Marketing of Product & Achieving Goals: A Detailed Report

This report gives detailed information about marketing of product & achieving of goals within a time period. In this focused area are STP, marketing mix and objectives.

individual report

EXECUTIVE SUMMARY
Business is changing with rapid time period which leads to rise in competition. In market, it
has become important for organisation to carry out the product and services in such a way that goals
as well as objectives are achieved in proper manner. This report gives detailed information about
marketing of product & achieving of goals within a time period. In this focused area are STP,
marketing mix and objectives.

Table of Contents
EXECUTIVE SUMMARY .................................................................................................................2
INTRODUCTION................................................................................................................................4
MAIN BODY.......................................................................................................................................4
Marketing environment ...................................................................................................................4
Competitor review-..........................................................................................................................6
STP approach...................................................................................................................................6
Market entry strategy ......................................................................................................................7
Marketing objectives .......................................................................................................................8
Marketing Mix.................................................................................................................................9
CONCLUSION...................................................................................................................................11
REFERENCES...................................................................................................................................12
Books & Journal:...........................................................................................................................12

INTRODUCTION
In today's world, every individual is focused towards their health and fitness. With this
changing time period, it has become important for everyone to eat healthy as well as nutrition food.
To remain healthy, it has become essential to be aware about nutrition food at wider scale.
MISFITS, which is small organisation headquartered in U.K. Firm deals in diet foods as well as
products and operates its activities across the globe. This report includes marketing environment,
competitive review, STP, marketing entry strategy, objectives and marketing mix. The specified
areas are essential for accomplishing the results.
MAIN BODY
Marketing environment
It is defined as process of examining the impact of external as well as internal factors that
have impact on organisational capabilities to carry out their functions & operations(Saura, 2017).
It includes macro & micro environment. In macro it involves PESTEL analysis whereas in micro it
comprises of SWOT analysis.
PESTEL Analysis of MISFITS
It is a framework which is used by entities to examine external factors which affects the
firm capabilities externally. It involves elements which are discussed below-
Political factors-
It is a element in which it have impact on company's business. As company is located
globally, they have are being affected by political factors. Like risk of military invasion, the level
of corruption and regulation in consumer goods area is becoming more complex. Also, with rise in
this industrial sector, necessity of intellectual property protection has become essential (Camilleri,
2018).
Economic factor-
This comprises of inflation and deflation rate, interest rate etc. which are non- controllable
and slows down the growth of company in market. In context with Herbal Life, they use this factor
in beneficial way because of headquartered based in host country which results in competitive
advantages. It is beneficial for them to carry out the personal products easily because of knowledge
of market area and economy.
Social element-
In this, it involves belief, behaviour, attitude etc. which results in way of doing thing
business in culture or society. In reference with chosen firm, with use of demographic variable
they focus on social factor as it includes skill level of population, culture, leisure interest etc.
Technological-

Within in recent years, technology has been changes at depth level. In relevance with
undertaken entity, they get affected by this element because of current development and use of
advanced technology in business of their competitor.
Environmental-
It comprises of environmental standards & variables like pollution, green agenda etc.
which are essential for every entity to run business smoothly. In relevance with selected firm, as
they are producing healthy protein meat they need to use nutrition resources because every country
have different form of environmental regulation mostly in European countries.
Legal-
It is focused in contracts, agreements, etc. which are governed under the rules or regulation
of government. So, MISFITS protects their IPR (Intellectual Property Rights) by proper market
research. It is difficult for them to protect their IPR in new countries or market area because of large
business sector (Lin, 2019).
SWOT Analysis
It is a tool which is used by entity to examine internal capabilities of organisation. It is a
time consuming process because it requires deep level of market research.
Strength
 MISFITS main strength is that they are
located globally and have strong network
connection (Bao, 2019).
 Firm has goodwill in market by which
investors easily invest in business & also
provide trainers to company.
Weakness
 Company's weakness is that because of
increasing competitors in market, they
have to use internal feedback
mechanisms which is time consuming to
tackle problems/ issues faced by them.
Opportunity
 Organisation has entered into online
platform to run business which leads to
opportunity to strengthen consumer base
worldwide.
Threats
 Due to rise in profit of sector, it has
invited more competitors which can
dominate the business of MISFITS by
new strategies.
Competitor review-
Competition is essential for business which is required to examined with proper analysis.
In food company, specially in nutrition foods level of competition has risen the opportunities in

