Strategies Adopted by Planet Preserve to Enhance Profitability

An organization in the UK is operating efficiently to increase market share and goodwill. The report showcases the company's marketing strategies that help develop an in-depth analysis of business prospects. It can be concluded that the well-developed strategies will enhance profitability both domestically and globally.

MARKETTING
PRINCIPLES

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
(a) Benefits and cost of market orientation..................................................................................3
(b).................................................................................................................................................5
Various elements of marketing process.......................................................................................5
Segmentation criteria for different products................................................................................6
Targeting strategy for products....................................................................................................7
(c) Sustaining organization competitive advantage.....................................................................7
d) Providing convenience to customers by arranging effective distribution...............................8
e) Setting prices to reflect the objectives of Planet Preserve.......................................................9
f) Macro and Micro environmental factors influencing the marketing decisions.......................9
(g) Additional elements of marketing mix for Planet Preserve.................................................11
TASK 2..........................................................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing principles consists of several techniques which companies uses with the
purpose of successfully launching new and existing products in the market place. Marketing also
provides effectual ways that help the organization in providing useful information and
knowledge regarding newly launched products and services. Further, marketing principles is also
defined as a process of communicating value of product to consumers along with proper quality
and brand which will lead increasing sale of that product and with respect to it, business
organization will get a competitive advantage over their potential competitors (Baron, Harris and
Hilton, 2009).
This present report is based on the case study of Planet preserve which is generally a
fruit and preservative manufacturing business that purchases surplus produces from traders
available in local market. Further, this report tells that the owner of firm Leslie Zhang provides
employment opportunities to people in poor district and also plans for business expansion in an
ethical way. In this context, this report will focus on evaluating the benefits and cost of the
marketing orientation along with the different elements of the marketing process (Golding and
Peattie, 2005). Moreover, this report will also emphasis on choosing up a segmentation criteria
for new products or service and also the targeting strategy for the same.
TASK 1
(a) Benefits and cost of market orientation
Market orientation:-
Marketing orientation is a business approach that focus on identifying and meeting
customers needs and desires. These is the most common orientation that used in today's
marketing. These also involve monitoring actions of competitors which effect on customer
preference. Market orientation have some benefits and costs also, that are as follows.
Benefits of market orientation:-
1. Building customer value:-
These approach help in increase loyalty of the organization. Brand loyalty is a big
advantage for the company because it develop a positive environment among its customer. Planet
preserve having good brand loyalty and it ultimately help business to grow in the competitive
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market. Brand loyalty also help to attract more customers through more attractive offers and
temporarily lower prices (Hill, 2008).
2. Repeat purchase:-
Market orientation is helpful for these organization in getting more and more satisfied
customer. There are more chance that a satisfy customer from company's product or service will
repeat again in future and these help in attract more new customers.
3. Profit maximization:-
Market orientation helps business in maximize its profit through meeting customers
needs and desires. These help Planet preserve to understand market demand so that accordingly
make plan for fulfill it. As much as business serves the market that much it can make profit.
4. Help in attaining business objective:-
Market orientation will help Planet preserve to attain its target objective through serving
maximum number of satisfied customer and through establish itself as a brand among its
competitors (Jobber and Ellis-Chadwick, 2012).
5.Adaptability:-
Another benefit of market orientation is that organization has to take immediate feedback
from customers so this helps company to improve its product or service quality as desire by
customers. Feedback of customers helps business to understand either market need changes in
existing product or want new product so that they can take decision on it.
Costs of market orientation:-
1.Expensive or costly research:-
This is necessary to measure customers need and develop product to match those needs.
Conducting this research may take time and require to hire a marketing firm to evaluate the
project. This can be expensive or may be available market place for determine the needs of
customers have not the size which research required. Research of this kind need technological
infrastructure for collect, analyze and use customer data which may cost high to the company
(Palmer and Quinn, 2007).
2.Investment of Time and efforts:-
Every research need time and efforts to finding out exact result or output. Research for
this particular market orientation may require heavy investment of time and efforts in compare to
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returns from this research. There is a threat of wastage of time for an unsuccessful market
orientation.
3.Quick changes in customers need:-
When an organization operation in particular market or product segment and market
research show that customers wants are different from product feature and if this wants change
quickly then business can't make rapidly changes in operation process because it require heavy
budget, and if it is not making changes in operation process according to customers need then
business stand out from competition (Deshpande and Rundle-Thiele, 2011).
