Marketing Plan Report: Waitrose Case Study Analysis and Strategies

This report provides an analysis of a marketing plan, focusing on the objectives and strategies employed by a company, likely Waitrose, as a case study. The report begins with an introduction, defining the purpose of a marketing plan and its significance for the company's growth and market presence. It highlights the importance of the marketing plan in aligning with broader business goals, particularly in terms of expanding market share and profitability. The report further delves into the role of marketing plans in achieving long-term success within a dynamic business environment, emphasizing how these plans facilitate sales and reduce marketing costs. The report concludes by summarizing the key benefits of marketing plans in promoting goods and services, and enhancing sales revenues, making it an essential component of any successful business. The reference section provides the sources used in the report.

REPORT

Table of Content
 Introduction
 Purpose of Marketing plan
 Importance of Marketing plan
 Conclusion
 References

Introduction
Marketing plan refers to the written document which describes the promotional and advertising strategy for
the company which is executed by the management in order to achieve prominent goals and objectives
within the stipulated period of time. In this context the main objective of marketing plan is to introduce a
new product within the market in order to expand their market size and profit.

Purpose of Marketing Plan
Marketing plan is a document which is created by the leaders of company and marketing professionals.
It provides a probable guide for the marketing department to execute steps that are required to align with
the stated marketing objectives and strategies. In terms of Waitrose the purpose behind developing
marketing plan is to develop the company regarding the specific course. Objective of marketing is to
align with the broader goals of company as marketing plan provide a new look for the company to
expand its services in terms of success and growth. In relation with this majorly company use low
penetration pricing which is the common technique and order to achieve Marketing share developing
favourable conditions and enhance the customer awareness towards the common objectives.

Importance of Marketing Plan
Every organization needs marketing plan in order to achieve long term success and for the
survival in the dynamic business environment. In this context the marketing plans and
strategies are important because they make the achievement of sales easier for the
company. When company target their customers in prominent way then the marketing plan
reduce the extra cost of marketing and also increases the possibility of transforming leads
into sales. In terms of Waitrose its marketing plan is looking forward to exercise the
determination of future strategies for the company with prominent references for the
development of product market development channel design sales promotion and
profitability.

Conclusion
By considering the discussion it is summarised that marketing is useful in exchanging
prominent goods and services in order to enhance the sales and revenues of company. In
this context it considered the purpose of marketing plan and why it is significant for the
company.

References
 Kannan, P.K., 2017. Digital marketing: A framework, review and research
agenda. International Journal of Research in Marketing. 34(1). pp.22-45.
 Harmeling, C.M and et al., 2017. Toward a theory of customer engagement
marketing. Journal of the Academy of marketing science.45(3). pp.312-335.
 Wirtz, J. and Lovelock, C., 2016. Services marketing: People, technology. World Scientific
Publishing Company.

Thank You