BSC (Hons) International Accounting Marketing Plan Report

This report presents a strategic marketing plan for Jucieku Gummy, a new candy product from Walmart. It begins by defining marketing and its role, then identifies the marketing mix and performs a situational analysis. The report includes an executive summary, tables, and an introduction to the product. It explores the concept of marketing, its evolution, and its relationship with other organizational functions, including finance, human resources, and accounting. A PESTLE analysis examines the external environment, and the report compares Walmart's marketing mix with Amazon's, focusing on product, price, promotion, place, people, process, and physical evidence. The report also reviews strategies and tactical approaches used by organizations to achieve business objectives, concluding with references.

Marketing planning process
BSC(hons) International Accounting
Word count 4309
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Executive summary
As a junior marketing intern it Initially it focuses on defining and understanding marketing as a whole in a broad
sense. The identification of the marketing mix and the situational analysis of the Walmart is the initial process
in formulating a strategic marketing plan. Therefore, this report functions as the research and initial
development of a strategic marketing plan. .
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List of tables
LO1 Explain the role of marketing and how it interrelates with other business units of an organisation
Pg. 4-7
LO2Compare ways in which organisations use elements of marketing mix to achieve overall company
objectives Pg.7-10
LO3 Produce a marketing plan for an organisation that meets marketing objectives
Pg.10-12
LO4 Develop a media plan to support a marketing campaign for an organisation
Pg. 12-13
Conclusion Pg.14
Reference Pg.15
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INTRODUCTION
The Food product is gummy bears which is a form of candy the brand name is jucieku gummy this is a basic
luxury candy product from supermarket Walmart. This product in contained in large amount the brand is
famous for gummy bears and pie cake. Basically this product is new to market by our company at brand name
as jucieku gummy. This product is sweet a little and tastes then just a bit chewy. This product is more focus on
children’s, teenagers and adults.
THIS BASICALLY A LUXURY CANDY MORE FORCED ON TASTE AND PURSUE FOR ALL MARKET
P1 Explain the concept of marketing and marketing operations including the different areas
and role of marketing.
What is marketing?
Marketing is figuring out clients wants and needs and generating the product in a worthwhile manner to the
commercial enterprise the ones may be product, good & offerings and
thoughts etc.
Nowadays advertising as greater unexpectedly long past though on line platform and made a fashion in which
greater income take place because of era development.
Roles of marketing
Basically marketing roles are Identifying customer, Satisfying customer and retaining customer. When
launching new product to market its important identify market and then develop a product, By researching
which market the product suits and to be targeted. Basically roles on marketing to develop a product when it’s
launch are product development, research and development pricing and distribution, promotion and sales.
When launching product its about product development and execution of product to the market.(Rob
Jones,2017,student book,pg5-8)
P2 Explain how the marketing function relates to the wider organisational context
Evolution of Marketing Concepts
Marketing Concepts is the approach used by organizations and the advertising industry to satisfy customer
wants, maximize revenue and aggressively win victory in the market among competitors.
The five main principles are production, product, sale, advertising and social principles, and have been
developed over many years.
The production concept is activity centred and more focused on attracting customers to products that can be
bought easily with less objection for the same product.
Specific product concept for production idea. It assumes that price doesn't play an important role in customers
buying it because of habit, innovation, quality, and whether it's really worth it.
Sales concept focused on getting bigger income and customer as an alternative no longer specializes in
customer wants and quality.
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Figure 1 – gummy bears image

The marketing concept centred around the organization's growing logo appeal and Morley's limited potential
to increase advertising revenue, which provided an additional price for the client compared to for its keeper.
Social Concepts focuses on emphasizing the well-being of society. Even it is mainly based on the ideas,
vision or ethics of entrepreneurs about selling products that customers need. (Avalaunch media 2020)
M1 Analyse the role of marketing in the context of the marketing environment.
PESTLE ANALYSIS
PESTLE ANALYSIS this is a process of identifying the political, Economic, social, technological, legal and
environmental factors which may influence business performance.The head of the organization here analyses
the macro environment of Walmart using PESTEL analysis. It helps the organization figure out its marketing
environment. (Howandwhat 2020)
PESTLE Analysis Factors that could If those markets faced frequent political challenges such as protests,
strikes and road blockage, it would be hard to operate the company.
