Unit 2 Marketing Planning and Control Level 5 Higher National Certificate
Unit 2 Marketing Planning and Control Level 5 Higher National Certificate
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Planning is defines as the activity which involves various functions such as establishing objectives, designing strategies and implementing the procedures in order to achieve desired outcomes. In context of marketing, planning includes monitoring as well as controlling the implementation of marketing strategies or plans. Marketing control is defined as the procedure of monitoring the proposed plans. Monitoring as well as controlling market plan is important as the resources in the organisation or environment are scarce and it has multiple use at workplace. Evaluation and control also includes process of determining the effectiveness of a given strategy in achieving marketing objectives. Marketing plan provides the direction and details about the sequence of activities which are to be conducted in order to achieve marketing goals. Marketing planning and control is also considered as major strategic issue related to marketing or promotion. Increase in competitions and change in marketing trend has force firms to monitor or control marketing activities.
The purpose of the report is to identify an effective tool for monitoring as well as controlling marketing activities in context TESCo. It also emphasizes on evaluating the function of marketing planning procedure in delivering marketing strategy.
1. Environmental analysis
Background of an organisation
Tesco company is recognised as on of the leading retailer in food industry. Business entity follow the systems which allowed suppliers for insisting the retailers selling their products for a fixed price. By adopting this plans, Tesco company has been successful in gaining the loyalty of customers. Fix price strategy and good quality of products as well as services has allowed firm to provide high level of satisfaction to clients. Marketing team in an enterprise have focus on customer's satisfaction and building customer's loyalty through their service. Business entity sells approximately 39000 grocery products as clothing and other noon food items. An organisation also delivers own brand goods which intends to provide high value to customers. Objective of an organisation is to render high value to its customers and gain loyalty of clients (Bahadir, Bharadwaj and Srivastava, 2015).
Environment analysis is considered to be as important part of marketing plans. In other words, it can be stated that environmental analysis is helps in gathering information which is essential as well as beneficial for developing effective market plan. As Tesco is operating in diverse product segment, external factors in business environment has little effect or influence on business and also on marketing plans.
PESTLE analysis is considered to be as an effective tool in terms of measuring the impact or influence of several factors on Tesco marketing plan or strategies,These external variables also have direct as well as significant effect on the marketing or promotional activities conducted by an organisation.
These factors includes political instability in the country,wars, regulation as well as policies developed by powerful authorities etc. has direct and major impact on the marketing activities by firm. As Tesco organisation is operating business in global environment political factors have influence on marketing plan. Employment law makes mandatory for companies operating in retail sector to provide job opportunities. Tesco company is complying with this law and appointing the candidates for marketing of goods and services. This factors have enabled firm to eliminate legal obligations. As legal issues have adverse impact on the brand image as well as reputation of an organisation. Marketing team in Tesco has adopted the strategy to participate in programmes or events related to social cause. As this strategy has supported business entity in generating brand awareness. Political factors also have direct as well as major effect on the Tesco business performance in international market. Major amendments in laws and regulations made by the government considering the political issues in nation has great effect on firm business. Policies framed by the government has restricted the companies firm from entering into new market. This factor has significant impact on the profitability and sales of an organisation.
This variable has major impact on the financial performance on an organisation. The Brexit and instability in political situations have direct effect on profitability as well as sales of organisation. This factors also have great impact on the financial performance of TESco. Currently in UK there in economic crisis in the nation. This is due to Brexit which has significant impact on the economic growth of companies as well. Financial instability has major as well as significance influence on the marketing budget. There has been inflations in the prices of products or services which has direct influence on the consumer buying behaviour and demands of products or services offered by TESCO. Due to poor economic conditions, marketing team in an organisation has planned to adopt cost leadership pricing strategy in order to attract more numbers of customers. Economic factors has inspire marketing team in Tesco to control the expenses that has been incurred on implementing marketing activities. Financial variables are basically external forces which have the power over of the business, but it also has effects on presentation as well as marketing mix.
