Marketing Essentials Report: Atrium Insurance Corporation Strategy

This report provides a detailed analysis of the marketing plan for Atrium Insurance Corporation, a UK-based insurance company. It begins with an introduction to marketing essentials and then delves into a situational analysis, including micro and macro environments, and a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. The report then explores the company's objectives, strategies, tactics, action plans, and control mechanisms, based on the SOSTAC framework. Furthermore, it incorporates Porter's Five Forces analysis to evaluate the competitive landscape. The report also discusses the key roles and responsibilities of the marketing function, emphasizing brand image, market research, promotion, and customer engagement. This comprehensive analysis offers a valuable insight into Atrium Insurance Corporation's marketing strategies and operational framework.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................3
ATRIUM INSURANCE CORPORATION....................................................................................3
Situational Analysis ...............................................................................................................4
Micro......................................................................................................................................4
Macro......................................................................................................................................4
SWOT.....................................................................................................................................5
Objectives...............................................................................................................................7
Strategies................................................................................................................................7
Tactics.....................................................................................................................................7
Action.....................................................................................................................................7
Control....................................................................................................................................8
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing essentials refers to all marketing activities and methods those are help to
introduce marketing features. When a company launch a new product in the market, for promote
their products has to do marketing activities and prepare some effective advertisement regarding
their products, so customers can know about that particular products they are ready to purchase
these products. In the first task of this project report helps to explain Tesco is the retail chain in
UK its provide all retail goods and products to customers they can give proper satisfaction to
customers and easy to build a brand in their mind. Next one task related to profit and non-profit
charities like The national trust and British Airways. These both are help to increase standard of
living of public and help to them in critical situation. Last one task is related to Atrium insurance
corporation in UK, its help to give security and safety to customers and want to launch a new and
effective product or service to their customers(Dibb and Simkin 2013). The manager of the
Atrium insurance corporation wants to prepare a marketing plan for business development there
is including 7ps of marketing that help to achieve objectives and goals of the company.
Marketing of 7ps are play an vital role to develop business in the systematic manner and help to
achieve decided goals and objectives of the company. 7Ps of the marketing are product, price,
place, promotion, people, physical evidence and process these all are help to develop business in
the effective manner and working all these are according to the marketing plan.
ATRIUM INSURANCE CORPORATION
Atrium insurance corporation is the insurance company in UK that provided various
insurance facilities to persons. In which cover various portfolios like health insurance, accidental
insurance, war, space, cargo, marine property insurance, political violences and so more. This
insurance company established in 1993 and additional offices in the various countries like
California, Ottawa, Singapore and Canada. The academic of the company is Mr. Paul Smith
made marketing frame work that name is SOSTAC that help to achieve decided goals and
objectives of the company. This marketing plan help to develop business in the effective manner
and help to achieve decided targets and increase w3orking performance of employees in the
company.

SOSTAC
SOSTAC is the marketing plan that help to achieve decided goals and objectives of the
insurance company. This marketing plan is play an vital role to develop business in the effective
manner. SOSTAC means situational analysis, objectives of the marketing plan, strategy, tactics,
action and control. All these key points of the marketing plan help to achieve goals according to
the plan and employees all are working effectively and efficiently manner. In the other hand,
SOSTAC is the marketing plan for the Atrium insurance corporation that help to achieve goals
and objectives of the company and develop business in the effective manner(Lamb, Hair and
McDaniel 2011).
Situational Analysis
Situational Analysis is the first element of marketing plan in which identify the situation
of the company and their objectives of the company towards their marketing plan. That want to
be achieve in the future. Situation of the company should handle in the effective manner and
should take better decision towards that better decision regarding situation help to develop
healthy environment in the company and develop in the systematic manner. Situational Analysis
manly completed on the two level first is Micro and second is Macro those are explain in under
the below:
Micro
Situational Analysis conduct at Micro level there is analysis the evolution at small level
in which find out the actual position and status of the company that help to take effective
decision.
Macro
Situational Analysis at the Macro level so there is identify and analysis the business
environment internally and externally. In which find out the companies competitors and their
strategies of working and clarify the opportunities an problems for the company.

