- Task 1. Understanding Marketing
- 1.1. Various Definitions of Marketing to Explain what Marketing Is
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- 1.2. The role of the organizational orientation
- Task 2. Product Development and Market Research
- 2.1. Identification of the Product and the Role of Market Research on its Development
- 2.2. Types of Market Research
- 2.3. The Limitations of Market Research
- Task 3. Marketing Mix
- 3.1. How the Marketing Mix Is Coordinated by Business
- 3.2. The Managerial Implications of the Marketing Mix
- Task 4. Marketing Strategies
- 4.1. Corporate Strategy of George at ASDA
- 4.2. The Importance of Monitoring Activity
- 4.3. The Evaluation of Actions
- Related Case Study essays
George at ASDA is the company that specializes in clothing products and accessories. The strength of the organization is that it owns and operates retail stores. George at ASDA is based in Lutterworth, United Kingdom. Moreover, it operates as the subsidiary of Wal-Mart Stores, Inc. The variety of the products include women’s clothes, such as socks, trousers, skirts and shorts, dresses, jumpers, cardigans, and tops. Moreover, George at ASDA provides baby clothes, school wear, lingerie, carry bags, and swimwear. Additionally, the company offers compact disc holders, universal serial bus drives, printers, shoes, and stationery products. Since the company was founded in 1990, it has a rich experience in the market. Consequently, the current paper intends to understand the marketing of George at ASDA, describe product development and market research, analyze marketing mix, and discuss marketing strategies.
Task 1. Understanding Marketing
1.1. Various Definitions of Marketing to Explain what Marketing Is
Speaking about marketing, one should say that there are many definitions of it. It means that marketing is a complex notion that presupposes building of many elements. Marketing is a management process that is based on the movement of goods and services to the customers. Marketing is a system that consists of the following elements: promotion, place, price, and product. Marketing is the activity to create, deliver, communicate, and exchange the products and services. Such definitions of marketing are relevant to George at ASDA. First, marketing of this company presupposes the movement of goods to the customers. For example, the operation is done with the help of retail stores in the UK. Second, promotion, place, price, and product are key elements of company’s marketing that help evaluate its strengths and weaknesses. Third, all stakeholders of George at ASDA are responsible for creating, delivering, communicating, and exchanging products and services of the company.
Marketing is regarded as an art and science of creating and delivering value to satisfy the needs and demands of the target market. Additionally, marketing builds the relationships between the brands and customers. Marketing is also the communication of information about a service and product to the audience. George at ASDA uses marketing effectively to succeed and grow. It delivers its products to the domestic and international markets. In addition, the company collaborates with many suppliers to guarantee high quality and catering.
1.2. The role of the organizational orientation
The organizational marketing orientation is a business model that determines the success of delivering products to the customers and the place of the company in the market. The marketing orientation consists of the following elements: customer orientation, competition orientation, and interfunctional orientation. George at ASDA has more customer orientation. Consequently, it tries to diversify its products and create them according to customers’ tastes and interests. Customer orientation has an important role as it provides long-term profitability and sales. Moreover, it increases the performance of George at ASDA as a large number of customers demand the constant innovations in products and change management process. Additionally, such kind of marketing orientation involves the emphasis on the target marker, learning its feedbacks, and improvement product, distribution, promotion, and price strategies.
Task 2. Product Development and Market Research
2.1. Identification of the Product and the Role of Market Research on its Development
Recently, George at ASDA has presented a new line of women’s clothes. Consequently, the target customers for the product are females. This product was implemented due to spring time and desire women to change their wardrobe. As a result, the dresses and blouses are bright and colourful that proves the fact that spring is approaching and new tendencies are in fashion. It means that George at ASDA conducted market research to understand what colours, styles, and silhouettes they should add to their new collection of women’s clothes. As the company took into consideration the customers’ tastes and interests, the new product would provide high sales and profitability. Consequently, market research is necessary for those individuals who are going to implement new product as it helps identify the specific details about customers, competitors, and tendencies in the market. Market research presupposes gathering the full information about the place of the product. As a result, it is the basement for avoiding the possible risks and hazards.
