Unit 2 Marketing Essentials Assignment Solution - EE Ltd.

Unit 2 Marketing Essentials Assignment Solution - EE Ltd.

Unit 2 Marketing Essentials Assignment Solution - EE Ltd.

Program

Diploma in Business

Unit Number and Title

Unit 2 Marketing Essentials

QFC Level

Level 4

Intorduction

Marketing essentials is been considered as an important aspect in any of the organisation which helps in making appropriate actions and business activities of selling and endorsing the products and services along with the customer satisfactions. In the present competitive era, it has become crucial for the organisation to implement the best marketing practices so that to bring enhancement in the brand value an image of the organisation and ensure the customer satisfactions over it. The present report is thus carried out to understand the basic concepts of marketing essentials and the related aspects of an organisation. The report would be identify as how the extended marketing mix elements are been applied by the organisation in the marketing planning. It would also develop a marketing plan to meet the set objective and goals in an organisation. Furthermore, the report would include the situational analysis of an organisation along with the strategic recommendation for the business practices. In order to gain an in-depth knowledge the marketing activities and the related aspects of EE limited would be elaborated in details. EE limited is basically a mobile phone company being headquartered in UK.

Unit 2 Marketing Essentials Assignment Solution - EE Ltd.

TASK 2

2a) Comparison of how EE limited and Vodafone limited apply various elements of extended marketing mix to the marketing planning process

Marketing is been considered to be the management process which is responsible for recognising, estimating and planning for the satisfaction of the customers’ needs, wants and desires effectively. Marketing is basically widespread concept and includes vast number of activities and aspects which contributes in promoting and enhancing the products and services of an organisation effectively (Babin and Zikmund, 2015). The marketing essentials mainly facilitate an organisation to implement various promotional activities and initiate with the development of the products and the services effectively. The marketing mix elements are been signified with the four major P’s such as Place, product, price and promotion. These elements were being further extended with three more P’s so that to enhance the effectiveness of the marketing activities and contribute in the marketing planning as well. The extended marketing mix elements are People, Physical evidence and Process specifically. The 7P’s being applied in EE limited and Vodafone limited are as followed:

  • Products: Products are the most important aspect as they are the basis of the organisational success. It is very much important to identify the market needs and the trends so that to develop and introduce the products and services accordingly. The organisations require identifying the right product for the right target market. In context of EE limited, it has been seen that the organisation offers wide range of handsets such as tablets, Smartphone, broadband networks, etc. based on the requirements of the target market. On the contrary, Vodafone provides with the mobile services networks to the customers along with the branded handsets, Smartphone, voice, message and data services (Rahmani.et.al, 2015).
  • Price: Price is another element which contributes in the endorsement of the brand among the targets segments. It is very much important for the organisation to set the prices keeping costs of operation, material cost, etc. in minds so that to manage the profits and losses of the business as well. The pricing policy of EE limited includes proper planning of the cost of production and the revenue margins specifically. However, in order to attract the customers EE limited offers profitable deals for the customers and provides with the affordable services. Whereas, the services offered by Vodafone are costly when compared with the other brands.
  • Place: This element is been concerned with the distribution methods being used by the organisation to bring the products and services within the approach of the customers. It is very important to make use of the effective distribution channel or method through which the products and services could be directly availed by the clients easily (Luo.et.al, 2015). EE limited provides it products and services through wholesalers, retail stores, distributors, etc and ensures that the customers are been facilitated with the services effectively. While, Vodafone distributes its products through Vodafone stores, mini stores, retail outlets, franchises, distributers, etc.
  • Promotion: The promotional activities involves advertising, sales promotion, public relation, etc. which influences the customers to avail the services specifically. It has been found that the EE limited makes use of the sponsorship techniques, promotional campaigns, social media marketing, etc. On the other hand, Vodafone makes use of the promotional activities such as advertising; direct selling activities, websites, hoardings, etc. for promoting its products and services.
  • People: People are the basic links between the organisation and the customers which bridge the gap between both of them by resolving the customers’ queries and serve them with the best satisfactions (Goi, 2015). EE limited ensures that the people such as managers, employees, leaders, etc. are been provided with better job satisfactions so that to make them work according to the organisational goals. The people are been provided with the recognitions, rewards, training, etc. which keeps them updated with the current trends and work accordingly. On the contrary to this, Vodafone limited mainly focuses on the monetary benefits and rewards such as bonuses, incentives, increments, etc. which motivates the people to the great extent.
  • Physical evidence: It is very much important for the organisation to have a physical existence so that to gain trust and loyalty out of the targeted customer segment. The physical evidence of EE limited is been signified with the presence of stores, retail outlet from where the products are been distributed in the market. Vodafone is the renowned brand and owns various mini stores and stores where the customers are been greeted and treated in an effective manner.
  • Process: Concerning the telecommunication organisations such as EE limited, it is required to satisfy the customers and convince them more effectively so that to attain a comparative advantage over the other brands (Jin.et.al, 2015). It is very much important to ensure a systematic flow of activities to deliver the products and services and attract the customers towards the brand. EE limited had facilitated the employees with easier process of managing the issues and complaints of customers by establishing an online system which records the information and assist the employees in providing better resolutions to the customers. On the contrary, Vodafone acquires highly defined set processes initiating from the handling customers till the resolution of their issues. The organisation makes use of system technological systems which helps in sorting out the customer management and provides them with the better services.

