Marketing Plan for Food Retail: Enhancing Growth Using 7Ps (2020-2023)

This report presents a marketing plan for a food retail company aimed at enhancing growth and market share between 2020 and 2023. It begins with an executive summary outlining the company's objective of launching organic and healthy food products to increase profit and market share. The report includes a situation analysis utilizing SWOT, BCG Matrix, and Ansoff Matrix to assess the company's current position and identify opportunities and threats. The STP analysis is used to define target customers. The proposed marketing tactics involve leveraging the marketing mix (7Ps) to improve the company's product offerings, pricing strategies, promotional activities, and distribution channels. Finally, the report suggests methods for controlling and monitoring the effectiveness of the marketing plan to ensure successful implementation and achievement of objectives. Desklib provides a platform to explore similar marketing assignments and past papers.

Principles of
Marketing Part 2

Table of Contents
INTRDUCTION..............................................................................................................................3
TASK...............................................................................................................................................3
Executive summary.....................................................................................................................3
Objectives of introducing this product........................................................................................3
Situation analysis........................................................................................................................4
Tactics.........................................................................................................................................5
Controlling and Monitoring........................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRDUCTION
Principles of marketing is defined as the regulations and rules which is utilized by
company during the time of popularising their product in various locations or between
consumers. Because in marketing rules and regulations are highly essential for sending only
reliable informations to customers in fast manner regarding the company products (Acikgoz and
Burnaz, 2021). The chosen company is Food Retail for understanding the digital marketing and
marketing of principles effectively which is headquartered in UK. This report will be covered the
executive summary of the product and company, summarise the organization current situation,
developing a marketing strategy. It also how the marketing mix can be used to help the
organization in question improve growth and market share. In this report STP and SWOT
analysis are also explained in aspect of introducing new product.
TASK
Executive summary
The name of the organization is food retail company and they are going to launch new
product in market which is known as organic and healthy food. In 2020-2023 this product are
highly helpful for organization for increasing their profit and market share by 40%. The main
motive for introducing this type of product by firm is to increasing the energy and protect the
health of customers in long term. The other highlight of this product is that young and old age
customers are highly attracted for buying this product. In today's time this product are highly
essential for children also for protecting them from various diseases. Therefore, only young and
old age customers are coming under the category of target audience which are highly valuable
for company which leads to increase their profit in long term.
Objectives of introducing this product
 During the time of launching organic and healthy food and utilizing effective marketing
strategies reputation of food retail company are easily enhanced in various areas (Aliyu,
Sadiq and Alhaji, 2021). It leads to increase their revenue by 30-40% effectively within
short duration.
 With help of launching this type of product target customers are easily attracted in large
number which leads to increase the popularity of their brand image effectively.

 Due to use of effective marketing plan the reach of their services and products are easily
spread at international or global level.
 In physical mode with help of effective marketing strategies the visits of the customers
are effectively increased in their store. Strategies includes advertising, facilitating
beneficial offers, discounting offers and others.
Situation analysis
SWOT Analysis
It is basically a strategic technique which is used by Food Retail for analysing their own
and competitor’s strength, weakness, opportunities and threat which are explained below -
Strength includes -
 In context to food retail, management must utilize only talented or skilled workers in
their work place area (Amoako, Doe and Dzogbenuku, 2021). Because due to the use of
talented workers company are able to maintain good relationship with consumers
effectively.
 In context to food retail, management are highly considered about the health and
satisfaction level of customers. Therefore, for sustaining the customer satisfaction at
high level they must always deliver best quality food product to all customer segments
without any type of discrimination.
Weakness includes -
 The first weakness is that increasing price in new product (Bilovodska and Holovachov,
2021). But due to enhancing price in their product chances are easily increased to
decrease the demand of new product in the market. Due to low demand company profit
are easily reduced by 50% which is not good for their performance.
 High utilization of technology also creates negative impact on the organization
performance. Due to effective use of machines cost are highly increased in their product
in the form of price. Because here company made huge investment in their machines for
manufacturing best quality goods.
Opportunities includes -
 Due to facilitating healthy food product to their targeted customers, food retail company
are able to establish strong infrastructure in various locations in the form of expansion.

