Strategic Marketing Analysis in the UK Retail Industry

Introduction

The marketing strategic planning is important to be analysed in order to identify the organisational tactics to gain high competitive advantage in such high competitive market (Lim, 2021. The study is related to analysing different marketing strategies and critically evaluates its implications in business. For conducting in depth analysis, the research will be able to consider the retail industry of the UK and review the annual report and organisational website of the two firms, Tesco and Sainsbury’s. This analysis will be helpful to explore marketing strategies of the organisations and recommend some suitable practice through which the companies can achieve the strategic vision.

Background of the study

Marketing strategic planning is the overall game plan of the business to reach prospective consumers across the target market and turn them into customers of their products and services (Khan et al., 2020). In the rennet globalisation era, marketing strategic planning provides a scope to create value proposition of the firm as well as it helps to ensure kept brand messaging, data sharing with the target customers and arrange high-level elements to run the business operations successfully (Mahmoud, 2018). In this intensely competitive market, the organisations try to promote their products and services, so that the customers can access the products in the market and make effective purchase decision. Hence, the study is effective to analyse different marketing strategic planning and its effects on the business.

Research aim and objectives

The aim of the research is to analyse the strategic marketing planning and its contribution of the business. The business firms are Tesco and Sainsbury’s, which are two renowned corporations operating across the retail industry of the UK. The company analysis will be helpful to evaluate the marketing tactics of the firms and analyse the impacts marketing on business success.

The research objectives are such as,

To describe the 7P marketing mix strategic planning and its implications in recent business environment

To evaluate the marketing tactics of the firms Tesco and Sainsbury’s, to gain market share in the retail industry of the UK

To analyse the impacts of marketing strategies on the business

To recommend some suitable suggestions so that the companies would be able to promote the brand and run the business sustainably

Research questions

The questions of the research are such as,

What are the 7P marketing mix strategic planning and its implications in recent business environment?

What are the marketing tactics of the firms Tesco and Sainsbury’s, to gain market share in the retail industry of the UK?

What are the impacts of marketing strategies on the business?

What would be the recommend some suitable suggestions so that the companies would be able to promote the brand and run the business sustainably?

Rationale of the study

What is the issue?

In the recent years, the global market is highly competitive due to existing substitute products and increasing numbers of organisations operating in the market (Solimun and Fernandes, 2018). The brands are facing high competitive threats for which it is difficult for them to run their operations across the market profitably and creating huge numbers of customers. Decreasing profitability and poor market share are the major issues, for which the organisation focus on exploring innovative marketing tactics in order to connect with the customers and enhance market communication so that it would be possible to retail the old and new customers for the quality product and services.

Why is it an issue?

The issues are increasing over the period of time, due to increasing numbers of sellers and efficacy of other competitive brands in presenting their products and services in the market. The other reasons of such issue are low switching cost of the customers and huge availability of the substitute products in the market (Stead and Hastings, 2018). The companies are hereby looking for investing in marketing planning to achieve high competitive advantage by strengthening their customers base.;

Why is it an issue now?

It becomes a serious issue; due to increasing digitalisation process and online e-commerce services, where most of the organisations are operating through online selling process (Chou et al., 2020). The competitive brands are gaining high market share by engaging with the customers through computerised system and smartphone. the online selling practice and e-commerce operations are increasing which rise competitive threats and thus the business firms try to implement creative marketing tactics by designing products and services, setting affordable price, placing their products in the market and promotional activities in order to target the customers and retain them for long run.

How does the research shed light on the topic under consideration?

The research is significant to explore different marketing tactics that are adopted by the multinational corporations. The research is effective to analyse the firm’s strategies to promote the brands in the market. It helps to evaluate the 7P marketing tactics and suggest innovative strategies to the corporations to invest in marketing and evaluate the strategies on the business activities. There will be in depth critical analysis about the marketing strategic planning and its impacts on business, which will shed light on the successful marketing planning through which the companies can meet the strategic vision of the firm in long run.

