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Principal And Practice of Marketing - Morrison

   

Added on  2020-10-22

18 Pages3809 Words351 Views
Principal And Practice ofMarketing

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Promotional tactics of high supermarket ....................................................................................1TASK 2..........................................................................................................................................11Theoretical aspect of Promotional mix.....................................................................................11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTIONMarketing refers to the process in which company sells its product through differentmarketing promotional techniques like advertising, personal selling etc. It emphasizes oncreating long term relationship with the customers for the purpose of increasing sales(Oladepoand Abimbola, 2015)Present study will be based on Morrison Company is the biggest supermarket in theUnited Kingdom. It was founded in 1899 and its headquarter is situated in the Bradford, WestYorkshire, England. It is a public limited company.Report will include the promotional tactics inside the store, away from store anddigitalised way of promoting the product. Further more it includes theory of promotional mixand its effectiveness on the company(Yang and Lee, 2016)TASK 1Promotional tactics of high supermarket Marketing StrategyMarketing strategy refers to setting up of plan and its evaluation and then itsimplementation in the market for selling the product in the market. Morrisons use a marketingmix strategy for promoting its product in the market. As it uses 7Ps strategy, Firstly in case ofproduct it believes that providing fresh product to the customer leads to success. It manufacturesits own product by ensuring the quality of the product. Price is the main strategy which everycompany has to decide to sale its products. Morrison thinks that customer satisfaction is moreimportant than the price of the product so it ale its product by lowering the price(Charanah andNjuguna, 2015) Place is another marketing mix factor Morrison cover the large part of UK anddifferent countries to serve its product and also sells its product through online marketing. Andalso By providing special offers Morrison attract customers to buy their product offline or online.It provides job opportunities to many people in the country so that they are also the part of theirbusiness. By maintaining the quality of the product at reasonable price company attracts thecustomer through this process.Morrison has its operations in different countries and through websites also it ensures theavailability of particular product in its range. Morrison company also use discount strategy to sellits products offline and online(Maulani, 2017)1

Promotional tactics inside the store Promotional mix is the tool which a business use to encourage the customers to buy theirproduct by 4Ps of the marketing mix strategy.Product: It is defined as the company is giving goods and service to its customers to satisfy theneeds and wants of them. For example: Quality of the product, packaging etc. Price:It refers to the situation when customer buy product from the company and pay money forit. For example: Discounts, payment through credit cards.Promotion: It means company is promoting its product to the customer by using variouspromotion techniques like advertising through newspapers templates etc. Place: It refers to place where product is available for the customer. For example: supermarkets,shops etc(Mohammad, 2015)Morrison’s uses different promotional tactics that are as follows:Discount: Morrison is providing discount to its customers. By availing different offers to thecustomers it sells its product in the market. It also offers online discount to the customers.Through special discounts it attracts the customers. Morrison also provide quality with itsproduct.2

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