Wilkinson Company: Marketing Essentials Report and Analysis

This report provides a comprehensive analysis of the marketing strategies employed by Wilkinson, a company manufacturing swords and personal care products. It begins by outlining the major roles and responsibilities of the marketing function within Wilkinson, emphasizing aspects such as planning, customer service, satisfaction, promotion, marketing intelligence, communication, and relationship management. The report then delves into how marketing interrelates with other functional units, including product development, forecasting, risk analysis, distribution, and market research, as well as its connections with human resource management, management, and finance. The report also examines the marketing mix elements used by Wilkinson and Cadbury, highlighting the different approaches each company takes to product, price, place, promotion, people, process, and physical evidence. The report concludes with a basic marketing plan for Wilkinson, offering an overview of the company's marketing approach.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Major roles and responsibilities of marketing function of Wilkinson.............................1
P2. Roles and responsibilities of Marketing related to other functional units of Wilkinson..4
TASK 2............................................................................................................................................6
P3. Ways in which two different organisation use their marketing mix elements.................6
TASK 3............................................................................................................................................8
P4. Basic marketing plan for Wilkinson.................................................................................8
CONCLUSION................................................................................................................................8
REFERENCE.................................................................................................................................10

INTRODUCTION
Marketing is that managerial process through which an enterprise can successfully
promote and advertise its different products and services. In the present scenario, it has become
the most important key concept which is responsible for organisational growth and development
(Zarantonello and Schmitt, 2013). There are various merchandising tools and techniques which
can be used by organisation to identify customer’s buying behaviour. This project report is based
on Wilkinson which is the manufacturer of swords and some personal care products. In this
report, different roles and responsibilities of marketing function will be discussed along with
their interrelation with other functional units of company. Also, marketing mix of this
organisation with other competitor firm will be highlighted.
TASK 1
P1. Major roles and responsibilities of marketing function of Wilkinson
Merchandising can be defined as that managerial process which focus on various activities
such as buying, selling, distributing, storing and financing as well as risk management. This is
the only business function which can create good corporate image of company in marketplace.
Marketing involves all those, activities, practices, procedures, strategies, tools and techniques
which creates value for customer. Marketing is a great method for attracting huge number of
customers. It is a huge responsibility of merchandising department to transfer goods and services
from their production place to consumption place. With the help of this organisation can attract
huge customer base. Also, it helps in producing mass production as per the product demand in
market place.
Merchandising department of company conducts various market research so that enterprise
can find out current needs and demands of clients. So it can be said that marketing is a process of
creating value for customer and also helps in building a strong relationship with business clients.
The major function of marketing is to identify new market trends, customer’s purchasing
behaviour and then help company in producing products and services as per those trends as well
as customer’s buying behaviour (Robinson, 2012). There are various phases of marketing which
are as follows:
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Illustration 1: Five concepts of marketing
(Source: Bhasin, 2017)
Product concept: This approach states that consumer like to buy that product which
have various features like high quality, durability and some value. So it is highly important for
manufacturing units to manufacture goods as per customer needs so that he can get satisfied. For
producing quality products, business enterprise should manufacture innovative products,
sometimes they can make changes in their current goods.
Production concept: This approach gives core attention to production process.
According to this concept, for increasing efficiency and effectiveness of manufacturing process
company should manufacture those goods which have high demand in market place and does not
require high operational expenses.
Selling concept: This approach gives importance to products’ price. According to this,
organisation should set product’s price as per their value and customer purchasing behaviour. So,
it can be said that, this concept has showed the value of pricing policy which should be
determined on the basis of product’s cost (Peter and Donnelly, 2011).
Marketing concept: This approach is based on profit maximisation and cost
minimisation. This concept suggest company that it should conduct market research first and
then manufacture final product. This concept also helps company in enhancing its brand image
within market place.
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Societal marketing concept: This aspect assist company in enhancing financial profit
with concerning environmental factors. In simple words, this concept states that company should
maximise their profit but also should focus on social welfare.
Hence, these are the stages from which marketing concept has been improved and in
present time marketers are still searching for those ways in which it can become more improved
ad effective. Wilkinson is one of the most popular company of United Kingdom (Toretsky and
Wright, 2014). It manufactures those goods which helps in fulfilling household requirements like
textiles, cleaning products, pet products and kitchen as well as bathroom goods. This company
sells product of its own brand but now days it has started products of some private labels as well.