Economic factor of Walmart provide many product to customers at cheap prices . It carry out this strategy
thought a largely automated supply-chain management system. As Walmart operates in lots of countries, it's
miles laid low with numerous different monetary elements consisting of tax rates, worker wages, change rates,
and interest
Social factorsuggestthe age, culture, social norms, values and education. For a case, Walmart failed to operate
in Japan for several reasons. Walmart has decided to spend about $14 billion in the fiscal year 2022 to
develop its supply chain, automation, and other field of the business.
Legal factor of Walmart needs to make sure whether activities done are in line with the rules and regulations of
all the markets where it operates.
Environment factor such as natural disaster may damaged properties has a result high costs for recovery.
(Howandwhat 2020)
M2 Analyse the significance of interrelationships between marketing and other functional
units of an organisation
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Marketing function and relationship between other organisation
Basically marketing department tries to attract a customer to their company and grow an interest in their
products even marketing are responsible that the sales department are selling products and services that
customers required. Even marketing department have connections with each department because the
operate parallely.
Relationship between marketing and other departments: Marketing is an important issue for an organization. It
maintains excellent relationships with other departments. They are given below:
Relationship between marketing and finance: The finance department is responsible for allocating funds from
different sources into the capital of the organization. The marketing department helps them find the right
funding sources. They also help them know how much money the marketing department needs to advertise
their products or promotional activities (Lewis, 2013).
The relationship between marketing and human resources department: The human resources department is
responsible for recruiting the most talented and quality employees for the organization. They also organize
different types of training programs to develop employees' careers (Brooks and Simkin, 2012,pg.494-514). The
marketing department helps the human resources department by informing about various information related to
labour resources. The marketing department manager tells the manager or human resources department what
kind of training they need for their marketing staff.
The relationship between the accounting department and the marketing department: they have a great
relationship because the marketing department helps the accounting department manager prepare various
budgets. Marketing managers analyse the market and consumer needs (Lewis, 2013). Based on this
information, management accountants prepare sales budget, purchasing budget, production budget, etc.
Relationship between marketing department and purchasing department: The head of marketing informs
purchasing department about market demand. It helps purchasing department to purchase products based on
demand from production department and information from store department (Lewis, 2013).
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D1 Critically analyse the external and internal environment in which the marketing function
operates
Marketing branch of an employer does numerousfeatures to assistthe oppositebranch to reap organizational
objectives. They do
Budget: Marketing manager helps prepare sales budget, production budget and helps other departments
prepare other needed budgets.
Market research: Walmart marketing department analyses the market and consumer needs. This information
helps the accounting department to know the expected revenue, it also helps the sales and marketing
department to set the sales budget, and helps the manufacturing department to produce the number of
products according to the market demand.
Competitive analysis: Marketing director analyses the competition in the market. It mainly helps the accounting
department to price the products based on the average market price.
Positioning: The marketing manager determines the position in the organization from which he can effectively
manage the business. Positioning means placing the organization in a particular position in the market from
which it can gain an advantage of scale and a business advantage. This helps other departments understand
their position.
Market strategy: Managers analyse the strategies of other organizations in the same industry to know their
strategies. Based on this strategy, the head of the organization defines his own
strategy(RobJones,2018,student book 1,pg57-67).
P3 Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives.
Marketing mix for the new product range (7P’s)
Marketing Mix: The marketing mix refers to the actions taken by the marketing manager to attract the
customers to buy the products from the related organization. There are certain elements of the marketing
mix (Lewis, 2013)
Product: Product is the goods, services or the combination of each provided through the corporation to the
target market.
Price: Price is defined as the amount that has been exchanged in phrases of purchasing the product from the
seller.
Promotion: Advertising and Promotion includes all of the activities that cope with marketing of the product.(Rob
Jones,2017,student book,pg 298-322)
People Walmart is a multinational which places a strong emphasis on its employees.
