Marketing Management: Company Overview, Marketing Audit, Competitor Analysis, STP Analysis, and Marketing Mix for Greens Supermarket

This project highlights the discussion about varied marketing concepts. This project comprises of an overview of company which helps to understand the several factors of business environment. It also consists of competitor analysis which helps company in assessing competition in specific industry. This also includes STP analysis and marketing mix for analysing as well as framing marketing strategies to be used in case of launch of new product.

Marketing Management

Executive Summary
This project highlights the discussion about varied marketing concepts. This project comprises of
an overview of company which helps to understand the several factors of business environment.
It also consists of competitor analysis which helps company in assessing competition in specific
industry. This also includes STP analysis and marketing mix for analysing as well as framing
marketing strategies to be used in case of launch of new product.

Contents
INTRODUCTION...........................................................................................................................1

MAIN BODY...................................................................................................................................1
Company overview......................................................................................................................1
Marketing audit of internal and external environment ...............................................................2
Competitor's analysis...................................................................................................................6
Identification of gap in market.....................................................................................................8
STP Analysis considering new product ......................................................................................9
Marketing mix of Greens Supermarket regarding new product ...............................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing management is considered with planning and conceptualising varied market
aspects related to price, strategies and distribution channel of products (Brown, Crosno and
Tong, 2019). Major role of marketing management is to deliver useful products to consumers in
order to make them satisfied. This helps in conversion of potential buyers into actual ones.
Efficient marketing management aids an organisation in tapping diverse needs and wants of
consumers. For understanding varied marketing concepts, Green supermarkets is taken into
consideration. Greens Supermarkets deals in groceries and home products in retail industry. It is
founded 30 years ago by a small grocer and has its headquarter in Malta. It is a family business
venture which is operated by family members.
This project report highlights the varied marketing strategies used by companies to cater
the diverse needs of consumers. It also includes preparation of a marketing plan considering
assessment of internal as well as external forces and competitor analysis. This project also
comprises of marketing mix and STP analysis in order to cater the needs of a specific segment.
This project also highlights the various marketing strategies that needed to be develop for new
product launch.
MAIN BODY
Company overview
Greens Supermarket is an enterprise which is run by a family from many years. It was
started by a small grocer over 30 years back. It is acquired its place in retail sector of Malta. Its
estimated annual revenue is $63 million having 321 employees. Organisation ensures personal
and constant contact with their clients in order to gain their loyalty towards them. They believe
in providing valuable products to their customers at reasonable prices. Company has mage
collaborations with local suppliers for their products. Company has its own official site which
aids buyers in choosing products according to their preferences. Company has also invested in
technological advancements by nurturing their processes efficiently. Managers of Greens
Supermarkets provides valuable services and products to its customers by offering them various
discounts on their shopping. Business environment is concerned with summing up of external
forces in environment which influences internal business activities of an enterprise. It involves
suppliers, competitors, government etc. that impacts business operations adversely. Greens
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Supermarket adheres business environment closely in order to gain sustainable competitive
advantage. Managers of Greens Supermarket provides competitive and best prices to its
consumers. Company provides quality products to their consumers which assists it in winning
several accolades. They tend to create extended relations with their importers from distinct
countries. They aim to provide fresh food, vegetables, fruits to their customers to ensure their
engagement in company's products. Company provides automated self check-out system to their
customers which allows them to do money transactions by themselves before leaving the store.
Marketing audit of internal and external environment
Marketing audit is a practice which is used by companies to examining and exploring
promotional environment for varied products and services (Chin and Mansori, 2018). This
marketing audit assists in assessing differential resources an organisation has. It also aids in
investing which marketing strategies are working efficiently in market. Its main purpose is to
measure the alignment of company's objectives with that of marketing tactics. It essentially
focuses on developing best metrics to measure effective marketing tools and techniques. In order
to gain in-depth knowledge of internal and external environment which impacts the formulation
of varied marketing tactics, VRIO and PESTLE analysis is performed in relevance with Greens
Supermarket.
