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MG529 Strategic Marketing

University: BUCKS NEW UNIVERSITY

  • Unit No: 9
  • Level: High school
  • Pages: 21 / Words 5226
  • Paper Type: Assignment
  • Course Code: MG529
  • Downloads: 34
Question :

This assessment will cover the following questions:

  • Evaluate how to analyze an ASDA’s current and future internal and external environments.
  • Identify and explain appropriate information to recommend and inform strategic marketing decision-making.
  • ASDA is a UK-based retail supermarket. Develop a strategic marketing plan to realize organizational objectives.
  • Provide recommendations for appropriate control mechanisms to measure and monitor the implemented marketing strategy.

 

Answer :
Organization Selected : ASDA

INTRODUCTION

Strategic marketing refers the procedure of organizing, designing, improving and applying to receive competitive advantage from targeting market. The process of marketing recognize strength of company which supports business to differentiate itself from other competitors. It plays significant role in company as it assist to achieve mission of the company by utilizing limiting resources effectively. Organization uses marketing strategy to lead sustainable advantage in competitive market. There is an example of ASDA company which uses marketing strategy to differentiate itself from competitors. It is a British supermarket retailer company which is headquartered in Leeds, UK. The parent organization is Walmart. In this report will cover market size and stakeholder analysis.

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MAINBODY

LO1

1. Market Analysis

Market size: Asda is a supermarket retailer industry which is founded in 1949. It operates more than 633 location in which 165,000 employee offers services to customers. The revenue of the organization approx £21.666million and net operating income approx £791.7 million. The subsidiaries of the Asda are Asda mobile, Asda money, Asda petrol, Asda supermarket etc. market share of the Asda approx 15.3%. Organization offers varieties products such as Grocery, general merchandize and financial services (Galati and et.al., 2017). Asda overtake Sainsbury's for becoming the UK's second largest supermarket, between 2003 and 2014, organization became second largest supermarket retailer company due to market share. Asda has given 30% contribution in UK's grocery market share.

Competitors analysis: Asda comes in 2nd position after Tesco in term of market share. Sainsbury, boots, Tesco and Morrisons are competitors of Asda. Tesco is ne of the biggest competitor of Asda company. Tesco is British multinational, general merchandiser retailer company which has market share approx 27.0%. Sainsbury plc is the third largest chain of supermarket company which has market share contribution approx 15.3%. It is the nearest rival of the Asda. Both companies retails same products in global market. Sainsbury gives big challenge to Asda in term of grocery products. Tesco has vast global presence around the world than comparison Asda (Josephson, Johnson and Mariadoss, 2016). Tesco and Sainsbury both has high brand power in global along with various resources. Due to high market share Asda overtakes Sainsbury and becomes second largest retailer industry.Need assignment help? Talk to our experts now!

Macro & Micro economic forces

Macro economic forces

To analyse market size and trend data use pestle analysis. It helps to examine and monitor economic forces which gives impact on organization performance and their operation.

Political factor: Instability of government, employment law etc. are political factor. It gives negative impact on organization because according to political norms' organization can trade their product in limited countries. It gives impact on organization growth as result Asda unable to promote brand value in different countries by retailing products to customers.

Economical factor: Foreign exchange rate, recession and inflation period etc. are economical factor which gives positive impact on organization because it keeps foreign exchange facilities for customers as result buying power of customers improves which alleviate economical scale of the company.

Sociocultural factor: Demographical changes are sociocultural factor which gives positive impact on company (Perera, 2017). For example people become health conscious that's why they require healthy food which can improve their life cycle. On other hand organization gets golden opportunity to give the value of the customers by executing sustainability trial store campaign. It improves customer life by reducing pollution and keeps them free from disease.

Technological factor: New technology plays significant role in Asda company because it offers online home delivery services to customers so that they don't have to come in store for buying products. Organization offers own software app services to customers where they can buy food and non-food item. Thus, organization improves their purchasing potential and retain them. It gives negative impact s well because new technology requires experts for operating new technology.