Research methodology

The research methodology must be selected as per the research aim and objectives. In order to conduct this study, the researcher will sleet the deductive approach and the post positivism philosophy in order to gather theories and concepts of marketing and analyse the company’s strategic tactics to promote the brand in the market. The data collection methods are of two types, primary and secondary (Rutberg and Bouikidis, 2018). In this particular study, the researcher will choose secondary data collection method. For gathering theories and concepts of marketing, the researcher will review the secondary source of information such as books, journals and articles. On the other hand, in order to collet company specific information, the researcher will choose the company website, annual report and the online published article for reviewing the marketing tactics of the firms and evaluate the findings critically. Hence, the secondary data are effective in this study for conducting in depth critical analysis to meet the above mentioned objectives. On the other hand, the qualitative data analysis method will be chosen rather than quantitative data analysis, in order to evaluate the secondary information. The researcher will choose thematic analysis and will be able to develop different theme for analysing the marketing tactics and its impacts in the retail firms of the UK, where two organisations are considered here which are Tesco and Sainsbury’s.

Potential issues in conducting the research

Here are potential issues in conducting the research critically, and the major issues are lack of accessibility of the potential data and information, time shortage and lack of resources to complete the research. There is time bound, within which the research must be completed, and in this context, it is difficult for the researcher to conduct such in doth research within time, lack of authentic access of the journals and books lead to major problem for the researchers, where the researchers face problems in collecting effective secondary sources of information. Budget constraint is another major issue, where the researchers cannot afford the research activities and fail to collect authentic data and valid information. It further deteriorates validity and reliability of the data and information in the study. Data hacking is another issue, which should be talked through implementing the data protection Act 1998 so that the gathered information is ensured to be utilised only for the research purpose (Cardno, 2018). The participant’s information also will be kept with confidentiality management. Due to lack of critical analytical skill and decision making skill, it is also difficult of the researchers to conduct the in-depth research by critically evaluating the gathered data and information. The research is about strategic marketing planning, and without effective knowledge on theories and concepts of marketing, the researchers cannot progress in the study through in-depth critical data analysis. On the other hand, without access of organisational annual report, it is also not possible for the researchers to collect the brand strategies of promoting their product and services. It would be beneficial for the researchers to mitigate the issues and develop own skill to gather valid information and conduct critical analysis to meet the above mentioned research aim.

Time table

Gantt chart is effective to develop suitable time table, so that the research will be able to follow the activities and complete the research project within allocated time.

Reference List

Cardno, C., 2018. Policy document analysis: A practical educational leadership tool and a qualitative research method. Educational Administration: Theory and Practice, 24(4), pp.623-640.

Chou, S.F., Horng, J.S., Liu, C.H.S. and Lin, J.Y., 2020. Identifying the critical factors of customer behavior: An integration perspective of marketing strategy and components of attitudes. Journal of Retailing and Consumer Services, 55, p.102113.

Khan, E.A., Royhan, P., Rahman, M.A., Rahman, M.M. and Mostafa, A., 2020. The impact of enviropreneurial orientation on small firms’ business performance: The mediation of green marketing mix and eco-labeling strategies. Sustainability, 12(1), p.221.

Lim, W.M., 2021. A marketing mix typology for integrated care: the 10 Ps. Journal of Strategic Marketing, 29(5), pp.453-469.

Mahmoud, T.O., 2018. Impact of green marketing mix on purchase intention. International Journal of Advanced and applied sciences, 5(2), pp.127-135.

Rutberg, S. and Bouikidis, C.D., 2018. Focusing on the fundamentals: A simplistic differentiation between qualitative and quantitative research. Nephrology Nursing Journal, 45(2), pp.209-213.

Solimun, S. and Fernandes, A.A.R., 2018. The mediation effect of customer satisfaction in the relationship between service quality, service orientation, and marketing mix strategy to customer loyalty. Journal of Management Development.

Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the balance right. In Social Marketing (pp. 29-43). London: Psychology Press.

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