Comprehensive Report on Marketing Process and Planning at Morrisons

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This report provides a detailed analysis of Morrisons' marketing process and planning strategies in the 21st century. It covers the concept and definition of marketing, the role of marketing functions within Morrisons, and how the marketing function interacts with other departments. The extended marketing mix elements are explained with examples, evaluating their contribution to organizational objectives. The report also includes a strategic marketing plan linked to the overall organizational mission, corporate strategy, and objectives. Marketing research, situational analysis using SWOT, PESTLE, and 5C analysis, competitor analysis, and the development of marketing strategies applied to the extended marketing mix are discussed. Furthermore, it outlines the setting of a marketing budget, tactical actions, control and monitoring measures, and a comprehensive media plan with budget allocation and rationale for selected multimedia activities. The report concludes with recommendations and a justification for the multi-media plan.
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Unit 2 Marketing Process and
Planning
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TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................4
PART 1............................................................................................................................................4
The concept and definition of marketing in the 21st century:.....................................................4
The role of marketing functions of Morrisons with examples:....................................................5
An analysis of how the marketing function works and interacts with other departments:..........6
An explanation of extended marketing mix elements and examples of Morrisons: ...................7
Evaluating how marketing mix adopted by Morrisons contributes in the success of
organisational objectives: ............................................................................................................8
Recommendations:.......................................................................................................................8
PART-2: MARKETING PLAN......................................................................................................9
1.0 How the strategic marketing plan links with the overall organizational mission, corporate
strategy and objectives.....................................................................................................................9
Mission:........................................................................................................................................9
Corporate strategy:.......................................................................................................................9
Objectives:...................................................................................................................................9
2.0 SMART and Clear marketing objectives...................................................................................9
3.0 Marketing research to support the new product launch ..........................................................10
4.0 Situational analysis..................................................................................................................10
4.1 marketing audit, making use of appropriate analytical tools including SWOT, PESTLE and
5C analysis.................................................................................................................................10
4.2 A competitor's analysis including the market segments......................................................12
4.3 Sub-segments:......................................................................................................................12
4.5 Development of the marketing strategies applied to the extended marketing mix:.............12
4.6 setting of an overall marketing budget, including allocation of planned spend-.................13
4.7 Tactical actions to be taken:.................................................................................................13
4.8 Identifying appropriate control and monitoring measures to ensure achievement of
objectives including metrics to measure success:......................................................................13
5.0 A comprehensive media plan that supports the planned marketing campaign:...................14
5.1 Media budget:......................................................................................................................14
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5.2 Recommendations and rationale for selected and integrated multi-media activities within
the set budget that meet the marketing objectives:....................................................................15
5.3 Appropriate digital, offline and social media channels for communication:.......................15
5.6 Full justification for a multi-media plan based on quantitative and qualitative criteria:.....15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
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INTRODUCTION
A methodological and systematic approach for forecasting, planning, and coordinating all
the marketing activities to achieve all the organisational objectives successfully. It involves
structuring and forming of effective and efficient marketing techniques and strategies that can
help to attain competitive advantage. Therefore, the following brief will be focused on how the
largest supermarket chain in UK, Morrisons, is being operated in the industry and what all
challenges it faces in its operating activities. Its headquarters being in England, it started as a
small scale operator and now has become the largest supermarket chain in UK with its effective
marketing strategies. It will also be mentioned that what is the role of marketing and its
interrelationships with other departments. How marketing mix can help achieve overall business
objectives and what are its different elements. Getting further, a marketing and a media plan will
be framed for better understanding of the marketing and planning process.
PART 1
The concept and definition of marketing in the 21st century:
Marketing in the 21st century is a broader term and concept than it was earlier. Nowadays
marketing does not only mean the process of buying and selling and interacting with one another
in the course of action but it has evolved over the simple concept of earning profit. Customers
are treated as the king and their satisfaction is prime responsibility of the ones operating in the
market (Akbar. French. and Lawson. 2019). Marketing management has now become the art and
science of choosing target markets, segmenting the products and services according to the age
groups, regional differences, and the behavioural changes of people in particular territory. In
accordance with the consumers' needs and wants, there should be a positive interrelationship
between the forces of demand and supply to maintain the integrity in the cost of productions and
outcomes produced.
