Delivery in day(s): 5
Diploma in Business (Marketing)
Unit Number and Title
Unit 2 Marketing essentials with 7Ps
This Unit 2 Marketing essentials with 7Ps assignment is about the marketing elements that affect the growth and success of the organization. It is important that company uses correct market approach to leads the company to the path of success. In this, a company called EE limited wants to make necessary changes in the marketing aspects of the company. This is done by importance of marketing implantation in the company. for this purpose a presentation is made for the formulation and implication of marketing principles in the organization that enhances the interrelationship among deep[garments of the organization. apart from that marketing mix are discussed in details in the report by comparing EE and O2 company. atlas a marketing plan is formulated for the growth of the organization and its success in the long run.
Marketing is the techniques or the way through which big & small business can earn success and growth. Marketing helps the company to work towards the goal to increase its sales as with better sales the more profit can be taken into account by the company. This marketing is about the company called EE limited is the telecom company and Mobile Phone Company. Marketing helps to maintain the relationship between different departments as well as interpersonal relationship also. This relationship is based on the exchange relationship as all the sales of the company decide the future of the company. Good marketing strategy helps the company to stand itself in the market and make necessary decisions for the growth of the company.
Marketing is performed by the a systematic process through which an effective marketing can be accomplish. There are four steps in the marketing process they are situation analysis, marketing strategy, marketing mix decision and implementation and control. Situation analysis helps the company to determine the current scenario of the market that enables the analyzing the condition in a proper manner. Another step is formation of marketing strategy so that no problem may arise on that regards in future. An effective market strategy can leads to accomplishing the goals that can be helpful for the organization. Another step is the marketing mix decision that is depended on 7P’s. If they are used properly then there is less chance that any complication may arise in future. Last step is the implementation and control. It must be effective so that no problem can hamper the marketing strategy.
Marketing manager is appointed who looks after all the details of the marketing and make necessary decision in that regards. He develops the marketing plans that can be useful for the organization and for marketing team. He is the person who coordinates with the other department so that no miscommunication may occur that leads to defaults and non-functioning of the company. He has to make marketing decision so it is important him to analyze all the market condition so that decision be effective and efficient. A good marketing manager can lead its team to the great heights.
Marketing department helps functional department in all the necessary working and operation of the company. It also affects the working of those departments like human resource department will have to hire more employees if the marketing department is performing. This department also keeps that track on marketing personal. Another department is the finance department who makes budget for the marketing plan. And is marketing is not conducted properly then there are chances that loss may be suffered by the department. Another is the production department that has also impact of the marketing department as if marketing departments fails to sell its product then overstock situation arises that causes problem for the department.
Marketing must be effective as good marketing leads to the success of the company and company may be able to focus on the growth on long run. It also increases the goodwill of the company as an effective marketing increases the sales that enhance the reputation of the company. A good marketing manager also creates a good relation with other department that helps the organization. There is the imperative need for interrelationship among department as it helps the company to work in harmony and with effectiveness. It also increases the work culture and work environment of the organization that leads to smooth working of the company. If there is harmony among departments that goodwill of the company will also increase which is beneficial for the long run of the business. It also helps in effective decision making that can solve all the problems. It can be concluded that an effective and efficient marketing can solve many problems that hamper the growth of the company. Marketing manager of the company called EE limited is required to make necessary changes for better inter departmental relationship and better communication. It can be concluded that EE limited should follow marketing elements effectively.
Marketing mix is the concept that serves as a base to the success of the company. A business cannot run without the profit and it can only be earned by the suitable and appropriate marketing strategy and process. One such technique or tools is marketing mix. It is the concept in which suitable product is served at the right time and right place so that it can be easily approachable to the market and sales and profit of the company may increase. Marketing mix has four parameters that are place, price, product and place. But with the changing scenario and the nature of business, there is extension in the aspects such as process, people and physical environment. The 7 P’s are used in service marketing.
