Analyzing Tesco & ASDA Marketing Mix for Morrison's Luxury Food Line

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Added on  2023/06/15

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This report provides a comparative analysis of the marketing mix strategies employed by Tesco and ASDA, focusing on product, price, place, and promotion (the 4Ps). It benchmarks these strategies to offer justified recommendations for Morrison's, particularly for their planned launch of a luxury food product line. The analysis highlights the importance of a diverse product range, competitive pricing, effective distribution channels (both online and offline), and leveraging social media for promotion. Recommendations for Morrison's include ensuring product quality and variety, setting affordable prices based on consumer behavior, utilizing both online and offline platforms for product availability, and enhancing digital marketing efforts along with public relation programs to increase customer interaction. The report concludes that benchmarking competitor strategies is essential for gaining market insights and implementing effective marketing strategies to attract customers and achieve business objectives.
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UNIT 2 MARKETING
PROCESS AND PLANNING
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TABLE OF CONTENTS
PART 2............................................................................................................................................3
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P3 Comparing the ways under which different organization adopts the marketing mix in order
to achieve the over all business objectives..................................................................................3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
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PART 2
INTRODUCTION
Process benchmarking refers to the process of focusing on the selected product or product line in
order to increase the effectiveness of that particular product. This process adds glory on the over
all production process of that particular product. It involves adding improvement in the product
after analysing the competitor's strategies. This report will illustrate the marketing mix of two
luxury product food lines that is TESCO and ASDA. These firms are the competitors of the
Morrison. The effective benchmarking analysation of these two firms marketing strategies will
provide the idea of improvement that has to be taken by Morrison in order to increase the
customers share in the market in relation of launching luxurious line of food products.
MAIN BODY
P3 Comparing the ways under which different organization adopts the marketing mix in order to
achieve the over all business objectives
Marketing mix refers to the proper planning all those steps that is related the product, price, place
and promotion. These elements has been considered as the 4PS of the marketing (Thabit, T. and
Raewf, 2018). As Morrison company is planning to launch the luxurious line of food products.
Therefore, it is important to analyse the competitor's marketing strategy. As this helps in getting
the ideas that are needed for the improvement in the products. An effective strategy is needed in
order to maintain the quality of existing product along with launching new product.
4 PS ASDA TESCO
Product The company is providing the
different range of food
products such as drinks, frozen
food, bakery, food cupboards
and groceries. The company is
providing the non-food
products as well.
The firm is ensuring the
varieties of food to their
consumers. This results in
TESCO is ensuring large
number of products to their
customers in the field of food
and non-food as well.
As the analysation is about the
food line production.
Therefore, it has been found
that the company is providing
the different range of food
product (Blut, Teller and Floh,
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attracting the large number of
consumers.
2018).
Price The firm has adopted the
competitive pricing strategy.
The firm monitors their
competitors and on the basis of
that, the prices has been
adopted by the firm. As a
result, this helps the company
in order to compete with their
competitors.
The company has adopted the
low pricing policy. This is one
of the biggest advantage to the
firm (Huang, Xu and Lim,
2021). It helps in sustaining
the customers.
Place In order to make products
available for the customers the
company has adopted the large
number of wholesalers as the
wholesaler ensures the
distribution of the products
towards different retailer.
The company is focusing on
the online delivering of the
products as well (Mahmoud,
2018). As a result, the large
number of sales has been made
by the firm.
The organisation has adopted
the direct and indirect channel
for delivering the product to
the customer.
The company has appointed
the large number of
wholesalers and retailer as
well in order to make products
available for the customers.
It has been found from various
studies that the firm is not
active on the online platform
(Sudari and et.al., 2019).
Promotion In order to promote the
product the company is using
the social media as their
weapon. The firm is highly
active on social media. And
this ensuring the effective
The firm is using their low
pricing policy as their
promotional tool. This is the
vital element that has been
used by the firm in order to
advertise the product of the
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outcomes to the firm. As large
number of customers are
highly active on social media.
company.
Justified recommendations for the Morrison on the basis of the above analysation:
On the basis of the above analysation, it can be said that the marketing strategy helps in
gaining the attention of the consumers as the competitors of the Morrison has adopted the
effective marketing strategy and this enabling them to increase their market share. The product
element enabling the firms to attract the customers by ensuring them different products. The
pricing factor helping the firm to grab the attention of the consumers. The place element making
the products available to the consumers. And the promotional tool makes the customers aware
about the products (Wacker and Samson, 2021). As results, the customers are attracted towards
the firms and this helps in achieving the objective of the firms. On the basis of the above
competitor's research here are the justified recommendations for the Morrison in order to adopt
the effective marketing strategy.
As the company is launching the luxurious product line in the field of food. This has to
make sure that the products that are produced should consist of different range and along with
the quality of the product has to be maintained. As the competitor firm are already providing the
different ranges. Therefore, in order to become different from them it has to be make sure that
Morrison company must ensure quality along with different varieties. The luxuriousness can be
maintained by ensuring the effective health in the product as the competitor firms are not
providing this value in their product (Jindal and et.al., 2020). In order to set the prices, the
company must focus on studying the consumer behaviour. The consumer wants the effective
quality in the affordable prices. Setting affordable price along with providing the benefit of
health and quality will attract the large number of consumers towards the firm.
On the basis of Place analysation it has been found that the company must use the offline
and online platform as well for making products available to their customers. The competitors
rely more on offline platform. Therefore, this is an opportunity to grab. While performing the
benchmarking analysation over the competitors it has been found, for promoting the product the
social media marketing has been used by them (Siripipatthanakul and Chana, 2021). And this
results in grabbing the customer attention. Therefore, the Morrison must increase their digital
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marketing by using different digital marketing tool that ensures the effective interaction with the
customers. Along with this, the company must organize public relation programmes in order to
increase the interaction with the customers.
CONCLUSION
From the above report it has been concluded that process benchmarking is the effective concept
that helps in analysing the market data and also helps in using the collected data in effective
manner. The report also describes that, it is important to analyse the competitor's strategy as it
helps in gaining the idea of implementing the effective strategy. The report has highlighted the
marketing strategy of the competitors of Morrison. The process of benchmarking helped in
gathering the data and it also enables in adopting effective strategy as well.
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REFERENCES
Books and Journals
Blut, M., Teller, C. and Floh, A., 2018. Testing retail marketing-mix effects on patronage: A
meta-analysis. Journal of retailing. 94(2).pp.113-135.
Huang, H.C., Xu, J. and Lim, A., 2021. Marketing mix optimization with practical
constraints. arXiv preprint arXiv:2101.03663.
Jindal and et.al., 2020. Marketing-mix response across retail formats: the role of shopping trip
types. Journal of Marketing. 84(2). pp.114-132.
Mahmoud, T.O., 2018. Impact of green marketing mix on purchase intention. International
Journal of Advanced and applied sciences. 5(2). pp.127-135.
Siripipatthanakul, S. and Chana, P., 2021. Service Marketing Mix (7Ps) and Patient Satisfaction
in Clinics: A Review Article. International of Trend in Scientific Research and
Development. 5 (5). pp.842-850.
Sudari and et.al., 2019. Measuring the critical effect of marketing mix on customer loyalty
through customer satisfaction in food and beverage products. Management Science
Letters. 9(9).pp.1385-1396.
Thabit, T. and Raewf, M., 2018. The evaluation of marketing mix elements: A case
study. International Journal of Social Sciences & Educational Studies. 4(4).
Wacker, J.G. and Samson, D., 2021. Beyond supply chain management: jointly optimising
operations/supply and the marketing mix. Operations Management Research. 14(3).
pp.451-466.
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