There are the following questions that need to be completed by the student for achieving the assessment.
- Analyse the role of marketing & its relationship with other business units of the company.
- Explain the ways organisations should use 7p's of marketing for attaining their business objectives.
- Make and analyse a basic marketing plan.
INTRODUCTION
Marketing is a business term playing a crucial role in success or failure of any of any firm. It is basically a management process which is responsible for identifying, anticipating, meeting and satisfying consumer needs and requirements for increasing profitability of organisation (Arendt and Allain, 2019). The various activities included in marketing process are creating, developing, communicating, transferring and exchanging offerings and items that have value for clients, customers and other related parties. The organisations selected for this assignment is Sainsbury which is a one of the largest supermarket in UK having its headquarter in London, UK. In this report a detailed discussion about role and responsibility of marketing manager is included. Beside this interrelation of marketing with other functional unit is also there in this assignment. Further, the ways in which organisation apply different elements of 7P's of marketing mix are compared. Beside this, it also consists a basic and strategic marketing plan to meet the goals and objectives.
PART 1
P1) Key roles and responsibilities of the marketing function.
Marketing Process
It is basically shows the series of step that allow an organisation to evaluate and identify customer problems and desires, analyse market opportunities and create marketing materials to achieve the desired goals (Lippold, 2019). The marketing process of Sainsbury is described below with all the steps to counter and garb the target audience.
(Figure 1: Marketing process, 2020)
(Source: Marketing process, 2020)
Mission – The mission of Sainsbury company is to have an effective marketing strategy that is mainly based on use of digital platforms to attract larger number of customers.
Situation analysis- Under this step efforts are made by Sainsbury to analysis the gap between what consumers want and what they are offering to them, thus situation analysis provide an opportunity to have a better understanding about customer needs so that product or service can be offered to satisfy those needs and desire of consumer (Makhitha, 2019).
Marketing strategy- After analysis of customers needs the next process of marketing of Sainsbury is identifying a strategic plan for pursuing or grabbing the opportunity. This include proper segmentation, targeting and positing of a right product to provide values proposition to target market.
Marketing mix decisions- Under this step of marketing process detail tactical decisions are made by managers of Sainsbury for controlling the different parameters of marketing mix like product development, pricing decisions, place, promotion, etc.
Implementation and control- The last step of marketing process of Sainsbury where all the decided plans and strategies are implemented and executed with grate efficiency. The results and outcomes are closely monitored to have a control on flaws and adverse situation (Arendt and Allain, 2019).
Role and responsibility of marketing manager
Marketing manager is an individual who is the main in charge of marketing department and controls all the promotional and market study and activities of an organisation. The marketing manager of Sainsbury is responsible for developing, implementing and executing an effective strategic marketing plan for whole organisation to attract and maximize the numbers of potential customers and also maintain and retain the existing and current customers. . The main responsibility and key role of marketing manager of Sainsbury organisations is provided below:
Timely market research- It is one of the key responsibility of marketing manger to conduct timely market research to properly analysis the current scenarios and existing marketing conditions. As marketing environment is highly dynamic so that it become necessary for a marketing manger to conduct regular marting research. Marketing manager of Sainsbury plays an important role in analysing and determining the current opportunity and threats that are prevailing in the market so that best possible efforts and steps can be taken to garb and prevail that opportunity (Campbell, Martin and Fabos, 2018). Timely market research makes a marketing manger aware about what is current demand and trend of the market and what changes are going on in taste and preference of customers so that desired modification can be made in product or services.
Formulation and implementation of marketing strategy- Other important reasonability of Marketing manager is formulation and designing of an effective marketing strategy which should be well coordinated and parallel to overall goals and objective of an organisation. With the proper analysis of data collected through market research, best strategies and plans are formulated by marketing manager of Sainsbury so that the prevailing opportunity cab be grabbed and at the same time efforts are also made to reduce the threat of prevailing consequences and issues in the market. The marketing strategy and tactics adopted by Sainsbury is also depends on activities of its competitors so that the strategy implemented should also provide better competitive strength and advantage in the market (Chatterjee and Chatterjee, 2019).
