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Principles and Practice of Marketing - BRORA
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Added on 2020-11-23
Principles and Practice of Marketing - BRORA
Added on 2020-11-23
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Principles and Practiceof Marketing
Table of ContentsInterim Project ................................................................................................................................3EXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................3QUESTION......................................................................................................................................3Evaluation of effectiveness of retailer’s current.....................................................................9SOSTAC strategy..................................................................................................................9Current marketing strategy used by the................................................................................10fashion retailer in the UK market could be implemented in an international market.........10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12EXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3TASK 1............................................................................................................................................5TASK 2............................................................................................................................................7CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12Interim Project
EXECUTIVE SUMMARYIn this report, marketing strategies, plan policies are studied. There is difference in rolesand responsibilities which are effective and significant for attaining goals and objectives. Asthere are many changes taking place in business environment, so it is essential to make changesin operations. This is significant for creating good brand image in society. There are somechanges in working style, which is relevant and significant for attaining goals and objectives. Incurrent scenario, marketing is one of the essential functions which requires more attention. Thisgives direct impact on organisational sales and revenue. This report is based on ''BRORA'' whichis fashion retail outlet in Convent Garden UK. In fashion retail sector, change in trends are takingplace very frequently, so when new product is launched by managers of ''BRORA''. ConventGarden is in West End, London's main threater and entertainment area. This is the place of centreof attraction for tourist visit UK. Marketing is important in current market because it provides actual knowledge related toproduct and services. These days trends of marketing is important . There is requirement of fundsfor promotion, so this is relevant for attaining good image in industry. These days, people usemore technology, so different search engines are used to known about brand. Customer investtheir money after proper analysis. Hence if marketing is effective, then this gives goodknowledge about product and hence brand image of ''BRORA'' increases. Marketing is a strategythrough which goals and targets can be achieved. Hence marketing function must be done afterproper analysis. This organisation was established in 1993 to provide classic Scottish Cashmere. Theyprovide collection of clothes which are unique in colours. This has headquarter in Stevenage.This association has specialised in Cashmere, clothes, fashion, knitwear, ladies, male and babywear. Managers of ''BRORA'' use different marketing strategies in order to make changes indemand and services. This is the brand which has good image in mind of customers this givesdirect impact on sales and revenue. They use different sources to market products to customers.This is relevant and significant for attaining good sales. Pay per click adverts, social mediastrategies, SEO and Local SEO, website designing, software and web building, content analysisare some marketing strategies. This is relevant for providing knowledge related to product andservices. Due to change in plans and policies, managers are responsible for providing cleardescription about product and services. With the help of different marketing search engine, it is1
easy to create brand image and know customer demand and grievances. ''BRORA'' providesvarious discounts to customers on different basis such as age, first come first serve, etc. This isrelevant for creating awareness about brand and customers prefer to avail services from''BRORA''. SOSTAC model is used to know strategies which can be undertaken by organisation inorder to deal with changes. This helps to know current position and with different steps actionsare taken in order to attain goals and objectives i.e. good profits and revenue. 2
INTRODUCTIONMarketing consist of activities which are effective and relevant for creating relations,communication with external parties. This is the method of communication, deliveringinformation to customers clients related to product and services. There are some changes whichhas to made. Marketing is the process through which association can create value for theirproduct and services (Cowley, M. B., 2016). Marketing is not one night process, there isrequirement of different techniques through which customers are ware of their product andservices. These days, there is competition, so in order to attract consumers it is essential to makemarketing strategies. This report is based on ''BRORA'' which is fashion retail store in ConventGarden High Street of London, UK. There is competition among retail store, they use variousmarketing practices in order to compete with them. In this report, SOSTAC Model is use toimplement best marketing strategy in order to attain goals and objectives. QUESTIONSOSTAC ModelSOSTAC is a tool which is developed by PR Smith in year 1990. This model is widelyused for business planning and marketing. It contains general strategies of marketing that can beimplemented in several commercial situations. This model is an extension of SWOT analysis thatassists businesses to get ready for campaigns. SOSTAC emphasize more on marketingcommunications and execution stages of process. The structure of model is a simple logic thatdevelops on in-depth situation examination which informs resultant decisions made regardingtactics and strategy. It is a clear logic that allows better decision making and thus, better plans.SOSTAC model is adopted and implemented by marketing experts to numerous particularsituations involves electronic marketing and direct marketing. The process steps have also beenadopted to creation of company business plans and internet security systems (Dokukina, A.,2015). The steps including in SOSTAC model are defined below:Situation that assesses current position of business.Objectives that sets goals or missions for business.Strategy which is an overview of how objectives can be attain. Tactics which is the detail of strategy.Actions that depicts about how to ensure excellent implementation of plan. 3
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