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Marketing Mix & Plan of ASOS Plc

University: REGENT COLLEGE LONDON

  • Unit No: 2
  • Level: Undergraduate/College
  • Pages: 21 / Words 5315
  • Paper Type: Assignment
  • Course Code: MARK 1800
  • Downloads: 15
Question :

This assessment will cover certain questions are like - 

  1. What are the role of marketing and also give the interrelation and the functional units for ASOS Plc
  2. Give all the elements of marketing mix.
  3. Provide an appropriate marketing plan of ASOS Plc.

 

Answer :

INTRODUCTION

Marketing is one the of the most crucial part of the company as it help in increasing  sales and profits of the business ((Baines, Fill and Page, 2013). This is considered as an essential function of organisation as it lead to attracting more buyers towards business. Marketing function will have direct impact over development of business as it help in performing business activities in more effective and efficient manner. It is important for company to perform all task and activities of marketing function in more effectual way. There are different functions of marketing which is helpful in overall growth and development of business. This company chosen for this report is ASOS Plc. This company is dealing in clothing industry as well as online shopping sector. ASOS Plc company was established in 2000 and its headquarter is located in London, England, United Kingdom.

This company is providing different type of product and services to large market area of the world and its product line includes ready made fashionable products. Its key products are clothes, shoes, trending accessories and different types of beauty products.  ASOS Plc company is developing products as per the need and want of customers as well as offering top quality branded fashionable products. This report includes different roles and responsibilities of marketing function towards business which will be helpful for company to achieve its goal and objectives. It also consist of interrelation of marketing role and responsibilities with other functions of organisation. In this report marketing mix of two different organisation is conduct in order to evaluate and analyse marketing plan of each organisation. Apart from this a proper marketing plan is developed which will help achieving set goals and objectives. This marketing plan consist of series of steps that will lead to performing each and every task in correct manner.

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MAIN BODY

TASK 1

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

Marketing refers to the all those activities that is undertaken by company in order to promote its product and services. This is an effective function of organisation as it helps in performing organisation activities in more effectual way  (Baker and Magnin, 2016). Marketing function can be describe as set of activities that includes advertising, selling as well as delivering manufactured products to different market area.  It comprises of analysing market environment in order to offer product and services which will help in meeting with the preferences of customers. There are different role and responsibilities of marketing function of ASOS Plc company which is helpful in gain competitive edge over other rival companies. Marketing function of respective company is developing strong and positive image in market and leads to perform promotion activities in more effective and efficient manner. This leads to create strong relationship with targeted functions .Marketing function is a role that helps an organisation to analyse and source successful product for the market place.  ASOS Plc company marketing role and responsibilities is to analyse market trends as well as requirement of customers, setting right price and promoting manufactured products and services in more effective manner. There are different roles and responsibilities of marketing functions which are describe below in respect of  ASOS Plc company :

Meet consumers' needs and wants – Customers at all levels have different needs and wants. Marketers' roles is to understand what the customers' needs and wants are and plan their marketing strategies accordingly in order to attract more customers and in turn increase the sales. It is the prior step a company needs to take. It is necessary to analyse needs and wants of customers (Boschetti and Massaron, 2015). For doing so, they must gather information and then analyse it.  They influence customers shaped by their cultures and individual personalities, thereby satisfying their demands. In contrast with Asos plc., the company conducts regular surveys and campaigns in order to understand its customers demands and what expectations do they have from their products and hence tries to meet consumers' demands fully by offering products that are up to the level of their expectations. Awareness of the products and the company is created and inputs are provided that in turn create interest among the audience by brining in fresh customers, engaging them and hence creating new business opportunities for Asos.

Organizational growth and reputation – The survival and growth of an organization depends upon its customer base and and increase in its market share. The marketing function in a company helps companies retain their customers and achieve their objectives by satisfying their customers' demands. Asos continuously works towards achieving the objectives and goals set by the management so ensure the growth of the company and maintain its reputation in the industry. The company's marketing function plays a key role in influencing the level of demand. A demand can either be positive or negative, latent or declining, therefore the marketing function in Asos plc. deals with the varied levels of demands posed by the customers and hence help the organization to grow.

Expand market – The marketing function in a company uses different tools and ways to expand in the market such as advertising, promotions, campaigns, event marketing etc. Today technological advancements have made interaction with customers easy and more interactive  (Eng, 2017). The company majorly depends upon its marketing function to carry out various promotional and advertising activities so that the company holds a position in the customers' minds and hence there is expansion of the company in the market with various marketing techniques used from tie to time. Marketing helps create demand, thereby increasing the production and distribution activities. As a result the industrial growth raises and income levels improve due increased employment.