VRIO analysis is an indigenous technique which helps companies in assessing their
different resources and how these provides competitive advantage to it in marketplace
(CHINSUK and CHAROENWIRIYAKUL, 2019). It id beneficial for organisations in scanning
their valuable, rare, inimitable and organised resources. This framework is used by managers of
Greens Supermarket in strategic planning and critical decision making. It also assists them in
scanning competitive advantage. Elements of VRIO analysis in accordance with Greens
Supermarket is as follows:
Unique
Capabilities
Valuable Rare Inimitable Organised Competitive
advantage
Product
design
Yes No Competitive
parity
Service
Quality
Yes Yes No Temporarily
competitive
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advantage
Distribution
channel
Yes Yes Yes No Unused
competitive
advantage
Digital
marketing
Yes Yes Yes Yes Sustained
competitive
advantage
Customer
service
Yes Yes Yes Yes Sustained
competitive
advantage
Valuable resources are those which is providing some kind of benefit to organisation.
These resources helps to gain only competitive parity to the establishment. In relevance to
Greens Supermarket, valuable resources are as follows: Product design is valuable resource of Greens Supermarket which helps in attracting
large number of customers towards their store. It helps in gaining customer loyalty and
improved market position. Service quality helps Greens Supermarket in increasing their revenues through retaining
existing customers for a long time. It also helps in avoiding cost of replacing defective
items.
 Distribution channel is a valuable resource of Greens Supermarket as it helps in
reducing their long term operational costs. Greens Supermarket has make efficient use of digital marketing through its website.
Company allows their consumers to be informed about number of products and services.
 Customer service provides a value to Green Supermarket's varied resources. Organisation
has efficient customer service provider team for solving various issues of its consumers
and provides after sales support effectively.
Rare resources are those which are not common to all organisations (Dayan and Ndubisi,
2020). Valuable and rare resources provides a temporarily competitive advantage to
establishments. Various rare resources in accordance with Greens Supermarket is as follows:
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 Service quality is a rare resource of Greens Supermarket. This type of quality in
providing service is uncommon to competitor's in same industry. Distribution channel is rare as managers of Greens Supermarket collaborates with
differential suppliers from diverse countries in order to provide a variety of goods and
services. Digital marketing through social networking channels are uncommon to varied
organisations in Malta. This resource is rare to Greens Supermarket as they took first
mover advantage in launching their website in retail sector.
 Customer services is rare to Greens Supermarket as it helps in generating consumer
loyalty towards specific brand
Inimitable resources are those which are hard to copy as their imitating cost is very high
for competitors (Deepak and Jeyakumar, 2019). Establishments having inimitable and
insubstitutable are in a position of having competitive advantage. These resources in relevance to
Greens Supermarket is as follows: Practices adopt by managers of Greens Supermarket in maintaining their distribution
channel which helped it to make inimitable from competitors.
 Digital marketing practices adopted by managers of Greens Supermarket is hard to
imitate by the competitors. This helps them to make a greater reach in a segmented
market.
 Efficient customer service support helps managers of Greens Supermarket in compelling
consumers to make repeated purchases.
A resource is said to be organised if it aligns with organisational processes, culture and
dynamics (Dogu and Albayrak, 2018). Organised resources helps to gain sustainable competitive
advantage to organisation. Organised resources of Greens Supermarket is as follows: Digital marketing is an organised capability for Greens Supermarket as it provides
tractable and measurable results for improving its operations.
 Customer support team is working efficiently aligning with solving diverse consumer
related issues. It aids Greens Supermarket in building public image of company.
