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Manage The Marketing Process

Question :

Marketing is an essential function of a company as it helps in communicating and promoting the offering to the general public. The company chosen for this project is Marks and Spencer which can deal with luxury products, home products and clothing. It is headquartered in UK. This project covers the following-

  • Identify and implement the marketing performance of company.
  • Develop and use the marketing matrix in order to reflect marketing mix.
  • Evaluation of marketing performance and identify its strategic improvements.
Organization Selected : Marks and Spencer

Introduction:

Marketing process can be simply defined as the procedure of examining various opportunities within market, selecting target marketplace and developing marketing mix for the management of whole procedure. The current report is based on Marks and Spencer organisation which is deal in home products, luxury items and clothings and it is situated in united kingdom (Kotler, 2011). The main purpose of this project is to identify and execute the marketing performance of an organisation and also analysing marketing strategy of current business.

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PART A: IMPLEMENT AND MANAGE THE MARKETING PROCESS

(Refer page no: 11 to 48)

Identify and implement or manage the marketing performance of the organisation:

The areas of greatest potential for the business

Marks and Spencer always focus on their each and every areas where they identifying higher profitability and income. This is required for company is to find out their most potential areas which help them in target large number of customers. There are some areas which need to concentrate by M&S organisation such as:

Advertising – They need to manage whole advertisement department where all product promotional activities will be conducted for the gaining attention of customers. Marks and Spencer are using social media, newspaper, radio, television, mails and templates for promoting their products.

Market research – M&S company using effective marketing such as primary and secondary method through which they can easily collect and gather all customer required demand and needs. Also as per the company budget, primary research is best appropriate for the company because this research method help in analysing current demand of customers (Murray, Gao and Kotabe, 2011).

How all marketing efforts are integrated and working harmoniously

Integrated marketing define the holistic approach of communication marketing which is mainly consistent with both online and offline. It means that message is clear and make sure that expending are optimised towards different approaches which is very effective for marks and Spencer.

There are various marketing promotional methods which can be used by M&S company such as TV advertisement, social and newspapers. These marketing efforts are doing very harmoniously working for attracting large number of customers towards firm products and services. This will help customers for easily seeking more information about organisation products. Marks and Spencer company also using search engine optimisation for advertising their brand.

Marketing strategy reflecting the current market requirements and traits

Marks and Spencer need to conduct effective marketing strategy which reflect on their current market requirements and traits. The regular performance analysis is the current market requirement of the firm which directly reflect on marketing strategy i.e. enhancing sales (Christopher and Peck, 2012). With the help of this, they can easily analyse whole market situations for determining current demand of their customers.

Monitoring the progress against performance targets (activity, quality, cost, time requirements, etc)

Monitor product

  • Distribution – Marks and Spencer means spreading the products in the whole market place so large number of people can purchase it. They are distribute new products for target their existing as well as new customers.
  • Quality – The quality of each product of an organisation help in meet with desired customers and satisfying their needs or wants in proper manner. It is necessary for Marks and Spencer company is make appropriate strategy for gaining attention of large number of customers towards company products or services (Porcu, Barrio-García and Kitchen, 2012).
  • Pricing/cost – It is that expense which incurred for selling certain commodity by an organisation. Marks and Spencer fix that cost of product which are best suitable for their customers and also they can easily buy various goods and services at reasonable cost.

Monitor market changes

The current market changes in the Marks and Spencer such as modification in new technology and trends emerges. The company need to adopt latest techniques and methods which help in increasing their income and profitability in better. With the changes in the current emerging trends, the firm can alter their current lifestyle which help them in attracting large number of buyers.

Monitor marketing progress

While monitoring whole marketing progressing, it is necessary for Marks and Spencer is to analyse two data such as descriptive and inferential. In this, descriptive data analysis help in gathering and collecting appropriate information in better manner. This will using visual representation such as graphs, charts, tables, etc. on the other hand, inferential data analysis which can be used for make judgements regarding some issues and problems which are associated with marketing progress.

Ensure quality and activity requirements are met

With the usage of marketing metric, Marks and Spencer can easily ensure quality and activity requirement are met. They need to maintain their products quality in better manner so they can easily attract their customers towards new services or goods (Crowther, 2011). Firm also regulate and operate all business activities for smoothly run.

Ensure cost and time requirements are met

For making successful business, it is necessary for Marks and Spencer is to make sure that their cost should be reasonable for all desired customers who are buying new products and also they require to deliver their goods on time.

All staff involved in marketing are aware of their roles and responsibilities

In Marks and Spencer, all the staff members are aware about their roles and responsibilities which assigned to them. It will assist them in carry out with various accurate skills and abilities and also developing effective accountability for making success. There are various roles of company staff members where they need to perform all business operations and its functions. Also they are responsible for achieving required goals and targets.

Provide mentoring, coaching and feedback as required

Marks and Spencer manage team which help in providing mentoring, coaching and feedback to personnel. It will help an individual and team members for achieving desired goals or targets and also using resources for standard requirements. Feedback and coaching involves individual mentoring, group training sessions, on the job coaching and performance reviews (Avraham and Ketter, 2012).

Manage your marketing team

The company can easily manage their marketing teams by providing them effective coaching, mentoring and giving appropriate feedback for achieving desired goals and targets in proper manner. Marks and Spencer manage their marketing because this will help in exploring their desired customers who are willing to buy products and services.

Develop and use a marketing metric that reflects your marketing mix

Marketing Metric

Goals/ KPIs

Actual performance

Status

(over performed/ underperformed/achieved)

Reason

Consumption

The goal of this matrix is to provide effective products and services to the customers.

The consumption is used for measure accurate value of consumed products by people. They are delivering demanding goods to them.

Achieved

Providing new and innovative products.

