Evaluation of Morrison's Marketing Strategy

2742 words (11 pages) Business Assignment

18th Nov 2020 Business Assignment Reference this

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Executive summary

Promotion leads to the advertising among the various media channels of Morrison's products. 7Ps design includes a number of solutions. On the other side, the other Sainsbury company is more effective in the design of the 4Ps than the system of the 7Ps. Digital marketing can assist with effective promotion and marketing and create better incentives. This highlights the fact that Morrison advertises on their goods, marketing practises, relationship management, and many other business basics. All the variables are ultimately responsible for Morrison's market development and growth. This is the basic concept behind Morrison's innovative marketing approach to creating an effective business as a result.

Section 2:

Introduction

To accomplish a successful business target, a promotional blend approach is used. Using the 7Ps template, marketing mix approach can be defined accordingly. The 7Ps model mainly involves these four factors in analysing the market associated with the marketing of Morrison's products.  Morrison uses the template of 7Ps relevant to their analysis in sales. Morrison's simple marketing strategy is largely subject to the assessment of the organization's future business context. This also highlights the fact of different sales approaches. Morrison's successful marketing strategy is used to improve their company by determining the needs of the consumer and delivering goods appropriately. It helps to Morrison's business success, which in turn brings the organization's productivity.

Comparisons of different ways of the advertising strategy to reach a successful business target

The 7Ps design is one of the popular marketing models among the marketing models. To accomplish a successful business target, Morrison always implements this template. The key utility of the 7Ps template, as reported by Purvis (2015, p.19), lies in setting their business goals. To evaluate the business mix strategy as compared to other organisations, Morrison has adopted this. That, in effect, would allow Morrison no other companies to optimise their profits. These include the following:

Products/Services:

This approach primarily involved the way Morrison's products are developed. It also means developing the relationship and supporting customers with the business by understanding the marketplace and people's needs. Lane (2015, p.28) suggests that Sainsbury's gives their clients great opportunities in the area of a promotional blend. The main concern for Sainsbury is the possibility of quality management. Therefore, in Sainsbury, the attitude to products and services is much more successful than Morrison.

Prices:

This approach describes how the pricing model can be modified and developed. Morrison was vulnerable to this situation. As Baker et al. (2016, p.135) said, changing and improving the pricing model contributes to the growth and development of Morrison's company. That, in effect, adds to the result of their productivity. In contrast, Sainsbury's pricing policy is a competitive pricing policy rather than price cuts.

Place and access:

Morrison offers their clients with some new distribution choices so that consumers can order their goods.  As Pappas (2017, p.28) has stated, Morrison provides its customers with online facilities wherever possible. It also includes facilities provided by Morrison to the customer in-store. This is the basic idea behind this approach that helps to better understand the customer in order to achieve a stable market position. Sainsbury also offers customer services online. And for both the company, this situation is the same.

Promotion:

That, in effect, would help in more consumer purchases for their goods. According to Rancati et al. (2016, p.39), revenues, in effect, lead to growth and advancement of their company. In addition, it adds efficiency to the company of Morrison. This is the basic assertion of Morrison's topics of this strategy. Sainsbury is very efficient in advertising using social media sites. For both the businesses, this situation is also the same.

Partners:

In order to reach their market to a large extent, Morrison is trying to establish a good partnership with a successful media company. It, in effect, helps in the people's success. It translates to a large sales goal culminating in a subsequent turnover.  As Piñeiro-Otero et al. (2016, p.39) have reported, Sainsbury is not liable for this fact.

People:

This involves Morrison's commitment to develop their consumers ' online services via numerous social media sites. This mainly means Morrison's spending to achieve its reputation with consumers, which in turn leads to a market result that is surplus. According to Kent et al. (2018, p.275), this definition primarily conveys the idea in this chapter. Similar with Morrison, Sainsbury has an active digital customer service.

Physical evidence:

This strategy requires product satisfaction. Through producing effective services according to customer requirements, Morrison is trustworthy for their clients. According to Brychkov et al. (2017, p.74), customers are also receiving very good behaviours from their employees that attract customers to them. Physical evidence relates to this theory, which is the fundamental point of this method. Sainsbury has a very strong strategy to meet the needs and expectations of its clients.