Improved product offerings – Most companies today offer a wide range of products under their product lines. Marketing function in an organization ensures that the packaging of the products is attractive and appeals the customers. The products should be well packed and labelled accordingly. Asos strives on producing products with improved features and keeping in mind various aspects of product manufacturing and that the products have utility ensuring that the products are available at the right time to the right people and at the right place. The marketing function closely monitors the competition faced by Asos and helps maintain a balance a balance of customers' expectations and what products are offered by the competitors.

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

Organisation can be describe as a set of different functions as well as people which is working with their full capabilities and potential so that desired aims could be timely achieves. It consist of different functions and department which is helpful in perform task in more correct manner(Halpern and Graham, 2013). It is very important for  ASOS Plc company to interrelate it business functions  with other department so that they can achieve desired goals. When each and every function of respective company is performing activities and task in correct manner than only set targets will be successful meet. Major functions of ASOS Plc organisation consist of human resource, marketing, finance, sales and many more. It is essential for marketing function to interrelate their activities with other department as well as their activities. This will aid in performing business task in more better manner. By interrelation of different function performance of ASOS Plc company will be enhanced and improved. This will help in meeting the expectation of  ASOS Plc by interrelating roles and responsibilities of marketing with other departments of the respective company.

Human resource with marketing department – Human resource department can be define as a function of organisation which leads to find and attract more capable employees towards organisation. This function of organisation is majorly related to recruitment and selection of capable employees as well as provide training to them. Marketing function of   ASOS Plc company will be only able to perform its task in correct manner when it has highly skilled employees. This will aid in enhancing overall performance as well as conducting marketing function in correct manner. For this marketing department of respective company needs to provide their requirement and demand which needs to be full fill by new employee. It is role of human resource department to find and hire those employees which is able to meet with the expectations of marketing department. In this marketing team needs to advertise as well as promote requirement of highly skilled employee for  ASOS Plc company.  Interrelation of marketing team and human resource.

Marketing with Finance department – Marketing department is majorly related to the activities of identifying new trends in market. This will be very helpful in understanding current and emerging trend in market as well as promoting products of organisation in effective manner. For promoting and advertising products and services of ASOS Plc company they needs to use huge financial resource (Kongstvedt, 2013). Finance department of respective company role is to clearly identify as well as analyse the requirement of financial resources in effective way. There are different types of financial resources and other asset are required by marketing department to conduct its promotional activities in market department. In this finance team is allocating certain amount of money and financial resources in order to provide budgets to marketing department. In this role and responsibilities of marketing function is to analyse market environment and find out new or emerging trends which will help in performing daily activities of finance department in better manner. 

TASK 2

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

There are different ways though which respective company can improve its marketing activities and perform business functions in effective and efficient manner. Marketing mix can be define as a tool which will help in taking better business decision as well as performing task in better ways. This tool will provide aid to organisation by comprising right product at right place with right strategies. It is very important for  ASOS Plc company to develop right product as well as offer effective services to customers which leads to satisfy their needs and wants. Marketing mix refers to the  set of action that could be used by organisation in order to promote brand and its products in targeted market area (Malhotra, 2015). This consist of major 7  P's  that stands for product, price, place, promotion, people, process as well as physical evidence. It is essential for   ASOS Plc company to identify as well as evaluate all of these 7 P's in correct manner as well as develop better strategies. Comparison of 7 P's with competitors which help in identifying actual performance of company and help in better understanding of market area. Difference between marketing mix of ASOS Plc company and Next Plc is mention below in order to analyse marketing planning process of both organisation which support in achieving business objectives.

Basis

ASOS Plc company

Next Plc company

Product

Product refers to any substance which is sell by company in order to earn more products. ASOS Plc company is dealing in online shopping market area as well as providing different products which are related to ready to wear clothing products as well as range of cosmetics. This company is selling its products in five major categorise and this includes separate product line.  It is offering clothing products, shoes, footwear, cosmetics and accessories. 

This includes all those products that is developed by company. Next Plc is a well known brand it is manufacturing different types of products. This company is developing unique design  clothing and other fashionable products with high quality in order to satisfy  needs and wants of customers. This is very helpful in full filling market requirement by producing quality products.

Price

Price refers to the amount that is charged by company in exchange of their product and  services. ASOS Plc company is setting price as per the price set by competitors (Malhotra, Birks and Wills, 2013). This company is offering its products as per competitive prices based strategies. This company is analysing prices set by its rival company as then setting prices of its products in order to gain competitive advantage over other rival companies.

Pricing strategies of respective company is cost effective. This company is manufacturing high quality products and offering these product to price rate which lead to gain some profit. This strategies will help in recovering the price of product as well as earning profits for business. Next Plc company is considering skimming strategies in its business process.

