EFFECTIVE MARKETING MANAGEMENT
ENSURES THE FUTURE GROWTH OF THE COMPANY WITH A COMPETITIVE ADVANTAGE
A dissertation
submitted to Wrexham Glyndŵr University in
accordance with the requirements of the degree
Chapter 1, discusses
the aim of research and background of effective management, four objectives are
created in the chapter, and research can complete according to the given
objective. A brief discussion on traditional and digital marketing is also
discussed in chapters that provide advantages to the company. The strategies
adopted by a company to overcome challenges in effective marketing.
In Chapter
2, the literature review section has
discussed different aspects for effective marketing management that ensure
future growth or organizations. Along with this it is observed that the chapter
the importance of digital marketing and traditional marketing has been
discussed. Components related to customer satisfaction have also been
highlighted. Different challenges regarding marketing in the UK market have
also been elaborated in this chapter. Two theoretical frameworks are provided
in a chapter that helps the organization to get comparative advantages.
Chapter 3 the methodology
section mainly deals with different research methods and procedures. It has
also described data collection methods, strategies and limitation of this
research also. It also reflects different kinds of ethics that are maintained
in this research.
Chapter 4: This section
mainly focuses on the research findings and its discussion on behalf of the
survey sessions. In addition, it also enables an individual to analyze the different aspects of the potential participants
during this survey session. Different marketing strategies and factor influence
organisational performances. Digital transformations are also mentioned
Chapter 5, This section
of the research study mainly emphasized the recommendation and strategies that
need to be determined by the business organization as it would be beneficial
for their business growth and productivity.
Table of Contents
2.2 Importance of digital marketing and
traditional marketing
2.3 Components of marketing being followed
for creating a strong customer experience
2.4 Marketing challenges faced by the
organization
2.5
Investigating marketing strategies being incorporated to combat various
business challenges.
Chapter 4: Result/
Analysis and Discussion
Chapter 5:
Conclusion and recommendation
Appendix A: Research instruments
Appendix B: Survey Questionnaire
Figure
1.1: Social media marketing
Figure
1.2: Change in digital marketing spending and traditional advertising
Figure
1.3: Research structure
Figure
2.1: Age distribution of companies within digital economy of UK
Figure
2.2: Share of marketers worldwide through traditional and digital marketing
Figure
2.3: Sales value of Zara in EU market
Figure
2.4: Number of social media users in the UK
Figure
2.5: Number of employees in Intidex worldwide
Figure
2.6: Share of organizations with a content marketing
Figure
2.7: Distribution of worldwide social media
Figure
2.8: Maslow s Hierarchy of Needs
Figure
2.9: Conceptual Framework
Figure
4.5: Duration of working
Figure
4.7: Social media users
Figure
4.8: Frequent use of social media
Figure
4.9: Marketing strategy
Figure
4.10: Impact of right communication tactics on customer retention
Figure
4.11: Ideal conditions for successful marketing strategy
Figure
4.12: Analysis of internal and external environment and its impact on market
planning
Figure
4.13: Impact of proper forecasting
Figure
4.16: Marketing strategies
Figure
4.17: Product demonstrates
Figure
4.18: Effect of marketing management
Figure
4.19: Importance of leadership, decision-making, and organizational structure
Figure
4.20: Key trends associated with marketing management
Figure
4.21: New target segments
Figure
4.22: Marketing management requires digital transformation
Figure
4.23: Essential management factors
Figure
4.24: Effect of marketing management
Figure
4.25: Organizational performance
Figure
4.26: External factors affecting marketing
Figure
4.27: Countless attributes
Figure
4.28: Innovative marketing practices
Figure
4.30: Strategies need to be implemented
Figure
4.31: Cost advantages and differentiation advantages
Figure
4.32: Factors determining competitive advantages
Figure
4.33: Competitive Performance assessment
Figure
4.34: Types of Competitive Market
Figure
4.35: Competitive Strategy
Figure
4.36: Organisational Positioning
Figure
4.38: Factors of marketing research
Figure
4.39: Implementation of digital
transformation
Figure
4.40: Technological innovation
Figure
4.41: Factors contributing to product differentiation
Figure
4.42: Contestable Oligopoly
Figure
4.43: Competitive advantages for positioning a company
The chapter introduces the role of
marketing management on the overall growth of an organization in a competitive
future market. Furthermore, background on effective marketing and a brief
discussion on traditional and digital marketing are also derived. The aim of
research is given in chapter with research objective that is to achieve while
completing. Furthermore, research significance is discussed with the rationale
that consists of issues.
"Effective marketing" (EM)
strategies are adopted by a company to get competitive advantages over other
rival present in market. Management strategies include quality and quantity of
distribution, promotion, and products. Management can follow several steps for
EM in first step analyze data of organization and then set goals that support
members to work together towards same objective. In case, members do not work
together towards same objective then efforts of members cannot achieve future
goals of organization or achieving goals can be delayed. A company that follows
traditional marketing does not promote its products through online method. Wibowo and Ardhianto,
(2020) stated that the company uses print, broadcast, and outdoor
advertising to promote its products. Companies also use newspaper and radio
methods to promote their products however, this method help companies to target
audiences in their local area. In case, a company uses "digital marketing
(DM) methods to promote more audiences can be targeted by the company. A
company can also generate high revenue because a company gets large numbers of
a customer for their products.
Figure 1.1: Social media marketing
(Source: statista.com, 2022)
The above graphs show that company
is using social media marketing to promote its product. Furthermore, it means
that company is adopting DM strategies to promote its products. In 2013, share
of a company is 86%, however, that increased in 2022 and reaches 92.1%
(statista.com, 2022). Regarding this context, people are adding technology in
their life that form digitization of world. Organization that uses DM
strategies can reach a global audience as well as a local audience. The
targeted area of company is enhanced by adopting DM, as well as a smaller
company also competes with large companies. In case a company has a high cost
of products than another player, therefore, digital methods cannot is a correct
way to sell their products. Sudari et al. (2019) derive that companies
can provide more information about products to their customer, in case a
company does provide information about products then a customer cannot attract
to a product. Zara and Tesla can use social media promotion to add new
customers for their existing products.
The company launce new products in
market then company can promote its products on social media platforms that
provide information among customers of products. Hence, a company can attract
more customers, and engagement of customers is enhanced by-products. Wang et al. (2019)
illustrated that in traditional marketing company can targets a small audience,
therefore, it is recommended for companies to use digital methods to target
more audiences. Therefore, a company needs to enhance its productivity and productivity
can be enhanced by good performance of employees. On another side, logistics management of a
company can be enhanced to supply products timely to their customer. In case a
company does not deliver products timely to their customer then customers can
switch products. Hence, it is essential for a company to build good
relationships with their supplier, and supply of raw materials is good within a
company the shortage of products can be reduced.
For a company that provides service
to their customers such as hotels then a company needs to enhance skills of an
employee. Therefore, staff can provide appropriate service to their customer,
and effective communication support employee to give better service to their
customer. Lee et al. (2020) demonstrated that communication in
workplace also supports employee to share their knowledge with their
colleagues, which enhance performance of staff. Team leaders can provide equal
opportunities to all members; therefore, members can provide ideas to solve
issues in workplace. A company to attract customers however, it helps a company
to get feedback from customers to enhance customer loyalty adopts social media
strategies. Feedback from customer support companies to maintain their service
and quality of products. In case a company does not work on feedback provided
by company then company can lose their customer and not get loyal customers.
Companies use traditional methods
for marketing management, which is an issue for a company because revenue
depends on the number of customers. Furthermore, traditional method is an issue
because companies can focus on a local area only they cannot sell their
products at a global level. In current, Method Company supplies its products in
a local market however; DM Company can supply products at a global level
because company targeted their consumer internationally. A company can easily
introduce its products to new customers through a DM strategy.
Figure 1.2: Change in digital marketing spending and traditional advertising
(Source: Statista.com, 2022)
The above graphs show that issuance
is been solved company invest more in DM. For products, companies change in
investment by 13.59% and for services by 18.63% however traditional advertising
companies spend only 0.55% on products and 2.4% on services (Statista.com,
2022). The study shed light on that company is spending more amounts on DM as
compared to traditional marketing. Moreover, it helps a company to bring more
customers for their products and service, as well as company, can get customers
at a global level. Company does not depend only on local community; therefore,
revenue of company is enhanced. A company can understand motives of customers
and behavior, and new products in market can enhance position of a company. A
company can understand its brand and provide better service to customers to
enhance brand awareness. On another side, a company that manufactured products
can maintain quality of products to enhance its image in market.
Company uses 4 Ps strategies that
include product, price, promotion and place to enhance brand awareness. Kim et al. (2018)
elaborated that in products, Strategies Company can focus on a portfolio of
product list, and launching new products can provide more options to customers.
For price, a company can focus on price of products and maintain quality of
products at an affordable price in case products price are high then fewer
customers can attract to products. On another side, a company chooses location
wisely for product supply in case company supplies products and need for
products is less. Liu et al. (2019) describe that, an overflow of products
can be seen in market, and product prices can be less, which brings loss to
company. Therefore, it is recommended for a company that company can target
those areas that have huge demands for products. Promotion is essential for a
company because promotion introduce product information to their customer. In
case, a customer does not know about products then a customer cannot buy
products. Hence, a company needs to promote its products. A company can promote
its products through digital and traditional methods to get advantages.
However, companies mostly use DM because methods provide facilities to a
company to target more customers for products and services.
The study sheds light on the issues
belonging to the effective strategy of marketing in an organization for a
competitive market.
The research aims to find effective
marketing management to ensure the future growth of the company. The comparison
between traditional and digital methods can provide detailed insight into
getting advantages in market. The aim of the research is also to investigate
challenges faced by the organization in EM.
● To identify the importance of
digital marketing and traditional marketing
● To investigate various components of
marketing being followed for creating a strong customer experience
● To evaluate marketing challenges
faced by the orginzation
● To investigate marketing strategies
being incorporated to combat various business challenges
● What is the importance of digital
marketing and traditional marketing?
● What are the various components of
marketing being followed for creating a strong customer experience?
● What are the challenges faced by
organizations in marketing?
● What are marketing strategies
adopted by the organization to combat various business challenges?