SWOT
SWOT is the method and techniques to identify the strength, weakness, opportunities and
threats of the company. According to that help to analysis the company's position and status and
help to take better decision regarding any situations and problems. Its help to define cutten t and
future position of the company and help to achieve objectives and goals of the company on the
basis of marketing plan. By using this method help to reduce weaknesses and threats of the
company and help to develop business(Malhotra, Birks and Wills 2013).
Internal environment: Internal environment of the company in which analysis the internal
functions and operations of the company those are directly impacting on the company. Internal
environment including employees, objectives of the company, managers and so more. All thee
are working for the company and help to develop business.
External environment: External environment of the company in which including external factors
those are may be affecting on the company. These factors are explained by the PESTEL method
those are under the below:
Political Regulations: Political Regulations of the country that affecting on the company's
working systems. Political issues, their rules and regulation are affecting on company services
and consumers purchasing power. For example: Atrium insurance corporation is the insurance
company in UK. Political rules and regulations are affecting on the company that have to be
follow by the company.
Economical situations: Economical situations refers to economy of the country, inflation rate,
interest rate, market size, productivity, wealth and capabilities all these are affecting on the
company. Atrium insurance corporation is the UK based company there is providing various
insurance services to consumers in which influencing the economical environment of the country
and economy of the country on depends consumers purchasing power.
Social demands : Social demands affecting on working system of Atrium insurance corporation.
In the society having their own ethics and norms those should follow by the company and
provide services according to the society rules and regulation.
Technical advancement: Technical advancement refers to day by day techniques of completing
works in the effective manners and provide better and smart services sometimes are affecting on
the company.

Legal: Legal rules and regulation of the country also affecting on the company's working
systems. In which including legal parties are changes in some years those are regulate the
country according to their rules and imposed some restrict rules those are have to follow by all.
Atrium insurance corporation through should focused on the legal environment of the company
there governmental parties their rules and regulation and so more.
Environment: environment of the company also affecting on their working performance and
systems that should healthy at the internal level and external level and made some healthy
relationship with employees of the company and competitors of the country(Blythe, 2012).
Porter Five Forces Analysis
The Porter Five Forces Analysis is the model to analysis the market environment in the
systematic way. In which analysis the weakness and problems of the company that imposed by
the competitors in the market. Its help to reduce threats and problems for the company also
analysis the positions and status of the company. In which mainly including some stages those
are under the below:
 The threat of new entrant: The threat of new entrance n the market that increase the
competition in the market. All companies are provided various and different type of
services and products for consumers so consumers having many positions to choose. For
example: Atrium insurance corporation through provide various types of insurance
services for consumers but in the market enter new competitors to develop their business.
New companies as an competitors in the market those are main threat for the insurance
company.
 Bargaining power of buyers: In this stage company influenced or forced to consumers to
purchase the services and products in their life and identify the how much consumer are
depend upon the company's products. For example: Atrium insurance corporation
through provided insurance services to the consumers. This company influenced to them
to purchased their services and take provide safety.
 Threat of substitute products: Threat of substitute products refers to competitors of the
market that provide various types of products but with same features so in this case
consumers having many options to choose products. For example: in the market having
many competitors of the insurance company they are always try to beat each other by
using effective interest systems, low chargers and other facilities. The Atrium insurance

corporation company provide various insurances products and facilities to customers but
also available the substitutes in the market.
 Bargaining power of suppliers: In this stage company is depend on the products and
services supply by the suppliers.
 Rival among existing competitors: Rivals fights refers to stay in the market to face all
problems and issues to resolve them in the effective manner and maximize the profits.
For example: Atrium insurance corporation through should face the all problems and
threats in the market and resolve them and earn maximum profits also provide better
insurance services to customers.
Objectives
In this stage of the marketing plan having explain the objectives of the company and
explain that to all employees of the company so they work effectively to achieves their goals and
objectives. Atrium insurance corporation wants to provide better and effective insurance
facilities to all consumers in UK and give them proper satisfaction to them( Jones and Rowley,
2011).
Strategies
Strategies of the company play an vital role to complete all works effectively and manage
and control all works and employees. Strategies are the part of planning that help to achieve
goals and develop business in the systematic manner.
Tactics
In this stage of the marketing plan implement in the action for achieve the goals and
objective. Implementation of the marketing plan the important stage there is all works and
activities should imposed acceding to the planning. Tactics stage in involving the product, price,
place, promotion, people, process and physical evidence of the insurance company.
Action
After the implementation the marketing plan in the actual process should measuring and
analysis the action of working of employees in the company environment also identify the lack
of points and training of the employees and marketing planing.

