Marketing Strategies and Principles

The assignment discusses the importance of marketing strategies and principles in today's business environment. It highlights the need for organizations to adapt their marketing approaches to meet changing customer needs and preferences. The document covers various aspects of marketing, including social marketing, consumer sovereignty, and promotional mix, providing a comprehensive overview of the subject.

Principles and Practice of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
TASK 2............................................................................................................................................5
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is the process through which information regarding a product and services is
communicated with targeted consumers and an offer is made to them for purchasing offered
product for some consideration. Merchandising is important for each business unit because it
helps to exchange the products and services to consumers and communicating necessary
information that is required to make sales. Principles of marketing consist of four P's which are
product, place, price promotions. Marketing strategy will be effective when each principal of
marketing will be used correctly and gives maximum output. To understand the concept of
marketing Waitrose and partners chain of supermarket is taken (Aubin, Luquiens and Berlin,
2014). This organisation is founded in the year 1904 by Wallace Waite, Arthur rose and David
Taylor. Waitrose's headquarters are situated in Bracknell, Berkshire, United Kingdom. It deals
with food products and employee approx. 55000 employees. This project consists of promotional
techniques and theories applied to past and current marketing related to marketing practices.
TASK 1
Waitrose is a chain of British supermarkets that possess largest employee owned retailer.
It is seen that Waitrose is taking risk in relation to selling its products on various occassions as
dealings is done in variety of food products. It deals in variety of food products and a premium
range of products is introduced by business organisation. Waitrose organisation possess approx
353 stores across United Kingdom and acquires 5.1% market share in food products. This makes
it sixth largest retailer of groceries in UK.
A combination of various methods used for promotions of products is termed as
promotional mix. It is used to promote products of an organisation by considering variety of
resources that are available. It is referred as mixture of various means to be used by Waitrose
organisation to create, hold and addition for demand of goods and services. The several tools that
facilitates the promotion objective of business organisation in collective manner then it is termed
as promotional mix (Corley, 2014).
A mix of various tools that helps to market the products such as advertising, personal
selling, sales promotion and direct marketing is a strategy of promotional mix. These all
elements make promotions a mix that gives maximum results. Promotional mix is described as
follows-
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 Advertising: It is defined as most effective manner of communicating information to
targeted consumers. This is paid form of impersonal, open connection about causes,
goods and services, organisation, people and places through means such as direct mail,
telephone, print media, internet and television. Through advertising the marketers try to
build a pull strategy, that stimulate for using the product offered once to check quality.
Substance is communicated with fascinating artwork of the products and service to grab
consumer’s attention. For advertising Waitrose organisation publishes “Waitrose Food
Magazine” available in all the branches while stocks last (French and Russell-Bennett,
2015).
 Personal selling: This form of promotion is one of the traditional method used by
business organisations that provide chance to connect with consumers. Personal selling
involves interaction between representative of organisation and targeted consumer in face
to face manner. Personal selling helps in increasing personal touch with consumers and
no miscommunication of information takes place. Waitrose depicted that personal selling
helps in promotional mix and gives buyers an opportunity to make a fair choice of the
product used.
 Sales Promotion: A promotional technique used by businesses for short term that will
induce interested conusmer to buy the offered product in a specified period of time. Sales
promotions scheme are introduced by businesses at the time of festivals. This helps in
boosting sales at a given period of time by offering limited time discounts, payback
period, coupons etc. Through sales promotion schemes profits of organisation are
increased by generating new consumer base and increased sales. Waitrose uses
promotional strategy's like discounts and redeemable coupons on next purchase that helps
to boost sales and attract large consumer base (Hamilton, 2012).
 Public relation: Generating a positive in the consumer market is a well-planned business
strategy of each business organisation to sustain in long run. To make relation with
general public business organisations arranges various programmes and campaigns that
helps in generating link with general public. For businesses public means employees,
consumers, suppliers, shareholders, government and society as whole. To manage
effective public relation by Waitrose a plan for public management is designed by
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business organisation. This plans defines various strategies and steps taken by Waitrose
to generate good public relation and increase good relation with public.
