Strategic Marketing: Market Audit and Objectives for Yorkshire Tea

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:
1