The objective of this report is to evaluate effectiveness of marketing planning practices for an organizational context. These practices will assist in develop8ing a direct relationship with target customers in order to enhance business opportunities.
- Determine an understanding over the concept and process of marketing.
- Provide an application of marketing concept as segmentation, targeting and positioning over Vodafone.
- Discuss the individual element of marketing mix in the context of Vodafone.
- Evaluate the application of marketing mix in different context.
INTRODUCTION
Business also require policies which can be done inn effective and efficient way. Due to change in plans and policies of society, they has to alter policies. Business runs in market, so it is essential to know what can be done which helps to achieve business objectives in effective and efficient manner. There is important role of marketing department in achieving goals and objectives (Baron and Sissors, 2010). Due to change in business factors employees may get different but when they are guided, then possibilities of positive results is bright with them. There are various ways to promote product and services. But there is requirement to consider time and cost of product. There are changes in demand of consumers, so it is essential to know what can be done with joint efforts of manager and employees. Targeted customer has to kept in mind with which they can analyse measures of marketing. This report is based on Vodafone which is British telecommunication company. Its headquarter is in London, United Kingdom. In this report there is discussion about marketing elements, various costs associated with it. There is important role of micro and macro environment which help to give chance to target consumer in effective way. There is description about all over development of product, it is essential to convince consumer. There are some promotional activities which help to gain competitive advantage. In this there is description about different strategies which has to b e taken in consideration which help to perform activities in better and effective way.
TASK 1
1. Various elements of the marketing process
Marketing means to promote product and services through advertisement and other promotion means. Marketing process means to analyse opportunities present in market, developing marketing strategies, marketing mix and lastly managing these components. Marketing process is essential for performing business operations in positive way. While working in society, there are many changes which has to be taken in association. There is difference in promotional activities of company to perform activities in effective way. While they are taking about, then working style, change in technology, etc. take place.
Situational analysis:
As per situation, there is difference in activities of company. While they are taking about activities which help to achieve targets in effective way. There is change in situation such as reason behind use of tele-communication, etc. are related to situational analysis. After this there will use of technique which help to overcome that situation (Fahy and Jobber, 2012).
Marketing strategy:
Market is the place where techniques are changing time to time. While dealing with these changes they have to make alteration in operations. Market is the place where actions has to be performed in order to overcome negative points. Innovative advertises, CSR activities, etc. are marketing strategies of Vodafone.
Marketing mix discussion:
After making marketing strategies, marketing mix is the technique which provides assistance in product services in society (Hollensen, 2010). In marketing mix 4 elements are considered. They are-
Product:
Vodafone deals in service sector such as internet, 4G services cellular services, broadband services, etc. so it is essential to analyse demand of customer and accordingly services has to be provided.
Price:
Price is one of the essential component so managers of Vodafone has to fix minimum price according to market trends. Competitive pricing strategy is used by Vodafone. EE, Virgin Group, O2, etc. are some competitors of Vodafone. In UK Vodafone provides NECTAR reward points for every & pound 1 spent on calls, text messages, picture messages and ring tones.
Place:
As there are many customers of Vodafone, so this is essential to provide telecommunication services as per their demand. In UK, it has around 300 stores of its own and many independent retailers i.e. Carphone Warehouse.
Promotion:
There are many competitors of Vodafone, so there is requirement of some promotional activities such as advertisement, hoarding which helps to educate society about services.
Implementation and control:
While innovating any activity, it is essential to control them. Merely implementing is not responsibility of manager, they have to control actions and then find best way to overcome negative results.
2. Benefits and costs of a marketing orientation
Market orientation is a technique which helps to focus and discovering needs of customers. It helps to satisfy customer needs and implement changes in services in order to meet demand of society. There are various planning which has to be done by managers in order to achieve gaols and objectives in efficient way. While company is thinking to upgrade technology, it is important to work as per change in market environment. Due to alteration in policies, marketing task can be get affected. There are some cost and benefits involved in marketing process and these are discussed as under-
BENEFIT OF MARKETING ORIENTATION
Customer satisfaction:
Marketing orientation helps to Vodafone to make strategies which are effective and efficient for organisational goals and targets. Customer satisfaction is one of the essential component which helps Vodafone to grow in market and create its own identity.
Customer loyalty:
Vodafone can create good image in mind of customers by providing better services. Marketing educate about services offered by Vodafone and hence customers feel confident in availing services.
COST OF MARKETING ORIENTATION
Research and development cost:
Marketing activities are expensive because there are many activities such as research, promotional activities such as hoardings, newspaper advertisement, etc. So there is requirement of proper research which helps to select best method out of it.
