Importance of Marketing in Creating Brand and Stability

The provided report highlights the importance of marketing in creating a brand and stability in the market. It emphasizes that marketing has a vital role in creating awareness about products and services, developing perceived value, and dealing with consumers in a centric approach. The document also mentions extending business internationally may come with challenges but consumer-oriented strategies are beneficial for growth.

PRINCIPLES AND
PRACTICE OF
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK-1............................................................................................................................................3
SOSTAC marketing model:-.......................................................................................................3
TASK-2............................................................................................................................................6
Environmental needs to be undertaking of the effectiveness of the retailers. ............................6
TASK-3 ...........................................................................................................................................8
Current marketing strategy used by Morrison in UK, and in the international market..............8
CONCLUSION................................................................................................................................9
REFERENCE.................................................................................................................................10

INTRODUCTION
The word marketing has a long process which defines from advertising the product till
the completion of a given task. It clarifies every aspect related to market strategies and the
advertising process of merchandise and services in an organization. Practice of marketing
creates brand in market which helps in building goodwill in the eye of consumers (Goworek,
McGoldrick and McGoldrick, 2015). It gives an enormous impact on making a product more
impactful and create a need in market by featuring it with perceived value. Perceived value
showcase the features of a product and maintain a stability in market as to get the proper
strategies for future growth.
The company Morrison is a brand in retail industry founded in 1899 at Bradford,
England, UK. It deals in various product such as Food and drinks, clothing, books to read,
varieties of magazine etc. This report covers the whole scenario of Morrison and analyse the
work in different countries which put efforts in getting objective on a given period of time.
TASK-1
SOSTAC marketing model:-
SOSTAC is the marketing model which was developed and created in the year of 1990s
by PR Smith and later in his book which was published then in the year of 2004 (Luca, Hibbert
and McDonald, 2016). SOSTAC is an acronym which stands for Smith's six fundamental factors
of marketing that includes situation, objective, strategy, tactics, action and control. These are
described as under:
Situational analysis – It is the first factor of marketing model which help in identify the
situation and condition of the possible web presence in the current moment. It is required for
Morrisons company is to analyse whole industry and review their services, resources, strengths
and weaknesses in better manner. This can be used for implementing areas for make
improvement in areas for addressing major strengths effectively. In this, respective company are
conduct PEST analysis which help in analysing such factors impact upon business operations
and its functions. These are described as follows: Political factor – Canada is a democratic country which has a parliament government
comprise with the house of commons. In this, rules and laws are governing powers which
fall under political factors. Such authorities put forward laws for the limitations of an

organisation. For Morrisons, political factors such as policies and procedures are carried
out business operations and its functions (Dimitriadis and Dimitriadis, 2018). Currently,
business environment is influencing the UK food retailing industry along with both
macro and micro surroundings. Such environment factors are beyond the control of
marketers but they are still impact the decision which are develop strategic marketing
strategy. Economic factor – Canada is not only one of the wealthiest countries in the world and it
is top ten trending nations. In this, such important factors are related to money and
profitability. Morrisons are mainly focus on income maximisation wherein it has taken
more care of credit crunch and economic downfall. It is difficult for Morrisons is to
establish and operate business in respective country. Social factor – In this, society culture and way of doing things are directly impact on
culture of an organisation in an environment. Shared belief and attitude of the group of
people play an important role in analysing customers choice and preferences regarding
current trends. Morrisons company identify buyers needs and demand as per this they are
make modifications in their products which satisfying their requirements in better
manner.
 Technological factor – Canada is one of the most developed country in the form of both
technology and science. It is relates to adopt and use modern technology and techniques
in utilisation of production and sales. (Kitchen and Sheth, 2016). Morrisons are mainly
concern to ensure that it is use World Wide Web for their business strategies. The
company required to use progressive technology which help them in developing
advanced products which satisfy their customers needs and wants.
Objectives – The main objective of Morrisons company is to provide quality based products and
services to their customers. They are focus on expanding their business operations in another
countries to gain maximum income and profitability. This will help them in increasing goodwill
and reputation of an organisation. The respective company try to develop and produce food
which are reasonable at rate which attract large number of customers.
Strategy – It is that strategy which assist in analysing the information and data which are
gathered while situation analysis in order to determine how to meet with desired objectives. They
are target customers on the basis of geographic, behavioural and psychographic segmentation.

