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Marketing planning constituting marketing plan is a type of business document which is made for the purpose of describing current market position of a business organization and its marketing strategy for time period covered under the business plan. It is developed by organization for systematic functioning of business operations in order to achieve goals and objectives. Further, marketing also helps in transfer and exchange of gods and services with the help of different intermediaries. Moreover, the core importance of marketing is that it creates employment for the individuals as role of marketing has been spread within this decade or so. In order to understand marketing planning in a definite manner, organization undertaken for the present study is Argos Company which is a retailer organization having its operation only in UK and Ireland and it is a subsidiary of Home Retail Group. This present report focuses on reviewing the changing perspective in marketing planning. Further, this report will have emphasis on organization auditing for analyzing the internal and external factors. This report will further access on main barriers of marketing planning.
This plays an important role for Argos as sometimes organization own plan can lead themselves into a big problem. Being a trusted retail organization in UK, Argos has to fulfill their customers’ demands by identifying their necessities and wants. Further, this shows that cited company have to determine the market demand, customer's taste and their competitor’s strength and weakness. By analyzing all the above factors, mentioned retail company can now compare their own position in the market place. Further, mentioned company can conduct SWOT, PESTEL, Porter Five Force model in order to see the stability and competence of the cited organization. This will certain help Argos to give tough competition to their major competitors like Tesco, Asda, Sainsbury and company can get competitive advantage with it.
Marketing mix element
Marketing mix elements consists of product, price, place, promotion. Apart from these elements, Argos also focuses on excellent features of products and service, packaging and building goodwill. These all elements attract consumers towards organization products. However, price of the product plays a specific role as organization focuses on developing best of the products to their customers at a reasonable price. Furthermore, organization stores are at convenient place and they are easily accessible by customers for shopping.
Market-led is a strategy where Argos identifies the needs and wants of consumers and these needs helps mentioned organization to develop and serve products and services to customers. This process is only possible when aforesaid company do a specific market research.
Organization capability is considered as ability of company which is generally verbalized in the form of human resource, physical and material resources like machines land as well as building, financial resource as well as different intellectual resources. Argos is considered as one of the recognized brand in UK in retail sector. Corporate is trying their best to give their top competitors a stiff competition by increasing the size of products. Further, mentioned company is focusing on a marketing plan which shows clear stated objectives for coming years. Organization is successful because of their prior concentration on a specific country as Argos having its existence only in UK and Ireland. Cited company can successfully implement their all the major resources especially the human, financial and physical and material resources for getting a competitive advantage as this will help Argos to increase more of the revenue and productivity.
Furthermore, organization has a wide range of products which are categorized in different segments which satisfies individual’s needs up to a great extent. Argos also has many owned and exclusive brands which gives customers lot of confidence when they buy some product from aforesaid company. Moreover, organization is considered as number one in some product categories. Along with their retail outlets, Argos has approx. 900 million websites and app visits by their potential customers. Mentioned company also constitutes more than 53000 products which automatically attracts consumers towards their products.
There are various ways of organizational auditing which Argos can implement in order to increase their products size as well as revenue and profit with developing their product Portfolio. Argos can do SWOT analysis in order to carry internal analysis of business organization. With the help of SWOT analysis, mentioned organization will come to know that what are the positive elements in them and also what they lack in as compared to their competitors. Moreover, mentioned company strength is there strength of stores in UK as Argos have almost 800 stores in UK. Further, company also seeks there strength in providing online services to the consumers for their comfort and relaxation. However, with all such capabilities cited company have some drawbacks which can affect their brand image and turnover. Controversies like Sunday working affecting the performance of individuals working in the retail stores. Further, with such a stiff competitive, cited organziation si not able to increase their market share. Companies threats can affect the revenue and they have to overcome in quick time period. These are generally related to the international expansion of different brand which will also give tough competition. Further, major changes made by the UK government in the retail industry in terms of policies and regulations.
Further, Argos can conduct a PESTLE analysis in order to scan the external environment for improving their productivity and it will help Argos in a significant manner. This analysis will help corporate to know what are the factors affecting growth and profit majorly. Further, these are the factors majorly affects Argos plan and strategy and significantly these factors have negative impact on organization growth and revenue.
Moreover, competitors analysis will help mentioned company to know their major competitors. This analysis will broadly help Argos to know competitors objectives along with their strength and weakness. Further, for better productivity and revenue organization can also implement value chain method to develop a valuable product.
Macro environment analysis helps business organization to scan the environment in order to set their new policies as per the norms and regulations of UK body. These factors can increase or decrease the need of product and create entirely new product needs. Macro environmental analysis for Argos is stated below:
These factors having a great impact on mentioned companies products as government is trying their best to give consumers protection by various act, rules and regulations. Further, in order to ave them from eating disorder, government checks each and every food substitutes which tends to consume more time in order to reach towards customers. Argos have to function their business activities by considering the Food Safety Act 1990 and must produce only those goods which are essential and protect the human health.
Sometimes Argos faces economic changes which literally decreases the demand affects corporate revenue as well as the profit. Cited company also faces some restrictions in relation to various rules and regulations in tax policies, purchase of raw material from suppliers and different aspects.
Argos usually develops products by considering the needs and demands of their potential customers. Argos cannot force customer's to choose their products, the only thing which company can do is the effective advertisement which can attract the minds of individuals towards that product or service. Furthermore, organization faces problems because of customer’s perception, different lifestyles, income level of individuals etc.
Organization can improve their functional activities and profits by establishing new and updated technologies. Further, with effective design of the website and publishing their new products with the help of SEO can attract the customers which can increase the brand image and revenue of the company. Micro environmental analysis for Argos is done with the help of SWOT...
Quality of products
Organization have more than 53000 products which are categorized in home appliances, electronics, baby care, food products, beauty and personal care, clothing etc. These products satisfy customers need and wants on daily basis. Organization further has well developed goodwill and positive image in the eyes of UK customers.
Argos has a large range of products and these products will be increasing in coming time period. Mentioned company has their major focus on satisfying customer's needs and also to develop a loyal customer base. Modern packaging and design can attract individuals towards their
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