Process: Process may be termed as all of theactivities and the practices which might beconcerned in making
the product to be had to the market
Physical evidence: Physical evidence is the material part associated with the product. Walmart even has
majority of offices around the world, which contributes to the brand`s name. (IIDE. co 2020)
Comparison of marketing mix with Amazon
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7P’s Walmart (IIDE. co 2020) Amazon (Malta,2020)
Products movies, gifts, college essentials,
Electronic items, home appliance,
jewellery, photo centre, grocery,
toys, outdoor living, funeral, video
games etc
Retail service, Retailgoods,
AmazonPrime,
Consumerelectronics, Digital
content distribution service,
AmazonVideo, Amazon Web
Services (AWS),Amazon
Publishing,AmazonFresh,Amazon
Prime Pantry, Amazon Dash and
Video Direct
Price Everyday Low Price
(EDLP),Market-oriented pricing
strategy and Flat-rate (fixed-rate)
subscription pricing strategy
Market-oriented pricing
strategyPrice discrimination
strategyValue-based pricing
strategy
Place 10,020 retail units which is
operates across 28 countries
Official e-commerce websites,
Amazon Books, Others
Promotion Walmart has its own in-store
promotional activities which
includes
sales promotions through
product bundling and
its pricing strategies.
Advertising (most
important),Sales promotions,
Public relations and Direct
marketing
Process optimized supply chain and
distribution network that caters to
Walmart stores and customers
globally,
warehouse runs and how
inventory is controlled, to ensure
products are always available.
People employed 2.2 million people. Amazon's sales team plays vital
roles in marketing efforts.
People evidence more than 11,300 retail stores Amazon has mounted top of the
ladder in their online sales
against their competitors.
There are numerous advantages of the marketing mix that makes it essential to businesses;
 Helps apprehend what your service or product can provide for your customers
 Helps plan a success product offering
 Helps with planning, growing and executing powerful marketing strategies(Rob Jones,2017,student
book,pg282-289)
M3 Review strategies and tactical approaches applied by organisations to demonstrate how
business objectives can be achieved successfully
Most of the businesses are the usage of exclusive 4kinds of approaches to obtain organizational dreams and
objectives. The 4 methods are:
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products Walmart is a multinational retailer which has every product or a brand. It has broad range of product
categories include movies, gifts, college essentials, Electronic items, home appliance, jewellery, photo
centre, grocery, toys, outdoor living, funeral, video games etc. It aims to increase sales But this goal will be
achieved when the head of the organization offers various range of products to consumers.(IIDE.co 2020)
Price: It is some othermethodto draw the customer. Walmart uses a methodin most casesto drawthe most
client. They provide their product on themost inexpensivechargewith inside themarketplace of the UK. They
agree with on their program “Always cheap pricing” and “Everyday low prices”. .(IIDE.co 2020)
Marketing strategy: It is any other critical approach for Walmart to draw the consumer to offer more items. They
sell their merchandise in exceptional ways. They provide items to the consumers and that they deliver this
product at lower price.
Operational strategy: The key to the success of Walmart’s operational strategy. The organization uses this
strategy to sell their product more and more such as Walmart offers unique attention to the manner it operates
in order that the purchaser receives his merchandise very rapid and the cabinets are crammed in any respect
times(Rob Jones, 2019,student book2,pg 3-6)
D2 Evaluate strategies and tactical approaches to the marketing mix in achieving overall
business objectives
The manager of the company is continually seeking to reap the advertising and marketing targets of the
company.
The key factors of the advertising and marketing characteristic are interrelated with every other. In this regard,
the SWOT Analysis this involves the internal strengths and weakness of business and the external
opportunities and threats . Its an analytical device which assist to take proper decisions.
SWOT ANALYSIS OF WALMART
Strengths of Walmart : Walmart well-known for its precise promoting proposition of presenting items at
decrease rate those aggressive strengths makes Walmart to face amongst threats regardless of its
weaknesses as a low-price store.