This variables have direct as well as significant impact on marketing plans as well as promotional activities by firm. Due to changes in social trends, customers in market have unique demands. It has become difficult as well as challenging for an organisation to identify the needs of customers in the market. Changes in social trends and needs of customers has forced marketing team in an organisation to bring changes in marketing plans and adopt new techniques of marketing. As Brexit has great influence on customer buying behaviour and pattern , it is required by Tesco to formulate effective marketing strategy and adopt the latest technologies for marketing or promoting products or services as well as generating brand awareness. Business entity also need to have focus on ethical practices as well as required to participate in events which are organised for social welfare. As this activity will assist firm in gaining customer loyalty and achieving the objectives of getting the recognition in the market. This strategy is important to adopt by an organisation, As now customer in the marker prefer to buy goods or services from such organisation which conducts ethical practices. Type of products and services demand by the customers regarding their social circumstances and their subsequent attitudes and values have direct influence on the marketing plan of company. As consumer in the market are now more conscious about health and quality of the product, marketing team in Tesco company has planned to include and focus on product mix in order to cater the need of customers and provide client high level of satisfaction. This strategy has supported business entity in developing as well as maintaining strong relationship with clients (Chen and et.al., 2015)
This is the rapidly changing factors within a business environment. Technological variables has supported Tesco in bringing improvement in quality of products or services and facilitating changes in procedures as well as several business system. Technology has provided benefits to both companies and an organisation. These constituents have also provided Tesco company an opportunity to provide customer an ease to buy goods or services. It has also allowed firm to deliver high level of satisfaction to clients and achieve other market objectives. Technologies assisted TESco organisation to develop new products and make goods more available to the customers in to fulfil their demand .It has also provided business entity an opportunity make services more personalized. Company has implemented intelligences system , wireless devices , money paying machines at outlets in order to provide additional facilities to clients. It has also allowed business entity to increase its effectiveness of products or service delivery system. Technological factors has also allowed company to adopt new techniques of marketing and reach wide number of customers.
The several norms or regulation formulated by government in UK has direct as well as big effect on the business performance of Tesco company. For instance, During the time of Brexit, government has banned the imports as well as exports of goods or services which has direct impact on the supplies of products and services. This factors have significant impact on the sales as well as profitability of organisation. Amendment in certain policies and implementation of certain code of practices which is executed to banned certain marketing practices has direct effect on the market plan of Tesco organisation.
This variable have significant impact on the marking or promotional activities. As due to bad weather conditions the company may face difficulty in organising the marketing campaign. Increase in competition and competitors action might force company to make amendment in existing marketing plan or strategy in order to survive in intense competitions. As tesco company is operating in competitive marketing environment, micro as well as macro environmental factors are favourable for business operations including marketing activities (Homburg, Jozić and Kuehnl, 2015).
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The marketing objectives reefer's to the group of goals set by the business when promoting its products or services to consumers. A company market objectives for a perticuler products include products awareness, targeted customer's,providing information about prodcuts. In other words marketing objectives related to selling products and services(Kapetanaki.,et.al., 2014.). It is common for business plans, marketing plans, business strategies. objectives are planned before strategies define what you want to achieve the followings common types of marketing objectives.
Market share- To gain knowledge for competitors and knowing about market strategies, Tesco also gain knowledge about there competitors. According to competitors they trying to improve new techniques, new technologies.
Brand recognaizations- promotion, advertisement about the products. That activities knowing about objective of established brand recognitions and awareness.
Customer's satisfaction- customer's satisfaction is the main target of any organisation. Example for airlines service they gives meals for customer's satisfaction. As the same Tesco also remains customer's satisfaction they provide services according customer's satisfaction.
Customer's ratings- customers ratings is the common objectives for marketing, to they improve rating of products and services. For example Tesco always determines to their customer's ratings.
Customer's retentions- increasing customer's retentions is the common objectives ,it involve good quality services. For example the Tesco provide good qualities products and services, they also provide occasionaly offer's.
Customer's life time value- some customer's are permanent customer's of the company they provide best facility for them.
Distributions- they reaching customers with locations, commerce and channel partners. for example online services they are provide home delivery services, and offer's according to customer's satisfaction.
Market development-they develop market according to their fields and they also reduce the concentration risk.
Quality-improving the quality of products and services and measured with quality metric.
Price discrimination- finds those customer's who are charge for large prices and those who not able to charge prices. Tesco provide low price to largest price products. So the low categories or higher categories people easily afford Tesco's products.
Customer's relationship- maintaining or improving customer's relationship to retains customer's and cross-sell. For example Tesco also need to good relationship with their customer's.
According to Tesco company first trying to understand customer's and they sends emails to latest and new store and their websites. plus discounts products as per customer's needs. for example's if customer's interested to purchases Tesco's horror DVD's Tesco would emails/ sends the latest horror DVD that is on their website or in store. Another example's first Tesco tries to meet the needs by relationship marketing is on Tesco website during on Easter holidays. The Tesco advertise to their products on full page on their website if customer's wants to purchase products they ordered on website and products delivered in before Easter. Tesco also selling clothes,shoes, begs, electronics etc. the Tesco company have direct communicate to customer's via emails, websites or their helpline numbers. They provide time-to-time advertisement to customer's, sales, offer which intract to customer's(Adamopoulos,. and Todri., 2015).