Place

It is very important for this company to sell its manufactured products to set market area. In this company needs to increase it distribution channel. This will help in delivery of right type of product at right time. This will help in meeting with the exceptions of customers.  ASOS Plc company is placing its products by new and creative way. This is an online company and it is offering its products through digital market area. This has attractive online websites and this is helpful in providing 24*7 services to customers.

Next Plc company needs to deliver its manufactured products to targeted customers. There are different  ways through which company can place its products in different market area. Respective company is delivering its manufactured products to wholesaler and they are placing it to different retailer. This is helpful in placing right product at right place (Nirschl and Steinberg, 2018). This company is also considering online selling of product and in  this customer can select their product from website.

Promotion

Promotion refers to communication of product features in market area in order to attract customers. This is one of the crucial process of company and it will have direct impact over sales and profits of the ASOS Plc company. This company is using modern tools and techniques to promote its product in market area. For this it is using attractive advertisement in its websites and mobile application. They are continuously updated their potential customers about discounts and offering.

There are different ways that could be used by company in order to promote its product in market area. This is a well known brand and it has strong relationship with customers. This company is using new and innovative ways to promote and advertise its product in market area. This techniques is very help in attracting as well as influencing more customers to purchase the products of respective company.

People

People are considered as employees who are working with their full capabilities and potential to achieve set goals and objective of company. This is a web based company which is operating its business functions digitally.  ASOS Plc company has less number of employees as compare to brick and mortar companies  (Pike, 2016). This company is hiring highly skilled and talented employees who are well aware about web based organisation as well as digital company. Its employees play a crucial role in performing business functions in better manner.

Next Plc company is considering its employees as the most important asset of the company. This company is providing timely training to its employees in order to improve their work performance as well as productivity. Training and development program is very helpful in improving skills and capabilities of employees. This help in achieving set goals and objectives. People of Next plc company are developing strong strategies which leads to achieving or earning more profits.

Process

It refers to the business process in which company is conducting its business activities. It is very important for company to choose better business process which will be helpful in performing business activities as well as  achieving set goals.  ASOS Plc company is using digital business process and it is not offering its product and services in any retail store. This business process of  ASOS Plc company will help in help in providing 24 * 7 services to potential customers.

Next Plc company is using new and effective process for its business and it is perform  business task in effective manner. This company is developing clothing products as well as other fashionable accessories with good quality of raw material. This is helpful in developing high quality of fashionable products. This business process will help in meeting with the expectations of customers. 

Physical evidence

Physical evidence of company can be considerer as its websites. This is an online company which is offering its products through digital market. It is very important for this company to develop creative and attractive website that is helpful in attracting more and more customers towards business as well as offering better quality products. ASOS website and mobile application is its major physical evidence which help in dealing with comparative advantages. 

This company has developed its positive image in market and this could be considered as the physical evidence of the company  (Puddle, 2015). This is a well known company which is recognised for its high quality product and services.  Physical evidence refers to all those elements which help in satisfying requirement of company.

 

TASK 3

Produce and evaluate a basic marketing plan for an organisation.

Marketing plan: A market plan reviews the marketing strategy for the new year, quarter or the month typically including a brief overview of the business's marketing and advertising goals describing the current marketing position of the company, a timeline of when will the tasks listed in the strategy be completed, the key performance indicators the company will be tracking and a description of the its target market and customer needs. There should always be a situation analysis, marketing strategy and an expense budget in the plan always depending on a strategy framework outlining the marketing activities on a monthly basis.

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SWOT Analysis -

Situation analysis can be referred to as a systematic collection of the past as well as present strengths, weaknesses, opportunities and threats which is used by the managers in a company to identify their impact on the company's choice of strategies and overall performance (Purvis, 2015).

The strengths and weaknesses are the internal factors and opportunities and threats are the external factors that can affect the working of an organization.

Strengths – Asos has a good brand image because of its continuous involvement towards community. The brand derives benefits from its main focus on retaining customers and a strong brand collection. Asos also works constantly towards refining its supply chain and offering a variety of products.

Weaknesses – Asos has a weak country adaptation, and not known by many people with a primary focus on only one segment. The brand is over dependent on the Britain market with absolutely no stores and duplication of products by third party. It needs to invest more in technology in order to improve its customers' experience.

Opportunities – The constant new trends in the fashion industry and changing consumer behaviour can open new markets for Asos. The increasing demand can allow them to obtain approx 7000 new products every week. Using the data from social media , blogs and websites and analysing the same will help Asos in improving its customer base.

Threats – Asos should work on its marketing process in terms of positioning and unique selling ideas. With these not defined well, the competitors can take advantage. There are retailers larger than Asos already existing in the market and can pose a serious threat to the brand in terms of brand recognition and brand image. There are new brands entering the market offering high quality products at lower prices targetting various countries with distinct cultures.