In modern world, market competition is increasing very fast, so it is highly important for all
organisation to use those tools, techniques, plans, procedures and strategies which can help them
in surviving in such competitive market place (Ogawa, Saito and Sohmiya, 2014). There are
various roles and responsibilities of marketing department of Wilkinson which helps it in
achieving its desired goals and objectives, these are follows as under:
Planning: The most important role of merchandising manager is to formulate and
implement most successful plan within work place so that company can operate its all business
activities and practices in most effective and systematic manner.
Customer service: Marketing section gives high importance to customers which is
considered as most important factor of organisational growth and success. Without satisfying
customer needs no company can survive in market place for long time period. Marketing
managers of Wilkinson always search for those services and facilities which can help in
providing high customer satisfaction.
Customer satisfaction: The most important function of merchandising department is to
satisfy different needs and demands of customer. Merchandising section of Wilkinson helps it in
producing products and services as per the requirements of clients so that they can be highly
satisfied by company’s services or goods (Mather, Boughton and Jayne, 2013).
Promotion and advertisement: Every business enterprise wants to get popular and also
want to build strong market image in market place. Marketing managers of Wilkinson helps it in
promoting and advertising its different products within market place so that it can attract huge
number of customer.
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Marketing intelligence: This function of marketing section helps company in gathering
and analysing daily information of market so that company can make successful decisions on the
basis of them. Also, it assists Wilkinson in identifying all market opportunities.
Communication: It is highly important for all business enterprise to communicate with
their customer so that it can get their feedback and also can implement them within work place.
Marketing department of company helps in communication with customer. Now days various
communication channel is using by organisation for communicating with their customers and
these are social media channels such as Facebook, twitter etc.
Relationship management: Marketing section also make a chain between company and
customer. Merchandising team always make a connection with customer so that it can easily
communicate with them. So, it can be said that marketing is that medium which creates
relationship between business and its customers (Malhotra, Birks, and Wills, 2013).
Hence, these are some most important roles and responsibilities of marketing department
which provides various benefits to Wilkinson in different ways. Above mentioned points helps
company in accomplishing its all desired gaols and objectives in most effective and systematic
manner.
P2. Roles and responsibilities of Marketing related to other functional units of Wilkinson
Marketing is that managerial concept which helps company in accomplishing it’s all desired
goals and objectives. Merchandising section performs various functions which helps organisation
in leading at high level of success and growth. Also, it makes other organisational activities and
practices easy. There are various marketing functions which assist Wilkinson in different ways,
these are follows as under:
Product development: Marketing section conducts various market research through
which it gets knowledge about current market trends. On the basis of new trends, it makes
necessary changes in existing products and services so that company can attract huge number of
customer and also can satisfy their all needs as well as wants.
Forecasting: Wilkinson is a successful company and its credit goes to its marketing
function because it predicts future demands and supply of products and then informs production
department tat how much products should they produce. In simple words, it helps company in
estimating that company should manufacture goods in bulk or less quantity (Machado, Cant and
Seaborne, 2014).
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Risk analysis: Marketing department conducts various market research so that company
can get aware about market risks and future opportunities. By analysing future risks and
opportunities in advance, company can easily find out their possible solutions. In simple words,
merchandising department of Wilkinson helps it in removing all business problems and also
make company aware about those opportunities in which it can expand its business.
Distribution: Marketing mangers plays most important role in supply chain
management. After producing goods and services, it is highly important for company to
distribute them in different locations so that customer can easily buy them and also can satisfy
their different needs and wants.
Market research: The most important function of market department is to conduct
market research to determine current needs and wants of customer so that company can produce
its products and services as per their requirements.
Moreover, these are some most important functions of marketing section of Wilkinson.
Marketing is that concept, which combines all functional units together so that organisational
goals and objectives can be achieved in most effective and systematic manner. There are some
points which represents interrelationship between marketing and other functional units of
Wilkinson (Lee and Walsh, 2011). These are follows as under:
Human resource management: The main function of this department is to hire high
skilled employees who can lead organisation to high level of success by using their knowledge.