However, these extended marketing mix elements proves to be beneficial to the organisation in developing its brand value and image within the target market and avail the best output out of them. The elements play an important role in making proper marketing planning and implement the same effectively (Gr?dinaru.et.al, 2016). It would even facilitate in making proper forecasting about the marketing activities to be carried out for the enhancement of the brand value and reputation in the market.

However, these extended marketing mix elements proves to be beneficial to the organisation in developing its brand value and image within the target market and avail the best output out of them. The elements play an important role in making proper marketing planning and implement the same effectively (Gr?dinaru.et.al, 2016). It would even facilitate in making proper forecasting about the marketing activities to be carried out for the enhancement of the brand value and reputation in the market.

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2b) Marketing plan to meet the objectives and goals of EE limited

Executive

The marketing plan would mainly include the evaluation of the internal and the external environment of the organisation. It would include effective strategy for the establishment of the products and services in the market. Along with this, the budget of marketing planning would also be developed so that to manage the financial resources effectively.

Company overview

EE limited is been listed among the leading mobile network operators and internet service provider of the British telecommunication group. The organisation is basically registered with the name, Everything Everywhere and is been known by EE limited within the industry. The organisation is been identified as the largest and the most digitally advanced communication company in UK that delivers mobile and fixed communication services to the customers. It has been recognised that the EE limited acquires more than 553 retail stores and serves nearly about 31 million mobile, fixed and wholesale network connection all over the region.  The organisation operated the biggest and the fastest mobile network in entire UK and is the first superfast 4G mobile service provider in the country. It has been recorded that the 4G services of EE limited had reached to approximately 95% of coverage of the entire population of UK.  However, the 2G coverage area of EE limited had reached to 99% of the population and 3G had reached 98% of the population specifically. In the past few decades, EE limited had earned remarkable recognition among the people and has been ranked as the Best Network for Business and Best Consumer Network at the 2014 and 2015 Mobile Industry Awards.

In context of the marketing aspect, it has been identified that EE limited had initiated with various marketing activities such as sponsoring various events, festivals, etc. and online marketing activities which make them establish their brand within the customers.

Current Marketing Situation Analysis
Internal analysis

The internal analysis mainly includes the evaluation of the internal environmental factors which could influence the organization and its business practices. It has been found that EE limited acquires enough resources, capabilities, and core competencies which help in meeting the requirements of marketing activities. The organization even acquires sufficient numbers of manpower and assets in order to fulfill the modifications faced due to the market demands. It is very important for the organizations to have core competencies at the workplace so that to maintain sustainability in the performances and ensure optimum utilization of the resources as well (Grant, 2016). According to the internal analysis of EE limited, it has been observed that the cultural and organizational structural capabilities are favorable which contributes in the empowerment of the business growth. Moreover, it has been also found that lacking in the training and development of the employees had proved to be the major barrier in the internal strength and had restricted EE limited to extract the desired outputs.

External analysis

This analysis includes the process of analyzing and scanning the external environment factors of an organization which helps in determining the positive and the negative trends which could influence the performances as well. With respect to EE limited, it has been seen that the organization acquires high opposition and technological impacts in its marketing process. Government is the major external factor which influences the business through its rules and regulations being implied on the business practices and affects the process as well. It is very important for the organization to establish effective pricing policies with high quality standards so that to diminish the risks and enhance the competitive advantage over the others. In addition to this, global economy had also made impacts on various aspects such as pricing, distribution and competition services (Dinis and Berg, 2016). EE limited acquires remarkable strengths in implying the rules and the bringing technological advancements in the business operations. However, the emergence of new entrants and the global economical changes had to be brought in consideration by EE limited in its marketing processes.