The purpose of research is to find
EM for a company to get advantages from market. In case a company does not
adopt appropriate strategies for its marketing then company cannot target right
audience. Elements of marketing strategy include development of customers can
better experience its customer. Marketing research enables opportunities for a
manager to find opportunities in markets such as requirements for new products
and quality of existing products. Lee et al. (2018)
suggested that, management can make a strategy such as investing in research
departments to launch new products in market. On another side, managers can
also monitor on quality of products, which helps organizations, maintain
quality of products. Moreover, companies can provide appropriate services and
products to their customer. Company is investing more in DM as compared to
traditional method that is shown in the above graphs. A company can provide
training to their employee to enhance their performance in workplace because DM
methods bring more customers for products.
Figure 1.3: Research structure
(Source: Created by learner)
The chapter summarized as a company
uses Traditional and DM methods to promote its products. However, organization
is investing more in DM methods to target more audiences. Research questions
are given in chapter that helps researcher further deliver a research paper. EM
adopted by a company helps a company to get advantages from their rival.
Chapter 2: Literature review
2.1 Introduction
The
literature reviews section deals with proper analysis of effective marketing
management with its future growth with different competitive advantages. In
this chapter different uses and importance of digital marketing and traditional
marketing is going to be discussed that might help to take important approaches
in future regarding both the marketing strategies. In this chapter different components
and other aspects of digital marketing are also going to be discussing with
some theories that are reliable with this research, some literature gapes are
also being discussed that shows the importance of this research regarding this
topic.
2.2 Importance
of digital marketing and traditional marketing
The word digital marketing depicts those kinds of
marketing that uses any kind of electronic devices is called digital marketing
of a particular organization. Moreover, marketing strategies that are related
with digital marketing are called digital marketing strategies. In the present
time, international market is proceeding toward globalization and digital
marketing is the base of globalization. Therefore, English market is also
heading towards digitalization of different markets of different industries. Furthermore,
the economy of the country is also heading towards a digital economy and as of
2012. Ghahremani-Nahr and Nozari,
(2021) derive that multinational Companies and SMEs of UK all are implementing
different digital or electronic tools in their business processes to improve
their business operations. Moreover, implementations of electronic equipment,
IOT equipment, business software, analytical software all are used to improve
productivity of these business organizations. It also improves employees work
quality and reduces fewer amounts of errors in different business operations.
Figure
2.1: Age distribution of companies within digital economy of UK
(Source: statista.com, 2022)
The above graph represents age distribution of
companies and adaptation of the digital economy of the UK. The above statistics
shows that 63 % of companies are up to 10 years old who are involved within
digital economy of a company in the UK (statista.com,
2022). Digital
marketing is also called online marketing that is associated with promotion of
brands, implementation of marketing strategies through social media, email, web
based e-commerce sites, and so on. On other hand, text and multimedia messages
also act as a marketing channel of digital marketing. Traditional marketing is
a type of marketing process in which marketers mainly use traditional marketing
strategies for their different business operations. Nabieva, (2021) derive that
in UK, business organizations use traditional platforms like print media, phone
call advertisements, broadcast media and so on for their business processes and
marketing strategies. In the age of innovation, business firms of the UK need
both traditional marketing and digital marketing to keep themselves in these
competitive national and international markets. However, business organizations
still use traditional marketing and they promote their different products and
services using traditional marketing modes and spend huge money on them. For
example, when customers of different age groups watch televisions or live
matches the advertisement of several products was done during break time. It
helps potential customers to get insight information regarding different
products and their ranges that companies offer. Furthermore, traditional
marketing has been done in the form of television broadcasting method, radio
broadcasting method, newspaper advertisement, magazine marketing, phone
calling, direct mailing, networking and so on. In present time, television
marketing and network marketing are most popular marketing processes in
traditional marketing. Practices of digital marketing have come up with a wide
range of advantages for different kinds of business organization in different
industries. It helps business organization to think about their several weak
areas and implements solution regarding those issues.
Figure
2.2: Share of marketers worldwide through traditional and digital marketing
(Source: Statista.com, 2022)
Above graph shows, that most of marketers of
international markets think that digital marketing is better than traditional
marketing. Moreover, they also said that traditional marketing also has its own
importance and it cannot be neglected. A business can run with its full
potentiality and promote future growth when digital and traditional marketing
are both done in a balanced manner.
Digital marketing is very simple to use and it covers a wide range of
customers with ease. In digital marketing, business firms can target exact
audiences online with the help of the internet. Adults are considered most
potential buyers in any market and 92% of UK adults use internet and social
media sites in UK (Ons.gov.uk, 2021). Therefore, business firms of UK can
easily reach their target customers for their advertisements of different
ranges of products and services.
Checking different social media is an integral part of
daily life for all, and as small advertisements in these social media
influences the buying behaviours of customers belonging from different age
groups. It not only helps marketers to improve their businesses but also helps
the customers or buyers to get an informative detail regarding a different
product or services. It drives best results for a business and builds its own
online presence (Bala and Verma, 2018). It also allows business organizations
or marketers to reach more leads who are interested in those products or
services. Digital marketing is also important for the growth of entry level
organizations in UK market because it takes very less capital to invest in
their businesses.
It also allows them to compete with large competitors
in UK market and helps to provide their potential business for Customers. Othman
et al. (2020) stated that digital
marketing also allows monitoring of business digitally and also helps to do
several optimizations in their businesses. Traditional marketing allows them to
connect with local audiences and establish credibility in UK market. It also
helps to reach a more diverse audience of the country. Therefore, digital
marketing and traditional marketing are both important for different business
organizations of the UK market that operate nationally and
internationally.
2.3
Components of marketing being followed for creating a strong customer
experience
Marketing component plays a huge role in development
and future growth of a business organization and it helps create a strong
customer cluster. In simple words, a marketing component helps to increase the
number of customers of any particular brand or company. 7Ps of marketing are
the most crucial factors that can be used to create strong customer experience
and customer retention. There are seven components of marketing that can be
used to create a strong customer experience in UK market. Those seven components
are product,
price, place promotion, packaging, poisoning and people. Products are
the most important component to create a good customer experience in the
market. Gilboa et al. (2019) derive
that a business organization is mainly known for its product and services.
Therefore, different ranges of products act as the main factor for good
customer experience. Customers get attracted due the uniqueness of a product
and quality of a product. Business organizations that can provide better
quality with more uniqueness may attract a larger number of customers.
Organizations may also include extra products for
their customers that may influence their buying behaviour, those products or
services may also support the main product or service. Product of a company is
mainly responsible for creating a good market because explicit service from a
particular product promotes customers to buy those products repeatedly.
Different products or services provided by individual organizations should also
provide psychological benefits to their customers and they must feel more confident
and secure with the product. It increases customer loyalty toward the brand and
creates good customer experiences. L pez et
al. (2021) considered that as an example Zara is one of the largest textile
manufacturer companies in the UK and it provides a good quality of products in
their stores. They also provide different accessories that support the main
product. These approaches help Zara to increase its sales and productivity In
EU market. Wide range of good quality apparels and accessories helps Zara to
create good customer experience and increases customer loyalty. It increases
productivity and net annual sale of the company and promotes its development
towards future.
Figure
2.3: Sales value of Zara in EU market
(Source: Statista.com, 2021)
Above graph shows how the product factor of marketing
helped Zara to increase its sales values in EU market. According to the above
graph, company's sale value was 2049.3 million UK Pounds and in 2020, net sales
value was 2239.4 million UK Pounds. It shows that maintaining good product
quality and availability of a wide range of products increases the customer
engagement in company and promotes its growth. For building, a strong
customer-experience price factor is also as important as quality factor. Price strategies
also affect how a customer reacts to a product. In a market most of the
customers predicts quality of a product and think that higher price products
may have beer quality. Some business organizations use a high price strategy to
attract more and more customers. At same time, determination of right price for
a product also affects customer satisfaction rate.
Most customers want those products, which are value
for money. Therefore, it means they must get right quality of products for
right price range. Place and promotion are also two components that are
important for creating good customer experience. Right product should be
launched and its promotion should be done properly. Siripipatthanakul
and Chana, (2021) identified that most customers often tend to purchase their
services or required products from nearby where they live. It means a business
organization is likely to make a sale if that particular organization chooses a
particular location that is closer to its target audiences. On other hand,
effective promotion is a key factor for providing information about a product
or service. Furthermore, it is important for both multinational and SMEs to do
effective promotion for their products or services. Informative promotion can
be done using advertisement, digital advertising in social media, live
streaming and so on.
Figure
2.4: Number of social media users in the UK
(Source: statista.com, 2022)
The above graph shows that companies in the UK use
social media platforms widely to reach more and more target audiences for
promotion of their products. These promotions help to interact with customers
regarding beneficial aspects of a product or service. Therefore, promotion
factors also help to create good customer experiences in UK market. People are
also an important component of market that helps to create a good customer
experience. The people who are working directly and indirectly with a company help
to increase trust of customers regarding a particular product. Physical
evidence and process are also important for good customer experiences.
Customers always demand those products that have a
good process of delivery or any other service. Therefore, a smooth business
process is very important to create a good customer experience. At last,
physical evidence is also important, as it helps to judge the quality of
services or products a company provides. It acts as a tangible item that is
taken by customers as a proof of a purchase. It also shows the cleanliness and
hygiene maintained in a particular product or service. Right perception and
right physical appearance of a product helps to create a good customer
experience. Therefore, these components of marketing need to be followed to
create a good customer experience.
2.4 Marketing
challenges faced by the organization
Most of the business relies on the marketing for
achieving their goals and objectives and therefore it becomes vital for selling
products and gaining customers. Marketing is considered as an important process
and every important process holds its own challenges. Marketing also has many
challenges, which may influence the business of an organization. Paul, (2019)
considered that companies or business organizations who can handle these
challenges are being profitable in UK market. Therefore, here are some common
challenges that marketing teams may face and implement potential solutions.
Initial challenge is recruiting right and sufficient talents, it is very
important to provide employment to the right person as per the demand and
requirements of a business organization. Right employment with the right
workforce not only helps to promote a good business process but also improves
the productivity of a business organization. For example, Intidex
Zara only recruits those employees, which have knowledge regarding textile,
business management and so on. Most of the MNC and SME first fail to recruit
right talents for their business and they fail to implement effective marketing
strategies for their products and services.
