Retail Marketing Assignment | Marketing Assignment

Creating A Range Of Own Brand
Product
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TABLE OF CONTENTS
INTRODUCTION................................................................................................................................3
COMPANY OVERVIEW.....................................................................................................................3
Market position................................................................................................................................3
Targeting..........................................................................................................................................4
Strategic options..............................................................................................................................5
MANAGEMENT REPORT.................................................................................................................6
Primary sources................................................................................................................................6
Buying..............................................................................................................................................7
Supply chain....................................................................................................................................8
Issues ...............................................................................................................................................8
RECOMMENDATIONS......................................................................................................................9
CONCLUSION..................................................................................................................................10
REFERENCES...................................................................................................................................11
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INTRODUCTION
In order to impact the market share and enhances the brand image of enterprise and their new
products it is essential for business to focus on retail marketing of their product range. Retail marketing
is consider as the procedure through which the independent retailer encourage and create awareness of
their new product range in the market in order to generate the volume of sales. Furthermore, it also
plays significant role sin promoting and marketing their products and services in the contemporary
scenario. Product launch and marketing decisions must be made as per the consideration of brand
image (Kotler, 2004). In this respect, it is also necessary for the management of retail firm to concern
about name, sign, symbol and design 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 work
culture of Best-One one of the convenient store in UK that focuses on selling grocery item in the
market. Furthermore, the report will also focus on providing detailed information about the current
market position of company in this competitive market, organisational core competencies, target
customers, etc. It will also have key spot light on diverse concepts that can assist in creating a range of
own brand products. Classification of concepts can be as primary sourcing, buying, supply chain,
merchandising and market issues. It will assist project manager to meet goals in an effective manner
and design activities as per the business needs.
COMPANY OVERVIEW
In order to have better creation and launch of new product, it is necessary for project manager
to understand the nature of organisation. In this support, Best-One one of the convenient independent
store based in UK. The grocery retailer has around 600 stores within the UK region and is consider as
an efective segment of Bestway group. Organisation key motive is to offer best products in terms of
quality and value at very low prices as compared to other competitors in the market (Babić, 2011).
Company provides an excellent mix of diverse retail products such as fresh food, grocery, clothing,
leisure and entertainment products. The retail store also deals in serving fresh bread, ready to eat
meals, beers, wines, fresh vegetable fruits, frozen items etc. to the customers of UK. Furthermore, the
independent retailer also focuses on delivering the range of 1500 chilled and frozen items to the
customers (Best-one, 2016).
Company retail stores are well located in the middle of the UK market and it has great positive impact
on the all aspects of business as well as local community. Other than this, Best-one is considered as one
of leading independent retail chains in UK which has optimistic presence in towns, cities and retail
parks in all across the UK. Sometimes, management of Best-One faces few critical marketing issues
due to its misleading advertising. Few of its suppliers were also spotted to involve in illegal
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employment practices which also impacts the brand image of company in a negative manner (Goi,
2009). Moreover, organisation is committed to provide better values and work quality to its strategic
partners as well as customers in order to gain competitive advantage.
Market position
As per the economic report of UK, it has been spotted that retail sector of UK is having some
rapid changes in its operations and it has boosted business opportunities for the management of Best-
One. Statistical report indicates that market share of Best-One is high and it is considered as a one of
the largest retail organisation within UK that provides number of retail products to the target
customers. In support of this, it can be said that introduction in the product range Best-one is
continuously having advancement in its sales and improving its market share in the retail sector
(Ballou, 2007). It is also beneficial for its parent firm as it increases profit margin ratio for the better
success. Other than this, it has also been spotted that competitors of Best-one have lost their market
share which is also advantageous for this business firm. Trading conditions in UK market are
challenging and competitive so management of the independent retailer is continuously looking
forward to improve performance (Bowersox, 2002).
Moreover, brand image of Best-One is strong in the market as compared to diverse competitors
and company is effectively presenting its products and services in the market with an assistance of
promotion techniques. As the Best-One is consider as one of the convenient retail store in UK that
serve different segment customers. It also provides a great level of assistance to the customers’ needs
by offering high quality of retail products in the market. Company promotes benefits of its products
and services in order to attract more and more customers (Slater, 2007). In other aspect, it can be said
that Best-One independent retailer holds impressive 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 in requirement and taste of its target market. It is also one of
key reasons that company is effectively meeting the needs of customers and it has direct positive
impact on the organisational success (De Pelsmacker, 2007). This kind of positive aspect also
influences the customer perception and motivate them to purchase products of the firm as compared
with other key competitors such as Tesco, Sainsbury, etc. Moreover, it also renders a great support to
organisation and facilitates in dealing with competitors in the market. It also allows business firm to
bring some differentiation in their products so that business can have impressive success. Another
positive impact on the business is related to the improvement in productivity, profitability and market
share (Kenning, 2008). It also provides better strength to customer base which is one of the ultimate
objectives of business firm.
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