Product development- Marketing manager and team plays a vital role in product development through conveying and transferring all the relevant and required information about taste and preference of customers to production department so that a product or service can be designed or developed to fulfill the desire and demand of consumer. The market research which is conducted by mangers and marketing team of Sainsbury makes them awake about the current demand and preference of customers thus, they plays an important role in guiding production department about the latest trend of market. At the same time, pricing of product is also based on market and competitors analysis (Deepwell, Palmer and Greig, 2019). Thus, marketing manger of Sainsbury plays an important part in development of product.
Promotional strategy- In today's world promotion and adverting has become very essential to make customer aware about product and to have better market coverage than competitors. It is the responsibility of marketing manager of Sainsbury to create and develop an effective promotional strategy which includes a balance of online and offline mode of advertising. Use of social media platforms like Facebook, Instagram, twitter etc. are are made by Sainsbury to have a better interaction with and relationship with its target audience so that they can be attracted to make a purchase (Lippold, 2019). Thus, an important role is played by marketing manager and department in creating awareness about product and brands and also maintain an effective communication and relation with customers to earn better revenue.
P2) Roles and responsibilities of marketing relate to the wider organisational context
Marketing is necessary and important for an organisations but the desired objectives and goal cannot be achieved by efficient marketing alone thus, proper coordination and interrelation of marketing with other functional department is must (Makhitha, 2019). The interrelation and connection of marketing with other functional units of Sainsbury is provided below:
Marketing and finance
Finance department is one which is responsible and related with preparation of budgets and other accounting report to keep a check and control over expenses of organisation. In Sainsbury organisation an interrelation between marketing and finance department is exist as the amount required for marketing and promotional activity is provided by finance department and finance department also keep a check on expenses on marketing department so that wasteful and unwanted marketing activities can be eliminated (Arendt and Allain, 2019). In return, the efficient marketing and promotional activity increase sales and volume and provide better revenue finance department so that it can conduct its day to day operation easily. Thus, a coordination between marketing and finance ensure reduction in expenses and wasteful activity as well as also enhance revenue and income to ensure smooth functioning of organisation.
Marketing and production department
Production department is one which is related and associated with timely production and supply of product or services so that better satisfaction and experience can be provided to customer. A connection between production and marketing ensure that product deliver is in accordance with taste and preference of customers. In Sainsbury an interrelation and collaboration of marketing and production department has lead to timely supply of best quality product on the basis of timely market research thus, ensure better sales and profitability through grabbing attention of large number of customers (Campbell, Martin and Fabos, 2018).
Value and importance of marketing
The importance and value of marketing in context of a business organisation is increasing as the business environment and market is very dynamic in which continuous changes are going on. Thus, business firms need to have a complete knowledge about prevailing circumstances and tend of market which is done by marketing.Timely market research and analysis of current market scenario is a crucial role of marketing which keeps organisation and its strategies on track and well coordinated (Chatterjee and Chatterjee, 2019). At the same time marketing also creates awareness about brands and its product which enhance performance and profitability of organisations thus, marketing is necessary in context of success of overall organisation.
PART 2
Part A
P3) Marketing mix
Marketing mix is a tool that provides a set or combination of number of components and elements to strengthen and solidify image of a product or service to increase the sales and revenue of organisation (Campbell, Martin and Fabos, 2018). It provide a set of strategies for betterment of organisation. A comparison between different elements of marketing mix of Sainsbury and its competitor, Tesco is provided below to have a better understanding of strategies and tactics used by an organisation to achieve their business objective.
(Figure 2: 7P's of marketing mix, 2020)
(Source: 7P's of marketing mix, 2020)
\|
Elements of Marketing mix |
Sainsbury |
Tesco
|
|
Product |
It is a well known supermarket or retailer of UK. A wide range of product and services is provided by Sainsbury with more than 15000 own brand products (Marketing Mix: Sainsbury', 2019). The different products provided by Sainsbury includes meat, Fresh and bakery products, frozen food, baby products, drinks, health and beauty products, clothing, cleaning products, electronics, entertainment and many other. This organisation has recently taken over Arogs which has further increased its product portfolio. Sainsbury heavily invest on its brand and have earned good reputation for offering quality products(Deepwell, Palmer and Greig, 2019). |
A comprnsive range of product is offered by Tesco which includes, Clothing & jewellery, Technology & gaming products, Health &beauty, Home electrical appliance, Entertainment & books, Home appliances, Baby & toddler, Gardening products, Toys for kids, DIY and other Car accessories, etc.