SWOT analysis

SWOT analysis is basically the evaluation of strengths, weaknesses, opportunities and threats of an organization which helps in making an enhanced plan over the marketing activities. The SWOT analysis of EE limited is as follows:

Table 1: SWOT analysis

Strength

Weakness

  • EE limited acquires adequate amount of technically advanced equipments and systems.
  • The major strength of EE limited is its largest network coverage in customer market
  • It provides with the high quality services in cost effective manner
  • EE limited lacks in integrating with new trends and customers in the market.
  • There is a communicational gap at the organizational levels (Hollensen, 2015).
  • There is a poor utilization of market scopes and opportunities by the management

Opportunities

Threats

  • The organisation could make use of internet services and bring enhancement in the business performances.
  • There is a wide scope of establishing business in new markets of Europe
  • Increase in the new competitors
  • Fluctuating rules and regulations among countries
  • Lack of skilled staff members.
Objectives

It is very much important for the organization to acquire a set of defined objectives or goals which would help in reaching the desired success. It is required by EE limited to define the objectives so that to make the employees work accordingly and attain sustainable growth. The objectives are however framed based on the strengths and opportunities and with effective consideration over the weaknesses and threats for the products in the market. The objectives of EE limited are:

  • To bring enhancements in the brand image and value through customer satisfaction
  • To diminish the temporary time cost and attain the competitive advantages
  • To endorse the business values and awareness
Strategy

In order to expand the business operations, EE limited could make use of various strategies which would contribute in the achievement of the desired objectives. Following are the strategies which could be used by EE limited:

Market entry: It is important for the organization to maintain the quality of the product and also help the management to sustain in the market with proper marketing strategy. It is the dusty of the management before entering in the market that quality of the product is maintained.

Merger: Merger helps the management to expand the business strategy in the different parts of the world and get the good customer base for the organization. This kind of strategy supports the business to get the good response from the market. Merger is the process under which two organizations to do the business together and expand the business in different parts of the world (Nilsson and Selmer, 2016). The major benefits of the merger are to use the resources properly and make the products more attractive. In merger resources come closer utilize the human resources for more effective production process.

Joint Venture: It is another process under which EE Limited start business with another organization and makes the use resources more effectively. Improvement in services may help the organization to retain the clients and make the use of resource for the better purpose. The major reason behind the recommending this strategy is to low cost and higher profits merging the resources and using the existing marketing actions with the help of online sources by attaching the professional skills (Shaw, 2015). It may help the business to improve the communication strategy in the market and make the products more competitive.

Segmentation, targeting and positioning (STP)
Segmentation

The segmentation strategy is mainly carried out with the purpose to identify the actual segment of customers to be approached and targeted for the products and services. It is basically the categorisation of market including both the potential and the existing customers in small divisions so that to easily target the actual customer segments. The segmentation activities are mainly conducted on diversified bases such as demographical, geographical, income status, gender, age, etc (Schlegelmilch, 2016). Therefore, it has been identified that the segmentation strategy would facilitate EE limited in classifying the market and establishing simple and flexible initiative for employees to approach the customers. The management of EE limited had made use of the demographic market segmentation strategy which would help in classifying the market based on the levels of income of the people. It has been even found that the segmentation of the market is been done in two classes such as upper and lower classes, where the organisation would develop the products and services according to the segments and would offer them specifically.

The marketing management of EE limited would be facilitated with identification of the needs and desires of the customers which would help in providing the customers with the best satisfactions. Thus, would be able to meet the desired levels of expectations and achieve the set objectives effectively.

Targeting

In order to achieve the desired levels of success, it is very much important to identify the actual target market and focus on the same effectively. It has been identified that the targeting strategy helps an organization to recognize the potential market to be approached by the organization and deliver the products and services accordingly. In context to EE limited, the organization requires to focus on the target market like specific group with high level income could be approaches with the high range mobile phones or vice versa. It has been identified that EE limited would be making use of the undifferentiated targeting strategy in order to cover wide area of the region and higher numbers of customer segments (Barton, 2015). With the purpose to this, EE limited would be sending promotional messages and information to each and every individual of diverse segments so that to make them aware about the products and services effectively.

The rationale behind the adoption of this strategy is to reach the desired objectives at larger scales and enhance the numbers of customers to the large extent. The strategy would be facilitating the organisation in the development of sufficient awareness about the products and services and new offers or plans among the customers effectively. However, this would enhance the cost of marketing activities and operational cost of organisation and would even result in mismanagement of the financial resources as well.

Positioning

This particular strategy provides with an assurance of the existence in the industry. It is the most important aspect for the organisations as it facilitates with the existence among the customers and made them recognise the brand specifically. In context to EE limited, the management must implement the brand positioning strategy to promote its products and services and establish them in the market effectively. With the development of products and services, EE limited would be able to make new brand position and value among the customers (Singh and Jaiswal, 2016). In order to position the products and services, EE limited must bring new creative concepts and cost efficient deals in its products and services which would attract more number of customers and enhance the revenue income as well.