Figure
2.5: Number of employees in Intidex worldwide
(Source: Statista.com, 2022)
The above graph shows that from 2019 Zara has
decreased their requirement rate to choose the right talents for their
marketing and business processes. Moreover, another challenge for marketing is
to maintain a sufficient budget. Most of the marketers face lack of funding or
resources for their marketing strategies and approaches. Lack of funding may
prevent marketers from reaching their potential customers and promote slow
company growth. Furthermore, due to lack of funding most of the company gets
slow development growth for the future. In a marketing process, finding the
right tools is also a big challenge for the marketers. Marketing tools and
tactics change rapidly with time. Same marketing tools and tactics cannot be
used for a particular for all time-periods and different locations. Therefore,
it is very important for marketers to choose the right tools and tactics for
their marketing processes of various products and services.
Marketing tools also can change as per the
expectations of targeted customers. It is important for the company to use
current but most effective trolls and tactics to attract and retain customers.
One of the most famous customer tools is customer-relationship management
software. Various kinds of software may help to develop effective business
strategies by doing proper monitoring and observation of targeted markets.
Analytical software can also be used to track different kinds of matrices that
are related with targeted market in UK (Brown et al. 2019). Marketing automation tools can also be used for
markets or marketing teams to complete customer purchase processes. Another
biggest challenge for the marketers is retaining customers for the company.
Retention of customers is an important goal in marketing and companies take
different approaches to retain their existing customers. Most of the companies
always tries to use on attracting new customers but fails to retain their
existing customers therefore, for marketers it becomes a challenging task.
Marketing team applies different offers regarding their products and services
to retain their customers.
Zara provides huge discounts for their potential
customers in festive seasons with various coupon codes and promo codes. These
not only increase sales of products but also help to retain customers in UK
market. This helps a customer to feel special and valued and increases the
average customer lifetime. Increased competition is also another challenge in
terms of marketing. Most probably digital marketing has increased competition
in UK market as MNCs and SMEs compete on the same platform. Bauk et al. (2018) identified that channel,
Burberry, Ralph Lauren, Louis Vuitton, and many other companies give high
competition to Zara. Therefore, marketing team must focus on similar companies
and their business patterns. It allows marketing teams to understand business
and marketing strategies of competitors and apply appropriate strategies for
effective business processes. On other hand, Burton, River Island and other
small companies also affect business operations of Zara. Therefore, it is very
important for business organizations to solve challenges of marketing and
promote development for their firms.
2.5
Investigating marketing strategies being incorporated to combat various
business challenges.
Market penetration
A company can focus on current
selling of products to an existing customer. Companies can penetrate market by
lowering price of existing products. Hashem, (2021)
stated that companies can adopt DM methods to enhance brand awareness and
products can be modified to solve issues of customers. In case a company does
not modify products according to requirements of a customer then company can
lose its existing customer. The company can also partner with other company
that allows technology and knowledge share among companies. Then, area of
market captured can be enhanced and both can provide better service to their
customer. Companies get an advantage by price penetration that companies can
capture a large market for their products. A company can easily pull customers
from other companies and product demand can be enhanced. However, a company can
also enhance brand loyalty in long term.
Figure 2.6: Share of organizations with a content marketing
(Source: Statista.com, 2022)
From above graph, it is seen that in
2019, 77% of companies used market penetration strategies to gain a competitive
advantage while in 2021 it reaches 97% (Statista.com, 2022). However, it is
also essential for a company to reduce price of products according to current
market. As an example, Tesla used aggressive marketing to get an advantage in
market. However, this strategy helps a company to enhance their sale and
generate more revenue.
Market development
A company to sell existing products
to new customers adopts the strategy. Alkasim et al. (2018)
derive that new products can easily attract new customers however, for existing
products; it is difficult for a company to attract new customers. Therefore, a
company can maintain good quality products that bring new customers or services
provided by company. The company can
promote the products and services to those audiences that do not know offered
by company. Hence, companies can get
more audience for their products.
Figure 2.7: Distribution of worldwide social media
(Source: Statista.com, 2022)
The above graphs show distribution
of social media across the world that brings opportunities for a company to
easily promote their products. The distribution of social media is 26% in
Eastern Asia and 18.44% in southern Asia. Similarly, in south and northern
America is 6.68% and 9.47% respectively (Statista.com, 2022). Furthermore, a
company can easily promote its products on the social media platforms to
attract more customers.
Product development
Present methods can be an effective
method to enhance several customers because companies can invest more amounts
on their research department. Hosseini
et al. (2018) considered that investment
in a research department can enhance quality of products, as well as company,
can also modify its products. Department can modify design and color of
products according to requirements of customers. In case, company does not
modify products according to requirements of customers then company can lose
its customers. However, investment in research departments can bring advantages
for a company because a company can modify products faster than other
competitors (Lahti et al. 2018). Modification of
product provides includes five stages first management can generate ideas then
ideas can be shared among members. In third stage, members can develop concepts
for modification of products and products can be modified. At last, stage
includes delivery of latest products to their customer. The marketing
department can analyze trends present in markets such as color and design then
ideas can be applied to products to provide new designs in market.
Diversification
A company to add more products to
its supply chain adopts strategies. The
company adopts diversification strategies to grow its business. For example,
hotels provide lodging facilities to their customer, and hotels can introduce
restaurant facilities for their customer, which shows diversification of
hotels' business. Juanamasta et al. (2019) classified that diversification
is an effective method to enhance trust of a customer in a company because
customers are using company products for a long time. However, customers can
also get other products from same company and loyal customers can buy those
products. On another side, diversification brings a competitive environment to
market because other companies are providing similar products in market.
However, a company gets an advantage in that company has more customers as
compared to other new companies. The company can only focus on product quality
to gain a good position in the market. Zara has a business in clothes and
building a good image in the market however, company wants to diversify its
business in home decor products. Home decor products have good potential in the
market therefore; Zara is expanding their business home decor market. Companies
get an advantage in market because company has already built a good image in
market that provides benefits to company to enter in market.
Maslow s Hierarchy of Needs and
Consistency Theory is selected for effective management; according to
Maslow's theory, psychological needs of human can be filled by an organization
that requires safe environments for an employee. Shi and Lin (2021) recognized that employee interaction can be
enhanced in a workplace that enhances teamwork in workplace. All employees and
customers can get respect while an employee in a workplace comes to form
various cultures. Management can provide training to their employee to meet
self-actualization needs.
Figure 2.8: Maslow s Hierarchy of Needs
(Source: Lee et al. 2018)
Employees can feel safe in workplace
and team spirit can be enhanced. Capabilities of management can be enhanced
therefore management can solve complex issues in workplace. Ghatak and Singh, (2019) stated that in case a
company applies, theory in their management then employee retention can be
enhanced and enhances productivity of organization. However, there are some
limitations in theory such as human satisfaction cannot be measured. The theory
is simple to understand that can be easily applied by management and manger can
easily consider basic human nature. Employees can respect each other at
workplace and in service department and communicate effectively with customers
to provide well service.
Consistency Theory
Management can use theory; in this
theory manger motivate staff to enhance their performance. Berriche et al. (2019)
recognized that manger use theory to make decisions within an organization that
enhances worker engagement. Furthermore, a company gets advantages from their
reveal by enhancing product quality. Manger can do commitment to employees to
gain the trust of an employee. Manger can do commitments such as good services
provided by staff, and manger can give awards to employees for their
performance. On another side, consistency affects on
quality of work including attendance of employees and performance of employees.
Moreover, it also encourages other employees to enhance their performance
within workplace.
Theory develops discipline and
self-control of employees therefore; employees can maintain discipline in
workplace. Management can track on performance of an organization and focus on
development areas to grab opportunities from market. Management can analyze
various products from market and try to match quality of products and enhance
product quality. Therefore, a company can get competitive advantages, as well
as company, can also improve its service to attract customers. In case company
provided less service as compared to market then business of company can be
affected. Hence, a company needs to provide better service to their customer.
The previous research does not
discuss various strategies adopted by companies to gain a competitive
advantage. However, in current research strategies adopted by a company are
discussed. An example of Tesla and Zara is discussed in the paper that shows that
company has gained competitive advantages. In previous researches
implementation process and their implementation strategies regarding digital
marketing have not been discussed. Moreover, alignment digital marketing and
traditional marketing to gain a competitive advantage have also0 not been
discussed in previous researches. Right use of marketing factors in digital and
tradition market have not been discussed in previous research; in this research
right use and right strategies regarding use of these factors have been discussed.
The previous research does not describe strategy adopted by company however; in
current research, social media marketing strategy is recommended to company.
Social media has expanded at a global level that provides advantages to a
company to introduce their products on a global level.
In literature review chapter mainly discussed aspects of digital
marketing and traditional marketing regarding future growth have been discussed
with the support of few literature journals. Different factors of digital and
traditional marketing g have been discussed as per their use in this research. Main
purpose of this research is to find the key aspects of digital marketing and
traditional marketing for future marketing implementations. Some theories that align
with this research topic have also been highlighted. The gaps between previous
researches and current research have also been highlighted in this chapter.
Chapter 3: Methodology
3.1 Introduction
The
methodology chapter mainly deals with the different approaches that are taken
to process research regarding effective marketing management. In these chapter
data collection methods a well as limitation of thesis research, data sources
and so on is going to be discussed here. Research design and research timeline
is being provided for better analysis.
3.2 Research philosophy
In this
research positivism, philosophy is going to be used as a research
philosophy. Research philosophy is mainly considered a system, which includes
research thought, reliable knowledge is implemented through which objectives of
research are obtained. ukauskas et al.
(2018) illustrated that in simple words; it is a base of a research, which
includes choices of research strategy, problem formulation, collection of data,
processing of data and then analysis of these data. Research philosophy is
important because it mainly provides information regarding nature, source and
development of knowledge. It improves all required processes of data collection
and helps to find right outcome from research. In this research, positivism has
taken as a philosophy that mainly adheres to view only that factual knowledge.
This knowledge is mainly collected through observation and includes different
measurements that are trustworthy. Wulfmeyer et al. (2018) state that positivism
philosophy mainly depends on observations that are observed and it leads to
statistical analysis of research. Moreover, positivism philosophy has chosen
for this research because in positivism studies, the observer or researcher is
independent from different kinds of studies and it does not hold any kind of
human interest within the research. This philosophy also depicts that research
is empirically observable 3hrough human senses.