Sharing

The main goal is to share relevant data regarding M&S company with the usage of tweets (twitter), likes (face book), google shares, LinkedIn shares, etc.

The company are share important data with using limited methods of media.

Under performance

Less time to share data

Lead Generation

Marks and Spencer main goal is to reaching with potential customers who are willing to gain such type of products.

Lead generation which help in measuring number of customers of marketing media can really research the products or services.

Achieved

Using appropriate marketing media

Sales

The main goal of the company is to increasing their sales volume.

They try to reach with desired customers and also satisfying their needs and wants in effective manner.

Under performance

Adopting new techniques and methods for gaining attention of large number of customers.

Developing a communication strategy to ensure all personnel responsible to each element of the marketing mix work together to meet your organisations objectives

Communication strategy

Marketing Mix

Responsible person

(e.g John Smith)

Communication vehicle

(e.g Meeting)

Communication mode

(e.g online/ formal meeting)

Frequency

(e.g weekly or monthly)

Distribution

George Lewis

Online

Interpersonal

Weekly

Level of service

Elisa Haydn

Meetings

Interpersonal

Weekly

Pricing

Veronica Smith

Television or radio

Interpersonal

Monthly

Promotion

Sam Fernando

Advertisements

Presentational

Monthly

Product or service

design

John Lewis

Conferences

Presentational

Monthly

quality

Alica

Television

Interpersonal

Weekly

range

Brayden

Television or radio

Presentational

Weekly

safety features

Antonio

Meetings

Interpersonal

Monthly

technical features

Veronica Smith

Online

Interpretive

PART B: EVALUATING THE EFFECTIVENESS OF THE MARKETING PERFORMANCE

(Refer page no: 49 to 59)

Analyses of the marketing outcomes

Marks and Spencer conduct marketing campaign for promoting their products and services, after that they analyse its results how many customers show their interest regarding goods. They also focus on effective marketing strategic objectives and confirm that it is fulfilled or not (Baker, 2016).

Review of strategic objectives

Marks and Spencer review their strategic objectives and goals which help them in identifying major key areas which they are targeted and also try to achieve its long term vision and mission. The vision statement of marks and Spencer is to offer good quality based products for customers.

Review of marketing metrics

There are four types of marketing metrics which need to be reviewed and they are measurable aspects of marketing plan which required to evaluate. This involves consumption, sharing, lead generation and sales. Sharing and sales are most appropriate metrics method for strategic objectives which can be used by Marks and Spencer company.

Analyses of success and performance gaps (in relation to cause and effect)

Marks and Spencer analyse the success and performance gaps and it can be used for highlighting any areas fr better improvements. This involves additional training, getting extra resources, performance monitoring, describing strategic marketing, mentoring, additional skills and knowledge assessment. It will assist in identifying extra skills and abilities which can required for gained in order to meet employees targets and goals. Success and performance gap also assist in recognise some additional resources which are necessary for reached KPIs (Piercy, 2012).

Analyses of over-performance against targets for trends

Over performance define as when the performance of team individual exceeds what was anticipated such as specific target. Marks and Spencer try to find out the major cause and set the new target which are more practical or real in nature. When over performance is better than under performance so its outcome is lack of motivation which is achieved by staff members in easy manner. The trends are occurs when analysing of over performance will assist in find out particular areas in which group or individual are over performing. Along with this, it will help in find out anomalies and impact on external trends on performance where they are able for judge over or under performance which will continue active and need to take further actions.

Analyses of the changes in market phenomena

Market phenomena has various forms and that will shift in the form of new technology and trends emerge. Marks and Spencer analyse the whole market that will mainly deal with customers regarding effective products and services. They need to modify their current strategic objectives for change in the market phenomena so they can easily achieving goals and targets.

Develop a written report (consider the above analysis’s) that documents the review and suggests potential strategic improvements

Marks and Spencer need that their documents should review and suggest potential strategic improvement which are required for an organisation. It is very simple and easy to access for future usage. This will also deal with documentation formats such as manual or electronic (Vegholm, 2011). This is necessary for company is to ensure that written note is more clear and deliver message to another person. Document should be concise, objective, exception, appropriate in language and add only necessary information.

Conclusion:

From the above mentioned report, it can be analysed that Marks and Spencer always focus on their each and every areas where they identifying higher profitability and income. The regular performance analysis is the current market requirement of the firm which directly reflect on marketing strategy i.e. enhancing sales. There are various roles of company staff members where they need to perform all business operations and its functions.

References

  • Kotler, P., 2011. Reinventing marketing to manage the environmental imperative. Journal of Marketing. 75(4). pp. 132-135.
  • Murray, J.Y., Gao, G.Y. and Kotabe, M., 2011. Market orientation and performance of export ventures: the process through marketing capabilities and competitive advantages. Journal of the Academy of Marketing Science. 39(2). pp. 252-269.
  • Christopher, M. and Peck, H., 2012. Marketing logistics. Routledge.
  • Porcu, L., Barrio-García, S.D. and Kitchen, P.J., 2012. How Integrated Marketing Communications (IMC) works? A theoretical review and an analysis of its main drivers and effects.
  • Crowther, P., 2011. Marketing event outcomes: from tactical to strategic. International Journal of Event and Festival Management. 2(1). pp. 68-82.
  • Avraham, E. and Ketter, E., 2012. Media strategies for marketing places in crisis. Routledge.
  • Baker, M.J., 2016. What is marketing?. In The Marketing Book (pp. 25-42). Routledge.
  • Piercy, N.F., 2012. Market-led strategic change. Routledge.
  • Vegholm, F., 2011. Relationship marketing and the management of corporate image in the bank-SME relationship. Management Research Review. 34(3). pp. 325-336.
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