PESTLE analysis is a technique that is used by companies in identifying and evaluating
various external forces of environment that essentially influences the internal workings of
organisation (Freyer, 2018). It assists organisation in detecting various threats in order to
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mitigate them. It also aids in assessing opportunities and taking a first mover advantage to curb
that in timely manner. It essentially helps the managers of Greens Supermarket in analysing the
market trends and plan accordingly. Various factors of PESTLE analysis in relevance with
Greens Supermarket is as follows: Political factors involves various government regulations, tax policies and administration
system. Malta political landscape is stable in country which opens up the various
opportunities for the domestic companies. Political stability enables managers of Greens
Supermarket to operate their business activities efficiently. It also allows company in
making better decisions regarding investors. There are stable and low corporate taxation
on companies which impacts positively on in the business operations of Greens
Supermarket. Economic factors comprises of GDP trends, unemployment factors, rising inflation rates
and government fiscal policies (Gossen, Ziesemer and Schrader, 2019). Malta is facing
economic recession due to global lock down which compels organisations to fire their
employees. This increases unemployment rates in country. High rates of unemployment
directly relates with purchasing power of consumers. This situation adversely impacts the
business of Greens Supermarket as people tend to buy only necessary items. Social factors includes customer preferences, tastes and lifestyle regarding a particular
brand. In Malta, consumers are used to social networking sites and are aware about
various brands in market. Consumers are rational enough to analyse and measure benefits
as well as prices through virtual means. These creates tough competition for Greens
Supermarket as customers can easily find substitutes of their products. Technological factors encompasses various advancements made by organisations in
adopting various techniques (Gotteland, Shock and Sarin, 2020). In Malta, large number
of companies started using virtual channels and cloud computing for attracting massive
number of customers. Managers of Greens Supermarket take help of digital channels and
its official website in order to reach more customers. Company also has adopted new
technological machinery for cold storage and freezing. Legal Factors is considered with providing equal opportunities to employees and
regulations related to product safety. In Malta, government has implemented various laws
such as industry specific legislation, consumer protection laws etc. Greens Supermarket
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follows employment laws and industry specific regulation which helps company to create
a positive image.
 Environmental factors encompasses various legislations implemented by government to
protect the surroundings from industrial waste as well as pollution (Huang, 2020). Malta
government has strictly implemented various legislations for protecting the environment.
Greens Supermarket has initiated many projects and also contribute significantly in
adhering corporate social responsibilities.
Competitor's analysis
Competitor's analysis is a framework that is used by organisations to compare various
features of products, market size, marketing strategies from that of competitors (Hüttner, 2018).
It is performed to analyse competitor behaviour in particular market as well as strategies
executed by them in order to being ahead of them. This competition analysis aids organisations
in assessing weaknesses and strengths of competitors for creating a efficient marketing strategy.
It also helps in assessing unique sales point and touch points where consumer can buy product or
service. Competitor's analysis is beneficial for Greens Supermarket as it helps in being motivated
and provide quality services to customers. In order to understand competitor analysis in a better
way, Porter's generic model is taken into consideration.
Porter generic model is a strategic tool that describes how a firm adopt a comparative
advantages across its chosen market scope (Iacobucci, 2021). It also helps organization in
identifying a potential market in which they can gain a competitive superiority. It essentially
helps in leveraging an organisation's business over their competitors. It assists managers of
Greens Supermarket in concentrating their core elements which helps them in framing
competitive strategies. All the strategic of Porter's generic model in relevance with Greens
supermarket are discussed below:
Cost leadership – It states that organisation provides a large number of products in
targeted market with lower possible cost (Iyer, 2019). This tool is used by companies to gain
the competitive advantage by offering low cost in the industry. This cost approach is carried out
when the business produce a product more efficiently. Greens supermarket is leading retail
market in Malta if they uses the low cost offers for the customers by providing them discount.
Company tries to differentiate its product from other stores in industry by importing the good
range of product and sell them in low cost to its customers. This strategy can be adopted in two
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situations by establishment whether they provide low cost products or cater a large segment of
consumers.
Differentiation – This strategy is concerned with offering differentiated products to
consumers through launching new product or modifying the existing one (Jaworski, 2018).
Company generally follow this approach to target larger scale. Greens supermarket can
introduce online shopping application for their customers which helps them to browse products
easily. They can introduce comparatively low price products or special offers on online
shopping. Company can also send personalised e-mails to existing customers about informing
about launch of new products or services. This strategy can be adopted by Greens Supermarket if
their products have unique features. This requires efficient research and development department
to research about market trends and provide unique as well as rare products from their
competitors.
Cost focus – It states that organisation should target a small segment of consumers and
provides products with low as well as reasonable prices (Mahadevan, 2019). Managers of Greens
Supermarket can target small consumer segments of Malta population and offers low prices
products. Company has not expanded its operations internationally. It can only focuses on small
population of Malta.
Differentiation focus – Under this, organisation provides differentiated products to only
a small segment of consumers. This focuses on the different needs of customers in certain
segment. Greens supermarket can provide organic foods whereas no other supermarket in Malta
provides the same products. This leads to increase in sales revenue of the company.