Walmart`s strengths for in addition international boom are:
 Global organizational size
 High performance of deliver chain
 Global deliver chain
Weakness of Walmart: Walmart weaknesses are at once associated with the Walmart`s porter`s approach
and its implications in enterprise improvement, resources, capabilities, and income margins. which results in
the subsequent weaknesses:
 Slim income margins
 Easily reproduction the enterprise version and ideas
 Competitive downside towards high-give up area of expertise sellers
Opportunity of Walmart: The shops of Walmart presently change in a pretty small variety of nations only .
Therefore there are super possibilities for destinyenterprise in increasing on purchaser markets from Walmart
swot analysis.
Walmart`s possibilities are:
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 Expand in growing international locations
 Improvement in human useful resource practices to enhance competitiveness with inside the labour
market
 Development in great requirements
Threats of Walmart: Walmart being one in every of big organisation method which you are the goal for
competitors, regionally and globally. Being a international store method that Walmart could uncovered to
political issues with inside the international locations which you function in.
Even Walmart has threats of:
 Healthy life-style trend
 Aggressive competition
 Online outlets of diverse sizes (Panmore institute, 2019)
Overall cost leadership strategy: Walmart is still using a cost leadership strategy. Because of they are offering
their product at the lowest price to the market so based on this strategy they fix the lower price of their product.
Product differentiation: Walmart should use this strategy to offer different types of products to the market.
Because they are running worldwide so they need to find out the most effective product as per the demand of
the consumer.(Rob Jones,2019,pg 11)
P4 Develop a marketing plan that includes key elements of marketing planning for an
organisation to achieve marketing objectives
Marketing plan
Marketing planning is a systematic process, which involves analyzing the marketing environment and formulating
strategies and tactics to achieve marketingobjectives.Marketing plan of Walmart`s: Like different a success
enterprise organizations, Walmart`s has additionally an powerful advertising and marketing plan. It is an in
depth written file organized via way of means of the marketing manager to carry the framework for which the
goal of the corporation may be obtained. ItProvides a framework to operate, monitor, manipulate and
combineall of the efforts of the organization making sure all sources are allottedcorrectly and effectively. But
however Too tonsevaluation and no action - The crew possesses more potent analytical competencies than
planning competencies. (DeFanti, 2015,pg 371))
Therefore, it is likely that the typical marketing objectives will concentrate on:
Increase sales value and volume - Metric's to measure sales results by product, region, channel, segment,
strategic business unit or at he level of the overall company.
Marketing strategy is a set of plan that aims to achieve a specific marketing objectives.
Market segmentation is when the market is divided into different sections or market segment such as
geographic, demographic and psychological segmentation. Segmentation strategy helps to understand the
different sub-segments of customers and their changing needs and wants been expected.
Market positioning is the view of consumers have about the quality, value for money and image of product in
relation to those of competitors.Morely positioning strategy plays a major role in company’s success where
Walmart has positioned itself as a company offering products at the lowest price.
Targeting market: Targeting refers back to thetime period of focusing at theuniqueorganization of clientswho've
the opportunity to make a buy from the corporation. The marketing manager of Walmart could be verycautious
to attention on certain groups. It has a tendency to carry the business enterprise in one of thesestate of
affairsin order that the corporation can derive most effective value. Walmart uses
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Undifferentiated targeting method is utilized by the massive to capture the market globally. Everyone is a
prospect for Walmart so it does now no longer use differentiation to a prime advantage. The price
of products is the important differentiator for Walmart. Low pricing method may be used for the whole masses.
(marketing91, 2017)
Competitive analysis in the Marketing strategy of Walmart
Walmart has competed all-over with local, national, global supermarket. Walmart’s rivals are Tesco, Amazon,
Carrefour, AG, metro and costco etc. are the major competitors competing in one or more segments. globally.
(marketing91, 2017)
SMART OBJECTIVES
SMART goal stands for specific,measurable,achievable,relevant and time bound.Walmart marketing objectives
include improving the price, type of products, and the access of their products for all consumersacross their
stores. They try to concentrate on their customer satisfaction and then make sure demand remains for their
products.(Rob Jones, 2017,student book,pg 15)
M4 Produce a detailed tactical marketing plan that integrates the extended marketing mix to
achieve marketing objectives
5C ANALYSIS
5C analysis a situation analysis technique which involves inspection of the external environmental factors and
various internal capabilities that affect the business operations of a company. 5c includes company,
collaborators ,customers, competitors and climate.
