Strategic Marketing Planning

This document provides insights into strategic marketing planning and its importance in business. It explores the corporate strategy and business strategy of Holland and Barrett, a well-reputed chain of health food shops. The document also discusses the history, smart objectives, and conclusion of the company. Additionally, it offers information on strategic marketing planning in the South Korean beauty market.

Strategic marketing planning
MKT 6801

Table of Contents
INTRODUCTION...........................................................................................................................3
CORPORATE STRATEGY............................................................................................................3
BUSINESS STRATEGY.................................................................................................................4
HISTORY........................................................................................................................................5
SMART OBJECTIVES...................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing is said to be occupying major part of any organisation. Marketing will help to take the
product to its customers and in return it will also increase the customer base. The marketing
strategy for a marketing plan is said to be an entity that will define an entire business foundation.
It is said that the marketing plan will carry the goals and objectives of the company or any
business that is working for in the Industry that it is operating (THIS, 2020). The entire report
deals with the marketing plan as well as the different stages that are related to the company that
is mentioned. The company that is adopted in this regard is Holland and Barrett. Holland and
Barrett company is said to be one of the well reputed chain of health food shops that is present in
almost 16 countries all around. It is said to be operating in 1300 stores and is known to be one of
the major contributor for healthy foods. It is established in the year 1870 in United Kingdom to
stop it is operating with around 7000 employees that will contribute for the betterment of the
organisation. The report deals with the strategic planning of the company Holland and Barrett.
CORPORATE STRATEGY
There seems to be a hierarchy in every organisation that will deal with the goals and the
objectives at every stage (Sharp, 2017). The corporate strategy is entirely associated to the
highest strategic plan of the organisation that is holding the entire organisations. This is said to
be defining the entire goals of the company up on which the employee is working in the
directions to achieve the target in a strategic manner. In order to attain a long-term compatibility,
these organisations seemed to be envisaging upon the targets that are required by the
organisations and therefore that can only be done by operating in a corporate strategy
environment (Minchin and Alpert, 2017). The corporate strategy that is inhibited by the company
Holland and Barrett is said to be one of the best dominated one in terms of digital future. The
company stresses upon how to move ahead digitally in not less than 10 years from now. It seems
that the CEO of the company is more targeted towards attaining the better possible results upon
operating digitally. The company is already known as a biggest retailer giant. It is operating in
not less than 1000 stores all over the world. Therefore, in order to increase the consecutive
growth factor of the company the management is planning to increase the digital measure that
will make it one of the largest retailers in the world. In the past ten years until 2017 the company
is noted for its growth trajectory as an immense one by everybody around the globe (Hanlon,
2018). The company's strategic management has evolved in supplying the healthy eating food

that will be incorporated by customer and therefore the customer base has been increased. In
order to increase the strategic development path of the company the CEO of the company Mr
Peter Aldis is said to be joining hands with one of the ex-director of Sainsbury Argos company
(Smaliukienė and Petrauskaitė, 2018). In order to attain the most prominent corporate value the
company has increased all its supplier that are involved in supplying the resources for the
company to adopt the policy of ethics that will bring about the raw materials in the best possible
manner.
BUSINESS STRATEGY
Business strategy is important to identify the objectives as well as the goals upon which the
company is operating. Business strategy will help to enhance the stages of development and will
also contribute to the betterment of the company (Hollensen and et.al, 2017). In any kind of
industry where the company's operating there seems to be a competition that is prevailing. The
business strategy will help the company in order to go in a planned manner to establish the goals
that are penned in the document. Holland and Barrett company is known to be the largest retailer
in supplying the healthy food in the industry. Being one of the large retailers forms its major goal
is to establish the franchise is in the international markets. According to the company Holland
and Barrett the consumer identification is such that every consumer is becoming economically
independent in this present scenario. Therefore, it is an essential factor to provide the product in
the sense of meeting the lifestyle of consumers. As a part of business strategy the company's
major focus is upon development of products that will make it one of the best competitor in the
market and can be also in the Global market stock (Trofimova, 2020). The major aim of the
company Holland and Barrett is to win the Fame over other companies that are operating in the
same field. Since there is a major requirement for health supplements and people go for it upon
diagnosis therefore this company is majorly focusing upon its product in order to move in terms
of development. Business strategy of the company distinguishes it from the other companies with
regards to the production and quality. Since most of the people are aware of the company's
products and their quality there for the business will enhance the same by not damaging the
customers satisfaction. In order to gain customer base it is important to develop trust (Lee and
Kotler, 2019). On the basis of the customer testimonials there seems to be different purchases
that are done. This is one of the best business strategy that is being employed by the company.
The company is moving forward that the policy of maintaining customer satisfaction and based