market. So, in context with chosen firm they have many competitors like Rite aid, Shoppers Drug
Mart,Grub Market, Food Maven, Local Brushel and Walgreen. Below is competitor review of
Misfit
BASIS Herbal Life Walgreen Misfits
Employees
The company
employees 8,900
people worldwide.
Firm have employees
over more than 440,000
people globally and is
still increasing.
(Puurunen, 2020).
It has 53,100 people
within the business of
food nutrition food.
Products IT focuses on nutrition
products like shakes,
energy drinks, formula
1 protein shake etc.
They also provides
ample number products
like personal care, oral
care, deodorant &
antiperspirant and
many more.
It makes delicious
nutrition food, meats &
dairy products directly
from plants.
Innovation They are focused
towards their
innovation because
they introduce more
new products in market
with changing demands
of people.
They extends their
product line with
extensible marketing
strategy.
To focused on
innovation they are
providing healthy
protein meat which will
be healthy as well as
delicious.
Customer base
It has strong customer
base of 7.9 million end
users because of its
diversified based
business.
It has around 8 million
customers across globe
because of its large
product portfolio.
The customer base of
MISFIT is flexible and
fluctuating depending
upon demand ratio of
market (Chow, 2020).
STP approach
It is a marketing approach which is used by entity to identify their potential market for
business. In relation with MISFIT, they use this approach to examine market as well as customers
for business . It is further explained below-
Segmentation

It is a process of dividing of market on the basis of different variables to target specific area
for business. Its is done on basis of different variables like demographic, psycho graphic, etc. So,
selected entity uses demographic variable to segment their market. Currently selected enterprise
distribute their products in UK.
Targeting
It refers to targetting the identified target market segment. Targetting is also done on
several variables such as customer accessible, money, difference between segments etc. It assist me
to use their resources and manpower in most efficient manner. Currently with change of climate,
Misfit is targetting China market for their global expansion due t rise in demand of meat all over the
market (Udriyah, 2019).
Positioning
It is most crucial component of approach because it is often seen that customers purchase
product mostly on basis of position of a brand. Positioning refers to process of creating a image in
mind of end users in market. In context with selected enterprise, they have been established
themselves as affordable brand so that every customer is able to use their nutrition and healthy food.
Market entry strategy
In business, global expansion is not easy which requires deep level of market analysis to
enter into a new market. It is important for every business to adopt strategy to run functions of
business properly. In context with undertaken entity, there are various market entry strategy which
can be used by them are discussed below-
Franchising- It is defined as license of doing business by allowing franchisee to access
business of a owner under the brand name. In this process, a some amount of fees is charged against
this service. It is most beneficial market entry strategy which is used by many organisations.
Through use of this, entry to global market become more easy (Nguyen, 2020).
Licensing- It refers to process in which permission is given by licensor to other party to use
product or service for specific period of time. This can be difficult or say riskier strategy to use it
for global expansion because every detailed information is needed top be given to other party.
In reference with chosen firm, they to expand their business globally they uses franchising
because it is mostly adopted by food chains industry & minimum changes are being done by them.
Moreover, with use of this strategy it will be easier to sell protein meat in China because of rise in
demand & franchising with other parties based in respective host country.
SWOT ( Franchising)
STRENGTH
 This strategy is helpful as it is easy to
WEAKNESS
 In this type of strategy, the initial cost of

use and organise it.
 Another strength is that company do not
haver to think about customer portfolio
because it is established within the firm
only.
setting up is high which might disrupts
the environment of MISFIT.
OPPORTUNITY
 It gives opportunity of exploring new
business in new areas.
THREATS
 This is mostly used by many other
competitors which will try to dominate
business of MISFITS in China (Park,
2020).
So, stated paragraph shows that franchising strategy is being used by MISFITS for global
expansion of business in China. Therefore, it is to be carried out with proper consideration so that
decision making process is done in most effective way. By analysis of SWOT the rationale for
using franchising is examined.
Marketing objectives
These refers to aims or purposes set by firm to accomplish both long term & short term
goals with a time period. It is crucial for every corporation to clarify their objectives so that
problems do not occur in near future. Manager of company need to be focused and aware about all
processes. In relevance with chosen enterprise they use SMART objectives to achieve these goals
which are explained below-
SMART
Specific- It states that each and every objective of corporation needs to be specific with
detailed information so that people involved in process are able to understand main purpose. Thus,
selected brand objectives is specific as their main aim is to expand business globally in China with
their food product which is protein meat.
Measurable- It specifies that objective which has been undertake is required to measurable
so that progress of business is known. To analyse this, selected enterprise has distributed their
sample products in China through which they will able to examine their progress level (Mani,
2019),
Achievable- It depicts that aims which is considered is to be achievable so that it is easier to
use skills of employees accordingly. So, given enterprise objectives are achievable as they want to
increase sales of protein meat by 4 per cent within two months which is easy to achieve.

