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Unit 2 Marketing Essentials Assignment - EE Ltd
Diploma in Business
Unit Number and Title
Unit 2 Marketing Essentials
Marketing is a term which is used for introduction of the products to the customers so that customers could know about the products as well as marketing includes distribution and selling of the product where marketers are appointed in the company who are responsible for all these work which are related to the product. In today’s world where there are lot of companies and so there is a lot of competition in the companies so in order to take advantage of competition company uses their marketing plans and through marketing they establishes their position in the market.
Task 1 Presentation of marketing
Speaker notes: This slide is about the introduction of the company about which the whole presentation is as this is about EE Ltd which a UK based telecom company engaged in providing telecommunication services to the people of UK and this company is a well known company of UK where majority of the people uses the 4G services of the company.
Speaker notes: This slide is about describing the actual concept of marketing which is providing the definition of marketing that marketing is used for making aware the customers regarding the products also identification of market so that analysis of the products can be done. Marketing includes distribution and selling of the product where marketers are appointed in the company who are responsible for all these work which are related to the product (Baran, M. 2014).
Speaker notes: This slide is about describing the process of marketing that the process of marketing goes through various steps. That first of all the situation analysis that marketing involves analysis of situation that includes the analysis of market and then the strategies are prepared to compete with the market then the next step is to take marketing mix decisions and the decisions are implemented and control is established for implementing the market plans.
Speaker notes: This slide is about describing the role of marketing manager and his importance in an organisation that a marketing manger plays a significant role in managing the activities relating to selling, distribution and promotional activities also the marketing manager is responsible for developing marketing plans for the organisation.
Speaker notes: This slide describes the role of marketing in various other departments of EE limited except marketing department. Marketing has a great impact on various other departments of EE Limited as marketing helps in better development of the products so this helps in establishing the satisfaction and loyalty of customers so the organisation is able to retain its customers for longer time through this all the departments of EE limited are benefited with marketing (Brandau, 2014).
Speaker notes: This slide is about describing the value and importance of marketing in EE Limited and like every other organisation marketing contributes to the success and growth of EE Limited because of marketing only EE Limited is able to introduce the products which are fulfilling the needs of the customers and so the company is generating more revenues through marketing (Rockoff, 2012).
Speaker notes: This slide is about describing the significance of marketing in different functional department of EE Limited as EE limited is a telecom company so it needs to know the expectations of customers regarding the products and services which they expect from company so marketing helps in solving this purpose hence it establishes smoothly working of all other departments.
Speaker notes: As you have seen in the above slide this is a brief summary of the whole presentation regarding the subject matter of the presentation that is marketing. Marketing plays a very important role in every organization as it enhances the efficiency and effectiveness of working of the company.
Task 2 Marketing research
Task 2a Compare how EE Limited and another competitor of your choice apply the various elements of the extended marketing mix to the marketing planning process to achieve business objectives?
Marketing mix is a set of marketing tools which are controlled by the organisations to increasing the marketing of their products. Marketing mix is an important part of marketing plan which is followed by the organisation to identify the needs of customers so that the organisations can meet the expectations of the customers and can fulfil their demand. In another words marketing mix can be called putting the right products to right people at right time and right price. For a business to earn profit it is very important that business should follow the right marketing techniques (Khan, 2014).
EE limited and Vodafone are competitors of each other as both the companies are dealing in the same type of business in UK where EE limited is the most largest and advanced communication company in Britain and Vodafone is provider of telecommunication services in UK and also Vodafone is the second largest mobile company in this world. Both the companies use marketing mix in their business plan whose comparison on the basis of marketing mix has been provided below.
Price: Price is the monetary value which a consumer pays in return of the product. The main goal of every company is to provide reasonable prices to its customers so that they are retained in the same company for long run as the prices are the things which matters the most to the customers so prices of the products has a great impact on customers. EE Limited uses the strategy to identify the expectations of customers regarding the prices and then it sets its prices accordingly where Vodafone introduces reasonable prices which are easily affordable by the customers.
Place: Another thing which is very important for every business is place as every business has to target the distribution of market so that the products are easily available to the customers as well as easy accessibility of the products lead to increase in the number of the products so the channel of distribution plays a major role in the marketing of any company. EE limited uses intensive and exclusive distribution techniques where Vodafone uses selective distribution techniques that there are selective stores of Vodafone in various segments also there are large number of stores of EE limited (Brooks & Simkin, 2012).
Product: Product can be called as an item which is used to satisfy the expectations of the customers which company sells and generate revenues as well as the difficult task for every company is the selection of the right products as the buyers always go the products which fulfil
their requirements so company has to focus on selection of that product which could meet the expectations of the customers. In order to develop the right products for the customers EE Limited identifies the needs of the customers regarding the product they want and then it launches its products to match the needs of customers where Vodafone provides a wide range of prices in its products that a customers can choose its prices as per their needs.
