This is a solution of Marketing Across Boundaries part 2 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.
Marketing Across Boundaries part 2
The corporate level objectives are concerned with the set vision and mission of the company for the next 8 years approximately. The corporate objective of Morrisons for about next 5 years is enhancing the profits nearly about 6% and which could be possibly achieved with the help of effective marketing activities. The corporate objectives are entirely dependent on the marketing objectives and is been framed by the marketing planning of Morrisons by keeping in minds the expectation of both the aspects. Both marketing and corporate objectives must move with each other as it would help them assist in achieving the goals eventually. The marketing strategies of Morrisons include various factors like advertisements, promotions, offers, discounts, schemes, etc. and entirely focus on the definite achievement of goals and develop a brand value and profits in the market (Hill, 2013). There are several marketing techniques being utilised by the marketing department of Morrisons which helps in making the products and services more effective and attract the customers towards it. There are several marketing tactics such as online marketing, digital marketing, direct marketing, promotions, advertisements, print media, etc which are used at Morrisons. Morrisons had initiated to move towards the marketing techniques like online marketing and digital marketing. The marketing activities through the online sources like social media, emails, advertisements, etc. are much effective nowadays and also lead to profitability to the organisations. The organisation had planned to attain a presence online as well by making various innovations and improving the existing framework (Jeffs, 2010). By making the use of digital marketing techniques Morrisons would be creating, integrating, targeting and communicating with the customers and retail them by building a relationships among them. Digital marketing basically includes an ownership of the brand, engagement, intelligence, budgeting and the content of promoting the products and services over a large platform of internet. Morrisons also adopts some of the promotional activities like social events, providing the products with special discounts or offers to the customers.
The organisation also provides the customers with various schemes and offering to make them delighted (Chaffey and Ellis-Chadwick, 2012). The digital marketing in Morrisons is entirely based on the internet and had also introduced special ads through digital marketing devices like Smartphone, tablets, computers, etc to make the customers aware about the products and services. The organisation had made use of search engine optimisation which enables it to list the brand name of Morrisons at the top. This initiation highlights the name and people tend to observe at least once when using the search engines. To develop and attain growth in the brand image and the products and services Morrisons could make use of the Ansoff’s matrix strategy which suggests four alternatives of marketing strategies to be used in the existing or any of the new products. With the help of these strategies the organisation could overcome with the threats and attain competitive advantages among the rivalries. It manly includes the market penetration, market development, product development and diversification. The basic purpose of this matrix in Morrisons is to set an idea about how to grow the business operations on the basis of either existing products or the new products in the markets (Jobber and Ellis-Chadwick, 2012). The organisation also acquires adequate information about the best suitable way to develop the brand with the optimum utilisation of the resources. Morrisons had been assisted with this strategy in many ways like bringing improvements in the food products being offered at present, changing the packaging of the products to make them more attractive and increase the sales outcome. Morrisons focuses on providing the fresh food products with valuable services to the customers and bring a diversified range in the products and services in the market. In addition to this, Morrisons has a vision to become a food specialist for everyone and tries to approach large number of customers in the market.
To acquire a successful recognition in the market it is very important for Morrisons to analyse the market conditions and position with respect to the products and services and thus needs to carry out a market research so that to gain the actual picture of the market and the related factors. With the help of conducting a market research the organisation would be able to avail the information about the current market trends, the taste and preferences of the people, presence of alternative choices or the substitutes in the market, etc (Lee and Kotler, 2011). The process of market research in Morrisons is normally concerned with the study of different factors of marketing and the outer environment to find out the most efficient manner of running the operation within the market.The basic purpose behind the market research is to assess the information about the market needs, trends and alternatives.
The marketing research process of Morrisons mainly includes the identification of problem, evaluating the research objectives, collecting the information, analysing the alternatives, implementing the results and the feedbacks in the operations. With the help of market research the management of Morrisons would be able to depict the actual expectations of the customers and the demands and supply of the products and services. The demand of the products justifies the popularity of any of the products in the market. Morrisons had to work on the products positioning and making the brand known to everyone. To attain effective marketing outcomes the organisation would have to plan to have the strategies of segmentation, targeting and positioning of the brand and its products and services. The market segmentation of Morrisons could be performed on the basis of various factors such as geographical, psychographic and behavioural segmentation (Ramsay, 2010). Market segmentation assists Morrisons in gaining growth and expansion over the business operations and attains more profitability. Morrisons at present is performing well with respect to its sales parameters and bringing diversification in the segments. The establishment intends to expand its operations across the boundaries and thus segmentation and diversification are must to be focused on. Morrisons targets men, women and kids to offer its diversified products and makes proper use of social and print media, provide them with special discounts and other perquisites (Solomon.et.al, 2014). These sources are been utilised by Morrisons to make the people aware about the products and services and attract them in large numbers. The targeting strategy assists Morrisons in confining the widespread segments as it is very much complex to bring diversified natured products at one place. Further, to attain sustainable positioning strategy the organisation opts for the promotional activities like making the people aware about the products and services and attracting them towards it. Morrisons strives hard to position its brand over other competitors and makes the customers incline towards its products by offering low priced products at high qualities.This initiative would also be helping out in meeting the competitive advantage and raising the standards of its brand.
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