Starting a Business and Fundamentals of Marketing

STARTING A BUSINESS
AND FUNDAMENTALS OF
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
ASSESSMENT 1.............................................................................................................................3
About Company...........................................................................................................................3
Overview of proposed plan..........................................................................................................5
External Environmental...............................................................................................................6
Competitive Advantage...............................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing is the best way to promote the business by using effective tools and techniques
and in the same way, the report will help to determine the importance of marketing. The chosen
firm for this report is Morrison which is UK based retail firm that provide range of products and
services to their customer. Further, report will describe the business idea which is offered by
Morrison i.e. to launch a herbal make-up kit containing Foundation, Concealer and Primer.
Further, report will develop a business idea which includes goals, vision, objectives and
background and expertise. Further, report will describe the internal and external environment of
the company by using SWOT and PEST analysis. Moreover, report will describe competitive
advantages by using Porter generic strategy.
ASSESSMENT 1
About Company
Morrison's has been operating in UK since 120 years and is one of the top food and
fashion retailers in the country.
Vision: The vision of the company is that “Old stakeholders should enjoy and new ones wish to
join.” and they try to fulfil their vision by the variety of products that they produce.
Objectives: The objectives of the company is to become a leader of the retail industry and make
the products easily available and accessible to the majority of the targeted customer segment
(Jazayeri and Park, 2019). Addressing the needs and wants of the consumers by integrating them
with the recent technological changes and modifications in the industry, the company tends to
modify themselves with changing environment.
Goal: The goal of the Morrison's is to become a world leader in the retail market segment by
constant innovation and meeting the changing needs and desires of the customers so that every
requirement can be fulfilled at Morrison's.
Background and Expertise: The company was first started and an egg and butter stall and with
time the company began to expand itself in the entire United Kingdom as the convenience stores
which ultimately led to the establishment of the company as a successful retailer (Envick, 2018).
Their expertise lies in the fact that they are able to cater to multiple wants of the consumer by
providing an assortment of product.
SWOT: SWOT Analysis helps in analysing the internal environment of the company and
therefore can be used to analyse the current operations of Morrison's: