Marketing Analysis and Stakeholder Involvement

This assignment provides a comprehensive analysis of Asda's marketing function, including PESTLE analysis to examine external business environment and aid corrective course of action for high profit maximisation. Stakeholder involvement is also discussed, highlighting their role in shaping company decisions and adopting innovative techniques. The report emphasizes the significance of marketing in satisfying customer demands and gaining competitive advantage.

Marketing
Fundamentals
Analysis and
Evaluation

Table of Contents
INTRODUCTION .........................................................................................................................1
TASK 1A.........................................................................................................................................1
Application of PESTLE analysis and Marketing strategy......................................................1
Role of marketing in generating value for customers ...........................................................5
Stakeholder involvement and their influence on marketing activities ..................................6
TASK 1B.........................................................................................................................................6
Reflective statement ..............................................................................................................6
CONCLUSION ...............................................................................................................................7
REFERNCES ..................................................................................................................................8
.........................................................................................................................................................8

INTRODUCTION
Marketing is the process of acquiring or getting potential clients or customers interested
towards company's products or services. However, the key term which is involved in this
definition is 'process' which encompasses researching, promoting, selling and distributing goods
or services. Moreover, this discipline centres on the study of market and consumer behaviour and
it evaluates commercial management of establishments in order to attract, retain, adopt wide
range of population towards brand image as well as fulfilling their requirements or demands in a
better manner (Bridoux and Stoelhorst, 2014). This report is based upon Asda, which is
recognised as on eof the well known supermarket retailer in UK which is established in the year
of 1949. It serve varieties of products like grocery, general merchandise, financial services across
the globe in an awful or adequate means. In this documents, it comprises stages of marketing as
well as imply PESTLE and marketing mix to determine its productivity among existing
marketplace. Finally, need of marketing and stakeholder within organisation functional areas as
well as conclude the statement in reflective manner is also explained here.
TASK 1A
Application of PESTLE analysis and Marketing strategy
In an organisation, marketing function is considered as an essential component as it
relates with the activities which is related to buying, selling, creating, communicating, delivering
products or services for acquiring increased level of customer satisfaction in an impressive style.
Additionally, it encompasses finding out what consumers want and determining whether its is
possible to deliver it at the right price with an optimal utilisation of resources to enhance brand
image (Cheowsuwan, Arthan and Tongphet, 2017). Furthermore, it comprises product
improvement, market research, goods distribution, sales strategy, public relations and customer
support for acquiring foremost position within a business. However, there is a procedure of
improving marketing function which company adopts into their functional areas for analysing
current marketing situation in order to accomplish sustainable profitability. Hence, marketing
procedure is an activity of analysing the opportunity in market, assortment of target industry,
improvement of marketing mix for placing the Asda's products in an appropriate way for
obtaining high level of productivity. However, Asda implies certain procedure of marketing
which is explained below:
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Analysing opportunities : It is the initial stage in which Asda examine the market in
order to find opportunities which is available in industry as it concern with necessity and wants
of user that are not properly contented or fulfilled by rival within marketplace. For this purpose,
Asda get aid from marketing information system which plays a important function in rendering
relevant data about industry. Moreover, they also conduct market research which convey them
the substance about customers, competitors, general trends, and any modification occurred in
market which help Asda to determine potentiality of their business environment in order to make
best strategic decision (Dibb, 2014).
Selection of target market : After identifying population for product, the next phase is
to choose the target customers which lead them to attain increase firm productivity or
profitability in an effective manner. However, in regard of Asda they divide the whole market
into different segments for fulfilling wide range of individuals demands and wants in a
productive way. In this regard, there are certain steps which Asda follows into its functional
areas are as follows:
Segmentation: Under this, Asda spilt whole market into various units of consumers and each
sections having related characteristics, action of customers that require various marketing mixes
and plan of action.
Targeting: In this activity, targeted segments of entire industry are evaluated to determine the
attraction of each division so that one or two most appropriate and possible section should be
selected and go into.
Positioning: In this concepts, Asad tries to keep a clear and peculiar representation in customers
about brand. Hence, to attain the same Asda specifies competitive edge in order to attain
maximum value and also acquire best positioning within competitive marketplace.
Development of marketing mix: After developing marketing strategy, the next step is to
initiate the planning of its marketing mix i.e. price, product, place, promotion, physical evidence,
process, people as it is combined of certain multivariate of markets which is amalgamated Asda
to create desired response among targeted portion (Hanssens and Pauwels, 2016).
