Strategic Marketing Planning for Waitrose and Partners

This report discusses the strategic marketing planning of Waitrose and Partners, including the impact of Brexit and Covid-19 on the retail industry, organizational structure and resources, environmental analysis, PESTLE analysis, corporate and marketing objectives, and marketing strategy selection.

Strategic Marketing
Planning

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Investigation of present retail industry with impact of Brexit as well as Covid-19............1
Discussion on organisational structure as well as resources.................................................2
Environmental analysis............................................................................................................3
PESTLE analysis.......................................................................................................................4
Corporate as well as marketing objectives.............................................................................5
Marketing strategy selection....................................................................................................6
STP model..................................................................................................................................7
Assessment of 7Ps......................................................................................................................7
Implementation, control as well as evaluation.......................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Strategic marketing planning consist of setting aims and objectives, evaluating internal or
external business aspects, implementation, product planning as well as tracking companies
progress. It is referred as an ongoing method by that company creates marketing strategies as
well as plans along with its implementation in their target corporate market. Process of strategic
marketing planning takes into account of present position of companies along with helping them
in determining promotional opportunities as well as evaluating them (Paul, 2018). Strategic
marketing plan is generally divided into three steps that consist of segmentation of market as
well as customers, profiling of market sections along with development of actual marketing
strategy. As strategic marketing planning could be applicable to different marketing goals status
increasing market share, market research as well as new product launch and so on. This report is
based on strategic marketing planning of Waitrose and partners which is a British supermarket
company that deals in selling groceries in different brands. This report includes investigation of
current retail industry true impact of brexit and covid-19, organisation structure along with
resources required, environmental analysis, PESTLE analysis, cooperative marketing objectives,
marketing strategy selection, STP model, analysis of 7 Ps, implementation control or evaluation
along with it conclusion.
MAIN BODY
Investigation of present retail industry with impact of Brexit as well as Covid-19
As Brexit as well as covid-19 has created a huge impact on retail sector industries. With
carrying of directed as well as covid-19 it leads to create positive as well as negative impacts on
retail sectors. As retail industry has faced different changes during analysis period through
changing economic situations across global world. The global economy, that slowdown in 2019,
has crashed in 2020 because of COVID-19 outbreak resulting in a challenging forecast time for
retail sector. Moreover, rising strength of online shopping has been a major aspect (especially,
during the Covid crisis). Along with this, the growing smartphone penetration along countries is
carrying e-commerce channel. Also, Augmented Reality, as well as other disruptive technologies
are reshaping the retail sector. Asia has some of largest retail markets in global world in China,
Japan, as well as India. E-Commerce sales in Q2 2020 accounted for 16.1% of total sales in UK
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markets. In terms of Waitrose positive and negative impact of Brexit as well as Covid are as
follows:
Positive impact of Brexit:
 There various macroeconomic fluctuation that affect retail sector markets in various
Brexit scenarios for having better developing their business to cope with pressures and
challenges in coming years.
 A detailed analysis is carried so that company in retail market could auto sales mixes to
reduce expected negative impact (Ashi, 2018).
 There is an opportunity of searching global information for performing business practices
markets for reaching more customers along with extending inflation.
Negative impact of Brexit:
 There is a challenge of considering as well as maintaining existing financial position
along with having investment funding to maintain their liquidity position in finance
market.
 There if the issue of determining contracts at risk which are being cancelled because of
material adverbs clause in retail markets (Shuajibi and Rahmani, 2018).
 There is a scarcity of lacking effective strategy in retail sector after Brexit.
Positive impact of covid-19:
 There is an opportunity of retail market for shifting to online as well as digital purchasing
of product and services (Paul, 2019).
 There is a focus of having healthy, local as well as safe lifestyle in retail sector for
protecting customers as well as employees of company in terms of their health.
 There is an opportunity of shifting of value in terms of money. As consumers are
demanding value for money across retail sectors.