Legal factor: Employment and health protection law etc. are legal factor which gives impact on organization. For example health protection law give positive impact on company because it offers organic product for employees which is chemical free which is promoted by government. Employment law gives negative impact on Asda because according to governmental norms companies can't hire employee on law salary. It is beneficial for employee but doesn't give positive impact on company because it can't hire large number of employee.Take essay help now! Talk to our experts.

Environmental factor: Environmental protection law is economical factor where gets positive impact on organization because it introduces new recycle packaging which can reuse. This strategy promotes by government as well and improves customers loyalty on company.

Micro economic forces

Swot analysis

Strength: Asda is the second largest supermarket retailer company which has high brand power in market. It has wide variety of products and their services such as food and non-food item in which includes financial services. Walmart is parent organization of Asda which is golden opportunity to promote business and penetration.

Weakness: It has limited global presence which is the biggest weakness of the organization rather than competitors. It has limited resources for expanding business.

Opportunity: Organization gets opportunity to expand their business in pharmacies, jewellery and photo department (Dixit, 2017). Asda has opportunity to go investment into markets such as India, China etc. it supports organization to enhance brand value in various market.

Threat: Tesco and Sainsbury are the biggest competitors of Asda. Organization has price war with other retail chain which is also become big challenge for company.

Customer analysis:

Asda has main goal to provide the standard quality product to customers so that they get the value of the money. That why organization focuses on customer and their requirement and makes customer segment so that enables to meet each type of employees objectives. Based on customer demand, offers wide variety of products such as groceries, fast food, fashion trend services, financial services etc. the main goal of the customer segmentation to improve purchasing power of them. Asda access on market by isolating their subsidiaries i.e. Asda money, supermarket, Asda bank etc.

Stakeholder analysis: Asda is a British supermarket retailer company which offers wide variety of products along with services. That's why organization has different type of stakeholders such as customers, shareholder, employees, parent organization and government. Walmart is the main shareholder of Asda. It helps organization to enhance business and market penetration. Even Sainsbury also going to become shareholder of Asda. Company communicate with the stakeholder by its own websites, social media and internet. Customers are main stakeholder for the Asda that why it offers wide sources for communication and buying s. through the sources' organization enable to offers wide variety products to customers. Asda uses print media, newspaper etc. for market interaction.

LO2

2. Campaign goal

Asda is second largest supermarket retailer company in market which has main goal to reduce plastic and promotes customer to reuse and refill container so that environment doesn't pollute and enables to put pressure on Sainsbury's and Tesco. Organization uses this strategy to gain customer trust and put pressure on supermarket (Thrassou, Vrontis and Bresciani, 2018). To promote the strategy organization joins with UK's most powerful brand for introduction its own first sustainability trial store in Leeds, England. Asda gives statement for reducing amount of plastic uses since 2024. Organization allows shopper to give the feedback on their trials and offers new idea which can improve strategic operation's practices. Through the strategy organization wants to place pressure on supermarket companies.

3. Campaign strategy

Strategic goal of the organization:

To reduce plastic use Asda collaborates with UK's powerful brands so that they enable to maintain plastic use and offers pollution and chemical free food item. To make it successful organization gives “test and learn” facilities to shoppers where they can reuse plastic for food item such as Coco Pops, rice krispies and uni liver's PG Tips tea. Beside 0f this organization permits shoppers to give their feedback on strategy so that campaign can make more effective. The main reason of the strategy to differentiate own brand from other recognizable brand. This strategy makes Asda UK's first supermarket where shoppers can fill up their products such as Asda's coffee, rice and pasts in their own brand containers.

Market opportunity

Asda is UK's second largest supermarket retailer company which offers wide variety products to customers. The campaign strategy helps organization to promote the business in other market like India, China. In these market organization can retail their products on wide scale and improves brand power. Now days people become health conscious that's why they require organic groceries which give positive impact on their health. Second Asda is the UK's affordable market destination providing quality product. Government also promotes organization campaign which enhance loyalty of customer on company.

