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Unit 13 Marketing Strategy Assignment - Ariel
The marketing strategy is prepared aiming to provide effective set of information regarding marketing strategies which will involve information related with the importance of marketing strategies to and organisation. With the help of this marketing strategy users will be able to develop a blue print of different aspects necessary for the development of organisation and various marketing strategies required by the organisation so as to sustain and develop in the market. Information regarding marketing mix is also being provided so that organisations could make an effective use of the marketing mix and prepare themselves according to the requirements of the market in which they are dealing with. Information regarding Arial will be shared in this report. Arial is a detergent company which aims at providing quality products to the target customers. Parent company of Arial is Procter and Gamble which is one of a leading brand across the world. Arial was introduced in 1967; markets that are acquired by Arial are Europe, Latin America East, Southeast and South Asia, South Africa, and the Middle East
SWOT analysis is one of the most effective techniques that help in gathering information regarding the internal environment of the organisation. With the help of SWOT analysis company could gather information related with its strengths it have, weaknesses, opportunities in the market, and threats which could affect the internal process of the business. In this report information regarding the internal process of Arial will be gathered with the effect of which planning will be done so as to make sure that company could sustain in the market. Analysing the strengths, weaknesses, opportunities and threats helps in knowing the actual position of the company which ensures that company could prepare the strategies on the basis of the evaluated criteria.
PESTEL Analysis is the technique that will help in understanding the external environment of the organisation. Understanding all the external factors that could affect the business will help in developing the most effective marketing strategies. For a sustainability of the business preparing marketing strategies is one of the most important aspects. Such kind of strategies helps the business to attain competitive advantage and in the growth. PESTEL Analysis involves analysis of political factors, economic factors, social factors technological factors, environmental macro factors and legal factors (Hirvensalo, 2014).
Political Factors: Companies having an effective brand value prefer to do business in different markets. Different markets have different political policies according to which Arial will have to prepare the strategies accordingly. These policies of different markets could affect the business of Areal in international market. To manage the business in different markets Arial will have to ensure that it should prepare the strategies which are related with the political strategies of different places. Doing so will help Arial to sustain in the competitive market.
Economic Factors: Economic factors have a great impact on the products and services provided by the companies available in the market (Radulescu, 2012). Indulging in the international market is a tough job for a business as there are many aspects that cab affect the business processing. Different countries have different economic conditions. Any downfall in the economy of the country could affect the sale of the business. Arial will have to ensure that it should prepare effective set of strategies in relation with the economies of different country so that it could sustain in the international market.
Social Factors: ociety plays a very vital role for every organisation. Fulfilling needs and wants of the society is one of the most important aspects attached with the organisation. It is necessary for Areal to ensure that any kind of business practice should not affect the society. Areal should help the society to grow and should provide proper set of infrastructure which will help in the development of the society (OANA, et. al., 2014).
Technological Factors: Technology is an unpredictable factor in present scenario. Technology is one of the factors which have a great impact on the business process. Any change in the technology leads organisation to bring several changes in its internal process. These changes affect the working of the people present in the organisation. Any change in the organisations requires huge investment with the effect of which capital of the business gets affected. It is necessary that Arial should prepare effective strategies in relation with technology so as to ensure the smooth functioning of the business.
Environmental Factors: Environmental sustainability is a biggest responsibility of the businesses in present scenario. It is necessary that Arial should produce eco-friendly products (Gupta, et. al., 2016). People in present scenario are more conscious about environmental sustainability. It is necessary that Arial should provide the products which should not harm the environment and should contribute its some part in environmental sustainability process.
Legal Factors: There are certain legal and regulatory frameworks which could affect the business process. Areal should ensure that it should work on the path to fulfil all the requirements of regulatory frameworks (Kolios, et. al., 2013). Any violation of these legal aspects could affect the image as well as revenue of the business. Making the policies related with legal and regulatory frameworks will help Areal in reducing the risk of violation of these frameworks.
Therefore, with the help of analysis of internal as well as external environment of Arial it could be said that Arial will have to develop effective set of strategies which will help it in sustaining in the market. Developing effective set of marketing strategies will help the organisation to sustain and attain competitive advantage in the market.
