Marketing Strategy of Sainsbury
Added on 2020-10-22
16 Pages5691 Words168 Views
Marketing strategy
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3PART 1............................................................................................................................................3LITERATURE REVIEW ...............................................................................................................3Key perspective on marketing strategy.......................................................................................3CRITICALLY EVALUATE A RETAILER PAST AND CURRENT MARKETINGSTRATEGY WHICH STARTED LIFE AS A BRICKS AND MORTAR PLAYER....................6Company heritage and History ..................................................................................................6Strategic perspective...................................................................................................................6Core values .................................................................................................................................6Core products or services ...........................................................................................................7Time Line and Critical events in History of Sainsbury ..............................................................7An Evaluation of Current strategy .............................................................................................7Current performance indicator ...................................................................................................7Market and competitor analysis .................................................................................................7PART 2............................................................................................................................................81. Marketing strategies for the future ........................................................................................8CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONMarketingis considered to be as crucial business activity. Success and growth of anenterprise is completely based on the performance of marketing team. Promotional activitiessupports an organisation in accomplishing desired marketing as well as business objectives.Marketing can be defined as an action of promoting as well as selling goods or services. Itinvolves different activities such as selling, advertising, distribution etc. Main purpose ofmarketing activities by an enterprise is to inform people about new products or services. Othermain objective of marketing activities by an enterprise is to identify and cater the needs of peoplewhich is very much crucial for smooth functioning of business. Development of an effectivemarketing strategy in order to accomplish desired objectives. It is required by manager in anorganisation to involve all marketing mix in promotional plan, it will support business entities inaccomplishing desired outcomes. An effective marketing strategy help firm in gainingcompetitive advantage.The purpose of report is to analyse the marketing strategies adopted by Sainsbury. It alsohas emphasizes on measuring the effectiveness of promotional strategies adopted by businessentity. Report will include some alternative strategies which can be adopted by an enterprise foraccomplishing desired marketing objectives. PART 1LITERATURE REVIEW Key perspective on marketing strategyAccording to Agrawal, Singh and Murtaza, (2015) marketing is the big concept and longlasting effects on the development. There is a narrow perspective of marketing emphasizes thesimple intent of a company to tailor of a company which is a unique product offering ton fit thespecific needs of a given customers market. Overall, it brings the best outcome and long lastingresult goals. Narrow perspective can also be described as a condensed view of the broadermarketing perspective. In current times company has been using marketing plan to developeffective objectives, strategies and tactics that define the intent, approach and specific steps tomarketing. The narrow perspective is more general and concepts oriented. This perspective hasbased on general and concept oriented. This concept generally focused on brand awarenessstrategies, that helps in promotional plans and tactics which lay out specific techniques andmedia for advertising and communication.
According to Baker, (2014) marketing strategies are the plans or systematic approach inorder to meet out the customer satisfaction and results goals in order to meet out the satisfactionresults. Basically, marketing strategy is based on identifying the target customer needs andinterest in a clearly defined product market in order to develop the customer satisfaction andfocused towards the company. Sainsbury's must need to set up their target customers in order toset the long lasting results goals and best outcome results and growth. Sometimes due to to notaccepting current trend of the market and customer needs. Company fails to get the enoughattraction level of the customers. It affects the long term market and give the best outcomeresults and growth. There are so many marketing perspective in which company make theirmarketing planning or decision making approach. Such as Product and distribution, pricing andpromotions, target market etc.As per the Barile and et.al., (2016) Value based marketing perspective where companyconsidered the customer value and their moral ethics on which company needs to make productor services. Such as Sainsbury's make products or services as per the behalf of making goodachievements and goals. In this approach company shifts from product centric to a customercentric one. Value based marketing follows the social responsibility, business Alliances,customers values in order to keep the market positioning more sustaining. As per the Chkanikova and Lehner, (2015), it has been critically evaluated that marketingalso can affect the company in negative manner in terms of making low affective work goals andobjectives and make the best outcomes and goals. Customer values based strategies isdiscovering what customers value. This affect the better goal and better servicing in more appropriate manner. Overall, itaffects the best and effective management skills in order to meet out the competitive scenario ofthe market. Clark and Wójcik, eds., (2018)Another concept or perspective of the marketing isthat define the philosophical movements where there are cultural tendencies of inherentsuspicious towards a global culture. This concept has been based on advertising, branding andstrategic brand thinking. In present scenario, where market has been reached to the higher leveland also affect the long term market and long term effective enhancing growth. With thispostmodern approach of marketing where one to one communication is created betweencustomers and company which is a real mouses, real computers and real key boards etc. Overall,
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