The 21st century has experienced a new type of marketing economy because of the
presence of technologies and innovation. These technologies and innovation techniques are
widely practised across the globe to reach out to more audience and admirers of products and
services. The old economy and its constituents concentrated only on providing customers with
the standardised and customized products in order to attain profitability rates. Customer
satisfaction was never considered useful since attention was only to attain success rates through
buying and selling process. There are many amendments made in this era of marketing where
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along with physical evidence, online presence is also prominent to survive in the competitive
industry's long run (Patsiaouras. and et.al., 2019). Reaching out to the customers is not the only
motive of the marketing process, advertising, promotion and awareness of the products and
services play similar role in the attainment of organisational objectives.
The role of marketing functions of Morrisons with examples:
The role marketing functions play in the overall marketing activities is prominent because
it displays the efforts of businesses put in connecting with their targeted audiences. As the main
element of marketing is the customer, the marketing functions should also be in accordance with
their requirements and preferences keeping in mind the recent trends and tactics in order to
obtain the customer satisfaction rates. It does not only include manufacturing, sales, and financial
strategies, etc. but the involvement of marketing research and development, planning and
forecasting, packaging and labelling, distribution activities and after sales services, etc (Naujoks.
and et.al., 2020). All these additional activities are of a great importance within the marketing
industry and helps the businesses to earn a great amount of recognition and brand awareness that
is a way to attain favourable competitive advantage and position. While carrying out these
activities, the main task is to properly plan and research about the marketing trends and form
suitable strategies to attract more customer by interpreting their preferences according to the
experiences. The financial planning is the next step in the process where the cost of production
and pricing policies are settled. The marketing functions play a major role in the designing of the
products and services that are to be presented in front of the final consumers. The after sales
services then are a prominent source of generating revenue as it is concerned with the customer
satisfaction.
Morrisons marketing strategies are of an immense importance as these analyse, interpret
and evaluates the framework which can be suitable for the carrying out the business and
marketing activities. It helps the brand to position itself in the industry within the presence of its
competitors. To stand out of the crowd, Morrisons has always operated in accordance with the
technological advances made in the marketing industry to achieve its business goals. In the
recent time, the supermarket chain has received numerous awards and recognitions for its
effective and efficient retailing operations in the market by providing the consumers with fresh
and reliable eateries. The improvement it brought in its customer service, technical updates and
societal responsibilities by maintaining sustainability and integration in its business planning and
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marketing functions, led the firm to set its own unique activities for grabbing a significant
marketing share.
An analysis of how the marketing function works and interacts with other departments:
Marketing function is a business technique that has no meaning if it is not interconnected
with other business departments (Liu. and Wang. 2019). It is a philosophy that has to be spread
throughout the overall business operations of the organisation in order to gain efficient customer
satisfaction rates and competitiveness in the marketing industry. The main task to be done by the
business operators is to meet the customer demands with technical and creative aspects and this
is only possible with the ideas and opinions of different departments within an organisation. The
interactions between these proves out to be an effective marketing strategy while delivering the
corporate plan.
1. Interaction with production management:
The marketing department needs to work hand in hand with the production management
in order to maintain sustainability of consumer demand and supply aspects for the retaining of
them. The production cost that implies the overall reliability of the firm's operational activities in
the market need to be evaluated on daily basis for specifications set by the consumers for their
own needs and wants. The capacity of marketing activities can be carried out and expanded
beneficially within the specified time limit to maintain and preserve daily records and tracks of
how much the productivity has been increased to attain valuable targeted objectives.
2. Interaction with finance department:
The interaction between marketing and finance department can help an organisation to
ensure the financial position by forming effective budgets and other financial documents that are
required to meet the requirements of planning and research about how the activities will be
procured keeping in mind various financial capabilities. As marketing activities require an
adequate amount of funds for reaching out to the customers and targeted audience, interacting
with finance department will be reasonable for both and as well as the organisation to
concentrate more on the essential activities than the less ones.