3.3 Research approach
In this
research, deductive approach has been taken for doing proper planning regarding
effective marketing management. Research approach mainly deals with different
plans and procedures that are used to do proper research processes. In this
research the data are collected with the survey, it means the data collected form
primary quantitative method and these collected data helps to do proper
analysis of this research. Research approach is selected by researchers to
collect various kinds of data, analyze those data and
interpret these data. Deductive approaches have taken in this research because
it is concerned with development of hypotheses that are based on different
existing theories. It means deductive approach mainly explores previously known
phenomena or theory. Furthermore, it also tests that theory that it is valid
with different circumstances regarding effective marketing management.
Moreover, it mostly follows path of logic very closely therefore, it is chosen
for this research. Typical planning in deductive approach mainly consists of
the process: theory, hypothesis, observation and Confirmation. Harris,
(2019) concluded that it allows explaining possibilities between main concept
and variables. Therefore, it means different kinds of possibilities have been
used in research process that arises between main concept and variables.
Deductive research approach also allows to measure main concept qualitatively.
Moreover, it provides important knowledge of concepts that are practically
assumed by real participants or human beings. This research approach also
provides possibilities that generalize different research findings that rely on
certain extinct.
3.4 Research design
This
research holds the descriptive research design; it mainly refers to framework of
different market research methods and different market research techniques that
are used by researchers regarding effective marketing management. Design of a research
allows them to do proper utilization of these methods, which are suitable for
this study, and helps to set upon their studies in future time as well.
Descriptive research design allows obtaining different kinds of information
systematically. Descriptive design also helps to obtain knowledge or
information form described situation or population also. Moreover descriptive
research design has been taken. This research design may help to provide real
time data in target market. Therefore, it is the main reason behind choosing
descriptive research design in this research. McNichols and Stubben (2018)
identified that more especially; it helps to answer those questions that are
related with the research problems and research process issues. Descriptive
research design helps researchers by enabling them to develop in-depth
understanding of effective marketing management. Participants provided their
answers as per their own assumptions and they also provided answers of those
questions anonymously. Research also has Investigation control over different
variables for research and allows understanding or studying participants in
natural settings. Ajibade (2018) suggested that few advantages can allow the
use of descriptive design in research. Moreover, it is very cost effective and
takes very less time. Furthermore, it can also be used for many different
purposes of this research and allows a cost effective for research. Quickly and
cost effective phenomena of this research design make it a versatile method of
gathering data.
3.5 Data collection methods
In this
research, primary quantitative data collection methods have been chosen
for research regarding effective marketing management. Data collection methods
are mainly divided into two core dividends- primary data collection method and
secondary data collection method. Thai research is based on different marketing
aspects therefore, primary quantitative data collection methods have been
chosen for this research. Moreover, it allows collecting different kinds of
data directly from human sources therefore; it is also called source data. Sileyew, (2019) suggested that primary quantitative data is
gathered from different close-ended survey questions; global market have been
chosen as place to collect this data because it helps to provide a wide verity
and wider range of audiences in the market related with digital and traditional
marketing both. First advantage is, this data collection method is inexpensive
and it can be easily send out to many people. More participants mean more
accurate answers and researcher become flexible to choose the right amount of
participants as per their choice. In any case, if researchers think to increase
number of participants as per their needs and requirements then they are
flexible to do this easily. It also
allows participants to provide their answers anonymously. They have independence
to choose answers as per their choice and thinking. Therefore, primary
quantitative data collection method is chosen for this research.
3.6 Data sources
In this
research, data have sourced from a survey, which is a close-ended
survey. In this research data collection have been done with the help of
primary data collection method and in primary method qualitative aspect of data
collection have been chosen to get better outcomes. Participants provided their
answers as per their own assumptions and they also provided answers of those
questions anonymously. In this research, close-ended surveys have chosen due to
various reasons. However, it helps to collect data in a quick manner and in an
easy way also. Source of collected data is independent and different form
answers of each participant. Most probably, Close-ended questions have made it
easier for participants to choose their answers in an easy manner. This data
source also helps to avoid irrelevant and irresponsible answers. These questions
are designed inn aspect of potential growth with digital and traditional
marketing. Some questions have been
taken from previous researches that help to get some important data. Rutberg
and Bouikidis, (2018) evaluated that it also provides
accurate areas of analysis of those data. These data sources also help to
compare answers of different participants, statistical values can be easily
obtained from this, and a statistical value is one of the most helpful data for
a research. Therefore, survey data sources provide better understanding through
various answer options.
3.7 Data analysis
Close-ended
surveys hold few questions and for answers, few options have provided for that
particular question. In this research, the close-ended survey had 36 questions
and 51 participants took part in this survey. In this research, close-ended
survey is chosen because research topic is based on effective research
management that leads a future growth for a business organization. This
research is done on a particular business organization or particular industry
therefore; to collect open source data a close-ended survey has been chosen.
Researchers have limited number of participants are 51 in numbers because they
got enough data for this survey. Oca a-Fern ndez and Fuster-Guill n, (2021)
recommended that according to collected data, each participant has their own
assumption regarding effective marketing management and they have provided
answers as per their own perspectives. The collected data framed with the help
of some computer software like Google survey and so on. Pie chart data is
provided by the software by calculating static data. Regression analytical
technique is used these research to analyse the collected data. It is also analyzed that most participants think that effective
marketing management is very helpful for future growth of any business
organization. It is also found that every participant is satisfied form asked
different questions that have been asked in the survey. For research, proper
understanding of every question is very important to get a proper result.
Therefore, it is analyzed that participants did not
face any issues regarding research questionnaires and it was well
understandable. On the other hand, result data of every participant has not
disclosed with other participants and collaborative statistical data of whole
survey have provided as an outcome of data collection.
3.8 Reliability and viability
All data
collected in this research through primary quantitative data collection
techniques are reliable for this research. Lowen et al. (2018) evaluated that questionnaires asked in this research
are relatable with marketing management, therefore it can be easily said that
the collected data through the close-ended survey is mostly reliable with this
research. All the collected data for research is taken by maintaining all the
procedures of a research. Research has their own flaws and mistakes and no
research can be flawless or fulfils all possible aspects regarding a research.
No aspects regarding this research have hidden from all the participants. Data
provided in this after proper conformation form participant s side to increase its
viability also.
3.9 Ethical consideration
Ethical
consideration of a research includes the set of principles, guidelines and set
of ethics that helps to do a different research processes without any
resistance. Snyder, (2019) rectified that in simple words, research ethics are
implemented in a research to do various actions regarding the researcher with
proper justification. In this research, ethics have also implemented very
effectively because primary quantitative data collection methods have used
here. Sapkota (2019) derive that principles of this research include voluntary
participation of people in the survey of this research and other research
processes. Research ethics also holds confidentiality, result of communication
and potential of harm also. This research mainly maintains confidentiality of
participants information. Participants are also not vulnerable in any ways it also
does not cause any kind of personals and professional problems.
These principles have helped the observers to
protect the rights of research participants. Therefore, it means, researchers
have maintained common decorum of research and fulfilled all rights of
participants in this research. Goals of each and every research includes deep
understanding of real-life phenomena, studying effective treatment regarding a
phenomena and therefore maintaining a common code of conduct becomes very
crucial for a right outcome of a research. In this research, information
regarding various processes and action related information have provided to
every participant. It helps to enhance research transparency and research
validity also.
3.10 Research limitations
The research
has own limitations through various research procedures done or taken in
research. Newman and Gough, (2020) suggested that the limitations of a research
are those shortcomings, which lead to unavailability of resources, insufficient
or small sample size or flaw level of methodology and so on. Furthermore,
research has their own flaws and mistakes and no research can be flawless or
fulfils all possible aspects regarding a research. Few limitations are also
available in this research. Sileyew, (2019) evaluated
that this research has conducted a survey and it is not sure about it that none
of the questions has hurt feelings of any participants in this survey. There
are several challenges that may be faced by in collecting data regarding thios research topic. In case response rate is low then the
different way to recruit the participant is going to considered collecting a
good sample size data. There is challenge regarding random selection of answer
by the participants. In some cases, participants choose their answers in a
randomized manner. It impacts the outcome of the research and sometimes
research may get failed due to this. Patil, (2018) recognized that different
participants belong from different kinds of backgrounds and it is very sure
that any of those various questions may affect their personal feelings also.
The research also lacks information of all previous studies regarding effective
management marketing. Primary data collection methods have used for the
research, therefore it lacks to provide secondary data from different previous
research related to marketing management. Copes et al. (2018) elaborate that secondary data collection methods
allow analysis of previous statistical data of previous research but in this
research only primary quantitative data have collected and it lacks statistical
data of marketing management. Moreover, this research has not done in an aspect
of a particular company or particular industry. Therefore, outcomes of this
research may vary for different industries and different business
organizations.
3.11 Summary
In this
chapter the whole process of research, procedure and planning have described.
Furthermore, the main purpose of this research is to provide a brief analysis
of different research procedures. In this chapter research design, research
approaches, data collection methods, and research design have also discussed
here. Limitations of this research have also highlighted here with proper
justifications. Ethics maintained in this research have also highlighted in the
whole research procedure.
3.12 Research Timeline
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Particulars |
Week 1 |
Week 2-7 |
Week 8-11 |
Week 12 |
Week 13 and more |
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Topic selection |
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Literature reviewing |
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Method selection |
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Data collection |
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Data analysis |
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Findings and discussion |
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Recommendations |
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Final conclusions |
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Presentations |
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Final write-up |
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Chapter
4: Result/ Analysis and Discussion
4.1
Introduction
This section
mainly deals with the research findings and their analysis regarding their
primary data collection methods. In addition, a brief discussion has also
occurred in this section regarding the results of every survey question as it
enables the individual to understand the broad perspectives of this research
study.
4.2
Findings
Figure 1: Descriptive Analysis
Descriptive Analysis
This section analyzes the resulting
output of the survey. All the questions have been taken into consideration for
descriptive analysis. Validity and reliability have been checked with skewness
and kurtosis measurements.
