Waitrose Limited: Marketing Strategies for Global Market Expansion

This report provides a comprehensive analysis of Waitrose Limited's international marketing challenges and opportunities. It begins with an abstract summarizing the core problem: Waitrose's limited success in international markets despite its strong domestic presence. The report then delves into the micro-environment, utilizing a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. A key focus is the critique of alternative marketing strategies, particularly the Ansoff matrix, evaluating market penetration, market development (with a specific focus on the proposed expansion into Denmark), product development, and diversification strategies. The report further examines the influence of consumer buying behavior on marketing decisions, emphasizing the importance of understanding consumer preferences and adapting marketing efforts accordingly. The conclusion highlights the need for Waitrose to adopt effective marketing strategies to enhance its global market share, leading to recommendations such as leveraging market development strategies. The report underscores the importance of understanding consumer behavior and tailoring marketing efforts to resonate with international audiences.

Principles of
Marketing

ABSTRACT
The report is based on a problem faced by Waitrose Limited which is that the firm has
extensive customer base in domestic market but has failed to gain popularity in international
markets owing to failure to adopt effective marketing strategies at global level. The firm has a
strong name in domestic country and thus there is a need for company to enhance its
international marketing strategies to inflate its market share. Thus, it is recommended to
company to make use of alternate marketing strategy such as market development and expand in
Denmark to appeal to public significantly.

Table of Contents
Abstract............................................................................................................................................2
INTRODUCTION...........................................................................................................................4
PROBLEM BACKGROUND AND RESEARCH QUESTION.....................................................4
MAIN BODY...................................................................................................................................4
Critique of Micro Environment..............................................................................................4
Critique of Alternate Marketing strategies.............................................................................5
Critique of buying behaviour and its influence on consumer decision making.....................7
CONCLUSION................................................................................................................................8
RECOMMENDATIONS.................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is regarded as the activity which is concerned with promotion of goods and
services at an international scale with a view to enhance the brand image as well as goodwill of
company among people. In this regard, there are various principles of marketing which are
followed by an enterprise with a view to ensure that customers perceive high value of offerings
of company. The present report is based on Waitrose Limited which is a supermarket operating
mainly within the confines of United Kingdom and having significant market share in other
countries also. The report covers critique of company’s micro environment. Also, it includes
critique of benefits and limitations of alternative marketing strategies and tactics. Further, it
comprises of critique of buyer behaviour illustrating its influence over marketing decisions
PROBLEM BACKGROUND AND RESEARCH QUESTION
Over the course of time, it has been seen that Waitrose has been excelling within the
domestic market, i.e., UK. However, the firm has not been successful in attaining the same
response at foreign markets owing to lack of adoption of effective marketing strategies and
practices. This gives rise to the need of conducting this report based on the below mentioned
problem:-
Problem Statement: Waitrose has been unable to make high profits at foreign markets
owing to adoption of ineffective marketing strategies and practices.
Research Question: What are the ways in which Waitrose can do marketing in order to
excel at international markets?
MAIN BODY
The following discussion is based upon the above mentioned problem statement and
research question.
Critique of Micro Environment
It is essential for a firm to carry out environmental scanning with an aim to gain
knowledge of its position in comparison to rivals. Also this helps an entity in ascertaining its
strengths and opportunities while gaining access into potential international markets. In this
regard, the management of Waitrose Limited has conducted examination of its micro
environment with the help of SWOT analysis in order to identify the areas of improvement when
going global.