Objective -

Objective refers to the set aim and goals of the business. It is very important for respective company to work in effective and efficient manner so that desired goals and objectives  could be timely achieved. ASOS company will have to develop SMART objectives as it includes specific, measurable, achievable, relevant as well as time oriented (Simkin and Dibb, 2013). So that object company be successful achieved and meet with the requirement of the company. Objective of ASOS company for this marketing plan is mention below.

  • To establish physical store in London market area in order to increase customer bases by 25 % within 6 months.
  • To increase its sales within 4 months in order to enhance 30 % profits.

Strategies Analysis

Once goals and objective is set as well as internal or external environment is analysed properly. Respective company needs to focus on developing effective and efficient business strategies. In order to develop accurate business strategies ASOS company needs to use STP analyse. This is considered as an effective tool for identifying targeted market segment as well as positioning product.

  • Segmentation: Segmentation refers to the dividing market area into sub parts. This will help in analysing selected market area and for ASOS company this is segmentation market area on the bases of geographical location. It is focusing on area in which it is establishing physical store.
  • Targeting: In this set company needs to select the most suitable and potential customers. This will help in targeting customers which will help in meeting with the set objective. This company is targeting customers of London market area.
  • Positioning: Positioning refers to the creating positive image in customers mind in order to attract more and more customers towards (Stern and Porr, 2017). This company is positioning its physical store and product as a high quality products with in less prices.

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Action Plan

This include actual implementation of a plan in order to achieve desired goals. Action plan will be evaluated by marketing mix. Marketing mix for repetitive marketing plan is mention below.

  • Product: This includes all of those products which is offered by ASOS company in order to achieve set goals. It is offering high quality clothing and other fashionable products.
  • Price: This company is considering prices of competitors product in order to set more suitable prices of its  product.
  • Place: This company is launching new physical store in market area of London. In this customer can directly visit store and purchase product.
  • Promotion: In this respective company is using both modern as well as tradition sources of promotion. This company is using new paper advertisements, digital media marketing, public relationship and many more.

Forecast

MARKETING BUDGET

PARTICULARS

I Year

II Year

III Year

IV Year

V Year

Initial amount

3000

7500

11500

15660

15540

Investing

8500

9000

20000

28000

13500

TOTAL

11500

16500

31500

18460

29040

 

MARKETING OUTLAY

Promotion

5000

2850

3050

3560

3000

Sales advertisements

2000

1800

3000

1500

1100

Direct selling

3500

1600

4500

2500

4600

 TOTAL

10500

6250

10550

7560

8700

 

Controls -

Once the marketing plan is developed, the company should adopt control measures in order to evaluate and monitor the overall performance of the company. In order to achieve objectives and goals set by the company, the management can set targets for the employees so as to ensure a proper and smooth functioning of all the departments in the organization (Wilson, 2014). This will also help the managers to compare the actual progress of the employees against the set standards. There are a number of approaches that can be followed such as setting targets, use of quality controls, budgets, ratio analysis, conducting market research etc.

CONCLUSION

From the above report it can be concluded that marketing is one of the essential function of organisation as it directly help in improving the performance of organisation. Marketing function will work to attract more and more customer towards business by promoting or advertising business produce in more attractive manner. It is very important for organisation to interrelate other functions of organisation with marketing department so that they can work in effective and efficient manner. Marketing mix is a crucial tool for business as it helps in creating better and strong business strategies. It is essential for company to follow all stages in order to meet with the objective of marketing plan.

You may also check more samples on marketing essentials - 

Report On Marketing Planning And Analysis

Prepare An Effective Marketing Plan For Tesco

Highly Effective Marketing Plan – Catapulting Your Business Towards Assured Success

REFERENCES

  • Baines, P., Fill, C. and Page, K., 2013.Essentials of marketing. Oxford University Press.
  • Boschetti, A. and Massaron, L., 2015.Python data science essentials. Packt Publishing Ltd.
  • Eng, P., 2017. Erste Schritte im Online-Marketing.Suchmaschinen-Content-Soziale Medien, Wiesbaden.
  • Halpern, N. and Graham, A., 2013.Airport marketing. Routledge.
  • Kongstvedt, P.R., 2013.Essentials of managed health care. Jones & Bartlett Publishers.
  • Malhotra, N.K., 2015.Essentials of marketing research: A hands-on orientation. Essex: Pearson.
  • Nirschl, M. and Steinberg, L., 2018.Einstieg in das influencer marketing: grundlagen, strategien und erfolgsfaktoren. Springer Gabler.
  • Puddle, T., 2015. Marketing essentials for veterinary practices.In Practice. 37(5). pp.259-261.
  • Simkin, L. and Dibb, S., 2013.Marketing essentials. Cengage Learning EMEA.
  • Wilson, J., 2014.Essentials of business research: A guide to doing your research project. Sage.
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