(b)
Various elements of marketing process
Marketing is defined as a process of creating, communicating, delivering and exchanging
which have value for individuals, clients and partners from a large view point. Furthermore,
marketing generally revolves on four different elements and it includes identification of the
product, determining the price, choosing the best distribution channel and at last applying
suitable promotional message for the selected products and service of the organization. Further,
there are different elements of the marketing process which Plant Preserve take care off and
these has been studied below: Marketing mix- Companies crucial element for marketing strategy is the marketing mix
as this factor focuses on influencing demand for planet preserve goods and services.
Further, Leslie Zhang need to set the price of their jams and pickles as low as possible in
order to attract more of the customers and the same will help organization in developing
the brand image (Allyson Dooley, Jones and Iverson, 2012). Setting objectives- As stated, organization have to set specific objectives to improve
their productivity and efficiency which will further help in improving the market share in
UK market. These objectives consider the profit maximization in short term and long
term perspective. Market segmentation- Market segment is very important in the marketing process as
cited company have to target each and every customer who belongs to diverse group.
Therefore, it is considered as an activity which helps the firm to divide their segment
into small targets and centralizing on fulfilling their needs and objectives (Henley, Raffin
and Caemmerer, 2011).
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 Market environment- Mentioned Company have to conduct different analysis including
SWOT, PESTLE, PORTER'S five forces, Value chain analysis, etc. in order to analyze
the market and also to judge their effectiveness.
Segmentation criteria for different products
Segmentation gives lots of benefits to customers as well as organization itself. Further,
this segmentation criteria help organization to treat their customers in a precise and equal
manner. Planet preserve in order to expand their market need to segment their products
according to the customer's taste and preference (Sridharan and Viswanathan, 2008). Further,
Leslie Zhang has also won a contract to supply their preserves into a departmental store of a
major city in UK. Moreover, owner of the mentioned firm should focus on experimenting new
pickles, jams and mix fruit juices in order to increase the sale of their products. This will further
help in increasing more of the loyal customers which will enhance the brand image of the cited
firm.
Further, cited company can bisect their products on the basis of following segmentation: Geographic- On the basis of region, population, size of metropolitan area and climatic
condition. Demographic- Demographic segmentation for planet preserve comprises age, gender,
income level, occupation, social class, etc. Psychographic- This segment groups the customers as per their behavior, interest,
attitude as well as opinion (Villanueva, Yoo and Hanssens, 2008).
 Behavioralistic- Behaviouralstic behavior is based on consumer attitude towards the
product as it generally consists of user status, occasions, readiness of individuals to pay
for the product, etc.
Generally, planet preserve will focus on all the given segmentation for increasing the sale
of their pickles within the city but majorly Leslie Zhang will concentrate on the demographic as
well as psychographic segmentation. Further, in order to increase customer awareness towards
the company's product, planet preserve will focus on discounts and additional offers which will
increase the productivity and revenue. However, apart from this, cited firm can also focus on
caterer and hotelier market. In this context, it has been assessed that manager of hotel always
prefers to use small sachet of jams and pickles while serving to guests at the time of breakfast,
lunch and dinner (Swaminathan and Moorman, 2009).
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Targeting strategy for products
After segmenting the market properly, now it is the time to make a target strategy for
planet preserve's products. Further, by analyzing the target, cited firm will be able to increase
their market share, productivity as well as revenue and will also give tough competition to their
major competitors in the same field. Further, there are 3 types of targeting strategies and the
same has bee explained below: Differentiated strategy: Differentiated strategy is the one where organization focuses on
two or more market segments by processing proper marketing mix for each and every
segmentation (Segmentation, Targeting, and Positioning. 2010). Undifferentiated strategy: Under this strategy, organization sends a single promotional
message to all the potential customers without discriminating them as per different
segmentation. However, this strategy is assistive only when a company’s product have
fewer competitors in the market (Rimal and Creel, 2008).
 Concentrated strategy: This strategy for organization focuses on designing promotional
message which will communicate all the advantage of a product for a particular segment.
