Strategic Marketing: Market Audit, Customer Analysis, and Objectives

This document provides a comprehensive guide on strategic marketing, including market audit, competitor analysis, customer analysis, and key strategic marketing objectives. It discusses the market size and trends of E45 in the UK, analyzes the competition using Porter's five forces model, and examines the strengths, weaknesses, opportunities, and threats of E45. It also explores the target customers of E45 and provides a stakeholder analysis. The document concludes with key strategic marketing objectives for E45.

STRATEGIC MARKETING

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................1
MARKET AUDIT...........................................................................................................................1
A) Market Size and Trends..........................................................................................................1
B) Competitor's Analysis.............................................................................................................2
C) Customer analysis...................................................................................................................3
D) Customer analysis...................................................................................................................5
E) Stakeholders Analysis.............................................................................................................5
KEY STRATEGIC MARKETING OBJECTIVES.........................................................................5
Objectives....................................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Strategic marketing is by focusing on the strengths of the company so that the
organization can differentiate itself from competitors. Targetting people and converting them
into customers of the companies products and services. E45 is a dermatologist cream which is
used on itchy skin, sunburn, soothe dry, etc.
MARKET AUDIT
A) Market Size and Trends
The market size of E45 in UK market has analysed with sales of around 35.5 million
pounds. It is type of medication which helps to sooth the skin of user. Due to many fire hazard
deaths of customers the sales of E45 has declined in UK market in 2018 as compared to 2013.
this has also impacted the growth rate of company. It is also very essential for company to
improve the quality of business effectively.
Illustration 1: Trends of E45
1

B) Competitor's Analysis
Porter's five force model is an analytical tool which helps E45 to understand all the
market competition. This model analyses uniqueness of company's products which is creams to
increase market share and profitability effectively.
Threat of New Entrants
Due to increase in the demand in creams and moisturisers there is a high threat of new
entrant for E45 brand in UK market which can impact the sales and productivity of company
(Reed, 2018). However, many new entrants will be discouraged as entering in healthcare
industry is very difficult in UK and company ned to have all the certificates and licence before
starting business.
Threat of Substitute Products
Increase in demand of creams has also reduced the capacity of E45 to meet its demand in
UK market which has increased the threat of substitutes products. Due to innovation in the health
c are industry new products are emerging which can also impact the market share of E45.
Bargaining Power of Buyers
There is very low bargaining power of buyers of E45 company as there are many
products which help the company to attract more customers. This also increase the market share
and increase competitiveness in UK market effectively. This also help E45 to grow in new
market and increase customer base effectively.
Bargaining Power of Suppliers
The bargaining power of suppliers in health care industry is moderately low due to many
suppliers in the market which provides raw material to E45. This also helps the company
maintain the cost and reduce the price to increase sales and attract more customer in the business
effectively.
Threat of existing competition
There are many potential competitors in UK market which can develop the same
products. There is a high threat of existing companies as it can impact the sales of E45
effectively (Zghidi and Zaiem, 2017). Company need to increase the research and development
by investing in effective research team to identify alternative low cost raw material and also
innovate their products to achieve competitive advantage and reduce threat of existing
competitors effectively.
2

C) Customer analysis
SWOT
 Strengths
There is a faster recovery of the customers skin than the other competitive products in the
market. There is a huge customer base and the trust of the customers in the product. This product
can be very useful for a long run and the improvement is visible within a month or two (Yang,
Cheng and Zhang, 2017). The distribution of the product is making the company have a positive
impact for the company which is making the customer base of the company increase in number.
 Weaknesses
There has to be an investment which is required by the organization so that they can
make a better brand image for themselves which will help the company to grow in the market.
Colour of the product is not so attractive which is why the customers do not want to try this
product. The prices of the products is also very high which is another factor why the company is
having a limited customer base in market.
 Opportunities
The company must target the men segment as well so that they can get more customers in
the company so that they can get a competitive advantage. There are a lot of companies like
Nivea, Ponds, etc. which are in the market and E45 solves the customers requirement the fastest
which is a great advantage for the company (Lohith and et.al., 2018).
 Threats
The competitors in the market are changing their products so that they can compete with
E45 in the market which can reduce the customer base of the company. Racial issues for
promoting the products can be a threat for the company. There is a threat in the company of new
entrants which will make the company have a bad market for themselves which is going to be
very harmful for the company.
PEST
 Political Factors
There are a lot of free trade policies in many countries which is a great advantage for E45
but with European country the trades have a lot of troubles due to Brexit (Wood and Jobber,
3