These 7 P’s are compared by in accordance with the two mobile phone company. One company is EE limited that is British based mobile company whose headquarter is situated in Hatfield, UK. In relation to 4G services it is the largest operator in the Europe and largest mobile operator in UK. Another company is O2 which is the second largest telecommunication service provider after EE limited. This company is famous for its mobile worldwide and is highly acceptable in UK. These two company marketing mix is compared and provided below-
With the changing scenario company is required to take corrective actions in relations to the its marketing strategy due to which it is integrating three more aspects in the marketing. This is the best approach for effective growth of the company get itself anchor in the tough competition. These extended P’s are more profitable as it provides management a wider platform to make decision for the company market value. This is also beneficial as process, physical environment and people cannot be ignored to accomplish the task. Both the company is working towards its goals by applying best marketing mix for the betterment of the company (Lee et.al, 2016).
Executive-This is the outline of the company new plan for marketing that can enable it to diminish or reduce all its problems that is affects or may affect its market growth in future. This consist of all the analysis of its past performance, its objectives that is required to be achieved in future along with its strategy that it would implement in future for better growth of the company in long run. Apart from that tactics and actions to accomplish its task along with the budget in which it will be accomplish is mentioned properly. Measures to make certain controls are also present that would help in better growth of the company.
Company Overview-EE (Everything Everywhere) limited is the British based telecom company with the market spread throughout United Kingdom. It is also in the field of internet service provider along with joint venture with Deutsche Telekom and Orange S.A. It is the largest mobile network operator in Europe and largest 4G service operator in the whole UK. This company succeeds O2 UK mobile company in terms of network operator. For effective marketing, company has taken much initiative like sponsoring in academy awards and many others. But then also it lacks in certain aspects that leads to customer dissatisfaction which impact on the market value of the company. So for this purpose a new market plan is designed for effective growth of company.
Current Marketing Situation Analysis-An analysis of the current market structure and functioning of the company is made so that the shortcomings are overcome by the company. For this purpose internal, external and SWOT analysis of the company is conducted that is shown below-
The basic objectives in this concern are listed below-
Strategy-It is important that objectives of the organization achieved within specific time limit so that success of the company be attained. For this purpose an effective strategy is required to be made so that company can performed its task more accurately. A strategy in this concern is formulated below-
Segmentation, targeting and positioning (STP)
Tactics & Action-The next step in planning is to form certain tactics and then actions so that goals are achieved in the proper manner. This can be done by following a good tactics to target customers by promoting the mobile phone with 4G services to increase the customers’ base. Apart from that advertising to reach its customers at regional location can be effective way. Another way is to position its product on the e-commerce websites to increase its sales. Actions in this regards will be to study the market in the proper manner along with its pros and cons. various forces that affects the market be analyzed by the analyzer so that no problem to be suffered by the company while implementing the plan. Each strategy will require at least three to five actions so that if one is not being able to be implemented then another can be used in that respect. Actions are made as per the attitude of the customers of that area. Like regional regions customers requires good connectivity so actions to promote the products will be by showcasing the effectiveness of the product that can enable better market base for the customers. Another thing is to tackle the competitors that can be done by good advertising policy and avoiding wrong means that increase the goodwill of the company (Luke, 2013).
Budget-It is the estimation of the expenditure required to be made in the new marketing plan. It is required to made with accuracy so that after its implementation no financial loss suffered by the customers. This can be done with the help of financial manager of the company. It is estimated that around £ 15 million would be require for this project. Apart from that £5 million is to be remained in the contingent account in emergency (Albanese et.al, 2010).
Control-When this plan will be implemented then it will be scrutinized and check at regular time interval so that no default may arise in that respect. Controlling is required for avoiding any flaws or default that would cost a fortune to the company. Managers would be required to give reports at regular time interval so that if any amendments are required to be done can be completed in the proper time period without damaging the working of the organizations. Also a fair check is done so that all the wrong means is avoided by any employee of the organization as it can harm the reputation of the company (Hawkes et.al, 2013).
Conclusion-A new management plan can be helpful for the company to diminish all its flaws so that no problems are arise and market base of the company be enhanced in proper manner. Apart from that company also required to use all the fair means to conduct its business operation. If company uses any wrong means in this regard then plan formulated will not effective and may cause serious trouble to the company image.
This report is about the marketing aspect and principles that are used in the company for better management technique so that no problem may arise in future. Here a company called EE limited is taken to performanalyses the marketing mix used by the company. Company is using a good method but require certain measures for better growth of the company. For this purpose company is required to make necessary changes in the marketing mix as there are certainflaws in it. For this purpose a marketing plan is formulated to get the desired result for the company.If company follows the market plan then there are chances that growth of the organization is taken into account.
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