Sample assignment on marketing for managers

MARKETING FOR MANAGERS

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EXECUTIVE SUMMARY Marketing is the process for delivering, communicating, creating as well as transaction of offerings that have importance for consumers, partners and community at large. Mainly these operations are managed by marketing managers in the firm. Cooperative group is firm which offers better retail products to its consumers in the nation. The present report describes the marketing objectives and market mix and sales projections to prepare marketing plan for five years. Porter five model also contribute effective role for Cooperative group to measure the competition in the retail market. In addition to this, marketing mix helps the firm to promote and increase sales at different places of United Kingdom. Demographic segmentation aids the firm to divide consumers on the basis of age, income and gender in the nation. In addition this, management of cooperative group should conduct international market research to expand its presence in different countries.

Organisation should use Enterprise resources planning and Customer relationship management tools which help to provide appropriate consumers services by solving their queries in the nation.

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Table of Contents Executive summary .............................................................................................................................2 Introduction..........................................................................................................................................5 Task 1....................................................................................................................................................5 Marketing plan.................................................................................................................................5 Conclusion............................................................................................................................................9 References..........................................................................................................................................10

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Illustration Index Illustration 1: Porter five forces model.................................................................................................6

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INTRODUCTION Marketing can be defined as an art of exploring, creating, and delivering value to complete the needs of a target market with an aim to gain profit. It identifies unfulfilled requirement of consumers and desires. It targets only those segments of company in which firm is capable of serving best. In addition to this, it also designs and advertise appropriate product of company (Cohen, 2011). Corporative group is an organisation which provides retail and insurance services to its consumers in the United Kingdom. The present report included marketing objectives, situational analysis, segmentation, Marketing Mix Strategy, Implementation as well as sales Projections.

Task 1 Marketing plan Objectives

The main objectives of Cooperate group is to contribute effective towards achieving complete goals in the market within given time frame.

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To increase consumer stack of organisation till 20 percent within 4 years.

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To Enhance the market share of corporation at least 8 % in 5 year.

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To increase frequency of 20 retail stores of cooperate group within 4 years in different regions of United Kingdom (Rawwas,Arjoon and Sidani, 2013).

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To increase 10 percent profit of Cooperative retail organization within 3 years.

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To increase 20 percent sales growth within 3 years in retail sector of United Kingdom. For international expansion of Cooperative group within five years at three developed countries like USA, France and Japan (Rahimnia and Hassanzadeh, 2013).

Market situational analysisManagement of Cooperative group can use Porter five forces model to measure the competition of retail market in United Kingdom.

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Illustration 1: Porter five forces model 

(Source: Cross, Belich and Rudelius, 2015)Threat of entry- It is high for organisation in retail market of United Kingdom. There are many new rival firms which coming under this market which create trouble for Cooperative group in the nation (Cross, Belich and Rudelius, 2015). They reduce the profit and sales of firm in the country. It can create issues to get its objectives in UK.

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Industry rivalry- It is very high for Cooperative group in retail market. In addition to this, ASDA, TESCO, Mark and Spencer use different strategies like providing their customers with discounts and special offers to attract consumers in the market. Organisation has to make these type of plans to increase its sales which can also help to fulfil its objectives in United Kingdom (Crouch and Housden, 2012).

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Threat of substitute- It is higher for firm in retail market. Organisational performance and

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cost of raw material affect the efficiency which create complexities to manage its retail operations in the nation. Currently, performance of Cooperative group is optimistic when compared with various rivals in retail market of Britain. 

Bargaining power of suppliers and Buyers- Generally, Bargaining power of vendor does not high for firm because there are many suppliers which can provide quality material in an affordable price in the nation (Leeflang, Wittink and Naert, 2013). This process also help to generate effective profit from the consumers in UK. On the other side, bargaining power of buyers is very high when comparison with other countries due to higher proximity of retail organisations in United Kingdom. Rival and cooperative groups provide various schemes to increase sales of its retail products in United Kingdom. This thing contributes effective role for firm to produce optimistic profit in the market.

Segmentation Management of cooperative group can use demographic segmentation to fulfil its objectives in the market. This process can also help the firm to divide consumers on the basis of age, income as well as gender in the United Kingdom. It can contribute effective role for organization to target the various consumers in market. For example, management of cooperative group also keeps all categories of retail product in order to fulfil needs of lower, middle, elite as well as premium class consumers in the store (Christopher, Payne and Ballantyne, 2013). This strategy also help the firm to increase its sales which contribute effective role to increase its revenues in the market. It helps in achieving effective profit from consumers in United Kingdom. In addition to this, Cooperative group also keeps all accessories of children like toys and different types of games which aid in enhancing its sales in the market. This process can also help the firm to increase rages of product which aids to create better market image in the market of United Kingdom (Theodosiou, Kehagias and Katsikea, 2012). This type of segmentation also contribute effective role for firm to earn better competitive advantages by providing effective retail products and services to consumers in the nation.

Market mix strategies Management of Cooperative group can cover 4 P's to make all market mix strategies which can help to cover objectives in the United Kingdom. 

Product- Management of organisation can deliver various types of product in retail market

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of nation. For example, cooperative group sell various types of products like domestic, electronics, food products, cosmetic items for man and women. It also includes clothes wears for the consumers in the market. This thing helps enterprise to increase its sales in market. This way, cooperative group can gain profit from consumers in the nation.

