Comprehensive Marketing Analysis: Greggs PLC's STP and Marketing Mix

This report provides a comprehensive marketing analysis of Greggs PLC, a prominent organization in the service sector. It begins with an introduction and company overview, highlighting Greggs' high free cash flow. The core of the report focuses on Greggs' marketing strategies, including its approach to customer insight and awareness. It delves into the STP (Segmentation, Targeting, and Positioning) discussion, examining how Greggs segments its target population based on age, gender, geography, and lifestyle, and how it emphasizes economic factors in targeting. The report then explores Greggs' positioning strategies, particularly its use of direct mail promotions. Furthermore, it provides an in-depth analysis of the marketing mix (7Ps: Product, Price, Place, Promotion, People, Physical Evidence, and Process), detailing Greggs' approach to each element. The report concludes with recommendations for Greggs to maintain its retail environment and tailor employee training for advancement. References to relevant marketing literature support the analysis.

Marketing

Table of content
• Introduction and Company overview
• STP discussion
• The marketing mix (i.e.: ‘7Ps’)
• Conclusion
• Recommendation

Introduction and overview of the
company
• Greggs Plc is an organisation
that has been working in the
service sector.
• This organisation has high
free cash flow (Harish, R.,
2008).

Marketing of Greggs
• Greggs uses insight and listens
to clients on a regular basis in
all of their campaigns.
Awareness is increased about
who client is, the demographic
area aiming to reach, and also
what drives their purchasing
decision.

STP discussion
• Segmentation – The marketing
tactics used by this company
includes segmenting the target
population on the basis of age,
gender, geographical area,
lifestyle (Išoraitė, 2009).
• Moreover, customer preference is
also focused while managing the
services.

Targeting
• The economic factors are emphasized upon when target
population is selected.
• Greggs Plc will select one or more divisions based on the
features of the segments as well as the company's capital,
skills, and growth goals.

Positioning
• Greggs positions product with the planning and
management of direct mail promotions.
• They frequently have mailing lists that are tailored to your
target market, as well as designing and writing direct mail
items (Keller, 2011).
• Direct marketing agencies will also provide you with
shipping products and tracking customer reaction to your
campaign.

The marketing mix (i.e.: ‘7Ps’)
• Product
• Price
• Place
• Promotion
• People
• Physical evidence
• Process

Product
• Greggs Plc ensures a high level of product consistency.
• Adding value at various levels of the value chain helps to retain
high commodity consistency.
• Greggs Plc only buys raw products from reputable and trustworthy
manufacturers. This raw materials are handled in closely controlled
conditions to ensure that the product consistency remains good and
reliable.
• Greggs Plc has a clear strategic edge due to its high quality
promise and execution.

Price
• Greggs Plc promotes positive brand and quality
perceptions of target market groups by leveraging higher
prices on some of its product lines.
• Premium commodity pricing also allows customers to
think of Greggs Plc goods as being of high quality.

Place
• In both markets, the group retains stores operated by
Greggs Plc executives.
• Greggs Plc has more control over processes, as well as
shop layout and architecture, when it operates its own
stores.
• Greggs Plc often communicates actively with customers
and collects valuable information about their attitudes and
input from company-owned stores.

Promotion
• Greggs Plc has accounts on all major social media
platforms and portals. Greggs Plc uses social media to
communicate directly with customers.
• Greggs Plc can better understand its clients, their desires,
and expectations as a result of this direct communication
and interaction.

People
• Greggs Plc ensures that all workers receive daily training
in order to further their skills.
• Greggs Plc's trainings are not only about the field, but
rather about key management and leadership skills.

Physical evidence
• Greggs Plc's retail architecture and management was both
entertaining and innovative (Kerin, Hartley and Rudelius,
2014). Customers will feel happy and at home in the shop,
which will enable them to engage with and appreciate
Greggs Plc's product offerings.
• Greggs Plc's shop design is also significant because it
determines the level and essence of the customer's
experience and engagement with the merchandise and the
company.

Process
• Greggs Plc's activities are well established and reported
to its staff. Greggs Plc ensures that its staff are well-
trained and informed in all operations procedures (Kotler
and et.al, 2020).
• Both phases of the operating phase are focused on
ensuring a consistent degree of product consistency and
norm.

Conclusion
• From the above discussion, it is concluded that marketing
employs a variety of strategies to promote the goods or
services. Once a product has been marketed, it has now
been brought to the attention of the public, which raises
the odds of selling it.

Recommendation
• It is better for Greggs Plc to monitor and maintain the
retail environment in order to favorably affect shoppers
and cater to them personally in company-operated stores.
• Greggs Plc's training sessions and events should tailored
to the needs of its employees in terms of advancement,
improvement, and growth.

REFERENCES
• Harish, R., 2008. Brand Architecture and its Applications in Strategic
Marketing:The Example of L’Oréal. The Icfai Journal of Marketing
Management, 7(2), pp. 39-51.
• Išoraitė, M., 2009. Theoretical aspects of marketing strategy.
Ekonomika ir vadyba: aktualijos ir perspektyvos: mokslo darbai,
Volume 1, pp. 114-125.
• Keller, K., 2001. Mastering the marketing communications mix : Micro
and macro perspectives on integrated marketing communication
programs. Journal of Marketing Management, Volume 17, p. 819–847.