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Marketing Management of Morrison

   

Added on  2020-10-04

19 Pages5596 Words98 Views
MARKETINGMANAGEMENT
Marketing Management of Morrison_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY ..................................................................................................................................11. Background of industry, company and country. ....................................................................12. Marketing audit including both external and internal factors.................................................33. New Marketing mix to achieve gap in between company's present strategy and externalenvironment...............................................................................................................................10CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
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INTRODUCTIONMarketing Management is the process of developing strategies and planning for goodsand services. The process consists of advertising, promotions and sales to reach desired customersegment. It facilitates the functions and activities which are involved in distribution of productsand services. The main purpose of marketing management is to achieve organisational goals andobjectives. When companies plan to launch new products in new or existing market, marketingfunctions plays a vital role in successful expansion plan of business. Further, it also increases theproductivity of existing products (Shaw, 2016). In this present case scenario, Morrison Company is chosen for assessment which operates ina retail industry. It is fourth largest supermarket chain in United Kingdom. Addition to this,Morrison’s is planning to expand its business in Thailand which is 50th largest country by thearea and is ranked 21st for population across the world. This report will cover background ofcompany, industry and country. Moreover, internal and external analysis of company will bedone to analyse potential for market growth. MAIN BODY 1. Background of industry, company and countryRetail is one of the most emergent and dynamic industry. It is considered as fast pacedsector due to the rapid entry of new players. It is one of the most important industry as it isresponsible for distribution of consumer products. It is retail sector which consists of generalretailers which are managed and control by individuals/group, speciality departmental anddiscounted stores. It is a process of selling consumer goods or services to customers with thehelp of multiple channels of distribution to earn profit. It has contributed up to 12% in country'seconomy and has generated almost 8% of employment. Retail trends to changes every year withthe addition of new stores and innovative products into the market (Olson, 2018). The retail sector is vital for the economy of all the countries. There are so many areas inretail industry that enables opportunities for a person to choose between dynamic services that isfashion, entertainment, food, general merchandise, health and beauty, home, technology, sportsand leisure. There are many companies which are leading successfully in retail industry such asTesco, Marks and Spencer, Morrisons, Aldi, Asda, etc. However, Morrison is fourth largestchain of supermarkets in United Kingdom. It was founded by William Morrison in 1899. Itsrevenue is £16,317 million and about 132,000 people were employed with till 2017. This1
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company is famous for its products which are food and drink, books, clothing, Magazines, CD'sand DVD's. Morrison’s at present has 498 stores across Scotland, Wales and England. In this presentscenario, company is going to expand their market in Thailand which is 50th largest country bythe area and 21st rank in population. Bangkok is the capital of Thailand and it is one of the largestcity as well as special administrative area. This is a country which is most preferred tourist area.In 2008, there was drastic loss in retail sector because of global financial crisis and in 2011 thereoccur flood and a military coup in 2014 which distract the entire structure of retail industries. Butin 2017 it settled up track and it grew by 2.5% with strong growth in the second half of the year.This growth has continued in 2018. The retail sector of Thailand is expected to maintain itspotential growth and development (Sargeant and MACQUILLIN, 2016). The people of Thailand spends enough percentage of income in food and non-alcoholicdrink, clothing, footwear, alcohol, health and many other retail items. It is expected thatThailand's retail sector will maintain growth potential as well as future retail development. Themiddle class, youngsters and urbanization is increasing retail sales as well as are increasing thegrowth. Thus, for Morrisons, Thailand is the best country to expand its market. Company has followed unique selling proposition to attract different types of consumers.The services and quality of products of Morrisons is incredible (Morrison's Shareholders, 2018).Because of its unique feature, organisation is leading in UK and has 4th rank. The strongperformance of company makes it different from others. Addition to this, the promotionaltechniques of Morrison is also very amazing, they give less focus on calling brand ambassadorsfor advertising its products and services. They promote their goods by giving discount offers, giftvouchers, buy one get one free and trip tickets, etc. By offering these, the promotion of goodsand services are very impressive as well as effective (Market Positioning of Morrisons, 2018). Apart from this, the selling and distribution system of Morrisons is also incredible. Itsfeatures of selling will surely lead and achieve the great position in Thailand as well. They haveonline presence which makes easy for consumers to buy goods and services. There distributionchannels of company are also very fast and convenient. Thus, these all are the unique features ofcompany that will surely win the market of Bangkok (Chernev, 2018). 2
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