Principle and Practice of Marketing (doc)

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Principal andPractice ofMarketing
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1SOSTAC model of marketing.....................................................................................................1TASK 2............................................................................................................................................5Effectiveness of retailers current SOSTAC strategy...................................................................5Marketing mix:...........................................................................................................................6Current marketing strategy used by the supermarket in the UK, and evaluated in task two,could be implemented in the international market you chose in task one?.................................7CONCLUSION................................................................................................................................9REFERENCES.............................................................................................................................10
INTRODUCTIONMarketing refers to all those activities which are done for the development of product orbrand in order to conduct sales. Principle of marketing are defined as the activities in which thegoods can be transferred to consumers through advertising, storing and selling. Sainsbury's is aPublic limited company, headquartered in Holborn, London. It deals in selling various productslike home products, luxury beauty and food products(Allyson Dooley, Jones and Iverson, 2012).The company was founded by John James Sainsbury 150 years ago, in 1869. In this report,Sainsbury's has been taken which is not established in India for the development of Sainsbury.SOSTAC model is popular for marketing and planning of business. This model is focussing onmovement and operation of Sainsbury in India. In the present study, detailed study of SOSTACmodel will be done and evaluation of retailers current strategy used .TASK 1SOSTAC model of marketing.This model is defined as the marketing model which was developed in 1990 by PRSmith. It stands for six fundamental aspects of marketing, they are, situation, objective, strategy,tactics, action and control. The model was developed to do business planning in easier andquicker way. The model considered SWOT analysis which helped in executing the campaign ofmarketing. In the context of expanding Sainsburry in India,SOSTAC model is explained asfollowing:1.Situation AnalysisFor rendering a detailed marketing of Sainbury in India, various steps were performed .The first step constitutes Situation analysis, it refers to various methods used by managers toanalyse internal and external business environment in order to understand abilities andcustomers of the organisation(Alserhan, 2017). Different tools were used to conduct this auditan which begins with macro environment.Macro Environment:It constitutes the external environmental factors which influence thesuccess of business, strategies and decision-making and are considered uncountable in business.Macro environment considers social, political, economical, technological, legal andenvironmental factors.1
Political factors :The political factors in India have a great influence on different organisationswhich are working in the country. In India, rate of interest is high on government and consumerdebts, it impacts the attitude of customers and have great pressure on business condition.Sainsbury has a great opportunity to explore the market opportunities in India as there are veryless supermarkets so government is contributing in providing manpower and domestic resources.Economical factors :These factors play an important role in every industry as theyaffects costs, demand, prices and profitability(Armstrong and et. al., 2014). Growth inrate of unemployment and Inflation in food prices are the factors due to which Sainsburywill threaten to enter the Indian market.Social factors: These factors include all those aspects which are causing any harm to thesociety which may be values, beliefs, etc. In the modern environment, customers prefer tohave all products available under one roof. So by introducing non-food products in India,as there is growing demand in certain type of products Sainsbury can extend its market .Ethics and cultural diversity will affect the social relations, as they contribute a majorrole in development of company in India.Technological factors: These are the factors which effect the operations and success ofevery business. Technological development helps an organisation to expand its capacityin the areas of growing demands. As there is huge advancement in technology, Sainsburycan start some online services in India because online culture is prevailing there whichwill help him in increasing customer awareness, brand image in the competitive world.Environmental factor :These are the known characteristics present in the environmentwhich effects the growth, survival and operations of an organisation. Organisationsimpacts environment either in direct or indirect way(Baker, 2016). In the context ofSainsbury, there is environmental issue of water scarcity and pollution is prevailing inIndia, so sainsbury can take some initiative that effectively manages waste, packagingand recycling.Legislative factors :These are the various policies which have direct impact on theorganisational performance. In context of Sainsbury in India, it can adapt new tax bymodifying its products compiled according to the legislative requirements.2.Objective2
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