Contents

1.0 Introduction ................................................................................................................................. 1

2.0 LO1 Explain the role of marketing ............................................................................................. 2
3.0 LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) .............. 3
3.1 Brainstorming of Marketing Mix ............................................................................................ 3
3.2 Cost Benefit Analysis of Marketing Mix ................................................................................ 3
3.3 GAP Analysis of Marketing Mix ............................................................................................ 3
4.0 Develop and evaluate a basic marketing plan ............................................................................. 4
4.1 People...................................................................................................................................... 4
4.2 Products................................................................................................................................... 4
4.3 Price ........................................................................................................................................ 4
4.4 Process .................................................................................................................................... 5
4.5 Promotions .............................................................................................................................. 5
4.6 Place ........................................................................................................................................ 5
4.7 Physical Evidence ................................................................................................................... 5
5.0 Conclusion .................................................................................................................................. 6
6.0 References ................................................................................................................................... 6

1.0 Introduction
Marketing is the business function that identifies customer needs & wants determines which
target markets the organization can serve best & design appropriate products, services &
programmed to serve these markets. However marketing is much more than just an isolated
business it is a philosophy that guides the entire organization. The goal of marketing is to
create customer satisfaction profitably by building value-laden relationships with important
customers. The marketing department cannot accomplish this goal by itself. To provide
superior value to customers it must team up closely with other departments in the company &
partner with other organizations throughout its entire value delivery system. Strategic
management is nothing but planning for both predictable as well as impracticable
contingencies. It is relevant to both small as well as large organizations as even the smallest
organization face struggle and, by formulating and implementing proper strategies, they can
reach sustainable competitive benefit. It is a way in which strategists set the objectives and
continue about attaining them. It deals with making and implementing decisions about future
way of an organization. It helps us to recognize the way in which an association is moving.
Strategic management is a constant process that evaluates and controls the company and the
industries in which an association is involved evaluates its competitors and sets goals and
strategies to meet all existing and potential competitors; and then revaluates strategies on a
standard basis to decide how it has been implemented and whether it was triumphant or does
it needs substitution.

2.0 LO1 Explain the role of marketing

The marketing concept is the technique that corporations execute to satisfy patron's desires,
increment offers, expand benefit and beat the challenge. There are five marketing thoughts
that associations embody and execute. Marketing is a division of the board that tries to shape
approaches on the way to assemble effective institutions with goal consumers. The factor is
to transport what the business enterprise makes instead of making what the market needs.
Such forceful transferring device conveys high dangers. In moving concept the marketer
assume that customers might be persuaded into shopping the object will adore it, inside the
occasion that they don't care for it, they'll potentially neglect their failure and get it once more
later. This is generally quite bad and exorbitant suspicion. The marketing idea holds
conducting authoritative targets is predicated upon understanding the necessities and wishes
of target markets and conveying the perfect fulfillments superior to something contenders do.
Right here marketing the executives takes a "client first" method. Underneath the marketing
concept, customer middle and esteem are the guides to accomplish deals and blessings. The
marketing idea is a consumer focused "experience and reacts" good judgment. The hobby
isn't always to discover the best clients for the object however to locate the right gadgets for
the customers. The marketing idea and the transferring thoughts are two outrageous ideas and
very unexpected from each other. Marketing objectives are stated and it is mainly consider to
enhance the market share by 10 % and to increase the profitability. It is set the monitoring
and controlling functions in order to identify variations compared to the expectation of the
strategic planning.
3.0 LO2 Compare ways in which organisations use elements of the marketing mix (7Ps)
This is an experiment conducted in the test market compromising of actual stores and real life
buying situations without the buyers knowing they are participating in an evaluation exercise.
It simulates the eventual market mix to ascertain consumer reaction. Some of factors are to do
a test market, population size, media isolation, competitive situation, demographic
composition & life style consideration. Test marketing categories are standard test market
where full marketing campaign in a small number of representative cities, controlled test
market is a few stores that have agreed to carry new products for a fee & simulated test
market where test in a simulated shopping environment to a sample of consumers. Test
marketing some of benefits are research provides important information on customer
attitudes, research allows communicating with customers about future product development,
involving customers for development process makes them feel more invested in the product.

3.1 Brainstorming of Marketing Mix

Brainstorming is a group creativity technique by which efforts are made to find a conclusion
for a specific problem by gathering a list of ideas spontaneously contributed by its members.
The importance of brainstorming are which gives new ideas, helps work over the issues,
improves creative thinking, and allows opportunity for synergism within the organization.
Also some of drawbacks are too much time if the group is not properly controlled and is
allowed to run for too long and raising expectations of the brainstorming group by
considering ideas that will never be implemented (www.shutterstock.com, 2017)

3.2 Cost Benefit Analysis of Marketing Mix

The costs associated with talking action are then subtracted from the benefits that would be
gained is the cost benefit cost analysis. To measure CBA use ROI, IRR, NPV etc. Some of
advantages are evaluate projects, budget preparations, establish goals, and risk assessment,
ability to rank and prioritize limited resources so that maximum benefit is realized, enhance
decision making, ability to objectively assess and quantify, helps to meet legislative
requirements Some of disadvantages are complexity & difficult in measuring social cost and
benefits

3.3 GAP Analysis of Marketing Mix

This is use to identify where the company is going and what is expectation or the potential of
the company. In essence, gap analysis compares the actual achievement with the potential
achievement to find the gap in the existing strategy. This gap needs to be filled such that the
company meets its own potential.