 Direct Marketing: Technology made it simple for each business organisation to reach to
its targeted consumers without intervention of any intermediary or any paid medium.
Sending mails, text messages are some common tools that is used for direct marketing.
This helps consumers to directly informed by company and chances of false information
gets reduced. New offers, special offers and various discounts are communicated with the
targeted consumers. To generate direct marketing, information for each visitor of the
store is taken by Waitrose and recorded in the system. On the basis of which direct
marketing is done to attract large consumers and providing them timely information. For
Example- Waitrose send SMS to its members whenever sale is introduced or any
discount is offered (Promotional Mix, 2019).
(Source: Promotional Mix, 2019)
Promotional techniques in order to communicate with the target market can be directly
and indirect manner. Consumers are not ready to buy products that are served by Waitrose if they
are not informed about availability of the product. Different methods of marketing are used for
different purposes. A strong set of promotional techniques used by Waitrose helps in positioning
the company in favourable light and makes sustainable future. Various promotional techniques
used by Waitrose are as follows-
Social media promotion: In today's business scenario social media plays important role
to promote various products and services offered by business organisation. Websites such as
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Illustration 1: Promotional Mix, 2019

Facebook, YouTube provides a platform to businesses to market their products and services to
large number of consumer group at a time (Huang and Rundle-Thiele, 2015). This is direct
marketing at its best and social media provides information to consumers who are widespread
and provides different prospective to different consumers. Social media is not just a platform that
provides information this is more than that and serves as a medium of marketing that can
influence large number of consumers at same time. Social media gives chance to rank products
and services provided by Waitrose regarding their quality. Through social media more personal
tough with the company is generated. This can help Waitrose to generate an image with is more
familiar to general public.
Mail order marketing: Consumers who are targeted to sell offered product are not ready
initially to buy each and every product offered. Information that is generated with the help of
consumers help in targeting consumers and provides clue regarding trends and preference of
consumers. In mail order marketing a large consumer segmented are attracted in one time by
promoting products through catalogue, providing information in newspaper and in monthly and
weekly magazines (Jobber and Ellis-Chadwick, 2012). Food products that are served by
Waitrose company is trusted by large number of consumer group. Serving a new products free
with already existing products and giving consumers a chance to taste that new product is a
promotional technique used by Waitrose company while introducing a new range of product.
Point-of-sale promotion and End-cap marketing: These both are ways of selling and
promoting items in store. Waitrose deals in supermarkets where large variety of products are
available to consumers. Products that are promoted by business organisations is positioned in
such manner that makes it easy to access the products by consumers. Point-of-sale is a way to
promote new products in Waitrose organisation. This means new products that are promoted by
organisation are kept near to checkout points. This grabs attention of consumers and product
come in the notice of consumers. Both the strategies of promotions and marketing is used by
Waitrose to promote any new product or to increase sale of any existing product.
Consumer Referral Incentive Program: This is one of the trending marketing
technique this is used by various business organisation to enhance large consumer base.
Consumer referral incentive program helps business entities to generate new consumer base
through attracting them on the suggestions of old ones. Current consumer is offered with free
products, big discounts and cash rewards for recommending Waitrose to buy various products
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(Kumar, 2017). Adopting this promotional strategy helps Waitrose to enhance its consumer base
by adding more and more new consumers. Together with this existing consumers are attached
with the organisation. This helps in increasing a brand image and goodwill is created in long run.
Causes and Charity: Promoting products offered by Waitrose organisation while
supporting a cause can be an effective promotional strategy. This on one side helps country to
grow and generate positive image of company for contributing in charity. A certain share of
profits made by Waitrose is donated as charity and consumers build an image that usage of a
product helps them in contributing for some good cause. Waitrose is large business organisation
and use charity for good cause as promotional strategy as two aims are achieved at a time. One is
helping others by promoting business organisation (Lefebvre, 2012).
Customers Appreciation Events: Event inside stores of Waitrose for consumers with
free refreshments and door prizes draws consumer’s attention. Consumers are invited to visit the
store and no compulsion of buying any product make it attractive technique of promotions. This
method of promotions brings not only current consumers into stores but also potential consumers
also visit into the store. In this event Waitrose displays its new products that specifies usage,
quality and sustainability of products offered. Large consumer base is influenced to try the
displayed product at least once. Setting up convenient product displays before the launch of the
event will ensure that products that are promoted is highly visible.