on that they are developing their products in order to meet their demands. Also the company
majorly focuses upon the affordable pricing strategy that is required by the customer in order to
purchase the item. The majority of customer that approach the company are those that are
suffering with a disability or are battling with some kind of health issues.
HISTORY
Holland and Barrett company is known to be the largest retail apps in producing the health foods
that are essential for the customers. It is said to be established in the year 1870 and since then the
company is improving every stage of its process in order to meet the customers as well as to
develop its base (Dogu and Albayrak, 2018). It has been through a partnership with Major
William Holland and Alfred Slaps Barrett. In the beginning the company's major focus is to deal
with the vitamins minerals and many other supplements with regards to the Herbals. Initially the
two partners started as a grocery store and sold groceries and clothing. Later they got into the
field of producing the health food supplement that are required for people all around.
SMART OBJECTIVES
Specific: For this the company inhibit the factors that demands health supplement. The
company's major business strategy is to tap into the China's market such that it can get a large
base from China. The company is already operating in 500 stores internationally and its major
strategy depends upon how far its policies will adhere the company into expanding the business
to China.
Measurable: The price in the market of the products that are supplied by Holland and Barrett are
said to be very liable and there are many number of customers that are approaching and
purchasing the product (Stone and et.al, 2020). This has increased the market for the company
into a broader level such that its focus upon international expansion is said to be blooming.
Achievable: Achievable aspects of this company will bring forth the targets that are to be
achieved that are involved in the health supplement production that is a greater necessity for
today's market. Almost all the countries are aware of the reputation that the company Holland
and Barrett is maintaining and therefore there can be a scope for it to develop its business
internationally.
Realistic: For this particular process the company focuses upon the testimony of its consumers
that have purchased the products. Based on the testimonials the other customer are drawn to use
the product of the company Holland and Barrett (Dolnicar and et.al, 2018). These testimonies are

put forth upon the social site and their website such that there can be numerous reviews and
customer support to them.
Time bound: For this purpose the management figures a period of development such that during
this period the goals and the targets of developing products as well as exporting them as well as
developing them internationally will have to be performed.
CONCLUSION
The entire report concludes upon the fact that the strategic planning is important to move ahead
with the business strategies that are necessary to be implemented. The report also explains the
strategic planning of the company Holland and Barrett that has achieved a great amount of
success in the field of retailing food supplements. The report also explains the business strategy
as it's one of the core component to develop. The corporate strategy of the company is put forth
in the report which will bring forth the company's adherence and policies. The company Holland
and Barrett history is being explained in the report with its franchisees as well as its initial setup.
The smart objective of the business will bring forth the specific, measurable, achievable, realistic
and timebound perspectives that are important for every company to distinguish itself in the
marketing race.

REFERENCES
Books and journals
THIS, 2020. Strategic Marketing Planning. Hashtags and Headlines: Marketing for School
Leaders, p.29.
Minchin and Alpert, 2017. Realising Drucker and Kotler's Vision for a Strategic Marketing
Department. Available at SSRN.
Hollensen and et.al, 2017. Social media marketing: a practitioner guide. Opresnik Management
Consulting.
Lee and Kotler, 2019. Social marketing: Behavior change for social good. Sage Publications.
Dogu and Albayrak, 2018. Criteria evaluation for pricing decisions in strategic marketing
management using an intuitionistic cognitive map approach. Soft Computing. 22(15).
pp.4989-5005.
Dolnicar and et.al, 2018. Market Segmentation. In Market Segmentation Analysis (pp. 3-9).
Springer, Singapore.
Stone and et.al, 2020. Artificial intelligence (AI) in strategic marketing decision-making: a
research agenda. The Bottom Line.
Trofimova, 2020. Strategic marketing planning in South Korea: Finnish company entering South
Korean beauty market: Case Lumene.
Hanlon, 2018. Digital marketing: Strategic planning & integration. Sage.
Sharp, 2017. Marketing: theory, evidence, practice. Oxford University Press,.
Smaliukienė and Petrauskaitė, 2018. Strategic Marketing Planning: Approach Of Contingency
and Strategic Intent. International Economy: Problems of Innovation and Marketing
Management, pp.444-447.
Online
Strategic marketing planning: [Online]. Available through: < Strategic Marketing Plan
Components and Benefits (thebalancesmb.com)>
1

2