Marketing Strategy

MARKETING STRATEGY 1
Marketing strategy
Institution
Student name
Date
Executive summary

Marketing strategy
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Production mechanism, economic status of the organization, competition, location, and
population of the potential customers are the main determinants of business performance at a
given trade period. These factors may favor or be antagonistic to the organization; the best
mechanism to handle this situation is to install a robust marketing strategy. This article is a report
on marketing to the management of an organization launching a new product in the market.
Table of Contents

Marketing strategy
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Marketing strategy......................................................................................................................................1
Executive summary.....................................................................................................................................2
Introduction.................................................................................................................................................5
Situational analysis......................................................................................................................................5
SWOT...........................................................................................................................................................5
Strength...................................................................................................................................................5
Opportunity.............................................................................................................................................6
Weakness................................................................................................................................................6
Threat......................................................................................................................................................6
PEST analysis...............................................................................................................................................6
Political....................................................................................................................................................6
Economic.................................................................................................................................................7
Social.......................................................................................................................................................7
Technology..............................................................................................................................................7
Objectives....................................................................................................................................................7
Role of marketing in Beauty Bay..................................................................................................................7
Marketing................................................................................................................................................7
Diagrammatic representation of how marketing is related to the 4Ps................................................8
Organization growth................................................................................................................................9
Economic growth.....................................................................................................................................9
Facing competition................................................................................................................................10
Customer relationship...........................................................................................................................10
Interrelationship of marketing and other functional units........................................................................10
Key areas of marketing..........................................................................................................................11
Management or production..................................................................................................................11
Finance..................................................................................................................................................12
Information technology department.....................................................................................................12
Elements of the marketing mix (7Ps).........................................................................................................13
Price...........................................................................................................................................................14
Profit margin strategy............................................................................................................................14
Market penetration strategy.................................................................................................................14

Marketing strategy
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Premium pricing strategy......................................................................................................................15
Promotion.................................................................................................................................................15
Advertisement strategy.........................................................................................................................15
Open air strategy...................................................................................................................................15
Placement..................................................................................................................................................16
Intensive distribution.............................................................................................................................16
Strategic positioning..............................................................................................................................16
Showrooms............................................................................................................................................16
Product......................................................................................................................................................17
Practical application strategy.................................................................................................................17
Product branding strategy.....................................................................................................................17
Audience definition strategy.................................................................................................................18
People........................................................................................................................................................18
Process......................................................................................................................................................19
Comparison of Beauty Bay and Boots marketing strategy.........................................................................19
Physical evidence.......................................................................................................................................21
SOSTAC marketing plan.............................................................................................................................21
Situation................................................................................................................................................21
Objectives..............................................................................................................................................21
Strategy.................................................................................................................................................21
Tactics....................................................................................................................................................22
Actions...................................................................................................................................................22
Control...................................................................................................................................................22
Control.......................................................................................................................................................22
Conclusion.................................................................................................................................................23
Reference..................................................................................................................................................23

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Introduction
Beauty Bay was set up in 1999 in Manchester. It was established as an e-commerce
business; hence most of its products are sold online. Beauty Bay don’t produce its own products,
it, however, sales detergents, perfumes, lotions, and other skin care products of the renown
brands in the United Kingdom. After several years of operation, Beauty Bay established several
stores across the state aiming to combat the tough competition it experienced from other similar
firms using both the online and store outlet of the beauty products. Over the years it established
itself in the market, developed loyalty to the customer and became customer’s choice of the most
states community members (Kiseleva, 2017).
Situational analysis
SWOT
Strength
The stability of Beauty Bay in the market accounts on the substantial financing from the
management and shareholders. This smoothed the operations of the organization and excluded it
from the problems associated with lack of enough funds to run the activities of the organization.
The management is also stable, and the personnel’s employed and deployed various duties have
a competent level of skills in their respective responsibilities. Further, the use of online selling
mode saved the organization the cost related to the establishment of physical stores at the initial
phase of the organization establishment.

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Opportunity
Research has it that; about 80% of the United Kingdom community members use the
internet on a daily basis. This provided an ideal environment for the business and eased the rate
at which Beauty Bay created contact with potential customers (Åberg, Fälting, & Forssell, 2016).
The product dealt with by Beauty Bay has a variety of uses and are commonly used on a daily
basis by people without the exclusion of gender, age, race, and social class. Despite all these
advantages that have helped in building of the name of Beauty Bay in the state, the need for a
robust and well-managed marketing strategy can’t be underestimated.
Weakness
Beauty Bay doesn’t produce products of its own, it therefore rely on the products
produced by renowned existing firms. The organization hence lacks the power of direct change
of the characteristics of the product to suit the market demand. The only power the organization
has is changes in the price of the product.
Threat
Competitors are numerous in beauty industry. The producing firms sell their products to
various retailers and also have their own outlets hence high completion. Lack of electric of
electric power and internet outage also affects the online selling platform and lower the number
of sales made.