3. Interaction with the human resource department:
The human resource department highly elaborates how to retain and take hold of the
workforce of an organisation who will render qualified services in the achievement of the overall
business goals and objectives. It has to be made sure that appropriate skills and expertise levels
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are necessary for executing activities related to research and development of new product ideas
and innovative techniques. These can also be able to meet the production demands and create an
ambitious and tactful team that can altogether meet the requirements of the customers with the
help of efficient employees. The team thus formed can also give effective marketing strategies
which will assist in balancing competitive advantage and position.
An explanation of extended marketing mix elements and examples of Morrisons:
1. Product:
This element of marketing mix gives an idea about how and what the company sells by
conducting its overall business operations (Thabit. and Raewf. 2018). It gives a detailed
introduction about the product that will be reached out to the customers in order to satisfy their
needs and demands for better relations with them.
2. Place:
The place mix defines how an organisation will reach out to its customers in an effective
way that will draw their attention towards the offerings of the firm. The channels of distribution,
online and offline platforms, etc. everything is taken into consideration for attainment of
competitive advantage.
3. Price:
The pricing policy of the firm determines how much it can go far for promotion of its
products and services in order to stimulate the customers for purchasing their products. Customer
loyalty is the basic element in this as the customer will interpret, evaluate whether or not it is
worth connecting that determines the revenue generation.
4. Promotion:
All the previously made efforts are being executed in this specific element as it is the
method to engage with the customers. Various advertising models whether offline or online can
create a huge demand among the customers of different age groups and composition according to
the effective marketing techniques for different segments and markets.
5. People:
The operating people of an organisation who contribute towards the achievement of the
goals by implementing their ideas into actions with the use of effective marketing techniques. No
matter what and how the activities are carried out, their value to the organisation is always a
prominent one since they are the reason behind the operational activities as a whole.
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6. Process:
It describes the procedure in which the overall business and marketing techniques and
activities are carried out. It clearly defines how a company can rise up to its limits and meets
customers demands and expectations during a given period of time.
7. Physical evidence:
The tangible evidence of the existence of the company's premises and stability is assessed
in this particular mix. The ambience also plays a prominent role in evaluating the external and
internal environment of the firm. Along with the digital platforms, offline mediums are also
important when it comes to the existence of the business and current position.
In order to be more competitive in the target market, Morrisons has always chosen to
strengthen their strategies for effective utilisation of the resources (Venaik. and Midgley. 2019).
They continue to invest in their pricing policies to serve their customers in the best improved
way. As the firm deals with consumable products, they strive to serve the society in an integrated
way.
Evaluating how marketing mix adopted by Morrisons contributes in the success of organisational
objectives:
The marketing strategies adopted by Morrisons have been very useful for the firm in
order to achieve overall business objectives that help them achieve success rates. Their effective
strategy reflects how to deal with the competitors' strategies and to not get carried away by their
activities. Their increased focus on pricing policy and advanced planning on how to carry out the
basic activities help them in attaining competitive edge that attracts the customers in connecting
with the high quality products and services. Reducing the prices of different products helped
them in their promotional activities with the vision of motivating people to adopt healthy habits
by consuming healthy products. Feedbacks from the audience were effectively optimised and
their visibility rates also increased, thus making Morrisons a successful operating supermarket
chain in UK.
Recommendations:
The marketing process of any business needs a proper path to go in order to obtain new
constituents and elements like people and resources that will help the business to achieve its long
term goals. The marketing goals set should always be in accordance with profile of the target
audience, their preferences and ideologies, etc. should match with the marketing research
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conducted by the officials. In case of Morrisons, being the largest supermarket providing
consumable items need to test and analyse their business and marketing techniques for better
evaluation of its amendments for operational activities.
PART-2: MARKETING PLAN
1.0 How the strategic marketing plan links with the overall organizational
mission, corporate strategy and objectives.
Mission:
The mission of Morrisons UK is “To utilize out experience and design innovation to
provide flexible and responsive solutions to the packaging industry”
Corporate strategy:
The organization is having its corporate strategy to build a great constellation of
customers. In order to get them satisfied number of strategies are to be taken into consideration.
High growth is a long term perspective of the organization.
