Marketing Essentials 1: Kingfisher Plc Report and Marketing Plan

This report delves into the marketing essentials of Kingfisher Plc, examining its roles, responsibilities, and interdepartmental relationships. It analyzes the company's marketing mix, specifically the 7Ps of marketing, and compares it to competitors like The Home Depot. The report also evaluates tactics used to achieve business objectives. Furthermore, it presents a comprehensive marketing plan for the launch of Kingfisher Plc's new car decor accessories, utilizing the SOSTAC model to outline the situation analysis, objectives, strategy (including STP analysis), tactics (4Ps), and action plan. The plan incorporates SWOT analysis to assess strengths, weaknesses, opportunities, and threats, and includes a detailed budget allocation for production, promotion, and distribution. The report aims to provide a strategic framework for successful product introduction and market penetration, including segmentation, targeting, and positioning strategies.

MARKETING
ESSENTIALS
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Table of Contents
INTRODUCTION ..........................................................................................................................2
TASK ..............................................................................................................................................3
LO 1 Contained in PPT...............................................................................................................3
TASK 2............................................................................................................................................3
P3: Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives.......................................................3
TASK 3............................................................................................................................................5
P4: Produce and evaluate a basic marketing plan for an organisation........................................5
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10
INTRODUCTION
Marketing refers to a sequential procedure of procuring of raw material, production,
advertisement, and distribution of product into market for sale. Marketing is a tool for business
which allows the firm to promote company's product and services in market which the potential
buyers will buy in order to satisfy their needs and wants. For this firms utilises a strategy known
as marketing mix to know various types of market in which they are going to offer their product
or service for successful utilization by potential their customers (Abedi and Abedini, 2017).
Marketing is an essential component in business success which helps firm to promote its sales
and attract customers attention towards company. In the present report marketing essentials of
Kingfisher Plc is being discussed by analysing various aspects such as its roles and
responsibilities within the organisation as well as inter-relationship with other departments of
Kingfisher Plc. The concept of marketing mix such as 7P's of marketing are mentioned in this
report with respect to company. Further in the same report a marketing plan is formulated by
researcher which is bringing a new product in market with a motive of expansion and all the
necessary required information are listed through SOSTAC model which presents all the details
of new product of company.
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TASK
LO 1 Contained in PPT.
TASK 2
P3: Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives.
Marketing mix is the tool that helps to provide all the essential strategies which makes
the companies to increase the market value of there organisation and also to increase the growth
of the company. There has been seen that all the organisation tends to increase the growth by
making there products more valuable then any other, as there is varies competition in the market
this has been termed as the most important element (Kotabe and Helsen., 2020). Marketing mix
implies to provide all the strategies which upholds the growth of the company with its product in
the market. Thus marketing mix is the external tool which guides and give all the essential areas
that are important for the company and also for all the growth of markets. It is a strategic action
that every organisation employs to have high brand image and sales in market. It comprises of
7P's of marketing that is Product, Price, Place, Promotion, Process, People and Physical
Evidence which helps company to achieve success and enjoy higher revenue as compared to
other firms which is discussed below:
 Product: This refers to the type of product or service which customers demands and is
offered in market.
 Place: This comprises of a market where the product is to be sold.
 Price: It includes the purchase cost of product or service.
 Promotion: This includes advertisement made for promoting company's product or
services.
 People: It comprises of company's employees and sales person and all those who works
for company to achieve its target.
 Process: This refers to a procedure which is included in delivery of product and services
to the ultimate user that is customers.
 Physical evidence: This comprises of product's packaging, labelling, branding, etc.
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Kingfisher Plc marketing mix is compared with its competitor that is The Home Depot
who offers similar product to UK market. The comparison in respect of marketing mix is done
below:
Basis Kingfisher PLC The Home Depot
Product This company deals in home décor items
such as furniture, garden and plant
suppliers, home appliances, tools and
hardware, etc.
This company deals with the
retail service with all the home
improvement products that are
variable from the third parties.
Price Kingfisher Plc adopts various pricing
strategies based on demand and value of its
products such as its seat covers are costly
then cushions. It uses price penetration
strategy in its products.
The home depot company use
the Everyday low price(EDLP)
strategy in order to attract
customers by giving the low
prices to the company.
Place Company is having more than 1400 stores
in market worldwide. Hence offers it s
products via physical stores as well as
through its website.
As home décor has varies
leading brand it mainly covers
all the online stores and also
the ware house of there own
that means the physical stores.
The company also deals with
as by having a mobile app of
there own in order to reach
maximum customers.
Promotion Kingfisher Plc adopts online marketing as
well as offline marketing in a way such as
email and website advertisement in the
category of online promotion and banners
in offline marketing.
The company use various
strategies that helps in the
growth of the company as they
promote there products
through advertising, sales
promotion, public relations and
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also through direct selling. All
these helps to gain more
customers even when they are
not moving out from there
homes.