This division assist company in reaching with desired customers as per their needs and demand.
Morrisons has been performing well with their sales, expansion and diversification strategy.
They are target different customers according to their need and requirements towards company.
Along with this, they are offer variety of products at affordable and reasonable rate which gain
attention of lower as well as higher class of people.
Tactics – Strategies on marketing expenditure and type of advertising activities, all
should be linked with corporate functions and activities that will assist an organisation to become
successful (Eagle and et.al., 2015). They are adopt different marketing methods which includes
advertisement, Facebook, social media and so more which gain attention of domestic as well as
international customers. They are mainly focus on line of company's ultimate goals achievement
that is help in maximise profits and acquire goodwill. There are some tactics which are used by
Morrisons company are as follows:
 Price – It can be analysed that customers would always like to pay negotiable rate of
their goods which has substitute in the market area. Morrisons are mainly offer such
products which are cheap in rate as compared to their competitors. They are provide
goods at discount price, giving coupons and best reduced priced by the company.
 Product – It is important for Morrisons company is to expand its customer base through
acquisition of more and more customers towards an organisation. It can be done through
make improvement in their current goods and also introduce some new products for
fulfilling customers demands.
 Place – Right market for accurate customers is very essential. Morrisons required to
understand and evaluate right market for their goods. It has been carry out research which
assist in identify market segments and distribution channels through which company are
promote their products. Such as Facebook, Instagram, social media and many more that
attract large number of buyers for acquiring income and profitability.
Action- It define as an important task in the step of Sostac model as it regulates all action
which helps in assigning responsibility and deadlines for certain tasks(Rahim and et.al., 2017.).
It clarifies the goal of a company and makes an effort in indulging it in an appropriate manner.
Action plays a role of evaluating planning in an appropriate manner as to get the goal achieved
(Stallings, 2017). Morrison which focus on building marketing strategies are looking forward in

taking action as to increase the market share. Increase in market share automatically maximize
profit for the company.
Control- Completing a task is not the end of a marketing strategies. Control defines an
enormous impact which showcase every work in clarity by tracking it in an appropriate manner.
Company like Morrison which handles everything in a systematic manner as to get the proper
objective in a given period of time ( Hastings and Stead 2017). The last task of this model is to
control every work perspective by offering an easy way to track the progress of the plan which
helps in future growth of company. This control plan also finds the barriers for a company,
which gives benefit for future purpose as to create strategies in tackling all the challenges in an
efficient and effective manner.
TASK-2
Environmental needs to be undertaking of the effectiveness of the retailers.
Marketing defines as a process by which an organization creates a brand in market.
Working in an area which defines as marketing and logistic plays a vital role in running a
business in an appropriate manner. Morrison works in such areas which can promote and can
create a name in the eye of customers (Rowley, 2016). Company is focusing more towards these
strategies as to cover the cost saving effectiveness across the company. It looks to apply in a very
simplify manner which speed up in making good relationship with the consumers in an
organization. Morrison has achieved a brand name in market as its sales were up 2.8% and earns
profit up to 11% in 2017 market. It gives an enormous impact in an organization as to achieve
profit on every new consecutive years from the last three decades. Sets of marketing goal defines
the careful programmes that continues as per the need creation in market. It simplify every
relation with suppliers and maintain a healthy relationship with the consumers by takingt
feedback about merchandise ans services which company offer.
Arrival of digital marketing increases the competition of stability in a market. It increases
the competing source of income for marketers which clarifies the overall budget for an
organization (Fletcher and et.al., 2017). It gives more effectiveness in customer engagement as to
provide direct interact to its customers. Marketing has forwarded a move towards one-to-one
interaction which focus on a particular need and want. These analyses gives the proper future
need in market and can forecast the future of a dynamic situation in market. Using every media
platform and continue market the business product and services across every segmentation of an

