marketing essentials assignment 2

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UNIT 2 - Marketing Essentials Assignment

1. introduction of marketing concepts according to current and future trends:, 2. a critical overview of different marketing processes :.

• 3. Role and responsibility of a marketing manager in “Rolls Royce” :
• 4. Analysis of marketing influences and other functions in “Rolls Royce”:

5. Value and importance of marketing role

6. conclusions, the marketing strategy of rolls royce (primary company), marketing strategy of toyota plc (competitor company), compression between the marketing strategy of rolls royce (primary company) and the marketing strategy of toyota plc (competitor company) with the help of 7-ps, developing a marketing plan for the company rolls royce.

The marketing concept refers to a general term that focuses on customers. It indicates how a company will be able to flourish its business. The main job of a company is to satisfy the needs of the customers. It determines what the marketer wants or the customer needs then implements different kinds of plans to improve its product to match the customer's needs according to the match. It is associated with various kinds of concepts such as the Production concept, Product Concept, selling concept, Marketing concept, societal marketing concept, etc. “ Rolls-Royce” is a selected company where the roles of marketing would be analyzed.

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Figure 1: “Rolls Royce”

(Source: rolls-royce.com, 2022)

Trends of the marketing concept help in evaluating and controlling the situations as the future trends help in ensuring that the company would not take wrong decisions and judgments. There are different kinds of current and future trends that enhance the concept of marketing. Marketing moves very fast and analyzes how to implement the trends to attain strategies in according to keep the business on track (Erkin and Muborak, 2022). Some trends are AI in marketing, Technology, Influencer marketing, and personalization. Artificial Intelligence is becoming a best future trend and a very famous marketing trend to enhance its marketing positions. It not only helps in providing useful data but is also useful in making predictions.

Technology helps in strengthening the marketing concept by finding what a customer wants or what is going on. Technology helps in assessing the overall data and making strategic decisions that help maintain the company's marketing position. Influencer marketing helps in evolving and connecting with a large platform. It helps in enhancing the market with the help of influences that help in reaching a large number of consumers. Social media helps in improving the concept of marketing as it is current trends that mean many marketers are using these trends (Saleh and Miah, 2019). The next trend is personalization, personalization helps in assessing the product by improving it into a better version. It creates a good impact in the mind of consumers that they are going to use a creative and varied product. Personalization signifies any business towards improvement with the help of analyzing various data.

Figure 2: “Different Process of Marketing”

(Source: Bartov et al, 2021 )

Marketing involves different kinds of processes that help any business firm to go according to the plan and achieve the goal of the business. Marketing involves the first process to find out the main objective of the business because all marketing strategies should revolve around the plan. Marketing managers evolve by analyzing the mission and implementing strategies. The next process is to Analyse the situation as it helps in analyzing whether the plan is good or not and is in accordance with the situation.

The next process is to make a strategy for evaluating marketing tools. This helps the business firm in making strategies that will enhance the market. The next process is related to the marketing mix, as it creates various kinds of tools that will help in implementing marketing strategies (Rutz et al , 2019). The last step is implementing and controlling the overall mission through the implementation of strategies. The marketing process helps in analyzing the overall procedures and controlling it with each and every step. It helps the firm in utilizing the resources to the optimum level and also creates a good impact through completing its target level as it increases the morale of the business.

3. Role and responsibility of a marketing manager in “Rolls Royce” :

The Marketing Manager has the responsibility for developing, making, and implementing the strategies for a marketing plan for the organization. Marketing managers develop some strategies that help in attracting a wide range of customers. Marketing managers are responsible for making the plan and strategy implementation. Reaching the target of the organization manager helps in creating a budget that will cover all the expenses. A marketing manager generally manages the targeted plan that will help the company in performing better. It creates informative content for the media that help in reaching consumers.

A marketing manager helps in building a good relationship with other kinds of agencies and vendors that helps in connecting as per the need of an organization (Bartov et al . 2019). The Marketing manager of Rolls Royce helps in analyzing the needs of the customer and analyzing the trends as to what kind of design and innovations are demanded by the public. It helps the company for controlling overall estimated plans and also develops some strategies to get through that. Marketing managers can also change some strategies according to the situation. Therefore marketing managers help the company for completing the goal and implementing strategies for the business organization.

4. Analysis of marketing influences and other functions in “Rolls Royce”:

“Rolls-Royce” is an automobile manufacturer company. It is famous for making the best car globally. The marketing mix signifies about the sum of brands and products that took over the market. It includes with price, product, place, and promotion strategies of the company and how they can be used to utilize the company's goodwill. The price strategy of rolls royce targets mainly the upper class and rich people. The company has created the price according to the affordability of rich and upper-class people as keeping the price high-premium strategies. The product strategy of the company plays a vital role in attracting people with the help of providing a front bonnet finish of metal which looks very rare and royal. The place strategy of the company is also the best as it operates around 50 countries globally. The highest sales are taken from various countries such as the UK, the Middle Eastern countries, etc. The promotion strategies of the company have succeeded as it builds its overall goodwill through promotion (Ebrahim et al, 2020). It promoted the techniques such as organizing events or conducting marketing through advertising. Therefore, Rolls Royce has succeeded in the market by implementing a good strategy that helps in developing its market globally. It helps in analyzing the overall things that took the business to greater success as it is one of the best automobile manufacturing companies globally. The marketing strategy of the company is good for conducting various kinds of strategies.