Figure 1: 7Ps model

(Source: Influenced by Cluley 2018, p.74)

Evaluation of different tactics applied by Morrison

Morrison precedes their company after evaluating the marketing strategy and addressing other criteria. As Cluley (2018, p.74) has reported, such considerations include:

Political Factors:

Morrison's political factors include the rules and regulations companies follow in order to effectively carry out their business.

Economic Factors:

Morrison's key goal is to maximise its profits. As Pappas (2017, p.28) has said, this in turn leads to their undue concern for their demise in company.

Technological Factors:

Morrison is based by the effective use of various technologies to increase their production and sales levels. As Kent et al. (2018, p.275) claimed, this in turn leads to a market surplus outcome.

Morrison also implements the above-mentioned 7Ps template to meet their business goals.

Figure 2: Different influencing factors

(Source: Influenced by Kent et al. 2018, p.275)

Evaluation of a simple marketing plan subjected to Morrison

The simple marketing plan includes Morrison's marketing strategy. To establish a successful business, Morrison implements different marketing tactics. As mentioned by Baker et al. (2016, p.135), the basic idea behind Morrison's marketing strategy is to properly implement the positive campaign according to a specific time. Lane (2015, p.28) suggests that Morrison's main strategy is to meet the requirements of their clients and offer goods according to their desires. That, in effect, helps in their high productivity.  

Morrison's advertising strategies primarily include tactical communication. There are certain principles involved in strategic marketing. Morrison also follows these principles of strategic marketing to achieve a successful business. In this section of the report, the principles will be discussed using 7ps of marketing.

People Oriented Marketing:

The marketing strategy is developed and built based on the quality of the products on the market. As Brychkov et al. (2017, p.74) said, the company agrees on the price of the goods in such a manner that both its pricing policy and customers buy the goods. Morrison will also increase the sales target if they can provide better services through recognising the desires of customers. This method is primarily concerned with improving Morrison's efficiency, according to Kent et al. (2018, p.275). This is the premise behind the theory of individual advertising.

Competitive Advantages related to place:

It is important to plan a marketing strategy in such a manner that the competition will not have a significant impact on the business. Morrison will also provide their customers with some new distribution options to enable customers to purchase their products. As Cluley (2018, p.74) has said, this approach will only help Morrison. That's the concept behind the marketing strategy of competitive advantage.

Promotion:

It strategy involves, in turn, customer satisfaction. It involves offering different facilities such as reward cards; loyalty cards so that more items can be bought by consumers.  As stated by Baker et al. (2016, p.135), Morrison can provide online facilities to their customers wherever they can provide them. It involves Morrison's concept for digital marketing. This is the basic idea behind the marketing strategy for the reward system.

Partners:

The marketing strategy was associated about their brand name, brand image and company name. Morrison is also going to be responsible for this reality. As Brychkov et al. (2017, p.74) said their product name will make them worldwide more popular. It leads to a great target for sales that will lead to their successive turnover. This idea is supported by the partners that are subject to Morrison's strategy (see Appendix 1).

Profit:

Morrison's marketing strategy review gives an idea for Morrison's industry case preparation.  This will contribute to Morrison's further business growth. Kent et al. (2018, p.275) assumed that good management could also drive Morrison to a large extent due to its income from industry. It will also help to increase Morrison's reputation among its loyal consumers. It is therefore clear that strategic management plays a vital role behind the successful business of Morrison.

Price:

The adjustment and improvement of the pricing model has contributed to the growth and development of Morrison's company. As Kent et al. (2018, p.275) said, it is not only the business strategy that is responsible for the successful business, but also to the degree that Morrison is accountable. This will help in the competitiveness of Morrison as a consequence.

To create a successful business, Morrison is going to follow this notion.

Physical Evidence:

Physical evidence requires the customer's quality. According to Rancati et al. (2016, p.39), Morrison will also follow this advertising strategy in order to succeed in a subsequent company and benefit.

It is analysed, therefore, that Morrison's marketing strategy is very effective in achieving a surplus result.

