Marketing Processes and Planning for Eco-Food Brand
Verified
Added on 2023/06/15
|15
|4215
|217
AI Summary
This report discusses the marketing processes and planning for Eco-Food Brand, a luxury food products company based in London. It includes benchmarking analysis, marketing mix of two companies, recommendations, presenting marketing plan, budget, and monitoring and evaluation.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
2: MARKETING PROCESSES AND PLANNING
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................4 Part 2 benchmarking analysis......................................................................................................4 Marketing mix of two companies................................................................................................5 RECOMANDATION..................................................................................................................7 P4, M4& D3 Presenting Marketing Plan.....................................................................................7 P5 Describing media plan..........................................................................................................10 M5..............................................................................................................................................12 D4..............................................................................................................................................12 CONCLUSION..............................................................................................................................13 REFERENCES................................................................................................................................1
INTRODUCTION
Marketing Plan is defining as documentthat is consist of marketing outlets that helps the organization to accomplish the goals in limited frame of time. Along with this, this plan helps the organization to promote new product linein themarket (Akbar, French and Lawson, 2019). However, itis very essential forcompanies as itallowsto analyse the threatof external andinternal environment.As well asmake action planin order to cop upwith the competitors and threats. The Present report is based Eco- Food Brandthe company headquarter is situatedat London, UK.The organization provideluxury foodproducts. Ontheother hand, study will discusson media planso that it can effectively promote their products. Lastly, it willanalysesmarketingmixandthe way ithelpsin achievingthe businessobjectives.In addition to this, itwill evaluatethe tactical approachesand strategiesthatwill helpbusinessto grow. MAIN BODY Part 2 benchmarking analysis The organization Morrison leading the super market of food product in the country. In order to grow the organization is willing to lunch new food product in the market. The aim of the organization is to deliver wide range of the product to the regular customer. Along with aim to attract the new customer for increasing the sales of the business as well as willing to create unique image in the minds of the customers to expand the business (Foster, A., Evans, J. and Maidment, G.G., 2018). The organization delivers luxury as well as premium food quality to the customers. In decision-making process, the manager of the organization decides to conduct the benchmarking analysis in order to identify the required changes to improve the performance of the company. Basicallybenchmarkingistheprocessofdeterminingtheperformanceofthe organization in order to increase the scale of the growth. Along with this the manager of the organization determine the best standard of the company can deliver to the customer in order to satisfy their necessities. With the assistance of the analysis the organization identify the area of improvement. As per the benchmarking analysis the organization delivering the best services in
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
the market of United Kingdom. The firm is providing high competitive product to the wide range of the peopleCatal, et.al 2019. Afteranalysationofthecompany'sbenchmarkthemangeridentifiesthatthe organization is serving the best quality product in the marketplace. It has potential to create more opportunities in forthcoming.It will be acknowledged that the leading company providing high values to the customers as compared to other brands like Tesco and Sainsbury. The company expended the market rapidly and give Tough competition to other brands of food commodity or the food lines.The organization is leading the largest chain in the market of UK (Tomczak, Reinecke, and Kuss, 2018).Except petroleum installation the Morrison do not provide loyalty pre-programs to its customers which can be the