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Principles and Practice of Marketing- Final

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Added on  2020-10-23

Principles and Practice of Marketing- Final

   Added on 2020-10-23

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Principles and Practice ofMarketing- Final
Principles and Practice of Marketing- Final_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1BACKGROUND OF ORGANIZATION .......................................................................................1TASK 1............................................................................................................................................1SOSTAC model to marketing strategy used by organization ....................................................1TASK 2 ...........................................................................................................................................7Effectiveness of SOSTAC strategy used by company ...............................................................7TASK 3 ...........................................................................................................................................8Implementation of marketing strategies in international market ...............................................8CONCLUSION .............................................................................................................................11REFERENCES .............................................................................................................................12
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INTRODUCTIONMarketing is the study of management and exchange the relationship with consumerthrough providing the goods and services. For that, there are many principles and practices ofmarketing such as consumer retention, research and development, promotional mix andmarketing mix and so on (Truong, 2014). Therefore, marketing is more beneficial for increasingsales and profits of the business. This report is based on Sainsbury which is the leadingsupermarket in the United Kingdom. This study will explain SOSTAC model to marketingstrategy and evaluate the effectiveness of current strategy needs for expand their business outsideUK. It will extent current marketing strategy utilised by supermarket in the UK. BACKGROUND OF ORGANIZATION Sainsbury is the second largest supermarket in the UK. It was established as a partnershipin 1869 in London. Company is beginning as retailer of fresh food and expanded into packagedgroceries like tea and sugar. There are 608 shops and 806 convenience shops in the worldwide.Also, Sainsbury run an internet shopping services branded as “Sainsbury Online”. They alsoprovide Gift Card. Gift vouchers and food tokens with credit and value which can be spent at theshops of Sainsbury. In order to that, the supply chain of company operates from 13 regionaldistribution centres with two national distribution centres for slower moving products and twofrozen food services. Sainsbury's Bank, Sainsbury's Energy, Argos, Habitat, Nectar etc. aresubsidiaries companies of Sainsbury. In relation to that, there are large stock approximately30000 lines of which 20% are own label products. There are 186900 people are employed in theSainsbury supermarket. Now the company have decided to expand their business outside UK thatis India. TASK 1SOSTAC model to marketing strategy used by organization SOSTAC MODEL:It is the marketing model stands for situational analysis, objectives, strategy, tactics,action and control. This model can be used by Sainsbury for applying the commercial situationand expanding their business outside UK that is India. It is the expansion of SWOT analysis thataids businesses get ready for marketing campaign (S.O.S.T.A.C- Situational Analysis, Objectives,Strategy, Tactics, Actions,Control.2018). SOSTAC Model concentrated more on1
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