Marketing plays an important role in gaining huge customer base for an organisation. Marketing department plays an important role in framing an effective marketing plan and strategies so as to update existing ones for the betterment of an organisation. Tesco is multinational groceries and general merchandise retailer having headquartered in England. It becomes the third in largest retailer in the world according to the revenues. To meet pass criteria, following Learning outcomes must be addressed:
Marketing is a most important functions or tool for a business organisation that helps it to communicate or interact with the customers in a market. Marketing is referred as a significant business functions which is used to promote and sell products and services of an organisation in a target market. It is also defined as an essential function that helps customers to gain effective knowledge of a product or service which is introduced by a company. The present report is in context to Tesco, a leading supermarket company in UK. The report will determine various roles and functions of marketing in the organisation along with a marketing mix.
P1 Roles and responsibilities of Marketing function
Marketing function is defined as a main activity of an organization that helps in Marketing and selling of goods and services in a target market to increase the profitability of the business. Marketing includes various activities such as market research, support system, strategies, financial system, distribution system etc. Marketing function is also responsible for obtaining marketing objectives and enhancing growth of the business. It plays different roles to drive a business or company towards success. The main objective of Tesco is to increase its sales and profitability in the global market. Some main responsibilities and roles of marketing function Tesco are described as below-
- Marketing research – The role of marketing function is to alleviate market research and identify needs or demands of the customers within a marketplace. The key function of marketing is to support an organisation to develop and maintain a positive brand image globally. It also helps a company to provide reliable, complete and correct information about products or services to the customers.
- Product plan development – The Marketing department also plays an important role in coordinate and support production as well as operational team for designing goods and services with respect to the need and demand of the customer in market. The marketing department in an organisation analyze market demand and needs to help in deigning a new product which can attract more customers
- Promotion – It is referred as the most significant function of marketing, launching or introducing any new product or service in the market needs a good promotion within the marketplace. Marketing function performs this role of promotion which assist an organization to advertise and sell their new product with high visibility.
- Public relations – Marketing functions also formulate and develop a good image of a company in market, this creates an effective relationship between the organization and customers. This relationship further leads to development of a good public relation.
- Sales – Marketing function helps a company or organization to promote its products and services in the market. This promotion assists a business to enhance its sales, as people get aware and attracted towards the products or services.
P2 Role and responsibility of Marketing in Tesco
Marketing plays a vital role in a business o organization as identified above, every organization or business needs effective marketing department to promote their goods and services in the market. Tesco is a leading supermarket company in UK and operates its business in many countries all around the world. Marketing team in Tesco focus on identifying various innovative tools and techniques to promote goods and services in the best possible way so that customers can get attracted. This enhances sales and profit of the company, therefore marketing can be defined as a most beneficial function for Tesco as its helps the company in maintaining a good position within marketplace. There are various important roles played marketing team in Tesco as described below -
- Development of strategies: The key arranging causes the organization to deal with its tasks so that the organization can make the changes if required by the organization in the activities and operations of the organization. The Marketing team will make the advertising technique for the organization that will assist the organization with gaining a superior understanding of the vital measures the organization need to take keeping in min main objectives to build a strong market share and complete different activities related to business. It will assist the organization with identifying the better market positions and achieve the more extensive number of clients (Rezaei, Wee and Valaei, 2018). Likewise, this will assist the Tesco with making the reasonable utilization of the assets accessible.
- Product Development: Tesco with launching the new products that will assist the organization with satisfying the needs and demands of the clients and pick up a superior devotion and share in the market. Based on the information obtained from the market investigation, the Marketing team can direct the creation branch of Tesco to build up a product or the administration that can meet the client's responsibility in most effective and proper way. This will assist the duty of Marketing team to give the exact data to the better improvement of the product or administrations(Lister, 2018)
- Statistical research: The Marketing division of Tesco will lead a statistical surveying which will assist the organization with gaining a superior thought of the necessities and prerequisites, needs or requests of the clients or the purchasers of the Tesco. Other than this, the statistical surveying will assist the organization with identifying its quality and shortcomings in its framework (Lusch and Vargo, 2016). This will enable the organization to achieve the vital improvements in its tasks and make strategies to complete the business operations. Aside from this, it will give the Tesco a concise thought of its rivals and their measures that can influence the organization's market share.
P.3. Marketing Mix of Tesco.