Target audience

Customers and competitors are targeted audience for the organization in which customers (majority of married living peoples) are main stakeholder for the Asda. It segments customers so that enable to offer demanded products and retain them prolong time with company. This campaign strategy enhance buying power of customers (Sahaf, 2019). Company offers multichannel communication facilities to customers where they can interact and can buy product according to their demand. Campaign strategy puts pressure on the Tesco, Sainsbury for the plastic. It reduces customer attention on these companies.

General campaign messaging

The campaign message “ Asda launches first sustainability trial store in England,UK”. Through the message organization information customers that they reduce plastic utilization by modifying plastic into reusable plastic. Company also encourages customer to reuse and refill food items in same container. It also offers “test and learn” facilities to shoppers where they can try in different way and can give feedback so that campaign become more effective. Asda also put pressure on the Tesco and Sainsbury's by the campaign message.

Read more: Introduction to Marketing - Marks and Spencer

LO3

4.Race Model

It is strategic planning model which can employ for digital marketing and allows action plan to makeover according to customer buying behaviour. Race model helps organization to develop digital marketing and offers multiple channel for interaction so that capable to deal with issues regarding approaching and targeting online audience and promotes them for online or offline sale (Chernev, 2018). Asda implements this strategic model for developing digital marketing and promotes multiple channel for communication to customers. The main goal,of the framework to lead awareness about campaign to peoples and competitors.

Reach: The main role of reach phase is to build awareness of brand, products and their services by digital platform, offline media so that enable to build traffic by various web presence sites such as microsites, website and social media pages. Thus, Asda gives involvement in different media for reaching large number of customers over the time.

Act: Act refers interaction which is second stage of race model. It boosts public interaction on websites and social media for generating challenges for online marketer. Asda use this interaction tool for keeping visitor's attention (David, David and David, 2017). Through the interactive tool organization enable to measure campaign supports which influences decision-making of Asda company. The second phase of race model helps organization to organize digital, platform for campaign marketing. Asda also spends their more time on websites and gives response on public shares, comment and likes.

Convert: it plays significant role in organization because it enables to convert marketing mission into sales by both media online and offline. Asda offers e-commerce transaction facilities where they can buy product and can do payment by online and offline channels. It gives positive impact as result purchasing power of customer increases that directly generates revenue and profit in company. This phase helps support organization to observe number of sales ratio by both channel i.e. online, offline etc.

Engage: This phase assists Asda to build long term relation with first time customers in term of build loyalty between company and customer as result organization enables to take sustainable profit by retaining customers. Through the campaign strategy, organization enable to establish loyalty among customers for the brand. Even organization allow customer for giving the feedback o that enables to lead effectiveness in campaign strategy.

Know more:Sample Reflective Journal Assignment

5. Marketing plan

(A) Multiple channels

Asda is British multinational retailer company which comes in second position as retailer industry after Tesco. To make successful of campaign strategy organization applies various media for communicate large number of peoples. It offers internet facilities in which includes own websites, own software app, e-commerce transaction etc. so that large number of customers can buy product in order to their preferences (Moutinho and Vargas-Sanchez, 2018). To influence brand power uses social media in which includes Instagram, Facebook, Twitter, LinkedIn, YouTube and Newsletter. Based on public like, comment and shares enables to measure brand value. Newspaper, print medial etc. also uses by Asda for marketing penetration and gives pressure on other competitors.

(B) Gantt chart

It is a bar chart which elaborates project schedule and tracks task performance in project. Asda utilizes Gantt chart for carrying digital campaign plan in well-formed manner. In this chart describes scheduled of social media for aware audience and competitors about mission of the commercialism. This chart is applicable for four weeks which can maintain by monitoring on daily basis.