Marketing plays a crucial role in enhancing the sale of the company and is also important in attracting new customers to the business. However, the company Rolls Royce is one of the famous luxury car brands in the country UK which operates its business worldwide. In addition, the company operates its business in different countries for which the proper identification of the preferences and needs of the customer must be analyzed first for customer retention. Along with that, there are some basic importance of adopting a proper marketing strategy for the company which are,

Customer engagement: Marketing is the most valuable part of an organizational practice for attracting customers and also to develop customer loyalty to the business (Varadarajan, 2020). However, the company Rolls Royce's marketing strategy is totally based on targeting high-profile customers and giving them high-end service.

• Market reputation: Building a market reputation is not easy as it requires better practices in improving the company's performance. Further market reputation depends on the company's preferences in a change in current business practices to deliver better service to the customers.
• Sales boost: The connection between marketing and selling can be defined as a positive connection between the two variables. Accordingly, if a company adopts the best marketing strategy then it can positively impact the sales of the company (Olson et al. 2021). Further, with the help of marketing a company can build a strong relation in between the company and the customers which is also effective in boosting the company's sales.
• Decision making: Marketing give the opportunity to a company to analyze the change in the market and the requirement of changes in the current business p[artce based on the perspective of customers. Accordingly, marketing is also valuable in identifying the required changes in customer services which helps an organization to deliver better service to its customers.
• Competitive advantages: Market competition can arise from the side of customer engagement, product pricing, or product development, however, marketing is important in creating competitive advantages in the market. Accordingly, with the help of marketing a company can easily deliver its product information to its customer.

Marketing is the most valuable part of an organization that is coherent with the growth of the company in both market and financial ways. However, the 7Ps marketing strategy gives identification of the importance of the proper analysis of the product, price, people, place, promotion, process, and physical evidence. Accordingly, to the company Rolls Royce, the pricing strategy of the company is the most effective in enhancing its market sale. Along with that, the company's practice of marketing mix with top-class branded cars company such as Phantom and Dawn is also an appropriate decision in delivering quality products to its customers. In addition, the adoption of the 7Ps marketing strategy is also valuable for the company to give its competitive advantages. Besides that, by identifying the promotion strategy of the company it can also be said that the company is following a proper marketing plan which is valuable for the sales growth of the company.

Rolls Royce flows a 4-ps marketing strategy in the company. The first P is “Product mix” Rolls Royce is a globally recognized passionate jeep brand located in the British Commonwealth. Rolls Royce is a professional car builder that supplies engines to elite customers. Rolls Royce has some prominent brands such as “ Ghost, Dawn, Demon, Ghost, etc”. Rolls Royce Motors offers custom convertibles to customers, and customers have no rush to go with the Rolls Royce brand, another corporation with the same name.

The second P is the “price strategy” Rolls Royce engines are great value trucks and they are only available to extremely wealthy and wealthy customers. The value of the participatory buying appeal is kept to the maximum as it offers top-notch fruit, support, and refinement while providing the ability to customize to the customer's needs.

The third P is “place or market mix” Rolls Royce has a great closeness in common. The brand has divisions spread over 50 countries as a whole. Families from 150+ countries like USA, UK, India, Middle East, Australia, China, etc. using a Rolls Royce machine. Rolls Royce has its headquarters in the British Empire, where they have a comfortable management system and results for their customers. Because Rolls Royce has a small customer base, they have worked hard to maintain a strong liquidation network of glamorous jeeps. Because Rolls Royce is made to order, replacements and upgrades are identified individually and they are made when the consumer opens the door.

The fourth P is “promotional mix” Rolls Royce has a great heritage and is an exciting brand. It is not a fruit that ordinary people would buy and therefore Rolls Royce does not attend the normal announcement game plan as part of the in-store shopping

Toyota Motor flows a 4-ps marketing strategy in the company. The first P is “ Product mix” Toyota cars are the ultimate standard in this cargo fork area. Favorable cars are a device for holiday enthusiasts. In other words, the gratifying order is about reducing the number of Toyotas for retirees and limiting escorting crowds. The party also manufactures yachts, power plants, and auto and seafood parts and accessories. This small purchase shows that Toyota is achieving more unusual advertising and reducing information exposure risk. Through a combination of different brands (Artanti et al. 2022).

The second P is the “place or market mix” Toyota dealers are the place where business projects take place. However, some retailers such as auto supply stores still hawk the goods, like parts and accessories. This part of the sale shows that Toyota relies heavily on dealers to sell glamorous devices to targeted retail stores.

The third P is “promotional mix” The association also uses the accumulation of various types of news, such as television, regular and ongoing publications containing information, and websites. In addition, the company promotes attractive products through image promotion, and to some extent the Toyota Together Green program that supports physical drives.

The fourth P is “price strategy” These image promotion projects establish a certain brand image for Toyota. This approach to pricing is noticeable in the vast majority of Toyota merchandise, to some extent sedans and trucks. However, the company also uses a profit-based pricing game plan, setting prices based on a real and tangible advantage of the money. The group uses a fixed in favor of an exclusive amount or more expensive, to some extent Prius and Lexus cars (Dewi and Ayuningtyas, 2019).

