This report discusses marketing, sales and negotiation skills applied by Greggs Plc. It includes PESTLE and SWOT analysis, marketing mix and personal reflection on sales and negotiation skills. The report also covers communication and emotional intelligence skills used by the organisation.
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Marketing, Sales and Negotiation Skills 1
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Table of Contents INTRODUCTION..................................................................................................................3 CONCLUSION AND RECOMMENDATIONS..........................................................................11 REFERENCES..............................................................................................................................13 2
INTRODUCTION Marketing refers to the activity of selling the right things at the correct place that are needed by the customers. Marketing involves many activities that include creating awareness among the customers to sell the products and services of the organisation. Sales negotiation is one of the most difficult activities in marketing and sales that involves a strategic preparation, willingness and perspective to compromise the prices in a strategic manner so that higher profits can be obtained. The marketing activities help the organisation to sell their products to the final customers in an effective and efficient manner(Bezaz, Himber and Soulez, 2022).The following report will describe various aspects of marketing, sales and negotiation activities performed by Greggs Plc. Greggs Plc is a chain of British bakery products dealing in the hospitality industry, established in the year 1939 and is headquartered in Newcastle upon Tyne, England. The following report will explain about the market environment factors with the help of sept and PESTLE analysis that affects the marketing activities of the organisation. Along with this it will also explain about the marketing mix with the help of seven Ps of marketing adopted by the organisation to develop effective marketing strategies. In the end it will provide personal reflection on the sales and negotiation skills that I have developed during this session. PESTLE AND SWOT ANALYSIS PESTLE Analysis PESTLE Analysis refers to a strategic tool that can be helpful to evaluate the external environment factors that affect the marketing, sales and negotiation activities of the organisation. PESTLE analysis consists of six major factors, which helps to evaluate the forces that affect a business in a particular location(Alanzi, 2018).PESTLE analysis of Greggs PLC is given as follows. Political factors: The government and politics upgrade impacts on every organisation and their well-being. If the government policies are not developed for a particular industry the complete business sector needs to face the loss. Economic factors: Across the world almost all the industries were affected by the Covid-19 pandemic, due to which they have to suffer enormous losses. 3
Socio-cultural factors: The society and the community have a great impact on how the customer trends, preferences and taste towards the products and services marketed by the company. Technology factors: The rapid changes in the technology have immense impact on the marketing and sales activities of the organisation (Aghlmand and et. al., 2022). Legal factors: The legal factors are the mandatory rules and regulations that are compulsory to be followed by the organisation. Environmental factors: These factors have a little impact on the marketing activities of the organisation. FactorImpact PoliticalWithin the UK, the government is veryseriousaboutensuringthat food businesses maintain an ethical standardforensuringthegood health of the people. It is necessary that Greggs Plc follows all the food safety and health standards so that it can safely market, sell and negotiate its products and services. EconomicThe economic factors such as the market prices, GDP of the country, inflationordeflation,creditrates etc.affectsmarketingand negotiationactivitiesofthe organisation(GrassiandVallati, 2019). Inordertostaycompetitiveinthe marketthecompanyhastoadopt variousstrategieslikeimprovingthe supplychain,downsizingthe employees and reducing costs so that it caneffectivelyperformsalesand negotiation in the market. SocialTheproductsand servicesofthe company are highly dependent on the community behaviour, culture, traditions, attitude, beliefs etc. that prevails among the people. The market has seen a sudden shift in theattitudeofpeopletowardstheir eating habits like veganism trend, light diet culture, etc. Greggs Plc has used creativebrandingstrategiesforthe products as per the needs of society like veganroll,vegansausage,vegan chicken sandwich etc. TechnologicalThedevelopmentofdigitalGreggs PLC has adopted the advanced 4
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technology,onlinepayment systems,onlinebooking,etc.has widelyaffectedhowcompanies market their products and services. technologiestofostercompetitive growth in the market such as free Wi-Fi services,onthegodelivery,online booking,digitalpayment,Google analytics etc. EnvironmentalWithintheUKtherulesand regulationsforthefoodsafety, customerhealth,licensing, environmentalsafetyetc.arethe mostcommonlawsthatmustbe adopted by the hospitality business. Greggs PLC obligates to all the food safetystandards,hygiene, environmental laws etc. so that it can operateitsmarketingandsales activities smoothly. LegalThe various aspects that affect the marketingactivitiesofthe organisationrelatedtothe environmentalforcesinclude ecologicalwell-being,zero emissions,properwaste management, eco-consciousness etc. The Greggs PLC has to adopt various practices of marketing and sales that can lower down the emissions of the organisation to greater levels. 5
