Marketing Plan for Morrison: PEST Analysis, Objectives, Strategies

This report provides a comprehensive analysis of Morrison's marketing plan, encompassing a PEST (Political, Economic, Social, and Technological) analysis to understand the macro-environment of the retail industry. The report outlines Morrison's marketing objectives, including revenue targets, customer acquisition, and average order value goals. It then delves into segmentation, targeting, and positioning strategies, emphasizing geographical preferences, value for money, and service. The marketing mix, including product, price, place, and promotion strategies, is detailed, highlighting Morrison's focus on quality, competitive pricing, and wide geographic presence. A budget breakdown is provided, covering expenses such as wages, technology, and marketing. Finally, the report outlines actions and control mechanisms to ensure effective implementation and evaluation of the marketing plan, utilizing information technologies for data gathering and performance measurement. The report is designed to offer valuable insights into Morrison's marketing approach.

ASSESSMENT

TABLE OF CONTENTS
LO3 Marketing Plan of Morrison................................................................................................3
REFERENCES................................................................................................................................1

LO3 Marketing Plan of Morrison
PEST of Morrison
The PEST analysis develops deep investigation into the macro-environment of the retail
industry. PEST comprises all political, economical, social and technological aspects which plays
an important role in determining business strategy that will help the organization in overcoming
the challenges facing currently (Fotiadis, 2018). Political: The political factors faces by Morrison are firstly the Brexit issue which is a
major political event and due to which a lot of uncertainty arises because of changes in
policies, rules and regulations. Another one is that political factor has an immense
consequences due to multiple governance legislation on UK food retailers. Economical: Economic factors faces by Morrison while creating their marketing plan is
that because Brexit caused fluctuations in currency which creates inflationary pressure
level on retail sector market. The prices of products such as oil became rise which results
in tighter the household budgets of consumers. Social: With the rising in population, various business opportunities also arises. Another
social factor for Morrison is that the education and health awareness of consumers of UK
also increases.
 Technological: With the help of technological advancements such as digital data which
helps to identify emerging trends and able to serve better to their customers. Investment
in technology also helps the Morrison in order to reduce the wasted efforts and making
the business more efficient in terms of costing.
Objectives of Marketing Plan
 Achieve 15% revenue contribution within a year.
 Acquire 50,000 new customers this financial year.
 Increase the average order value to £50 per customer.
 Increase active customers purchasing at least once in a half year to 200,000 in a market
space.

Segmentation, Targeting and Positioning of Morrison
Segmentation matrix can be used to identify market segments of Morrison. The
customers are segmented on the basis of their preferences to geographical, value of money,
convenience, fresh material available and most importantly service for buying the items from
Morrison (Pyo, 2017).
For targeting the segmented consumers Morrison can adopt targeting strategies. At the
time of increasing market share, undifferentiated strategy is suitable for the organization. With
the help of joint promotional campaigns and exploiting rising trends will help Morrison to target
customers effectively.
The segmented customers will be positioned by implementation of proper advertising
strategies. With the help of offering trending deals to the consumers, high advertisement to
newly opened store and providing excellent goods and services to their consumers Morrison will
position their space in the market (Tafesse, 2018).
Marketing Mix of Morrison Product: Providing superior quality and fresh food is the key for the success of Morrison.
The brand give emphasis on the quality, features, appearance and packaging of goods. Price: Morrison continuously improves their customer offering with the help of lowering
their prices in comparison to other retailers and providing high quality of goods and
services. Place: Morrison serves across the UK. The wide geographic presence is the major
strategy of the Morrison in order to sustain their market image. Promotion: The aim of the company is to offer a pleasant place to their consumers and
offering high quality of products at reduced prices.
Budget
Expenses Cost in £
Wages 1500
Digital technology 1000

Electricity 500
Stationary 400
Marketing expenses 1500
Miscellaneous 100
Total £5000
Action
The actions to make the marketing plan effective for the company can be taken by the
managers of the Morrison by effectively setting marketing goals, marketing audits will be
conducted by managers, market research will be done to analyse market trends and consumers
demands, then analysis of research would be done in order to act accordingly and lastly
preparation of budget according to the marketing strategies in order to evaluate process will help
the total plan to be implemented effectively.
Control
With the help of effective information technologies, the data will be gathered and overall
performance evaluation will be done in order to measure the areas which requires improvements
and better and advanced strategies to run the marketing plan effectively also prepared by the
managers of the organization.

REFERENCES
Books and journals
Fotiadis, A., Mombeuil, C. and Valek, N.S., 2018. Designing and implementing a marketing
plan. In The Emerald Handbook of Entrepreneurship in Tourism, Travel and
Hospitality. Emerald Publishing Limited.
Pyo, S., 2017. Integrating tourist market segmentation, targeting, and positioning using
association rules. Information Technology & Tourism. 15(3). pp.253-281.
Tafesse, W. and Wien, A., 2018. Implementing social media marketing strategically: An
empirical assessment. Journal of Marketing Management. 34(9-10). pp.732-749.
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