Figure 3: 7Ps marketing mix

(Source: Altay et al. 2022)

Table 1: Compression of two companies in terms of 7Ps

The marketing mix is the practice which adopts by an organization to the promotion of the brand or product to attract new customers and enhance the sale of the product. However, in the market mix, the 4ps model is the most famous marketing approach of companies which is basically based on the product quality, pricing strategy, place strategy, and promotion of the product. In addition, the introduction of the 7Ps marketing mix values the other factors in the market which are people, the process of selling, and physical evidence (Altay et al. 2022). However, the company Rolls Royce is operating its business in the global market for which changing the marketing strategy might be profitable for the company for enhancing its customer base. There are various advantages of adopting the 7ps model which might benefit the company from several aspects which are,

Improving customer service

The involvement of the 3ps in the 4ps model first prioritizes the customer service provided by the company to the customer. However, the term people in the 7Ps model implies that the people who are directly connected with the customers on behalf of the company need to be properly trained and knowledgeable about the importance of the delivering best customer service (Siripipatthanakul and Chana, 2021). Accordingly, by prioritizing customer preferences a company can easily hold customer loyalty and can also attract new customers to the business which is coherent with the market reputation improvement. On the other hand, giving proper service to the customer is also valuable in developing competitive advantages in the market.

Delivering proper service by following the steps

Customer always wants value for their money; accordingly, the customer also requires the best support from the company's end. However, the measurement of delivering a product or service to the customer in an appropriate way is important in valuing customers (Do and Vu, 2020). In addition, the company Rolls Royce needs to be more practicable in measuring the factors which are valuable in delivering proper service and products to the customers.

Change in the marketing style

The involvement of digital marketing is appropriate in connecting customers with the organization, however, email marketing and website development are crucial in demonstrating the existence of the brand to the purchase of the product. Accordingly, this factor in the marketing mix is valuable to a company for making changes in its current marketing practices.

The company Rolls Royce currently uses the 4ps marketing mix which the company might face challenges in delivering the proper service to the customers and also analyzing their perspective. However, the company might adopt the 7ps model which would benefit the company in valuing its customer. Accordingly, by giving proper training to the sales executive or the company's staff who rate direct related to the customers the company can also improve its current customer service style. On the other hand for minimizing the market competition and enhancing customer base this marking mix is also effective.

References:

Altay, B.C., Okumu?, A. and Ad?güzel Mercangöz, B., 2022. An intelligent approach for analyzing the impacts of the COVID-19 pandemic on marketing mix elements (7Ps) of the on-demand grocery delivery service. Complex & Intelligent Systems, 8(1), pp.129-140.

Bartov, E., Marra, A. and Momenté, F., 2021. Corporate social responsibility and the market reaction to negative events: Evidence from inadvertent and fraudulent restatement announcements. The Accounting Review, 96(2), pp.81-106.

Do, Q. and Vu, T., 2020. Understanding consumer satisfaction with railway transportation service: An application of 7Ps marketing mix. Management Science Letters, 10(6), pp.1341-1350.

Ebrahim, R.S., 2020. The role of trust in understanding the impact of social media marketing on brand equity and brand loyalty. Journal of Relationship Marketing, 19(4), pp.287-308.

Erkin, G. and Muborak, R., 2022. Modern marketing concept. Web of Scientist: International Scientific Research Journal, 3(8), pp.60-66.

Olson, E.M., Olson, K.M., Czaplewski, A.J. and Key, T.M., 2021. Business strategy and the management of digital marketing. Business horizons, 64(2), pp.285-293.

Rangaswamy, A., Moch, N., Felten, C., Van Bruggen, G., Wieringa, J.E. and Wirtz, J., 2020. The role of marketing in digital business platforms. Journal of Interactive Marketing, 51(1), pp.72-90.

rolls-royce.com,2022 2022 From: https://www.rolls-royce.com/~/media/Files/R/Rolls-Royce/documents/annual-report/2021/2021-full-annual-report.pdf

Rutz, O.J. and Watson, G.F., 2019. Endogeneity and marketing strategy research: An overview. Journal of the Academy of Marketing Science, 47, pp.479-498.

Saleh, H.M.Y. and Miah Said, S.E., 2019. Konsep dan Strategi Pemasaran: Marketing Concepts and Strategies (Vol. 1). Sah Media.

Siripipatthanakul, S. and Chana, P., 2021. Service Marketing Mix (7Ps) and Patient Satisfaction in Clinics: A Review Article. International of Trend in Scientific Research and Development, 5 (5), pp.842-850.

Tien, N.H., Phu, P.P. and Chi, D.T.P., 2019. The role of international marketing in international business strategy. International journal of research in marketing management and sales, 1(2), pp.134-138.

Varadarajan, R., 2020. Customer information resources advantage, marketing strategy and business performance: A market resources based view. Industrial Marketing Management, 89, pp.89-97.

Wrede, M., Velamuri, V.K. and Dauth, T., 2020. Top managers in the digital age: Exploring the role and practices of top managers in firms' digital transformation. Managerial and Decision Economics, 41(8), pp.1549-1567.

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Unit 2 Marketing Essentials Assignment

2.1 Compare how EE Limited and another ocmpetitor apply the various elements of the extended marketing mix to the marketing planning process to achieve business objective.

Marketing mix can be defined as the set of tactics or actions which are usually used by the business entities for the purpose of promoting brand or the product for the consumers in the target market. The elements which are considered to be the part of the extended marketing mix are as following (Kotler, 2013; Majumdar, 2001):

• Product: This is the manufactured goods which are sold to the consumers which may be physical product as well as intangible service or a mix of both.
• Price: This is the pricing decided by the company according to the strategy of it, which the consumers are needed to pay for using the products or services of the company.
• Promotion : This involves the way the company communicates and sells the products to the consumers through advertisements or promotional decisions.
• Place : Place primarily involves the channels of distribution for the products or the services of the companies.
• People : This is the essential part of the extended marketing mix which involves the employees as well as other relevant internal stakeholders for the companies.
• Physical Evidence/Layout : The way product is presented to the consumers, including the stores etc.
• Process : Process primarily involves the way the consumers are given services, complaints are handled, and any issues are foreseen previous to they in reality take place.