With help of developing strong infrastructure, organization easily deliver their products
to customers in time.
 Effective supply chain management and it is also the part of infrastructure. With help of
effective supply chain company are able to send their products to customers in multiple
location within low time.
Threat includes -
 In market competition is the major threat for organization because in today's time other
brands are also providing the healthy and organic food to these customer segments. For
reducing this problem, it is mandatory for company that they must facilitate the new
product at low price to all consumers.
BCG Matrix
BCG Matrix is basically a tool which is used by organization for assessing the current
state of value of a firm’s unit or product line. Due to the effective use of this tool Food retail is
able to decide that which units or product to either keep, sell or invest more. Then in this way the
revenue and goodwill of the organization are easily maintained at higher level for long duration.
This tool is basically consisting of four stages which is described below –
 Stars – It is defined as those products and services which is which is have rapid growth
or dominant market share (Tadajewski, 2019). In context to food retail, due facilitating
organic and healthy fast food and snacks to customers the popularity of their enterprise
are effectively increased within short duration. Due to providing this type of food
products to customers such as young generations the market shares and portfolio of this
firm are easily sustained for long time in positive manner.
 Cash cows – It refers to those products which assist the organization for sustaining their
market share at maximum level but the growth of company is increased in slow manner.
In context to food retail, when they facilitate quality products to users with average or
high price then definitely their market share is easily sustained at high rate. Because here
young generations are ready to pay any type of cost for buying this product. But here
company growth is slow because they maintained in their product which is not affordable
to all customer segments.
 Dogs – It is related to those products which is responsible for decreasing the goodwill
and revenue of company at higher rate. In context to food retail it is necessary for

management that they produce or manufacture the food products according to the current
trends, taste and desires of customers. Because without proper identification of needs and
desires of customer’s firm did not able to sustain the popularity of their goods and
services in minds of consumers for long time.
 Question mark – It is related to those products which creates question mark in the minds
of consumers that this product will be reliable or not. In context to food retail, it is
essential for management that they must always provide best quality products to
customers in any situation. In this way question mark in their services and products are
highly decreased for long duration. With help of reducing question mark the positive
relationship between customer and organization are easily maintained for long time.
From the above matrix it concludes that proper analysis of current trend and culture is highly
important for increasing the success rate of organization within short duration. In this way the
overall productivity and reputation of food retail firm are easily sustained in market for long
time.
Ansoff Matrix
The Ansoff matrix is basically a strategic planning tool which is used by organization for
identifying various types of opportunities to grow revenue for a business with help of developing
new services and products in market. Due to the effective use of this tool food retail is also able
to reduce legal risk in business activities at higher rate for long time. The Ansoff matrix is
basically consist of four stages which is described below –
 Market penetration – It refers to in which way the sale of existing product and services
are increased in existing market (Hunt, 2018). In context to food retail, management must
use various advertising strategies and also made modifications in their product with
introducing new flavors. Due to using these type of strategies especially young
generations is highly attracted in large number for buying their existing product. It leads
to increase the sales of the goodwill of company at higher rate within short duration.
 Product development – It refers to in which way modifications are made in the existing
product for increasing their popularity of company. In context to food retail, in first
management must properly identify the needs and desires of all customer segments
effectively. Then according to that they made changes in their product with help of
adding natural ingredients and flavors which is liked by customers especially young