4.0 Develop and evaluate a basic marketing plan

4.1 People
That is the place the whole lot starts off evolved, people. First it is crucial that NIKE find out
thru research if there are sufficient individuals famous of a particular styles of objects and
administrations. Frequently NIKE may get a smart thought of the interest for particular items
and administrations through main cautious watchword inquire about. In specific markets
there might be some particular varieties of items that may bear in mind a selected segment of
people. On the off threat that there may be an extreme hobby of specific styles of objects, at
that point this may be wonderful news for NIKE. This will assist NIKE with regards to
making the business pipe, and for destiny item development for rehash offers to that segment
of people not a long way off.

4.2 Products
An extraordinary spot for discovering the styles of objects that the goal marketplace have to
need to get their arms on is within on-line discussions.

 What varieties of inquiries might they say they may be asking in strings?
 What forms of reactions might they are saying they're attending to their inquiries?
 Are there as of now objects handy which can address their circumstance?

On the off hazard that there may be, NIKE need to want to invite theself, "properly, what
could i be able to do to offer a superior item to this accumulating of individuals than my
competitors. What can supply me the brink to emerge?"

Cannot monitor to NIKE how frequently i've been inside one of the Skype bunches i have an
area with wherein individuals are asking where they can discover a specific content that does
"either", or who offers the quality answer for an administration they may be requiring.

4.3 Price
This is actually a place where NIKE must be to a few diploma cautious, further, be privy to
what the objective market can also truly be keen to pay. In the event that NIKE or the
enterprise hasn't made a first-rate call for itself as of now in a particular market, it is-fetched
that people might pay NIKE the varieties of prices that a portion of the greater advertisers or
organizations order.

4.4 Process
At the off danger which NIKE value the item excessively low, at that point it may be taken
into consideration as to a few degree 2nd fee as compared for the rivalries. Of path, within
the event that NIKE attempt and shoot excessively high, NIKE may be capturing theself
inside the foot, on account that people might not suppose the advantages of the object or
management merit the asking cost.

4.5 Promotions
This piece of the manner to the selling plan can include a few elements by using they manner
NIKE have become the word out approximately the object, which include:

• Article showcasing
• Social media showcasing, as an example, NIKEtube, facebook, Twitter and so on.
• JV accomplices
• Media purchases

The mix and how NIKE pass approximately development will rely upon the financial plan,
the message NIKE want to bring, and the gathering of clients NIKE are that specialize in.

4.6 Place
At the start appearance, NIKE may think location is self-obvious. Obviously, NIKE may be
shifting the items or administrations out of the web site; be that as it may, NIKE could use the
utilization of some destinations to permit NIKE to get extra deals. As an instance, NIKE
might need to list the object or management within at the least one associate structures. This
could be amazingly ground-breaking, in particular if the object is typically welcomed and
ends up well known amongst associates wanting to improve for NIKE.

4.7 Physical Evidence

On the subject of internet based showcasing "physical proof" relates to the way NIKE, the
items, or the enterprise is displayed inside the industrial centre. Marking is important. This
could comprise the demonstrable talent in how the gadgets, the logo, and the complete
message that the "image" is trying to get crosswise over to the overall populace is seen.
5.0 Conclusion
The marketing concept is the technique that corporations execute to satisfy patron's desires,
increment offers, expand benefit and beat the challenge. There are five marketing thoughts
that associations embody and execute. Marketing is a division of the board that tries to shape
approaches on the way to assemble effective institutions with goal consumers. The factor is
to transport what the business enterprise makes instead of making what the market needs.
Such forceful transferring device conveys high dangers. In moving concept the marketer
assume that customers might be persuaded into shopping the object will adore it, inside the
occasion that they don't care for it, they'll potentially neglect their failure and get it once more
later. The marketing idea holds conducting authoritative targets is predicated upon
understanding the necessities and wishes of target markets and conveying the perfect
fulfillments superior to something contenders do. Right here marketing the executives takes a
"client first" method. Underneath the marketing concept, customer middle and esteem are the
guides to accomplish deals and blessings. The marketing idea is a consumer focused
"experience and reacts" good judgment. The hobby isn't always to discover the best clients
for the object however to locate the right gadgets for the customers. The marketing idea and
the transferring thoughts are two outrageous ideas and very unexpected from each other.
Marketing objectives are stated and it is mainly consider to enhance the market share by 10 %
and to increase the profitability. It is set the monitoring and controlling functions in order to
identify variations compared to the expectation of the strategic planning

6.0 References
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 Kotler, P & Armstrong, G, (2005), Principals of Marketing, 11th edn, Prentice-Hall of
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 McLean, J. (2005) ‘Management Techniques and Theories’, Manager, the British
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 Mintzberg, H., Quinn, J., and Goshala, S, (2003). The Strategy Process. London:
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 Mullins Laurie J. (2008) Essentials of Organizational Behavior Second Edition.
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 Porter, M. E. (2008). "The Five Competitive Forces That Shape Strategy." Harvard
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No.3 Review