The companies which are being discussed for the purpose of this paper is EE Limited which is a British internet service provider as well as a mobile network operator. Hence the company which has been chosen for the comparison is Three Mobile, which is also in the same industry space. This company has been in view of the fact that it is in the same industry as of EE Limited and hence the comparison between the uses of various elements of the extended marketing mix of these companies to their marketing planning processes. Following is the discussion for each of these elements and comparison between the way the same are used for the marketing mix for the companies under discussion (Kotler, 2013).

As far as the mobile phone and internet service industries is concerned, the differentiation with respect to their product offerings is minimal. Almost all the companies in this industry including EE Limited and Three Mobile have more or less similar product or service offering for its targeting customers. EE Limited and Three Mobile offers wide range of service to its consumers which include voice services, data and internet services, messaging services as well as fixed line solutions. These products are developed by the companies with the purpose of assisting the consumers with their needs of the communication. However some level of differentiation is present between this element of marketing mix for EE Limited and Three Mobile. The focus which EE Limited has in terms of its product offering is more emphasized towards the B2B (business to business) consumers and hence the company centers on the text messaging and voice services more. These are also aligned with the functionality and core use of the handsets. On the other hand Three Mobile is more reliant on the retail consumer segment and hence to cater for the different needs of the consumers, the company has various data and internet as well as voice services for different segments of the customers. This also affects the marketing processes of the companies in view of the fact that the companies market their products differently to the retail consumer and the business consumers (Kotler, 2013).

Due to the high level of competitiveness within this industry the pricing which are decide by both of the companies are discussion are competitive and is constantly tweaked and altered for increasing their market share. This is very important for the marketing of the companies in view of the fact that the marketing activities are also needed to be carried out frequently to inform the consumers regarding the changed pricing of the companies. However due to the intrinsic difference in the target markets of both the companies it can be said that there is some variation in the price structures of EE limited and Three Mobiles as they try to suit different needs of different types of customers. EE limited with its focus on the corporate segment has various small as well as large postpaid plans. On the other hand Three Mobile has various prepaid plans as well targeted towards the high number of retail consumers who are not so heavy users of the same.

There is a significant different between the promotional strategies between these companies in view of the fact that the predominant consumer segments are different for these companies. The B2C nature of Three Mobile facilities the focus of the company on the social media marketing as well as mass marketing through the television and newspapers and magazines. On the other hand EE Mobile focuses on B2B marketing through engagement with the corporate and providing them dedicated customer service as well as sales team for relationship building and maintaining.

Due to the advent of internet and other relevant information technology driven commutation channels the importance of the physical stores of the companies has diminished. However Three Mobile has more number of consumers’ stores for catering to the retail consumers of the company. EE Limited has a very less number of stores and focuses more on developing and enhancing the call centers and website for catering to the requirement of the customers to avail the mobility solution which they are looking for. Hence Three Mobile also has more opportunity for in store marketing which adds to the

There is a lot of focus on the overall productivity as well as effectiveness of performance for the internal employees of EE Limited. In view of the fact that the company is significantly dependent on its well developed sales team for closing the deals with the corporate customers, the same is a very important for the marketing activities of the company. On the other hand Three Mobiles dependency on the people is relatively less.

Physical Evidence

This is also a very important factor for the physical stores which the companies under discussion have. In view of the fact that Three Mobile is more reliant on the retail consumer segment and to cater to the different data and voice service requirements of the consumers, the company has various more number of retail stores and it is an important aspect of the marketing for the company. On the other hand, EE limited has less number of stores and their marketing strategy is also attuned to the same.

This is very important for both the companies in view of the fact that the companies rely on the innovative product and service offering significantly which in turn is facilitated within the company through the efficient as well as effective processes. Also the defined marketing processes are different  for the companies due to the difference in the target markets for the same.

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2.2 A marketing plan to meet EE’s marketing goals and objectives

Executive summary.

The company that is being discussed in this paper for development of a marketing plan is EE Limited. This company is a British Telecommunications company and it operates in the mobile network as well as internet service provider industry space. For the reason that the company has already a stronghold on the existing market and customer segment, it will attempt to reach out to a new and relatively untapped segment of consumers through this plan. For this the social media marketing strategy will be defined and modifies and will be supported by various ATL and BTL campaigns which will help in create a brand awareness of EE Limited for the next generation of the consumers.

Company Overview

The company that is being discussed in this paper for development of a marketing plan is EE Limited. This company is a British Telecommunications company and it operates in the mobile network as well as internet service provider industry space. The company, which is the largest mobile network operator in the UK and biggest provider of 4G services in Europe, was established in the year 2010 through a joint venture between Deutsche Telekom and Orange S.A. The company has approximately 30 million consumers. Although the company has a fairly evolved marketing strategy, due to the changing dynamics of the industry as well as the ever shifting consumer behavior, it is important that a new marketing plan is developed and fine tuned for the customer segment of the company. The same will be done through this section of the paper. In view of the fact that the company already has a stronghold on the existing market and customer segment, it is trying to define and modify a social media marketing strategy supported by various ATL and BTL campaigns which will help in create a brand awareness of EE Limited for the next generation of the consumers. This is the marketing strategy which will be developed through this course of this paper.

