Marketing Management Strategies of Morrisons plc

MARKETING
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION................................................................................................................................3
MAIN BODY.......................................................................................................................................3
CONCLUSION..................................................................................................................................12
REFERENCES.....................................................................................................................................1

INTRODUCTION
Marketing refers to the activities that a company/brand undertake to promote the buying and
selling of a product or service. It includes advertising, selling, and delivering products to customers
or retailers. Affiliate marketing is done on behalf of the company, its personnel, and the
management team. Marketing management on the other hand refers to the organizational directive
measures and techniques which are carried out for applying various orientation tools using
marketing supplies. This helps target the selected audience with the potential purchasing power and
promotes the company's brand (Deepak and Jeyakumar, 2019).
The following report will analyze the marketing management strategies and its associated
factors in the context of UK's fourth largest leading supermarket retail company 'Morrisons plc'. It
has a strength of more than 130,000 employee workforce in over 500 retail stores and a market
share of around 9.8% in the UK grocery enterprise. Morrisons offers a wide product range which
consists of farm produced organic foods & beverages, clothing, music, etc. The report will examine
the company's branding strategy illustrating its market positioning system. It will further determine
the 7P's of marketing mix of Morrisons. The report will also recommend and explore several
favourable marketing strategies the company can benefit from.
MAIN BODY
The STP model – SEGMENTATION, TARGETING & POSITIONING
STP Marketing: The STP marketing analysis stands for Segmentation, Targeting, and
Positioning processes. These three steps benefit a firm/company in breaking down broad markets
and in targeting them. This analysis model helps segment the appropriate market for product/service
placement and target the selected audience for the proper positioning of the business organization in
the marketplace. The STP analysis model is commonly used by many busines organizations in their
market management approaches. It helps win diversified customers and efficiently streamlines the
target market sectors (Romppanen, 2021).

Marketing refers to any actions which a company takes to attract their targeted audience to
company's product or service. The purpose of marketing is to research and analyze the ideal
customer wants by sending surveys and follow up timely their need to fulfil customer wants. There
is a marketing manager in every organization who oversees all marketing campaigns for the
company, implements strategies for the promotion of business, product or service. The STP model
is one such market management tool that can be applied to the retail organization of Morrisons too
for identifying its market segments and target audience in order to strengthen its branding strategy.
MARKET SEGMENTATION STRATEGY
Segmentation is the first stage in this target marketing strategy development. It is informed
by customer research data and market trends analysis. Identification of customers and their needs
and choosing the market segment for investment is included in this stage. Morrisons ranks high on
the London Stock Exchange market and has a vast distribution network. The company has a good
network of both traditional and digital marketing platforms. Besides its strengths, it has a very low
customer satisfaction level.
For a leading supermarket position, Morrisons has a poor global reach as its geographical
target zones are mainly in its homeland UK. This lack of public attention is becoming expensive for
the UK market in a recession prone economy. In addition to it, due to some conflicts regarding the
rights of British farmers, the UK based retail giant has become unpopular among its natives with a 9
out of 10 ranking in the Top 10 list thus negatively affecting brand image. This calls for a strategic
application of the segmentation approach towards the identification of the company's market
segments (Morgan and et.al., 2019).
For instance, the segmentation criteria for Morrisons can be categorized into geographic
distribution beyond UK zones, purchasing capacity of buyers, convenient location for sales and
promotion, and qualitative service of fresh products. This will significantly increase the organic
growth of this retail business along with the available and surplus options of new market
acquisitions and diversifications. Currently the company has promptly recognized the need to
segment its various markets based on the changing trends in demographics. It uses the approach of
segmentation effectively by fragmenting its store outlets in a consumer centric sustainable manner
(Dolnicar and et.al., 2018).
Furthermore, Morrisons plc can segment its products based on the latest market researches
to help identify its required market size which can help formulate the where and how of its
marketing efforts. Market segmentation needs to be done on a well outlined demographic depending
on the age-sex, socio-economic, and branding factors. This means that a wide range of resources
such as campaigning, outward advertising, infomercials, and capital inputs are required in