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Marketing Principles and Practices Doc

   

Added on  2020-10-22

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Marketing Principles and Practices

ContentsINTRODUCTION.....................................................................................................................................31. Analyses the current situation of Reckitt Benckiser by using SWOT and PESTLE analysis tools......32. Marketing Objectives for Reckitt Benckiser that must include the SMART analysis and finding the problem...................................................................................................................................................73. Discuss the target market for Reckitt Benckiser and segmentation......................................................94. Analyze the positioning and strategy of Reckitt and find its main competitors in global market.......10Competitor of Reckitt & Benckiser-......................................................................................................10CONCLUSION........................................................................................................................................13REFERENCES........................................................................................................................................14

INTRODUCTIONMarketing is a process that can use different type of tool to promote the product andservices in marketplace. It is mainly used for the business process to manage the marketingoperations such as identifying demand of consumers, Building the profitability relations, marketstrategy or planning etc. Marketing is an appropriate concept in terms of business process thathelp for increase the productivity and profitability in marketplace. Reckitt Benckiser is the fastestgrowing organization in UK which provide different type of health or hygiene related product tothe consumer. This report will discuss about the current situation of Reckitt Benckiser firm byusing the business tools such as Pestle and SWOT analysis. This assignment will describe themarketing objective of Reckitt Benckiser that must be included the smart analysis of businessprocess. It will help for finding the problem and issues generated at the enterprise operations.Furthermore, this report will discuss about the market targeting and Segmentation of ReckittBenckiser. At last, this assignment will evaluate a marketing action plan with the help of 4P’s ofmarketing mix. 1. Analyses the current situation of Reckitt Benckiser by using SWOT and PESTLE analysistoolsReckitt Benckiser is a leading organization ink which based on the health or hygienerelated home product provide to the consumer. It is multinational company which established in1999 by the merger of UK based Reckitt & Colman Plc. It includes different brand such asDettol, Strepsils, Sore threat medicine and other veet brand (Hackley, Hackleyand Bassiouni,).The company which has total strength of 40,000 people in it boasts of various top brandingproducts. This organization is created products that better for human life style which makesworld cleaner and healthier places. There are various type of business operations performed tooperate different popular brands. PESTLE Analysis-Pestle analysis is a type of strategic tool that help for analyzing the macro environment of ReckittBenckiser firm. This factor is directly impact on the organization in terms of personal and otherhealthy products.

Political Factor- this factor play important role in the business operations that impact on theReckitt Benckiser firm for long term profit. The organization is operating various type ofpersonal care and other house hold products in different countries but there are certain risksgenerated due to political factor. It will increase the level of corruption especially, in terms ifrules and regulation in health, hygiene sector. Nowadays, the rate of taxation should be increasedbecause incentive. Many people has earned a lot of extra money other than the annually salary. Itwould directly impact on the rate of taxation. Economic Factor- this factor includes saving rate, economic cycle, inflation rate and interestrate etc. These are the factors that impact on the economy of country. This macro factor such ascompetition norms that impact on the competitive advantage of organization (Ellis, 2018).Reckitt Benckiser can use the nation’s economy factor such as company’s economic indicatorslike customer spending etc. Social Factor- Social culture is the important factor that impact on the entire environment oforganization. It depend on the beliefs and attitude of population that plays great role in themarket place where how Reckitt Benckiser understand the need and requirement off customers.They can design the products on the basis of demand of clients. Technological Factor- Technology is the fast disrupting in the different industries across theworld. Reckitt Benckiser is used the new technique and method for design an appropriateproduct. On the other hand, they also used the automation technique to manufacture theelectronic products. Technology is a factor that speed up the slow process of business andincrease the profitability in marketplace. Therefore, technology impact on the cost structure inpersonal and hygiene products.

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