Figure 3: Marketing plan for future

(Source: Influenced by Kent et al. 2018, p.275)

Detailed, coherent, evidence-based marketing plan to achieve the goals of an organisation:

Morrison's core marketing plan is the strategic business approach. There are different policies and strategies in the approach. This strategy is successful in producing profitable business outcomes. A framework known as the 7Ps method incorporates this strategy. According to Rancati et al. (2016, p.39), this template includes different considerations such as venue, income, physical evidence, collaborators, marketing, products and services, position and exposure. For increase profit and revenue, Morrison's can use better marketing strategies. Use various models such as 7Ps and promotional blend, it can improve the quality of products or services. As Purvis (2015, p.19) has said, digital marketing will contribute to the growth and development of Morrison's industry as well as its profitability would improve. Improving the partnership between client and company would enable Morrison introduce change to the business process.

Assess various tactics and steps to track and assess success to achieve goals and targets.

Conclusion

It can be concluded from the above analysis that market planning and the 7Ps model are very useful in achieving Morrison's efficient business. This provides a very clear idea of Morrison's economic strategy and effective policy execution. It is inferred that in order to achieve a successful business, Morrison is responsible for the fact of tactical market management. It is also evident from the above part of the report that Morrison is responsible for providing their active customers with good services in order to increase their sales target. It, in effect, increases the company's productivity as a result.

References

  • Boonpradub, W. and Thechatakerng, P., (2015). Brand Endorsement by Celebrity in Thailand: 7Ps of Marketing Mix and the Impact of Brand Alliance. International Journal of Trade, Economics, and Finance, 6(1), p.8. Available at: https://www.researchgate.net/profile/Pusanisa_Thechatakerng/publication/274137070_Brand_Endorsement_by_Celebrity_in_Thailand_7Ps_of_Marketing_Mix_and_the_Impact_of_Brand_Alliance/links/5516ae1d0cf2b5d6a0ef2d30/Brand-Endorsement-by-Celebrity-in-Thailand-7Ps-of-Marketing-Mix-and-the-Impact-of-Brand-Alliance.pdf [Accessed on 5 December 2018]
  • Brychkov, D. and Domegan, C., (2017). Social marketing and systems science: past, present, and future. Journal of Social Marketing7(1), pp.74-93.
  • Cluley, R., (2018). The construction of marketing measures: The case of viewability. Marketing Theory18(3), pp.287-305.
  • Kent, A., Dennis, C., Cano, M.B., Helberger, E. and Brakus, J., (2018). Branding, marketing, and design: experiential in-store digital environments. In Fashion and Textiles: Breakthroughs in Research and Practice (pp. 275-298). IGI Global.
  • Lane, P., (2015). Human resources marketing and recruiting: essentials of employer branding. Handbook of Human Resources Management, pp.1-30.
  • Luo, A., Roach, S., and Jiratchot, C., (2016). The effect of the 7Ps of the marketing mix on air freight customer satisfaction and repurchase intention. Journal of Supply Chain Management, 9(2).
  • Mallik, A. and Farhan, S.N., (2018). Customer Centric Approach Using 7ps of Marketing Mix. International Journal of Innovative Knowledge Concepts, 6(11), pp.136-149. Available at: https://192.169.213.57/index.php/ijikc/article/view/1524 [Accessed on 5 December 2018]
  • Pappas, N., (2017). Effect of marketing activities, benefits, risks, confusion due to over-choice, price, quality and consumer trust in online tourism purchasing. Journal of Marketing Communications23(2), pp.195-218.
  • Piñeiro-Otero, T. and Martínez-Rolán, X., (2016). Understanding Digital Marketing—Basics and Actions. In MBA (pp. 37-74). Springer, Cham.
  • Purvis, J., (2015). Human resources marketing and recruiting: Essentials of digital recruiting. Handbook of Human Resources Management, pp.1-19.
  • Rancati, E., Gordini, N. and Capatina, A., (2016). Conceptualizing and Measuring Content Marketing in Luxury Firms: An Exploratory Analysis. In Global Marketing Strategies for the Promotion of Luxury Goods (pp. 109-132). IGI Global.
  • Sainsburys.co.uk (2018) Sainsburys Available at https://www.sainsburys.co.uk/ [Accessed on 5 December 2018]

Appendix 1: Marketing strategy

(Source: https://www.easy-marketing-strategies.com/images/xMktg-Strategy-Process.jpg.pagespeed.ic.XNHZgrcgHG.jpg)

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