SWOT Analysis SWOT Analysis can be explained as the framework that is used to analyse the strengths, weaknesses, opportunities and threats that an organisation has(Teoli, Sanvictores and An, 2019). It helps to identify the internal factors that can be managed, controlled and simulated by the organisation to achieve competitive advantages in the future. 6
In order to overcome the threats Greggs can use effective methods like improving its supply chain, taking the advantages of Technology, pre-planning, process automation etc. which could 7 StrengthsWeaknesses The major strengths of Greggs PLC are its huge brand image that makes it popular among the bakeryindustryandtheconsumerswantthe products from the organisation. Presence of the company all across the UK is another factor thathelpsthe brand to achieve economies of scale and higher profits. Exclusivetraininganddevelopmentprogram developedtotraintheworkforcehelpsthe company to develop standard capability among the employees to serve best to their customers. Moreover,thecompany'ssocialresponsibility (CSR) towards providing back to the society in which they operate makes it reputed highly. The public relation (PR) ethics of Greggs is among the major factors that creates more customers for the company. Weaknesses of the organisation lies in their enormous expenditure spent on training and development that reduces their vital profits. The company offers limited food choices and has a limited portfolio that makes it difficult to attract more customers. Lackofglobalizationand internationalisationactivitiesbythe company make it successful only in the regional market areas. Thepartialuseofthepotentialofthe organisation to expand its business makes theorganisationlikethefrogofwell (Hajizadeh, 2019). OpportunitiesThreats The major opportunities for the organisation are to expand the business in the international market so that it can explore greatest chances of growth. Greggs can also research for the new products and services and develop a wider range of products to satisfycustomerdemandandprovidehigher experience to them. Advancement of Technology like CRM systems, ICT,digitaltechnologyetc.canhelpthe organisationtoachievehigherbenefitsinthe market. Threats faced by the organisation include unfavourablesituationslikeCovid-19 pandemic that has declined the efficiency of organisation and lead to the losses in the business. Increasing competition from the businesses like McDonald, Starbucks, etc. may lead to declineinthecustomerbaseofthe organisation.
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enhance its marketing performance. By taking the advantages of opportunities in the market the company can also overcome its weaknesses and avoid threats in the future. DISCUSSING AND ANALYSIS OF MARKETING MIX The marketing mix is a strategical framework that consists of seven marketing tools that defines the strategy or the organisation to stay competitive(Kumar and Almoula, 2020). Marketing Tactical Tools Current StrategyEvaluation/argument ProductGreggs Plc sells its items under5product diversification strategiesasperthe porter'sgenericmodel, and every one of these fillsinasparticular itemsofferings.There productsareallsold under the brand name of a company. GreggsplcSellsproductswithatonof assortment accessible, which allowsclients to choose the items which suit them. The company also sells products that are very different from competitors, and with different elements proposed to clients. Its products are in that positionthat viewed so special. Their items are viewed to be of more excellence than that of competitiors . In such way, clients should follow through on a greater expenses for these things. PriceGreggsplcpresent estimatingprocedureto fixthecostlevelthat follows a cutthroat based valuingmethodology. This is on the basis that theinformationon competitior is effectively applicablebecauseof countless contenders that existintothebusiness (Batat, 2022). Theylikewise thinks about expenditureto set costs for a group of products for which either dataisn'tapplicableoncontenders,orare costlier to make, sells its productsat a more exorbitant price than competitor . This is on the thingsthat they offers many elements, and excessive price compensates for this. It is as of now taking full use ofitem pack valuingalso,wheretheproductsaresealed together and sold at price lesser than the all out ofindividualthings. It likewise take full use ofa discretionary 8