Negative impact of covid-19:
 It affects groceries rate which are termed to be high after covid-19 that can lead to reduce
number of customers purchasing (Toles Jr, 2020).
 there is a requirement of more departmental retailers for providing essential natural
products in retailing that leads to decrease in sales of other products.
 There are high tax returns that are provided from retail sector.
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Discussion on organisational structure as well as resources
Organisation structure refers to system which outlines about how particular task are to be
guided in in order to accomplish objectives of company. As these operations consist of different
rules, responsibilities as well as roles of company. As organisation structure of company also
identifies how information flows among different levels of company. As in terms of Waitrose
company is following functional organisation structure in which their operations for
manufacturing of their products and services are divided into different groups according to their
functional areas. As finance related operations are carried by finance department along with
marketing related operations of company are carried by marketing department and so on for
hedging effectiveness in their company.
As it is necessary for company to have resources that should be required for carrying out
business activities. In terms of Waitrose, resources that are required in finance as well as staff are
as follows:
 As in terms of Waitrose, financial resources of company require funding for starting retail
business that requires capital for establishment of factories as well as producing products
in terms of food and groceries for customers. Financial resources for company could be
obtained from different sources like personal accounts as well as from financial
institutions along with different private investors of country.
 In terms of Waitrose, in company along with human resource are required for
manufacturing of products and services in order to carry out human factors effectively.
As by hiring skilled as well as talented workforce for carrying out their operations
effectively company could achieve their goals smoothly (Shalender, and Yadav, 2019).
As different staffing agencies as well as executive searches companies specialising in
identifying different skilled workforce in company every day in carrying out supermarket
chains in corporate markets.
Environmental analysis
Environmental analysis is defined as a process that determines all elements such as internal
or external that creates and influence on performance of company. As internal elements of
environmental analysis show strength as well as weakness of company while external elements
present opportunities along with its present threats in markets which are outside company. As to
carry environmental analysis it is said to be a regular stream of important information that is
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needed to find out best option of action. Strategic planners use as well as implements different
information which is collected from environmental analysis for forecasting as well as predicting
trends for future sales in marketing in advance (Dinesh, and Sushil, 2019). Environmental
analysis would be performed in different stages that consists of identifying factors that influences
company, scanning different factors which influences business, analysing various environmental
aspects incorporate markets along with forecasting of examination of analysis.
As environmental analysis plays an important role in in carrying out strategic marketing
planning for carrying business practices effectively. In terms of Waitrose, relevance of
performing environmental analysis in relation with strategic marketing planning that are as
follows:
 Determining strength: As by performing environmental analysis strength of businesses
could be identified so that company could gain advantage over their competitors
(Molenaar, 2019). As after identifying strengths of company they could maximize it by
using different improvements in their working activities. As for Waitrose, environmental
analysis is beneficial for carrying out strategic marketing planning as it identifies strength
of a company and according to that planning of marketing activities could be done in
order to achieve goals.
 Optimum utilisation of resources: As by proper environmental analysis it helps company
in having optimum utilisation of resources. It helps company e in decreasing waste as
well as making effective use of available sources by understanding external surroundings
need and wants (Rudkovskaya and Gerasenko, 2019). In terms of Waitrose,
environmental analysis helps in company in carrying out there marketing planning with
an idea of having optimum utilisation of resources for maintaining their survival in long
run.
 Survival or growth: By proper analysis of business surrounding helps company in
maximizing their strength as well as grabbing different opportunities that leads to
maintain their position in market as well as having a long survival (Molenaar, 2019). In
terms of Waitrose, environmental analysis helps company to carry their strategic
marketing planning in such a way that could lead to you have growth in markets along
with maintaining their survival in long run.
