Strategic Marketing Planning

STRATEGIC MARKETING
PLANNING
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
P1 Corporate strategy..................................................................................................................3
P2 Business Strategy...................................................................................................................4
P3 Organisation overview...........................................................................................................5
P4 Evaluation of organisation corporate and business objectives through marketing theory.....5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
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INTRODUCTION
Strategic marketing planning is a process through which the company creates marketing
strategies and plans its execution in the target market. Strategic planning takes place at four
levels which are Corporate, division, business unit and product (Agic and et.al, 2016). Strategic
marketing planning requires a strategic planning to meet out the target growth and long-term
survival. Waitrose is a supermarket which was established in 1904. The company is operating
their supermarket in 332 locations through which they focus on serving food products and the
service provide by them is through online portal. This project reports is based on the analysis of
corporate and business strategies which are used by Waitrose.
TASK
P1 Corporate strategy
Corporate strategy entails a long term vision that organizations set, looking for corporate
value and always motivate the workforce for achieving the customer satisfaction. Corporate
strategy is an uninterrupted process to engage the investors with the company along with their
money, as a result of increasing the company's equity. Organizations who revisit their corporate
strategy at regular interval are successful in achieving the customer value. For developing a
winning corporate strategy, the focus must be on value creation and think more about the three
important key areas which are: Set a clear long term vision which always motivates their
employees and engages their investors consistently, a portfolio strategy for perceiving the vision,
set up the corporate policies and processes that reflect the corporates parenting approach. There
are different kinds of corporate strategy which includes Expansion Strategy, Stability Strategy,
Retrenchment Strategy. Expansion strategy is that strategy where the scope of business definition
has been increasing (Alsem, 2019). Corporate strategies involves defining business function sin
order top accomplish organisational objectives. Corporate strategies involves different policies
and strategies which determines organisational objectives. The strategies used by Waitrose are as
follows:
Allocation of resources- Waitrose allocates the resources of organisation in the most
effective manner to achieve organisational objectives. The two main resources of the
organisation involves people and capital. Waitrose recruits highly skilled employees in the
workplace in order to conduct business objectives effectively. Waitrose deploys employees in
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