Objectives:
The objective of Morrison Plc is to keep its prices fair, making mammoth number
customers and grabbing bigger market share in order to be highly productive and lucrative
(Chernev, 2020)
2.0 SMART and Clear marketing objectives
The organization is having rigours need to articulate its objectives in such manner so they
can drive it to align with the intended way of working.
Specific:
There is need to set a clear goal in order to extend better performance to the customers.
Measurable:
The market share of Morrison is now around 9.9% and it desires to make it around 14%.
Attainable:
The goal is highly attainable since if it hikes its market share at around 5-6% per quarter then can
handily curb the aim (Westwood, 2022)
Relevant:
The aim business is striving to achieve is highly relevant since the market dynamics are highly
competitive and with bigger share would be able to sustain in the market.
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Time bound:
The aim has to be achieved in the next one or may stretch it to more four to five months.
3.0 Marketing research to support the new product launch
The organization is planning to introduce a “Pro luxury retail line” it would be paving
way for those customers who are having desire to have lavish and vintage type of retail items.
The market dynamics are also favouring the notion. In UK, top 1% people are having income of
around £160000 per annum (Sumarwan, 2019) which is quite higher and it suggests that there is
need to have such product line where they can fulfil their desire to buy lavish products. With this
regard, some surveys, reports, feedbacks were taken into focus and the conclusion has been
drowned that the trends are now favouring such product line.
4.0 Situational analysis
This is an analysis which describes the prevailing circumstances of the organization and the way
they influence its ability to work in the market. There are some models being used in order to
apply it.
4.1 marketing audit, making use of appropriate analytical tools including SWOT, PESTLE and
5C analysis
SWOT analysis- This model has ability to reflect sort of internal and external dimension of the
organization.
particulars
Strengths The organization is having strong brand
name.
Market share is also wast.
Great ability in term of operations and
supply chain.
Weaknesses Lack of financial interactions with such top
income level customers.
The internal culture is needed to get
reformed.
Opportunities The market is offering ample choices.
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Top income class is getting expanded.
People are ready to spend more.
Threats Sever competition is prevailing there.
The industry is getting changed with hyper
rate.
PESTLE analysis:
Elements
Political factors The move of Brexit would hike the cost factor.
The political dynamics of the nation are not looking much
stable.
Economic factors After hit of Covid-19 the economy is still suffering a lot.
The high income section of society is facing issues like lower
growth (Jaimes, 2020)
Inflation factor can not be ignored.
Social factors The lifestyle changes are getting bigger status and people are
ready to spend more on buying luxury items.
The consumerism is prevailing there with severe intensiveness.
Technological factors Technological improvements come up with great challenge to be
update.
Robotics and AI are changing the way business used to be
conducted.
Legal factors Morrison has already faced some issues, since the organization
is working in around 497 supermarkets.
The legal norms are looking favourable.
Environmental factors The aim of sustainable growth and achieving SDG by the year
2030 may affect the ability of driving higher profits by the
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organization (Reyes, 2021)
5 C analysis:
particulars
company Morrison plc is a strong brand name among its customers.
Collaboration It is having collaboration with Tata consultancy.
customer The organization is having around 1.5 million customers as per the
data of 2018 (Quesenberry, 2020)
competitors Tesco, Sainsbury and M&S are some of the biggest competitors.
context This is having a positive and supportive business context.
4.2 A competitor's analysis including the market segments
The organization is having some key competitors who are there with potential to bring
catastrophe to its ability of carrying out expedition successfully. With this regard the competitor
analysis is as-
Tesco plc Walmart Morrison
Product It is engaged in Clothing,
electronics, food items, furniture,
telecoms etc.
The organization is
offering number of
services such as meat,
dairy items, books and
online shopping
platform etc.
Mainly it is engaged in
food items with its
grocery stores which
are around 497 across
UK.
Market Cap The net work of Tesco is around
29.8 billion USD (Sumarwan,
2019)
429.337 billion USD is
the net worth (Jaimes,
2020)
692.96 billion USD is
the net-worth of
Morrison.
Market
segments
The lower and middle income
people.
Middle income
customers are
targetted.
Young families with
middle income.
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