2.2. Types of Market Research
One can distinguish the following types of market research: primary research, qualitative and quantitative research, and secondary research. George at ASDA has performed the primary research to determine the key customers and their needs. This type of market research helps specify the product qualities and adapt them to customers’ demands. George at ASDA has also performed qualitative and quantitative research to understand customers’ perception of company’s products, their feelings, likes, dislikes, and their demands. It means that te company conducts testing to receive qualitative and quantitative information from the customers. Nevertheless, the organization has not performed the secondary research as they are unnecessary for their activity. The primary research helps determine the style of clothes, tendencies in colours, and silhouettes. The qualitative and quantitative researches help define the future profitability and sales of the new spring line of women’s clothes.
2.3. The Limitations of Market Research
Without a doubt, any market research has its limitations. First, there are budgetary constraints. Gathering and processing data belong to very expensive procedures even for such successful company as George at ASDA. Consequently, the company can avoid such expenses using the secondary sources that are less reliable. Another limitation is related to time. Any marketing research demands time and efforts. As a result, the improvement of position in the market is based on the quick decisions. Any market research is long-lasting. Another limitation is the reliability of data. Not all information received from the customers can be reliable. As a result, it is crucial to orient on the competitors and tendencies in the market. George at ASDA can avoid these limitations planning time, costs, and efforts to perform the diverse kinds of research.
Task 3. Marketing Mix
3.1. How the Marketing Mix Is Coordinated by Business
A strong marketing mix consists of the following components: price, place, promotion, and product.
Price strategy is one of the key strategies of George at ASDA as it influences the customers’ attitudes and behaviours. Spring blouses and dresses for women belong to the products that can vary in their prices. However, when it comes to the new collection of women’s clothes, the prices are high. The items from new spring line cost from $10 to $500. However, when the season is coming to the end, George at ASDA suggests the flexible system of reductions that attract more customers. It is evident that the company has its pricing strategy that is adapted to a specific market. In this case, George at ASDA tries to reach females that are the most numerous group of customers. George at ASDA belongs to the company with the moderate prices. Consequently, it is related to mass market.
Place strategy is another important component of the marketing mix that helps determine the most favourable locations for carrying business profitable. The new spring collection of women’s clothes is sold in the stores of the UK. However, George at ASDA suggests the online shopping as the most convenient means. Using the company’s website, the customer can find the suitable item of her size, colour, and style. Moreover, the website of George at ASDA provides the online users with the store locator that can help find the stores of George at ASDA easily. The largest number of stores is concentrated in London. It is obvious that the city is the most profitable location as it attracts many tourists and lovers of shopping. However, the customers of Liverpool, Glasgow, Manchester, Edinburgh, Bristol, Nottingham, York, and other smaller cities and towns can afford the new spring collection of women’s clothes of George at ASDA, as well.
The new product of the company is spring collection of women’s clothes that responds to the customers’ interests and needs. The collection includes blouses and dresses with bright and colorful prints that mark that spring is in the air. One can say that the products of this collection will be in the high demand among the female customers. George at ASDA pays much attention to the quality of their items as women are concerned about this. Moreover, the company provides the available system of returns and exchanges, and it is convenient, especially for those individuals who buy online. George at ASDA orients on the following features of its product: quality, universality, style, fashion, and tendencies in the market. It means that George at ASDA builds its product strategy according to the wants, requirements, and needs of the female customers, considering that they are very demanding and capricious.
Promotion is a part of the marketing of George at ASDA. When they have to deal with implementation of new products, promotion is the best way to achieve the success and increase the market share. Internet advertisement is the most practised by this company. George at ASDA puts the necessary information regarding a new collection on its website. It uses such social media as YouTube, Instagram, and Facebook to reach its customers who are the frequent users of them. Moreover, the organization uses print media and the official website to inform the customers about its innovations and product implementation. The promotion takes place when the product is launching as it is the best time to attract customers’ attention and provoke their interest. Consequently, George at ASDA should improve its advertisement constantly and be creative in the ways of reaching customers. One recommends the application of public relations as the effective way of promotion.