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PESTLE analysis
In terms of Waitrose PESTLE analysis of company are as follows:
 Political factors: This factor consist of company's policies like taxes as well as fiscal
policies along with rising trade tariffs which government have imposed after covid-19
situation (French, and Gordon, 2019). As these factors determines different aspects of
government which could influence economy on retail sector. As after imposing of Brexit
there is macroeconomic fluctuations in retail markets of Waitrose in carrying out its
business practices in performing its business practices in different countires.
 Economic factor: This factor consists of company’s inflation, foreign exchange as well
as interest rate that are raised due to covid-19. As due to slow down in economy
(Chambers and Taylor, 2019). Waitrose is imposing different rates for having economic
growth patterns that could rely on retail company for carrying on their survival. By
carrying out different rates so that their economy could be raised in carrying out
international trade practices.
 Social factor: This factor of analysis determines various culture trends as well as
population as Waitrose has to considered product according to their specified area with
customers’ needs for targeting a particular market different parts of countries. There are
different demographics of various country’s customers and according to that sell their
products according to their requirements by analysing their behaviours.
 Technological factor: As this aspect relates to different technologies data used to carry
out business operations along with providing product and services to customers
(Ebrahimi, 2019). As with rise of coronavirus pandemic there is a shift of offline market
to online market in which different automation technology is used for selling groceries
product. So in terms of Waitrose, company could focus in selling their retail products
through online modes in order to maximise their profits
 Legal factors: As these factors covers external as well as internal elements of different
laws and regulations which are made to carry out business practices in a lawful manner
that includes customers law, safety standards along with different regulations (Hussaini,
2019). According to present situation it is necessary for Waitrose to ensure that health
standards are fully maintained order to supply food products to customers. It is important
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for Waitrose that products as well as services which they are providing to customers are
to health secured.
 Environmental factors: This factor considers different sustainability as well as climatic
surroundings that affects society in terms of carrying out business operations effectively
(Berman and Thelen, 2018). Waitrose should ensure that their business operations do not
affect environment as well as surroundings by making sure that health and safety is not
harmed of their employees as well as customers.
Corporate as well as marketing objectives
For carrying up strategic marketing planning corporate objectives plays an important role in
company as it relates to objective of business as a whole (Serova, 2019). Corporate objectives
are usually planned by top management of company to provide a focus in planning of different
objective according to their functions that includes physical as well as financial resources,
productivity, for the employees as well as management. In terms of Waitrose company carries a
corporate objective of providing every product or services which discounters them by having a
focus on its range as well as coming to its stores for having quality experience of customers.
Along with that marketing objectives is carried or planned for having strategic marketing
planning for defining their goals. As marketing objectives directs intentions of marketing items
that provides a correct guidance of team members to follow as well as offering information to
executive for reviewing as well as supporting to company. It is said to be a pivotal element of a
marketing strategy. In terms of Waitrose, companies marketing objective depends on price which
is produced by revenues for creating up cost. As company’s objective is to offer product value in
terms of money by lower price cost to customer. As product value is represented as a affective
quality as well as best service in carrying out marketing objective.
Marketing strategy selection
For performing strategic marketing planning it is necessary for company to carry marketing
strategy for caring their business practices efficiently (Quaye and Mensah, 2019). As marketing
strategy is defined to a business game plan for accomplishing a prospective customer as well as
turning into to their products and services. Marketing strategy consists of company’s value
proposition, information of target customer’s demographics, brand messaging as well as high
level components. For having effective strategic marketing planning it is necessary for company
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select an effective marketing strategy. In terms of Waitrose marketing strategy selection, we
carried from following terms:
 By selecting Market by identifying type of customers that they want to target for selling
their product.
 Planning of product that company wants to sell their products in market. As product
planning scary according to needs of customers of targeted market (da Silva, 2018).
 After planning of product pricing is identified in a quantitative expression of value for
availing that product for customers.
 After that placing a product into market along with promoting it through different
channels for having effective strategic marketing planning in company.
