Marketing Mix & Plan of ASOS Plc

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.

 

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.

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 OUTLAY

 

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.

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