Strategic Marketing: Market Audit and Objectives for Yorkshire Tea

This report provides an overview of strategic marketing for Yorkshire Tea, including a market audit and identification of key objectives for the marketing plan. It covers market size and trends, competitor analysis, macro and micro economic forces, customer analysis, and stakeholder analysis.

Strategic Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Market audit................................................................................................................................1
-Market size and trend data.........................................................................................................1
-Competitor analysis...................................................................................................................1
-Macro and micro economic forces affecting the organisation...................................................2
-Customer analysis......................................................................................................................3
-Stakeholder analysis..................................................................................................................3
Identification of key strategic marketing objectives for the marketing plan...............................4
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Strategic marketing is a overall procedure that is consist various components such as
planning, implementing and developing that used to obtain better competitive advantage from
aggressive competition. In this all the necessity decision are taken by business in order to
simplify and direct standardised objectives and target (Beirman, 2020). The following report is
based on Yorkshire Tea that is a black tea business which is blend and established by Bettys &
Taylors group. The report consist of market audit and key strategic marketing objectives for
marketing plan.
MAIN BODY
Market audit
-Market size and trend data
Yorkshire Tea has performed its manufacturing in Harrogate and it is overtaken Tetley
and with this they have become the second largest brand of tea in UK market (Yorkshire tea
expands market share, 2017). The brand value of Yorkshire Tea is 22.9% and 72% standard
black tea at UK household. As the time passes it get decreases all across different category as
consumers has widen its repertoire with hot and cold drinks. The growth of business is driven in
sustained direction as by switching from other brands of tea. On the other there growth is drive
by doing all the right things in proper format.
-Competitor analysis
It is an analysis that assist to develop strategy through which competitors products and
services are identified so as to design better strategies by which sales and profit margin is
increases. Yorkshire Tea has different competitors such as Harney and Sons, Tazo, Dilmah, The
Republic of Tea, PG tips and many others as well (Chernev, 2018). Yorkshire Tea is the only
brand that is spotted in top 10 brands of FMCG and score higher brand image, quality, purchase
intent and its reputation as well. The brand share of its competitor is decreased in terms of sale
and profit generation that is as explained below as:
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-Macro and micro economic forces affecting the organisation
Swot analysis is used to measure micro forces of economic and also assist to calculate
both strength and opportunities and as furthermore explained below as:
Strength Yorkshire Tea has loyal expatriate that is used to seized or promote better
image of business (Hollensen, 2019). The local market on East Coast provide
more opportunities as product is distributed in higher quantity that reduces
transport cost.
Weaknesses The company has to pay higher shipping overseas so that selling price is varied
as it is higher in Australia as compared to UK. The maintenance of distribution
channel is quite difficult to manage.
Opportunities Yorkshire Tea uses decentralised form in order to manage its operation and
with this effective decision making is addressed by maintaining clear and
constraint focus about competitor's strategies.
Threat Yorkshire Tea has hired international brand manager to dealt with Australia
oriented market. In this amount of investment is increases by keeping better
flow of production at initial stages.
PESTLE analysis: It is also known as macro environment factors under which different
components is analysed that has direct impact over business performance and productivity.
Furthermore it is as explained below as:
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Illustration 1: https://www.marketingweek.com/how-yorkshire-tea-became-one-of-the-top-
uk-brands/

Political The UK landscape is more open and stable that brought more opportunities for
SME like Yorkshire Tea. In this better outcome is developed in effective mode
as government also make better support to develop more sales and higher
profit (Hunt, 2018).
Economic The economy of UK is more stabalise by which average growth rate is
increases with 3.4%. But due to Brexit and COVID, GDP has been affected in
negative manner that develop unfavoured conditions for exchange.
Social The East coast market attain higher demand about consumption of black tea
and with the cluster of more cities retail value and its prospect is increases in
repetitive basis.
Technological The technical advancement is increases as most of customer’s uses internet
services and also connected with broadcast media by which Yorkshire Tea get
different channel to make suitable connection with customer’s.
Legal Yorkshire Tea follows all the legalities while managing and controlling tea
plantation along with this also offer adequate wages to their staff as well.
Environmental In order to manage environment change Yorkshire Tea ensure that surround
doesn't get harmed by plantation thus better quality pesticides are used.
-Customer analysis
The customer's has a lot of option in marketplace by which Yorkshire Tea measure
reposition as a drink product. In this business has decided to develop certain strategies by which
traditional tapping of promotion and advertisement is processed. In this they influenced its
customer's to consume black tea on daily basis (Sahaf, 2019). In today's scenario most of
customer's are attracted towards other drinks that somehow reduces the profit share and market
acceptability of business. Thus Yorkshire Tea design various strategies that is used to grab
attention of customers in easiest manner.
-Stakeholder analysis
Yorkshire Tea is a family business thus for them stakeholders are those who make their
contribution towards success and growth of business (Our vision and values, 2020). In this
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family stakeholder has worked with the vision of working together so that better prosperity and
pride is processed on continuous basis. Prosperity: Yorkshire Tea has committed towards remain independent and induce
strategies to endure economy of scale. People: In the supportive usage of stakeholder model more values and higher rewards are
offered fairly.
 Product: Yorkshire Tea always care about to maintain quality and suitable customer
service supply.
Identification of key strategic marketing objectives for the marketing plan
The marketing plan is blueprint that is developed to achieve all the standardised goals and
objectives within certain period of time (Tafesse and Wien, 2018). There is few key strategic
marketing objectives of Yorkshire Tea and it is as explained below as:
 In order to increase sale Yorkshire Tea develop various strategies and policies as per
according to customer's demand and requirement.
 Yorkshire Tea closest competitor is PG Tips thus company is looking forward to enhance
demographic consumption by characterising even distribution.
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CONCLUSION
It has been concluded from above report that strategic marketing is an essential aspect
that is selected by the business while spreading more information about offered products and
services in competitive marketplace. In this business has analysed market audit that assist to
develop key objectives under which appropriate marketing plan is developed in timely basis.
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REFERENCES
Books and Journals
Beirman, D., 2020. Restoring tourism destinations in crisis: A strategic marketing approach.
Routledge.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Hollensen, S., 2019. Marketing management: A relationship approach. Pearson Education.
Hunt, S.D., 2018. Advancing marketing strategy in the marketing discipline and beyond: from
promise, to neglect, to prominence, to fragment (to promise?). Journal of Marketing
Management. 34(1-2). pp.16-51.
Sahaf, M.A., 2019. Strategic marketing: making decisions for strategic advantage. PHI Learning
Pvt. Ltd..
Tafesse, W. and Wien, A., 2018. Implementing social media marketing strategically: An
empirical assessment. Journal of Marketing Management. 34(9-10). pp.732-749.
ONLINE
Yorkshire tea expands market share, 2017. [Online]. Available through:
<https://www.insidermedia.com/news/yorkshire/yorkshire-tea-expands-market-share>.
Our vision and values, 2020. [Online]. Available through:
<https://www.bettysandtaylors.co.uk/about-us/our-values/>.
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