Marketing And Their 7P's | Assignment

We will address marketing-based competitiveness and SWOT analysis in the marketing-based document that is provided below. We'll go through Ansoff's growth matrix in the context of how Reckitt Benckiser evaluates growth strategy. Additionally, marketing and SWOT analysis are used to discuss competitiveness in the article. We'll go through Ansoff's growth matrix in the context of how Reckitt Benckiser evaluates growth strategy.

Title - Marketing
Table of Contents
Introduction......................................................................................................................................3
Marketing and 7Ps...........................................................................................................................4
What is meant by Marketing?......................................................................................................4
The 7Ps........................................................................................................................................4
Marketing and Competitiveness......................................................................................................7
SWOT Analysis...............................................................................................................................7
Ansoff’s Growth Matrix..................................................................................................................8
Description of Ansoff’s Growth Matrix......................................................................................8
Using Ansoff’s Matrix to analyze growth strategies...................................................................9
Digital Marketing...........................................................................................................................11
Using Digital Marketing to improve performance and growth.................................................11
Conclusion.....................................................................................................................................13
Reference.......................................................................................................................................14
1

Introduction
In the era of enormous business functions, marketing has massive importance for solving the
problems of the consumers. Generally, marketing has its tremendous communication mix and
processes to make any brand sustained in the market with profit. Brand owners can obtain the
desired outcome that is invested into the business through marketing communication and it
promotes a substantial reach of promotional mix to greater consumers (Saidani, 2019).
Commencing from the software industry to food companies, marketing is an essential part of
analyzing the market as well as retaining the zestful structure. In the beginning part of this report,
the description will contain about seven Ps marketing mix and an illustration of its effectiveness.
After concluding the first part, we will discuss competitiveness through marketing and SWOT
analysis. Ansoff's growth matrix will be explained in the aspect of evaluating growth strategy
from the perspective of Reckitt Benckiser. In conclusion, digital marketing will be finishing the
report to inform about marketing trends (Morgan, 2019).
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Marketing and 7Ps
What is meant by Marketing?
There are several definitions have been introduced in academic books and journals. According to
AMA (American Marketing Association) definition and demonstration, marketing is the set of
activities or processes to create, deliver, and exchange ideas and offerings to enhance the value
for clients, customers and society to fulfil the needs and bring customer satisfaction (Joffi, 2018).
The current era of business believes in incredible uses of the marketing process. According to
Kotler, marketing is defined as a process that understands the needs and modifies the goods for
them in such a way to satisfy and provide a solution to the pain. The companies introduce
different types of advertising, and promotional works to execute the marketing for obtaining
organizational goals. To develop a product and improve the quality, the company needs to keep
pace with the market and marketing helps to recognize the trends. A whole process of marketing
includes analyzing opportunities in the market, marketing research, missions of the brand
towards marketing and communication, marketing strategy, mix and implementation of them.
For instance in business, Reckitt Benckiser applies the marketing mix to assess the market in
extending the product line and differentiate its products from rivals (Prikhodko, 2019).
The 7Ps
Reckitt Benckiser has incredibly adopted the marketing procedure since 1814 that has many
successful and profitable brands established in the market. Without marketing and
communication, a company will fail to reach the target market as well as lose the competition
among heavy competitors. During the pandemic outbreak, marketing has helped many
businesses to reach a broad audience otherwise it would have been a trouble to find potential
customers and attract them. Price, product, place and distribution, promotion, personnel,
procedure, and physical evidence are the elements of the seven Ps of marketing that helps to
provide an overall framework about what things should be done to execute them (Khan, 2014).
Product Mix
(Aldoski, 2019) provided a concept about product mix that diversity will lead products to gain
market position. The low categorized products of Reckitt Benckiser have a greater chance to
reflect a failure on the company. From cleaning agents to health and beauty care, Reckitt
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Benckiser has an enormous product line and only, Dettol has ten different products such as
washing liquid, shaving foam, shower gel, antibacterial soap, antiseptic ointment, disinfectant
spray, medical tools as first aid, and so on. Reckitt Benckiser often provides offers on many
products such as BOGO or extra discounts to catch the eye of consumers and the packaging is
splendid to attract the market.