From the above, it has been concluded that managers of Greens Supermarket can bring
differentiation in their products and chooses to cater uncatered segment of consumers. Managers
can plan to launch new products to attract diverse untapped segment of consumers.
Major competitors of Greens Supermarket are Retail International and Nectar. Comparison of
varied strengths and weaknesses of these organisation are as follows:
Basis of difference Greens Supermarket Retail International Nectar
Customer service Greens Supermarket
provides excellent
customer service
support to their
Retail International
has recruited
professional for
providing customer
Nectar has customer
support service
providers but they are
incompetent in solving
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customers. This can be
considered as a
strength for company.
service support. This
exercise incurs huge
cost for them and
termed as a weakness.
their product related
issues.
Marketing strategies Marketing strategies of
Greens Supermarket
includes a combination
of both traditional and
modern methods.
Adoption of these
strategies poses as a
strength for company.
Company uses
traditional methods of
leaflets and
advertisements to
inform customers to
buy the products. This
is a sort of weakness
for company.
Company uses digital
channels to promote
their products in order
to influence consumers
to make a purchase
even from a remote
corner. This is a
strength for company.
Pricing strategy Managers of Greens
Supermarket has
adopted competitive
pricing strategy and
provides products at
reasonable prices to
customers.
Mangers of Retail
International adopted
keystone pricing
which states that
organisation build a
mark up of 50% to
cover up their
operational cost.
Mangers of Nectar
believes in providing
quality products and
reliable services to
their consumers at
affordable price.
Identification of gap in market
A gap in market is considered as deviation in demand and supply of a specific product or
service. In other words, it entails an opportunity for organisation to make and sell a product that
is not tapped by anyone yet. This practice provides an establishment a competitive edge in
marketplace. In order to gain upper hand over competitors, it is necessary to find that gap in
market and plan accordingly. There are varied ways in which an organisation can measure and
bridge that gap efficiently. Managers of Greens Supermarket can perform a gap analysis in order
to examine the deviations in market. They can do it through analysing the dynamic market trends
and variations in consumers demand, preferences towards a specific product. Managers can also
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ask for constructive feedback from their existing consumers. Managers of Greens Supermarket
has performed gap analysis and describe a uncatered market to target. It has chooses age group
of ten to eighteen years. They are those segment which do not prefer to shop in supermarkets. It
benefits managers of Greens Supermarket in increasing their efficiency as they have to target a
new segment of consumers. It also assists in improving innovative practices of employees as
they have to think of launching a new product in market to a certain segment. It also aids in
improvising varied operational processes. This also helps in reducing wasteful activities in
targeting whole population.
STP Analysis considering new product
STP analysis is a strategic model which helps in developing various segments, choosing
a specifies target and market products or services for informing and influencing potential
segment (Mitchell, 2020)(Şengün, 2018). An efficiently performed STP analysis assists company
in gaining insights into its targeted segments. Mangers of Greens Supermarket has performed
STP analysis in order to launch a new product for the untapped segment that has been assessed
through gap analysis. Managers of Greens Supermarket is planning to launch products of a
chocolate brand namely, Frownie Brownie white chocolate balls. It is white chocolate product
manufactured by Malta Chocolate Company. Top management of Greens Supermarket has make
a deal with the Malta chocolate company to launch their newly manufactured chocolate at their
physical and online stores. Elements of STP analysis in relevance to Greens Supermarket is as
follows: Segmentation- At this stage, organisation chooses varied segments on the basis of
demographic, geographic and psychographic levels. Managers of Greens Supermarket
chooses age and geographical area for launching their new product. They have chosen
children of age ten to eighteen of Malta population. Targeting- Under this phase, organisation chooses to target selected segments through
varied marketing strategies. Establishments chose targets segments which is more
profitable for them. Managers of Greens Supermarket chooses targeted segment on the
basis of size and untapped demand of consumers. Targeted segments should benefits
establishments in their future growth potential. Managers at Greens Supermarket can
chose various targets as there are limitless factors that an organisation has.
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 Positioning – At this phase, organisation tries to develop a thought of superiority of
products or services in their consumer's mind. This is the stage where establishments tries
to be at competitive edge. This can be done through functional, symbolic and experiential
strategies. Managers at Greens Supermarket can adopt functional positioning strategy by
solving the varied issues of their customers quickly and easily. This practice helps them
in attracting more potential customers through publicity from word of mouth. And it also
helps in attracting uncatered audience towards its stores.