STRENGTHS WEAKNESSES
 Waitrose has substantial share
worldwide and have strong and
competitive image among customers
within UK especially.
 Company is exercising strong
advertising efforts in UK owing to
which it is a preferred brand within
domestic market.
 Waitrose somehow lacks behind in
terms of online business.
 Less number of convenience stores is
one of the main weaknesses of this
company.
 Ineffective marketing strategies at
international scale.
OPPORTUNITIES THREATS
 Waitrose can undertake its business
online in order to gain widespread
growth opportunities worldwide.
 With social media advertising and
worldwide expansion strategies,
company can ensure increase in their
consumer base at a global level.
 Due to increase in competition of
ecommerce websites Waitrose may face
many possible threat.
 High prices of Waitrose products are a
major threat for corporation as there are
many competitors within market place
those who offer qualitative products at
affordable price.
Critique of Alternate Marketing strategies
Waitrose is a well renowned supermarket chain which is having a strong base of
customers who are not willing to shift to alternate brands in its domestic market. However, it is
seen that the operations of entity have not been successful in gaining the attention of people at
foreign markets owing to ineffective marketing strategies. Thus, the management of this firm is
looking upon alternate marketing strategies which can be adopted while going global.
Ansoff matrix
It is the framework used by business association for analyzing best possible market
strategies that could help them out in attaining success at marketplace. This framework is
consists of four alternate strategies that could be adopted by associations for attaining
organizational growth. In context of Waitrose, it can be said that this company is planning to
expand their business at international marketplace. For this they will be required to adopt

effective strategies that will work as the supportive factor for them in order to attain
organizational success. In this regard, manager of this company has adopted this framework for
finding out best marketing strategy. All growth strategies along with their benefits and
drawbacks are described below in effective manner:-
Market penetration: The major emphasis of this growth strategy is to provide same
product within the same marketplace in order to increase market share of company. With
reference to Waitrose, it can be that the company could adopt this strategy by identifying niche
market within its existing area. The main benefit of this strategy is that it allows company in
identifying new customers within the same area which is cost effective for them. On the other,
the demerit of this strategy is that it does not allow company in approaching higher range of
customers as they are limited to the same marketplace only.
Market development: As per this strategy, businesses are expected to introduce their
existing offering at new marketplace with the same range of product portfolio. As per present
context, Waitrose could go for this strategy by entering into new marketplace with its existing
offering in supermarket product. For instance: Currently Waitrose is proposing to expand its
business in Denmark which is could be seen as best example of this strategy. Merit of this
strategy is that it allows them in approaching larger group of customers from new market that is
supportive in increase of sales performance. Whereas, it also requires huge capital to establish
business at international market. This could be seen as the negative influence of market
development strategy.
Product development: This strategy states that companies are required to introduce new
product in existing field of market for the purpose of growth. For acquiring this strategy,
Waitrose could introduce some new products in their supermarket portfolio for attracting more
number of customers from the same area. This will support them in boosting up their sales with
the support of large scale customers. This could also work in negative manner as if these
customers does not accept new range of products then it could bring huge loss for this company.
Diversification: Diversification is identified as the most riskier strategies for business
enterprises as according to this company is required to introduce completely new range of
product at new marketplace. The main benefit that could be attained by Waitrose with the usage
of this strategy is that it will allow company in gaining advantages related to monopoly in the
new market with its completely differentiated offering. It is identified as the most expensive

strategy among all as if customers do not accept new offering then it might result in huge
financial losses for Waitrose.
On the basis of above described strategies, it can be said that market penetration is
identified as best growth strategy for Waitrose as it is planning to expand its business in
Denmark. This strategy will also support them in improving their business performance in
effective manner as they can influence their sales figure in positive manner by approaching more
number of customers belonging to new area. Along with this, adoption of this strategy will be
creating requirement of high capital in order to execute all organizational activities in rightful
manner. Here, it is essential for this company to identify reliable and trust worthy investors so
that satisfactory capital could be developed.
Critique of buying behaviour and its influence on consumer decision making
Buying behaviour can be referred to as the purchasing pattern of individuals. It has been
identified that buying behaviour of customers mainly acts as the most essential element that
impact on consumer decision making. Thus, it is important for an organisation to effectively
identify behaviour of consumer in best effective manner. With the help of this company can able
to provide products and services as per according to their needs and preferences and can further
able to gain more advantages. By identifying consumer behaviour, organisation can also
advertise the message in a well defined manner, as advertising acts as crucial element to attract
consumer attention towards organisational products and services. With the help of this company
can able to gain more advantages as per compared to the competitors.
It has been identified that by effectively evaluating behaviour of consumer organisation
can further motivate them through advertising appeal and can provide advertising message in a
well defined manner. As per the above discussion it has been identified that behaviour customers
affect organizational marketing activities in number of ways. It is essential for Waitrose to
effectively identify needs, demand and behaviour of customer as it directly and indirectly impact
on organisational functioning at global level. With the proper evaluation of consumer behaviour
manager of Waitrose can advertise about the products and services and their marketing efforts
will not lead towards wastage.
Buying behaviour in simple terms is termed as a purchasing pattern of individual. With
the proper evaluation of consumer buying behaviour, Waitrose can undertake marketing
activities in well-defined manner and can further save unnecessary cost on marketing functions

