Marketing Processes And Planning Part 2 Case Study

Introduction - Marketing Strategy and Competitive Analysis of Wheezy

Online Grocery industry in the UK has been growing at the faster rate in the current situation. The current report is based on the marketing plan of the Wheezy Company which is planning to launch healthy and energetic bars in the market. Brexit has negative impact on the working of the organizations in the UK and leding to the increasing the inflation. The Company is able to create the loyal customer base but lacking behind in providing the healthier option to the individual. The company is aiming at increasing the sales by 10% at the end of the current year for which the marketing plan have been produced. The company is using the cost effective strategy for determining the price and social media marketing for promoting the product in the market. KPIs and the benchmarking technique have been used to determine the efficiency of the marketing plan.

Situation Analysis

Pestle analysis

Political factors: Rule and the regulation for the working of the UK retail industry has been impact by the Brexit. This had created political instability and uncertainty in the country (Pestle analysis of the retail industry in UK, 2023). The government has continuous change in the tax policy if the country impacting the cost for the organization.

Economic factors: The inflation rate in the country has been increased which have changed the spending pattern of the customers. There is high fluctuation in the currency because of the brexit.

Social factors: The Company is impacted by the changes in the needs and preferences of the customer. These will include the changes in the lifestyle, attitude and the buying habits of the customer which impact the profitability of the company.’

Technological factors: Regular up-gradation in the technology made it necessary for the company to invest in the new technology. Increasing the use of the digital method to complete the routine task and identify the upcoming trends in market.

Legal factors: The organization needs to compile its operation with the legal requirement of the retail industry. The company needs to follow the standard if the FSA target and the food safety.

Environment factors: The UK government has paid emphasis in the zero wastage policy which the company needs to follow (Achinas, et. al, 2019). The packaging of the product should not include the plastic and material must be recyclable.

SWOT analysis

Strengths: Company is operating on the online mode so it has covered a large number of customers. Provide goods at the cheaper rate as no middle man include in the process of the distribution which helps in attracting more customers. The company is able to create the customer loyalty by properly attaining their feedbacks and solving queries.

Weaknesses: The Company is unable to provide good according to the customization because of the small areas of operation. The offering is not including the healthy food options which do not attract individual with the healthier lifestyle.

Opportunities: Today, most of the individuals are focusing toward the healthier option in the food & drink sections (Phadermrod, Crowder and Wills, 2019). The company did not have much option for the healthier and the energetic food & drinks. Products in these ranges should be introduced by the company which will help in attracting and gaining new customers.

Threats: In UK there is high amount of the competition in the retail industry which made it difficult for the small company to maintain their existences. As the company is following the penetration pricing strategy it will difficult for them to increase their profitability.

Porter 5 forces analysis

In the retail industry there is a threat of the new entrance in the industry as they are not so many complicated laws which need to follow for entrance in the market. In the retail industry buyer have strong bargaining power as the retail industry is operating in perfect competitive market (Arifin, et. al, 2019). The supplier does not have high bargaining power due to availability of large amount of competitors in the market. There is high threat of the substitution in the retail industry.

Market Objectives

The company is aiming at increasing the profitability to have sustainability in the industry. The goals could be achieve by the objective of increasing the sales by 10% at the end of the year.

Marketing Strategy

Segmentation, Targeting and Positioning:

• Segmentation: The Health bars will be segmented on the demographic basis. Hence, customers will be segmented on the basis of age and lifestyle.
• Targeting: The main target will be the individual with the age group of 14- 40year who are focused towards living a healthy lifestyle.
• Positioning: The bar is consisting of the protein and the fats in a balanced amount which will help in maintaining the energy level. The Product will be provided at the lower price than the competitors pricing.

Marketing Mix

There are 7 P’s of marketing which have been used to successful identification of the need & preference of the customer. It aims at launching the product which will be useful in satisfying their needs. The marketing mix related to new product launching by Weezy is as follows:

Product: The Company has undertaken the market survey through which they have identified that the individual in UK are more concerned toward the healthier and energetic bars. To fulfill the need of target market company has decided to launch the range of the healthy juice and bars.

Price: The Company will be using the cost Leadership pricing strategy which helps in determining the exact cost for the product (Jindal, et. al, 2020). The profit margin will be added to the cost of production which will help in determine the price of the product for the consumer.

Place: The healthier bar could be store for the longer time without the fear of being spoiled. The company will be using the online mode of the distribution for making the product available to the customers.

Promotion: Under this, the company is aiming at including the digital method for promoting three products (Li, Larimo and Leonidou, 2021). Social media marketing is the crucial strategy which will help in attracting more customers through giving advertisement on Instagram and Facebook. The company will also promote their product through the advertisement on the TVs. Influencer marketing will also be used which will help in aging the most of the young generation.

People: This includes various stakeholders which are been impacted by the profitability of organization. The customer feedback and queries will be solved by the implication of the websites where they can share their views. The company will focus on providing effective financial and non financial incentives which will helpful in retaining the employees in the organization.

Process: The Company is using direct selling method for offering products to the customers. This includes no involvement of the intermediaries in the distribution process which will help in reducing the cost for the consumers.

Physical evidence: The product will be sold with the primary packaging which will also be done with the material which does not impact the environment.

Action Program

Controls And Monitoring

The company will use the benchmarking technique to identify that the objective which has been set are achieved or not. Various Financial, Operational, and the HR key performance indicators will use as the standard on which the performance will be monitored. Deviation will be identified and the appropriate measure will be undertaken for reduce the differences.

References

Books and Journals

• Achinas, S., Horjus, J., Achinas, V. and Euverink, G.J.W., 2019. A PESTLE analysis of biofuels energy industry in Europe. Sustainability, 11(21), p.5981.
• Arifin, F.A.S., Syah, T.Y.R., Indradewa, R. and Pusaka, S., 2019. Sales and Marketing Strategies Duck Nugget Product Using Porter’s Five Force and SWOT Analysis. Journal of Multidisciplinary Academic, 3(4), pp.71-75.
• Jindal, P., Zhu, T., Chintagunta, P. and Dhar, S., 2020. Marketing-mix response across retail formats: the role of shopping trip types. Journal of Marketing, 84(2), pp.114-132.
• Li, F., Larimo, J. and Leonidou, L.C., 2021. Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda. Journal of the Academy of Marketing Science, 49, pp.51-70.
• Phadermrod, B., Crowder, R.M. and Wills, G.B., 2019. Importance-performance analysis based SWOT analysis. International journal of information management, 44, pp.194-203.

Online

• Pestle analysis of the retail industry in UK. 2023. [Online] available through:< https://www.scribd.com/document/117023053/pestle-analysis-of-retailing-industries-in-united-