Place
The geographical location of any brand demonstrates the place where the products are vastly
available to the consumers. The brand should consider the local taste and needs to modify it
according to that. Products of Reckitt Benckiser are manufactured and operated in several
countries where they consider the local and global preferences. A location in the marketing mix
is a crucial thing that defines a strategy consisting of the availability of products in a trouble-free
way. When the delivery is no hassle for consumers, that will be convenient for them to buy the
products and Reckitt Benckiser follows the strategy (Thabit, 2018).
Promotion
The promotional activities help a brand to increase its sales volume by building the consumer's
desire for the products. Exciting advertisements and creative events by Reckitt Benckiser can
increase sales and attract the consumers gaining huge publicity. People always like adventurous
games and play events. Reckitt Benckiser can promote the brand image and equity through
advertising, sales promotion activities and PR (Thabit, 2018).
The promotional activity is often seen by Dettol on television, newspaper, social media and
magazines. It heavily spends on advertising and social media is used as a platform to inform
about any hygiene factors to promote the brand. The Reckitt has worked with many celebrities
and sports personalities to run ad campaigns.
Pricing Strategy
Customers always look for value from the product and the benefit and value should be higher
than the price exerted. This is how pricing strategy works in any brand, according to (Ali, 2021).
Reckitt Benckiser uses the best pricing strategy at the consumer’s perception level and
concentrates on generating revenue (Polo, 2011).
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Personnel
The employees can bond between them while teaming up or depending on each other to release a
project. The integration among personnel will help to produce better products for consumers. In
Reckitt, there are many trusted sellers and others who market the products.
Physical Evidence
A sort of device that supports the appearance of the product is defined as physical evidence.
Reckitt has designed all the logos and signs, account transactions, brochures in an attractive way.
Process
The marketing process will finish the whole strategy with reliable determinants. Companies can
ensure the process with the easiest methods so that consumers can purchase it from reliable
sources.
Figure: Model of the marketing mix
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Source: oxfordmarketing.com
6

Marketing and Competitiveness
Companies can make the sale effective using a few marketing techniques and it will ensure to
improve the quality of the products as well as getting new leads. There are many functions while
producing and reaching end users but without marketing, those functions are not well enough to
compete with the market and reach audiences. The rivals can be assessed through marketing and
alliances with rivals also help to become strong (Gupta, 2016).
SWOT Analysis
To analyze the market competitiveness and formulate the procedures to reduce risks, SWOT
analysis can help to understand the external and internal environment of the business and know
to become capable of competing for the threats of rivals constructively. SWOT is the technique
or tool for evaluating the factors that impact any business and Reckitt's brands use it to find the
probable opportunities to enter with new and existing products. A company has strengths,
weaknesses, opportunities and threats that lead to competition and make more efforts in business.
The strengths of Reckitt will help them to sustain itself in the market with high profit and capital
share. The strengths are following such as household segment is immensely growing and the
major factor of the internal industry. Another fact of strength is an efficient distribution network
with a good financial position in the market (GURL, 2017).
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Figure: SWOT model
Source: ompetitivefutures.com
Opportunities of Reckitt are the source of recognizing changes in the market and can help to grab
them to expand their production. Exploiting the opportunities from outside of the company will
ensure Reckitt finds out the better options to work on. A company can be established by
recognizing the good opportunities that may bring profit and more valuable customers.
Developing in the new markets is the best opportunity for Reckitt as they have expanded their
operations emphasizing developing markets such as East Asian Countries and BRIC. These
potential growths of Reckitt can find them more opportunities in the meantime with increasing
customer's belief. In the context of home and office care, Reckitt has a prominent business
possession with potential future growth (GURL, 2017).
Ansoff’s Growth Matrix
Description of Ansoff’s Growth Matrix
To attract the consumers and market, a business needs to enhance its growth stages with proper
implementation. Thus, the productivity level will increase and can improve the further process of
infrastructure. The growth strategy of any company is defined as a process that ensures business
growth while reducing risks and overcoming challenges. The growth strategies can help to
understand the objectives and estimate the future sales volume. Ansoff's growth matrix is a
helpful technique or model that provides a full framework regarding business potential growth
and measurement of the procedure. It will lead the business with proper steps in the growth
stages. There are four stages such as market penetration, product development, market
development and diversification. A study has been established by (Posey, 2020), growth stages
must go through marketing procedure in evaluating the market.