biggest drawback for the organization. Along with this the institution do not deliver online as well as homer services for the comfort off the consumers or the buyers. It acquires the highest position in the highest food production company. The organization delivers very poor technical services in the modern era. The manager of the company determine that the organization need to adopt various tools and techniques or plans of action in order to survive in the market.The cost of the product is quite expensive and cost effective. The workers who are working with in the firm is capable of maintaining the relationship with buyers of commodity Marketing mix of two companies There are the various marketing mixes strategy the organization utilized in order to expend the business in domestic as well as international marketplace. In general, with the assistance of marketing mix the organization develop effective marketing plan as it contains various elements of the organization. The two famous UK based organization which is leading the market of UK since many years are Levis and Nike. Both the organization is delivering exclusive quality of luxury product in the marketplace (Benzo,Mohsen, and Fourali, 2017).The company’s focus on the 4ps of marketing mix in am below mentioned manner. Marketing mixLevisNike
ProductThe levies provide various innovative design to its customers. The products of the company includevarietyofjeans,khakis,shorts, sarongs, jackets, sweaters, socks, underwear, belts, skirts, dresses, accessories, jumpsuits andmanymore(Fenyves,andTarnóczi, 2020).The product is produce in every colour asperthetasteandpreferencesofthe consumers. TheNikemanufacturethecommodity whichinvolvesshoes,attires,gearand accessories. The organisation delivers the best quality product to the consumers. The product is design as per the preferences of buyers. PriceThe levies preserve the standard of the fixed price. The prices of the commodity are as per thetargetedcustomer’saffordability.The priceinvolvesTheinnovativefeatureof providing offers and discounts. The Nike organisation followed value based pricing as well as premium pricing strategy. The pricing is decided by the perception of the buyers available in the market. placeTheorganisationexpendsthebusinessin targeted market therefore the markets are Asia pacific. The organisation distributed the outlet franchise in various international market like India, Qatar, Kuwait etc. The organisation offers online stores and retail store in various countries of world. For the distribution the organisation allotted franchise for different outlets. PromotionAlongwithdigitalplatformslikesocial media,television,radioandpodcasts.The organisationutilizedvariouscampaignin order to gain popularity. in order to promote theproduct,organisationinfluencethe customer with the assistance of celebrities. For promotion of product the organization utilizevariousdigitalplatforms.The organisation utilized personal selling, sales promotions and public promotion as strategy fortheadvertisement.Theorganisation promotesproduct through hoardings and bannersorbillboards(Gurumoorthy,and Santhiya, 2019).
RECOMANDATION In order to acquire the success in the market the organisation need to adopt various strategy which the non-food producing organisation is utilizing to acquire the place in the market. With the strategy the organization improves the value in the marketplace (Išoraitė, 2020). As per the benchmark analysis the organization is not delivering the loyalty programme to the customers which is the biggest disadvantage for the organisation. the company should adopt loyalty programme in order to satisfy the customers. Because of this organisation spread awareness among the buyers of the products. The loyalty programme deliver opportunity to generate new customers in the marketplace which increase the sales of the product the company want to launch in the market. The more customer is satisfied the more product the consumer consumes. The organization should adopt the digital technology as the strategy for the promotion of the business.In a modern era, everyone hugely depending on digital technology. The organisation should deliver the product and service offline as well as offline along with the home delivery service. Many other competitive company is providing these services to achieve the trust of buyers as everyone is willing to have services on the door steps (Jindal, et.al 2020). For the promotion of the business the organisation should utilized the online or digital platforms or social media sites like Facebook, Instagram, Pinterest, chrome and many more. This is because everyone is every time busy in scrolling the social media and got addictive. Through the online platform, the