productvaluingmethodologyforparticular items, where it offers a cost for the base item and distinguish costs for the frill that show up with it. PlaceGreggsPlcsellsits productsbytwo advertisingmediums. The first is where it sells directly to its customers throughitsweb-based site. The second oneis whereitoffersto wholesalerswhothen offer to multiple retailers available all acrossthe country. Greggs plc has its products present on north of 500 retailers all across the country. It follows a concentratedpromotingsystemwherethey attempts to remember its products for whatever numberretailersascouldreasonablybe expected.Thisensuresthatitsproductsare accessible to customers fluently in many pieces of the country. It has a significant measure of online contracts with continuous engaging on its sites. Tocontinueitsweb-basedactivities,has contributed with various convenience specialist firms to give opportune conveyances. Theyfollowsanomni-channeldistributed framework where it has contributed its digital and physical stores to allow customers simple andsoberadmittancetoitsgoods(Fraser- Arnott, 2020). PromotionGreggsplctakes advantages ofnumerous mediamediumjsto advanceitsproducts. Theyutilizes customary media, which remembers an ad for televisionand radio. The company uses various above-the-line and below-the-line promotion tools that help it to market its products and services effectively. This is usefulbecause of its vastreach and capacity to draw in countless individuals. Its helpful on the web and visual entertainment promoting, which is less costlier and helpful because of the increasing utilization of the web. It advertise different virtual entertainment fields 9
with an emphasis on YouTube, Facebook and Twitter because of the commendable month to month use of these. PeopleGreggsPlchave individualsworking under its outreach group that assume a crucial part initspromoting endeavours.These individualshavebeen preparedinpowerful methods, yet additionally to recognize the business clientsthinkingabout theirinclinations (HuangalBobadillaand Murga Fernández, 2019). Greggs plc haveindividuals working in its customercareoffice.Theseindividualsare prepared to regard the customers and make an true effort to get their issues settled. They have individuals working with providers to getnaturalparticulars.Theseindividuals assume an important part in keeping up with or workingonthenatureoftheendresult delivered. The representatives in the Greggs Plc go through phases of preparation for its sales promotion, client services and purchase individuals as these assume a crucial part in conveying worth to the clients. ProcessGreggs plc requirements toassurethatits productsarenormally accessible at retail places have ideology introduced whereretailerscan informwhenaretheir stocks level getting low. Greggs Plc provides them more products while requesting its creations to recharge their stock. Thisassurethatproductaredependably applicabletocustomerswhenrequired. They have web-based supply chain operations, where orders are gotten in the PC ideology and in view of these orders; the accessible product from the stock is shifted to the suppliers. Physical evidenceGreggssellstheir productsonan unbearablevariety bundling that is fluently understandableon retail shelves. These are set on huge retail units provided by theorganisation,whichlikewisehavea significant plan. They havea web-based site whichis easy to use and allows customers to see its products at top notch images taken from different points. 10
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SALES AND NEGOTIATION SKILLS APPLIED BY THE ORGANISATION During the process I learnt about many skills that are used within the organisation to achieve effective and efficient marketing, sales and negotiationperformance in the market. Communication: The communication ability is very much ideal for developing the effective negotiation abilities and clearly communicating with the people to walk away by finding a deal with a smile. Effective communication helps to engage in clear discussion with negotiators so that effective deals can be achieved (Richards, Guerrero and Fischbach, 2020). Emotional intelligence: It becomes very important to understand the emotions while negotiating because it is crucial to achieve a better deal. A high degree of emotional intelligence can help you understand the perspectives and emotions of the other parties to crack effective deals by smooth negotiations. Planning: It can be explained as a declaration pathway for achieving the desired goals or objectives for the marketing, sales and negotiation. With proper planning a person can get a better alternative to a negotiated agreement that could help to market and sell the products with higher efficiency and effectiveness. Value creation is a powerful skill that can help to illustrate the importance and create value for the products and services among the customers. With the idea of negotiation the exports must have a bigger insight about creating value among the customers and in the larger market (Tran and Nguyen, 2020). Critical thinking: It is necessary that an individual have the ability to analyse the deals and critically think about the various aspects to make effective marketing and sales activity. It is understood that a person needs to have critical thinking to answer the questions effectively and efficiently to effectively market and sell their products to the prospects. By obtaining these skills an individual can definitely become a master of negotiation in marketingand sales. By properly evaluatingthe strengthsand weaknessesa person can understand about what skills they already possess and what skills they need to develop for becoming effective in marketing, sales and negotiation activities. 11
