Report on Marketing Principles - Asda
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Added on 2020-01-28
Report on Marketing Principles - Asda
Added on 2020-01-28
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Marketing Principles1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................41.1 Marketing process..................................................................................................................41.2 Advantages of marketing orientation.....................................................................................5Task 2...............................................................................................................................................62.1 Environmental factors that impact on marketing decisions...................................................62.2 Segmentation criteria to be used for products in different market.........................................72.3 Selection of targeting strategy to be used by Asda................................................................72.4 Buyer behavior affect on marketing activities of Asda.........................................................82.5 New positioning strategy for Asda........................................................................................9Task 3...............................................................................................................................................93.1 Methods to promote new products to take competitive advantage........................................93.2 Different distribution methods.............................................................................................103.3 Price determination affect on marketing objectives and market conditions for developingnew products..............................................................................................................................103.4 Various promotional activities to reach out set goals..........................................................113.5 Additional components to extend marketing mix for Asda.................................................11Task 4.............................................................................................................................................114.1 Marketing mixes plan for two different market segments...................................................114.2 B2B vs. B2C........................................................................................................................124.3 Differences between domestic and international marketing................................................13Conclusion.....................................................................................................................................13Reference.......................................................................................................................................142
INTRODUCTIONMarketing is key element to run any business organization smoothly. It aims to gaincustomer satisfaction with increasing profitability of entity to sustain product value incompetitive market. The present report is based on understanding marketing strategic tools ofAsda group UK. It is one of the wide spread retail sector company that provide groceries andgeneral merchandise to large number of customers. In this regard, different marketing processand advantages for marketing oriented strategy can be understood here. Environmental factorsthat impact on organization's business activity including effective segmentation is obtainedthrough this study. However, learners are able to understand buyer behavior and its impact onfirm's reputation in market. Different tools and techniques to launch and advertise productsincluding maintaining attraction of consumers can be recognized. Apart from this, variancesbetween domestic and international marketing including business activities is to be understoodthrough the present report. Asda Group UK:- BasesStructureIndustry Retail sector organizationNumber of Stores/branches in global marketNear about 600Goods and services provided by AsdaGroceries, general merchandise, economicfacilitiesNumber of workersAround 180,000Slogan“Save money. Live better”.Asda is largest supermarket chain of UK for producing grocery items and food productsin international market. It has various branches across country to fulfill all requirements ofconsumers at high level. However, it is a division of Walmart to expand business entity includingplanning and controlling over transaction. It is one of efficient organization of retail sector placesgood reputation in market. Including this, it performs several type of marketing includingdomestic, online and international for the purpose to increase productivity and profitability ofAsda. Its marketing principles involves analyses of current market position, planning,implementing and evaluating. On the basis of this cyclic stages managers of company makes3
plan for further activities. In addition to this, this entity provides variety of services to makeposition in market as well effective strategies are applied for its entire development.TASK 11.1 Marketing processAs per the given scenario, there is issue occurs regarding productivity for previous fiveyears. Therefore, being marketing manager of Asda, preparing plans for different strategies tomaintain organization's existence and launching new products in market (Leonidou, Katsikeasand Morgan, 2013). Including this, re-position of groceries and merchandises to implementbusiness activities is to be planned. Thus, problem can be solved out by applying marketingprocess that can be described as below:-Analyze problem including causes:- At first, recognizing current situation is required toreduce issue occurs at workplace. Including this, it is necessary for entity to determine reasonsbehind the problem. It can be identified that at present, entity is surviving with this situation dueto imbalanced production and distribution system. Thus, according to given case, issue and itscause are determined which leads to making strategic plans for re-positioning and advertisingnew products in market (Mintz and Currim, 2013). Preparing strategies according to recognizing issues:- After analyzing situationincluding its causes, manager of Asda prepares plan to sustain product value in market. Itinvolves forecasting and decision making for developing strategic plans. In addition to this,various plans and decisions are made related to resource as well fund allocation to reach outobjectives. Thus, evaluation of proper market structure is helpful for strategic plans to implementaction plans.Implementing and critically evaluating the present performance:- under strategic actionplans, it proceed to developing the planned strategies. Moreover, its implementation is valuableto meeting set goals. In addition to this, evaluation of present performance is comprised with lastbusiness activities. In this regard, proper balance is created to achieve targets. It also involvescreating balance between demand and supply as well performance of business organization(Totten, and Cross, 2015). 4
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