organisation acquires everyone’s attention in an easier manner. Beside this the organisation go for paid promotion like the celebrities of the country can influence the customers to buy the product in very effective manner (Pham, 2019). P4, M4& D3 Presenting Marketing Plan Executive Summary: The report is based on Eco- Food Brandthatprovidevarious luxuries foodproductssuch as Saffron essenceto their customer. Along with this, the headquarter of theorganization is situatedat London (McCamley and Gilmore, 2018).Furthermore, the study hasdiscussed on vision and mission of company. Alongwith this, it has also discussed on SWOT, PESTLE and STP in order toanalysethemarket situation. Lastly, it will throwlight onmarketing mix andoverall budgetrequiredfororganization.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Mission:The organizationwantstoprovide greatquality of foodproducts to their customer. Vision:To become the world best luxuries foodproductcompany. SMART Goals: To attractcustomerof high income leveland providing the great quality of services. To increase the salesofthe organization by 5%. To makeuseofdigital mediamarketing in order to promotetheirproducts in the competitivemarket. To makeuse ofadvance technologysuch in production of services. To accomplishedthe objectiveoforganizationby 1 year. STP:The organization has decided to attract customerof highincome level as the company will be sellingluxuriesproduct inthemarket. Along with this, ECO- Food brand willbe attracting customerofall ageand mainlyit will be focusing onfood andbeverages companyfor earning theprofit (Rismawati,Wahyuni and Widodo, 2019).Moreover, the organization has decidedto open the store at prominent location as it willhelp in attracting highlevel income group. SITUATION ANLYSIS: SWOT/ PESTLE SWOT will alloworganizationto identifythe internal + external factor that affect the organization whileontheother hand PESTLE will analysis the externalfactor that affectthe grow of firm. The Strengthsofthe organization is thatit will be selling high qualityproducts thatwill help thecompanyto stand out inthecompetitivemarket. Along with this, weakness of thefirm will that it is not using digital marketing for promoting their products. Opportunity that Eco- Food brand can grab is totarget onlyhighincomepeopleandrepeatedrestaurant thatwill help in attractinglarge customer (Islam, 2017). On the other hand, Pestle analysis will help in identifyingtheexternal issues such asorganization will facePolitical issues likewise trade restriction in market of UK. Along with this, Economical the organization is dealing in London and theGDP of thiscountryisgood thus firm willearn more. Furthermore, Socialthe firmhastomaketheproducts according to needsand demands
of customer.However, organization has to make useof digital technologyin orderto increaseits total revenue. Lastly, thefirmneed tofollowall legal rulesuch as Labour Laws, Food Safety Act in order to reduceinterventionof governmentand Ngo’s.In addition, to this, in environmental factor the organizationhas to follow CSR policy to protect the environment as well asto attract customer (Nekrasov and Melnyk, 2017). MARKETING MIX: It is a foundation model that is consistof set ofmarketing tool thatorganizationwill usein ordertoaccomplishtheobjectiveofcompany. Product: The Eco- Food Brand willprovide their customerwithluxuries food product such asSaffron Essence, Edible Gold leaf, and vanillaessence. Alongwith this, for producing theseitems organization will make use of natural raw materials. Price: The company has decidedtosell theirproductsat standardpriceso that it canattract more andmorecustomer (Lim, 2021). In addition, to this organization willprovide variousofferat big occasion andgift couponsto theloyal customer. Promotion:Eco- Food Brandwill make use of digital technology such as social media sites andonlinewebsite inorderto attract more andcustomeras well as to increasetheirbrandvalue(McCamleyandGilmore,2018).Alongwiththis, organization will use traditionalmethod of selling by advertisingtheproducts inthe newspaper in order to increase brand awareness. Place:The organization has decided to open their store at prominent location so thatit can connect with more customer. Along withthis firmhas decideto open 1physical store at London. Process:Thecompanywill providetheirtargetaudiencewithcustomer serviceso that it can solve theirissues.Thiswill result in building healthyrelation with them. People:ECO- Food Brandwill produce theproduct accordingto the needand demandofthe customer as it will contribute in increasing the sales (Othman and et.al., 2019). Alongwith this, company has decided to target high income group ofpeople to run their business.
