Entrepreneurship & Marketing Plan: Wilkinson's Growth Strategies

This report presents a comprehensive marketing plan for Wilkinson, a family-owned retail business operating in the UK and Hong Kong. The plan includes a company background, product offerings, and a situation analysis utilizing SWOT to identify strengths, weaknesses, opportunities, and threats. It outlines specific marketing objectives focused on boosting market share, sales growth, profitability, and customer base expansion. The report details Wilkinson's segmentation, targeting, and positioning (STP) strategy, emphasizing its focus on households and the working class through convenience and competitive pricing. The marketing mix (7Ps) is thoroughly analyzed, covering product, price, place, promotion, people, physical evidence, and process. Furthermore, the plan proposes marketing strategies based on innovation, growth, and efficiency, incorporating lean and TQM methods to reduce costs. The report concludes with recommendations for aligning resource usage, focusing on continuous improvement, delivering qualitative services, and maximizing employee skills, alongside an evaluation and implementation procedure. The goal is to gain market share and minimize resource consumption.

Marketing & Entrepreneurship
Marketing Plan of Wilkinson

Content Covered
• Introduction
• Company Background
• Products Offered
• Situation Analysis
• Marketing Objectives
• Segmentation, Targeting & Positioning
• Marketing Mix
• Marketing Strategies
• Recommendations
• References

INTRODUCTION
Marketing plan is prepared by the company to set a path that
can be followed by employees as to achieve targets and goals
more efficiently.
It is very vital as it provide protection against uncertainties
and also boost organisation ability to function.
This presentation will state about the marketing plan prepared
for Wilkinson for enabling company in attaining targets and grow
faster.

COMPANY BACKGROUND
Wilkinson is a family owned business which was started in 1930. It is
operating in the competitive retailing market and steadily growing.
The company has more than 300 stores in UK and recently opened its first
store in Hong Kong city.
Currently company has a revenue of 1.5 billion pounds and it is running at
a operating profit of 67 million pounds.

PRODUCTS OFFERED
There are diversified range of products and services which are offered by
Wilkinson or Wilko. They focus on households and try to fulfil all the needs
and wants a family have.
The product range is divided into two parts:
Prime Sector Secondary Sector
 Household essentials
 Home wares
 Textiles
 DIY
 Cleaning goods.
 Health and beauty products
 Stationery
 confectionery
 Pet products and bathroom
goods

SITUATION ANALYSIS
This is conducted to assist managers in identifying factors which can
be used for managing issues in the working of company.
SWOT analysis is used by Wilkinson's (Wilko) to identify:
•Strengths
•Weaknesses
•Opportunities and
•Threats for the firm

Cont.…
Strengths
 Diversified portfolio of products
 Company own popular labels
 Good engagement with market
 Effective man-force with efficient
working
Weaknesses
 Not technically sound.
 Lack of innovation and
investment.
 Very poor record in CSR
activities
Opportunities
 Venturing into Online market
 Engagement with private
labels(product manufactures)
Threats
 Engaged in price war with major
retailers
 Massive pressure to keep prices
low
 Environmental instability
Competitors: Tesco, Saisbury, Morrisons, ASDA.

MARKETING OBJECTIVES
These are the objectives which will state about the reason behind change
in plan.
It will also assist in aligning Wilko's objectives with marketing objectives.
Corporate Objectives Marketing Objectives
 Boosting company market share  Registering a growth rate of 4%
in sales of products.
 Increasing profitability  Increasing customer base by 2%
 Developing better environment  Enhancing efficiency ratio by
10%

SEGMENTATION, TARGETING &
POSITIONING
Segmentation refers to bifurcation process where managers divide
market in small groups as to target them properly.
This allows company in focusing on it actual customer while attracting
potential ones.
The STP of Wilkinson is as follows:
Segmentation
Wilkinson bifurcates market
on the basis of age, income
and lifestyle.
Targeting
It puts more focus on attracting
households and working class which
needs one stop shopping.
Positioning
A lower price, convenience shopping experience at one stop. Also
company puts special focus

MARKETING MIX
The company is has to control these 7 factors for managing market
trends and dynamics while selling its products and services in large
quantity.
The marketing mix of company is as follows:
Product: Offering different ranges of product and increasing number of
private labels.
Price: Setting price as per quality of products and features offered.

Cont....
Place: Expanding into international market will allow Wilko in gaining
more customers.
Promotion: Using social media and other sources is being adopted.
People: With new stores requirement of new employees will be there.
More rewards for performance.
Physical Evidence: Enhancing quality of products while refurbishing
stores to make them future ready.
Process: Sticking to core competencies while developing more.

MARKETING STRATEGIES
Wilkinson will be using various strategies as to engage market forces
in a competitive manner.
Wilkinson primary strategies are based on three aspects and they are
as follows:
 Offer: Innovatively attracting customers.
 Growth: Using innovation as a tool to satisfy consumers
 Efficiency: Usage of lean and TQM methods to control cost and
add more value.