Promotion:Promotion is also a major role of marketing and it has become a major strategy which is used by the companies to increase the branding of their products as well as advertisement and promotion techniques are used by the companies as a major tool of marketing as promotion results to increase of awareness of the company’s products and this also creates the interest among people in regard to the products so that customers can buy the products and promotion strategies are used by all the companies in doing activities such as distributing free locusassignments. giving rewards to the customers. EE limited and Vodafone both the companies uses promotion strategies to enhance the knowledge of their products among people (Talpau, 2014).
Physical environment: Physical environment is also known as physical evidence which is known as the environment in which the products and services of the companies are delivered and also the companies interact with their customers. This is also used as a marketing tool for the companies as firstly the companies decides their environment of working through identification of their target market and then they use their marketing strategies to attract customers in target market. This is a commonly used marketing technique by EE Ltd and Vodafone that both the companies separately identify their environment where they identifies the tastes and preferences of the customers and sets their distribution channel accordingly.
People: People plays a major role in marketing strategy as people refers to the personnel who influence the persons to who products are distributed by the company. This also includes the human resources of the companies who play a major part in the marketing of the products in various segments. The employees or the marketers of the company are responsible to interact with the customers to know their views reading the prices and qualifications of the products also they are responsible for identification of the tastes and preferences of the customers so that the company can deliver the products as per the need of customers. EE Ltd focuses on recruitment of skilled people to the company so that they can perform their task efficiently and effectively where Vodafone focuses on establishing the research over the target market so that it can fulfil the expectations of the customers as per their need (LUAN & SUDHIR, 2010).
Process: Business strategy includes the process through which marketing is to be done by the companies so that they can choose the right process as well as the selection of the right process reflects the quality of the products and services of the company. The main focus of every company is the selection of the right process so that they can fulfil the goals regarding the market so EE Ltd focuses on the right process to ensure that the products are delivered to the customers on time and Vodafone focuses on ensuring the efficiency and effectiveness of the products that are being delivered to the customers.
Task 2b Produce a marketing plan to meet EE’s marketing goals and objectives?
EE Ltd is the most advanced digital communication company of UK which is engaged in delivery of mobile to the people of UK as well as providing variety of communication services with reasonable prices to the people of UK. EE Ltd more than 535 retail stores around its mobile phone, fixed communication services and along with its wholesale network and also this company is providing faster networks with varied range of services (Luke, K. 2013). Marketing plan for EE Ltd is as follows.
This report is about preparation of a marketing plan of EE Ltd so that the company can enhance its marketing skills as well as this marketing plan will provide a new guideline for the company to improve the efficiency and effectiveness of the working of the company so that this will reflect to the growth of the company. This outline for preparation of marketing plan for the company will provide new marketing strategies to the company keeping in view the past performance as well as future oriented performance of the company. This marketing plan will also help the company in establishing better control and actions of the company.
EE Ltd where EE stands for Everything Everywhere is a UK based mobile company which is indulged in providing telecom services to the people. This company is one of the largest mobile network operators and provider of internet in UK which is proving the best internet services to the people also this company is the largest operator of 4G services in whole Europe. EE Ltd has its headquarters in Hatfield, UK. and majority of the people in UK uses the network of this company.
Current Marketing Situation Analysis
For preparation of the market plan of EE Ltd The current market situation analysis has been conducted of the company to determine the areas where the company is working currently so that the current situation of the company can be known and this identification will help in development of marketing plan (Hawkes, 2013). The corrective measures can be taken in the marketing plan for improving the performance of the company and for analysis of current market situation internal analysis, external analysis and SWOT analysis of company has been conducted which is as follows.
Internal analysis: Internal analysis includes the working of the employees of the company as the company is a growing company it indicate the great efforts of the employees of company so for identification of actual situation an analysis of internal situations was conducted and it showed the positive employees of the customers towards the company also the measures are been taken by the company to satisfy their employees so that they can contribute their best efforts towards the company and another aspect which was analysis that there were some issues with some employees of the company in the marketing team so the measures are taken by the company for resolving those issues.
External analysis: External analysis includes all the external factors which are beyond the control of EE Ltd But they influences the business of this company so for the preparation of marketing plan external analysis is very necessary as to identify the competitors as the company is dealing in telecom business and there are so many companies in UK who are dealing in the same business like Vodafone, O2 so for preparation of marketing plan the identification of plans and policies of competitors and other such external factors which affects the growth of EE Ltd Is necessary
SWOT analysis: SWOT analysis is conducted with a view to identify the strength, weakness, opportunities and threats of EE Ltd and for preparation of marketing plan conducting a SWOT analysis is necessary because SWOT analysis helps in identification of key areas of the company so that those areas can be taken care while marketing and the SWOT analysis of EE Ltd is as follows.
For preparation of marketing plan of EE Ltd determination of its objectives is very necessary as the objectives of any company depicts the overall goals of the company and objectives of the company defines the mission and vision of the company so the marketing plan must be made in accordance with this that the marketing plan helps the company to achieve its organisational goals and objectives.
