Marketing Essentials

Make a Brand Position: Continuous massive promotion and providing accurate information create a unique brand. When people will see, a new product offered by any particular company on different types of sources again and again, they will buy the product subconsciously. Once they will realize the product as needy product, they will start buying the product frequently. In this way, company can sustain for long period of time.

Introduce New Product/ Service though Promotion: An important objective of marketing function is to establish a product/ service in market. The continuous promotion of any though in market makes a good brand for the product. People gradually become used to purchasing the product due to promotional effect.

Reduce the knowledge gap of a product among customer: SAINSBURY’S with instituting a proper marketing strategy helps the potential customer to know the details about the product or services through its marketing function. The customer knows all the detail information of a particular product from the marketing function of SAINSBURY’S.

Identify the most unique product and services: with the heavy analysis of resource and development sector, the manager comes to a conclusion to find out an influential product or service that holds distinctive characters to attract customer.

Analyzing How Marketing Influencers and Interrelate with Other Functional Departments of The Organization:

Being a large organization SAINSBURY’S has so many important functional units to carry out its entire activities. Marketing is considered as one of the most influential functional activity of SAINSBURY’S. The application of marketing tools almost brings impact on all significant functional departments of the SAINSBURY’S. It is to be like that if the marketing manager can successfully institute its marketing activities, it enables another department to perform very well.

For example, the sales department heavily depends on marketing activities. The more unique way marketing manager will follow to capture large customer attention, the higher sales effect will come. It means the sales department will identify that their selling performance begins to rise due to strong promotion done by the marketing department. When SAINSBURY’S will see that their profit is rising from sales report then another department like production will be asked to produce a little bit higher production than the previous time they have produced. This is how marketing is related to another functional unit of SAINSBURY’S

Analyze the Value and Importance of Marketing Role in SAINSBURY’S

The marketing department of SAINSBURY’S takes so many effective marketing strategies. The effective strategy helps to create a large customer base and make a good value by establishing a relationship with the customer. As a consequence of taking an effective marketing strategy, the sales department of SAINSBURY’S gets an immense response from the customer. The entire process creates strong value for SAINSBURY’S. the primary objective of marketing strategies to create a good run position in people's mind. The adventure role of marketing helps to attain to create a good value and make it sustain for a long period of time. On the other hand, another important role of marketing in SAINSBURY’S is that it enables the internal function to work very effectively when the marketing manager takes the right decision on the right time to promote the entire idea to sell in the market. It gives the sense that there is a positive relationship between marketing and other functional departments within SAINSBURY’S. Marketing department connects different stakeholder when it operates properly.

Conclusion

The significance of having effective interrelationships between different functional departments:

Effective interrelationships between different functional departments mean that the company is connected to each department very strongly. Having such interrelationship chain different department provides SAINSBURY’S the way of implementing any kinds of activities very smoothly. Because when all the department has good communication with each other there will be no information gap, the company can take the decision very fast and it can generate effective decision as well as. Thus, the overall performance of SAINSBURY’S will rise due to the positive activities taken by functional department within SAINSBURY’S.

For example, before setting a price for a new product, the manager will communicate with another functional department to accurate information. all functional department will provide the update information to the manager so that the manager can give the best price range for the potential customer.

Task 2 (Part A)

Explaining How the 7P's Marketing Mix and Marketing process used to achieve business objectives

This part we will discuss the marketing mix and the marketing process of SAINSBURY’S and Pfizer UK to analyses how they perform their marketing effort.

Being separate business identity, they follow the same marketing strategy to render outstanding performance from the market.

Explaining how the marketing processes used to attain the business objectives:

As this study talked earlier about the marketing process of SAINSBURY’S include situation analysis, marketing strategy, marketing mix decisions and implementation and control of marketing plan. Now it is analyzed actually how it works properly

Situation analysis and formulating marketing goals and objective: Situation analysis provides s the details picture of a particular fact before taking a decision. Its analysis both the internal and external situation of a company by a manager before implementing a decision. It is mostly undertaken by three important factors which are the company, its product, and the target market.