2.3 Current Marketing Situation Analysis

Internal and external analysis.

For the purpose of internal as well as external analysis, the tool which has been chosen for this report is Porter’s 5 forces. This is a relevant tool for analyzing the companies in the telecommunication industry in view of the fact that the same looks into the competitiveness of the company in this highly competitive industry (Ireland, 2004). The factors which will be looked into for the purpose of this analysis are as following:

• Competitive rivalry : This force is very significant in the context of the telecommunication industry of Europe as well as UK. Due to the presence of various companies within the mobile phone and internet servicing industry with little or no differentiated product offerings, the risk of rivalry is intense in the industry. Almost all the companies in this industry have more or less similar product or service offering for its targeting customers. All the companies offer wide range of service to its consumers which include voice services, data and internet services, messaging services as well as fixed line solutions.
• Bargaining power of suppliers : This risk is low for EE Limited in view of the fact that it is the largest company in this industry and hence the control on the suppliers and vendors will be significantly high for the company.
• Bargaining power of customers : This risk is moderate for EE Limited for the reason that there are various competitive companies within the market which are offering same or similar products as well as services. Hence the consumers can switch their loyalty quickly. However due to the retail nature as well as deep penetration of the business, loss of individual customers is usually not very vital for any company.
• Threat of new entrants : This threat is low for the companies in this industry which includes EE limited as well. The reason for this is the very high capital cost which the new companies need to bear in case they want to enter in the telecommunications segment. This acts as a significant entry barrier for the new entrants in the market and hence it can be said that  this threat is low for the company
• Threat of substitute products or services : This threat is also low due to the ubiquitous nature of the mobile telephony in the modern day society. There is hardly any substitute for the service which may include satellite phones, desk phones etc. However these are either obsolete or beyond the reach of the general people for usage.

SWOT analysis

Following is the SWOT analysis for EE Limited (Ireland, 2004):

2.4 Marketing Objectives

The marketing objective for which this marketing plan is being designed is as following:

• To create brand awareness in the mind of the millennial and new age mobile phone consumers regarding EE Limited
• To utilize social media as the primary channel for the marketing communications and support the same with the traditional ATL as well as BTL campaigns 

2.4.1 Marketing Strategy

Marketing mix can be defined as the set of tactics or actions which are usually used by the business entities for the purpose of promoting brand or the product for the consumers in the target market. The elements which will be considered as the part of the marketing plan are as following:

The primary product offering for this marketing plan would be high speed 4.5G data and internet services along with calling through voice over internet protocol (VOIP). These products will appeal to the teenagers who usually are the early adopters of technology and related services.

In view of the fact that the focus is on the development of long term loyal customers, it will be important for the company to offer a lower pricing strategy for the specific market segment which is being addressed here. The company needs to roll out various prepaid plans targeted towards the high number of young users who will also be heavy users of the data services.

The aim of the promotional strategy will be to make use of social media as the primary channel for the marketing communications and support the same with the traditional ATL as well as BTL campaigns 

According to the marketing channels as well as the product offering, the strategy for the place will shift from a brick and mortar strategy to a brick and click model where there will be online 24/7 help for the consumers through the internet and social media channels apart from the physical stores of the companies . There will be a focus on developing and enhancing social media support, grievance redress as well as the call centers and website for catering to the requirement of the customers (Mangold, 2009).

Employees who would be working as the face of the company for the consumers through the social media and call centers will be trained well and adept at handling customer grievances and queries. There will be a lot of focus on the overall productivity as well as effectiveness of performance for the internal employees of EE Limited.  

Due to the low use of the physical stores, the physical evidence for this marketing segment will not be present at all.

EE Limited will need to develop various innovative product and service offering through the efficient as well as effective internal processes.

2.4.2 Marketing Segmentation, targeting and positioning (STP)

In view of the fact that domestic market of the company under discussion has highly diverse demographic characteristics, due to the people belonging to different economic as well as social classes, it will be important to implement an effective strategy for STP. In this process, the entire market is broken down into few groups of homogeneous people basis some specific criteria. Following this a segment will be chosen for targeting and the product will be positioned for appealing to that particular segment (Kotler, 2013). Following are the segments which are being recommended here. The demographic segmentation is being used for the same. Segment 1 : Consumers with lower average age from year 14 to year 23 and belonging to the household with higher average income ($600 per month or above) Segment 2: Consumers with mid level average age from year 23 to year 29 and belonging to the household with higher average income ($600 per month or above) Segment 3 : Consumers with higher average age from year 30 and above lower average income ($600 per month or less) In view of the fact that the marketing objective that has been chosen for this marketing plan is to create brand awareness in the mind of the millennial and new age mobile phone consumers regarding EE Limited and utilize social media as the primary channel for the marketing communications, the segment which can be targeted is Segment 1.   EE Limited will have a cutting edge technology product offering and medium to high pricing which will eb appropriate for the chosen segment. The primary product offering for this marketing plan would be high speed 4.5G data and internet services along with calling through voice over internet protocol (VOIP). These products will appeal to the teenagers who usually are the early adopters of technology and related services.