Marketing mix of Greens Supermarket regarding new product
Marketing mix is the set of tools that is used by the organization to pursue their
marketing objectives in a target market (Simões, Filipe and Barbosa, 2019). It is concerned with
blending of the four different elements which are essential in developing marketing tactics to
promote goods or services. In other words, it refers to the mixture of assorted ideas which are
followed by market analyst to promote a particular product or brand in the market. It essentially
helps companies in formulating and executing varied marketing plans efficiently. Merging of
these elements helps businesses in providing value to customers. It also helps in framing a
efficient marketing plan. It aids mangers of Greens Supermarket in assessing their existing
marketing mix so that they can formulate strategies for launching a new product. All the element
of marketing mix in relation with Greens Supermarket is discussed below: Product – It refers to the service or product which is offered by the company to its
customers. Company provides information regarding benefits of products to buyer while
purchasing goods or services. Product should be designed by keeping consumer's needs
and desires in mind (Spais and Paul, 2021). Before framing any marketing plan, key
characteristics of products is to be assessed by companies. Greens Supermarket provides
a wide range of diversified products in order to cater a massive number of customers
under one roof. Top management of greens supermarket is planning to launch new
product in the market for children between the age of ten to eighteen under the name of
Frownie brownie white chocolate balls. Main focus of company is towards kids as they
prefer chocolates of differential taste. This new product is made up of white chocolate
that adds flavour to existing dark one. Price – It is the cost which is paid by the customer for a product or service they get. The
price of product is directly link to the availability of it in marketplace. Price is evaluated
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on the basis of total cost inured by organisation in products manufacturing or importing.
Pricing includes production, research and development, transportation cost. Different
companies adopts differential pricing strategies that suits their operations. Managers at
Greens Supermarket have implemented competitive pricing strategy as this aids in setting
prices which are low from their competitors. Managers at Greens supermarket decided to
keep a low price of their upcoming product range. As they want to attract consumers for
making a purchase. This product helps organisation in creating a differentiated image
apart from their competitors which helps company to generate more revenue. Place – It refers to the location where products are going to be sold or purchase, it either
be physical market or virtual store (Ziemba, Jankowski and Wątróbski, 2018). Premium
products are kept only in specified stores. In this digital era, all types of products are
available on online stores of companies. Basically it states how a company sell their
product at right time, right place and in best quality to its customers. There is a need of
determination of place through extensive market research before launching of product to
a certain segment. Perfect place is that which is easily accessible to consumers. Managers
of Greens Supermarket have chosen to display new product in their specified segment of
store and also on their official website.
 Promotion – Promotion involves all the activities related to marketing the products or
services. Such as branding, advertising, direct selling etc. It is desirable for any
establishment to plan its promotional strategies strategically. It should consider target
market, chosen media ans digital channels. Managers of Greens Supermarket has adopted
various strategies to market their products. Company engages in marketing through
digital channels as well as social networking sites. Population of Malta is small so
company chooses to promote its products through combination of traditional and modern
methods. Extensive promotion should be done before the launch of new product by the
managers of Greens Supermarket. Targeted segment of Greens Supermarket is kids so it
can promote its product through children magazine and television advertisements.
CONCLUSION
From the above stated report, it has been concluded that marketing management is
essentially concerned with developing numerous promotional strategies in order to convert
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potential buyers into permanent as well as loyal ones. Main issues which is faced by companies
in managing their marketing strategies are selecting their targeting customers, how to position
products to gain competitive advantage and which tactic help them to be ahead from competitors.
It is not an easy task for companies to launch a new product and target a whole new segment. It
is significant for companies to perform STP analysis to frame strategies that will help in product
launch. Organisations should analyse product life cycle to assess new launch. Company faces
many challenges in launching a new product such as determination of initial pricing, channels to
be used for marketing and selecting target audience. It is beneficial for companies to launch new
products in a certain segments to meet the dynamic needs of consumers. Companies should
assess its financial position before planning for new product or service launch. Managers need to
assess dynamic market trends before a product launch. New products provides a competitive
advantage to consumers.
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