Control
After the measuring the action of the marketing plan in the actual process then should
control and observe all working activities and works and employees performance in the
company. Control is the important stage of the marketing plan there is measuring the working
performance and working involvement of employees.
P1 Explain the key roles and responsibilities of the marketing function.
The main responsibility of marketing department is to promote the company by
maintaining the brand image into customer's mind . They act as a face of company as they are the
first to interact with the customers . They are responsible to reach to the customer and pitch the
right image of the company in customer's mind . Marketing functions include determining new
trend and need of the customers to the company . They do the promotion of the business in
various places like events, business group meetings so that they could expand their market shares
and attract new investor for the business . It's the job of marketing department to look for the
new opportunities in the market and various changes that has to made in the product of company
by collecting feedback from the customers . Maintaining the brand image in market and social
media is also done by them so that they can pitch the right brand image in consumer's mind.
While doing all this they also look for returns on investments and follows ups on the feedback
which is given by the clients . They manage vendors and suppliers of supply of product in
market , collection of raw material on time by maintaining relations with at least 2 or more
vendors and suppliers for process of delivery of raw materials and supply of finished product
into the market. They change tactics according to the working environment of the market to
achieve the missions of the organization(Papasolomou and Melanthiou, 2012 ).
P2 Explain how roles and responsibilities of marketing relate to the wider organisational context.
Various roles and responsibilities of marketing in relation to a wider organization include
promotion, maintaining brand image , creating new costumers etc. For example Tesco is
planning to launch a new product in the market for that they have to firstly look to their targeted
market segment and it's brand image in the market . They have to check whether the consumer's

are ready to accept the new product into the market for this they start by giving free samples to
the user and checking their feedback on them . If the feedback is good then they will launch the
product in the market and keep an eye on the customer's feedback for positive and negative
factor's of the product so that they can change the product according to their demand . Marketing
also include advertising of product for this they co-relation of product to consumer's life which
creates a positive image of the company in the market and would attract more consumers. They
check for control of demand and supply of product in market . If a big brand company is not able
to give a proper supply in the market this would leave a bad image on the consumer's mind and
this consumer would spread a bad word of mouth in the market which is not good for the
company . If there is any update required in the product the marketer would tell to the
organization by collecting feedback from the consumer.
P3 Compare the ways in which different organisations apply the marketing mix to the marketing
planning process to achieve business objectives.
Comparison between British Airways applying marketing mix to the marketing planning
process .
 Place: In both of the companies if British Airways is selling its product both online and
offline . This would give an additional advantage to British Airways because they are
selling their product both online and offline by doing so it will get more customers but
for this they have to get connected to a delivery system also so as to deliver the product to
consumer's home which has an additional cost to it.
 Product: If both the companies are in same product market then there has to be a small
difference in both of the product which may be a minor difference in quality and
features of the product . They may also differ in production size and capacity like British
Airways has a small production plant but have better quality of products .
 Price: Both the companies are dealing in same product of same quality then price could
be a factor of differentiation between both the companies which is dependent upon the
cost of production of both the companies and their sales promotion schemes .it has a
collaboration with other company and they are selling two products lower price(Mihart,
2012).

 Promotion: if competitors are selling the product in traditional manner and British
Airways has a modern selling method then it will have an additional benefit because of
digitalization of the goods and services.
P4 Produce and evaluate a basic marketing plan for an organisation
Marketing plan is basic guidelines for a Atrium insurance corporation advertising and
marketing strategies for the year. It has various missions set by the organisation depending upon
the vision of the company. They are the mix of strategies and tactics by looking at the future
trends. Marketing plan is built after looking at various things mainly
 The area in which our outlet store is located .
 Type of consumers we are targeting , their age and purchasing habits.
 Total revenue to be generated by the outlet for the working year.
 Cost of the plans which we would implement .
It will target nearby consumers of the age of 25 years and above , looking for products
which is used in daily basis . Our consumers would be the people living in nearby area , family
members and children . We would keep a target revenue by looking at the previous year's
revenue . The cost of our plan should be low but the plans should be effective . Some of the
marketing plans which we can adapt are firstly Atrium insurance corporation should keep
feedback forms at the billing counter so that the customer can fill it while the cashier will do the
billing work. Through it will be able know the customer satisfaction level and they can change
accordingly more amount of satisfied customer would spread a good word of mouth to others .
Secondly Atrium insurance corporation should also provide a home delivery options for the
customers within a specific range in this we should also check to our competitors in the market
that what offers are they providing. Sales berry should also do a follow up for the customer
complaints are demands. They can apply various schemes on the sale of different products .
Third sales berry should give training to the employees for determining the customer need and
employee should also try to do up selling . Atrium insurance corporation should keep their
customers up to date regarding new schemes like 20% off etc. and we should also greet them on
various occasions such as new year , festivals etc. we can get the details of customers from the
feedback form which they will fill. For the evaluation of these plan we should keep a track that

