Marketing Management Report: National Retail Federation Case Study

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Marketing Management
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Contents
Executive Summary.........................................................................................................................3
Introduction......................................................................................................................................3
5C analysis.......................................................................................................................................4
Collecting information.....................................................................................................................5
Developing marketing strategy........................................................................................................5
Developing marketing tactics..........................................................................................................6
Conclusion.......................................................................................................................................6
References........................................................................................................................................8
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Executive Summary
The objective of this report is to understand the theory and practice of the marketing
management for an organization. For the discussion, famous organization National Retail
Federation is selected. The report provides the details of the organization along with the mission
and products and services offered by the organization. Further, report analyzes each 5Cs for the
organization. In addition to this, the report describes the process by which relevant information
about market can be collected. The marketing strategies and marketing tactics are also developed
for National Retail Federation in the report.
Introduction
In this report, Company National Retail Federation is selected for the discussion. This is the
largest retail trade association in all over the world. The members of the company include
department stores, internet, independent retailers, chain restaurants, discount and grocery stores.
NRF represents the largest private sector industry in United States containing over 3.8 million
retail establishment.
Mission statement- Mission of NRF is to protect and advance the interest of the retail industry
and help the retailers in achieving excellence in their areas of business.
Products and services- The Company has wide range of product and service category for the
potential customers. They include accounting systems, automated customer contact solution,
Automated Teller Machine, business intelligence, check processing, hardware maintenance,
consumer electronics, content management, design support systems, information technology and
installation services.
For National Retail Federation, branding has crucial role on the marketing strategy of the
company as it creates the sense of stability for the customers and complies with the standards and
expectations.
5C analysis
For National Retail Federation, 5C analysis is done below:
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Company- National Retail Federation is the largest retail trade association in all over the world.
In terms of strengths of the company, it is the large association of retail sector in all over the
world. The organization is financial strong and largest private employer i.e. employs large
workforce in business. In terms of weaknesses, high work pressure on the staff, ineffective HR
management and higher competition are the factors. Next, opportunities include better economic
conditions, use of artificial intelligence and use of innovative digital strategy in business. Threats
include growing competition, changing demographic patterns and economic uncertainty in the
market (Armstrong et. al., 2014).
Customers- In terms of customers, all the retail companies, department stores, independent
retailers, chain restaurants and grocery stores are the members of National Retail Federation.
Collaborators- National Retail Federation provides wide range of services to its members. In
order to provide effective services, National Retail Federation has done collaboration with
Global Licensing Group, Ascential Plc, Software AG and Kiabi.
Competitors- The organization provides goods and services to the retailers in all over the world.
Key competitors of National Retail Federation are Momentum Event Group, PRSM and DX3
Canada. These organizations are also providing similar products and services to the retailers and
creating tough competition for National Retail Federation.
Context- There is some factors i.e. technological and economic factors that affect the operations
of National Retail Federation in retail industry. Technology is growing continuously so it is
important for the organization to improve the operational excellence by the use of technology. It
is also crucial to think beyond the technological innovation to attract the customers. Further,
labour markets and economic conditions also affect the business of the organization. Changing
dynamics always increases the competition in the market.
Collecting information
In order to collect the information, the process of market research is selected. Based on 5Cs
analysis, it is observed that customers want innovative and affordable services related to retail
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business operations. They want the products and services along with the use of innovative digital
technology. In terms of competitors, they are posing the threat for National Retail Federation in
the market as they are offering similar products and services to the retailers by adding more
values. This is creating tough competition for National Retail Federation as retailers can shifts
towards the competitors if they get more offers and values (Levy, 2012).
In the context of changing business, technology is upgrading continuously in the industry and
this is changing the way to operate the business. Consumers want the products and services with
digital upgrade i.e. artificial intelligence, process automation, and cognitive intelligence
technologies. These have changed the way of doing business of the companies in the retail
industry. In case of collaborators, they have significant role in providing products and services
to the retail members. With the help of collaborators, National Retail Federation is able to
provide technological products and services to its members (Fifield, 2012).
Developing marketing strategy
For National Retail Federation, marketing strategies are as follows:
Target market- For providing more products and services, National Retail Federation would
target new retail companies in all over the world. The organization would use geographic
segmentation in which companies in various countries can be targeted.
Value proposition- By providing products and services at the competitive prices, National
Retail Federation would provide values to its members. By providing innovative services,
National Retail Federation would provide superior value to the retail companies (Peck et. al.,
2013).
Positioning statement- The positioning statement for National Retail Federation is as follows:
“For all the retail companies across the world, National Retail Federation would be the most
efficient and accessible way to get retail products and services to stay competitive in the market.”
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Developing marketing tactics
In order to develop effective marketing plan, it is important for National Retail Federation to
create marketing tactics in effective manner. The marketing tactics for National Retail Federation
are given below:
Product- The products are business intelligence, check processing, hardware maintenance,
consumer electronics, content management, design support systems, information technology and
installation services.
Price- In order to attract the customers, penetration and competitive prices would be charged by
National Retail Federation.
Place- Strong eCommerce platform and well-planned networks of distribution centre would be
used to provide the products and services.
Promotion- National Retail Federation would use diversified area of advertising media and
eCommerce platforms would be used to promote the services (Singh, 2012).
Conclusion
Marketing strategy and tactics are essential for National Retail Federation to stay competitive in
the market. It is observed that customers want innovative and affordable services related to retail
business operations. They want the products and services along with the use of innovative digital
technology. So it is important for the organization to improve the operational excellence by the
use of technology.
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References
 Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing.
Pearson Australia.
 Fifield, P., 2012. Marketing strategy (2nd edition), Berlin: Reed educational & publishing
Pvt Ltd
 Levy, S., 2012. Marketing management and marketing research. Journal of Marketing
Management, 28(1-2). Pp.8-13.
 Peck, H., Christopher, M., Clark, M., & Payne, A., 2013. Relationship Marketing,
Burlington: Linacre house, Jordon hill.
 Singh, M., 2012. Marketing mix of 4P’s for competitive advantage. IOSR Journal of
Business and Management, 3(6), 40-45.
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