As company is using word of mouth along with Internet marketing strategies for promoting
their product towards customer for dealing effectively with present pandemic situation (Narteh,
2018). Along with that bye carrying out paid advertising and using a price penetration marketing
strategy company could gain wide market share that results in maximize profit along with
revenues which higher effectiveness. In order to carry business practices of Waitrose company
could different marketing strategies in order promote their products as well as services in
markets so that revenues could be generated in higher terms. And for that company could use
marketing strategy of email marketing as well as digital marketing campaigns where they can
connect with customers by contacting through emails along with carrying out digital campaigns
so that customers will be get aware about company’s provided products.
STP model
As marketing segmentation strategy is required by company to be performed in carrying out
strategic marketing planning for targeting market in two different subgroups which is find to be
easy for managing different activities (Nummela, 2019). As market segmentation strategy
organises customers as well as business base with categorising demographic, behavioural as well
as geographic lines and according to that display their products. In terms of Waitrose
segmentation in company e leads to dividing company target market into different sub groups
along with a motive of caring business practices in two different countries that product could be
designed according to customers need of different countries.
Targeting:
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Along with that targeting refers to a selection of potential customers with whom company
wants to wishes to sell its product as well as services (Argenti, 2018). As targeting strategies
consists of segmenting market, selecting what target segment of market is correct along with
identifying products which are to be offered in that segment for having goal oriented planning. In
terms of Waitrose company should identify target markets and according to that design their
products for fulfilling the needs of every segments in retail sector. Along with the idea of
performing business practices in a globalised way company should target market of different
segments of countries so that product could be categorised according to them.
As market positioning refers to a strategic way that is used by company to establish a brand
image along with a product in minds of customers. As marketing positioning could be carried by
performing promotion technique with its price place of product (Singh and Dhir, 2019). In
general positioning strategy generally carries out representing Ps in minds of customers in order
to increase their sales. In terms of Waitrose company should use effective promoting techniques
first publishing a brand image in minds of customer so that they could attract to worth availing
its services in terms of groceries products. In order to carry out business practices through
globalisation in international trade. As in order to carry out business practices at international
levels company should use various global present techniques as well as tools so that it could help
in carrying out their business practices effectively in corporate markets by increasing their
profitability. As by performing out joint ventures with other companies, Waitrose could perform
their business practices at global level. Also along with company should retail sector markets in
terms of providing essential product services so that in terms of pandemic situation company
could carry its business practices effectively.
Assessment of 7Ps
There are 7 Ps of strategic marketing planning that are said to be key principles which
belongs to carrying out marketing strategies in markets. As for having an effective strategy
marketing planning it is necessary to evaluate various Ps marketing mix so that companies will
be able to carry their business operations (Grubor and Jakša, 2018). In terms of Waitrose, 7Ps of
strategic marketing planning in in in in carrying out present situation are as follows:
 Product: As this P marketing define what customer wants a requires from company as
whether it is a consumer packaged goods or a luxury item but it should be able to perform
well on customers’ expectations (Miotke-Dziégiel, 2019). In terms of Waitrose, company
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should use this element it in their strategic marketing plan to design their products that
could satisfy customer’s needs. Along with present covid situation it is necessary for
company to provide company essential products in terms of groceries off quality level.
 Price: This P of strategic marketing is said to be at amount which is sold at a price that
target customers dene to be pay for having good value of money. As when Calculating
price of product there should be cost which is entailed in producing, promoting as well as
delivering of product is to be considered. In terms of Waitrose, company should plan
price of product according to amount which is required for its manufacturing as well as
promoting. As for present covid situation company should lower down that customers
could avail its services.
 Price: This P of strategic marketing is said to be at amount which is sold at a price that
target customers dene to be pay for having good value of money. As when Calculating
price of product there should be cost which is entailed in producing, promoting as well as
delivering of product is to be considered. In terms of Waitrose, company should plan
price of product according to amount which is required for its manufacturing as well as
promoting. As for present Covid 19 situation company should lower down that customers
could avail its services.
