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Creating A Range Of Own Brand Product - Asda

   

Added on  2020-01-21

13 Pages5316 Words111 Views
Creating A Range Of Own BrandProduct1

TABLE OF CONTENTSINTRODUCTION................................................................................................................................3COMPANY OVERVIEW.....................................................................................................................3Market position................................................................................................................................3Targeting..........................................................................................................................................4Strategic options..............................................................................................................................5MANAGEMENT REPORT.................................................................................................................6Primary sources................................................................................................................................6Buying..............................................................................................................................................7Supply chain....................................................................................................................................8Issues ...............................................................................................................................................8RECOMMENDATIONS......................................................................................................................9CONCLUSION..................................................................................................................................10REFERENCES...................................................................................................................................112

INTRODUCTIONCreating and launching a new product range is one of significant factors for every businessorganisation as it impacts the overall market share and brand image of firm. In this aspect, brandingplays a key role in order to boost the effectiveness of decision making process. Product launch andmarketing decisions must be made as per the consideration of brand image (Kotler, 2004). In thisrespect, it is also necessary for the management of retail firm to concern about name, sign, symbol anddesign in order to have better creation and launch of new product. In order to have better understanding about the concern topic, learning will focus on the workculture of ASDA. It will provide detailed information about the current market position of company inthis competitive market, organisational core competencies, target customers, etc. It will also have keyspot light on diverse concepts that can assist in creating a range of own brand products. Classificationof concepts can be as primary sourcing, buying, supply chain, merchandising and market issues. It willassist project manager to meet goals in an effective manner and design activities as per the businessneeds. COMPANY OVERVIEWIn order to have better creation and launch of new product, it is necessary for project managerto understand the nature of organisation. In this support, ASDA is a supermarket retail chain which isowned by American retail corporate named Walmart. It is considered as one of key leaders in the retailmarket. Organisation key motive is to offer best products in terms of quality and value at very lowprices as compared to other competitors in the market (Babić, 2011). Company provides an excellentmix of diverse retail products such as fresh food, grocery, clothing, leisure and entertainment products.In support of this, it can be said that ASDA is currently handing 525 retail stores in UK which provideeffective approach to the target customers and lead business to impressive success. Company retailstores are well located in the middle of the UK market and it has great positive impact on the allaspects of business as well as local community. Other than this, ASDA is considered as one of biggest supermarket retail chains in UK whichhas optimistic presence in towns, cities and retail parks in all across the UK. Sometimes, managementof ASDA faces few critical marketing issues due to its misleading advertising. Few of its supplierswere also spotted to involve in illegal employment practices which also impacts the brand image ofcompany in a negative manner (Goi, 2009). Moreover, organisation is committed to provide bettervalues and work quality to its strategic partners as well as customers in order to gain competitiveadvantage. 3

Market positionAs per the economic report of UK, it has been spotted that retail sector of UK is having somerapid changes in its operations and it has boosted business opportunities for the management of ASDA.Statistical report indicates that market share of ASDA is high and it is considered as a third largestretail chain organisation within UK that provides number of retail products to the target customers. Insupport of this, it can be said that ASDA is continuously having advancement in its sales andimproving its market share in the supermarket sector (Ballou, 2007). It is also beneficial for its parentfirm as it increases profit margin ratio for the better success. Other than this, it has also been spottedthat competitors of ASDA have lost their market share which is also advantageous for this businessfirm. Trading conditions in UK market are challenging and competitive so management of ASDA iscontinuously looking forward to improve performance (Bowersox, 2002). Moreover, brand image of ASDA is strong in the market as compared to diverse competitorsand company is effectively presenting its products and services in the market with an assistance ofpromotion techniques. It also provides a great level of assistance to the customers’ needs by offeringhigh quality of retail products in the market. Company promotes benefits of its products and services inorder to attract more and more customers (Slater, 2007). In other aspect, it can be said that ASDA holdsimpressive position in the market and provides a wide range of services to its target customers. Further,organisation is well known for bringing modifications in the products and services as per the change inrequirement and taste of its target market. It is also one of key reasons that company is effectivelymeeting the needs of customers and it has direct positive impact on the organisational success (DePelsmacker, 2007). This kind of positive aspect also influences the customer perception and motivatethem to purchase products of the firm as compared with other key competitors such as Tesco,Sainsbury, Aldi, etc. Moreover, it also renders a great support to organisation and facilitates in dealingwith competitors in the market. It also allows business firm to bring some differentiation in theirproducts so that business can have impressive success. Another positive impact on the business isrelated to the improvement in productivity, profitability and market share (Kenning, 2008). It alsoprovides better strength to customer base which is one of the ultimate objectives of business firm. TargetingIn order to gain success, it is necessary for business firm to focus on effective targeting of itsproducts so that business can have impressive success. In order to target products, management ofASDA is currently focusing on customers who are more attracted towards health conscious products.Classification of target group can be as youngsters, sports person, women, etc. In this support, to attractmore and more customers, business organisation is currently focusing on various promotional tools4

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