while operating at international scale. Thus, it is essential for Waitrose to allocate information
and data related to consumer behaviour, it will further benefit company to draft advertising
message in best effective manner and can further gain attraction of customers in best effective
manner. Marketing is considered as performance of business activities that actually direct flow of
goods and services from producers to customers. It is essential for Waitrose to understand buying
behaviour of customers as with the help of this company can effectively able to organise
marketing campaigns and can advertise about the services and products in best effective manner.
Advertisement acts as most important element and can further influence purchasing
decision of customers. Thus, with the help of effective evaluation of consumer behaviour and
understanding that personal preferences, likes, dislikes, priorities, morals and values company
can undertake advertising in best effective manner that will attract and influence customer.
Behaviour of customers significantly controls the types of marketing strategies of organisation in
many ways. Thus, it is essential for Waitrose to gather essential information through surveys and
many more regarding the past behaviour of customers. By undertaking all these process company
can effectively able to serve customers as per according to the taste and preferences and can
further ensure long-term sustainability and profitability on international platform.
CONCLUSION
On the basis of above discussion, it can be said that marketing is an essential activity
pertaining to a business entity which is aimed at enhancing the reach of offerings of company at
international scale. Further, it has been analysed that principles of marketing are the key towards
inflating the goodwill of company in customers’ mindsets at a global level. In addition to this, it
has been acknowledged that ineffective marketing practices and activities lead to emergence of
the need to adopt alternative marketing strategies which seek to reduce the cost of company and
increase the sales and profits.
RECOMMENDATIONS
On the basis of above discussion, it can be analysed that Waitrose Limited has extensive
goodwill within the market of UK but it has failed to excel at international scale owing to
ineffective marketing practices and strategies. In this regard, to enhance the share of company in
foreign markets, the following suggestions are given:-

 The respective firm should make use of effective alternate marketing strategies such as
market development with a view to gain access into new countries and build a loyal
customer base there.
 As the entity is seeking to enter Denmark, it is important for Waitrose to develop healthy
relations with local companies and marketing agencies so that the knowledge about
consumer behaviour in that country can be gained and marketing practices can be
developed around it.

REFERENCES
Books and Journals
Sirajuddin, M.M. and Kumar, M.P.S., 2018. INNOVATIVE MARKETING STRATEGIES IN
RETAILING GIANTS: BIG BAZAR &D-MART. International Journal of Pure and
Applied Mathematics, 118(15), pp.151-156.
Telang, A. and Deshpande, A., 2016. Keep calm and carry on: A crisis communication study of
Cadbury and McDonalds. Management & Marketing, 11(1), pp.371-379.
Zook, Z. and Smith, P.R., 2016. Marketing communications: offline and online integration,
engagement and analytics. Kogan Page Publishers.
Brady, D. L., 2014.Essentials of international marketing. Routledge.
Clow, K. E. and James, K. E., 2013.Essentials of marketing research: Putting research into
practice. Sage.
Silver, L and et al, 2012.The essentials of marketing research. Routledge.
Babin, B. J. and Zikmund, W. G., 2015.Essentials of marketing research. Nelson Education.
Armstrong, G and et al, 2015.Marketing: an in
Ahmed, P.K. and Rafiq, M., 2013.Internal marketing. Routledge.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-
132). Springer, New York, NY