Company Walmart was founded on year 1962 in Rogers, Arkansas, United States. company`s main focus was
the customers to offer products at the lowest prices of all retailers based in the United States.
Collaborators include the distributors, suppliers ,agencies and partnerships. However Walmart focus was on
reducing operating expenses and keep the variable costs low in order to save cost to the consumers.
Therefore, there is no role among agencies or middlemen in the business of Walmart.
Customers most favourite retail brand of Americans is Walmart because of its lower prices and the variety
assortment of products and offers.
Competition of Walmart has competed all-over with local, national, global supermarket such as Tesco amazon
etc.
Climate refers to the business environment of the company. The environment factors affect the retail industry
Walmart this could be due to disaster or any other natural factors. (notesmatic 2021)
Internal analysis: Internal analysis of the enterprisemay bedefined as analysing the innerelements that have an
effect on the company`s functioning. These elementscan also additionallycontainmonetaryanalysis, price chain
evaluation, strength and weak point of the country. The innerevaluation of the enterprisehelps in making the
development plans for the companywith the aid of usingfiguring out its faults in addition toaggressive
advantage.(Rob Jones,2019,student book2,pg17-18)
Segmentation: Where Walmart uses psychological and Demographical Segmentation strategies. Also
Walmart as Introduce an everyday strategy of low price.MorelyCustomers of Walmart are middle & upper-
income group who want best deals & discounts in order to purchase the necessities
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Positioning strategy: Positioning is the process of bringing the market to a place where the organization can
achieve the desired results. Walmart has positioned itself as the company that offers products at the lowest
prices. Due low price positioning of Walmart it has made vanish several smaller retailers since years it
operated. (marketing91, 2017)
D3 Produce a strategic marketing plan for an organisation that measures achievement of
marketing objectives within key performance metrics
KPIs are measurable values related to the efforts made as part of your marketing campaigns and strategy.
KPIs should:
(KPI) success measurable metrics
 Return on investment (ROI)
 Cost-per-lead
 Return on engagement (ROE)
 Cost-per-sale
 Lead generation response rates(Asana,2021)
Evaluating and tracking marketing plans the use of suitable manipulate and assessment techniques;
 Sales analysis
 Market-share analysis
 Cost-profitability analysis(Rob Jones,2019,student book 2,pg 9-16)
P5 Produce a media plan that includes recommendations and rationale for selected media
activities that meet budgetary requirements and objectives of a marketing campaign brief
A marketing campaign is a strategic marketingattemptgeared towardsellinga selectedundertaking or aim on
behalf of a company, logo or individual. Marketing campaigns are designed to get consumers` interest in
numerous ways, including television, print advertising, social media and electronic mail marketing
The following are numeroustypes ofmarketing campaigns: Traditional media marketing campaign, Seasonal
push marketing campaign, Productreleasemarketing campaign, Brandfocusmarketing campaign,
Rebrandingmarketing campaign, Brandreleasemarketing campaign, Contestmarketingcampaignand Email
marketingcampaign.
Marketing communications strategy is the methodutilized by a organization or person to attain their
goalmarketplacethrudiversevarieties of communication. Key steps to follow.
 Understand Your Target Audience
 Define your Unique Selling Proposition (USP)
 Determine your Marketing Communications Mix
For a majority of the corporations which can be persisting with inside the marketplace today, the advertising
and marketing campaigns are their primary technique to communicate with their centered purchaser base. The
marketing campaigns assist in reinforcing a solid role in their with inside the marketplace and additionally for
purchaser acquisition.
The marketingcampaign is utilized bythe onesgroups which do now no longer have accurateemblem
recognition. To take the agencies to new heights the crucialcomponent is first to make the customersaware of
that corporation and its products. Thus the marketing campaigns utilized by the business to securea spot for
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