Demographic
Figure
2: Gender
Figure
2: Age
Figure
3: Work Experience
In the case of gender respondents,
it has been observed that the mean is 1.61, which suggests the male and female
ratio of respondents is 1.61. Moreover, the observed skewness value is -.467
which suggests the data is fairly symmetrical for this variable as the value
lies in the standard skewness range which is -1 to +1. Moreover, the observed
kurtosis value is -1.876, which indicates that data is symmetrical in normal
distribution as the value ranges between standard Kurtosis ranges which are -3
to +3.
In the case of job title , observer
skewness value is 0.79, which suggests that data is symmetrically distributed
as value is within normal distribution range. The data also suggest there is no
outlier in the data, therefore it can be considered for further research.
Furthermore, the obtained kurtosis value is -.1.279, which suggests that it is
negatively tailed on normal distribution. In the question of using social
media, it has been observed that all the respondents opted for the same answer;
therefore obsessed data is 1 in all measurements.
In the case of different social
media platforms obsessed with skewness, the value is 1.704; this implies that
the data is highly skewed as data is more than normal skewness range. On the
other hand, the obtained Kurtosis value is 1.628; this suggests that data is
symmetrically distributed on normal distribution. It can also be said that
there are no outliers in the data set and the data can be considered for
further analysis. In the case of marketing strategy significant to business working,
it can be observed that the resulting skewness value is -.142. This skewness
value indicates that data is skewed. Moreover, the observed kurtosis
value is -1.538, this suggests that it is symmetrically distributed and data is
not too peaked. On the other hand, in the case of ideal conditions for
successful marketing strategy, observed skewness values is -.491, which
indicates their data for this question is negatively skewed as the value is
negative. Speaking of its kurtosis value, it can be seen that -.847 is kurtosis
value. Therefore, it can be said that data is left-skewed and there are no
outliers in the data set as the values range between -3 to +3.
The skewness and kurtosis values of
business goals respectively 0.629 and -.543. Therefore it can be said that
the data is positively skewed as the obsessed skewness value is positive.
Moreover, it can also be said that it is negatively distributed in the normal
distribution.
In the case of feature of marketing
strategy , it can be observed that the obsessed skewness value is -.563, which
also indicates that data is negatively skewed. The observed kurtosis value of
this variable is -.852. This indicates that the data is left-skewed and data is
not peaked. Moreover, it can be said that there are no outliers in this
data.
QQ Plot
Figure 2: QQ plot of Working in the
marketing and sales department
The above-mentioned QQ plot shows
distribution of data in normal or common distribution. The graphical
representation of data shows that data is symmetrically distributed on the data
set. It can also be said that there are no outliers in data and can be
taken in further statistical analysis.
Figure 3: QQ Plot of Ideal
condition for successful marketing strategy
This QQ plot shows data of the
question on Ideal conditions for a successful marketing strategy. It can
be seen that the data is symmetrically described on the normal
distribution.
Histogram
Figure 4: Histogram of Business Goal
This histogram shows the
distribution of data, in this case it can be obsessed that the data is rightly
skewed as the tail of the data is going to the right side.
Correlation
Figure 5: Correlation Analysis
In this correlation analysis,
relation between current variables has been identified. It can be observed that
ideal condition for market condition and marketing strategy's significant
role in business obtains a correlation value of 0.464. This shows that there
is a positive correlation between the variables. Therefore, it can be said that
an ideal marketing strategy can positively affect marketing strategy. On the
other hand, in the case of analysis of internal and external environment and
element of market research , the observed correlation value is 0.375.
This also suggests there is a positive correlation between these two variables
and the significant value is 0.016. It can be said that internal and external
market research are significant elements of market research.
Regression Analysis
Figure 6: ANOVA test
A regression analysis has been
performed in this research, by considering high competitive performance as
dependent variable and other questions as independent variables. The regression
analysis provides a significant value of 0.119. As the obsessed
significant value is more than the value of 0.05, therefore it can be said that
this regression test is not significant.
4.3 Discussion
A
survey was conducted to do research on the topic Effective Marketing
Management ensures the future growth of the company with a competitive
advantage . There were 44 respondents that participated in the survey
and 4 respondents were not interested whereas 40 respondents agreed with the
statement Effective Marketing Management ensures the future growth of
the company with a competitive advantage . The respondents that
participated in the survey were of different genders. There were 25 male
respondents and 15 female respondents that responded to the survey and helped
in conducting the research successfully. The more involvement in the servery was from the age group of 18 to 25 years.
Figure 4.37: Market size
(Source:
Statista.com, 2022)
The
above figure is about the market size of the UK and it can be observed from the
figure that the market valued to be 2.68 billion in 2019 (statista.com, 2022).
Out of 40 respondents, 13 respondents were senior market officers and 13 were
product marketing managers. The involved respondents had a great knowledge of
the market and product as they work in that field only. The senior market
officer focuses on making brand strategies to get a competitive advantage in
the market (Chen, 2018). The senior market officer works to raise brand
awareness among the people and increases sales by working with the sales team.
The product manager also works for sales and marketing of the product and also
focuses on developing the product.
According
to the survey, 10 respondents worked for less than one year in the sales
department. The less experienced people cannot increase the competitive
advantage of the company. In order to increase the competitive advantage in the
market, the companies need more experienced employees in the sales department.
Employees play a significant role in the organization s success as without them
a company cannot run (Cao et al. 2019). Only 4 respondents experienced
more than 5 years which can be a major problem for the company to get a
competitive advantage in the market. Experienced employees can effectively
manage the market and can contribute to the growth of the organization. It
helps to find out importance of digital and traditional marketing in various
business organizations in current time.
15
Respondents in the survey responded that their salary is in between
1200- 15000 which is relatively low. The employees with unfulfilled needs
cannot give their best to the work and contribute to the growth of the organization.
The employee's productivity increases with motivation and employees with less
income cannot be motivated (Jelonek et al. 2022). Thus, the organization
needs to provide salaries with bonuses to motivate them to work and contribute
to the organizational growth.
The
survey results show that all the respondents are on social media. Social media
has now become essential for the organization as it helps them in reaching
customers. With the help of social media companies can easily raise brand
awareness among the people. Around 90% of the people in the UK use social media
(statista.com, 2022). Many new companies can easily come into the competition
by raising brand awareness through the people. Most social media user s login
to their accounts at least once per day and continuous advertising can make the
brand at the top of their minds. Social media also helps in boosting the sales
of the company that contributes to the growth of the organization.
According
to the survey, most people use Facebook and Instagram. Social media platforms
such as Facebook and Instagram are the best to promote products in the market.
Many people also start their business on Facebook and many people respond that
they have come across many new products on Instagram (Khan et al. 2019).
Promotion through the social media platform helps in connecting with the
people. The companies can know about the opinion of the people on the products
offered by them and can also modify the product with the help of people's
opinions.
Marketing
strategies play a significant role in the growth of the organisation.
Marketing strategies help in increasing the sales of the company and also
manage the reputation of the company. Marketing strategies also help in gaining
the trust of the customer and help in making them loyal to the company. There
are many marketing strategies that help the company in gaining competitive
advantages. The different marketing strategies are the Preparation of a
marketing plan, Developing financial goals, Streamlining product development
and Establishment of effective distribution of products . These
strategies help the organization in growth and also bring a competitive
advantage in the market.
Effective
communication is very important for customer retention in an organization. It
is necessary that the information communicated to the customer is correct as
miscommunication can make the company lose their loyal customers.
Miscommunication can be avoided by listening to the customer's needs carefully
and understanding them to fulfill them. Effective communication can make the
customer satisfied with the product and increase customer retention in the organization.
The company also needs to listen to the customer's feedback about the product
and try to improve it according to them.
There
are different ideal conditions that determine successful marketing strategies.
The ideal condition for a successful marketing strategy can be Know the
target audience as it is compulsory for an organization to know its
audience for the success of marketing strategies. The other ideal condition is
Proper market segmentation, the companies should be aware of the
customer's needs in the area they are promoting and selling the product. In
every country and city, people prefer different kinds of products so it is very
important for the company to choose proper market segmentation.
Analysis
of internal and external environment helps in developing an efficient marketing
plan. The analysis helps the company in providing information regarding the
current scenario and also helps in taking steps in developing an efficient
marketing plan. The external analysis and internal analysis help the company in
knowing the strengths and weaknesses of the company. These elements van be
easily used to create a strong customer experience in business organizations. The
analysis help in coming up with the strategies that can help overcome the
weakness of the company.
It has been
noted that forecasting helps in developing realistic goals. Realistic goals
will be dependent on market research. Market research will identify potential
customer demands and the competitive market. It will help in identifying areas
that need to be developed in order to reach out to potential customers. It has
been noted that most organisation has identified it to be beneficial,
therefore. It can be stated that without proper forecasting, organisations will
be delivering unrealistic goals and fall short of the deliverable that is
needed to be delivered.
Business
Goals are important as it gives a clear focus on business projects, motivating
employees and setting targets for achieving work progress. Increasing awareness
of firms' products has been determined as the highest favoured benefit of
setting business goals. It can be justified that business goals will contribute
to developing promotion strategies that need to be achieved within specific
times (Al-Surmi,
2020). Furthermore, it assists in reaching out to new
consumers and contributes to selling out more products. All these factors
contribute to developing the marketing manager of an organisation and ensure
profitability. Business goals are a prime consideration of successful marketing
management.
Figure 4.38: Factors of marketing research
(Source: Rundle-Thiele
et al. 2019)
Market
research is an important aspect of marketing management. It helps in spotting
business opportunities, lowers business risk and creates relevant promotional
material. Different elements of market research are used to identify various
marketing needs. These factors are profiling potential customers, profiling
competitors, forecasting customer response, marketing cost, and using Marketing
Mix (Rundle-Thiele et al. 2019). All three
methods are preferred in a business to identify potential factors for meeting
marketing goals. However, forecasting customer response and marketing costs are
among the most favoured elements. This helps in defining specific customer
demands and needs. It will ultimately contribute to developing marketing goals
accordingly.
Marketing
strategies are made up of different components. It is generally defined to
target and satisfy customer needs. Product with values is the most favoured
strategy that customers need. Other marketing strategies include low price of
the product, high quality of the product and goods after-sales service.
Products with significant value will have a huge value proposition and
differentiate products from other companies (Bąk,
2019). It further reduces customer problems. Products with
high quality and low prices also hold sustainable importance in the consumer
market. High quilt products will contribute to increasing brand loyalty whereas
low-price products will help in reaching out to a varied range of customer
base.