2.4.3 Marketing Tactics & Action

The marketing tactics of the brand will be as following:

• In view of the fact that the millennial and youngsters are being the decision makers for the product and segment which is relevant for this marketing plan, EE needs to use social networking websites for reaching out to them (Saravanakumar, 2012). These people are very active on the social networking websites and use the same for information collection for decision making. Also as has been shown in various studies, this demographic segment spends 2-4 hours per day on an average on the social networking websites (Kotler, 2013).
• Traditional ATL as well as BTL campaigns will also be used for supporting the campaigns through the social networking websites for creating a top of mind recall as well as brand awareness (Kotler, 2013).

There will be a campaign which will be initiated through the Twitter and Facebook page of the brand and will be sponsored / targeted to the selected segment. This will have a catchphrase of “Your gateway to Digital Life” These social networking websites will be very useful medium for engaging and interacting with the consumers. In view of the fact that the target consumers is expected to be early adopters of technology and well informed regarding tools including Twitter, Blogs, etc. the same will also be used for interaction with the individual customers and receive quick feedback from them. Videos and pictures would also be uploaded on the website which would help in maximizing impact (Kotler, 2011).

2.4.4 Marketing Budget

2.4.5 Marketing Control

In view of the fact that the marketing campaign is primarily aimed towards defining and modifying the social media marketing strategy supported by various ATL and BTL campaigns which will help in create a brand awareness of EE Limited for the next generation of the consumers, the marketing control will also be designed accordingly (Saravanakumar, 2012). There are various approaches for controlling the marketing activities. The ones which will be used in this plan is: Marketing research : Through the research the rise in the brand recall and brand awareness will be tracked for the specific target segment at the interval of every quarter and there needs to be at least 5% rise QOQ for sustenance of the marketing plan.

For the reason that the company has already a stronghold on the existing market and customer segment, it will attempt to reach out to a new and relatively untapped segment of consumers through this plan. For this the social media marketing strategy will be defined and modifies and will be supported by various ATL and BTL campaigns which will help in create a brand awareness of EE Limited for the next generation of the consumers.

Majumdar, R (2001), Product and Marketing Management, PHI Publishing Group, Page 99-107 Michael A. Hitt, R. Duane Ireland, Robert E.  (2004), Strategic management: competitiveness and globalization :concepts & cases, Houghton Mifflin Harcourt, Page 119-121 Rieple, A. (2008), Strategic Management: Theory And Application, Oxford University Press, Page 130-137 Kang, Juhee (2015). Social media marketing. Journal of Marketing. Mangold, W.G. & Faulds, D.J. (2009). "Social media: The new hybrid element of the promotion mix". Business Horizons. Saravanakumar, M. & SuganthaLakshmi, T. (2012). "Social media marketing". Life science journal

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Unit 2 Marketing Essentials Assignment

Introduction.

For accomplishing business objectives, the organisation has to take help from different business functions such as human resource management, finance, accounting, production, and marketing. Out of these functions, marketing is most important because it helps the organisation in selling as well as promoting its business so that it can accomplish competitiveness over a market competitor. For the current business report, Your Destinations has been selected as it is a newly established organisation and gives core attention to its marketing activities. This organisation is a rapidly growing firm which operates its business activities into Essex and London. For having better growth and development Your Destination wants to expand its business in Aberdeen, Newcastle, and Manchester so that it can easily compete with market leader namely National Express. This report will include the discussion on different marketing roles and responsibilities that a manager has to perform. Also, it will be explained that how marketing roles and responsibilities contribute to achieving business objectives. Further, it will include the comparison between your destination and National express to determine how different organisation applies marketing mix elements.  At last, there will be the development of a clear marketing plan which will help your destination in dealing with market competitors.

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

Marketing can be referred to as a process of buying and selling goods or services, which helps the organisation in accomplishing its objectives as well. In traditional time, business people have focus only profit maximisation instead of the satisfaction level of customers. In the present time, all business entities have become market-oriented which force them to focus more on their marketing activities as well as practices. For controlling as well as managing the marketing activities, your destination appoints marketing to manage who plays different roles and responsibilities so that organisation can huge market growth and development (Armstrong, Adam, Denize and Kotler, 2014). There are various important tasks which should be completed by marketing managers such as product promotion, advertisement, and fulfilment of all production requirements because production is the only function upon which business success depends. Apart from this, the manager of the marketing section must be accountable for the coordinating, controlling, organising and directing function. Your destination is a transportation organisation which totally depends upon its management function and marketing activities because they help the organisation in attracting a huge number of customers and managing them in an appropriate manner. Moreover, there are some other marketing roles and responsibilities which should be performed by the manager of your destination, these are followed as under:

Market research: This is the first and most pivotal responsibility of any marketing manager. For surviving in a competitive marketplace, the manager has to be well aware of the exact customer needs and market trends. By having knowledge about customer needs organisation can make changes in its current production function and produce products or services which highly satisfy the customer needs (Arnett and Wittmann, 2014).

Promotion and advertisement: It has become very much important for a marketing manager to keep knowledge about different promotional and advertisement techniques so that it can promote its business products in a cost-effective manner. Both promotion and advertisement are essential activities for marketing managers as it helps the organization in competing with market competitors and attracting a large number of customers.

Brand management: In the present time, only those companies are surviving in a competitive marketplace that has strong brand equity or which manage its brand image in an appropriate manner (Bai and Chang, 2015). For making your destination a successful transportation organization it is important for its marketing manager to adopt those methods through which he can manage as well as increase its brand equity in the marketplace.

Product development: On the basis of market research, the marketing manager has to improve their production process so that they can produce a high-quality product in a cost-effective manner. In simple words, the marketing manager is responsible for identifying the market trends and implementing them in current product function so that organization can provide high-quality products to the customer at lower prices. Also, this step of market manager helps the organisation in accomplishing competitive advantage over market competitors (Baker, 2014).