3. Strategy selection
As due to changing trends in context of marketing which is creating a great pressure on Tesco to develop effective marketing plans or strategies. In addition to this some political as well as legal factors are forcing an organisation to control marketing or promotional activities. Marketing plan is an effective step for an enterprise to give a new direction to their business. Tesco company is recognised as the big organisation which is operating in retail industry. Marketing department in Tesco organisation has adopted the strategy to categorise marketing plan into six major divisions these are Tesco Metro, Superstar, Extra, Tesco express etc. Business entity has achieved third ranks in terms of highest generating revenue company in retail industry. The several marketing strategies which can be adopted by the Tesco company are Segmentation strategy, positioning and targeting. Among all this strategies, Marketing team in Tesco company is currently following segmentations plan. As this strategy has supported firm in reducing the negative effect or influence of external factors on its business operations, sales and profitability. Market segmentation strategy has also helped business entity in increasing sales and generation of revenue. Marketing team in Tesco has also planned to provide high values to customers and conduct market research at regular interval of time. This activity will help business entity in delivering the high level of satisfaction to customers and gaining loyalty of client (Barrett and Weinstein, 2015)
4. Marketing targeting and positioning
The strategy which can be adopted by Tesco organisation is Targeting. As this strategy when included in marketing plan will support marketing team in determining the viability of business. It is required by marketing manager to focus on target market when formulating marketing plan. Features of an effective marketing plan is that it includes all those customers those who prefer to purchase fair price goods or services. Marketing team in Tesco company is also required to emphasize on the needs as well as demands of customers in order to target them in planned way. It is required by marketing team in Tesco, to focus on analysing the buying pattern or buying behaviour of customers in the market. As this will assist marketing department in formulation of an effective plan or strategies. It also supports marketing manager in identifying the need as well as importance of changing techniques of promoting goods , services or brand in the market. Analysing of customers buying behaviour as well as pattern will also help business entity in selecting the appropriate promotional methods or techniques (Pavlou and Stewart, 2015)
Positioning is another effective strategy which can be used by marketing department in a Tesco enterprise for improving marketing practices. Market positioning of goods plays important role market plan. It is required by marketing department in Tesco to position their products in the market which is located at centre area of city. As this will help business entity in providing customer an ease to buy company product or services. It will also firm an opportunity to reach wide number of customers and provide them, satisfaction by delivering quick services. Marketing manager in an organisation has planned to design innovative goods and is now company is concentrating on improving quality of products. This strategy has supported an organisation in attracting more number of customers.
Generic strategy includes three main strategies these are Functions, corporate and business plans which plays significant role in marketing plans of an organisation. As per the Business plan , it is required by the marketing department in Tesco company to align marketing strategies with business related practice. As this activity will help firm in increasing sales. Marketing team in an enterprise need to create an effective marketing policies which will assist business entity in accomplishment of set marketing objectives. Functional strategy includes allocation of responsibilities to its highly competent workers as per their expertise Function of marketing manager is to provide all resources to employees engaged in marketing or promotional activities. As this will support workers in achievement of desired targets and delivery quality services to clients (Kumar, 2016)
5. Assessments of 7P's
Integrating marketing mix is a plan which can be adopted by the marketing team in tesco. Marketing integration mix includes several segments, some strategies for integrating marketing mix are:
Product: It is required by Tesco organisation , to provide such products which should delivered high value and satisfaction to customers. As this strategy will support business entity in developing as well as maintaining strong relationship customers. By utilising this strategy, firm will able to retain profitable customers for long time. Product development will assist business entity in attracting more numbers of customers. Marketing team in a Tesco organisation is now concentrating on product mix and producing new goods(Pels, 2015)
Price- The company has planned to price its goods as per the quality , quality and satisfaction gained by customer by consuming specific item. Business venture has also planned to deliver quality goods at reasonable price to customers. It is required by the company o provide the products at value added price. As this strategy will help business entity in gaining the attention of consumers in the market. It will also assist firm in increasing sales.
Place:As the products offered by the Tesco company has gained popularity at large scale, therefore, an organisation can positioned their goods into new market.
Promotion: aggressive promotional strategy can be adopted by Tesco organisation. As this will assist business entity in increasing sales as well as profitability. Marketing team in a Tesco company can adopted or utilise online platform such as internet , social media sizes for promoting goods or services as well as brand,.As this marketing tool will help Tesco in reaching to wide number of customers. Personal selling is also an effective method OF marketing which will provide firm an opportunity to communicate directly with clients. It will also enables business venture to identify the needs of customers and analyse their perception about the products or services offered by company. Marketing department in Tesco can develop slogan or tag-line for promoting their brand. As this will help business entity in differentiating their goods from that of competitors. It will also support an organisation in communicating business objectives to customers and gaining loyalty of client.
People ; Tesco company is presently have focus on catering to the needs of customers,It is required by business venture to develop their concentration on hiring skilled as well as talented workforce. As this will support an enterprise in providing professional services as well as high level of satisfaction to client. Human resource management team in Tesco is required to make proper training arrangement for workers in order to support them in developing the potential to influence customer in positive manner.