After-Sale Customer Surveys: Providing after sale services to consumers is promotional
strategy used by Waitrose that puts consumer’s satisfaction first while leaving doors open for
various promotional strategy. Consumers are communicated with telephone or through mails for
reviewing quality of products offered by Waitrose. When survey is conducted information
regarding consumer satisfaction level and needs for improvement is asked that helps in
improving quality of goods served (Najev Čačija, 2013).
TASK 2
Business organisations at market place moves ahead with a strategy of maximising sales
and serves products and services in most attractive manner to make sure that products are
purchased by maximum number of consumers. Consumers are well aware regarding quality of
products and service offered in the products and its benefits. Waitrose is an organisation that
possess supermarkets and deals in food products. Marketing theories and implementation for
Waitrose is as follows-
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AIDA: This is a marketing strategy used by business organisations and implemented in
four stages. That are attention, interest, desire and action. In this marketing theory various stages
are described in which company needs to attract targeted consumers. The AIDA model has been
in use since late 19th century. Four individual stages are involves in this theory and next stage is
jump on completion of previous step.
(Source: AIDA Model, 2019)
 Attract Attention: As per this marketing theory a product that is offered by Waitrose
organisation must attract the consumer's attention. When brand image of company is high
helps in garbing attention of public at large. Example- using graphics and video clips to
promote products (AIDA Model, 2019).
 Maintain Interest: In the first phase, the attention of the potential customers is material,
consumers are induced to generate their interest in product offered. Generating interest in
the benefits of product or service and encouraging interest of buyer to start to research
further.
 Create Desire: When interest of targeted consumers is created in the product offered by
Waitrose then it is sellers task to induce the interested consumers to generate desire to
buy the product. Advertisement of the product itself creates desire for the products
offered by Waitrose.
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Illustration 2: AIDA Model, 2019

 Take Action: This is the last step of AIDA theory of marketing. As per this step when
consumer shows its interest for the product and that interest become desire then it must
be transferred into action of purchase. This can be done through moving a buyer to
interacting with company and taking the step necessary to purchase such as downloading
an app, making a call for order etc.
The AIDA is sales marketing strategy used by business organisations over last 100 years
and is still effective (Rundle-Thiele, 2015). Beyond this AIDA is used by Waitrose in and
analysing the effectiveness of movement and provide required information for analysis of
Advertising messages. Taking each step one by one helps Waitrose to have effective marketing
and sales can be enhanced over a period of time.
AIDA model of marketing is used as a tool for making sales but in today's competitive
business environment general model of AIDA is not sufficient for marketing. As more and more
emphasis is given to advertisement that is attached emotionally with the targeted consumer
group. It is seen that recognising psychology of consumers and advertising in that manner will
attract large number of consumers for Waitrose. This emotional element does not play any role in
AIDA marketing theory.
The Communication Model: Marketing communication is the process through which
information that needs to be transferred by businesses to its consumers will be transferred to
them in simple and attractive manner that can attract them and is easy to understand.
Communication is used for selling through the devices of promotional via, advertising, publicity,
salesmanship and sales promotion. In marketing marketer is the source who desire to promote
the product. Marketer delivers a message to a receiver, who is target consumer segment group.
When message of the seller is received by purchaser and they get convinced then sales are made.
On the other hand, feedback is the reverie flow of communication to the marketer (von der Heidt
and Quazi, 2013). It is a strategy used by a company or individual to reach their target market
through various types of communication. Marketing communication includes advertising, direct
marketing, branding, packaging, sales presentation, trade show appearances etc.
Waitrose is a large business organisation dealing in marketing and operate its business
functions through supermarkets. Communication model is used by Waitrose to manage its
internal business environment and also to communicate with targeted consumers. As any
information that needs to be communicated with targeted consumers for making any offer a
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proper communication model is followed to transfer required information in most effective
manner. This communication model will be used in Waitrose on continuous basis to operate
business activities and manage effective communication between business and its consumers.
