Marketing Plan for Co-op Food

BUSM 4302
STRATEGIC MARKETING IN THE DIGITAL
ECONOMY
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Executive Summary
This report presents the marketing plan for Cooperative (Co-op) food in order to help this
company to acquire customers through pricing and sales and also acquire customers through
online branding. By using SOSTAC planning system, this marketing plan has been
developed. Based on the analysis of the current situation in terms of the external and internal
environment of co-op food, objective to increase brand awareness, company sales and market
share has been set. Based on market segmentation, the target market of younger generation
people are chosen in this market plan. In order to achieve these objectives, tactics such as
implementation of market penetration pricing strategy, value based pricing strategy and
marcom mix elements have been recommended in this marketing plan. As co-op food
consists of relatively less effectiveness of owned media, this marketing plan suggested the
need of acquiring earned media in order to acquire customers with the help of digital
branding. The actions and the control measures that have to be implemented and detailed in
this report.
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CONTENTS
1.EXECUTIVE SUMMARY
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......2
2.INTRODUCTION
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..................4
3.SITUATIONAL
ANALYSIS...................................................................................................
.................5
Co-op SWOT Analysis
4.OBJECTIVES
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........................8
5.MARKETING SEGMENTATION, TARGETING AND POSITIONING
................................................8
6.TACTICS...................................................................................................
............................................9
MARKETING MIX COMMUNICATION TOOLS
MESSAGES FOR SOCIAL MEDIA, EMAIL AND CONTENT MARKETING
7.ACTIONS AND
CONTROLS...................................................................................................
...........11
8.CONCLUSION
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...................12
9.REFERENCES
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.....................13
10.APPENDIX
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.......................14
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Introduction
Corporative food (co-op) is part of co-op group which is largest mutual business company in
UK. Initially established in the year 1844, co-op group has undergone several changes
resulting in the formation of this mutual business (Co-op, 2018a). Co-op food is one of the
key businesses of co-op group offering high quality food products to the people. Co-op food
holds 6th position as the largest retailer in the UK (Mckevitt, 2018) (Appendix A). With
growing potentiality of UK convenience market, it is important for co-op food to with stand
the growing competition from leading super markets in the UK. A marketing plan is proposed
for co-op with the main intention of withstanding the competition level by acquiring
customers through digital branding, pricing and sales. With the help of SOSTAC planning
system (Smith, 2011), this marketing plan is prepared with contents such as situational
analysis, objectives, strategies, tactics, actions and control.
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