Management of marketing effort: It is relate with the act form of improvement
marketing program in which suited marketing m ix is established for reference marketplace.
However, managing marketing effort four function are acquired by Asda like analyse of market,
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planning, implementation, control for an attainment of increased level of profit margin within
prescribed time limit.
In addition to, an organisation is surrounded by its business environment i.e. internal or
external factors which has huge impact over company's decision making potentiality as well as
over proficiency ratio. However, PESTLE analysis is considered as one of the crucial element as
it enable company to examine its external environment and founded on that help them to make
corrective course of action for obtaining profit maximisation in a better way. Hence, Asda
implies this tool within their business operation or function are discussed below:
Political: IN this aspect, it signifies government policies, regulations, political stability,
rules which has huge influence over firm productivity (Hanssens, 1998). In context of Asda, it
has recently undergoes great modification among its business functions due to Brexit that
negatively impact its profitability ratio. However, Asda overcome this negative effect by
following all policies which is imposed by government and also trained its personnel to
achievable the same in a better manner that lead Asda to acquire increased level of productivity.
Along with this, company is benefited from UK government's political stability which help them
to adapt changes into their functional areas in order to gain competitive advantage.
Economical:Under this concept, it encompasses economic growth, inflation, deflation,
interest rate, GDP and many more that effect company's growth and enhancement. In case of
Asda, in past few years back UK face huge economic recession which challenged its ability to
attain sustainable profitability ratio. Thus, in order to tackle this issue, Asda lowers down its
product price which enable them to attract new customers as well as retain existing individuals
towards their brand image that improves its overall performance within competitive industry.
Social:It is relates with age, customers taste & preferences, income, gender, population
growth etc. which directly effect on organisation decision making ability. Moreover, in regard of
Asda, there was a huge demand of trendy and fashionable clothes among the UK population
which impact its proficiency rate. Therefore, Asda takes an initiative to deliver products as per
the demand of customers which help them to increase high level of customer satisfaction as well
as enhance its volume of sales in an impressive or productive style (Hill, 2015).
Technological: Under this, it signifies advanced or modern technology, novel ideas and
many more in order to adopt best positioning among an existing marketplace. In case of Asda,
there was a immense demand among UK individuals regarding online services as well as latest
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or updated technologies which influence Asda's decision making potentiality in a drastic manner.
Hence, Asda tackle with this challenge by adapting innovative technologies and offer home
delivery service as well as they develop its own app which convenient wide range of population
and improves company's profitability ratio in an innovative or creative style.
Legal: In this aspect, it comprises legal regulation, laws, procedures, policies and many
more which greatly impact over establishment brand image among competitive industry. IN
regard of Asda, they always ensure regarding following all legislation into its functional areas
which enable them to cut down an involvement of government within their concern operation
that enhance its productivity in an effective way (Mitchell and et.al., 2015).
Environmental: It is concern with environmental or eco- friendly product which is
directly link with company's decision making capability. However, Asda deliver its products or
services in a best quality as well as makes an attempt to recycle the waste which help them to
generate positive attitude among UK population towards Asda's brand image in an innovative
and creative style.
Therefore, PESTEL analysis assist Asda to determine its potentiality as well as help them to
survive among UK marketplace for a longer period of timer in an effective and efficient style.
Marketing Mix of Asda
This component is considered as one of the essential element which assist company to
examine market trend and customer demand for which they makes a full effort towards an
accomplishment of accrued level of customer satisfaction. Hence, Asda's marketing mix is
explined below:
Product: It is concern with the quality and diversification of product in order to attract
the attention of customer towards brand image. In regard of Asda, it offers variety of products
like fresh food, grocery, clothing, home appliances, entertainment goods and many more in a
best and high quality which aid them to capture broad range of population attention towards
Asda. Due to which it help them to enhance its competence ratio in an improved mode (Moreau,
Powell and Hicks, 2014).
Price: Under this term,. It is concern with cost of product which consumers pays to
consume the same. However, Asda pursues low cost agenda for its diverse product which enable
them to reach their target customer effectively. Moreover, it sometime adopt promotional pricing
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strategy like it offer discounts, incentive on special occasion that influence each individuals
purchasing behaviour in positive manner.