In the process of marketing communication various elements are involved that makes
communication simple and helps in transferring correct information to large number of
consumers. Marketing communication process involves-
Sender: The party or person who is sending the message to other party.
Encoding: When information is communicated it is transferred in some meaningful
symbols that needs to be encoded.
Message: Information that is transferred in some symbols is termed as message.
Media: Channel that is used by sender to transfer the message to the receiver is termed as
media.
Decoding: Converting the encoded symbols in the form that is easy to understand is
termed as decoding.
Receiver: Sent message is received by another person is called receiver.
Response: Reaction that receiver of message shows after receiving message is termed as
response.
Feedback: The portion of response of the receiver send back to sender then it is termed
as feedback.
Noise: Any disturbance in the process of communication due to which receiver is not
able to understand the message or understand it in wrong sense then it is called noise.
An effective process of communication is termed as most favourable marketing tool.
While initiating communication a targeted consumer will be selected by Waitrose organisation.
Objective of communication must be clear as this will bring effectiveness in the process. Before
communicating what will be communicated and structure of message and media of
communication will be selected by Waitrose organisation. Communication is termed as most
effective tool in the process of marketing (Wood, 2012). As all ideas and information that is
available with organisation requires a proper system of communication. In the process of
marketing used by Waitrose to inform targeted consumers regarding various products and
influencing them to buy product effective communication system will be used.
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Waitrose is large business organisation that have effective communication channel that
helps to keep touch with large number of consumers. In the process of communication television,
social media, newspapers, messages, emails and various other forms are used. All are very
effective and organisation needs to update this communication channel on continuous basis to
maintain effective communication system.
CONCLUSION
From above project report it has been concluded that marketing is very important for all
kind of organisations. Marketing provides a way, which helps in increase sales of products and
services. In present business environment different organisation uses different marketing
strategies according to their own wants and needs because working conditions of all
organisations are not same. In addition, marketing strategies should be up to date because
business environment is not constant. It changes according to the political and economic
changes are made in the system. So it is necessary for all companies to make their marketing
strategies in an innovative way and maintaining it up to date to achieve competitive advantage.
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REFERENCES
Books and Journals
Aubin, H. J., Luquiens, A. and Berlin, I., 2014. Pharmacotherapy for smoking cessation:
pharmacological principles and clinical practice. British journal of clinical
pharmacology. 77(2). pp.324-336.
Corley, T. A. B., 2014. Marketing and business history, in theory and practice. In The Rise and
Fall of Mass Marketing (RLE Marketing) (pp. 109-131). Routledge.
French, J. and Russell-Bennett, R., 2015. A hierarchical model of social marketing. Journal of
Social Marketing. 5(2). pp.139-159.
Hamilton, R., 2012. Consumer sovereignty as ethical practice in food marketing. In Food ethics
(pp. 152-167). Routledge.
Huang, Y. T. and Rundle-Thiele, S., 2015. A holistic management tool for measuring internal
marketing activities. Journal of Services Marketing. 29(6/7). pp.571-584.
Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th).
McGraw-Hill Higher Education.
Kumar, V., 2017. Integrating theory and practice in marketing.
Lefebvre, R. C., 2012. Transformative social marketing: co-creating the social marketing
discipline and brand. Journal of Social Marketing. 2(2). pp.118-129.
Najev Čačija, L., 2013. Fundraising in the context of nonprofit strategic marketing: Toward a
conceptual model. Management: journal of contemporary management issues. 18(1).
pp.59-78.
Rundle-Thiele, S., 2015. Looking back and moving forwards: An agenda for social marketing
research. Recherche et Applications en Marketing (English Edition). 30(3). pp.128-133.
von der Heidt, T. and Quazi, A., 2013. Enhancing learning-centeredness in marketing principles
curriculum. Australasian Marketing Journal (AMJ). 21(4). pp.250-258.
Wood, M., 2012. Marketing social marketing. Journal of Social Marketing. 2(2). pp.94-102.
Online
Promotional Mix. 2019. [Online]. Available through:
<https://www.marketing91.com/promotional-mix/>
AIDA Model. 2019. [Online]. Available through:
<https://en.ryte.com/wiki/AIDA>
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