Marketing Essentials in respect of TK-MAX

University: UK College of Business and Computing

  • Unit No: 3
  • Level: Undergraduate/College
  • Pages: 8
  • Words: 2000
  • Paper Type: Assignment
  • Course Code:

    M/508/9862

  • Country: UK
  • Downloads: 0
Question :

The purpose of this report is to analyse the role of marketing within an organisation as well as its contribution in earn desired profitability by selling organisational products and services effectively. The effectiveness of marketing within an organisation is promote organisational products and services. Further analysis of this:

  • Analyse the role of marketing as well as its interconnection with other functional departments of TK-MAX.
  • Determine a comparison between different organisation by implementing elements of marketing mix.
  • Discuss a strategic marketing plan of TK-MAX.
Answer :
Organization Selected : TK Max

INTRODUCTION

In modern scenario, marketing is one of an effective tool which is being utilised by an organisation in order to complete the mission and its objectives effectively. Moreover, there are various kind of products and services which are being formulated and sold by company and that can be done by spreading awareness among customers (Berkowitz, 2016). That awareness is what we say marketing. Company chosen in this report is TK-MAX which is retail sector company dealing in various kind of products like utensils, beauty products and many more. There are various things which will be discussed within this report like role of marketing which is interrelated with one another for functional unit. Along with this, elements of the marketing mix which will be utilised  within company.

TASK 1

There are various kind of ways which can mainly be distinguished in regarding with the idea of promoting into the comprehended administration of the company for conducting operations and   along with tasks and activities in effectual manner (7 Functions of Marketing, 2017). Manager of the TK-MAX has duty for promoting the roles which are being described below:  

  • Selling: This kind of factor can be utilised by the TK-MAX in order to bring improvisation within the profit ratios and connectivity to more customers. This kind of factor can be utilised and facilitated to every kind of buyer so that objectives cane be attained within selling process.
  • Promotion: There are various kind of promotional activities which are being conducted by the company with purpose of creating awareness about the products that TK-MAX is selling (Brassington and Pettitt, 2013). Better level of activities can be conducted by company so that process can be effective and result oriented.  
  • Pricing: This kind of factor is highly essential for any kind of company who is dealing in marketplace. Being a Retail company, it becomes necessary for the company to have high level of pricing strategy so that attention of the customers can be drawn and company can have better level of competitive advantage. 
  • Product or service management: In this kind of factor, it becomes necessary for the manager of the TK-MAX to determine the market and thus bring changes within the products or services as per needs and wants of customers. It is also very important for them to have high quality within services and products. 
  • Distribution management: This kind of factor mainly emphasise their level of focus upon  the channels of distribution in which supply and demand factors meet. TK-MAX mainly have distributors, wholesalers, retailers and many more which are being indulged in process of distribution with customers (Cavusgil and et. al., 2014). This helps them to meet the demands and supply in better way.
  • Marketing Information management: It is in like manner a basic bit of the advancing chief. In this, they coordinate research and perceive needs and needs of customers. It is also to a great degree fundamental remembering the true objective to inspect the present examples of market.
  • Financing: This kind of factor mainly provides help in running the business operations in successful manner and thus for that, activities can be performed in better and effective manner (Cooper, 2013). Conducting operations and activities needs finance and funds which TK-MAX can mainly provide for better results.

Marketing can be stated as an essential function which every kind of business mainly applies for accomplishing the objectives in better and effective manner. There are multiple kind of sectors which are being operated by company and thus they are working for one common goal which is attaining success. There are sectors which mainly includes the finance, human resource along with operations and marketing and many more. This can improve the various kind of aspects for TK-MAX which are described below:

Marketing and Human resource management: Crucial role is mainly played by the HR and that is enrolling and recruiting the candidates who are able to meet up the expected criteria.  Human resource sector mainly provides the employees who attain the functions of marketing and thus create the awareness in effectual manner (Jones and Rowley, 2011). Supervision of the showcasing will mainly helps out in assuming the the indispensable part which can help in giving support in correspondence funnels.        