Tactics & Action

In order to execute the strategy in the functionalities of the organization, it is required to make appropriate actions so that to ensure the effectiveness of the same. It is very much important for the organization to assure the effective planning and procedure for the execution of the strategy. It has been identified that the action being planned must acquire stable mission and vision which would help EE Limited to gain the level of competitive advantage within the industry. The tactics basically depends upon the employee behaviour and the cultural environment of the workplace. Along with this, the action of an organization depends upon the different purposes such as business exposure, diminishing the additional cost, earning higher levels of revenue income, etc (Rahmani.et.al, 2015). The Top management of EE enterprise always try increase the capability of the employees try to take the actions like training of the employees, effective communication process etc.  Therefore, the strategies being implemented would prove to be beneficial to EE limited to the great extent.

Budget

Table 2: Cost of marketing plan

Activities

Cost (£)

Market research

12000

Marketing Planning

30000

Human resources

10000

Training

10000

Use of technology

50000

Implementation of strategy

5000

Total

117000

Control

With the effective implementation of the strategy and procedures, it is very much important to establish appropriate control and monitoring measures which would help in making proper utilization of the resources. Therefore, to ensure the proper control EE limited would be hiring adequate amount of expertise or professionals for monitoring the marketing activities based on the proposed strategies in diverse areas of concern (Jin.et.al, 2015). In addition to this, EE limited would also arrange effective training sessions for the development of the employees and would collect feedbacks from the customers so that to determine the drawbacks and make required initiatives for improving the same.

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Conclusion

With the above report it could be concluded that marketing is an important aspect in any of the organisation which helps in making appropriate actions and business activities of selling and endorsing the products and services along with the customer satisfactions. It has been revealed that the marketing essentials mainly facilitate an organisation to implement various promotional activities and initiate with the development of the products and the services effectively. It has been even found that the EE limited makes use of the sponsorship techniques, advertising and promotion campaigns, social media marketing, etc. The report also observed that lacking in the training and development of the employees had proved to be the major barrier in the internal strength and had restricted EE limited to extract the desired outputs. EE limited acquires remarkable strengths in implying the rules and the bringing technological advancements in the business operations. Moreover, the emergence of new entrants and the global economical changes had to be brought in consideration by EE limited in its marketing processes. It has been also identified that EE limited would be making use of the undifferentiated targeting strategy in order to cover wide area of the region and higher numbers of customer segments.

References

Books and journals

Babin, B.J. and Zikmund, W.G., 2015. Essentials of marketing research. Nelson Education.
Barton, L., 2015. Active Positioning: The Importance of Relevancy. Journal of Marketing Perspectives Volume I, p.48.
Dinis, B. and Berg, I.V.D., 2016. Axiomatics for the external numbers of nonstandard analysis. arXiv preprint arXiv:1605.02551.
Ebert, R.J. and Griffin, R.W., 2015. Business Essentials.
Goi, C.L., 2015. Marketing Mix: A review of'P'. The Journal of Internet Banking and Commerce, 2005.
Gr?dinaru, C., Toma, S.G. and Marinescu, P., 2016. Marketing Mix in Services. Ovidius University Annals, Series Economic Sciences, 16(1).
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Jin, N., Kim, J. and Kim, K.H., 2015, June. THE SERVICE MARKETING MIX EFFECT ON CUSTOMER EXPERIENCE AND CUSTOMER EQUITY IN THE SERVICE INDUSTRY. In 2015 Global Fashion Management Conference at Florence (pp. 838-844).
Luo, A., Roach, S. and Jiratchot, C., 2015. The effect of the 7Ps of the marketing mix on air freight customer satisfaction and repurchase intention.
Nilsson, J. and Selmer, K., 2016. What role do social media play in the market entry strategy for SMEs establishing on the global market?.
Rahmani, K., Emamisaleh, K. and Yadegari, R., 2015. Quality Function Deployment and New Product Development with a focus on Marketing Mix 4P model. Asian Journal of Research in Marketing, 4(2), pp.98-108.
Schlegelmilch, B.B., 2016. Segmenting Targeting and Positioning in Global Markets. In Global Marketing Strategy (pp. 63-82). Springer International Publishing.
Shaw, K., 2015. Foreign Market Entry Strategies. China-USA Business Review, p.395.
Singh, B. and Jaiswal, D., 2016. Green Marketing: A Marketing Framework of'STP'Towards o-Advantage. SMS Journal of Enterpreneurship & Innovation, 2(2).