2016). There were a lot of factors which were effected in E45 and the company was not being
able to do so good financially.
 Economic Factors
The economic factor of the company is stable which is giving the company have a better
functioning for themselves (Cegliński, 2016). The economic department of E45 was disturbed by
Brexit which is why it is very essential for the company to have a better functioning for
themselves and have changes strategies so that they can improve this factor.
 Social Factors
This is a very appreciated cream in the market and specially for the women section
because they do a lot of research before taking any product and E45 provides their customers
with all the necessary products so that they can select the right brand for themselves (Aktas and
Sel, 2018). Skin care is a very essential factor for the customers therefore the products they use
also have to be good for the skin therefore there are decisions which are taken from the
customers are accordingly.
 Technological Factors
There is an increase in the using of technology in the company so that they can improve
the productivity of the company which is going to be very helpful for the company. The
productivity will make E45 reach to the customers on time and the loyalty of the company
amongst customers will increase.
 Legal Factor
The company is following all the legal factors of the company so that they can get a
competitive advantage and also expand themselves in other countries of the world (Watanabe
and et.al., 2019). Safety of the customers and the labours of the company are taken by E45 so
that they can create a healthy environment to function within.
 Environmental Factor
This is a cream which is very good for a long use for the customers which is not greasy in
nature. The company is not harming the environment as well and the waste of the company is
being disposed off well (Osuagwu, 2016). The company has a great advantage on the functioning
of the company so that the company can get more loyal customers in the company and to attract
more there are zero footprint carbon which is being followed by the company.
4

D) Customer analysis
The targetted customers of E45 are those who are having a skin trouble so that they can
find some difference which will make the company's brand image better. Though this product is
good for men and women's type of skin but the women prefer taking this brand more and that is
making the company get a great advantage overall which is a great factor for the company (Koo
and et.al., 2017). Promotions and pricing of the product is being worked on but the quality of the
product is very good for the customers which is why the company is being able to attract a lot of
customers.
E) Stakeholders Analysis
Stakeholders Significance
Suppliers They have the essential impact in business
growth by providing low cost raw material.
Investors Investors provided financial resources to E45
company to develop effective products to
increase profit margins.
Employees Employee of E45 helps to increase the
performance of company by doing all the
activities which also attract more customers to
make the loyal (Papadopoulos and et.al.,
2017).
KEY STRATEGIC MARKETING OBJECTIVES
Objectives
 To increase the sales by 20% of E45 by the end of 2022.
 To make the company get a profit by 15% by the end of 2023.
 To make the company have a better market share and improve the advertisement sales by
30% by the end of 2024.
 To improve the productivity of E45 by 35% by the end of 2022.
5

CONCLUSION
From the above report it can be concluded that there is a need for company's to analysis
there factors and competitors in market so that there is a better functioning of the organization in
the market. Analysis the market is essential so that the decisions which are being taken by the
company would be appropriate for the consumers.
6

REFERENCES
Books and Journals
Aktas, G. and Sel, Z.G., 2018. A strategic marketing approach. The Routledge Handbook of
Festivals.
Cegliński, P., 2016. Use of strategic marketing management tools in contemporary
enterprises. Marketing i Zarządzanie. 46(5). pp.9-16.
Koo, K.R and et.al., 2017, July. THE EFFECTS OF THE FIRM'S STRATEGIC MARKETING
ORIENTATION ON VALUE CO-CREATION AND RELATIONSHIP
PERFORMANCE. In 2017 Global Fashion Management Conference at Vienna (pp.
40-41).
Lohith, C.P and et.al., 2018. Innovation and strategic marketing-the key factors: a literature
review on Indian micro small medium enterprises. International Journal of Business
and Systems Research. 12(1). pp.53-68.
Osuagwu, L., 2016. A model of strategic marketing decision premises. International Journal of
Marketing Studies. 8(3). pp.145-153.
Papadopoulos, D and et.al., 2017, June. Automated System Frame for the support of Strategic
Marketing Plan. In 5 th International Conference on Contemporary Marketing Issues
ICCMI June 21-23, 2017 Thessaloniki, Greece (p. 497).
Reed, J.R., 2018. Strategic Marketing Workbook. Madison, WI: Center for World-Changing
Organizations.
Watanabe, F and et.al., 2019, June. Day-ahead Strategic Marketing of Energy Prosumption: A
Machine Learning Approach Based on Neural Networks. In 2019 18th European
Control Conference (ECC) (pp. 3910-3915). IEEE.
Wood, M.B. and Jobber, L., 2016. The marketing plan handbook. Pearson.
Yang, Y., Cheng, L. and Zhang, R., 2017, April. Research on Enterprise Brand Innovation based
on Strategic Marketing. In 2017 International Conference on Innovations in Economic
Management and Social Science (IEMSS 2017). Atlantis Press.
Zghidi, A.B. and Zaiem, I., 2017. Service orientation as a strategic marketing tool: The
moderating effect of business sector. Competitiveness Review: An International
Business Journal.
Online
E45 products ranked by number of users in Great Britain from 2013 to 2018. 2020. [Online].
Available Through:< https://www.statista.com/statistics/311900/e45-leading-products-
in-the-uk>.
7