- To provide affordable and effective telecommunication services to its customers.
- To provide efficient telecommunication connectivity services to the customers of rural areas.
- To encourage the development of telecommunication services in all type of area.
- To focus on providing telecom services.
- To provide the services to its customers with efficient quality and reasonable prices.
- To resolve the issues of the customers.
- To protect the interest of the customers through providing affordable telecom services.
- To expand the business to various new areas.
- To promote best practise regulations as per the regulations of telecom sector.
- To follow the good governance practises.
- To generate revenues through providing quality services to the customers with the reasonable prices.
Every organisation works with a motive to achieve its organisational goals and objectives also it prepares some strategies for achievement of those objectives same like this EE Ltd has also some objectives which are mentioned above and for achievement of those objectives EE Ltd needs to follow some strategies as those strategies provides the way for fulfilment of the overall goals and objectives of EE Ltd.
Identification of competitive edge: EE Ltd has strategy of identification of competitive edge where the company is engaged in identification of prices and policies which are followed by its competitors of that EE Ltd can also decide its areas of working, plans and policies accordingly.
Marketing strategy: EE Ltd has followed its marketing strategy where it implements the marketing survey of the people to know the views of the customers, preferences of the customers. The main aim of EE Ltd is to satisfy the demands of customers so in order to achieve the satisfaction of customers the company takes the decisions with a view to meet the expectations of the customers (Shaw, 2012).
Advertising and promotion strategy: EE Ltd uses the advertisement through televisions, newspapers etc to attract the customers towards its products as well as uses various type of promotional strategies like distribution of free locusassignments.etc to increase the awareness regarding the products in the customers so that company can increase its sales and can generate more revenues.
Sales forecasting: EE Ltd adopts this strategy that it on the basis of past records it forecasts its sales so that they can get an overview of the estimated sales so that it is easy for the company to compare the actual results with this estimated results so that company can identify the variances and the correctives measures to increase its sales.
Preparation of sales programs: EE Ltd prepares where sales programs through which it provides training to its employees regarding the newly emerging techniques of working so that the employees of the company can improve the efficiency and effectiveness of their work as well as through this they can contribute to the increased sales of the company (Scott, 2014).
Segmentation, targeting and positioning (STP)
Segmentation: Segmentation plays a pivotal role in marketing planning of marketing process as marketing can be done through dividing the whole market into segmentation. This enables to diversify the business where marketing executives can be appointed for each segment and so through this the executives and work properly and in better ways in their own segments this increase the understand ability and efficiency of work.
Targeting: EE Ltd can increase its sales through targeting where the whole population can be divided into targets and then customers must be focused as per the targeted group also those target groups can be considered as a sample and through this company is able to study the marketing in better ways.
Positioning: Segmentation and targeting EE Ltd focuses on building its position in the market through following good governance practise so that it can contribute its responsibility towards society (A, & Y, 2016).
Tactics & Action
Marketing plan of EE Ltd should consider the tactics and action which is to be done by the company and those actions should include the personal interaction of the people of the company with the customers also the company should provide the offers to the customers and other tactic like giving rewards to the customers, focusing on the areas where there is lack of communication services and company can also focus on increasing the quality of its 4G services so that it can increase the number of customers.
Budget is an estimation of income and expenses so EE Ltd also need to estimates that will be required in implementation of a new budget so that company can implement the marketing plan in the estimated budget and this estimation of budget can be done by the finance manager of the company he will be responsible for estimation of costs in the budget so that EE Ltd can easily implement the marketing plan in the estimated cost and does not have to bear any uncertain loss. Estimated expenditure that will be required in this project £25 million (Slater, et. al, 2010).
Establishment of control is very necessary to monitor the performance of the project as the new marketing plan is established in EE Ltd it needs to be reviewed in very regular interval also the plan should be updated as per the latest emerging market trends and technologies. The control in the marketing plan must be established as the estimations of expenses and incomes of from the marketing plan are included in the budget and so the actual performance of EE Ltd must be evaluated after the implementation of the marketing plan and then the actual performance must be measured with the budgeted performance and through this company can measure the variance and can take effective measures to improve the performance (Meredith, 2016).
A new marketing plan will bring new changes in the existing plans and policies of EE Ltd as this will bring the company to the new edges where the company could find new ways to innovate its market as well as this new marketing plan enables the company to take an overview of the existing areas and aspect of the company. Marketing plays a very essential role in the success of the company also in this competitive world it is very important for every company to market its products to survive in long run.
This report has concluded the importance of marketing that marketing plays a major role in growth and success of companies. This report has concluded the importance of marketing in EE Ltd which is one of the largest telecommunication companies of UK. This report is about preparation of marketing plan in EE Ltd considering all the factors like strategies, objectives, budget and other which are included in the marketing plan also this report has explained the role of marketing manager in the company and also the contribution of marketing manager plays a significant importance in the overall success of a company.
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