generations. Due to this the loyalty of consumers are easily sustained towards company
for long time.
 Market development – It is related to increase the popularity of their goods and services
in new market. In context to food management must use various strategies. It includes
online advertising, digital marketing, sales promotion and so on. Due to the effective use
of these strategies the reach of their existing product and services are effectively
enhanced to new market and new customer within short duration. In this way productivity
and reputation of firm is easily increased in large scale in new market for long time.
 Diversification – It refers to introducing new products and services in new market at
wide range by organization. In context to food retail, management must enhance the
availability of their products and services to customers at wide range in both online and
offline mode. When organization diversify their product at wide range then convenience
is highly increased for customers for consuming their goods and services at higher rate.
After the evaluation of above data, it concludes that in today’s time digital shopping are
highly trending in each and every area. Due to this buying and selling of various products are
done quickly between customer and organization. Due to fast process positive relationship
are effectively maintained with consumers for long time.
STP Analysis -
It is a technique which is utilized by Food Retail organization for identifying the target
customers before selling their new and existing product. In this technique three stages are also
involved which are explained below -
 Segmentation – In context to food retail, management must focus on demographic
segmentation for introducing new product in market (Konhäusner, Shang and Dabija,
2021). The basic main advantage of this product is that it is highly healthy for all
categories of customers. According to demographic segmentation this product are comes
under the category of income and status of every people.
 Targeting – In this phase retail food must target those customers which is highly
essential for their present and future growth. The customers which are targeted by
company is old and young age generations because only they are able to consume these
type of product at maximum level.

 Positioning - In context to food retail, management must use digital platforms, social
media and other marketing strategy for highlighting their product features between
public. Due to using this type of strategy the sale of their product are easily increased
with 50% in 2020-2023.
Tactics
Marketing mix 7P's -
It is a group of actions which is utilized by the firm for increasing their portfolio and
market share easily. In this method basically seven strategies are involved which are described
below -
 Product – In context to food retail, management are introduced organic and healthy food
to all customer segments (Osuagwu, 2021). Due to facilitating organic food from
organization in various locations convenience of consumers are highly increased for
buying their product in low time. In organic food natural ingredients are used by
company which includes dairy products, meat, eggs and others which helps the consumer
to protect from diseases.
 Price – Due to initial launch of their product it is mandatory for company that they must
always maintain average or low price in their product. In today's time customers always
try to buy the product of company at valuable and negotiable price. Due to using these
strategy customers are easily attracted in large number which leads to increase their
popularity and brand image in market for long duration.
 Place – In context to food retail, it is necessary for management that they must chose
right and suitable location for launching and sell their new product effectively (Perčić and
Perić, 2021). With help of good location company are also able to establish effective
infrastructure and distribution channel in different locations. In this way the positive
relationships are also maintained with suppliers and customers for long time.
 Promotion – It refer to popularising new and existing product of company by using
various strategies which includes advertising, digital marketing, direct selling etc. In
context to food retail, management must use digital platforms in attractive manner which
includes various apps, software and official portal. Because due to using these facility
customers are able to easily access detailed information about the company product and
services.

 People – Here people refers to the employees who are working in the company. These
employees are fully responsible for facilitating best quality services to user’s time to
time. In context to food retail, management must use talented staff for solving the queries
of consumers regarding their product quickly which leads to increase their positive output
at maximum level.
 Process – In context to food retail, management must use advanced equipment’s and well
established distribution channel in both offline and online mode (Perumal, Ali and
Shaarih, 2021). Because with help of effective supply chain their products are also
delivered to customers in time.
 Physical evidence – Physical evidence refer to fact or the proof which h is essential for
both customer and company. Therefore, it is necessary for the management of food retail
that they must provide reliable information and receipt to the customers during the time
of buying their new product.
Controlling and Monitoring
Here for ensuring or measuring the performance of workers within organization higher
authorities are used the method of KPI which stands for Key Performance Indicator (Rafliatha,
Suharyati and Aryani, 2021). Due to using this technique functions of whole organization are
done in smooth manner and also helps to finish the target in time. In this way the portfolio of
company is easily sustained for long duration between 2020-2023. It also helps to build strong
relation between employee and customer for long time.

CONCLUSION
From the above data it is concluded that marketing plan or principles of marketing pays
crucial role for increasing company's productivity. With help of effective marketing plan
management easily initiate their various policies regarding their product. It is also helpful for
expanding their business activities in various locations and also for sell their products easily. It
is also helpful for maintain good relationship with users easily. This report will be covered the
executive summary of the product and company, summarise the organization current situation,
developing a marketing strategy. It also how the marketing mix can be used to help the
organization in question improve growth and market share.

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