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Unit 2 Marketing Essentialsozpaperhelp.com/assignment/unit-2-marketing-essentials-33.html

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Unit 2: Marketing Essentials

Pearson BTEC Level 5 HND Diploma in Business

London School of Science and Technology

Date: 08 June 2018

To: CEO, Marks and Spencer

From: Marketing Manager, M&S

Dear Sir,

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Today, Globalization makes the competition harder among the business organization.

Organizations need to take different marketing strategy to sustain in the market. So the

roles and responsibilities to well understand.

P1: Explain the key roles and responsibilities of the marketing function

Definition of marketing

Marketing is the process of creating awareness among the customers about the product of

the organization through commercialization and advertisement(Kress, Still and Cundiff,

2015). Marketing is also the information exchange with the customers by effective

communication and attracts the customers to certain products and services.

Key roles for the marketing function

Marketing plays different roles through different marketing function, they are;

Marketing strategy: marketing strategyis the introducing innovative ideas in

marketing products and services in the market to reach the customers easily with the

product and services of the organization.

Market analysis:market analysis is the market exploration to search targeted customers

for the organizational products and services (Harris, 2004). Market analysis enables the

organization to take competitive advantage of the market and attract the customers. It

enhances the organizational development and employees improve the targeted customer’s

satisfaction. Market analysis also consists of SWOT analysis which is the strength,

weakness, opportunity, and threads in the markets against the competitors.

Market segmentation: Market segmentation is the separation of the different market

for organizational growth and development. The organization needs to find out certain

market which will help the organization with its resources of targeted customers and the

suitable business environment. The organization needs to segment the market according

to their specialization of different products and services delivered to the customers.

The four targeting strategies there are four strategies for targeting, they are; an

undifferentiatedmarket which means without creating difference among different markets

provide products and services to the mass population.

Concentrated marketing where an organization provides its products and services to a

single market (Blythe, 2010).

Micromarketing whereorganizational products or services provided at basic of individual

need.

Differentiated marketing where an organization has different products and services for

the different segment of customers for their satisfaction.

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Customers analysis: customers analysis is the search for the customer's demands and

satisfaction. Customers analysis is to survey the internal customers for sales information,

customers support and customers feedback and external customers through social

networks for understanding the customer's needs and way of satisfaction.

Product development: product development plays a vital role in the market for the

marketing of the organization and organizational development. Marketing department

helps the internal and external employees to develop the organizational products and

services according to the customers demand found from the customer's analysis and

market analysis.

Competitors analysis: competitors analysis is the process to find out the others

organizations activities in the markets and their products and services to the customers

and their feedback from the customers (Farese, Kimbrell and Woloszyk, 2012).

Competitors analysis helps the organization to identify the market trends and customers

demands and give the competitive advantage for organizational development.

Brand promotion: organization needs to attract the customers and create awareness

about the organizational brand image among the customers to promote the organizational

products and services to the customers and gain their loyalty and reliability in the

organization brand.

Positioning: Positioning is the settlement of the organization for targeted markets and

targeted customers for its products and services. Perfect positioning helps the

organization for future development.

Marketing mix

The marketing mix is the 4P of marketing they are; product, price, place, and promotion.

Product: Product is the intangible and tangible services which an organization produces

for the satisfaction of the customers (Lamb, Hair and McDaniel, 2012).

Price: price is the means of exchange value for the customers to buy the organizational

products and services.

Place: Place is the position of the organization and its branches ensure the availability of

the organizational product and services to the customers

Promotion: promotion is the commercialization and advertisement of the product and

services to the customers to inform the advantage of the products and services by means

of physical and media.

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Figure1: 4Ps of the marketing mix (Harris, 2004).

Communication: communication with the customers face to face or through social

media helps the organization to develop marketing and create awareness of the product

among the customers.

Customer feedback & market monitoring: marketing function survey the

customer’s feedback about the products and services of the organization and their

experiences. Marketing management will inform the operation management to take the

action to develop the product and services according to the customer’s feedbacks and

market monitoring.

After sales support: after sales support plays important roles in products and services

marketing to the customers. It will make the organization trusted to the customers’.

Implementation and control: Implementation is the process of enforcing the

marketing strategy and control is the monitoring of the development of marketing

activities. Implementation and plan include the allocation of resources like manpower,

budget, and process of product development .it helps to find the actual results of the

marketing plan.

P2. Explain how the roles and responsibilities of marketing are related

within the context of M&S.

Marks & Spencer is one of the leading multinational retailer in the United Kingdom with

979 retail stores in the United Kingdom. Provides its products and services in 55 countries

through effective marketing and its function.

Roles and responsibility of marketing of M&S

Market analysis:M&S do the market analysis to find an appropriate market for the

organizational products and services. It will provide a competitive advantage of the

market (Marksandspencer.com, 2018).

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Product development: M&S do product development through marketing. Marketing

gives the organization feedback of the customers and according to that feedback, the

product is developed.

Sales support: M&S provide after sales support to the customer to make them loyal to

the organization and become trusted to the customers.

External environment influence

External environment refers the external factor who influence the organizational

marketing. Some of them are as follow;

Competitors: competitors cause M&S to change its marketing strategy. To get the

competitive advantage organization introduces new marketing plan.

Consumer taste:customer taste change the organizational marketing strategy. M&S

Organization produces develop product and improve marketing plan (Hidalgo, 2015).

Regulation:government imposes different regulation for the organization. According to

regulation, M&S change its marketing strategy in different countries.

Technology:technological change also cause the organization to change in marketing.

M&S now doing marketing social marketing and online shopping.

Marketing mix

The marketing mix is the 4P of marketing they are; product, price, place, and promotion.

Product: The M&S Company provides luxuries food products, Home products, footwear

and clothes for young and old customers. Top brand for food supply.

Price: The M&S Company keeps the products price nearer to the competitors’ products

through competitor’s strategy.

Place: The M&S Company has over 979 stores for selling the products within the United

Kingdom and 1433 retail stores in 55 countries(Kress, Still and Cundiff, 2015).

Promotion: the M&S provide different promotional campaign for advertisement of its

foods and clothes. It also promotes its product through advertisement in print and electric

media, social media and billboard etc.

Explain the role of marketing within B2B context

B2B is the business to business marketing strategy. The business organization needs to

buy raw materials or semi-raw materials which is the product of another business

organization (Hollensen, 2012).

The products or services of an organization goes to another organization is known as B2B

marketing.

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The role of marketing within B2B context is as follows.

Creating long-term relationship: In B2B marketing both organizations are

dependent on each other for their product and services which emerge the improvement of

the long-term relationship with each other’s (Hollensen, 2012). Long-term relation

ensures the continuous the effective business activities for both organizations.

Creating value: B2B marketing creating value for both organizations. This value causes

further development of the products, quality, quantity, and price and expands the

anticipated market. Values develop the awareness of the product within the markets.

Serve small market: The B2B marketing serves small markets due to the buyers and

customers are specific in this market. Seller has only the buyer organization as their

customers for products and services.

Marketing of M&S through B2B contest: M&S contributing to B2B business context

by providing the whole sell to the small organization of different countries to extend the

brand image and values to the global customers. B2b help the M&S organization to serve

a small market where establishing a retail store is not profitable.

Explain the role of marketing within B2C context