C6 Marketing Management Essay Example | Topics and Well Written Essays - 3000 words

C6 Marketing Management - Essay Example ASW’s course of action is formulated and analyzed as per the market situation. In the Marketing Strategy section, the target market is discussed and recommendations of introducing an exclusive web portal for the customers on which they can place orders from their homes and pick it up as per their convenience. For this, ASW will need a strong technological backing in order to execute this plan. Alongside this, ASW must open more stores in the format of High Street supermarkets because the company experienced lagging sales in the winter because of the snow where people could not access the stores. The report also gauges the campaign’s financial feasibility with a tentative budget. All in all, the campaign would prove to be a success because of its appealing idea of convenience to the customers for which they are even willing to pay a little extra. TABLE OF CONTENTS TABLE OF CONTENTS 2 INTRODUCTION 3 SITUATION ANALYSIS 3 Analysis of the Industry 5 Competitor Analysis 6 Tar get Market 6 Brand Positioning for ASW 7 (Hong Kong Retail Management Association. 2010) 8 Retail Marketing Strategy 8 Product 8 Price 9 Place 10 Promotion 10 FINANCIAL PLAN 11 EXECUTING THE PLAN 12 IDENTIFYING RISKS 13 CONCLUSION 14 REFERENCES 16 INTRODUCTION ASW was officially found in 1828 and has now grown into a global giant with presence in 33 countries and more than 9000 stores worldwide. Since its establishment, ASW has grown from just a food and grocery retailer to a manufacturer as well and has added non-food merchandise into its merchandising mix. The company employs a workforce of about 98,000 people across the globe spread out in the markets of the UK, Europe and Asia (aswatson.com, 2011). ASW’s strategy is to strengthen its assortment in the category of non-food items further and bring it up to the level of its food category. It is also to illuminate its presence in global markets alongside global giants. One of the company’s strengths is its ability to c onnect with the community in which it operates. This ability has led it to growth in the international markets because ASW tailors itself according to the needs of its customers. Besides this, ASW usually uses the Joint Venture mode of entry into international markets which minimizes risks and compliments the company’s strategy of localizing according to different markets (baltictimes.com, 2004). SITUATION ANALYSIS According to the Hong Kong Retail Management Association, the regulatory body of the Hong Kong retail industry states that there are approximately 60,000 retail businesses in all in the industry, including food, non-food, round-the-corner store, multi-channel, small and large retailers. The retail industry records a turnover of HKD 300.03 billion hence contributing 87% to the total GDP. (Business Monitor International, 2010) This organized retail industry consists of a few major players with ASW being the leader. It faces competition from giants such namely Harvey Nichols, Lane Crawford, Sogo, Seibu, AEON, UNY, Wing On etc (Chine-HongKong-travelguide.com, 2010). After the global financial turmoil, the Hong Kong economy is slowly on its way to recovery. As far as the retail environment is concerned, despite the economic slowdown in the year 2007, the industry has shown growth and the industry has registered increases in sales in the year 2010 (Business Monitor International, 2010). Besides that, the industry is expected to experience