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Strategic Marketing Plan for the John Lewis
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Added on 2021-02-21
Strategic Marketing Plan for the John Lewis
Added on 2021-02-21
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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1P1 Applying appropriate frameworks analyse the impact and influence of the macroenvironment on a given organisation and its strategies..........................................................1M1 Critical analysis of macro environment to communicate strategic decisions..................3P2 Analyse the internal environment and capabilities of a given organisation using appropriateframeworks.............................................................................................................................3M2 Critical analysis of internal environment.........................................................................6P3 Applying Porter’s Five Forces model evaluate the competitive forces of a given marketsector for an organisation.......................................................................................................7M3 Strategies to enhance competitive advantage and market position..................................8P4 Applying a range of theories, concepts and models, interpret and devise strategic planningfor a given organisation..........................................................................................................8M4 Strategic management plan............................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONBusiness strategy is considered as an competitive actions of company that allows them inattracting customers, improving their organisational performance as well as attainingorganisational goals and objectives. It also provides effective direction to company throughwhich they can improve their operations and also gain competitive advantage at market place(Anwar and Hasnu, 2016). The current project John Lewis has been taken into account as it is alarge scale company offers its products and services worldwide. The company belongs to retailsector and was incorporated in the year 1864. This report will provide description of PESTLEanalysis in order to identify impact of macro environment on company. It will also explain aboutVRIO and SWOT in order to understand capabilities of company effectively. Furthermore, theproject will also cover information on Porter's five force analysis and Ansoff growth matrix forassessing competitive environment and exploring available growth strategies for the consideredcompany. At last, effective strategic marketing plan will going to be developed which will allowthem in gaining competitive advantages. P1 Applying appropriate frameworks analyse the impact and influence of the macro environmenton a given organisation and its strategiesAnalysis of macro environment is identified as an essential effort that is required to betaken by business organisations so that they can understand the market in effective manner andalso identify its impact over the company. Here, manager of TESCO has conducted PESTELanalysis for improving their knowledge on macro environmental factors in effective manner.PESTEL AnalysisPESTEL analysis is identified as an strategic technique that supports in exploring allexternal factors which could influence organisations operation activities and business growth(Buckley and Ghauri, 2015). In context of John Lewis, its manager has carried out PESTELanalysis for identifying available threats and opportunities for company. All six factors of thisframework are described as below:Political: John Lewis is UK based company which also comes under European union.Entering into EU is not difficult as it has lower market limitations. This directly develops higherlevel of competition for John Lewis as any new company can easily enter into this marketplace.Due to This, UK government have reduced corporation tax that is from 30% to 28% which haveultimately supported company in enhancing profitability at marketplace (John Lewis PESTEL1
Analysis, 2019). Here, it is essential for John Lewis is to develop effective strategies as the legalnorms developed by government. The main threat of this factor of John Lewis terrorist attacks.In order to deal overcome this, John Lewis should keep a back up plan by which they can ensurethat least harm owing to adverse political state.Economical:The result of Brexit has brought recession in United Kingdom. This havealso resulted in the fluctuation of interest rates. For managing this situation, it is mandatory forretail companies to offer products to customers at lower price (Buckley, Burton and Mirza,2016). Here, it is essential for John Lewis, to go for cost cutting strategy in their operationalactivities so that customers could get the product at lower price only which also leads toenhancement of sustainability of company in effective manner. The opportunity related toeconomic status within UK for John Lewis is that there is a strong economic backup of thisnation which also facilitates growth because it supports them in handling rapid innovation. Social: Social culture of United Kingdom is changing every day with the rapid speed.This ultimately brings opportunity for the John Lewis as the company can easily grab attentionof customers by offering them highly new products and services such as fashionable cloths,accessories etc. as per current market trend (John Lewis: competitive advantage in a tough retailmarket, 2015). This will support company in influencing its sales performance. Along with this,it will also contribute in enhancement of sustainability of this company within UK. On the otherhand, probable threat associated with the same factor is quicker access to customers with latestfashion product earlier than John Lewis. For overcoming this problem, it is important formanager of John Lewis to conduct some regular based research so that latest trends can bedetected by its own team in faster manner. Technological:For John Lewis, this factor is associated with internet shopping whichwas implemented by the company for main motive of reducing paper wastage and alsofacilitating customers to shop at their feasible time and place (Dranove, 2016). John Lewis isusing latest tools and techniques that are helpful in managing their operational activities ineffective way. While, the major issue with the technological advanced tools and technique is thatit is quite expensive which directly places effects over financial plan too (John Lewis SWOT andPESTEL Analysis, 2019). In order to deal with this situation, it is essential for its managers toallot adequate amount of budget to technical department so that they can use it as per theavailability. 2
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