Internal communication: The most significant role of the marketing manager is to build good relationship among all business sections so that they can communicate and cooperate with each other, also they can help the organisation in leading at high business growth.

Hence, these are the major function which needs to be operated by the marketing manager of your destination in order to increase the business growth as well as development.

P2 Explain how the roles and responsibilities of marketing relate to the wider organisational context.

Marketing is an only business function which creates interrelationship among other business functions such as production, research & development, finance and so on. Your destination can accomplish its business objectives only if its marketing manager performs his roles and responsibilities in the wider organisational context (Baker, 2014). In simple words, by performing marketing roles and responsibilities manager can help other departments in accomplishing their goals as well as objectives. The major roles of marketing manager of your destination are followed as under:

(Figure 1 : Roles of marketing manager)

(Source: Feng et al., 2015)

Identification of market potential: For surviving in a competitive marketplace, it is highly essential for a marketing manager to identify current market trends as well as growth opportunities which can lead their business to the high level of success and growth. In the present time, all companies try to identify their market needs and potential so that they can satisfy their target customer in most effective and in a relevant systematic manner (Chen, 2014). The manager of marketing regarding your destination focus on those merging needs of the market which attract customer most. By satisfying such needs Transportation Company can easily achieve competitive advantage.

Creation of marketing plan: For fulfilling the business objectives, marketing manager of your destination produce successful business plans which assist the organization in increasing organisational profitability as well as productivity. While making a marketing plan, a business manager has to keep in mind various important aspects such as targeting, segmenting and positioning activities which leads the organisation towards business success. In the present time, business entities invest huge amount on their marketing plan because it helps them in analysing their current market position (Chen, 2014). Also, it provides strategic direction to the company so that it can achieve its desired results in an appropriate manner.

Supervision of business activities: It is the huge responsibility of marketing manager to supervise business activities so that they can improve the efficiency as well as the effectiveness of the business enterprise. The process of supervision makes marketing manager familiar with internal and external activities of your destination such as production, procurement, and service delivery process.

Product launch: Before the product launch, marketing manager deeply analyse the positive and negative sides of the product so that it can make sure that customer will not get harmed. After getting passed from different tests, business services reach to final customers.

Hence, these are some most important roles and responsibilities of marketing manager which coordinates with other business departments like production, finance etc. so that desired business goals can be accomplished in an appropriate manner (Correia and Mårdh, 2013). The functions which are coordinated by the marketing manager are followed as under:

Finance Department: Without taking any help of finance section, the marketing manager can never build a successful business plan because for operating planned activities it needs enough capital. While making a marketing plan, manager consults with finance team so that he can allocate financial resource in an appropriate manner. This helps your destination in creating coordination among business functions and also helps in creating effective marketing budget that fulfils all the planning requirements.

Production Department: The most effective function of the manager in respect of marketing is to research and identify current market trends. After collecting market information, he has to consult with production manager so that they can make changes in the production process if required. With mutual understanding, marketing and production can make necessary changes in a product which will help the organisation in increasing its profitability as well as productivity.

Research and Development Department: This section is responsible for researching new needs of the customer and developing quality products which can bring an organisation to reach and earn a high level of profits and success. The R&D section deeply analyses that information which is collected by marketing section for better growth of business entity (Cummings and Worley, 2014). The coordination among marketing and R&D section helps your destination in accomplishing its desired goals as well as objectives.

M1 Analyse the roles and responsibilities of marketing in the context of the marketing environment.

The globalisation is a major reason that is increasing competition in all business industries like transportation, manufacturing and so on. The increasing market competition influences a huge impact on your destination and its profit margins. In this type of situation, it becomes important for a marketing manager to perform their roles and responsibilities in an appropriate manner so that the organisation can accomplish its desired results without any problem. For surviving in the marketing environment, it is essential for a marketing manager to analyse the market trends and customer needs on a continuous basis so that he can provide better satisfaction to business customers (Feng, Morgan and Rego, 2015).

There are different marketing roles such as management of the business brand, promotion, advertisement and market research which are performed by a marketing manager so that organisation can accomplish competitiveness over market contenders.

M2 Analyse the significance of interrelationships between marketing and other functional units of an organisation.

Marketing is considered as that business function which coordinates with other functional units of your destination so that desired business goals and objectives can be achieved in a proper manner. Some most important functional units of your destination are production, research & development, production etc. The marketing section coordinates with other functional units so that they can operate business activities in most effective manner. For instance, while making marketing budget business manager has to coordinate with the finance manager so that financial resources can be allocated in an appropriate manner (Germann, Ebbes and Grewal, 2015). Apart from this, the marketing section collects about new customer needs and market trends so that production section can produce products or services as per customer preferences. All these practices influence positive impact on business growth and also help your destination in achieving its predetermined goal as well as objectives.

D1 Critically analyse and evaluate the key elements of the marketing function and how they interrelate with other functional units of an organisation

As per the observation of Baker (2014), marketing is that essential function of business enterprise which helps it in promoting business products and services so that maximum number of the customer will get attracted towards it. There are two major components of marketing which are product development and market research. On the basis of conducted research, marketing team collects informative data regarding market trends and customer needs which should be implemented in production function for the better product or service development. In the present time, customer likes to shift to those companies which cooperate with latest market trends. The best feature of above-mentioned components is that they interrelate with each other. For example, market research helps R&D team in determining the market requirements so that necessary changes can be made in the production process and organisation can produce high-quality business products or services for its target customers.

