Comprehensive Marketing Plan: Morrison's New Footwear Product

This marketing plan outlines strategies for Morrison's supermarket chain to launch a new footwear product line. It includes an overview of the company, its mission, vision, and objectives, followed by a detailed STP (Segmentation, Targeting, Positioning) analysis to identify and target the right customer segments. A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis assesses Morrison's competitive advantages and potential challenges. The plan also defines the marketing mix (Product, Price, Place, Promotion) and provides a marketing budget for the first four years, estimating investments, sales, and promotional expenses. The overall goal is to leverage Morrison's brand reputation and market position to achieve high customer satisfaction and competitive advantage in the footwear market. Find similar solved assignments and study tools on Desklib.

Marketing Plan

Table of Contents
Marketing plan.................................................................................................................................1
Overview of the company......................................................................................................1
Objectives...............................................................................................................................1
STP approach-........................................................................................................................1
SWOT analysis.......................................................................................................................2
Marketing Mix........................................................................................................................3
Marketing budget....................................................................................................................3
REFERENCES ...............................................................................................................................5

Marketing plan
Marketing plan is the written document which consist of all marketing strategies of a
company which they can use for growth. It includes vision, mission, objectives and
strategies of the company to survive in the market. It also helps to analyse promotional
techniques opt by the company to expand the awareness of products and services for an
organisation.
Overview of the company
Morrison is a chain of supermarkets and hypermarkets headquartered in Bradford,
UK. It is founded in 1899 by William Morrison. It is having 497 stores in at worldwide level
(Number of Morrisons stores in the United Kingdom from financial year 2009/2010 to
2020/2021, 2021). The main products which they sell are food and beverages, books,
clothing, magazine and many others. They are having 118,047 employees and annual
revenue $24.1Billion (Morrisons, 2022).
Mission- “To provide fresh food products to customers at great value of money to gain their
high satisfaction.”
Vision- “To serve best services to targeted customers and gain competitive advantage in the
market with quality of products.”
Objectives
 To serve best quality of products and services to customers.
 To gain competitive advantage.
 To gain high customer satisfaction and high brand reputation in market.
STP approach-
This model is used to analyse the ways by which a company can target their
customers in market. In context of Morrison, they are planing to launch a new product in
their supermarkets which is “Footwear”. Hence, the STP model for their new product launch
is mentioned below-
Segmentation- It is the process where whole market is divided into sub components
(Ghahnavieh, 2018). In context of Morrison, they segmented their customers such as gender,
age group, purchasing habit of customers and many others.
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Targeting- This is the process where company opt one or more segments in market
from various alternatives. In context of Morrison, they can opt both male and female in
gender and they can also target those customers who have the habit of purchasing footwear
on regular basis and all income group of customers. They can also target both children and
adults as their targeted customers.
Positioning- In context of Morrison, they are positioned high in the market due to
their brand reputation and quality products. This can also help them to gain competitive
advantage in their targeted market. They can also improve their positioning by adopting
appropriate techniques of promotion for their new product. They can use social media
marketing, advertising on TV, pamphlets and many others to aware their existing and new
customers about their new product.
SWOT analysis
This is the model which is used to analyse strength of the company to gain competitive
advantage and weakness of the company to make corrective actions to convert these
weaknesses into strengths (Hajizadeh, 2019). On the other hand it is also use to analyse
opportunities to grab and threats to defend.
Strength-
 Brand image- Morrison is already
having high brand image due to
their existing products. Hence, the
high reputed brand name will help
the Morrison Company to attract
more customers toward their new
product.
Weakness-
 Lack of effective online
presence- Morrison is selling their
products through online mode but
in few geographical regions. They
are unable to reach customers
properly through online due to
improper strategy (SWOT analysis
of Morrison (Morrisons SWOT),
2017).
Opportunities-
 Attractive designs- Morrison can
use attractive footwear designs to
gain more customers. They can
Threats-
Competitors- There are various
competitors of Morrison related to their
new product like Joseph Azagury,
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hire skilled and popular footwear
designers for designing and
offering good looking footwear
designs to customers.
Lambland, Adidas, Nike, and many others.
They have created effective brand image
and most of the customers prefer to buy
their footwear from these companies due
to their services and quality.
Marketing Mix
This model includes main features of product, prices, place of distribution and
promotional techniques used by them to aware their customers. The factors in marketing
mix model will also help Morrison to gain competitive advantage by making effective
strategies. Marketing mix of Morrison for their new product is mentioned below-
Product- Here, Company will define the features of their new product. In context of
Morrison, their footwear products are having good quality and having diversity in types
such as they formal, casual, party wear and many others. They have all sizes of their
footwear products for their customers of each age group.
Price- It is the monetary value of the product. In context of Morrison, they can adopt
cost leadership strategy for the growth of their product in pricing strategy where they can
sell their products in lower price as compared to their competitors. They can also use
discounts and coupon codes for their online sell of products.
Place- This element will describe the distribution network of the company
(Lahtinen, Dietrich and Rundle-Thiele, 2020). In context of Morrison, they can sell their
footwear products in London, Birmingham and few other cities. These cities are opted due
to their high population ratio and high quality of life. They can have both physical stores as
well as online network to sell their product.
Promotion- Here, Morrison can promote their new product through social media
platforms such as Instagram, Facebook and many others. They can also use TV
advertisements to make their customers aware about their new product.
3

Marketing budget
It is prepared to analyse the estimated income and expenses of a product in case of
new product launch (Hawlk, 2018). In context of Morrison, their marketing budget is
mentioned below-
Particulars 1st year 2nd year 3rd year 4th year
Investment 12000 40000 8500 6000
Initial money 13000 45000 9500 9000
Total 25000 85000 18000 15000
Marketing outlay
Sales publicity 3300 2000 1000 1000
Direct selling 4500 5500 2000 4000
Promotion 6100 2000 2000 3000
Total 13900 9500 5000 8000
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REFERENCES
Books and Journals
Ghahnavieh, A.E., 2018. The influence of marketing factors on the marketing strategic
planning in SNOWA corporation. Business and Management Studies, 4(4), pp.52-
61.
Hajizadeh, Y., 2019. Machine learning in oil and gas; a SWOT analysis approach. Journal
of Petroleum Science and Engineering, 176, pp.661-663.
Hawlk, K., 2018. How to Minimize Your Marketing Budget and Still Get Results. Journal
of Financial Planning, 31(1), pp.26-27.
Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix.
Testing the effectiveness of the commercial marketing mix in a social marketing
context. Journal of Social Marketing.
Morrisons, 2022. [Online] Available Through :
<https://www.owler.com/company/morrisons-corporate/>
Number of Morrisons stores in the United Kingdom from financial year 2009/2010 to
2020/2021, 2021. [Online] Available Through :
<https://www.statista.com/statistics/382340/morrisons-number-of-stores-united-kingdom-
uk/>
SWOT analysis of Morrison (Morrisons SWOT), 2017. [Online] Available Through :
<https://howandwhat.net/swot-analysis-morrisons-morrisons-swot-analysis/>
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