Planet preserve can implement undifferentiated targeting strategies for attracting a large
base of customers as price of the product will almost be the same and it will differ according to
the variety of pickles and jams. Further, cited firm can prepare a single promotional message
which will attract all type of consumers towards that organization different products namely
pickles, jams, mixed fruit juice, etc. Moreover, this process will lead towards enhancing the sale,
productivity and profitability (Wang, 2007).
(c) Sustaining organization competitive advantage
Competitive advantage will take planet preserve into a commanding position and this will
certainly help the business organization to increase more of their goodwill and brand image.
Further, Leslie Zhang identifies the different ways in order to develop their product for getting a
competitive advantage. However, I order to meet this the best method which planet preserve can
use is executing the production of preservative products in form of different flavors and tastes.
Moreover, competitive advantage sustained by the Planet Preserve by producing different items
such as Jams in variety of different flavors like strawberry, orange, apple, pineapple and mixed
fruit etc. With the help of this, cited firm will be able to provide large variety of pickles which
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will give numerous opinion to buyer to choose anyone from them (Brassington and Pettitt, 2005).
Further, with the help of this Leslie Zhang will be able to get a competitive advantage.
However, it is also assessed that business is required to involve different healthy elements
in the preparation of the preservative product for gaining and sustaining competitive advantage
in the market. Further, by using less sugar during the preparation of pickles and also by adding
different ingredients in the preparation of jam can lead Planet Preserve to achieve the
competitive advantage. Also, by using low fat oils like sunflower, olive etc. will generally help
organization in process of producing pickles which will provide healthy benefits to the product.
Organization will also focus on producing healthy juice with the help the mixture of healthy
fruits elements. Individuals will like the taste of the mix fruit juice and it will help the venture to
increase more of the sale for the same (Armstrong and et.al., 2014). However, as a result of it
competitive advantage can be sustained by the firm in suitable manner.
d) Providing convenience to customers by arranging effective distribution
Plane preserve has to provide their valuable services where mass of populations exists as
this will be convenient for customers as well as for the cited firm to satisfy the needs and wants
of individuals efficiently and effectively. Further, the main role of distribution channel is to keep
the distribution cost as low as possible. If price of pickles, jams and juices is low then individual
will consume it on daily basis and this will lead to increase in organization productivity as well
as their revenue. Further, with the successful response from customers, planet preserve can focus
on developing new juices along with smoothies which can increase their brand awareness in the
eyes of the customers (Grier and Bryant, 2005).
Further, it is also evaluated that the distribution arranged for food products of Planet
Preserve is as per the convenience of all types of customers. Organization for distribution will
focus on two different types of consumers categories and these are business clients and the other
are the normal individuals. In relation to this, the small retailers as well as the owner of big
departmental stores are part of the business consumer category. On the contrary side, all other
purchasers like families and other individuals are considered as normal buyers of firm.
Moreover, cited firm adopts the different techniques for the distribution in order to give
convenience to the buyer. For instance, convenience to the business consumers can be provided
by choosing an indirect form of distribution channel. This is the type of distribution that consists
of a number of mediators (Jones and et.al., 2008). Further, with the help of such middlemen, the
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products of cited firm such as Jams and pickles can be sent easily to the large business
consumers like hotels, catering business and departmental stores etc. However, direct distribution
channel plays a important role in today's generation. In case of online distribution, the product is
directly delivered to customer without including any sort of middleman.
e) Setting prices to reflect the objectives of Planet Preserve
Planet preserve has to set price for the product by considering the conditions which are
prevailing in the market. The main aim of cited firm is to improve the sales and profit within the
UK market. Leslie Zhang is focusing on penetration pricing strategy in which planet preserve
sets a relatively low price for their products like jams, chutneys, pickles and relishes in order to
increase more of the sale and revenue of the cited products. Further, this pricing strategy will
help the mentioned company to set relative low price for their new product like mix fruit juice as
well as for the other smoothies which organization is planning to sell in coming time period.