Marketing department helps HRM in advertising and promoting Job related ads so that company
can attract huge number of candidates and then can select best out of them.
Management department: This section is responsible for creating and applying various
business strategies within work place. But before taking any important action it consults with
marketing team and determine current market trends and on the basis of that it formulates
strategies and plans.
Finance and accounting: Most of business operations are operated by marketing
department, for operating various activities it requires huge amount of capital. Merchandising
section provides each and every information of operations and their cost to finance department so
that it can make records of them and also can estimate future requirement of capital for operating
future activities (Ko, Hwang and Kim, 2013).
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Hence, these are some most important points which represents that there is huge
interrelationship between merchandising and other functional units. Without marketing activities,
no other department can execute its activities in appropriate manner.
TASK 2
P3. Ways in which two different organisation use their marketing mix elements
Marketing mix is that concept which helps company in achieving its desired goals and
objectives in most effective manner. There are seven elements of marketing mix which should be
considered by organisation while making new merchandising plan. All organisation uses this
concept but in different way. Marketing mix involves four major elements which should be
considered by company while taking any important decision regarding work place. Major
elements of marketing mix are product, price, place and promotion. But these components is
applicable to only manufacturing companies. So, marketers have developed three more ps which
can be applicable on service provider organisation. Three extended elements are people, place
and physical evidence. For better growth and development, it is highly important for mangers to
focus on these above mentioned components. By covering these P's company can produce and
implement a successful market place which can help it in accomplishing its all desired goals and
objectives.
There two successful companies which apply marketing mix in different ways which can be
evaluated by below mentioned table:
Marketing mix elements Wilkinson Cadbury
Product This organisation has
diversified range of products
and services which helps in
attracting a huge number of
customer. This company
produce household product
such as DIY, cleaning
products, bathroom goods and
so on. This enterprise focus on
producing those goods which
On the other side, Cadbury is
world’s most popular
confectionery brand, which
produce chocolate bars,
biscuits, desserts and other
confectionery items.
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are basic need of everyday
life.
Price This organisation charges less
price in exchange of its
products (Kim and Hyun,
2011). In simple words,
Wilkinson use penetration
pricing policy so that it can
attract huge number of
customer. It also uses
premium pricing policy for its
some of its expensive
products.
This confectionery company
charges such low price so
that rich and poor people can
buy its products. Prices of
this organisation starts from 5
pound.
Place This organisation has approx.
around 300 stores in all over
the world, which shows that it
has great presence in domestic
as well as in international
market place (Gordon, 2012).
This organisation serves
almost all markets of world.
Promotion For better growth and
development, it is highly
important for company to
promote its business so that it
can attract huge number of
customer. So, this
organisation spends a lot on its
marketing campaign as well as
promotional activities. This
enterprise takes help of social
media channels and TV ads to
promote its different products.
This company does not spend
too much amount on its
promotion as compare to
Wilkinson
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People For managing its different
business activities, it takes
help of approx. around 23,000
employees.
On the other side, Cadbury
have strength of approx.
around 89,000 workers which
makes various efforts to
achieving its desired goals
and objectives.
Process This company gives core
importance to its different
strategies and procedure so
that it makes appropriate
changes as per the market
trends (Huang and Sarigöllü,
2014). Recently it has changed
its supply change management
so that it can improve its
distribution process.
On the other hand, this
company gives core attention
to its manufacturing process
which makes it weaker in
front of Wilkinson.
Physical evidence Various company stores and
innovative products work as
its physical evidence.
This company covers large
market share and currently it
is services its products and
services in more than 200
countries, which shows its
physical evidence.
TASK 3
P4. Basic marketing plan for Wilkinson
Covered in PPT
CONCLUSION
By evaluating this project report, it has been concluded that marketing is the most
essential concept which can lead an organisation to high level of growth and development. It has
been assessed that now a days, Wilkinson is giving core importance to its marketing department
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so that it can promote business and build healthy relations with its customers. In this report,
different merchandising functions of this company have been determined which can help it in
identifying market trends and satisfying actual needs of customers. This function is relating with
its all other functional units or it can be said that it combines all business functions together for
achieving desired goals. Also, different marketing mix elements have been evaluated which can
help this company in reaching at a high level of success.
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REFERENCE
Books and journals
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