Marketing mix is the most essential approach in the function of marketing of the company. It refers to the right placement of the right element at right time and at the right price. It is very easy as well as simple approach for conducting marketing function within organisation. 7P's of marketing is the most essential weapon of marketing (McDonald and Wilson, 2016). It is the modern concept of marketing. There are many companies which use this tool of marketing for the development and growth of company. Tesco is also using this tool in its operations and function to make an effective plan of marketing. In order to attract more people towards the companies products and services, marketing mix model is the best way to reach the maximum audience. It also helps company in enhancing its sales and revenue of company. Marketing mix theory is same as the traditional tool of marketing mix i.e., 4P's of marketing but 7P's of marketing is the addition of marketing mix (7P's of Marketing Mix, 2017). Utilization of marketing mix is not one time process, but it should be used continuously in the evaluation and revaluation of various activities of business. It has some tough part which is that, in marketing mix, company has to evaluate each and every aspect of business plans. Tesco is focusing each and every aspect of marketing mix in order to promote its business and acquire a good position in the global market. In 7P's of marketing, there are seven elements which are products, price, place, promotion, people, processes and physical evidence.
Process- In this factor of marketing mix it involves the entire process of delivering the product and services to customers. It is very important that company should have systematic process of delivery of products to end users (Hugos, 2018). Tesco has outstanding process of delivery of products and their services as they always make sure that same quality and standard of products should be deliver to customers. Tesco has blue print of services which provides the detailed of the procedure of delivery of services. Within this process, there should be outlined areas where a preference and taste of customers can be accommodated to provide a unique experience.
Physical Evidence- Physical evidence includes location of the delivery of services plays a significant role. It is also very necessary that company should have the best and comfort as well as attracting location of businesses. The service location of Tesco is very comfortable and secure as customer always feel safe and secure in making transaction with company. Service is intangible which cannot be seen but it can be feel and lays a great impact on the mind of customers, so it is very essential to have the best customer services.
Place- Place includes the place from where the products has been sold or distributed. It is very essential that customer can easily find the product of company. The place of the products and services of the customers of Tesco is very convenient and customers are satisfied with the place of Tesco. Addition to this, company also have its presence in online marketing which is also the best feature of company and it will be very useful for customers who shop more on online networks. Place of the product or services plays a very critical role, as if the product cannot able to reach to the customers than it will be no use (Kotler and McDougall, 2014).
Product –A product is built to meet the needs of the people. Tesco ensure to the right type of commodity that is demand for the market. A product can be in two forms tangible and intangible. Tesco offering product as per customer requirements. It should be fulfill the consumer by working as expected by them. The company focusing on manufacturing of products which is important for their clients. This helps the business in increasing productivity. Products is according to the clients demand. It also analysis the global market on the basis of consumer needs. Commodity helps in upscale the marketplace for the business.
Price – Pricing of work and services provided by the company is tougher than pricing of product. By raising the cost of the goods may lose a customer retention. Price refers to the commodity of the company and it should be priced according to the market need. The Tesco focusing on effective pricing on their goods (Mishra, 2016). In the global market the company need to lower their prices according to the consumer and market supply. In today's era consumer demand lower price and superior quality product. Price plays essential role for the business and it helps in the economic growth for the business.
Promotion – It helps in the sales of the goods and services. Promotion helps consumer to tell them about your product. Marketing, advertising helps in to promote their goods in the market. Promotion helps the company in to differentiate their goods and products from their competitors. It helps company to create a brand image and goodwill in the market. Promotion helps in to gain consumer attention and offering unique services (Hugos, 2018). Advertisement and marketing is crucial for attracting consumers. The unique marketing helps in to grab the attention of the clients in the market.
From the above report it was concluded that Marketing is a most important functions or tool for a business organization that helps it to communicate or interact with the customers in a market. Furthermore, Marketing mix is the most essential approach in the function of marketing of the company.
Books and Journal
- Rezaei, S., Wee, C.H. and Valaei, N., 2018. Essential of Apps Marketing Implementation and E-Commerce Strategies: Apps Users' Decision-Making Process. In Apps Management and E-Commerce Transactions in Real-Time. pp. 141-158. IGI Global.
- Lusch, R.F. and Vargo, S.L., 2016. The service-dominant logic of marketing: Dialog, debate, and directions. Routledge.
- Lister, M., 2018. Essential social media marketing statistics for 2018.
- Hugos, M.H., 2018. Essentials of supply chain management. John Wiley & Sons.
- Kotler, P. and McDougall, G.H., 2014.Marketing essentials(Vol. 556). Englewood Cliffs, NJ: Prentice-Hall.
- McDonald, M. and Wilson, H., 2016.Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons.
- Mishra, A., 2016. Customer Story.
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