Moreover, the price of different Planet Preserve product need to be set as per the
condition prevailing in the marketplace where organization running its operations. If there is
prevailing condition like recession or inflation then it will have a major impact on the purchasing
power of individuals living in UK (Deshpande and Rundle-Thiele, 2011). In case of inflation,
buyers prefer to purchase product of high quality and it is purchased by the individual at a cost
effective price. On the contrary side, recession will stop the proper functioning of the business
venture as cited company might face losses and planet preserve will not be able to accomplish
their goals and objectives as customers might not have anything to spend. Leslie Zhang at this
moment can focus on implementing the price penetration strategy as this is a strategy where
planet preserve will be selling their products at a relative low price and this will help the
organization to maintain their consumer base (Jackson and Sparks, 2005).
f) Macro and Micro environmental factors influencing the marketing decisions
The macro and micro environmental factors effectively influence the marketing decisions
of Planet Preserve and some major factors has been discussed below:
Micro environmental factors Employees- Employees of planet preserve are quite experienced and they are also multi
talented. These employees generally plays a crucial role in success of business
organization. Moreover, employees of cited firm focus on giving the best of the comfort
to their customers and they deliver best of the products to the customers.
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 Customers- As stated above, organization comprises large customer base and these
individuals are loyal too as organization is rendering products and services at an
affordable price to their customers. Moreover, planet preserve tries to come up with
varied products which help in attracting customer towards their different products like
pickles, chutneys, jams, juices, etc. (Jackson and Sparks, 2005).
 Suppliers- Cited organization has effective supply chain which gives them fresh quality
of raw materials in preparation of this delicious products. Planet preserve has surplus
produce from traders at local market and these traders helping Leslie Zhang to produce
the best products at an affordable price. If sale of the product increase then suppliers will
also get handsome reward from the business organization.
Macro environmental factors are the factors which affects the performance of business
organization from various outside sources and these factors are generally not in control of
business organization. Political- Political factors that affects the performance of cited firm is recession which is
reducing the paying capacity of large number of target customers. Further, the decision
being taken by the cited firm will be influenced if government of UK increases the rate of
taxes upon different products as this will act as a burden on consumers and they will
reduce the purchase of the product. Economic-Economic conditions generally impacting the growth and development of the
organization. Further, consumption of goods increases when economy is at booming
stage and it significantly declines when country facing recession periods. Further,
increase in tax rates, inflation might affect the operation of organization activities and this
will generally reduce the amount of profit and revenue for the cited firm (Jackson and
Sparks, 2005). Social- It can be assessed that the tastes and preferences of buyers will affect the
marketing decision of business. Further, desire and needs of customers are always
changing and organization have to update their product constantly for getting a
competitive advantage over their other competitors in the same industry.
 Technological- Technology is getting innovated day by day as bar coding, computer
related designs and online shopping are the latest improvements in the business sector.
Investment in technology is important for planet preserve to operate their services
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efficiently and effectively. Further, Leslie Zhang can use modern IT equipment which
lowers the cost and enhance the product quality (Bowie and Buttle, 2011).
(g) Additional elements of marketing mix for Planet Preserve
The extended marketing mix elements are framed as per the products offered by Planet
Preserve. These elements are: People: People: Employees are the one who increase the sale and productivity of cited
company as they produce the best quality products in order to attract large customers. In
addition to this, significant improvement in the sales of firm can also be made by taking
help from the skilled employees of planet preserve (Wright, 2014). Process: Managing quality and cost of production is one of the important practice of cited
organization. It is essential for Leslie Zhang that she selects appropriate delivering
services in order to reach that product at customers place. Further, ineffective selection
will lead towards decrease in profits and sales of planet preserve (Nwankwo and
Gbadamosi, 2010).
 Physical evidence: This shows the way in which planet preserve and its product are
perceived in the market place. Further, physical presence of product with all innovative
features explains the usability of different organizational products. From the given case it
is identified that Planet Preserve sales its goods through the retail store. Thus, for it
physical evidence such as furniture and table has its importance. This is because,
ineffective arrangement with regard to the given physical elements will lead to hamper
the sales and profits of firm (Varey, 2010).
TASK 2
Covered in PPT
CONCLUSION
From the above report it is clearly evident that the marketing principles helps the business
units in making effective decision for the growth and development of the companies. These
measures help business ventures in enhancing high market sales by creating effective market
demand and enhancing product promotion. Further, current study reflected the strategies adopted
by planet preserve which a well established organization unit in UK and company is operating
efficiently in order to increase their market share and also the goodwill. Moreover, this report
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also showcases the marketing strategies of the company which help in developing an in-depth
analyzing of the business prospects. Hence it can be concluded that the well developed strategies
of the company will helps it in enhancing profitability in the same as well as in global market.
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