Organisation can increase its market share in United Kingdom (Singhapakdi, Koonmee and Virakul, 2013). 

Price- There are many type of pricing strategies like market oriented, penetration and market swimming strategy to sell its retail products. For example, Cooperative group also uses market oriented pricing to beat its rivals in the market (Hattula, Schmitz, Reinecke, 2015). Some times, it provides higher discount and special offers to its consumers in order to increase its sales which help to fulfil consumer stack and sales growth.

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Place- Mainly, all organisations choose effective locations to provide effective reliability to customers to reach its retail stores in the nation. For example, management of Cooperative group also choose effective places to cover maximum area. This contributes effectively towards the betterment of organisation as it increases the sales and revenue of retail product.

Firm also analyse government records to identify the higher populated areas which provide huge help to open new store in United Kingdom (Berthon, Plangger and Shapiro, 2012).

This thing also aids in fulfilling the objective of the cooperative group in the market.

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Promotion- Generally, organisation uses various strategies to promote its products in the nation. For example, Cooperative group can use social media, television, radios and newspapers which can help to increase sales and income of cited firm. Generally, all type people use things in their daily life. So firm can create effective awareness in consumers in t UK.

Implementation and control Management of cooperative group can implement these activities with the help of effective employees, other resources as well as arrangement of monetary funds. Organisation requires various type of human resources who could perform sales, marketing, operation, computer operators etc.

These employees can help the firm to implement and control marketing plan by supervising the all strategies which are used to its increase growth in the nation (Cross, Belichand Rudelius, 2015).

They also help in managing various activities like sales of retail products to customers, record TOLL-FREE NO: +44 2038681671 WHATSAPP NO: +44 7999903324

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keeping and inventory management. This thing help the firm to execute and control these actions

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in the store. In addition to this, employees need other resources like computers, CCTV camera and proper infrastructure to manage store operations. Further, Cooperative group also needs monetary funds to spend on various activities like salaries for employees, purchase of various instruments and design proper furniture to arrange all retail products in the store (Crouch and Housden, 2012).

Managers also play important role to control all process to save time and money for cooperative group.

Sales projection Sales projection also contribute effective role for Cooperative group to forecast of sales retail products in the country. It help the firm to purchase raw material from suppliers which can help to save expenditure of firm in UK. Management of ERP tools can also aid the cooperative group to analyse forecast in future on the basis of various factors like demand, price and inflation and Gross domestic product rate in United Kingdom (Leeflang, Wittink and Naert, 2013). In addition to this, with perfect calculation sales projection, management of cooperative group can provide better product and services in an affordable price in the store. This way, organisation can get huge help to complete various objective like expansion of market share and enhance consumer stack in United Kingdom.

CONCLUSION From the report, it is found that objectives of Cooperative group helps in achieving its goals in the nation. Porter five forces model helps the firm to analyse competition in market which aids to make effective competitive strategies in United Kingdom. Further, demographic segmentation contribute effective role for Cooperative group to make better consumer strategies for product selling in the nation. In addition to this, skilful employees and other resources helps to execute the activities of marketing plan in market which provides huge profit to organisation. It can be concluded that sales forecasting of Cooperative group also aids in increasing sales of retail products in United Kingdom.

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REFERENCES Books and journals Armstrong, G., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.

Berthon, P.R., Plangger, K. and Shapiro, D., 2012. Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy. Business horizons.

55(3). pp.261-271.

Christopher, M., Payne, A. and Ballantyne, D., 2013. Relationship Marketing. Taylor & Francis.

Cross, J.C., Belich, T.J. and Rudelius, W., 2015, January. How marketing managers use market segmentation: an exploratory study. In Proceedings of the 1990 Academy of Marketing Science (AMS) Annual Conference. pp. 531-536.

Crouch, S. and Housden, M., 2012. Marketing research for managers. Routledge.

Hattula, J.D., Schmitz, C. and Reinecke, S., 2015. Is more always better? An investigation into the relationship between marketing influence and managers' market intelligence dissemination.

International Journal of Research in Marketing.

Leeflang, P.S., Wittink, D.R., and Naert, P.A., 2013. Building models for marketing decisions.

Springer Science & Business Media.

Rahimnia, F. and Hassanzadeh, J.F., 2013. The impact of website content dimension and e-trust on e-marketing effectiveness: The case of Iranian commercial saffron corporations. Information & Management. 50(5). pp.240-247.

Rawwas, M.Y., Arjoon, S. and Sidani, Y., 2013. An Introduction of Epistemology to Business Ethics: A Study of Marketing Middle-Managers. Journal of business ethics. 117(3). pp.525539.

Singhapakdi, A., Koonmee, K. and Virakul, B., 2013. Perceptions about ethics institutionalization and quality of work life: Thai versus American marketing managers. Journal of Business Research. 66(3). pp.381-389.

Theodosiou, M., Kehagias, J. and Katsikea, E., 2012. Strategic orientations, marketing capabilities and firm performance: An empirical investigation in the context of frontline managers in service organizations. Industrial Marketing Management. 41(7). pp.1058-1070.

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