P3 Compare the ways in which different organisation apply the marketing mix to the marketing planning process to achieve business objectives.

The marketing mix is that business concept which helps the business entity in achieving its desired results in an appropriate manner. There are seven marketing mix elements which are applied by both the destinations such as your destination and National express but in some different ways.

M3 Evaluate different tactics applied by organisations to demonstrate how business objectives can be achieved

The most important tactics of the marketing mix are product, price, promotion, place, physical evidence, process, and people. By focusing on these components, your destination can lead to a high level of success and growth. The product elements help the organisation in determining which kind of services customer wants and how they can satisfy their needs. Apart from this, product’s price and promotion activities help the organisation in attracting a huge number of customers which mainly increases business profitability as well as productivity.

Moreover, by focusing more on people and process elements business enterprise can strengthen its position within the competitive marketplace (Germann, Ebbes and Grewal, 2015). The physical evidence of organisation makes it different from other industry rivalries. Hence, it can be said that marketing mix elements help your destination in accomplishing its desired results.

P4 Produce and evaluate a basic marketing plan for an organisation. (M4, D2)

In the present time, ‘Your destination’ wants to build a successful marketing plan which will help it in expanding its business in other regions as well. Different components of the complete marketing plan are followed as under:

Executive summary: The marketing plan can be referred to as blueprint of an organisation which provides right direction to the organisation so it can achieve its desired goals in a proper manner. Current marketing plan would be a focus on your destination for its market expansion.

Company Overview: Your destination has recently completed its 3 years of success. This organisation is specialised in providing transportation services (Westwood, 2013). But for surviving in a competitive marketplace it wants to expand its business in Manchester, Glasgow and another area for which it needs to design to marketing plan which will include the situation analysis, STP analysis, marketing mix elements, and marketing budget.

Situation analysis: Before making a business plan, it is important for your destination to analyse both internal as well as an external business environment which can be determined by below mentioned analytical tools (Wrenn and Mansfield, 2014).

PEST analysis: This business tool helps in analysing the external factors which are mentioned below:

Political factors: The changing taxation policies, legal rules, and regulation come under this section. Before expanding business in new areas your destination needs to identify the political stability of those areas.

Economic factors: For having better growth, the organisation needs to analyse the income level of people so that it can provide its services on affordable prices.

Technological factors: With the help of advanced business technologies like social media and other digital platforms organisation can attract a huge number of customers (Paley, 2017).

Social factors: Consideration of social needs and cultural values helps organisation in leading a high level of success.

SWOT analysis: This business analysis tool provides information about the internal environment of the organisation.

On the basis of PEST and SWOT analysis, the organisation has determined that there is intense competition in the market for which it needs to develop new market objectives and set segmentation, targeting and positioning strategies (Lamb and Crompton, 2017).

Marketing objectives: The major objectives of your destination are followed as under:

• To expand business activities into new locations
• To increase market share by 2% within 2 years
• To provide better customer satisfaction

STP analysi s: With the help of this business analysis tool your destination can set successful segmentation, positioning and targeting strategies which are followed as under:

Marketing tactics: There are seven most important market mix elements which are applied by your destination for having better growth, these are followed as under:

(Figure 2 : Marketing mix elements)

(Source: Marketingmix.com, 2015)

Product: The most important product of your destination will be its high-quality transportation services across the nation along with basic facilities.

Price: The price range of your destination will start from 200 Euro so that people with all backgrounds can afford its services.

Place: For having better growth and competing with market competitors, the organisation will provide nationwide transportation services.

Promotion: For attracting a larger number of people, the organisation will take help of social media platforms which are cost effective also.

People: The major focus on the organisation will be on its employees because without human resources it cannot perform its business functions.

Process: The activities and practices of the organisation will be operated in a systematic manner so that the organisation can accomplish its desired goals.

Physical evidence: The high satisfied employees and customer will work as physical evidence for your destination.

Marketing budget and control: For executing the above-mentioned marketing plan, it is highly essential for your destination to set market budget. Without the help of enough financial resources, your destination can never accomplish its desired marketing goals (Lamb and Crompton, 2017). For the successful execution of marketing, plan organisation has decided to set a marketing budget of 100000 Euro. For controlling the budget, the organisation will take help of cost-benefit analysis as well as rating scales which will help in increasing the efficiency and effectiveness of the marketing plan.

Conclusion: Thus, it has been concluded that with the help of effective planning and procedures, your destination can build a successful marketing plan and also can accomplish its desired goals in an appropriate manner. The situation analysis and STP analysis are major business tools which contribute to the success of a marketing plan.

By summering above mentioned discussion, it has been concluded that marketing is a most vital function of the business enterprise as it helps entity in promoting as well as advertising its business image in the competitive marketplace. There are different marketing roles and responsibilities like market research, brand management, promotion, advertisement, product development and so on. By fulfilling these roles marketing manage can contribute a lot in accomplishing business objectives as marketing corporate with all business functions for better organisational growth. The marketing mix is a most important concept which should be followed by your destination for accomplishing competitive advantage in the marketplace. National Express is the biggest market competitor of your destination but with the use of marketing mix elements in an effective manner, your destination can increase its customer line as well as market shares. Apart from this, a business enterprise can take help of a coherent marketing plan for achieving its marketing objectives in most effective as well as in a systematic manner.

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