Marketing goals and objective of SAINSBURY’S (hypothetically assuming)

• To increase sales of its product and acquire 30000 new customers
• Increase the online order by 30%
• The shifting of 15% and customer to the paperless bill payment system

Above objective can be fulfilled in the following ways.

The Company will start affiliate marketing to enhance its selling ability. It will gradually to get a new customer and to sell its product. Advantages of affiliate marketing are to provide online transaction facilities for its new customer. Or the company can give incentive to those customers who will use an alternative transaction for purchasing product than paper bill payment. and continuous promotion and rating of the product may bring 15% order more.

Part B

Marketing plan for SAINSBURY’S to meet marketing objectives:

Assuming company wants to introduce a new healthcare product name Nutrition+. The company needs to rebuild its marketing strategy to attract the children and their parents for its brand-new product. This part will discuss how SAINSBURY’S can make a marketing strategy for Nutrition+ as child product

Keeping the organization set to conquer earlier aim and objective through new product. The objective was

• To increase online sales of its product and acquire 30000 new customers
• Increase the online order by 30%
• The shifting of 15% and customer to the paperless bill payment system

Now, SAINSBURY’S has to following task

Target Market: The company set first of all children as target customer as the new product offered by the company are related to children. Secondly, the company set only lower middle, upper middle and upper classes family as the target customer. Because the below lower-class family cannot afford to buy this product due to their financial restrictions.

SWOT Analysis:

The common analysis that is mostly used all type of marketing strategy which will tell about what are the internal and external situation of the product.

7Ps Marketing Mix with Details of Different Tactics With an Action Plan

Product: The company will produce Nutrition+ with different flavor keeping the standard of food agency. It will design the product in such a way that will contain all ingredients of product materials.

Price: The company will follow market skimming pricing strategy and it will charge from £25 per 2.5 kg items and £15 for 1.5 kg items.

Place: Firstly, the product will be available to the supermarket and hypermarket so that the people can easily find out the product. Secondly, the product will be available to different types of renowned who seller for massive available of product in the market.

Promotion: The company will heavily Depend online promotion especially in social media. Because today's global world is much more dependent on social. Apart from that, the company has to keep some sort of buzz among local market to promote its idea.

Physical Evidence: The company will use the catalogs and banner in different types of the retail store so that the customer can easily get detail about the product and its price.

Process: The organization will have an option of sending the product to the door of the customer with having a little bit of charge. This process will help to gain customer loyalty.

People: People who will be assigned to work with promoting this new product, bound to learn detailed information about the product. They have to ensure the high communicative skill to work under this team.

Above strategic can successfully help the organization to implement its new product in the market.

Overall Cost Budget Analysis:

Per unit production cost for 1.5 kg will be £9 with all type of cost. Expected selling will be £15. Profit margin is 6 pounds. But the production unit cost will be decreased if the company can successfully produce a maximum number of products utilizing its resources very efficiently.

Measures for Monitoring and Evaluating Progress Towards Global Marketing Objective

Whether the marketing aims and objective are fulfilled or not will be known from the analysis of revenue generated from the marketing effort. The total number of customers will be compared with previous statistics. For example, in earlier without any marketing strategy company get near about 10 lakh order in a month. But at present, with a new marketing strategy, company gets near about 2000000 order within a month. This will decide that marketing aims and objectives are fulfilled.

But If the company gets less than 10 lakh order or equal to 10 lakh order after taking a new marketing strategy, it is said to be that the objective and aim of marketing is not fulfilled. On that time, the organization will take the correct measurement to monitor such a great deviation. It can further check policy to obtain its objective.

Conclusion

Above analysis give the findings that the company has to come up with a solid marketing strategy to implement the new product in a competitive market. No matter how much good product a company can produce, without a proper marketing strategy, the company can never expect a good performance from the product. but with a sound marketing strategy in your organisation can successful implement its decision to sell the idea that it has produced from its operation. Using different types of tools and technique of marketing strategy, a company can install a superior marketing strategy which may help the organization to render outstanding sales performance.