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Figure: Ansoff’s Growth Matrix
Source: tractionwise.com
To recognize market occurrences on a trend basis and enhance market dominance, strategic
planning quadrants are employed. It keeps staff on track and disciplined, allowing them to think
strategically. For a corporation to extend its market, it must be aware of what is going on in the
industry, as well as developing growth strategies.
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Using Ansoff’s Matrix to analyze growth strategies
The two most significant strategies from Ansoff’s model are product development and
diversification of the market. In the growth strategy, quadrants are applied in Reckitt for every
product line to boost up the growth and assess the feasibility of the market. The chosen quadrants
for growth strategy are Product Development and Market Diversification (Van Hoek, 2007).
Product development in the aspect of the business is an important material to be considered for
substantial growth and redesign of the structure. It helps to increase the level of customer
attraction and makes the company more proactive to respond to any changes that occur. Product
development entails intensifying the growth while producing new products that satisfy the
customer needs and increasing the need for home cleaning agents over time, Reckitt has
introduced mesmerizing products that protect the child from germs as well as personal care. The
product development of Reckitt will contribute to the innovation of producing new and unique
samples (Kuptsova, 2021).
Another strategy for product development Reckitt uses is to gather strategic alliances to partner
with other companies that help to explore the new product line.
Diversification of products denotes that products are designed and created to add in new product
lines when the company adopts the initiative to grow in large. So, the supply chain management
has the authority to check over the products that are added to receive diversification. Customers
always prefer new products to explore when they are loyal to any brand. This is the riskiest
strategy among all as it requires product and market development. To rejuvenate the growth of
sustainability of Reckitt, they need to redefine the product line.
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Digital Marketing
A new marketing trend has been innovated by digital marketing because of technological
advancements. Digital marketing applications in businesses are emerged at a huge rate to expand
the business and marketing is being more valuable to every business. Digital marketing has
different segments such as social media marketing, content marketing, affiliate marketing, etc.
Digital marketing promotes and deliver ideas through digital platforms and reaches consumers
online. Not only small businesses but also large brands are also taking advantage of digital
marketing. The tools of digital marketing are effective to grow easily with a small investment
(Bala, 2018).
Using Digital Marketing to improve performance and growth
Among all the digital marketing tools, the four is selected to be described in this report and those
are google analytics, SEO, social media marketing and Canva. Except for these tools, there are
other tools as well to help businesses be in a position in the internet market. These tools help to
generate new leads and convert them into potential buyers.
Among these tools, google analytics is a great tool for digital marketing that helps website
visitors provide insights about user experience. Marketers of any company will understand how
effective their ads or marketing are. Asos, the clothing brand of the UK uses Google analytics to
make the marketing more effective (Jahan, 2019).
When it comes to SEO, it demonstrates the search quality that there are no choices such as SEO,
which stands for search engine optimization, to reach potential buyers. Memes, for example, are
the next generation's leaders and have become the best source of the social media material.
Content creators and viewer content marketing are two types of content that are becoming
increasingly popular. Influencers use blogs to discuss products and public relations packages.
Some actions are taken to improve the business profile and generate a list of keywords so that
customers can find it first. Agencies use a limited number of engagement metrics and
technologies to track campaigns, blogs, networks, customer feedback, and channels. These
include conversion rate, net promoter score, average usage duration, page critiques per group
meeting, and so on (Kumar, 2020).
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Conclusion
In the conclusion, marketing has the power to change business growth and it is a valuable
function for any business. To assess the market, there is no certain procedure indisputably other
than marketing. The whole report has established a concept on marketing that is applied to
organizations and brands to prove its importance of it. Thus, making effective promotional
content will help to gain a broad audience that can be potential customers. After the pandemic
started, many businesses switched to online and also some retailers are taking both advantages.
Uplifting the product quality with proper marketing can help a brand to sustain itself in the long
run. The application of digital tools will enable businesses to reach consumers and assess the
market feasibility (Morgan, 2019).
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