Marketing Management and Planning: K-Mart, University Report

This report offers a comprehensive analysis of K-Mart's marketing management and planning within the Australian market. It begins with an executive summary highlighting the report's focus on marketing objectives, segmentation, target markets, positioning, and the marketing mix. The introduction identifies key challenges K-Mart faces, including competition and the need to better understand its target audience. The report details K-Mart's marketing objectives, emphasizing the need to satisfy family needs, promote its services, and leverage technology. It then delves into segmentation, targeting, and positioning strategies, exploring how K-Mart can effectively segment the market, identify its target audience (primarily families and office goers), and position its offerings. The marketing mix is examined, covering product, price, place, and promotion strategies. The conclusion reiterates the importance of marketing management and planning for K-Mart's success in the competitive retail landscape. The report leverages the SMART goal framework and Maslow's Hierarchy of Needs to provide a structured approach to K-Mart's marketing challenges. It includes figures to illustrate concepts like SMART goals and Maslow's Hierarchy of Needs.

Running Head: MARKETING MANAGEMENT AND PLANNING: K-MART
Marketing Management and Planning: K-Mart
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1MARKETING MANAGEMENT AND PLANNING: K-MART
Executive Summary
The research report focuses on a clear idea implement the marketing management and
planning of K-Mart. The report provides idea on the marketing objectives as well as
segmentation, target market and the positioning of the organization in the marketplace. The
report also focuses on the marketing mix which is considered to be an important aspect for
the organization to flourish in the process and assist them to attract the consumers from the
marketplace. Lastly, the report focuses on the conclusion with respect to the importance of
marketing management and the planning for the firm so that they can obtain the target of
what they intended to obtain in the process.

2MARKETING MANAGEMENT AND PLANNING: K-MART
Table of Contents
Introduction................................................................................................................................3
Marketing Objectives.................................................................................................................3
Segmentation, Target Market and Positioning...........................................................................6
Segmentation..........................................................................................................................6
Target Market.........................................................................................................................7
Positioning..............................................................................................................................7
Marketing Mix...........................................................................................................................8
Product...................................................................................................................................8
Price........................................................................................................................................9
Place.......................................................................................................................................9
Promotion.............................................................................................................................10
Conclusion................................................................................................................................11
References................................................................................................................................12

3MARKETING MANAGEMENT AND PLANNING: K-MART
Introduction
This report solely focuses on marketing management as well as planning that has been
taken up by K-Mart in the Australian market. The report will look after the strategies that the
company has undertaken for the next 12 months so that if there is any type of issue that might
arise can be addressed efficiently by the company and assist them to operate in an effective as
well as efficient way possible.
Some issues are being faced by the company while competing with renowned
competitors in the Australian market. K-Mart requires to look into the matter that they are
facing so that they can get the solution to eliminate the problem from their business model.
This will ultimately enable them to flourish in the market and to get an additional advantage
in the marketplace so that they can compete with the other big companies in the industry
(Scarborough, 2017). The major problem that the organization is facing in recent time are:
 The organization is unable to identify the market as well as the target audience,
whom they require to target so that they can get attracted to the firm. This will
help them to generate revenue in it and to compete with the other competitors in
the industry.
 The firm requires to look after the customer satisfaction of the generational group
so that they can retrieve the customers in the process. These customers will turn
out to be loyal customers of K-Mart. But, the firm is facing a problem that needs
to be resolved so that they can flourish in the market and can add more customers
in this group of people (Roberts et al., 2015).

4MARKETING MANAGEMENT AND PLANNING: K-MART
Marketing Objectives
This is critical for K-Mart to adopt a strategy which will assist them to compete with
the other competitors in the marketplace and to build their brand image in the process. The
organization is on the verge of getting bankrupt and this is the only way for the company to
flourish in the industry if it can achieve its marketing objectives. This will automatically
enable them to obtain target in the process and let them attract the customers towards them in
the process. The firm also need to adopt the technologies as well in its business model for the
next 12 months so that they can:
 Satisfy the family’s daily need by selling a high volume of goods at the lowest
price possible along with that active stores so that the customers feel satisfied in
the process. This will ultimately assist the organization to spread the awareness
regarding the product and the service that it is providing to its customers. This will
automatically assist the firm to flourish in the industry as well as provide them
with the advantage to compete with the other competitors in the marketplace
(Stowell & Stowell, 2017).
 K-Mart also needs to look after the strategy so that it can promote itself in the
process making the customers aware of the existence of the organization and the
service that they are providing to the consumers (Rojček, Černák & Janiga, 2017).
To achieve the target the company requires adopting the strategy which will enable
them to produce a large volume of goods at a low price so that they can maintain a profit
margin as well in the industry to survive and to gain popularity in the marketplace. Certain
things can be done by the organization so that they can lure the consumers in the process and
they are:

5MARKETING MANAGEMENT AND PLANNING: K-MART
 The organization requires collaborating with the producers so that the production
of the essential goods can be increased and they can provide discounts in the
goods to the generational group, which will enhance the popularity of the
organization in the industry.
 To make the consumers aware of the offers and the discounts the company needs
to use the social media platform so that they can reach the customers in less
possible time (Islam et al., 2016).
 The firm also needs to include the technology so that they can start the mobile
ordering facility for the consumers as people are more into online shopping
whether it is clothes or other commodities. This will automatically increase the
sales of the organization and assist them in grabbing the attention of the people in
the process.
To do so the firm requires adopting the SMART strategy so that they can segregate as
per the needs and wants of the consumers and demand in the marketplace. This will
automatically enable them to flourish and to lure consumers from the process. As there is
huge competition in the marketplace and the company wants to flourish and to gain a huge
share from the market so the company needs to analyze the strategy as per the SMART
strategy which will ultimately enable them to expand in the marketplace and this need to be
done with the 12 months timeframe.

6MARKETING MANAGEMENT AND PLANNING: K-MART
Fig. 1: SMART Goal
(Source: Mulder, 2020)
Segmentation, Target Market and Positioning
As per the external analysis, it can be noted that K-Mart wants to increase its sales by
2.7% in the Australian retail market. Therefore, it is essential for the organization to look
after the segmentation as well as the target market and the firm requires to position its
product and service in an efficient way possible. This will enable the firm to flourish in the
marketplace and to achieve success in it. These are essential as well as vital for any firm to
look after so that they can attract the consumers in it (Bailey, 2016). This section assists the
organization to understand the needs as well as wants of the consumers and demand and
supply in the marketplace, which is crucial for any organization to operate in an efficient way
possible and let them obtain the target what they have set in the process.
Segmentation
K-Mart as they are operating in the retail industry in the Australian market so they
need to segregate the market in an effective way possible so that the organization can place
their product according to in the market. The company also requires to look after the demand
and supply in the market so that they can adopt the plan and strategy accordingly, which will

7MARKETING MANAGEMENT AND PLANNING: K-MART
enable them to establish their image in the process (Blanchard, Aloise & DeSarbo, 2014).
The company needs to provide the consumers with discounts so that they are being attracted
to the company and let them avail of the service and the product in the process. This will
ultimately enable the firm to compete with the competitors in the marketplace and let them
become successful in the process. This is a critical factor that the organization should rightly
address so that it can become popular among the consumers and let them gather revenue in
the process (Ellickson, Houghton & Timmins, 2013).
Target Market
As per Maslow's Hierarchy of Needs, the firm needs to target the audience as per their
needs and wants and the market demand. This will assist the company in increasing its sales
in the marketplace. The firm needs to target mainly the family person and the office goers so
that they can sell their products and services in the process (Ural, 2016). There are five
parameters that the company requires to fulfill in its target market strategy so that they can
efficiently target the audience and quite effectively so that they avail of the products and the
services from the marketplace. Therefore, it can be said that the organization requires to look
after the matter, which will help them to gain success in the process.
Fig. 2: Maslow’s Hierarchy of Need
(Source: Created by Author)

8MARKETING MANAGEMENT AND PLANNING: K-MART
Positioning
K-Mart as they want to target the young as well as adults of the family so they need to
position its discounts and the services that they are providing in the market to place in the
digital as well as a social media platform. This is necessary for the organization to understand
so that it can promote its products and services in the marketplace. This will assist them to
become popular in the marketplace and quite essential for them to lure consumers in it. This
is essential for the firm to flourish in the marketplace and to obtain success in the process
(Connor Reed, 2019). Therefore, it is essential for the company to position themselves in an
effective way possible and the digital media and the social media will enable them to reach
out to the consumers in an effective way possible and in less possible time, which is
necessary for the expansion of the firm in the Australian marketplace and will assist them to
achieve the target in the process.
Marketing Mix
The firm K-Mart requires looking after the marketing mix so that they can obtain
success in the marketplace and will be able to lure the consumers in the process. This is vital
for all the organizations that are dealing in the retail market to look after the marketing mix
so that they can possess the understanding regarding the market condition and how its
product is doing in the process (Roberts et al., 2015). This is so as it will enable them to
understand if any sort of strategic modification is required in the process or not. The 4P’s of
the marketing mix are namely:
Product
K-Mart is operating in the retail market sector and that is the reason the company
needs to look after the products that they are selling to the consumers. This is an essential
factor for the company as they are mainly dealing with the products, which is essential for

