Marketing Management in Iceland Supermarket

Added on -2020-02-05

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Business Strategy 1
TABLE OF CONTENTSINTRODUCTION ...............................................................................................................................3TASK 1: INTERNAL AND EXTERNAL ENVIRONMENT OF ICELAND SUPERMARKET......3TASK 2 : SWOT ANALYSIS ON ICELAND SUPERMARKET.......................................................6TASK 3: IDENTIFIED MAREKTING OPPORTUNITY ..................................................................8TASK 4 : ICELAND SUPERMARKET REVENUE.........................................................................11CONCLUSION..................................................................................................................................12REFERENCES...................................................................................................................................132
INTRODUCTION Marketing management comprises of functions and activities of distributing commodities. Itis a combination of planning, analysing, executing and controlling elements which are designed toachieve the organization objectives. It is a business process to manage different marketing activitiesin both non-profit and profit organizations at various management levels (Kotler and Keller, 2012).For taking the appropriate marketing management decisions, it is important to have deep knowledgeabout marketing functions and its applications. It delivers benefits to both service users and serviceproviders. For a company, some share of success depends on effective marketing managementbecause it is a source of income and revenue for the business. On the other hand, marketingmanagement includes different functions such as selling, purchasing, transportation, warehouse etc.These all activities are performed by large number of group or individual people. So, it createsopportunities of employment in community and raise standard of living. The present study focuseson marketing management and to understand its role within the organization, Iceland Supermarketis taking into the consideration. The objectives which will be cover in research are marketenvironment audit, marketing opportunities, forecasting of revenue, cash flow and profitcontribution and many other things. TASK 1: INTERNAL AND EXTERNAL ENVIRONMENT OF ICELANDSUPERMARKETFor creating a good and successful business strategy, company needs to analyse external andinternal environment. This assessment process shows about different factors that affect the businessactivities and other operations either in a positive or negative manner. Internal environment of anycompany includes the factors which are useful for the organizational growth. In order to know aboutthe internal business environment, managers uses SWOT analysis technique (Parasuraman, 2006).This technique explains the major strengths, weaknesses, threats and opportunities in the context oforganization. It delivers information to the organization which helps management to match itsexisting resources and capabilities with the competitive environment in which they are currentlyoperating its business. On the other hand, PESTLE analysis is used to analyse the externalenvironment where company is conducting its business operation or planning to launch a newservice or commodity (Craig and Campbell, 2012). It is known as a backbone of enterprise becauseit helps in the formulation of different business strategies to achieve aim and objectives. SWOT analysis on Iceland supermarketIceland is a British firm which sells out frozen fruit and vegetables in all over the world.This company also provides dry raw materials for frozen meals. This firm has approximately 1.8%3
shares of UK food market.Strengths- Iceland supermarket is different from others because it is providing good andpure quality meat with the availability of hygienic packing. The main strength of thecompany is good brand image in all over the world because its products are 100% pure andfresh (Morgan, 2014). With the impact of good goodwill in the market, company can easilylaunch the new product. Sales and distribution network of supermarket is strong socostumers easily get products through home delivery. By applying all the strategies,supermarket increases its level of profit (Pride and et. al., 2012).Weaknesses- The main weakness of Island supermarket is that its product cost is soexpensive. Therefore, all kinds of people are not able to purchase it. This company is locatedin Britain and as per the research, consumers are afraid to try new products. Financial statusof the organization is week; so investors are less interested to purchase the shares ofcompany. Further, some factors like tax format, high shipping cost, taste of the frozenproducts also create negative impact on the growth of organization (Williams, 2012).Opportunities- Recently, Company has opened approximately 1250 retail stores in all overthe world, so it creates high purchasing power for the business. In the present time, demandof the frozen foods in all over the world is increasing. The reason for it is that all productsare not easily available in all the season . So, trend of frozen food within the people is atrising stage (Whitwell, 2001). Along with this, in developing nations, retail market is atemerging stage. People want all the goods and services at a single roof. So, it is a bigopportunity for Iceland Supermarket to expand its business at international level, especially4Illustration 1: SWOT AnalysisSource: (What is SWOT Analysis and How to do it?, 2015)

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