Cost of innovation:
As there are many competitors of Vodafone, so it is essential to come with new techniques and there are some cost associated with it. When managers of Vodafone come with new services, then they have to market services in order to get positive results.
TASK 3
3. How products are developed to sustain competitive advantage
Market competition is always restraint to lower pricing and higher quality standard so that customer easily purchase the services at affordable prices (Lee and et. al., 2013). Every customer want maximum output regarding all the products in which they are likely to invest. As the marketing manager of Vodafone which is telecommunication company require to scan the external market demand in order to know the current market needs and requirement of customers. If the quality standard of product and services is proper and optimum then it can easily attract large customers and company is easily achieve their brand loyalty and goodwill in the market. Further Vodafone is using different products and services as their uniqueness in features and prices in order to gather the whole market attention and it order to increase the market sales of business company require to include some innovative and digitalise features in their product segment that allow them to beat all the challenges of rivalry and retain long sustainable position in market (Gilligan and Wilson, 2012). Further, marketer need to research regarding the current needs and demand of employees and on the basis of it, they make changes in their manufacturing process that allow them to come in market with new and exciting features in their product and services which leads to enhancement of sales and profitability. Competitive analysis can understood more clearly with the help of Porter Generic Model. This helps managers of Vodafone to make strategies according to market trends.
(Source: Porter's Generic Competitive Strategies, 2016)
Cost leadership:
In cost leadership managers of Vodafone has to finalise lower than competitors. As per this principle Vodafone has to fix service charges lower than than competitors. This helps to increase customer range.
Differentiation focus:
As these days there are many organisations deal in telecommunication sector. So it essential to give something different from competitors. If there is no alteration in services then this affects customer satisfaction. With the help of differentiation focus, Vodafone can focus on innovating their services so they can beat competitors.
Cost focus:
As there are varieties of customers who needs telecommunication services. So it is essential to make strategies which helps to keep price of telecommunication services low. This increases customers range and customers and makes good and long term relations with consumers.
Differentiation leadership:
Vodafone can lead market with the help of making policies which are not competent to competitors. Managers of Vodafone must focus on Quality of services, branding, promotional activities, etc. which helps to lead in industry.
Further in order to maintain long term sustainability Vodafone need to include some attractive packages to their services apart from specific demand. Proper analysis of market and competitors assist in developing the beneficial product for organization that lead to accomplishment of objectives and goals (Li and Li, 2010).
3. How distribution is arranged to provide customer convenience
The customer convenience can be delivered with the proper distribution in Vodafone. Further, customer need to deliver product services on online basis in which employees are getting the facility to buy the offers through online sites. Apart from it provide them discount and other beneficial offers which attract customers to buy the products and services. Further the management and distribution system I.e. delivering channel must be arrange in proper manner so that goods must be delivered to customers on proper time period and company also. Apart from it, Vodafone organisation must have effective distribution of informations and proper document to customers in order to gain their trust and loyalty that help in establishing better brand image and goodwill for business (Li and et. al., 2011). Company also include some digitalise and innovative ways in their delivery system so that they can store the product at particular place in which goods are safe and especially for Vodafone which is famous telecommunication brand need to make proper arrangement regarding the safety of data which are preferable by customer.
Vodafone operates in different parts of country, so it is essential to serve society according to their need. They have around 300 stores in UK which helps customer to get prompt services. These days telecommunication is essential at every point of time. There is requirement of cellular services, internet facilities, etc. so to provide convenience to customer they have contract with retail stores also. Managers of Vodafone has to provide quick customer satisfaction which helps tom improve sales and profits of association. Facility of e- recharge is one of the best facility which helps customers to recharge through e- wallet. There are many retail stores through which customer can recharge their call or internet packs. They have advance balance facility for calls and internet in case of emergency. Vodafone has service centres at various places which provides assistance to customers and it brings convenience to them.
4. How prices are set to reflect an organisation’s objectives and market conditions
Every organization require to set the prices in respect of their goods and services according to the market circumstances and in order to win the desired goals or benefits. Pricing is consider as one the important factor which has been set according to market demand and purchasing power of customers otherwise the target audiences is unable to buy the products in time. Before fixing the price for telecommunication services require to analyse the pricing strategy of their rivalry on the basis of which fix their pricing criteria that help in increasing their sales and profitability. In addition to it, at the time of special occasion in every country set the price of products by giving them special offers like discounts and other benefits that attract more and more customers (Liu, 2012).
You may also like:
- Market Analysis Techniques Concept
- E-marketing Ways of Venice Bakery
- Palliative Care Nursing
- Online Discussion Assignment 759 Level 6
UPTO50%
Avail The Benefit Today!
To View this & another 50000+ free
