for
their feedback. Because feedback is key of bests services (Yang Z. and Su C. 2014). Through
feedback company can change their services and products. Company has two channels for
receiving the feedback. first one is internal channels and second one is outside channels. In the
internal channels, company know about their sales team and get the information of the sale team
and customers support, then they make marketing strategies for the future. In outside channels,
company check the perfonce of their products and services in the market, then understand the
better needs of the users, in order to convert them into customers.
Conducting campaign management for marketing initiatives -
When company want to explore their business in different places then they should
start the campaign for the identifies the products and services to focus on sales cycle. This
management is very important in the marketing roles and responsibilities, because its promote
company's products and services in the entire market. Further, company's selling performance
will be good and they will able in exploring their goods and services in the all market, which
require by customers (Young L. and Smith, A. 2015). Campaign shows company's product and
their services in brief and its attract to customers for purchasing their goods. So it is very useful
role and responsibility for the exploring your business and make it your business worldwide.
Managing and monitoring social media -
This role is in trend, because almost people are on social media. They use
Facebook, Instagram, Snap chat and many more different social sites. The best way of marketing
on internet is social media. Marketing should contribute to, manage and maintain your social
media pages ad accounts and carefully watch what's being posted about you online. Many
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organisations make a page and account in social media then they explore their business on
internet and it is very valuable marketing role in any of the company. This is the vital role of the
organisation, because if your product will explore on social media then its increase day by day in
selling. Further, your business will grow fastest and company will able to get the revenues and
profit in large number (Woodside A. G. 2013). Customers also attract to the products and
company will get the numbers of customers in the future through marketing on social media.
This role shows the customers about products and their services in brief and attract to clients for
buy their goods. It a way of get the entire customer's loyalty and faith.
Help Improve sales processes and customer -
As mentioned above, It is the responsibility of the marketing department to know
the users and especially the clients value. In this role company should know about customer's
need and their satisfaction level, because it is the main part of business marketing. When
company improve their sales process then lot of customers attract to the company's product and
service and they buy the goods of organisations (Vieira and Ennew C. 2014). Sales improve
possible by customer's feedback, provide product and services and customer satisfaction. If any
company want to increase customer number and sale then they should make a plan for sales
precesses and customers for provide better services and products to their customers. A good way
for best knowing the customer is that all department that have more direct contact with the
customer shall be working with the empathy maps.
Manage marketing budgets -
The marketing department should be able to plan their marketing budget for the
next year's activities, and strategies it in order to make the most of it. Marketing budget should
be according to marketing campaign, social media marketing, advertisements etc. This is the
main role of marketing, because budget is the necessary in every business. Through budget
company will able to do their marketing and explore their products and services in the market
with marketing roles and responsibilities.
Conducting customer and market research -
Research help company to define their goals, target and opportunities
accordingly. Its also help in understand how company's services and goods are perceived. This is
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the very valuable responsibility in the marketing function, because when company want to
explore their business ion the market, them they need to know the entire market, they require to
know about market research and what product can be sale and how they explore their products
and services in the market (Charter M. ed. 2017). Its all information and research is plays very
vital role in the marketing function and business. When company complete the research of these
entire thing, further, they will be able to get their target and goals which they want before.
Marketing is main part of business for explore their business in different areas, but main thing of
marketing is best way of marketing and its possible through market research. It is the way to
know of people's need or requirement and their satisfaction level. All information conducted by
the marketing team, then they execute their plan according to strategy and they will able to get
the goals and target.
Strategic marketing plans -
In order to achieve the target and goals of the company, they start the make a plans and
strategies for increase their sales and services in the market. When company plays this kind of
role, then they should know about market, and their need. They should get the information about
entire market and their people who use their products and services. When company make a plan
and strategies for explore their business and increase the sale, lot of issues faced by the
organisation , but steal they try and play the role in professional way. Strategies and plan will
very beneficial for the company, It help them in issue of future. It reduces to future problems
which come to the business. The marketing department should be able to plan its budget for their
business activities and exploring their products and services in the market.
Communicate with the rest of the company -
A company is a chain of members pursuing common goals to fulfil its mission
and increase their profits, while respecting the principles of business ethics. In the organisation
lot of employees or members are working together, but they are the main people who help in the
marketing. They are the people who can explore company's products and services in the market.
They are provide their best at their workplace. They are doing different types of work in the
organisations. Its a main part of marketing that company should communicate with their
employees and members who are working in the company. Communication level should be very
decent with their employees, so they will able to provide company's bests services to their
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customers. These entire role and responsibilities are play the very important role in the
Wilkinson company and it is the valuable for the organisation.
M1 Analyse the roles and responsibilities of marketing
When company's marketing team play their roles, they face different types of problems,
but they solve that through their skills in professional way. Their roles and responsibilities are
making very good environment in the business. They are working according to their atrget and
goals and they achieve the same (Hair Jr J. F. and Lukas B. 2014).