People Kingfisher Plc is supported by more than
3,800,000 employees and management
team who are working at all physical
stores and at headquarter.
Company is having approx
3,50,000 people including
employees, workers and
management team working for
The Home Depot at
multinational level.
Process Kingfisher applies newest technological
tools and equipments in manufacturing its
products as well as latest technological
software in process and service delivery.
The company uses latest
updated technologies in its
process of production.
Physical Evidence Kingfisher Plc operates with more than
1400 stores which are functions physically
in more than 8 countries throughout the
globe.
Home Depot comprises of
approx 2200 physical stores
across America and UK.
M3: Evaluate different tactics applied by organisations to demonstrate how business objectives
have been achieved.
The term tactics refers to a plans that are being developed for short term with small plans
that are being executed in order to cater more customers towards company's product and
services. This comprises of offers that are being provided by company in order to boost its
promotional plans for marketing like buy one product and get one free along with it, some
discount on purchase of specific amount of items, etc. in order to achieve its objectives through
increase in sales and generation of higher revenues. Company can also launch some special
products during festive season or for special day like mothers day. Fathers day, etc. with its
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customised products that will enhance company's sales during season that assists business in
achieving its objectives through large revenues generated with such short term plan.
TASK 3
P4: Produce and evaluate a basic marketing plan for an organisation.
A term marketing plan refers to a framework for strategical plan which guides a company
to formulate a promotional strategy with a motive to sell its product or services to target
customers. The marketing plan needs an adoption of effective activities which can help company
to gain competitive advantage and promote its product flawlessly.
Kingfisher Plc Overview:
Kingfisher Plc is a big multinational giant deals in home décor products such as furniture,
garden and plant suppliers, home appliances, tools and hardware, etc. A company is having its
headquarter in London, UK with a establishment since 1982. Kingfisher Plc operates for more
than 1400 stores having across world such as France, Romania, Poland, etc. covering 8 countries
in world.
Executive Summary:
The company Kingfisher Plc is planning to expand its business by launching their new
product that is providing products which are used in Car Decor. This will comprises of seat
covers, GPS navigators, Puncture repair kit, air freshener, etc. In this marketing plan company is
using SWOT Analysis and SOSTAC model which stands for Situation, Objectives, Strategy,
tactics, Action and Control. The model is considered as strategy for marketing which every
company uses at the time of introducing new product in market or planning for new marketing
strategies. SWOT analysis gives a clear picture of company's potential and its weaknesses along
with various threats and opportunities available for them. The company also prepares a estimated
budget of worth £201,000 which is to be used for production, promotion and delivery of
company's new product that is car décor accessories.
Mission:
The company Kingfisher Plc main aim is to provide home refurnishing or home
development services which can be accessible by people easily.
Situation Analysis:
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A Situation analysis includes SWOT assessment which is being done below:
Strengths
 Handsome capital return, as company is
proved successful in introducing new
product in market and earns good
revenue from the launching. The company is expert in operating into
new international market and
diversifies its functions very
successfully.
Weaknesses
 Weak organisational structure does not
supports firm to apply same into
international market effectively and
also does not fits into new business
model.
 Company is needed to adapt new
technologies and make investment in it.
Threats
 Increased competition in market due to
high profit generation under the
industry which increased number of
firms offering similar products. Frequent change in customers
preference due to updated technology
and increased purchasing power of
buyers.
Opportunities
 Adaption of new technology is an
opportunity for the firm to apply
different price strategy while entering
into new market.
 Another opportunity is to increase its
sales by offering its products online
especially on such websites which are
mostly accessed by people.
Objective:
The main objectives of company Kingfisher Plc behind introduction of new product is to:
 Increase company's sales within 3 months time period,
 Earn higher revenue compared to existing within a time period of 4 months, and
 Increasing its span of operation by having more market share in industry within 6
months.
Strategic Analysis:
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The analysis includes strategies which company will use to launch its new product into
market. This includes STP analysis which stands for Segmentation, Targeting and Positioning of
product in market.
 Segmentation: The segmentation component for strategic analysis talks about various
segment of market in which product is going to be sold. Such as demographics, psycho-
graphic, geographic and behaviour of customers in market. Kingfisher Plc offers its car
décor accessories to racing industry, or car manufacturing industry.
 Targeting: This comprises of specific market in which company make available its
products of car décor. In this step Kingfisher Plc will identify market of potential
customers who will actually buy car décor accessories. Kingfisher Plc will target Racers
who tends to keep their car updated with all the necessary requirements.
 Positioning: The last stage in STP analysis talks about placing of company's product or
services which includes adoption of marketing channel. Kingfisher Plc is going to follow
traditional channel of distribution for its new product that is car décor accessories. The
company is supplying its product through distributors or can be directly purchased from
Kingfisher Plc.