Physical Evidence:Thecompanywillhave one physical store andit will also use online websitein ordertoattract more and more customer. Budget PARTICULARSAMOUNT (IN £ ) RENT50000 ADVERTISEMENT20000 RAW MATERIALS60000 SALARY30000 OTHERS20000 TOTAL180,000 MONITORING AND EVALUATION: TheEco –Food Brand will makeuseof technologysuch asROMI thatmeans Returnon marketinginvestment. Thistool will allow organizationto measurereturnon investment thatcompanyhas spent on marketing (Pauwels and Reibstein, 2017).However, it can be used to evaluatethe investmentonorganizationoverallmarketing mixspecific marketing programme.Furthermore, organization will also makeuseofCVL thatmeans Customer Lifetime Value. This tool will allow organizationto measure thetotalincome if company bringstypical customer.However, it will allow firm tocalculatedthetotal revenuegeneratedby companywithhelp ofcustomer. Thus, it is importanttoolas it helpsorganization to interactwith customer aswell as to implement marketing plan. P5 Describing media plan Media plan helps theorganization todeliver the messageto the targetedaudience with the helpof various online platform. Objectives: The Eco- Food Brand wantstoincrease their brand awareness by 10%. Theorganization has wants toattract more customerin orderto increase sales. Goals: Theorganization wantsto increasetheiroverall sales in bothinternational as well as localmarket.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
TargetAudience: The organization has decidedto targetcustomerof highincomelevel as well as ofall age. Marketing Communication channels: Theorganization willhasowned mediathatwill be theirofficial websites. Along with this, firmwill makeusesocial sitesthat are earned media such asInstagram, Facebook etc.Furthermore, itwill alsouse paid mediain order to advertise theirproducts and services. Announce date SubjectContentMedia Contacts Deadli ne Importanc e OwnerCostStatus The organization hasdecided tolaunch their officialsites on 22/12/2021. The compan ywants to promote their products and services. Eco– Food Brand will makeuse ofimages andvideo to promote their products. Official websiteof company. AndSocial sitessuch as Instagram, Facebook and Twitter Within 6 month s Itisvery important of organizatio n asit will increase thesales by 10%. HR Manage rof digital marketi ng departm ent £8500 0 Notyet published Budget PARTICULARSAMOUNT (IN £) Content Creation20000 Social Advertisement10000 Social Engagement5000 Software Tools20000 Promotion30000 Total85000
M5 The Eco Food Brandcan makeuseInstagram and Facebook socialsite as it willallow theorganization to interactwithtargetedAudience.Thissocial sitehaspaid advertisementfeature that allowsthe company to selecttheageoftheaudienceit wants deliverthe message.This willhelporganizationtoselectthecustomer accordingto their choice. Thatwill attract moreand morecustomer (Saura, 2021). Along with this, Hashtagfeaturewill helpcompanyto promote their products on variouspage thatresults inincreasing the engagement. Moreover, Instagram provideswith business account thatallowstheorganizationwith insightsofnumberofvisitor has visited thepage.Italso providewithinformation relatedtoengagementas well as new featureof selling product threwthissites will contribute inincreasing thebrand awareness (Bala and Verma, 2018).However, Eco Food Brand Shouldmake use ofsocial mediaas it will helpin identifyingthe taste and preferenceof customer. Thatwill alloworganization to makeproduct accordingto their needsaswell asincreasetheoverall revenue. WEEKCOMMUNICATION CHANNELS CONTENT TYPE BUDGETTOPICAUTHOR 1/01/2022- 1/01/2022 Instagramand Facebook Advertisement£5000About company products and services Digital Marketing Head D4 The organization will be usingsocialmediasites as wellasofficialwebsites in order to increase their sales.However, thetotal amountof budget required for promotingthe productswill be £85000.Along with this, thetimerequired for completing thedigital marketing will be approx. 6 months.In case of socialsitestheorganizationhas decided to advertisetheir productsfor 1 week thatwill contribute inattractingmoreandmore customer in limited frameof time (Dahiya and Gayatri, 2018).Furthermore, digital marketing willincreasethe total sales oforganization up to 10% as comparedto traditional methodof selling. In addition, to this, data analytical toolwillhelp companytoidentify the