 Place: As in carrying out strategic marketing planning product should be available to
customers at a place that are likely to be called supermarkets or online. This P of
marketing states that company should provide a place where customers could reach out
for availing their services (Alfayez, 2020). In terms of Waitrose company use online
methods for making customer purchase their product and services according to present
pandemic situation so that health and safety could also be maintained.
 Promotion: This P of marketing is used in strategic marketing planning for promoting
their products to different ways such as channels as well as advertising methods in order
to make aware customers for purchasing them (Felzensztein, Gimmon and Deans, 2018).
In terms of Waitrose company could use promotion for promoting their products and
services through online modes so that customers could be able to order their groceries
through internet by keeping their health and safety.
 People: As this P of marketing relates in in Bing team involved in delivery of product and
services which should be possess with skills as well as quality that are required for
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having success of business. In terms of Waitrose company could use effective and skilled
workforce in their operations for manufacturing of products so that goals can be
achieved.
 Process: This P of strategic marketing involves delivery of products that will raise in in
having customer experience for or providing them higher level of satisfaction. As when
products are delivered significantly it generally increases satisfaction level of customers
along with creation of brand value. In terms of Waitrose company could use different
delivery convenience of product and services through customers in a safe way.
 Physical evidence: This P strategic marketing planning refers to having a physical
context for carrying out their product and services of company. As in order to reinforce
product as well as seller’s credibility physical evidence should be required for qualities
that customer expect from company (Taylor, 2018). In terms of Waitrose company could
focus on providing effective packaging as well as labelling of their products which are
being sold so that customers could be attracted towards them.
Implementation, control as well as evaluation
As implementation is strategic marketing planning is said to be marketing strategy
implementation a process of turning company’s plans into actions. as implementation is said to
be a best strategy which is simplified as well as could be measured for measuring performance of
company. Strategy implementation plan should be developed through identifying target market
as well as customer’s profile in mind. As in terms of Waitrose, implementation is used in
company by carrying on different it operations for converting plans into actions in order to
accomplish desired goals and objectives of company. As company is focused at implementing
various effective strategies that leads to accomplished objectives.
And for ensuring that strategic marketing planning is carried in an effective way companies
need to control different activities by carrying out various operations for maintaining their
efficiency in markets. As controlling refers to measuring actual performance with the plan
performance and according to that taking corrective actions for better enhancements. In terms of
Waitrose company should use various controlling techniques like market share analysis, sales
analysis in which sales rate is identified along with having quality control checks with assured
budgets that enhancement it could be maintained regularly for maintaining survival in market for
long run.
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As strategic marketing planning requires a proper evaluation of various actions of
competitors so that company code able to deal with them effectively by using their skills and
strategies. As marketing evaluation is important it for companies to carry their marketing
activities regular on time (Ramirez, 2019). In terms of Waitrose company should use different
evaluation techniques by which competitor’s analysis is carried for evaluating various present
competition of company in retail sector and according to that using effective strategies for
maintaining their survival in competition with rise in profitability. As strategy evaluation could
be done on regular basis.
CONCLUSION
From above report it could be concluded that strategic marketing planning is an essential
element for carrying out business practices in an effective way. As by carrying out strategic
marketing planning company e will be able to plan their goals which are to be achieved by them
by analysing different external or internal business factors along with having a product plan for
analysing their performance. This report carries a brief explanation of impact of Brexit and
covid-19 on company along with its discussion of company’s structure with resources required to
carry on strategic marketing planning process. There is an analysis of environmental
surroundings for analysing various factors along with determining pestel analysis for making
different marketing objectives by choosing out a suitable marketing strategy. There is an
explanation of segmentation, targeting as well as positioning of product or services of company
along with identification of different Ps of marketing along with a usage, control as well as
evaluation of marketing strategies. This report determines a strategic marketing plan that leads to
accomplish different marketing goals along with creating a brand position in corporate market so
that company's profitability could be generated in terms of increasing revenues by using their
innovative skills.
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