P2 Roles and responsibilities of marketing in relation to organisation context
There are different roles and responsibilities of the marketing function, and through these
entire roles company can get the different benefits. In order to achieve the goals of the
organisation they allotted target to their marketing team, which work in the market, interact with
the customers and convince them for buy their product and services (Varey and Pirson M. eds.
2013). There are different different impacts of benefits to wider organisation from marketing role
and responsibilities which are mentioned below:
Financial stability - Businesses struggling to maintain financial stability are often under
pressure to keep costs down, which can directly impact the quality of work coming from
organisation. Through marketing functions financial stability can be good and it will be
stable for a long time. Other than that, one more benefit from marketing function is
company's cost can be down and its profitable for the company in wider organisation.
Innovation - These are the types of the companies that move products, services and the
people associated with them, forward. Marketing function's roles and responsibilities are
very valuable that make company and their employee very innovative. Innovation is the
most important thing in the Wilkinson, because it is the reason of employee's creativity
and their vision to achieve the target and goals. Its come in the employees, departments
and organisation culture, then it help company and em[employee in wider organisation.
Innovation can be in products, services and the people. If it is in the products and services
then quality will be better then before and customer's satisfaction will be increase as they
required. When customer's will be satisfy with the product and services then Wilkinson
will automatically grow and will be able to achieve their goals and target.
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Corporate culture - Strong corporate cultures that facilitate adaption to a changing world
are associated with strong financial results. Corporate culture is the main thing which
maintained by the organisations. it will be valuable for the company, because if culture
will be smooth then their employee can easily work at their workplace and they can give
their best. Through corporate culture we found that those cultures highly value
employees, customers, and owners and that those cultures encourage leadership from
everyone in the company. Marketing function can change the corporate culture in the
very smooth way and employees, customers, people who are working in the organisation
will be satisfy with the Wilkinson (Council C. C. 2014).
Tolerance of risk - Business can handle limited risk, but when marketing team plays their
role, company will be able to handle a wider risk for make wider organisation. Growth
demand some tolerance for risk, especially in term of new business and marketing tech
adoption that demands we learn to fail fast to succeed faster. In order to achieve the goals
of the company they allotted their target to their marketing team and that team will
tolerate pressure and risk of customers, target and their commitment. Further, they will be
able in achieve the target which allotted to them and it is the main benefit to wider
organization.
Competitive advantage - Marketing department handle risk and tolerate some pressure of
the company, but there are different benefits which they achieve. Further, this department
or function is work according to competitive market. They get the entire information and
knowledge about who the competitors are, what they do in the market, how they can
defeat them etc. After getting these information and knowledge, they make a plan and
then they execute their plan according to strategy. Further, they will be able in defeat to
the competitors which create problems for the Wilkinson.
Product or service quality - When marketing functions handle their roles and
responsibilities, first they make a strategy and then follow accordingly. They meet the
customers, sale their products and services and most important work they are doing is,
they receive the feedback from their customers about the products and services. Feedback
is help company to make more quality product and services, so customer's satisfaction
will not affected. Product or service quality is most important factor to wider
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organization. The reason of if company work with quality product then customers will
attract more and they will want to buy our product and use our services. Through this
entire things company will get the target and achieve the goals in the future (Holliman G.
and Rowley J. 2014).
Customer service - Marketing team work according customer need and their satisfaction.
Customer service is the valuable factor of the organisation. Company do lot of activities
for their customer's satisfaction. They don't want to lose their customers. Marketing team
sale their product to the customers and get the feedback, but some time customers are not
happy with the services and products then marketing team assure them that it will not
happen again and promise them that they will provide them better products and services
in next time.
Vision - Organization's vision is based on marketing functions. If they are giving not best
at their workplace then company will not be able in increasing their profit. Marketing
function clear the vision for the future and work according to that vision , so company
can get their goals easily and can generate the more revenues in the future. Vision is the
most important part of the company and marketing function, because if vision will not be
clear then company will not be able tom achieve their goals and target, which they
required. So vision should be clear and perfect in the organisation for achieve their
targets and goals.
Internal and external communication - When marketing function plays their roles and
responsibilities for achieve the goals of the Wilkinson, they use their skills in internally
and external. They have lot of skills but communication is the most important skills in it.
Through communication skill they can able in interaction with anyone, they motivate
their team thorough communications skills. So marketing function's skills are beneficial
for the company to make a wider organizations (Krush M. T. and Saini A. 2015).
Pricing strategies - When Marketing team work in the organization, they make a strategy
for product's price. They know the competitor's prices and then they fix the prices
according customer's need and their budget. It is the very critical factor in very company,
because prices changes day by day or in some time. So company should fix the best price
for their customers. If prices will not be according to market then customer will not
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believe in the product and company, so its make sure that company's product price should
be according to market product.
M2 Analyse the significance of interrelationships between marketing and another function
When company allotted their target to their marketing team, they will work
according the target and goals. So company can easily achieve the target and goals from
marketing team. Other functions in the organisation are operational and different units, which
work with together, help to each other and achieve the operational target of the organisation.