Marketing and Information Technology: For the accomplishment and progression of association, IT office accept an indispensable part for them. They characterize new plans for playing out all activities and plans of association in a masterminded and convincing way. TK- Max is focussed on applying advanced and inventive development to get a high bit of the general business. A statistical surveying is led by directors for perceiving the necessities and requirements of customers which isn't possible without advancing

Marketing and sales department: Principle obligation of offers managers is to give better quality items to their customers at sensible cost. In this they offer various things, for instance, magnificence items, furniture, garments, utensils, and so forth to their clients in powerful costs (Malhotra, Birks and Wills, 2013). Along these lines, all customers are fulfilled and purchase differing things in mass, with the objective that yield of this is extended arrangements and higher profitability. So both are associated together with the aim of achieving wanted objectives and targets of the association.

Marketing and Finance department: These kind of business is highly essential which is the part of company and thus they have the duty of performing day to day activities. Without any kind of marketing, funds can not be assembled by company and thus internal and external factors are mainly analysed by managers. 

Marketing and operations department: This kind of sector is mainly attached with the level of production and products and services. Operations sector mainly works as per the demand  and desires of the clients who are present within marketplace (Shaw and Director, 2012). Data collected by the marketing team is being given to operations so that appropriate modifications can be made. This way high level of satisfaction will be provided.  

Marketing and Research and development department:  When the product is  being introduced by the company by every kind of sector who plays crucial role. Market survey is being conducted by research and development and thus it can mainly be determined for availing the knowledge regarding needs of consumers and preferences within feedbacks (Silver and et. al., 2012). Appropriate tools are being analysed by the marketing manager within the product.

TASK 2 

There are number of organizations who are managing inside commercial centre has basically centred upon the setting up the objectives to bring supportability inside the market for drawn out stretch of time. This thusly should for the most part be possible by achieving the goals alongside different sort of apparatuses and systems for achieving the destinations. Showcasing blend can be expressed as one of the successful began demonstrate for the promoting which can give out the office for a powerful position inside commercial centre and that too for drawn out stretch of time (Mihart, 2012). Different sort of methods are available inside market which is being embraced by the organization for mark advancement alongside certain sort of items inside the commercial centre.

TK-MAX which is a retail sector company and thus has been mainly dealing with various kind of products and thus they have the effective brand value which is good in marketplace and thus has effective level of competition. Major competitor of this kind of company is Cocosa who deals in similar kind of products which in turn can mainly make an impact upon the company along with many of the systems while considering it in effectual manner (Marketing Mix. 2016). Showcasing blend can be advanced by the organization and hence business can primarily receives the specific sort of devices and systems with the thought process of assessing and inspiring the brand picture and generosity by thinking about different setting of various record.

Basis

Meaning

TK-MAX

COCOSA

Product

Multiple kind of offers are mainly formulated by the company. Main motive of this kind of factor is fulfilling the wants and desires of the clients in better and effectual manner (Papasolomou and Melanthiou, 2012). Physical product which is being sold by the retail sector company. 

The organization offers clothing, toys, shoes, embellishments, shower materials and excellence and home items including kitchen utensils and furniture. Firm offer quality items to their clients

This can be stated as one of the main competitor of TK MAX and sells similar kind of products. High quality products are being sold at the effectual prices which in turn aid in giving out better kind of services. 

Price

Company mainly focuses upon this kind of factor as this has huge impact upon the selling and production of company. Along with this, it also helps out in drawing the attention of customers.  Certain level of price is mainly set including the profit margin which can vary from time to time.

There is the price which is being set by the company of the various kind of products. They mainly set out the reasonable prices which in turn can mainly uplift the brand value and attract customers. 

There are multiple types of products which this company mainly sells out at lower prices. Along with this, they have mainly aimed for middle class groups.

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