Realistic- It shows that goal is needed to be realistic in nature so that people trust remain in
business. For example- MISFITS has realistic objectives like to achieve distribution and suppliers
networks in China for business within a year to increase brand awareness.
Time- Then comes time oriented component in which it is essential to be be aware about
deadline of every task whether they are on track or not. Because it will help in carrying out the
objectives, projects easily. So, to analyse time orientation chosen firm uses WBS & Gantt Chart.
These tools assist in determining the progress of project with time which is beneficial for company.
Marketing Mix
It is process of marketing in which it includes set of tactics which is used by companies to
promote or advertise their product (Gunyakti, 2019). It is most critical approach which is used many
organisation for the development of business in proper manner. It gives detailed procedure about
when, how and what to use during process. It involves several components which are described
below-
7 P'S MISFITS Food Maven
Product Main product of firm are Vegan
Protein powder, memory
capsules, etc. They introduces
their products on basis of
market segmentation &
Food Maven products are of
various types includes shallots,
grains, frozen chicken etc.
They focus more on groceries
products (Rajavi, 2019)

demands.
Price Price is value which is used for
exchanging of goods or
services. In reference with
chosen entity they use value
based pricing strategy because
in this price is set by customers
achievable expectation.
Food Maven also use pricing
strategy and focus on their price
as they adopt competitive
pricing in their brand.
Place
It refers to location where firm
is present physically. Misfits is
located both physically as well
as virtually over the internet.
This company is located across
different countries which
makes it easy for customers to
access their products.
Promotion It is procedure of creating a
brand awareness in market.
Thus, company promote their
product via e-commerce
websites, You tube etc.
They also do promotion of their
brand and product by merging
up with hotels, restaurants, etc.
For example- Hilton have
merged up with Food Maven.
Physical evidence
It refers to proof of entity that it
does physically exist. So, in
relevance with given enterprise
they are located in UK and have
warehouses at different
locations also they provide bill
of their products to every
customers.
Organisation exist physically as
they provide delivery of
product within firm
manufactured boxes which
gives a physical evidence of
firm (Saura, 2017).
Process
It refers to system which deliver
the product to customers. So, in
this it involves logistic supply
chain, after sale service, etc.
(Camilleri, 2018),
In context with this enterprise,
they heir suppliers,
transportation comes under this
category.
People This is last stage of 7 P'S of
marketing in which it includes
those who encounter the
In this, it comprises of people
who are responsible for
increasing profit, sales of firm.

customers on daily basis. For
example- employees, salesman,
etc. are people.
Like personnel, staff etc.
The above examined paragraph depicts that by analysing 7 P'S of marketing it is easier for
entity to carry out business operations, functions smoothly. With use of these tactics, conflicts,
problems or issues get eliminated up to some extent. Moreover, decisions are being taken with
proper research & analysis.

CONCLUSION
After a brief analysis of above report, it has been concluded that globally expansion
required deep level of information, research, manpower and expertise. In present report,
discussions have been made about marketing environment, PESTEL & SWOT Analysis, smart
objectives. Then , further competitor review, marketing entry strategy and marketing mix of
company has been discussed briefly. Thus, it is seen that with help of global expansion profit, sales
revenue, productivity increases at higher scale. Therefore, with depth analysis and knowledge
objectives are achieved by entities.

REFERENCES
Books & Journal:
Saura, 2017. Understanding the digital marketing environment with KPIs and web analytics. Future
Internet,9(4), p.76.
Camilleri, 2018. The marketing environment. In Travel marketing, tourism economics and the
airline product(pp. 51-68). Springer, Cham.
Lin, 2019. PESTEL Analysis of Smart Tourism Public Service Informatization in Chengdu. Journal
of Hebei Tourism Vocational College, (3), p.2.
Bao, 2019, September. Construction waste cross jurisdictional trade under PESTEL context.
InSustainable Buildings and Structures: Building a Sustainable Tomorrow: Proceedings of
the 2nd International Conference in Sutainable Buildings and Structures (ICSBS 2019),
October 25-27, 2019, Suzhou, China(p. 283). CRC Press.
Puurunen, 2020. A hybrid SWOT analysis of the neuromodulation process for chronic pain. British
Journal of Neuroscience Nursing,16(2), pp.76-85.
Chow, 2020. Promoting Physical Activity in Group Home Settings: Staff Perspectives through a
SWOT Analysis.International Journal of Environmental Research and Public
Health, 17(16), p.5805.
Udriyah, 2019. The effects of market orientation and innovation on competitive advantage and
business performance of textile SMEs.Management Science Letters,9(9), pp.1419-1428.
Nguyen, 2020. Market entry strategy to the Finnish market. Case company: Klimato.
Park, 2020. Market entry strategies in a high-tech successive generations market: a case study of
three semiconductor firms with different entry modes.Journal of Business & Industrial
Marketing.
Mani, 2019. Franchising research in marketing: suggestions for future research. In Handbook of
Research on Distribution Channels. Edward Elgar Publishing.
Gunyakti, Microsoft Technology Licensing LLC, 2019.Programming interface for licensing. U.S.
Patent 10,437,964.
Rajavi, 2019. In Brands We Trust? A Multicategory, Multicountry Investigation of Sensitivity of
Consumers’ Trust in Brands to Marketing-Mix Activities.Journal of Consumer
Research,46(4), pp.651-670.