3.2. The Managerial Implications of the Marketing Mix
The managerial implications of the marketing mix of George at ASDA are the following: market orientation, strategic orientation, and organizational involvement. Market orientation is the implication for determining the price of the items of the new spring collection. Strategic orientation is the managerial implication for predicting the success of the new product in the market. Moreover, it is the basement for planning the promotional activities and finding new locations for the spring collection of women’s clothes. Organizational involvement is another implication for fulfillment of price, product, place, and promotion strategies. One can also refer employees in regard to implications as they are responsible for achieving the target strategies. As George at ASDA is a productive and profitable company, it encourages employees to work better and show the high performance. Performance is the implication for finding the effective promotional strategies, improving the product quality, and putting the new product in many stores.
Task 4. Marketing Strategies
4.1. Corporate Strategy of George at ASDA
The corporate strategy of George at ASDA is based on the business ethics, social responsibility, mission, purpose, and values corresponding to the customers’ needs. Such trategy intends to focus on the customers, shareholders, colleagues, and operating model. This marketing strategy helps fulfil company’s mission that is to be the best retailer in the UK. The company does it by means of the effective marketing policy that benefits succeeding and growth. The vision of the organization is to save customers’ money providing high quality at the reasonable price. George at ASDA fulfils it with the help of product and price strategies. The values of the company are the following: putting the customers first, caring for the employees, and striving to be the best. George at ASDA fulfils its values conducting market research and developing new products. The objectives of the company are to exceed customers expectations providing them with the most qualitative and unique items. The strategic direction of George at ASDA is to win the international market, and online marketing can help do this.
4.2. The Importance of Monitoring Activity
Monitoring of marketing is important to George at ASDA as it helps determine the strengths and weaknesses of the chosen strategies. Moreover, monitoring of marketing helps record and report progress toward goals. One recommends the application of Balanced Scorecard and Business Intelligence System to do it more effectively. Monitoring also presupposes the evaluation of the company’s financial resources. Monitoring of the performance is done through the innovative technologies and management information systems that make the process quicker and more effective. The monitoring activities of George at ASDA are based on SWOT-analysis, PESTEL analysis, and 5 Porter’s model. Such techniques help identify the gaps in marketing activities, plan new opportunities, and avoid the possible threats. The evaluation and control of marketing policy belongs to the essential tasks of managers. Consequently, they bear responsibility for making it frequent and effective.
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4.3. The Evaluation of Actions
The marketing actions of George at ASDA are effective and strategic, especially when they deal with product development. For example, the company always follows fashion and seasonal tendencies and reflect them in its products. The organization uses its human resources productively. For example, it conducts training and learning to retain them. Moreover, George at ASDA provides the career promotion and bonuses for the high performance and creativity. The marketing actions of the company are related to the expansion. The domestic expansion is done with the help of opening new stores, while the global expansion is done with the help of online shopping. It is evident that currently, company’s marketing activities are successful, and monitoring activities benefit them. Raising brand awareness is done through advertisement and public relations. For example, the website of the company is available to every customer. It is recommended to improve the distribution strategy as most stores are located in the big cities.
In conclusion, one should say that marketing of George at ASDA is strategic, effective, and correspond to the company’s mission and values. Product development is one of the main objectives of the organization that is done with the help of market research. George at ASDA uses primary, qualitative, and quantitative research to reach its customers. The marketing mix of the company is fulfilled in the full measure. The product strategy is based on the development of new items. The price strategy presupposes studying customers’ opportunities. The place strategy is related to finding new locations. The promotion strategy refers to creating positive brand name, favourable reputation, and image in the market. The marketing strategies are successful as they are based on corporate strategy, social responsibility, and business ethics. George at ASDA is the example of the effective marketing that is the strength of the company. Moreover, the company demonstrates that is ready to develop and move forward.