HNB402 Marketing Processes and Planning
Introduction (HNB402 Marketing Processes and Planning)
Being one of the famous supermarket chains, “Leventis Store, UK” has aimed to incorporate a business with zero-waste policy. This presentation will demonstrate the concept of marketing for expanding the business in the UK market by the end of 2025.
The Concept and Role of Marketing in the 21st Century
The modern 21st century, the concept of marketing is related to delivering the customer experience. In the upcoming future, the future generations of customers are expected to have less time and more discretionary income (Heinze, 2019). Additionally, the market is constantly changing. In order to cope with the constant change of the market, businesses all over the United Kingdom are also influenced to deliver a superior experience to their customers. On the other hand, in terms of evaluating the role of marketing in this modern world, it needs to be mentioned that it helps organisations to engage their customers and achieve organisational objectives properly.
Roles and Responsibilities in marketing
Irrespective of the type of their business, marketing has some specific roles and responsibilities. In order to expand the business, The supermarket chain will hold the roles and responsibilities of planning and developing the merchandising strategies. This will help the organisation to analyse sales and figure and market trends.
Competencies Required to succeed
In order to remain competitive in the UK market, the supermarket chain is required to have some core competencies. They are efficient communication, adaptability, change and continuous learning. Dimitrescuet al. (2018) have opined that these core competencies within the organisation will help to obtain success in the workplace. In most cases, these will help to make continuous improvement. For instance, the level of effective communication in the organisation will ensure the compatibility within the workers.
Analysis of the sales, prices and Methods of Distribution, Forecasting trends and Marketing
Considering the market statistics in the United Kingdom, there are already quite strong competitors in the market. For instance, Asda, Sainsbury and Morrisons; these are the strong competitors that may prevent the supermarket chain from succeeding. Comparing the sales value of the supermarket with 2020, it has been observed that the market has grown by 5.1% Statista.com, 2021). The main headquarter of the business is located in the Netherlands. The presence of the supermarket chain in the United Kingdom has become one of the important points.
| UK Supermarket Chain | Current Growth | Expected growth in 2021 |
| Number of Stores | 800 | 1100 |
| Revenue | £4 billion | £6.5 billion |
Table 1: Current Growth VS Expected Growth (Source: Created by Author)
The process of Marketing Function and Its interaction with other Departments
The marketing function of any business mainly includes seven factors to achieve business objectives. Jobber and Ellis-Chadwick (2019) have stated that the entire process is related to these identified seven factors. Promotion is one of the important factors of marketing functions as it helps the organisation to build brand awareness and educate the audiences. On the other hand, there is an interrelationship between the organisational functions and marketing functions. Moreover, each of the departments in the organisation is connected with each other in a proper way.
Marketing Strategies and Consumer Opinions
Being a marketing analyst in the supermarket chain, it is important to introduce a proper marketing strategy. It has been observed that there are Several marketing strategies that have been used by supermarkets. Groucutt and Hopkins (2015) have opined that in order to achieve the expected growth of the business, The organisation is advised to incorporate an unique marketing strategy. In this case, the consumer opinions will be highly considered. The main reason for taking the customers into consideration is to help the organisation to achieve the organisational objectives.
Trends in Sales and Marketing
Considering the growth of supermarkets in the United Kingdom, it has been seen that the business has significantly grown by 57% over the past three years (Statista.com, 2021). This significant growth in the market is clearly signalling the supermarket chain to have a better future. Moreover, it has also been seen that a significant proportion of customers fall under the category of youth.
Factors that influencing Product Demand
In this modern world, there are several other factors that can influence product demand. In order to analyse the potential demand for the product, the organisation needs to analyse and collect the data on demographics, customer preferences, needs and buying habits. Besides, the price of the commodity is one of the major factors that decides the product demand (Marketing Donut blogs, 2021). Moreover, in this constantly changing market, the sensitivity of the product indicates that there are significant factors that can change the demand of the product very easily. In this case, the supermarket chain is advised to track down the product sensitivity.
The Process in which Marketing function supports the vision, mission and purpose of the organisation
As mentioned earlier, the marketing function of a supermarket holds various types of roles and responsibilities. It has been observed that the marketing functions are proving to be one of the crucial and beneficial factors that have obtained success for the organisation (Chartered Institute of Marketing, 2021). In terms of supporting the Mission, vision, and purpose of the organisation, it has been seen that the marketing function helps to access each and every task of the organisations.
Critical Reflection
In terms of reflecting on the role of marketing analyst in the marketing department, it can be stated that the information gathered on competitors has helped the organisation to conduct the analysis on the prices, sales and the methods of distribution. In this case, the thorough marketing analysis on its strategies and the consumer opinions has helped to manage the organisational decision-making process.
Conclusion
In conclusion, it can be stated that the expected growth of the supermarket chain can only be achieved if all the above-mentioned strategies and marketing trends are followed in a proper way. In this case, the supermarket chain is capable enough to obtain success in the future. The presentation has highlighted the market trend with the help of analysing the current situation of the supermarket chain.
References
Chartered Institute of Marketing (2021). Creating marketing advantage for the benefit of professionals, business and society. Available at: https://www.cim.co.uk/ [Accessed on: 05/01/2021]
Dimitrescu, A., Babis, C., Alecusan, A.M., Chivu, O. and Faier, A.M., (2018). Management of a marketing plan. Fiability& Durability, 1, pp.279-285.
Groucutt, J. and Hopkins, C., (2015). Marketing. Macmillan International Higher Education.
Heinze, J., (2019). Marketing Touchpoints-Putting Marketing Planning In Its Place. Against the Grain, 31(4), p.36.
Jobber, D. and Ellis-Chadwick, F., (2019). EBOOK: Principles and Practice of Marketing, 9e. McGraw Hill.
Marketing Donut blogs (2021). Marketing blog. Available at: https://www.marketingdonut.co.uk/blog [Accessed on: 05/01/2021]
Statista.com, (2021). Supermarkets in the United Kingdom – Statistics & Facts. Available at: https://www.statista.com/topics/1983/supermarkets-in-the-united-kingdom-uk/#dossierKeyfigures [Accessed on: 05/01/2021]
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