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UK Household Textiles Limited is a market leader in creating, developing and manufacturing of knitted apparel products right from basic to highly fashioned garments thus responding to emerging trends in the industry of textile fabrics. Founded in the UK in 2004, UK Household Textiles provides Cleaning stuff like tea towels, yellow dusters, and dish cloths. Company translates conceptual ideas of customers into reality and shapes them through our technical bent and professional acumen. The team here strongly believes that Customer satisfaction is the essence of business today.
UK Household Textile Limited has the technology with expertise, products with knowledge and most importantly the right mindset to achieve total customer satisfaction. The Fabric Processing Division of UK Household Textile Limited has a capacity of dyeing 41,450 kilograms per day. Machinery is capable of dyeing 100% cotton and blended fabric. The machine size selection gives the flexibility in dyeing a lot size ranging from 100 kilograms to 1,000 Kilograms. The department has two finishing lines from Switzerland, which include hydro extractors, dryers and compactors. In order to maintain the quality of processed fabric, company has the testing laboratory with latest equipment to check the fabric.
It ensures that the fabric quality is maintained and is according to the required parameters of our customers. Very well equipped dyeing department with a production capacity of around 500 kg per day allows us to fully meet our dyeing requirements. There are dyeing machines for dyeing cotton fabric and a fully computerized high temperature jet-dyeing machine to dye all kinds of synthetic fabrics including polyester. Laboratory ensures all dyed fabric is properly checked, as per buyer's requirements, for factors such as shrinkage, color fastness, etc. Finishing department comprises of automatic hydro-extractors for the removal of moisture from dyed fabric, computerized tensionless dryers for instant fabric drying, soft-setting and calendaring machines for systematic soft-setting and rolling of fabric, fully computerized compaction machines for complete shrinkage control, and panel wash machines and tumble dryers for panel washing the fabric to give minimum shrinkage value.
Again personal attention ensures that all the fabric leaving the finishing department is properly inspected and thoroughly checked for relevant factors before being forwarded to the next stage of production.
As being the manager at UK Household Textile Limited, with the passage of time, with the change in technology, change of systems, procedures, standards, legislations, it is important for me to update my skills ,qualifications, competencies to achieve organizational objectives, otherwise organizational objectives may not be achieved in time or may not be achieved.
UK Household Textile limited has employees, and due to continuously changes in technology, procedures, machinery, science, it is necessary for organization to update the employee's skills, qualifications, and awareness.
My Job Responsibilities at U.K Household Textile Limited:
My job as a Manager involves the classical notion of management. Quinn et al. (2003) maintain, a manager gets things done with the aid of people and other organizational resources. They also assent planning, organizing, coordinating, controlling and leading as imperative functions of management. In the following I relate the theoretical management functions with my experience as a manager at U.K Household Textile Limited.
Planning: My planning responsibilities are aligned with the suggestions of Boddy (2008, p. 401). I am responsible to set the overall direction of my department including forecasting the market and fashion trends, assessing resources and developing objectives,
Organizing: I am responsible to transform the abstract and written plans into reality. It involves allocation of resources to the tasks including responsibilities to employees and equip them with necessary knowledge, tools and technologies.
Coordinating: I communicate outside and inside the organization for spreading new product ideas,
Controlling: It is my responsibility to control allocated resources, like budget, authority, necessary equipment, time and human resources to supervisors and facilitate them as per company policy,
Leading: As a leader mean I try to motivate employees for organizational objectives. I also try to align organizational objectives with employees' objectives. It is interesting to strike a balance between the organizational objectives and employees' objectives. This balance is not possible if employees do not believe in the vision of organizational leadership, and the leadership does not believe in employees' wellbeing.
To achieve the goals and objectives of company it is necessary for me to understand principles and processes involve in formulating the marketing strategy including tools and techniques of marketing research. The following section illustrates my understanding of the said principles, process, techniques and tools.