Tactics:
This component of SOSTAC analysis comprises of certain tool that is 4 P's of marketing
mix which is applied in successful launching of new product. 4 P's includes Price, Product, Place
and Promotion. For kingfisher Plc new product the 4 P's are discussed below:
 Product: This includes car décor accessories such as seat covers, GPS navigators,
Puncture repair kit, air freshener, etc.
 Price: Kingfisher Plc will offer certain price for its new product accessories such as Seat
cover for £5400, Air freshener worth £134, puncture repair kit for £150, and so on.
 Place: Kingfisher is going to sell its product in market through distributor and also make
available online through direct selling.
 Promotion: The Company Kingfisher Plc will promote its product via banners as well as
website advertisement.
Action Plan:
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The action plan includes all those tasks and activities which are done to make product
successful in market and are made in order to achieve company's objectives.
This comprises of budget containing expenses related to car décor accessories. A budget
is an hypothetical figures which are made to know the idea of expenses and revenue in making
and selling certain product and services into market. Budget is a financial representation of
estimation prepared by keeping future target in mind and is prepared for subsequent year. The
budget for Kingfisher Plc new product is below:
Particulars Amount (£)
Print media 9000
Plant and machinery 150000
Promotional activity 25000
Marketing 17000
Total 201000
Kingfisher Plc will require amount of £201,000 in order to sell its new car décor
accessories product into market. Which will be utilised for expenses such as in plant and
machinery used in production, Print media, promotional activities used in order to promote
company's product in market, marketing, etc.
Controlling and Monitoring:
The concept talks about KPI and benchmarking of product. The controlling and
monitoring in relation to Kingfisher's Plc new product is below:
Key Performance Indicator:
 Sales: High sales will take company to achieve higher profits in this product range of Car
décor accessories
 Average Downtime: This includes minimum time usage in production of car décor
accessories. Lesser the time use leads to more production of products.
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 Safety Indicator per Employee: This comprises of safety of labour who is working in
production process of car décor accessories. Safety indicator is helpful in measuring
workers safety.
Benchmarking:
The products of Kingfisher Plc are produced with a benchmark of reducing pollution and
utilising less plastic and leather in its products such as seat covers made from good fabric, herbal
air freshener, etc.
M4: Produce a detailed, coherent evidence-based marketing plan for an organisation.
The development of coherent evidence based marketing plan for an organisation is done
by implementation of 7p's of marketing mix which is mentioned below:
 Pr
od
uct
:
The company Kingfisher Plc is coming with a launch of its car décor products such as
seat covers, GPS navigator, car freshener, etc.
 Promotion: This includes advertisement or promotion of company's product under which
Kingfisher Plc is going to promote its new product via digital or television ads, banners,
website advertisements.
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7P's of Marketing Mix

 Price: Kingfiher Plc will set different prices for its products such as seat covers will carry
higher price then freshener or repair kit will be priced much cheaper then GPS navigator
price, and so will be according to their features and usage.
 Place: Kingfisher plc is going to offer its new product in physical market as well as on
digital platform via websites and distributors.
 People: Company will target to such people who are car lovers or having a passion of
driving car such as racing or competition.
 Process: Company will follow a sequential process of supply chain in order to have
effective manufacturing as well as proper delivery of product to market.
 Physical Evidence: This comprises of physical structure of car décor items that
customers will buy by knowing its packaging, design, etc.
D2: Design a strategic marketing plan that tactically applies the use of the 7Ps to achieve overall
marketing objectives.
The 7p's of marketing plan comprises of product, place, promotion, process, physical
evidence, price and people which is related with company's offering in market. The 7p's defines
all necessary element in order to have effective sales through mentioning about product's price,
market, potential customers for whom the product is useful, etc. that helps company to have
proper presentation of their offerings which attracts customers to buy such item and helps
business to experience large sales. Increment in sales bring higher revenues of the firm which
fulfils or satisfies its objectives. The another with with 7p's helps to achieve overall marketing
objectives is that an effective marketing plan allows companies to know several issues that takes
birth during planning marketing strategy for new product that can be solved at initial stage
through defining and designing strategic marketing plan which ultimately helps company in
achieving its marketing objectives.
CONCLUSION
It is concluded from the above report that, Marketing is the most important element all
then organisation as it helps to promote the growth and the culture of all the companies. There is
seen that the key role of the marketing is that this use to be managed by the social media, there
are varies responsibilities of the market in order to work and promote there products with the
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ongoing trends in the market. The financial department of the companies due to play an
important role in all the company. Furthermore it is analysed from the above report that
marketing environment have to be effective in order to maintain the image and the balance
between the company and the environment . The marketing mix and the SWOT analysis of the
company are tools that helps to know the internal and the external factors of the areas. In order to
frame all the better growth the Kingfisher plc has to use all the technological available areas and
with that all the internal and external factors that are important for the growth of the company.
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