A
comprehensive Assessment of products helps in demonstration of effective
marketing management. These assessments of products are a combination of
different attributes that will help in gaining significant profit. It generally
assesses certain specificities of products to help in gaining customer
satisfaction (Tien, 2019). Customer
satisfaction can be defined as the measuring parameter for assessing quality
and feasibility of service products. Product perception and product expectation
will be determined through product quality. These assessments will help in
determining gaps in marketing management. Greater the quality of the products
lesser is the management gaps and vice-versa.
Marketing
management can be achieved through different methods or approaches. Certain
notable approaches are controlling and coordinating organisational resources,
setting targets and deadlines for employees, and making financial forecasts.
Marketing management can be defined as the association of creative activities
that will help in successful operational procedures within an organisation.
Setting targets and deadlines will help in generating calculated workflow,
thereby increasing productivity (De Pelsmacker
et al. 2018).
Controlling and coordinating organisational resources will contribute strategic
utilisation of resources for specific purposes rather than spending on common
purposes. Financial forecasting is important so that it will help in
coordinating the use of resources. Profit/loss statement of an organisation
will determine the same.
Marketing
management is dependent on different factors such as leadership, decision
making and organisational structure. Organisational structure contributes to
developing clear goals and ensures that every responsibility is clearly
defined. It will contribute to the streamlined process of communication with
hierarchy leading to develop effective management (Chou,
2020). Organisations will be able to easily accomplish
goals in a defined organisational structure. Significant leadership will help
in guiding to achieve a particular target more effectively. Process of
decision-making is dependent on leadership and organisational structure. It can
be stated that these factors are interrelated.
Marketing
management is improving with time. Therefore, newer approaches are integrated
with the passing day. Some of the trends are conversational marketing,
experiential marketing, and highly personalised content experience and
continued digital transformation. All these activities are highly favoured
while developing marketing management in business. Digital transformation has helped in gaining
sustained competitive advantage for organisations. Conversational marketing is
the most favoured approach, which helps in interacting with customers through
driver-driven activities (Lunguleac
Bardasuc, 2022). Rather
than focusing on the one-way transmission of the grand, both-way transmission
and focusing on customer demands is useful. Promotion of offerings and demos
along with getting feedback has been noted as the best marketing management
practises
Identifying
new target segments in the market is essential, as it will help in increasing
organisational profits. New target segments are identified through analysing
product offerings, conducting market research, creating customer profiles and
assessing competition. Market research can be defined as the major perspective
that helps in identifying target segments (Saura
et al. 2019). Market
analysis includes different characters that are newly introduced in the market
and analyses their success rate. Product offerings are the next favoured
approach in target segments. Feedback on products offered is necessary to
maintain success, or else competitors will overtake the profit market.
Figure 4.39: Implementation of digital transformation
(Source: Kannan,
2020)
Digital
transformation is needed for increasing competitive performance of an
organisation. Digital transformation includes implementation of newer
technologies both in manufacturing and other operational procedures. These are
also considering as challenges that are faced by the organization. It will help
in improving performance, remove man-made errors, increase productivity, and
streamline the process of manufacture (Kannan,
2020). Competitive performance can also be improved through
digital marketing. Different Digital Platforms such as social media, emails and
messages will help in enhancing competitive performances.
Optimal
marketing performances are dependent on different factors such as creative
thinking, digital competence, leadership and communication. Creative thinking
and digital competence have been noted to have higher contributions to optimal
marketing performances. Marketing demonstrates products or services'
whereabouts so that customers feel helpful in using them. Creative thinking and
digital competence are noted to be linked with each other (Biggio,
2021). Creative ideas can be taken to reality and will contribute
to enhancing consumer behaviour through digital competence. Consequently,
leadership and communication will help in generating workflow for optimal
marketing performance.
Marketing
management is highly effective in enhancing the financial performance of the
business organisation. Marketing managers will help in enhancing product
awareness and reaching out to diverse target customers. Thereby it will help in
increasing sales and revenue of the organisation (Biggio,
2021). Different Forms of advertisement contribute to
depicting products' advantages and their utilities which formally contribute to
increasing sales of products. Digital
marketing such as advertisement through influencers helps in reaching out to
more potential customers and revenue growth.
Organisational
performances are influenced by different internal factors within the
organisation. Different factors such as team motivation, proper market
knowledge, innovative market trends and the effective recognition of customs
define organisational performance in marketing management (Tien,
2019). Performances of employees will improve by getting
proper market knowledge. Having such knowledge will help in designing marketing
more efficiently and productively. This will further contribute to building up
team motivation and evaluation as per trend of innovative market research.
Figure 4.40: Technological innovation
(Source: Bąk,
2019)
A unanimous
response has been noted while identifying external factors that affect
marketing management practices. Factors such as technological innovation,
economic trends, changes in marketing patterns, and environmental change will
help in enhancing company performance. Technological innovation will contribute
to the usage of different advanced approaches so that marketing can be made
more attractive and relatable to customers (Bąk,
2019). Economic environment may impact marketing strategy,
however, it is necessary to develop alternatives to positively influence
organisational performances. A competitive environment will help improve
performance by assessing different opportunities to develop marketing.
Figure 4.41: Factors contributing to product differentiation
(Source: Al-Surmi, 2020)
Product
differentiation is an important aspect of developing a competitive advantage.
However, different factors that need to be analysed are better coaster service,
more variety, faster or cheaper shipping, location, colour and aesthetics.
Better customer service is the major factor that will contribute to gaining a
competitive advantage. Service and products should be designed as such so that
it contributes to providing exclusive customer services (Al-Surmi, 2020). Additionally, customer queries and
problems should be sorted shortly to depict proactive customer services.
Product variation and faster shipping will result in differentiating products
from others.
It has been
depicted in several research papers that innovative marketing practices will
enhance competitive advantage and help in gaining revenue and sales for
organisations. Different innovative marketing practices are used such as
hosting different virtual events, providing importance to customer concerns,
contributing to empowering local communities, revisiting prodigy strategy,
collaborating with other stable organisations and incentivising custom reviews
(Tien, 2019). It will help in giving significant
importance to customer's demands for general growth of products and
organisation
In this context, primary factors
that are helpful for a company to gain advantages from competitive activity
within the industrial context are observed through this survey. Among 40
participants most people have stated that Efficient Customer Service is the
major primary factor that can bring competitive advantages. Further, it has
obtained the highest percentage of competitive advantages as 15 participants
have stated it as the highest primary factor (Goshie, 2018). Another factor is
a digital marketing and this has been the second most prior factor for gaining
competitive advantages for a company. In
addition, achieving cost-effectiveness can be a primary factor in acquiring
competitive help from the marketplace.
The other factors that can bring efficiency in competitive advantages
are increasing market share and coordinating and controlling with suppliers.
In this context, strategies for
coping with lagging conditions can be encountered. Strategies that can be
acquired by a company are mentioned in this context. Strengthening one's brand
value is one of the strategies that can be acquired for a company. Participants
have described that it is the most vital step that can be acquired by a company
for integrating brand awareness within customers' minds. Further, raising
barriers due to new entrants can equip a company to obtain advantages from organisational activity (Novita, 2020). Further, defending intellectual
property is needed to be acquired in this context for acquiring competitive
advantages in business. Further, the other strategy for coping with the
situation is to increase productivity effectively for a company. Some of the
participants even think that all the above-mentioned f\strategy can be acquired
by a company to cope with the lagging situation of a company.
It can be seen that most of the
people agreed with the question. The percentage of people that have agreed with
the question is 31 and 9 people have disagreed with the question. Cost
advantages can be advantageous for acquiring benefits over the rival company by
acquiring lower costs than the rival companies. In addition, it can be
mentioned that most people think that it is the only process of having organisational value and increasing brand value for a
company.
In this aspect or question, it can
be seen that a company or an organisation enjoys
competitive advantages when the quality of their products is good. 16 people
have agreed to the matter. 9 people have agreed that cost has some effect on
the competitive advantage of the organization. The rest of the 8 participants
agreed that the distribution network also affects the competitive advantage of
the organization. It can be seen the rest of the 7 participants belong to
customer service and intellectual property of the system. In this context, it
can be mentioned that the quality of product offerings can integrate betterment
in determining competitive advantages for a company (Lopes et al.
2019). Cost structure can be helpful for acquiring brand value in
business context. A distribution network on the other hand has induced
competitive advantages for a company and it is predicted by participants.
There are different kinds of
strategies that help to combat with the various business challenges in current
market scenarios. It can be seen that 12 participants believe that the concept
of competitive performance is very effective. 18 think that it is effective, 10
think that the concept is moderate and the score of not effective is zero. This
can be helpful for acquiring the competitive positioning of a company while
bringing brand value to the company in the assessment process (Paley, 2021). Further, competitive
performance can be enhanced in every effective way in case of achieving a
better marketplace for a company. It also can be effective to acknowledge the
competitive positioning of moderate acquisition for a company.
Figure 4.42: Contestable Oligopoly
(Source: Haseeb et al.
2019)
In the above figure, it can be seen
that the oligopoly has been introduced to the marketplace for acquiring better
results in effective marketing management for a company's future growth.
Samsung has been observed to acquire a better managerial aspect from the
competitive advantages. It consists of 31.8% growth with the help of Oligopoly
market type. Further, it can be advantageous for acquiring Monopolistic
Competition from the marketplace as per the participant's thoughts (Haseeb et al. 2019). Moreover, perfect competition can be
integrated into acquiring marketplace advantages for a company. Pure Monopoly
on the other hand can be effective for the future growth of a company by
ensuring its competitive advantages.
Figure 4.43: Competitive advantages for positioning a company
(Source: Saeidi et al.
2019)
In the above figure, it can be seen
that competitive advantages can be obtained through analysis of G-index for analysing the advances of positioning a company by analysing the marketplace effectively for a company (Saeidi et al. 2019). Incrementation in the index is seen to insert
more competitive advantages within a company. In this context, it can be
mentioned that differentiation strategy and best cost strategy acquired
competitive advantages from the marketplace.
The above figure is representative
of the impact of highly competitive performance and market type on organizational
performance. It is evident from this pie chart that 36 people agreed with this
concept. This is the majority of people that have responded in this regard.
