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INTRODUCTION TO MARKETING STRATEGIES
Marketing planning is refers to a comprehensive layout that demonstrates the overall marketing efforts of the company. It could involve various methods for effective planning process. This process is very essential for promoting firm in the marketplace (Blythe and Megicks, 2010). In the following report, Britvic is taken as the company to explain the marketing planning. It is one of the leading soft drink companies in Europe that operates in Great Britain, Ireland and France. Various market audit techniques will be shown in the report along with understanding and evaluating the market barriers. A market plan has been developed with relevance to the concerning firm.
TASK 1 – COMPILING A MARKET AUDIT
1.1 Changing perspective in marketing planning
The method used by Britvic was traditional that includes the basic four P's which are Product, Price, Place and Promotion. With this policy, it has successfully became the largest still supplier and second largest carbonate drink supplier (Doole and Lowe, 2012). But in the recent context, they have to face several kind of difficulties with respect to change in the environmental conditions. The changing perspectives in the marketing planning includes:
Product development – The company possess good image while development of their soft drinks. As the data referred, Britvic has observed immense growth with their existing product development strategy. Hence they should remain consistent with the same policy (Gilligan, and Wilson, 2009).
Pricing – According to the current market conditions with financial meltdown, Britvic has to lower down their price scale of soft drinks. It is because people are observing lower level of income and spending.
Distribution – The distribution channel of Brtivic is quite large and they seem to appear into the international market of United States. Hence they could have to increase their level of distribution by increasing number of franchisees of the concerned firm (Goi, 2009).
Branding – Britvic already have positive brand image that can be proved fruitful in future conditions also. In changing market planning scenario, they may use their existing brand image to improvise their market position (What Are the Different Perspectives in Marketing Planning? 2015).
1.2 Organization's capability for planning its future marketing activity
In current context, Britvic is undergoing an extremely delightful market conditions where they have total control over commercial environment (Kotler, 2011). Analyzing the facts and figures in the recent times, the concerning company has secured the largest market portion of branded still soft drinks and second largest supplier of carbonated soft drinks. It is also seen that Britvic is an industry leader in Ireland and France. Some of the positive factors in favor of future marketing activity may involves:
- Strong brand positioning in British market that will help them in promoting their products in United States. The existing reputation supplies positive image in the mind of people residing Abroad (Logman, 2011).
- Existing product range of Britvic will help them to emerge in the global market. They are holding a large portfolio of soft drinks which local people of GB have accepted. Hence such diversified range could also be predicted as acceptable in the Foreign market.
- Facts of company for being the largest supplier of soft drinks could enable them to gain competency in future marketing activity in US. It eventually describes the strong marketing strategy of Britvic in successfully protecting the huge market share of soft drinks (Morgan, 2012).
1.3 Examining techniques for Organizational auditing
Organizational audit plays significant role in identifying the market conditions of GB while making policy to enter into the competitive commercial environment by Britvic. It includes various methods to determine the market conditions. They are:
PEST analysis – The following analysis is conducted to determine the political, economical, social and legal factors. These factors are observed by considering the external environment of the marketplace (Morgan, Vorhies and Mas