Procedure: Business to customer marketing approach can be adopted by Tesco. Marketing department in Tesco is required to built tailor made system which will help business entity in development of procedures for providing employees an ease to communicate directly as well as effectively with clients.
Physical evidence:It is required by Tesco organisation, to improver the availability of goods to customers in the market. Company can develops its own websites for selling products or services directly to clients (Anton, 2015)
6. Implementation, evaluation and control
Evaluation as well as control activities plays significant function in implementation of marketing plans or strategies. Implementation as well as control of marketing plan is the procedure which is conducted in order to ensure that marketing plan develops has able to achieve strategic objectives. Implementation process includes directing , informing people about the activities as well as organising task in order to achieve desired outcome. Marketing plans also includes preparing comprehensive list of activities to be performed, people responsible for this activities and resources needed. It is required by employees to perform their roles as well as fulfil their responsibilities as per the prescribed by marketing manager. As employees behaviour and performance during the implementation activity has direct as well as significance impact on the outcome. Duty of marketing as well as human resource manager is to ensure the participation of all employees in implementation of marketing plan. As an effectiveness of strategic marketing plan is completely based on level of employee involvement in execution of marketing activities. Marketing manager is responsible for allocating resources which are required for executing the marketing plan in systematic as well as ineffective manner. During the execution of marketing plan , it is the duty of marketing manager to confirm the effective as well as efficient utilisation of resources. Selection of the strategy has a important or major effect on the subsequent functioning of an organisation (Salavati and Karami, 2015)
Controlling the marketing plans is a crucial activity. Objective of controlling marketing function is to measure the performance of plans. It also helps in preventing unethical practices and assists in identifying the performance gap. Controlling activities also supports marketing manager in planning the appropriate tactics or strategies to reduce the deviation in performance. The controlling procedure include following phases these are establishing standards, determining the range of tolerance range up to which deviation in performance can be accepted, measuring actual performance or outcome with standard, developing plans or strategies to minimise the performance gap (Marketing Function,2017). Tesco is a largest food retailers. they implement goods and services according to customer's demands and according to 7ps. Tesco controlling the cost efficiency and cost of the products. Tesco allows to services for any locations but in a city. They gives service and fresh food at same times. Tesco follow the 7ps of marketing. The 7ps increasing Tesco market strategies. According to 7ps Tesco also follow the procedure , they implement the new techniques, new machines for products. Tesco also needs the talented worker work skills are stronger and they work harder for company.
Tesco applied the 7ps in their company. Tesco company follow the marketing strategies, Tesco advertise to their product and services. The company have aggressive marketing planning for customer's. they provide fresh service to the customer's. TESCO also follow the pestle's low according to this Tesco also involve to economically, socially to the customer's. For economically- if tesco have plans to established a business In other city or other country firstly the tesco have competitions to the brands and the company needs legal formalities to their country. The company also understand the demands of customer's and fulfil them. In other words if tesco trying to implement their economic needs they needs all legal formality of country(Moorman,. and Day., 2016). about social needs tesco trying to know about market plans, there social needs and their advertisement or competitors. For technologically the tesco have websites their company presents their products or tesco send personally e-mails to the customer's who interested to purchase their products. For example customer's operate the Tesco website if customer's interested to purchase their products, the company sends personally emails to the customer's and give their response. According to customer's demands company delivered the products. The company also include offer sale in their website. Occasionally company present the sales of products.
From the above report refers marketing or planing about the business how involve marketing in the business what theories concerned in. From this report I bring found the marketing strategies, marketing objectives marketing planning and how to implement in chosen organisation. How pestle's factors applied in chosen organisation. I found till the end of these report in any organisation the marking strategies plays important role. How the organisation implement all these strategies, planing in their business(Paley., 2017.).
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Bahadir, S. C., Bharadwaj, S. G. and Srivastava, R. K., 2015. Marketing mix and brand sales in global markets: Examining the contingent role of country-market characteristics. Journal of International Business Studies. 46(5). pp.596-619.
Homburg, C., Jozić,D. and Kuehnl, C., 2015. Customer experience management: toward implementing an evolving marketing concept. Journal of the Academy of Marketing Science. pp.1-25.
Barrett, H. and Weinstein, A., 2015. Corporate entrepreneurship, the marketing mix, and business performance. In Proceedings of the 1997 Academy of Marketing Science (AMS) Annual Conference. Springer International Publishing.
Pavlou, P. A. and Stewart, D. W., 2015. Interactive Advertising: A New Conceptual Framework Towards Integrating Elements of the Marketing Mix. In New Meanings for Marketing in a New Millennium. Springer International Publishing.
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