Strategic Marketing Techniques & Tools for Developing Marketing Plan

This report discusses the various marketing techniques and tools that help in developing a strategy which impacts the marketing plan. It also evaluates the risks associated with the marketing plan and provides mitigation strategies. The report concludes by discussing how the marketing plan supports strategic objectives.

Strategic
Marketing
INTRODUCTION...........................................................................................................................................3
TASK 1..........................................................................................................................................................3
1.1 Critically evaluate marketing techniques & tools which helps in developing strategy which impact
marketing plan.........................................................................................................................................3

INTRODUCTION
Strategic marketing is the process of developing different plans in order to maintain difference
from their competitors. Organizations identify their operational strength and weakness and then build
strategy accordingly. It will enhance customer value through analyzing market demand and customer’s
needs. Main aim of strategic marketing is to increase their customer base and provide quality product &
services to their consumer. With the help of marketing mix, manager develop strategy and then able to
take effective decision in order to enhance their operational function. By using various marketing
strategy, organization increase their productivity as well as profitability. It further helps in achieving
business goals & objectives. For the better understanding of this concept, this report chooses Tesco Plc
which is British multinational retailer. This organization deals in general & groceries items and it
provide their services across the world. Tesco Plc established in 1919 by John Cohen in Welwyn Green
City, England. It is the third largest retailer company as per the gross revenue.
This report covers various topics such as market techniques, tools which help the organization to
develop strategy that impact marketing plan. Increase the understanding between marketing plan and
strategic business objectives. In addition, develop a strategic marketing plan which identify high risk
components and provide effective solutions for it. Along with this, develop strategy which helps in
achieving business goals & objectives.
TASK 1
1.1 Critically evaluate marketing techniques & tools which helps in developing strategy which impact marketing
plan
Marketing: It is the process of converting individual into potential customer for the business
through offering attractive products and services. It includes various activities such as research of
market, promotional activities, selling & distribution of goods to the local market so people can reach
easily. Marketing is the broader term where businessman sells their product & services in order to
increase their productivity as well as profitability. It will increase efficiency as well as effectiveness
which further helps in achieving business goals & objectives. In context of Tesco Plc, manager analyzes
market and then develops strategy accordingly.

Marketing techniques: It is a strategy which help the organization to accomplished their goals
& objectives in effective manner. There are various techniques and tools which helps the organization to
develop their plan and strategy which is beneficial and helps in communicating organizational
information to the customers. By using effective marketing techniques business increase their product
demand which further increase productivity as well as profitability. Some of marketing tools discussed
below which can be used by Tesco Plc to support their strategy and it will affect marketing plan.
 Classifies advertisement: Organization use classified advertisement to generate leads and it
indicates the potential customers who show their interest in the posted advertisement. It is one of
the marketing tools which help the business to attract customers through posting their
advertisement on the website or webpage. In context of Tesco Plc, organization can adopt this
tool because it helps in generating leads and also helps the manager to develop their strategic and
take decisions which further impact marketing plan.
 Social media: It is one of the trending marketing tool and technique which is very helpful for the
business to increase their sales through generating interest in the individual. With the help of this,
organization develops interactive relation with customers. Social media include various activities
such as blogging, sharing, posting, tweeting etc. With the help of these activities organization able
to attract more customer and develop strategy according to it. In context of Tesco plc, manager
can adopt various which help in creating their product awareness among the customers.
 Internet marketing: This marketing technique include all the promotional strategy which done
online. Search engine optimization (SEO) and online advertisements are the example of internet
marketing. These techniques help in achieving business goals & objectives in order to develop
strategy which further impact marketing plan. Marketing department of Tesco Plc can use this
marketing techniques to develop strategy which affect the organization in terms of their decision
making process. Manager use this techniques at the time developing marketing plan and it helps
in achieving business goals & objectives.
 Survey: This marketing tool used to analyze current market trend which helps in developing new
product or modify existing products. Survey will be taken as a feedback from customers to take
their opinion or valuable suggestion for the further improvement in the products. Through
conducting survey, manager able to identify marker as well as customer demand which helps in
developing strategy which impact the marketing plan.