|
|
Place |
The headquarter of Sainsbury is located in London, UK. It is having 598 supermarkets and 714 convenience stores out of which 45 stores operate 24/7and the rest of them are open till mid-night on Fridays. Beside this, a lot of orders are also received through online sites and phone. Apart from this facility of home delivery is also provided to customers to provide them maximum convenience. |
The headquarter of Tesco is in UK but is operating in mote than 11 countries of world with around 6900 stores. It are categorises into various group on the basis of their size i.e. Tesco metro, Tesco Express, Tesco Extra and Tesco Superstore (Chatterjee and Chatterjee, 2019). |
|
Price |
The pricing strategy of Sainsbury is based on providing the customers the actual value of money thus, maintains a balance between quality of product and its price. Sainsbury mainly makes use of competitive pricing policy to have a better stand in market. Use of price discrimination policy is also made by Sainsbury thus, some of its product are offered at premium price while some are priced very low like basic and kids product are low priced. |
Use of Cost leadership pricing strategy is made by Tesco to attract maximum number of customers. |
|
Promotions |
Use of ATL ( above the line) and BTL (below the line) promotional strategy is made by Sainsbury to garb the attention of customers and to build better brand image. Use of broadcast media like television, radio are made under ATL strategy while use of sales promotion, database marketing, etc. are made under BTL promotional strategy of Sainsbury. Use of Nectar reward card is also made by Sainsbury to maintain long term relation with its customers and to enhance its sales (Fairley, 2019). |
Tesco is having a strong brand image because of cost leadership in market. Use of television ads, hoardings, and discount offers like Tesco club card are made to increase sales and promotion of its product. |
|
People |
Sainsbury is having a well trained and expert employees who are having the capability of understanding the behaviours of consumer so that best product and service will be provided to satisfy the consumer. Recently a2 Craft skills Apprenticeshipis organised by Sainsbury to develop better employees and leader for its store manger. |
Tesco is selecting best talent for its organisation and diversity is also encouraged at Tesco to have better creativity and innovation in organisation. |
|
Process |
Facility of online shopping is provided to customers that provide a convenient click and collect service to its customers. Beside this a efficient distribution network is also there which includes specialist like DHL, NFT, thus Sainsbury is having a good distribution process. |
The distribution process of Tesco is very effective and maintain a good supply chain in around 11 countries of world. The service features , accessibility and capacity level of production process of Tesco is also very good. |
|
Physical evidence |
Sainsbury is having an excellent strategy to make its presence feel at market. Use of different store design and layouts are made by Sainsbury to garb attention of its customers. Best quality and convenient baskets and trolleys are also offered at stores which provide an excellent and long lasting shopping experience to its consumer. |
Authentic products are provided by Tesco to have a better image in minds of customers. The colours, logos and attractive labels are also creating better physical evidence for Tesco (Ganjre, 2019). |
PART B
P4) Marketing plan
It is basically is a comprehensive written plan that includes all the activities and tasks related with marketing and promotion of a project and also include various tactics and strategies for achievement of desired goals (Heidarzadeh Hanzaee, Sadeghian and Jalalian, 2019). Following market plan is created and developed by Sainsbury to have better product portfolio to give a tough competition to Tesco and all other competitors.
Overview
Sainsbury is the 3rd largest supermarket operating in UK and providing a range of product to its customers which include various frozen food products, beauty and health products, clothing, electronics, etc. But still it lag behind big retailers like Tesco thus, to enhance its productivity and gain better market share and revenue it is coming up with a new product in its portfolio. Sainsbury is planning to launch and coming up with a new segment or product i.e. a new range of stylish and comfortable furniture to attract more customers.
Vision
The vision statement of Sainsbury is, “ To become the most trusted retailer through bringing creativity and diversity at its workplace to ensure greater services to customers.”