CONCLUSION AND RECOMMENDATIONS It has been discussed in the above report that the marketing and sales activities are highly affected by various internal and external environmental factors within the market. External environmental factors such as economy, politics, legislation, society, technology and ecological conditions influence the marketing activities of the organisation. Moreover, it has been understood about 7Ps of marketing and strategies used by the organisation to enhance their marketing activities. Along with this, certain recommendations have been made for improving the marketing, sales and negotiation activities within a business. Finally various skills have been demonstrated that can be useful and effective for creating best marketing, sales and negotiation performance. Certain recommendations for the organisation are provided to enhance its sales and negation activities through effective marketing mix. Marketing Tactical Tools Recommendations to each P ProductIt can be recommended to Greggs Plc that it may broaden additional benefits for purchasing goods, include warranty, conveyance & credit, post-purchase follow ups, assistance services and various such facilities. Greggs can also benefit from displaying new items which abide by the latest patterns for the lookout. They should also realise various opportunities which are presented in the market and act by launching new products which help them capitalise on such opportunities. Furthermore, they ought to examine newly launched goods in niche markets before going for complete market. It ought to augment its item portfolio, offering new product offerings to satisfy client needs. PriceGreggs plc needs forpresentingthe limits and remittances, where it conveys the down costs for the short time for drawingthe consumer and gain a share of market. Also it must aspply mental valuing where it costs items so they appearfor being lower; for ex- it may value the item worth $100 as $99 as people this to be less. 12
Morever, it could show newproductswith a the cost entrance technique wherethey offer theunderlying lower cost thanthe contenders for acquiring the piece of pie. PlaceGreggsplcsoughtforopeninguptheshopbytheweb-based entertainment ,where they willsell theitems on the stages alongside virtual entertainment post. It also ought to focus ondevelopmenttheweb-based site tothe such extent that turns out for more easy to understand and simple in utilizing.. It must guarantee that it offersthe items to big retail segmentsby the private selling (Sleep, Lam and Hulland, 2018). PromotionGreggsplcsoughtforrecruitingthepowerhousesbytheonline entertainmentsuch as bloggers or famous TV celebrities, andknowthem forthepromotions. Along with this, it sought for starting thepublicizing effort wherethe reliable message is given to the consumers on all the stages of the media. It should goby thevarious advanced promoting strategies for working on web-based traffic onthesite. These includes the flag ad, Search Engine Optimization and making of the blog. PeopleGreggs Plc sought forgivingmotivations tothe workby rewards for meeting the targets, or by the commissions for extra sales profits earned. ProcessGregg Plc ought to utilize PCs all overto deal with its different cycle to increasing effectiveness and ideal conveyance to customers. They needs to continually search for ways of advancing and work on its cycles with regards to effectiveness and price. Physical evidenceGreggs Plc ought to gather criticism from its customers with respect to its grouping so it could help in betterment of this. It also needs to put up its own stores where it gives a client accommodating climate and feeling, empowering its customers to purchase its products. 13
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REFERENCES Books and Journals Aghlmand, R. and et. al., 2022. Implementation of green marketing frameworks based on conceptual system designing by integration of PESTLE, classical Delphi and MCDM modeling.SN Business & Economics,2(8), pp.1-33. Alanzi, S., 2018. PESTLE Analysis.Project Management. Batat, W., 2022. The death of the traditional marketing mix (7Ps) and the rise of the experiential marketing mix (7Es). InStrategies for the Digital Customer Experience(pp. 178-194). Edward Elgar Publishing. Bezaz, N., Himber, T. and Soulez, S., 2022. Marketing-Sales Alignment and Business Practices: An Abstract. InAcademy of Marketing Science Annual Conference-World Marketing Congress(pp. 101-102). Springer, Cham. Fraser-Arnott, M., 2020. The marketing mix in parliamentary library websites.Journal of Library Administration,60(8), pp.875-888. Grassi, A. and Vallati, M., 2019, May. AI to Facilitate Legal Analysis in the PESTLE Context. InProceedingsofthe2019EmergingTechnologyConference.Universityof Huddersfield. Hajizadeh, Y., 2019. Machine learning in oil and gas; a SWOT analysis approach.Journal of Petroleum Science and Engineering,176, pp.661-663. Huangal Bobadilla, M. and Murga Fernández, J.M.D.C., 2019. Marketing mix apliado (7PS) y su influencia en las ventas de la empresa Gamble Eventos SAC de Trujillo-2019. Kumar, S. and Almoula, T.S., 2020. A comparative study of customer service level based on service marketing mix (7Ps) in selected public and private sector banks in Bhopal, MP, India, by using mystery shopping as a tool.International Journal of Financial Services Management,10(3), pp.239-267. Richards, J., Guerrero, V. and Fischbach, S., 2020. Negotiation competence: Improving student negotiation self-efficacy.Journal of Education for Business,95(8), pp.553-558. Sleep, S., Lam, S.K. and Hulland, J., 2018. The sales–marketing integration gap: a social identity approach.Journal of Personal Selling & Sales Management,38(4), pp.371-390. Teoli, D., Sanvictores, T. and An, J., 2019. SWOT analysis. Tran, M.D. and Nguyen, P.N., 2020. The impact of passion on sales performance: Is negotiation a missing link?.Australasian Marketing Journal (AMJ),28(3), pp.124-133. 14