This is a solution of Marketing Across Boundaries part 1 in which we discuss Marketing is a technique to promote the sales of products and services with the purpose of earning profits out of them.
The present report is been carried out to evaluate the marketing activities being utilised in an organisation and evaluating the marketing strategies of the business. Marketing is a technique to promote the sales of products and services with the purpose of earning profits out of them. The marketing strategies and different activities of Morrisons, a retail outlet in UK would be evaluated through the report. The report would also be discussing about different aspects of marketing positioning, segmenting, etc of the organisation. Furthermore, the organisation would also be identifying different theories and model based on the marketing activities within the operations of Morrisons.
The management of Morrisons works on the concepts of marketing being derived by Kotler.et.al (2013) which states that marketing is an art to investigate, construct and deliver a value with the intention to fulfil the requirements of the target market and achieve high profits out of it. The Marketing activities that are being applied in Morrisons attain a broader sense of the means to be used for communicating the relevant information about the products and services in the market. It is a way in which the organisations manage the marketing mix elements such as the price, place, promotion, product, physical evidence, people and processes. Planning for the marketing activities is an essential task in Morrisons as these activities provides a base over the promotions to sell the product and services within a market segment. Morrison is a customer centric organisation and has to be more active to make the customer satisfy and delighted with their part of services (Ferrell and Hartline, 2012). The marketing planning activities plays an important role in achieving the objectives and goals in more effective way and support the organisation to attain success and profitability in the industry. Morrisons has been listed as the fourth largest supermarket chain and acquires approximately about 515 superstores and nearly about 113 local stores all over the country. To run these stores in a sustainable way it is very much essential for the organisation to adopt effective marketing strategies and activities and make the people aware about its brand and attract them towards the products.
The marketing planning of Morrison includes the following steps:
Identify the organisational objective
It is the basic element to understand the objective of the organisation. The major objective of Morrisons is to grab more and more customers towards its brand and attain the higher profitability (Kotler.et.al, 2013). It also aims to maximise its revenue and profits by laying a focus on becoming specialist in its food segment and to provide the goods and service at the cheapest rates to the customers.
Evaluation of resources
With the help of assessing the resources the management of Morrisons is able to evaluate the exact amount of present resources and the requirements in future. For making a marketing plan organisation had to identify the key strengths and weaknesses so that they could make use of the resources effectively.Identify the presence of risk: Along with other activities there are certain risk factors also which must be recognised and could be overcome within the timeframe. The risks over the operation of Morrisons have been identified are such as political, legal, economical, technological risk, etc (Arbelaez.et.al, 2011). For instance, a product introduced with the plan to target the young generation but with the effect of some governmental policies could not be sold in the market and thus resulted in the loses.
Develop a marketing strategy
The marketing planning process includes the design of marketing strategy by keeping in mind the above aspects. Morrisons would be developing a marketing strategy which is cost and time efficient and makes the optimum utilisation of resources. It would be helping out in selecting the target market segment specifically and serve the customer effectively in that segment.
Execution and management of the marketing plan
An effective strategic marketing plan is the best way to achieve the objectives and gain maximum profitability out of it. It is also important for the management of Morrisons to monitor the planning and thus make use of the feedbacks to assess the effectiveness of the plan. There are various elements of marketing mix which affects the marketing activities of Morrisons such as price, product, place, promotion, etc (Cachon and Swinney, 2014). With respect to the products and services of Morrisons the customers are more inclined towards the low prices products having high quality. Thus it becomes more essential for Morrisons to focus on the pricing levels of the products and make them available at the best possible lower costs to the customers. The products are the basic elements as these are the only the sources of income. Morrisons must focus on delivering the best quality products and bringing innovations and improvements in the existing one which would surely attract the maximum number of customers towards the brand. Selecting the right market segment justifies the place for the products and services of Morrisons. It is very important to evaluate the best choice of market segment to introduce its products among the customers. It could be accomplished through carrying out market research and identifying the exact target market, distribution channel and other related factors (Christopher.et.al, 2013).
The Promotional techniques of Morrisons assist in spreading proper awareness about the brand and the products being offered in the market and attract the maximum number of customers towards it. These elements play an important role in an organisation as supports with all the elements which are essential in making an organisation profitable and achieve success in its way. Morrisons basically lays emphasis on these 4ps with respect to identify the right target market and the right prices over the products and services for the customers. This initiative provides a benefit of having more satisfied customer segment and maximisation of the profits.The organisation analyse the external and internal factors and lays an emphasis on the aims and strategies about the marketing and corporate activities (Goel.et.al, 2010).
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