what percentage of customers came again to the outlet for the purchase of goods and their
feedback on various follow ups(Lane, 2016).
M1 Analyse the roles and responsibilities of marketing in the context of the marketing
environment.
Marketing is the important concept in marketing process its help to introduce a product in
the market. Through this marketing concept easy to introduce products features and their quality
so customers are easy to understand their products and easy to buy. There are some role and
responsibilities of marketing, marketing play an vital role like help to define products and goods
in the effective way, help to set and build a brand image in customers mind, give proper
satisfaction to customers etc. In the other hand, marketing has some responsibilities those are has
to be play regarding their products and their company like provide good quality of products, try
to understand customers issues and problems and remove them as soon as possible, build trust on
their customers.
M2 Analyse the significance of interrelationships between marketing and other functional units
of an organisation.
Marketing play an important role in developing organisation and introduce their products
in the market. In the market many competitors and substitutes are available so its hard to build
and set a place in the market. Tesco provide all types of products their all employees try to give
best services and satisfaction to customers. Organisation having many functions and activities
those are control and manage all employees and try to increase their performance in the effective
way so they can easy to provide services and products with proper satisfaction(Moll,2016 ).
M3 Evaluate different tactics applied by organisations to demonstrate how business objectives
can be achieved
Profit and non-profit marketing company British Airways and charity is National
trust help to increase standard of living and provide various facilities and benefits to public and
society. Charities want to earn and collect money through various sources those they can easy to

achieve their decided goals and targets. The national trust and British Airways both are charities
in UK they want to full fill their objective and goals and earn or collect money through many
sources(Nguyen and Simkin, 2012).
M4 Produce a detailed, coherent evidence-based marketing plan for an organisation.
Marketing planning help to introduce and define their products in the market and help to
attract maximum customers regarding their products and services. Atrium insurance corporation
is the insurance company in UK its want to launch a new and effective product or service to
customers and build a brand in their mind. Its help to provide safety and security to their clients
and make positive trust on them. Marketing planning is the important thing when launch a new
product in the market so has to understand all issues and circumstances regarding market and
competitors.
D1 Critically analyse and evaluate the key elements of the marketing function and how they
interrelate with other functional units of an organisation.
Marketing is the process in which introduce a new product, advertise, promote through
various methods and techniques and give full satisfaction to customers. Marketing process in has
to decide first goals and objectives of the organisation, analysis the market trends and customers
wants, selection of strategies and methods after that implementation and evaluation of the
marketing process(Desai, 2013).
D2 Design a strategic marketing plan that tactically applies the use of the 7Ps to achieve overall
marketing objectives.
Marketing plan is the effective and important thing to introduce a new product in the
market. Atrium insurance company wants to launch anew product so has to be made a plan and
design those help to achieve targets and objective of the business. Marketing plan include 7ps
like product, price, place, promotion, people, process and physical evidence. These all are help to
achieve targets and goals of insurance company and build trust on their customers(Kennedy and
Parsons, 2014).

CONCLUSION
Marketing is the important way to communicate and promote products and goods in the
market. Marketing process in various methods and techniques those are help to promote their
products in the systematic way and give a direction to set or build a effective image in the
market. Marketing process help to introduce, promote and give proper direction to company.
When a company launch a new product in the market so need capital to start and grow the
business. In the other hand, marketing process including various steps those are help to identify
an determine marketing. For marketing planning has be first decide vision and mission after that
select strategy and method last in evaluating the process.

REFERENCES
Books and journals
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