Principle of Marketing Strategy:
The purpose of marketing strategy is to facilitate a business achieve and sustain competitive advantage in the marketplace through market-based relational assets and market-based intellectual assets. To achieve this purpose marketing strategy requires is an in-depth understanding of organization's internal and external environment. The understanding of internal environment stems from the knowledge of marketing mix, performance analysis and strategic constraints (Aeker, 2008). Similarly, for understanding the external environment of the organization knowledge of customer analysis, competitor analysis, target market analysis, as well as evaluation of any elements of the technological, economic, cultural or political/legal environment is imperative.
The tool I use for developing Marketing strategy are SWOT analysis and PESTEL analysis. The process of using these tools depends on the level of required marketing strategy. For new product and new market development I usually use PESTEL analysis in which I analyze Political, Economic, Social, Technological, Environmental and Legal factors. For existing products but new markets I analyze my company's internal strength and weaknesses and external opportunities and strengths according to SWOT analysis framework.
Analyzing marketing opportunities
First step of the marketing process is analyzing market opportunities and avail these opportunities to satisfy the customer's requirements to have competitive advantage. The marketing function of analyzing market opportunities is important in the marketing planning process. I try to look into the long-term opportunities in the market to improve the business unit's performance.
Selection of target Market:
To succeed in today's competitive marketplace, companies must be customer centered. They must win customers from competitors and keep them by delivering greater value.
Sound marketing requires a careful, deliberate analysis of consumers and if required divide total market into various market segments. The market segmentation is based on the demographic, socio-cultural and behavioral information of the different group of customers. This segmentation helps choose the best segments and design strategies for profitably serving chosen segments better than the competition under the concept of market positioning. Effective positioning begins with actually differentiating the company's marketing mix. Marketing mix gives consumers more value than they are offered by the competition.
Once, as a company, we have decided our overall price, place, promotion, and positioning .
Canon (1980) mentions Professor Jerome McCarthy, proposed a Four P classification in 1960 which is known as Marketing Mix. He (1980) maintains marketing mix is set of controllable marketing variables that a firm blends to produce the response it wants in the target market. The marketing mix consists of everything that the firm can do to influence the demand for its product. These variables are often referred to as the "four Ps."
Product stands for the "goods-and-service" combination the company offers to the target market.
Price stands for the amount of money customers have to pay to obtain the product.
Place stands for company activities that make the product available to target consumers.
Promotion stands for activities that communicate the merits of the product and persuade target consumers to buy it. An effective marketing mix blends four P's into a coordinated program designed to achieve the company's marketing objectives by delivering value to consumers and implement marketing mix.
Implementation of Marketing Strategy:
Launching of Marketing Mix is the step of a marketing strategy that turns it from a plan to action in order to accomplish its objectives. Whereas marketing planning addresses "why" of marketing activities, implementation addresses the "who", "where", "when", and "how". One firm can have essentially the same strategy as another, yet win in the market- place through faster or better execution. Successful implementation depends on an action program that pulls all of the people and activities together and forms sound formal organizational structure its decision and reward structure (HRM functions and procedures) and the firm's marketing strategies fitting with its company culture (the shared system of values and beliefs). The Company must design a marketing department that can carry out marketing analysis, planning, implementation, and control.
Conclusion: Role of Market Research in the Process of Formulation of Marketing Strategy:
Marketing research is an indispensable marketing tool for this purpose. Researching the market allows the company to gather information about their customers, competitors and any environmental changes to determine the market opportunities. Once the market opportunities have been analyzed then modern marketing practice calls for dividing the market into major market segments, evaluating each segment, and selecting and targeting those market segments that the company can best serve
Before starting a to formulate marketing strategy for my organization I do market research in detail. Market research is important to think through the process of formulation of marketing strategy. I start the process by producing a secondary data and primary data research strategy and decide how the information is to be collected and by whom. I also identify appropriate sources of information. The next step is to decide the tool and process of data analysis. Once the data is collected the data is analyzed whether qualitatively or quantitatively depends on the nature of the objective of the marketing strategy. The next step is report the findings into PESTEL or SWOT for identifying the most important issues and strategic options. The PESTEL or SWOT and findings of the research are disseminated to the concern departments for a marketing development discussion forum. The development forum discusses the findings of the research report and decides marketing strategy of the company.