First Week

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Facebook

8am to 10am

 

8am to 9pm

 

9pm to 10pm

 

11 pm to 1am

Twitter

 

11am to 12 am

 

8pm to 12pm

 

12pm to 2pm

 

Instagram

11am to 12 am

 

8pm to 12pm

 

12pm to 2pm

 

2am to 4pm

YouTube

 

2am to 4pm

 

11pm to 12pm

 

12 pm to 2am

 

LinkedIn

2am to 4pm

 

11pm to 12pm

 

10pm to 12pm

 

6pm to 8pm

 

 

Second Week

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Facebook

8am to 10am

 

8am to 9pm

 

9pm to 10pm

 

11 pm to 1am

Twitter

 

11am to 12 am

 

8pm to 12pm

 

12pm to 2pm

 

Instagram

11am to 12 am

 

8pm to 12pm

 

12pm to 2pm

 

2am to 4pm

YouTube

 

2am to 4pm

 

11pm to 12pm

 

12 pm to 2am

 

LinkedIn

2am to 4pm

 

11pm to 12pm

 

10pm to 12pm

 

6pm to 8pm

 

 

Third Week

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Facebook

8am to 10am

 

8am to 9pm

 

9pm to 10pm

 

11 pm to 1am

Twitter

 

11am to 12 am

 

8pm to 12pm

 

12pm to 2pm

 

Instagram

11am to 12 am

 

8pm to 12pm

 

12pm to 2pm

 

2am to 4pm

YouTube

 

2am to 4pm

 

11pm to 12pm

 

12 pm to 2am

 

LinkedIn

2am to 4pm

 

11pm to 12pm

 

10pm to 12pm

 

6pm to

8pm

 

Fourth Week

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Facebook

8am to 10am

 

8am to 9pm

 

9pm to 10pm

 

11 pm to 1am

Twitter

 

11am to 12 am

 

8pm to 12pm

 

12pm to 2pm

 

Instagram

11am to 12 am

 

8pm to 12pm

 

12pm to 2pm

 

2am to 4pm

YouTube

 

2am to 4pm

 

11pm to 12pm

 

12 pm to 2am

 

LinkedIn

2am to 4pm

 

11pm to 12pm

 

10pm to 12pm

 

6pm to 8pm

 

6. Budget

ACTIVITY

AMOUNT

Market analysis

£1600

Content creation

£800

Social advertisement

£1100

Social engagement

£500

Software

£700

Promotion

£300

Total

£5000

LO4

7. Key Performance Indicator (KPI)

KPIs assist organization to measure and lead new visitor for individual organization site and yields success on social media marketing. There are various indicators which helps to measure effectiveness of operation. Asda uses the KPIs for leading high success of campaign. Indicators are-

Engagement: It is first area of social media where can measure effectiveness of operation. Organization uses the first KPIs to observe effectiveness of strategic campaign. Organization measures engagement by clicks, shares and comment of public on social media regrading campaign. Thus type engagement of people show that how many people update for the post which improves brand power of organization.

Reach: Asda can enable to reach new people and builds relationship with them by giving response on their feedback and comments. Organization measures by followers, impression, traffic data etc.

Customers: Asda enables to covert public into customers by improving their trust on brand. Organization offers feedback facilities to customers where they can give comment on products quality and their services (Banerjee, 2017). Beside of this organization allows customers to suggest idea which can improve product services. Thu organization gives value to customers and improves their buying potential.

CONCLUSION

  • Asda can maintain their interaction continue with their audience if organization give value to each segment customers. It can improve customer loyalty and improves trust of audience. That why organization should give value to the customers.
  • If organization uploads real information on social media regarding their operations can improve audience interaction. Thus, organization can maintain followers like.
  • Asda should spend more time on social sites and gives response on their concerns which can lead effectiveness in audience for brand.
  • The latest campaign strategy which is introduced by Asda for influencing customers and audience trust on brand should maintain over the time. Thus, organization can maintain continue engagement with customer on digital platform.
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