Marketing and other functional units plays the vital role in the organisation. They are reason
behind company's achieved target and goals. They are execute their work and give their best for
the organisation and it help company in increasing profit and revenues.
D1 Key elements of the marketing function and ways of interrelate with other functional units of
an organisation
Marketing mix is the key elements of the organisation and that is interrelate with entire
functional units of Wilkinson. When company start the produces then they need the workers who
produce the product in good quality then company need the employee for packaging and then
they require the employees who can manage the entire operational work. So they all are the
interrelate in the organisation and they are work together with help to one another in the
organisation. Marketing function and other unit of the company play the important role in the
organisation (Strauss J. 2016).
P3 Marketing mix of the Wilkinson and difference between another company and Wilkinson's
marketing mix
Marketing mix is about putting the right product or a combination thereof in the
place, at the right time, and at the right place. In the competitive market, to grow, a business
need to provide consumers what they want, at a price they are satisfied with, when they want it
and make a profit for the organisation. Wilkinson Found that their main factor of marketing and
growth can be in student sector. Through this not only covered the particular needs of its target
group[, but also linked closely with the company's total goals, and objectives. The key elements
that require to be in place for business planning are: Aims, It is explain the total goals of a
business, Objectives, This is the step which managers decide requirement to be taken for achieve
the total aims (Terho H. and Böhm E. 2017). Planning and strategy is master plan which focus on
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internal and external target. Main and important part of the Wilkinson are aims, objectives,
strategy and tactics. These all actors plays the valuable role in the Wilkinson organisation. It is
the music company and there are lot of competitor in the market, but Wilkinson is the best music
company in the industry (Kiel I. H. 2014). It gives fun and soul to their users. When people listen
their music, they lost in themselves, because of different types of music. Strategies may be to
combat competition, to improve the position of the Wilkinson in the industry or market to grow
the business. Marketing plans may focus on the development of the goods and services. Doing
more of what a business already does carries least risk developing a completely new product for
a new people carries the most risk both in term of time and costs. Wilkinson's marketing
strategies are as good as their music which listed by the audience. There are some marketing mix
which used by Wilkinson organization as mentioned below:
Marketing mix - Product - A product is an item that is produce according to customer's
need and their satisfaction. They product should be in high quality and goods can be
intangible or tangible as it can be it the form if services or products. When Wilkinson
launch their product in the market then they should know that what does the customers
want from their goods and services, Product's looks, How will customers use the product
and services, where will they use it, what features in product fulfil the costume's need,
what feature missed by company in the specific product, any features are creating by
company which not needed by the customers. Other than that, company know that what
will the name of product, is it attractive name or not, which size and colours available,
how it is different product from the products of another companies etc. These entire
knowledge is very necessary in the Wilkinson.
Marketing mix - Price - The price of the product should normally the amout that
customers pays for to enjoy it and it is affordable by the clients. Price is very important
factor of the business and their marketing mix definition. Pricing always help shape the
perception of the product in customers eyes. Always remember that a low price will
attract to the customers and they attract to buy company's product in quantity. When
Wilkinson set the product price, they should consider the perceived value that the goods
offers, There are some important question that company should know when they are
setting their goods prices: Wilkinson should know that how much did it cost to produce
the product, what perception make about product in customer's eyes, how much price will
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be better for the customers, how much price will customer afford, what prices are
competitors, can the present price of the goods keep up with the price of the product's
competitors. These entire question should be clear, when Wilkinson set their product's
prices, so in future company will not face the problem of prices. It will help company in
increasing their brand value and customer's faith.
Marketing mix - Place - supply or placement is the most valuable part of the product
mix definition. Company has to position and distribute the goods in a place that is
number or population and potential buyers. This comes with deep understanding of the
company's goals and target. When company can able in understanding the value of place
then they will discover the most efficient positioning and distribution channels that
directly speak with your market. There are some information that should know the
company in developing their distribution planning : Wilkinson should know that where
do their customers look for their products and services, which type of store will very
potential for the customer's visit, is it in mall, supermarket or online, which way to access
the different distribution channels, how is company's distribution planning is different
from their competitors in the market, need of sales team which explore their business in
the entire market, online selling or store which can be profitable for the company, It will
be increasing in sale and profit of the business.
Marketing mix - Promotion - Promotion is the most important component of the
marketing as it can boost recognition and sales. Promotion is the valuable factor of
marketing which promote the entire product in the market. Through promotion company
can sale their product in the market. Word of mouth is also a type of product promotion.
It is the informal communication about the profit of the goods by satisfied clients. The
sales team plays a vital role in public relation and word of mouth. They make a relatio
with customers and they get the faith and loyalty of the customers, then they sale their
product to their customers. When Wilkinson create their product promotion strategy, they
should know the following information : Its are How can they send marketing message to
their potential buyers, best time to promote their goods and services in the market, will
company reach their potential audience and buyers through advertisements, is it good to
use social media in promoting the product, strategies of their competitors. This entire
knowledge is help company in increasing their brand value and product value. People
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