Place: In this, Asda has two main distribution channel namely online and offline. Hence,
it operates 525 stores across the UK as well as contains own website which make more
convenient to population and improves firm productivity (Nguyen and Jehle, 2017).
Promotion: Asda implies several promotional techniques like television, newspaper,
social media platforms, sales promotion in order to communicate with customers. Due to which,
it benefits them in improving their volume of sales impressively.
Physical evidence: Asda keeps its working environment in a very impressive and
hygienic as well as it is also well known for maintaining its website fantastically which catches
the attention of huge number of individuals toward their brand image.
Process: IN Asda, it employs 1,60,00 personnel who are highly dedicated and committed
towards an accomplishment of organisational goal or objective which directly reflects in
enrichment of firm profitability ratio.
People: Asda applies divisional organisational structure within their functional areas as it
delegate roles and responsibility to each manpower based on their capability which maintain
better coordination among employees and improves its overall performance in a better manner.
Thus, marketing mix assist Asda to acquire best placing among competitive marketplace
and also help them to fulfil customer satisfaction in an expeditious manner.
Role of marketing in generating value for customers
In order to attain high level of profitableness and productivity, consumers are regarded as
one of the primal element in marketing which leads an organisation to reach its content or
objective in an innovative or creative manner without any hindrances. Along with this, marketing
encompasses with several elements like identifying customer need, evaluating marketing trend,
assessing sales potentiality of firm and so on (Powers and Loyka, 2010). Hence, for achieving all
these aspects Asda makes an effort to examine current or future trend of marketplace and based
on that they implement best strategic decision which leads them to obtain profit maximisation
with an optimal utilisation of resources. Moreover, marketing creates, communicates and
delivers values to customers and whereas customers analyze their perceived value of analogous
products when making a determination. Moreover, the foremost purpose of Asda's functional
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areas to find and keep customers as it helping them in improve its promotional strategies like
advertising, sales promotion, public relation, social media etc. which enabl;e them to retain
customers by creating new opportunities as well as to enlarge Asda's productivity. Hence the role
of Asda's marketing to add value towards its customer as it contains several stages which is
discussed below:
Identify customers: IN this, Asda understands customers wants and evaluate whom to
target and how to reach them
Satisfy consumers: Under this, make the right price or product available at correct place
in accurate time (Rafiq and Ahmed, 1993)
Retain individuals: In this find new opportunities to retain their customers towards its
brand in a better manner.
Hence, need of marketing is essential as it lead them to survive within market as well as to attain
sustainable profitability ratio in a better way.
Stakeholder involvement and their influence on marketing activities
Stakeholders is a group of individual who has an interest within firm which can either
affect or be effected by business as Asda's stakeholders are investors, employees, customers,
suppliers. Moreover, they impact over Asda business operation as it enhance long term viability
and success. Additionally, it help company to make best decision and also encourage them to
adopt all innovative techniques which makes them to stand apart among competitive marketplace
as well as enrich its proficiency (Roy and Macchiette, 2015).
TASK 1B
Reflective statement
As per the above explained report which is based upon marketing analysis. In my point of
view marketing is an integral and powerful determinant which lead an organisation to reach
success in an innovative manner as well as enable them to build a better relationship with
customers by satisfying their demands or need. Furthermore, it takes an initiative to analyse
existent market trend and based on that it enable them to form corrective course of action in
order to increase competitive advantage in an impressive way. According to me, usage of
PESTLE analysis help Asda to improve its productivity ratio and also to acquire best positioning
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within competitive industry. Moreover, marketing mix is also regarded as one of the important
determinant which help them to examine current or emerging trend as well as determine
customer taste or preference in order to enlarge Asda's market share or size in a better way. In
addition to, I believe that customers are the king of marketing function who assist an
organisation to enlarge its productivity and profitability ratio in an effectual and expeditious style
within ordained time limit. Along with this, stakeholders invest their full contribution towards
firm brand image which enlarge organisation volume of sales and profit margin in an impressive
or productive style.
CONCLUSION
The above discussed report stated that in order to achieve accumulated level of
development and evolution within competitive industry, marketing function plays a significant
role as it help them to satisfy each customer demand or need in an effectual or expeditious way.
Moreover, PESTLE analysis modify company to examine external business environment as well
as aid them to make corrective course of action for obtaining high profit maximisation. Along
with this, role of stakeholders aid firm to sort corrective course of action in order to gain
competitive advantage in a efficient manner.
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REFERNCES
Books and journals
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