 Direct mail: In this marketing tool, company target potential customer in order increases their
product demand. Companies provide their product information to the consumers to make them
aware regarding latest offers and discount. Currently it is the better tool in comparison to digital
marketing. Manager of Tesco Plc also can use this technique to enhance productivity as well as
profitability. It further helps in developing strategy which impact on marketing plan.
 Customer loyalty program: Organization have to conduct loyalty program for the customer
which make organization aware that how frequent customer visit to buy products. It is different
from brand loyalty and it is cost effective strategy. Tesco plc can use this marketing technique to
identify their regular customer which affects the manager’s decision at the time of developing
strategy and it further impact marketing plan.
From the above mention marketing tools & techniques, Tesco Plc used various marketing strategy
such as customer loyalty program, survey, social media marketing, online marketing etc. These tools
helps the manager to develop strategy in order to maximize their profit margin and it impact marketing
plan which further helps in achieving business goals & objectives. Manager of Tesco Plc have to build
their strategy according to market analysis and then modify their plan accordingly.
1.2 Evaluate marketing methodology & approaches that contribute in marketing plan
There are various approaches used by organization to promote their products & services and it
further helps the manager to develop strategy which contributes in marketing plan. Basically there are
two types of methodology such as business to business (B2B) and business to consumer (B2C). Some of
approaches discussed below:
 Paid advertisement: In this type of advertisement organization have to pay to promote their
products information. Company buys space in exchange of promoting their products & services.
It also includes variety such as pay per click (PPC) and Pay per impression (PPI) along with
display advertisement. Tesco can use this methodology to promote their products among the
customers. It is efficient marketing planning approach where users can see the advertisement and
it helps in exploring company’s name among the large audience. Digitalization of market helps
the business to achieving their targets and objectives.
 Relationship marketing: It is called customer relationship marketing where organization
majorly focuses on their customer satisfaction. It is most important to satisfy their customer if
organization wanted to grow in the market and expand their business. For this, manager has to

build marketing plan where they adopt various strategies which improving customer loyalty and
its value. Manager of Tesco Plc can adopt this approach to enhance efficiency as well as
effectiveness of the organization. Relationship can improve by taking customer suggestions and
feedback which helps in improving their existing strategy. In the relationship marketing,
manager develops strategy to improve customer relation and it further contributes at the time of
making marketing plan.
 Word of mouth: It is the most effective approach of marketing which does not required any kind
of investment. When organization leave good impression on people then it will create value for
them. So companies have to make sure that, they treat their customer in well manner through
providing quality product & services which develop good impression. It further helps the
business to attract more customers through their satisfied consumers. So Tesco manager have to
satisfy their through providing effective services and quality of goods. When customer feels
happy & satisfied after shopping then they forward good words to other people which are also a
part of marketing.
 Internet marketing: it is also called cloud marketing where everything happen on internet such
as products is online available and then promote by using various marketing strategy. Promote
their products through internet marketing will help the organization to increase customer demand
and develop their interest in the product. This approach helps the manager at the time of
developing marketing plan. This plan include all the details regarding product promotion which
helps in enhancing demand and it further increase productivity as well as profitability. Manager
of Tesco can focus on internet marking to expand their network.
From the above discussion, manager of Tesco Plc follow various approaches to promote their
product in order to maximize profit margin. Manager focus on above mention approaches such as word
of mouth, paid advertising and internet marketing because it contribute in the marketing plan and further
it will be implemented as per the plan which increase efficiency as well as effectiveness.
Marketing methodology plays very important role and contribute in the marketing plan where
manager analyze every aspect of approach and then develop strategy as per the requirement. Paid
advertisement help the business to get attention of customer and then converted them into potential
customers.