Mission
The Sainsbury is having a mission, “ To become first and foremost choice of customers through delivering products of outstanding quality and providing great services at best possible prices”.
Objective
the main motto and target of Sainsbury behind launch of this new range of Furniture are:
- To increase the productivity of Sainsbury by 15% in coming one year.
- To increase sales and revenue of organisation by 10% in next 8 months.
STP model
Use of STP model is made by organisation to have a selection of most suitable and profitable target customers and also provide dreamwork for selection of better targeting ad positioning strategy (Malik and Sharma, 2019). Use of STP model is also made by Sainsbury to decide better strategies and target segment for its new range of furniture.
Segmentation- It is process through which an organisation divides a market into small chunks and segment so that needs of most suitable and viable audience can be fulfilled. Use of demographic segmentation is made by Sainsbury to divide its target audience on the basis of their income level and behaviour.
Targeting- Under this component of STP model most beneficial chunk or group of audience us targeting by organisation. The new furniture developed by Sainsbury is quite expensive and luxury thus, the targeted audience is rich and upper class families having big halls and rooms to get decorated and have stylish look with the furniture of Sainsbury.
Positioning- This element of STP model is focused on creating awareness and promotion of a new product (McCabe and Weaver, 2019). Use of variety of media like social media, internet, online websites , etc. are made to create awareness about its product and persuade customers for purchase of its furniture.
Budget
Following budget are prepared by Sainsbury to create, develop nad promte its new furniture:
|
MARKETING BUDGET (£) |
|||||
|
PARTICULARS |
Ist Year |
IInd Year |
IIIrd Year |
IVth Year |
Vth Year |
|
Initial money |
4000 |
7600 |
13300 |
15460 |
18870 |
|
Investment |
9600 |
10600 |
23840 |
31640 |
13760 |
|
TOTAL |
13600 |
18200 |
37140 |
47000 |
32530 |
|
MARKETING OUTLAY |
|||||
|
Promotion |
5646 |
2559 |
5693 |
2975 |
2111 |
|
Sales publicity |
1365 |
1000 |
2452 |
1492 |
1050 |
|
Direct selling |
2345 |
1900 |
4961 |
1300 |
4644 |
|
TOTAL |
9356 |
5459 |
13106 |
5767 |
7705 |
Controlling and Monitoring
For success of its product and to effectively launch its new furniture proper control and implementation measures are taken Sainsbury (Nirschl and Steinberg, 2018) Monitoring of each and every task ensure better performance of employees for timely completion of work and use of control measure by Sainsbury facilitates better quality of furniture through checking and keeping an eye on quality of raw material and other associated activities.
Strategic Market Plan by using 7P's
Following strategic marketing plan is made by Sainsbury through making use of marketing mix:
Product- Sainsbury is providing a new luxury range of furniture with stylish look and design.
Price- The anticipated price of furniture of Sainsbury is £600.
Place- This furniture will be available on all stores and supermarkets of Sainsbury and online order can also be placed (Okumus and Cetin, 2018).
Promotion- Use of aggressive and effective advertising and promotional techniques will be made by Sainsbury that includes posting pictures and video of furniture on social media .
People- Most talented, creative and skilled workforce is hired by Sainsbury.
Process- This new furniture will be produced through making use of automatic machine and CAD (computer aided design) technology.
Physical evidence- For creating physical evidence for its new furniture use of adversing and word of mouth will be made by Sainsbury.
CONCLUSION
From this assignment it can be concluded that marketing is an important function of an organisation which creates better image of product and brand in market. Many roles are performed by marketing like formulation of strategy, market research, promotion, etc. beside this it can be summarised that international between different functional units is necessary for achievement of desired goals. Further, conclusion can be made that marketing is an essential and vital part of an organisation which creates better promotion of product and lead to better brand image. Apart from this it can be concluded that use of marketing mix is made by organisation to have a set and combination of best tactics and strategies that can be used to enhance sale of product and earn better income and profit. At last, it can be summarised that market plan is an important document that provide guidance and framework for completion of a project.
UPTO50%
Avail The Benefit Today!
To View this & another 50000+ free