Hence, it is good to state that Effective Marketing Management provides a
competitive advantage to any company that is operational within the market.
Further, there are certain people that disagree with this fact. However, their
number is insignificant in this research (Atnafu, 2018). Due to high
competition in the market, the company needs to improve its performance and
also increase efficiency in order to sustain business in the market. From
respondents, it is evaluated that 90% of respondents agreed with these factors.
4.4 Summary
This chapter consists of the
discussions of the main findings of marketing management for mitigating future
goals of a business. In this chapter, all the above graphs have been analysed for finding a suitable conclusion based on this
topic. In this research primary quantitative data has been used to conclude a
suitable solution or result for this research process. In order to collect
these data for marketing management for future goals, survey has been conducted
among a specific population and specific sample size. In this survey sample
size is 40 that have helped to acquire insight for marketing management.
Chapter
5: Conclusion and recommendation
5.1:
Conclusion
The report
concludes with effective management that helps to improve future growth of
company product in UK. Along with this, study discusses market strategy and
demand for company products in a competitive market. Impact of innovation or
digitization platform is selling products directly to consumers. Digitalization
help to improve quality of a product by available feedback from consumer
related to product quality. In this regard, organization improves their
economic development with help of digitization by saving wholesalers as well as
retailer revenue on every product. On the other hand, a company can use their
brand value to compete with their real competitor that presents in market or
prevent expansion of business in UK. In this regard, organizational management
uses their brand values in online product selling market that helps to expand
their business at a global level in future time. On the other hand, management
of organizational development is developed working places of an organization as
expectation of future working style.
Organizational
management improved their working procedure with help of modern equipment and
it helps to improve production capacity of an organization. On the other hand,
modern technology help to maintain product quality for a long time, which is
beneficial for organizational business growth in future, time. Mentioned
strategy help to attract more consumers as well as prevent removal of consumer
relation with a mentioned organization in the UK. This study discussed
advantages of consumer feedback to improve product quality with help of
official website of organization. On the other hand, consumer feedback also
helps to find new product related to organizational manufacturing hub. Finally,
this is one of major advantages to expand business in a future time in a
competitive market. Furthermore, mentioned strategy is helping to improve
economic stability of organizations in future that can improve their risk
ability to experiment with development of products for next generation.
5.2: Objective Linking
●
To identify the importance of
digital marketing and traditional marketing
In future
time for expanding business is digital marketing play a vital role because it
has a number of advantages over traditional marketing strategy. In this regard,
a greater return on investment is due to directly connecting with consumers
that improves per product incomes. Second thing is flexibility, which means
easily changing their product as per demanding of consumers (L pez et al. 2019). Currently, most digital
marketing platforms share capability that gives authority to share articles
with various followers.
●
To investigate various components of
marketing being followed for creating a strong customer experience
Digital
platforms provide a visual impact on the consumer's mind that helps to create a
strong consumer experience for a long time. On the other hand, traditional
advertising methods cannot affect consumers' minds for a long time. However,
management with help of digital advertising consumers is emotionally connected
with products that are naturally fixed for a long time in consumer's mind. In
this regard, most of UK population uses the internet which play a vital role in
fatly transmitting organizational product information to their consumer with
fatly or effect fully compare to a traditional advertisement (Gilboa et al. 2019). This strategy of an
advertising turning point for organizational expanding business on digital
platforms in the future time.
●
To evaluate marketing challenges
faced by the organization
Currently,
few challenges faced by company to expanding or occurring business on digital
platform for product selling. Continuously update security systems to prevent
cybercrime by unauthentic people of organization. Mentioned step is necessary
to regularly update to continuously improve business in online platforms in UK.
Second measure issue of digital marking continuously follows consumer trends,
which are not easy for small businesses as well as economically unstable
businesses (Thabit and Raewf, 2018). Organizations
need to develop their organizational website to collect data from consumers and
improve product quality as per consumers' expectations. Targeting a right
people is not easy with help of digital or online media platforms that a major
challenging factor for e-commerce businesses at present time. However, software
developer continuously solves all of the issues or challenges of online marking
in future time in UK.
● to investigate marketing strategies
being incorporated to combat various business challenges
Online
marking cannot easily create market space for selling their product in specific
areas of UK to improve their business. Along with this, value-driven
segmentation is another challenge for digital media platforms to attract more
consumers in UK. On the other hand, threats of commoditization are continuously
increased for a new organization that expands business on online business
platforms (Goworek et al. 2020). Furthermore, disruptive innovation improves business
challenges as well as a market strategy for different management of
organizations. Along with this, management needs to provide ideal training to
employees for online workplaces.
5.3 Recommendation
●
To recommend the implementation of
digital technologies
The business
organization needs to give effective training to their potential employees and implement
these advanced technologies in the working strategies as it enables them to
improve their business processes. In addition, it has been also found that the
global market needs digital transformation in their business processes as it
enables them to improve the quality and standards of their products and
services (Bettiol et al.
2022). Digital technologies also contribute in terms of introducing
automation processes and enabling them to provide more personalized services to
their potential customers. In addition, it has been also recommended that the
potential employees also need to evaluate their technical skills and knowledge
in the workplace as it enables them to improve their quality of work in the
workplace. Digital technologies implementation is also beneficial in terms of
reducing the costs of business inputs as it reduces the costs of manual labour
and helps in the earlier determination of the potential challenges (Samara et al. 2022). Cloud mechanism, automation, and artificial
intelligence are considered effective digital technological tools and
techniques as it enables them to analyze the
diversified demand and desires of their potential customers. It would be
beneficial in delivering time-efficient services to potential customers. A
concerned business organization can cover a broad range of demographic regions
for their products and service systems. Therefore, it can be said that the
organization must determine the imperatives of digital technologies in their
business activities as it helps to mitigate the challenges regarding
personalized product manufacturing.
●
To recommend the implementation of
effective leadership and management at the workplace
Effective
leaders have the potential to mould their workers in such a way as it helps
them to implement the vision and mission of the concerned organization. Potential leaders can influence their workers
at the workplace by boosting their morale and ensuring effective communication
(Carbonell Launois and Nass , 2021).
Potential managers need to determine the significance of every individual
worker while implementing their leadership styles as it would be beneficial in
terms of creating positive work environments and mutual understanding among
workers. Effective leaders are held responsible for optimum utilization of the
available resources. It has been also found that the concerned organization
needs to evaluate their leadership styles by taking feedback from their
potential workers and other stakeholders as it enables them to improve
essential skills in the potential leaders (Kerin, 2022). In contrast to this, if the managers
lack important management skills and management processes then they are not
able to thrive with the change. Therefore, organizational leaders need to
improve their management skills in the concerned organization as it enables
them to effectively communicate with the vision and mission of the organization
and they can implement their diversified strategic plan in their project work.
It has been also found that potential leaders can influence the workers that
can help them to sustain and adapt to the business environment. On the other
hand, potential employees also feel connected with their work and workplace if
their leaders or managers provide enough guidance to them.
5.4:
Research Limitation
This
research can help to develop organizational working places according to future
expectations of a large number of people. In this regard, it derives follow
consumers' expectation and identifies an opportunity for development of a new
product or service for consumer. On the other hand, it cannot predicate future
conditions and which factor that a major affect human lifestyle (Ceinar and Mariotti, 2021). As an example, covid-19 is one
factor that changes people's lifestyles as well as their working procedures
also. This is limitations of analyses that can modify organizational management
styles are expanding business in future time.
This
research describes some future scope for developed business in UK however, it
analysis impact of technical skills on development business. Along with this,
after coming covid-19 was pandemic situation number of organizations developed
their working places with help of advanced technical tools. Mentioned strategy
is to help to find future opportunities to develop their business by analyzing behavior or expectation
of people (Borges et al. 2021). On
the other hand, organizations need to develop their management according to
time, which is necessary to develop their business in future time. Along with
this, consumer feedback and satisfied their expectation both are necessary for
improving sustainability of organization's business in future time.
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Appendices
Appendix A: Research instruments
These histograms has generated with the help of SPSS
software.
Figure
1: Histogram of Frequently Used Social Media Platforms
Histogram on figure 1 shows the data responses
of participants in the case of frequently used social media platforms. This
histogram is rightly skewed and outliers in the data can be observed from this
histogram.
Figure
2: Histogram of Business Goals
In this above mentioned histogram, data
received on question of business goals has been graphically presented. It can be observed that data is rightly
skewed and no outliers can be found in this data set.
Appendix B: Survey Questionnaire
A survey questionnaire has been made in terms of effective
marketing management ensures the future growth of the company with a
competitive advantage. There is a question regarding consent of participant,
two demographic question and 32 option based question. The survey has been
conducted on 51 participants.
1. Consent
I agree to the above statements
I
do not agree to participate
2. Gender of respondents
Male
Female
Other
3.
What is your age group?
18-25 Years
25-30 Years
31-40 Years
41-60 Years
Above 60 Years
4.
What is your Job Title?
Senior
Marketing Officer
Product
Marketing Manager
Chief
Marketing Officer
Content
Marketing Specialist
Other
5.
How long have you been working in the marketing and sales department?
Less
than 1 year
1-2
years
2-3
years
3-4
years
More
than 5 years
6.
What is your annual income?
Less
than 12000
1200- 15000
16000- 20000
21000- 25000
Over
30000
7.
Are using social Media?
Yes
No
Other
8.
What Social Media do you use frequently?
Facebook
Snapchat
Instagram
WhatsApp
Twitter
LinkedIn
Other
9. Which marketing strategy,
according to you, plays a significant role in the business working of a firm?
Preparation of marketing plan
Establishment of effective
distribution
Streamlining product development
Developing financial goals
All of the above
Other
10. Do you agree that selection of
right communication tactics and facilitating optimum use of resources can
enhance customer retention of an organization?
Agree
Disagree
11. What according to you are the
ideal conditions for a successful marketing strategy?
Knowing the target audience
Proper market segmentation
Unique selling proposition
Identification of competitive
advantage
All of the above
Other
12. Do you think that analysis of
internal and external environment helps in developing an efficient marketing
plan?
Agree
Disagree
13. Do you believe that without
proper forecasting, a marketing plan may have unrealistic goals and fall short
of what was promised to be delivered?