individual. Morrisons is more focus in crediting 'value for money' as to get the word of market
which creates a goodwill in the eye of consumers.
Investment in various sector treated as a pillar for an organization. It gets an impact for
long run as to give a proper growth with an appropriate working style adopted in a company.
Morrison has adopted a strategy to grow investment in local food-makers who took forward in
creating a market for the company. This works on switchboard profit model as to create a one-
stop market for an organization. Duplication has no role in this business as it has more local
merchandise who combines a brand name to create a one-stop market for consumers. There are
many other strategies which a company need to adopt as to create a road map for future growth.
In the year 2017, Morrison worked in adding varieties which has reached to 750 local items and
250 British suppliers which boost-up the sale in market (Salvo, 2015). The forces of demand and
supply of a product has increases and market gets a tight bond with the brand because of taste
and preferences. The way demand increases, consumer look more forward in buying local
product which rises from 7% to 68% from the last year of demand.
This effectiveness change in market gives an enormous effect in an organization. It
clarifies all aspect and continue to drive the same game plan for future growth. It focus on local
food item and offer it to consumers which increases demand and maximize profit for the
company. Morrisons’ narrative has to focus on brand creation which immersed into large scale
industry. It focus on getting a centred image around authenticity and provenance about its
merchandise and services.
Morrison's supermarket adopted three important strategies as to guide every individual to
work along with it. Value-keeping cost low focus on ensuring the competitive atmosphere in an
organization which create an impact on consumer's mind as to fulfil every goal in an appropriate
manner. Price sensitivity plays a vital role among consumers as to get the stability in market for
long run (Shaw, 2016). This can be possible if the best prices are to be offer to the consumer and
help in maximizing profit for the company.
Quality of offering fresh food in market gives an impressive impact in market. Vertical
integration plays a vital role in it as it manages every aspect of a business function internally and
frame a perfect scenario of doing work in an appropriate manner. Meat processing, fresh food,
and other fresh vegetables showcase an image in market.

TASK-3
Current marketing strategy used by Morrison in UK, and in the international market.
Marketing strategy frame by keeping the business capabilities in mind and to focus on
resources available in an organisation as to offer to the consumers. An organization lead the task
which depends on the promotion of a product on a definite specific market segmentation. It is
long process which combine of all various arrangement related to advertising, distribution,
pricing and other relationship with consumers (Dinnie, 2015). It examine every market
positioning, identifying specific market segment and maintaining marketing mix in an
appropriate manner as to fulfil every demand of market perfectly. Morrison has extended its
market across the borders which has a positive impact on company, but if it decided to take
place in Canada then it took a an enormous efforts to handle various challenges. Approaches are
many which treated as a strategy in marketing the product, some are beneficial for awareness and
some gives stability in market.
A position that defines as a permission to an association to get an innovative ideas as to
run the restricted asset in market by increasing demand among consumers. Marketing strategies
which are adopted by Morrison and has achieved an enormous growth in market which is as
follows:-
People oriented marketing- Morrison works on taste and preferences of consumers. It
treated as a king to its consumer which shows how the consumers are more important for the
company. Consumers are more focus on varieties and always works on it by adding local product
in its brand and increase the market share in an appropriate manner (Eastman, 2017). The cost
which company put on its product is what a company give up as to get it in return. Strategies are
framed on the basis of its pricing which are offering in the market. People oriented approach
showcase a positive impact for the long term benefit and help in identifying the need of a
consumer by designating strategies according to it. Company are more into setting prices which
looks reasonable for market as to create stability among consumers.
Reward System Strategies- Strategies are mainly focus in satisfying the need and wants
of a consumer and maintain a decorum in between employees working in company. Rewards are
many which retain a consumer for long term period and offer various unique cards such as bonus
cards, loyalty cards and many different other benefits which an organization offer to its
consumers (Worth, 2018). The main focus of a company is to retain its customers in a way as to

get the maximum profit from a market. Companies which focus on working from the point of
view of a consumer makes every effort in indulging more and more consumer for future growth.
Entering into an international market a company faces many challenges in the form of
Political, economy, social, technological, environmental and legal challenges. These challenges
creates a barrier for the growth of a company in establishing market in new country (Worth,
M.J., 2018). Marketing strategies which Morrison has adopted marketing strategies such as
people oriented and reward system, both are much beneficial as to to enter in international
market as it talks of consumer taste and preferences which directly impact for future growth in a
market.
International market also prefer a company which take care of its customers in an
appropriate manner. Both the strategies are customer centred and has a positive impact for the
growth in future. Business like Morrison entering in market of Canada gives more profit if it
works on same strategies as both are customer centric and makes a relationship for long term
stability. Canadians are more in favouring companies which facilitates unique services and
attractive discounts and both the strategies defines the same which finds the taste and preferences
of an individual. Morrison has an image in market which automatically creates a brand and
maintain a goodwill in market, this image is much beneficial while entering in new market as
stability creates awareness.
CONCLUSION
From the above mentioned report, it can be analysed that practice of marketing creates a
brand in the eye of consumers. It creates an awareness in market about the merchandise and
services which a company offer and maintain a stability in market. Marketing has a vital role in
creating need in market which showcase every product feature and develop a perceived value in
the eye of consumers. Customers are the king of a market and focusing in dealing with consumer
centric approach is much beneficial as to create a market share. Extending business
internationally may give challenges in the form of political, economic, social, technology,
environment and legal cases but when it talks of strategies then consumer oriented approach is
much beneficial for the growth of a market.

REFERENCE
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