taste andpreferenceofthe customer thatwill contributein producing commodities accordingto needsand demands. Moreover, digitalmarketingwill allowtheorganizationtoprovidethe informationabout thecompanytotargetedaudience. That will allow customerto know aboutthe raw materialused by firm thusitwillincreasethe trustwithinthem. However, there can besomenegative aspectofdigital marketing such asany negative comment onthe website or pageof firmwill affecttheoverall growthof firm (Shareef and et.al., 2019).Thus, organizationhas to hire social mediaspecialistformanagingthe pageofthecompany.Along with this, it will alsoincrease thebrand awareness ofthe organizationby 5%inthecompetitivemarket.Moreover, itwill allowto keep the customer more satisfied that willresultsinincreasingtheoverall brand reputation. CONCLUSION From the above report it will be concluded that before launching new product in marketplace the organisation should adopt various strategy for the growth of the organization. From the benchmarks analysis the organisation identifies the pros and cons of the organisation as an area of improvement. The present report provides marketing mix of different brands. Furthermore, the present report developed the business plan for the organization named as eco food production company which is established in UK.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
REFERENCES Books and journals Akbar, M. B., French, J. and Lawson, A., 2019. Critical review on social marketing planning approaches.Social Business.9(4). pp.361-393. Bala, M. and Verma, D., 2018. A critical review of digital marketing.M. Bala, D. Verma (2018). A Critical Review of Digital Marketing. International Journal of Management, IT & Engineering.8(10). pp.321-339. Benzo, R., Mohsen, M.G. and Fourali, C., 2017.Marketing research: planning, process, practice. Sage. Catal, et.al 2019. Benchmarking of regression algorithms and time series analysis techniques for sales forecasting.Balkan Journal of Electrical and Computer Engineering,7(1), pp.20-26. Dahana, W. D., Miwa, Y. and Morisada, M., 2019. Linking lifestyle to customer lifetime value: Anexploratorystudyinanonlinefashionretailmarket.JournalofBusiness Research.99. pp.319-331. Dahiya, R. and Gayatri, 2018. A research paper on digital marketing communication and consumer buying decision process: an empirical study in the Indian passenger car market.Journal of Global Marketing.31(2). pp.73-95. Fenyves, V. and Tarnóczi, T., 2020. Data Envelopment Analysis For Measuring Performance In A Competitive Market.Problems And Perspectives In Management,18(1), pp.315-325. Foster, A., Evans, J. and Maidment, G.G., 2018, April. Benchmarking of supermarket energy consumption. In5th International Institute of Refrigeration Conference on Sustainability and the Cold Chain. IIR. Gurumoorthy,TRandSanthiya,M.,2019.MARKETINGMIXINGLOBAL MARKET.Advance and Innovative Research,6(2), p.15. Islam, M. A., 2017. SWOT Mix and PESTEL Analysis: Effective Tools of Risk Management of Leasing Companies.The Millennium University Journal.2(1). pp.1-18. Išoraitė, M., 2020. Marketing mix features.Ecoforum Journal,9(1). Jindal, et.al 2020. Marketing-mix response across retail formats: the role of shopping trip types.Journal of Marketing,84(2), pp.114-132. Lim, W. M., 2021. A marketing mix typology for integrated care: the 10 Ps.Journal of Strategic Marketing.29(5). pp.453-469. 1
McCamley, C. and Gilmore, A., 2018. Strategic marketing planning for heritage tourism: a conceptual model and empirical findings from two emerging heritage regions.Journal of Strategic Marketing.26(2). pp.156-173. Nekrasov, V. and Melnyk, V., 2017. Application of SWOT and PESTEL Analysis in Combating EconomicCrimesandWhenIdentifyingThreatstoEconomicSecurityofthe State.Probs. Legality.136. p.193. Othman, B.and et.al., 2019. The influences of service marketing mix on customer loyalty towardsUmrahtravelagents:EvidencefromMalaysia.ManagementScience Letters.9(6). pp.865-876. Pauwels, K. and Reibstein, D., 2017. Challenges in measuring return on marketing investment: Combining research and practice perspectives. InReview of Marketing Research(pp. 107-124). Routledge. Pham, Q.H., 2019. Digital Marketing Planning: Case Blooming Grace. Rismawati, F. F., Wahyuni, S. and Widodo, J., 2019. Strategi Pemasaran STP (Segmenting, Targeting, Positioning) Larissa Aesthetic Center Cabang Jember.Jurnal Pendidikan Ekonomi: Jurnal Ilmiah Ilmu Pendidikan, Ilmu Ekonomi Dan Ilmu Sosial.13(2). pp.68- 72. Saura,J.R.,2021.Usingdatasciencesindigitalmarketing:Framework,methods,and performance metrics.Journal of Innovation & Knowledge.6(2). pp.92-102. Shareef, M. A. and et.al., 2019. Social media marketing: Comparative effect of advertisement sources.Journal of Retailing and Consumer Services.46. pp.58-69. Tomczak, T., Reinecke, S. and Kuss, A., 2018. Planning the marketing mix. InStrategic marketing(pp. 171-221). Springer Gabler, Wiesbaden. Zulfiqar, S. and Ahmad, S. F., 2020. Investigating the impact of external environment on strategic marketing planning: a case study for NetSol Technologies Inc.International Journal of Business Process Integration and Management.10(2). pp.185-193. 2