1.3 Analyze the risks which are associated with marketing plan
Marketing plan is a kind of business plan which include various strategy that helps the
business to promote their products & services in order to achieve organizational goals &
objectives. It is blueprint of the company which includes all the promotional strategy along with
specific objectives which is going to achieve within specific time period. Every organization
have fear to face failure in the market and it can related with product, price, promotion, sales,
customer experience etc. At the time of implementing marketing plan, business has to face
various risks which are discussed below
 Brand risk: To maintain their brand value is always on risk due to competition or
chances of failure. Because it can be possible that peoples not like new product of the
company which affect the brand value and their loyalty too. In context of Tesco plc,
manager have to perform very carefully because Tesco is such a big brand name so they
have to make sure that their services and products not let down customer’s expectation.
So manager have to develop strategy regarding brand risk and introduce any new product
after intense research on market and customer demand.
 Product development: At the time of developing any new product, business have to
done huge research regarding current market trends, customer demand and expectation.
Because introducing new product in the market contain hug risk regarding failure at the
time of launching. It also include project as well as innovation risk because consumer like
the product or not, it is the biggest question and developed product has market demand or
not. So manager of Tesco Plc have to evaluate product development risk and it will
associated with the organization at the time of developing marketing plan.
 Demand risk: this risk is about introduced product have market as well as customer
demand. So before developing any plan organization have to ensure that market has that
particular demand. If it is not happen then they have to face failure and it affects the
business in well manner. So manager have to conduct market research to identify
customer needs, expectation, their taste & preference. Manager of Tesco have to evaluate
market condition and demand because it will change any time due to any innovation.
 Price risk: It is the biggest risk for the organization to set their product price as per the
customer’s requirement. Because they have fix price which can meet operational as well
as customer needs. It is a king of war for every business because they have to retain

customers along with product quality. In context of Tesco, they using various pricing
strategy to identify those price range which meet with consumer’s expectation.
Above mention risk associated with marketing plan so manager of the company have to
evaluate these kind of risk before developing any plan. It helps the manager to develop their
strategy according to evaluated risk. It further helps in reducing risk regarding every aspect and
then implements the strategy or plan which maximizes productivity as well as profitability.
TASK 2
2.1 Critically evaluate components of marketing plan and importance of each components which
helps in achieving business objectives
There are various components of marketing plan which helps the organization to achieve
their business goals & objectives. Some of discussed below:
Market research: Initial research of the market is essential for the organization at the
time of developing market plan because here they have to identify current demand of market and
customer. With the help of market research, business identify customer’s needs, expectation,
buying behavior, market size, scope, growth current trends in the specific sector. It helps the
business to achieve their organizational objectives. So manager of Tesco have to conduct market
research before launching any product in the market.
Importance:
Target market: In this components, organization target their most identifies buyers.
After analyzing segments manager have to target specific market or location and then improve
their marketing plan. So manager of Tesco Plc have to target market and then develop their
strategy & marketing plan as per the requirement.
Importance
Positioning: This component plays very important role in the marketing plan because
manager has to decide that how to promote their product which create different perception for
the consumer and set in their mind. Effective positioning of product will consider strength as
well as weakness. For the effective results manager identify customer needs and expectation and

then develop strategy for positioning of product. So these components contribute in the
marketing plan which helps the organization to perform their task in order to achieve strategic
objectives. It further increases productivity as well as profitability of the company.
Importance
Competitive analyses: At the time of producing marketing plan, manger has to evaluate their
competitors and then identify the difference of their products & services to their competitor.
Importance
Market strategy:
Importance
Budget:
Importance
Matrix:
Importance
2.2 Mitigation strategy for high risk components of marketing plan
2.3 Develop marketing plan to achieve strategic objective of the organization
TASK 3
3.1 Discuss how marketing plan support strategic objectives
3.2 Evaluate approaches to build marketing plan agreement which helps in changing business
actions and methods
3.3 Critically evaluate and measure agreed plan
CONCLUSION