(pdf) Marketing Management : Assignment
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Added on 2020-11-23
(pdf) Marketing Management : Assignment
Added on 2020-11-23
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MARKETINGMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Background Information.............................................................................................................1Marketing Audit..........................................................................................................................2Review of Marketing Mix of company.....................................................................................10New Marketing Mix actions......................................................................................................12CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONMarketing management refers to the use of marketing orientation, application ofmarketing methods, tools and techniques for marketing of the products or services of theorganization. Marketing management can be referred as the business discipline which focuses onpractically applying the techniques and tools of marketing. Marketing management refers to theeffective evaluation, control and implementation of various types of marketing programs toachieve aims and objectives of the firm. The Report will be based on Morrisons. The firmbelongs to Retail industry. The company was founded by William Morrisons in year 1899. Thekey peoples that are working in Morrisons are David Potts, Andrew Higginson etc. (Morgan,Feng, H. and Whitler, 2018). The organization is dealing in different types of products such asclothing, food and drinks, magazines etc. The Report will outline detail background of thecompany, marketing audit with the help of different types of models, marketing-mix of Morrisonand new marketing-mix etc.MAIN BODYBackground InformationWM Morrison Supermarket plc is one of the biggest supermarket store in UK and ittrades as Morrisons. Company deals and operates its business in retail industry and offers widerange of products and services to its customers (Fan, Lau and Zhao, 2015). Products offered byMorrison includes clothing, food, drinks or beverages, clothing, CDs, DVDs, magazines andmany more. This is the fourth largest supermarket chain business in the UK and the companywas founded in the year 1899 by its founder William Morrison. Morrisons covers more than10% market share and its headquarter is situated in Bradford, West Yorkshire, England.Company provides employment to approx 110000 employees and they serve around 11 millioncustomers every week. Morrison operates its business activities and operations from 498 storesand locations. The vision and mission statement are supported by the strategic objectives and brandvalue of the company. The vision statement of Morrison states it wants to become 'the foodspecialist for everyone'. Morrison's mission outlines and states about broad directions whichcompany will and should follow and it also briefly summarises values and reasoning which liesbehind it. 1
The official website of Morrison describes that company offers fresh and quality productsat a price that people likes and it also offers famous promotional offers such as Get freevouchers, Collect saver stamps for every customers having £30 purchase. The company developsits strategy in a way that it does not focus n offering value of its products but also the prices ofproducts are also great values across the different ranges (Kotler and et.al., 2018). The strategyof Morrison objectives of business is to make great food, offer outstanding services to itcustomers and also to become more effective and efficient so that company can compete withother in better way. The company gas been integrated vertically so that it can control quality andfreshness of products in better manner. Morrisons also gave their own manufacturing plans,facilities of packaging and also the distribution networks that helps in ensuring that it can getfood items to store in faster time so that it can be kept fresher. Now-a-days every industry is facing great competition and even the retail industry isfacing intense level of competition. Thus, Morrison aims at developing and implementingeffective business strategies so that it can ensure to sustain in competitive business environmentand gain sustainable profits and increase market share. Morrison develop its strategic businessstrategy in a way that helps in achieving overall goals and objectives of company (Baker, 2016).The strategy describes that it aims at delivering sustainable, long-term development and growth,build on traditional strength i.e. quality, fresh foods, value and services, and it is backed by theunique vertical integration capability, while reflects on needs of customers and changes whichare taking place in markets. Marketing AuditThe marketing audit refers to the broad, autonomous, efficient and periodic assessment ofthe organisation's marketing assets (Gürel and Tat, 2017). Morrison aims at implementingmarketing audit so that it can continuously get a reference point, reflecting evolution from theinternal and external business environment and also develop effective business strategy and alsothe marketing plan.SWOT analysisThis is considered as an important tool or technique for eventuating about the currentstrengths, weaknesses, opportunities and threats which Morrison's is facing in the marketenvironment.2
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