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Contents
TASK 1 ......................................................................................................................................................... 3 Role of strategic marketing: ...................................................................................................................... 3 Integration ............................................................................................... Error! Bookmark not defined. Monitoring and control ........................................................................... Error! Bookmark not defined. Long term planning ................................................................................. Error! Bookmark not defined. Competitive advantage............................................................................ Error! Bookmark not defined. Process Involved: ........................................................................................ Error! Bookmark not defined. Conduct a situation ................................................................................. Error! Bookmark not defined. Develop marketing objectives ................................................................. Error! Bookmark not defined. Determining the positioning ................................................................... Error! Bookmark not defined. Selecting the target markets .................................................................... Error! Bookmark not defined. Design a strategic market mix ................................................................. Error! Bookmark not defined. Link between Sainsburys corporate strategy and marketing strategy ........ Error! Bookmark not defined. TASK 2 ......................................................................................................................................................... 4 Do a SWOT analysis of Sainsburys....................................................... Error! Bookmark not defined. Which strategic option will be best for Sainsburys out of the following and why?Error! Bookmark not defined. .Prospective: ............................................................................................ Error! Bookmark not defined. Marketing objectives proposed: .................................................................................................................... 5 Product: ..................................................................................................................................................... 5 Price: ..................................................................................................................................................... 5 Place: ..................................................................................................................................................... 5 Promotion:............................................................................................................................................. 5 TASK 3 ......................................................................................................................................................... 6 Do a SWOT analysis of Sainsburys Fair Trade strategy ........................... Error! Bookmark not defined. How you are going to lead Sainsburys PLC in future ............................................................................. 7
TASK 1
Role of strategic marketing:
We can define the Strategic Marketing Management as it is to understand the term of marketing from the decision making and strategic point of view to generate more demand and customers. It is to keep in mind this the primary objective to generate more demand proper knowledge of market, customer profile, product, pricing, placement and promotional plan for the company. And in this research following components we intake; Current market analysis Market research Marketing segmentation Marketing mix Product Competition in the market Mission and vision strategies Budget Evaluation Time frame Time and action line Success indicators
External environments
More external forces affecting the organization will lead the strategies to be changed and that are needed to be focused during before and after the planning process of strategies. These factors are major areas that are kept in mind to get them reduced or utilize as per requirement of the industry or organization.
New Competition
With new competitors like Chinese air lines in the market that are cheaper in prices and providing highest and finest quality of the services are major threats and a factor that is kept in mind before designing the strategies. New arrival in market means more market share shell is captured by the competitor that will give him a competitive advantage over king fisher. These are the major parts and areas to focus more hard to reduce these incoming threats by increasing the barriers of entry in market by developing it so fast that no one could capture it. More new completion in market gives an impression that market is healthy and consumer is getting benefits but ultimately with passage of time market goes towards saturation and this is the time when we can say companies face more difficulties to capture the market share.
Financial Resources:
There are many resources that are always involved in planning process that also includes the huge obstacle for the organization those financial issues. These financial budgeting and planning recommend the sizes of the organization more effective and efficient ways to make decisions and to implement those strategic decisions
Products come in several forms. Consumer products can be categorized as convenience goods, for which consumers are willing to invest very limited shopping efforts. Thus, it is essential to have these products readily available and have the brand name well known. Shopping goods, in contrast, are goods in which the consumer is willing to invest a great deal of time and effort. For example, consumers will spend a great deal of time looking for a new car or a medical procedure. Specialty goods are those that are of interest only to a narrow segment of the population e.g., drilling machines. Industrial goods can also be broken down into subgroups, depending on their uses. It should also be noted that, within the context of marketing decisions, the term product refers to more than tangible goods and service can be a product, too.
Price:
The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product.
Place:
Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet. Promotion: It represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. A certain amount of crossover occurs when promotion uses the four principal elements together, which is common in film promotion. Advertising covers any communication that is paid for, from cinema commercials, radio and Internet adverts through print media and billboards. Public relations are where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word of mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. Sales staff often plays an important role in word of mouth and Public Relations
1. STRENGTHS
Major strengths of the king fisher organization are as follows. 2. Brand values of the organization is very strong and having very good repute in the mind frame of the customers. 3. UB group is the main organization that is parent company of the kingfisher. 4. It is the first airline of the Indian market that has new fleet of airplanes in its batch 5. New innovative business and creative plans to target new customers 6. There are more than 80 destinations around the area where it is flying. This feature is very charming for the customers as well as targeted market is very vast and active. 7. Cost efficient as there are 100- employees per aircraft.
2. WEAKNESSES
Where this organization is having strengths in line at the same time it is facing with complicated weaknesses like 1. Research and development process for the organization is very slow and not effective as it should be 2. It is under the heavy debt of 950crs that is huge billing from the oil providing organization. 3. Prices of the airline are very high as compared with other organizations 4. There are a number of players working in parallel with the kingfisher that shows that barriers are not higher for new entrance.
3. OPPORTUNITIES
1. There is still a big market share to be captured yet 2. International market is yet to be explored 3. Cargo planes can be introduced for its new market segment 4. Tourism market is not targeted yet that is big customers of companies like king fisher
4. THREATS
1. Demand of the industry is falling day by day due to high rates of the fare and tickets rates
2. Traffic capacity has been increased so flying has been decreased by the international air traffic control systems 3. High prices of the oils and other things 4. Economical collapse of the world 5. Issues regarding the infrastructure of the air ports of all the cities are not up to the mark
Bibliography
Blocher (2005). In, Cost Management (p. 730). F. F.-T. Tony Merna (2011). In, Corporate Risk Management (pp. 84-85).