Agree
Disagree
14. Select the ones you think is
appropriate. Business goals include...
Increasing awareness of firm s
products
Increasing awareness of firm s
services
Selling more products from a certain
supplier
Reaching a new customer segment
All of the above
Other
15. Through market research can help
in meeting the marketing goals of a company. What according to you are the
elements of market research?
Profile potential customers
Profile competitors
Forecasting customer response and
marketing cost
Using 5Ps of marketing mix
All of the above
Other
16. What features of marketing
strategy do customer value the most?
Low price of product
High quality of product
Product with Values
Good after-Sales service
All of the above
Other
17. Does comprehensive Assessment of
products demonstrates effective marketing management?
Agree
Disagree
18. What is the best way to achieve
effective marketing management?
Setting targets and deadlines for
employees
Efficient organisation of work
Coordinating and controlling
organisation resources
Making financial forecast
All of the above
Other
19. Does leadership, decision making
and organizational structure contribute in marketing management?
Agree
Disagree
20. What are the key trends getting
associated with marketing management?
Conversational marketing
Highly personalized content
experience
Experiential Marketing
Continued Digital Transformation
All of the above
Other
21. How do we identify new target
segment in marketing?
Analyse product offerings
Conduct market research
Creating customer profiles
Assessing competition
All of the above
Other
22. Do you agree or disagree that
marketing management requires digital transformation to enhance competitive
performance?
Agree
Disagree
23. What is the most essential
management factor required for optimal marketing performance?
Creative thinking
Digital competence
Leadership
Communication
Other
24. How effective is marketing
management to enhance financial performance of companies?
Very Effective
Effective
Not Effective
Other
25. What does influence
organisational performance most during marketing management?
Team motivation
Proper market knowledge
Effective recognition of
customer
Innovative market trend
Other
26. What external factors most
affect marketing management practices to enhance company performance?
Technological innovation
Economic trend
Uncertain change in marketing demand
Environmental change
Other
27. Countless attributes can set
your product apart. Keeping this statement in mind how would you gain an
advantage over competitors is by differentiating your product from theirs?
Better customer service
More variety
Faster or cheaper shipping
Location
Color and aesthetics
Other
28. To what extent do you agree or
disagree that innovative marketing practices enhance competitive advantages in
sales and revenue generation?
Agree
Disagree
29. What is the primary factor help
company to achieve competitive advantages against highly competitive brand?
Digital Marketing
Efficient customer service
Coordinating and controlling with suplliers
Achieving cost effectiveness
Increase market share
Other
30. Suppose your company is lagging
behind in the competition race. What strategies will you implement in your
organization to cope up with the situation?
Strengthening one's brand
Raising barriers to new entrants
Defence of intellectual property
Increased productivity
All the above
Other
31. Do you agree that cost advantage
and differentiation advantage can help an organization in achieving competitive
advantage over its rivals?
Agree
Disagree
32. What factors according to you
determines competitive advantage in an organization?
Quality of product offerings
Cost structure and branding
Distribution network
Customer service
Intellectual property
33. How effective is competitive
performance assessment to achieve better competitive positioning?
Very Effective
Effective
Moderate
Not Effective
34. According to you, which competitive
market type is profitable for companies to achieve competitive advantages?
Oligopoly
Monopolistic Competition
Perfect Competition
Pure Monopoly
35. Which competitive strategy would
you adopt in your company to achieve high competitive positioning compared to
other rivals?
Differentiation Strategy
Best-cost strategy
Market-niche Strategy
Cost leadership strategy
Appendix C: Ethical Form
In the preparation of this research paper and
conducting the research survey, an ethical form has been developed. This ethical form ensures that the research
has been conducted ethically and there is no unethical incident while
conducting the research.
FBL Research Ethics
Approval Form: UG and PG Students
FBL is concerned
to protect the dignity, rights, safety and well being
of all participants in any research study involving people. The avoidance of
harm to research subjects should therefore be a prime consideration for all FBL
researchers and students. To this end, FBL has developed research ethics review
procedures that require staff and students (and student supervisors) to
complete an ethics approval application form prior to the commencement of any
research project.
If
the research is not NHS-based,
please complete the questions below and hand the form to your supervisor. Please note that the form should be type-written. Once
your supervisor has approved and signed off the form he/she will retain it for
the duration of the student project. Your supervisor might ask you to make
amendments prior to approving it. Alternatively, the form might be referred to
the FBL Research Ethics Committee for review if your supervisor feels it is
necessary to obtain additional expert opinion.
If
the research is based in an NHS
institution then quite separate and more stringent approval processes
may be required. In all such cases, please email bbs.researchethics@uwe.ac.uk
as soon as possible for further advice on the procedure required, or contact
FBL Research Ethics Officer in room 3E35.
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Name
of Student |
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Email
address |
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Student
Number |
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Degree
Programme (eg, BABS;
MAHRM, LLB/LLM) |
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Postgraduate
Taught or Undergraduate status (Postgraduate
research students should not complete this form) |
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Name
of student supervisor |
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Project
Title |
EFFECTIVE
MARKETING MANAGEMENT ENSURES THE FUTURE GROWTH OF THE COMPANY WITH A COMPETITIVE
ADVANTAGE |
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Proposed
project start date |
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Proposed
project end date |
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1. Does the research project
involve any of the following risk factors: |
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Research
involving health sector organisations |
If
YES, tick here: |
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Research
involving children or other vulnerable groups |
If
YES, tick here: |
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Research
involving sensitive topics |
If
YES, tick here: |
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Research
involving aerospace/defence organisations |
If
YES, tick here: |
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Research
involving nuclear production organisations |
If
YES, tick here: |
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2. Provide a brief outline of the
aims and objectives of the proposed research project. Aim The research aims to find
effective marketing management to ensure the future growth of the company.
The comparison between traditional and digital methods can provide detailed
insight into getting advantages in market. The aim of the research is also to
investigate challenges faced by the organization in EM. Objectives ● To identify the importance of
digital marketing and traditional marketing ● To investigate various components
of marketing being followed for creating a strong customer experience ● To evaluate marketing challenges
faced by the organization ● To investigate marketing
strategies being incorporated to combat various business challenges |
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3. Describe the proposed research
design and include details of the types of data to be collected from human
participants (for example: observation of people; number and type of people
to be interviewed, such as their job role or occupation; use of survey
questionnaires and the type of people to be included in the survey).
Please include your proposed research
questions. This
research holds the descriptive research design; it
mainly refers to framework of different market research methods and different
market research techniques that are used by researchers regarding effective
marketing management. Design of a research allows them to do proper
utilization of these methods, which are suitable for this study, and helps to
set upon their studies in future time as well. Descriptive research design
allows obtaining different kinds of information systematically. Descriptive
design also helps to obtain knowledge or information form described situation
or population also. More especially, it helps to answer those questions that
are related with the research problems and research process issues (McNichols
and Stubben, 2018). Descriptive research design helps researchers by enabling
them to develop in-depth understanding of effective marketing management.
Participants provided their answers as per their own assumptions and they
also provided answers of those questions anonymously. Research also has
Investigation control over different variables for research and allows
understanding or studying participants in natural settings. Few advantages
can allow the use of descriptive design in research (Ajibade, 2018).
Moreover, it is very cost effective and takes very less time. Furthermore, it
can also be used for many different purposes of this research and allows a
cost effective for research. Quickly and cost effective phenomena of this
research design make it a versatile method of gathering data. |
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4. Does the proposed research
contain any potentially contentious issues that might affect the physical,
psychological or emotional wellbeing of the research participants? If so,
provide full details. No |
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5. Describe how you or your host organisation will gain the informed consent of
individuals who will participate in the research. If
appropriate, please attach a copy of your draft consent form. In this
research, data have sourced from a survey, which is a close-ended
survey. In this research data collection have been done with the help of
primary data collection method and in primary method qualitative aspect of
data collection have been chosen to get better outcomes. Participants
provided their answers as per their own assumptions and they also provided
answers of those questions anonymously. In this research, close-ended surveys
have chosen due to various reasons. However, it helps to collect data in a
quick manner and in an easy way also. Source of collected data is independent
and different form answers of each participant. Most probably, Close-ended
questions have made it easier for participants to choose their answers in an
easy manner. This data source also helps to avoid irrelevant and
irresponsible answers. Furthermore, it also provides accurate areas of
analysis of those data (Rutberg and Bouikidis,
2018). These data sources also help to compare answers of different
participants, statistical values can be easily obtained from this, and a
statistical value is one of the most helpful data for a research. Therefore,
survey data sources provide better understanding through various answer
options |
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6. Describe how you will maintain
the confidentiality of the research data collected. Also, describe how you
will ensure that research participants are anonymised
in your data analysis. Ethical
consideration of a research includes the set of principles, guidelines and
set of ethics that helps to do a different research processes without any
resistance. In simple words, research ethics are implemented in a research to
do various actions regarding the researcher with proper justification
(Snyder, 2019). In this research, ethics have also implemented very
effectively because primary quantitative data collection methods have used
here. Principles of this research include voluntary participation of people
in the survey of this research and other research processes (Sapkota, 2019).
Research ethics also holds confidentiality, result of communication and
potential of harm also. These principles have helped the observers to protect
the rights of research participants. Therefore, it means, researchers have
maintained common decorum of research and fulfilled all rights of
participants in this research. Goals of each and every research includes deep
understanding of real-life phenomena, studying effective treatment regarding
a phenomena and therefore maintaining a common code of conduct becomes very
crucial for a right outcome of a research. In this research, information
regarding various processes and action related information have provided to
every participant. It helps to enhance research transparency and research
validity also. |
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7. Describe how you will store your
data, who will have access to it, and what happens to the data at the end of
the project. Data
is stored in secured online sources. |
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Student s Signature |
Date |
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For the Attention of UG and PGT
SUPERVISORS |
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If
you feel that this research ethics application can be approved then sign in
the box below and retain the form for the duration of the student research
project. The form may need to be accessed for ethics auditing purposes during
this period. If
there are any ethical issues of a potentially problematic nature that, in
your opinion, require clarification or further scrutiny by the Faculty
Research Ethics Committee then forward this form to bbs.researchethics@uwe.ac.uk . |
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Supervisor s Signature |
Date |
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If you feel unable to sign this
application please briefly list your reasons below: |
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