9MARKETING MANAGEMENT AND PLANNING: K-MART
them to obtain success (Goldberg, Fishbein & Middlestadt, 2018). The company needs to
provide the best quality product to the customers so that they can compete with them and
assist them to gain success in the process. Therefore, K-Mart requires looking after the
market demand and taste as well as the preference of the customers so that they can provide
the products which are mainly necessary for the consumers. The company can also provide
discounts to them to grab the attention of the consumers in an effective way possible and
assist them to gain success in the process (Vyravene & Rabbanee, 2016).
This is crucial for the organization to become a success in the marketplace and
achieve the success that they are willing to obtain in the process. Hence, these aspects enable
the organization to lure the consumers and assist them to generate revenue in an efficient way
possible.
Price
The organization requires to provide the consumers with the lowest possible price
after maintaining a certain amount of profit so that they can compete with the other
competitors in the marketplace. The company must provide value for the money to retain
them in the process. The price plays a crucial aspect for the flourish of the company in the
market and as K-Mart is dealing in the retail market and that too in Australian marketplace so
it will be important for the company to maintain the lowest price along with that should
provide the consumers with discounts so that they can retain them and can convert them into
the loyal customers (Gurav, 2016). Hence, it is necessary for K-Mart and quite important for
them so that they can grab the attention of the consumers from the marketplace and that will
help them to expand in the process.
The firm requires looking after the pricing strategy as well so that they can set the best
possible price for the consumers to avail of the product and service from them. This is

10MARKETING MANAGEMENT AND PLANNING: K-MART
necessary for the organization to look after so that they can flourish in the marketplace and to
do so the company requires to place their product and price them in an effective way possible
so that they can attention the consumers and can flourish in the marketplace (Damavandi,
Abdolvand & Karimipour, 2018).
Place
K-Mart wants to capture the Australian market and that is the reason the company can
understand the place where they are required to place its products. This is essential for the
organization as they need to understand where they are operating and what the market
demands so as to be effective in the process (Suharto, 2017). This will enable the company to
flourish in the Australian marketplace and help them to achieve the success which they are
willing to gain from the marketplace. Therefore, it can be noted that the company has done
the survey and as per the survey, they will place their product in the marketplace so that they
can attract the consumers whom they want to target from the market and for that place need
to be kept in mind and the situation in which the organization is operating in the marketplace
that is also very much crucial for the growth of the organization in the marketplace and to
gain the popularity in the process (Madhani, 2017). Hence, it can be said that the company
can distinguish between the place and the demand that is there in the marketplace and assist
them to achieve success in the process.
Promotion
K-Mart requires to promote its product through social media as well as with the help
of digital media as it is essential for the organization to understand the consumer's reach of
the social media as well as digital media. This will assist the firm to flourish in the
marketplace and enable them to achieve success in the process. This requires to be
understood by the firm so that they can adopt the appropriate strategy which will be
beneficial for them in the expansion process and help them to achieve the same in the

11MARKETING MANAGEMENT AND PLANNING: K-MART
marketplace (Payne & Frow, 2013). Therefore, it can be said that the organization requires to
understand the market needs and wants which will assist them to adopt the platform which
will be appropriate for them and assist them to gain success in the process. Hence, it can be
said that the social media platform is quite effective and let the firm gain popularity in the
marketplace and also the organization will be able to promote its discount plans which will
also reach the customers in less possible time and will make them popular in the process. So,
the company must become successful and let them achieve the same in the process and assist
them to generate revenue in the marketplace (Arif, 2016).
Thus, it can be noted that the marketing mix is necessary for the expansion of the
organization in the marketplace and as K-Mart is operating in the Australian market and retail
industry so the organization requires to look after the marketing mix and let them achieve the
success in the process.
Conclusion
In the end, it can be seen that K-Mart has adopted the strategy which will enable them
to operate in an effective as well as an efficient way possible and help them to flourish in the
marketplace. This is quite vital for the organization to look after the strategy and gain
knowledge regarding the market as well as the taste along with preference of the consumers
so that they can place its products and price them accordingly. This will assist them to expand
in the marketplace and to achieve success in the process and let them become popular among
the consumers in the process.