Competitive Advantage:Arial is the brand which is available in the market from many decades. It is a company which is known by many people present in the market. Parent company of Arial is Procter & Gamble which is a well known brand in the market. Arial is known for its quality as it guarantees as a best stain remover in the market of detergent (OANA, et. al., 2014). USP of Arial is removing the dirtiest and difficult stains from the clothes. This USP of Arial helps it in making more sales planning and attaining competitive advantage in the market.
Current Marketing Strategies: Companies should plan and focus on different marketing strategies is these strategies help the sustaining of the organisation. Evaluating current marketing strategies of Arial will help in removing the weaknesses and will help in fighting with the competitors present in the market. Marketing strategies ensures that the organisation could attract more people towards it product and could increase its sales. Increase in the sale will lead to increase in the revenue and will help in attaining competitive advantage in the market. There are several marketing strategies which could help the organisation to sustain in the market (Radulescu, 2012). These marketing strategies are:
Understand the Market and People Present in the Market: Understanding the market is one of the most important aspects attached with every organisation. Arial should focus more upon the market in which it is dealing and the nature of market. With the help of different surveys it would be able to gather appropriate information regarding the market and the people present in the market. This is the aspect which ensures in developing the strategies or bringing modifications in the products of the company. Modifying the product according to the requirements of the market and people available in the market will help in attracting more people towards the organisation with the effect of which it would be able to make more sale of the product and could generate more revenue from the market in which it is dealing with (Harrell, 2013).
Get Employees Involved: Involving the employees in decision making aspects will help Arial in bringing innovative ideas into existence. Employees working in the organisation have better knowledge regarding the product and requirements of the people present in the market. These kind of activity helps in building effective relation between organisation and employees. Arial should ensure that its employees should get involved in the decision making process so that they could help the organisation in developing the product according to the market requirements and could produce more so as to manage the demands and supplies of the target market.
Advertising: Presently Arial is using effective advertisings so as to do the marketing of its products in the market. Arial believes that advertising its product to the target market will help in attracting more people towards its product (Albright, 2015). It believes that with the help of effective advertisement it could attract the interest of the people towards its product which will increase its ale in the market and will help in fighting with the competitors.
Product Development: Product development is another strategy that is being used by Arial as a marketing strategy in present scenario. Arial keep on bringing innovative products in the market so as to attract people towards its product. Developing the product is an effective strategy which helps in the growth of organisation but it is also necessary for the organisation to focus upon various other aspects like market development or market penetration (Hirvensalo, 2014). Arial solely have the interest in developing the product and do not focus on various other aspects. So to ensure that it should attain success in the market Arial will also have to focus upon various other strategies.
Therefore, it could be said that Arial have very limited marketing strategies in present situation which are not fulfilling the requirement of market. At this stage at which Arial is at present scenario it will have to develop more effective marketing strategies so that it could fulfil the requirements of people present in the market and could move on the path of success and sustainability. Working on different strategies and preparing marketing plans helps in organisational growth. Arial should try to bring marketing strategies which are required by the market, with the effect of which people present in the market could get influenced to purchase the products of Arial (Kolios, et. al., 2013). Developing competitive strategies will also help the organisation to sustain in the market.
Segmentation, Targeting and Positioning (STP)
STP is a combination of three different marketing strategies which helps the organisation to grow and helps it in sustaining in the market. Segmentation, targeting and positioning are the three aspects which helps the organisations to develop the business process and to avail the products and services according to the requirements of the market and people available in the market.
Gaining information of each and every aspect separately will help in developing better understanding regarding these strategies:
Segmentation: Segmentation is a marketing strategy in which organisation differentiate the product according to the requirements of the people available in the market (Kolios, et. al., 2013). It is the strategy in which broad market is divided into a group perceiving the common requirements of the people present in those markets and preparing the strategy on the basis of bifurcation done by the company. There are several major bases on the base of which segmentation is done by the company. These bases are:
Geography: In this, segmentation of the people is done by the company according to the geography regions like for the people living in rural areas Arial will have to develop different strategies. People of rural areas recognise the product by its colour and its packaging so for the people living in rural areas it will have to provide unique colours and packaging so that they could recognise the product and prefer to buy the products of Arial. In the same manner people living in Urban areas attract towards the advertisement shown on internet and television and by the quality of the products. Therefore, to increase the sale of its detergent in urban areas Arial will have to make effective advertising and will have to provide quality on the products (OANA, et. al., 2014).
Demography: Arial will have to segment the market according to the demography of the people present in the market. In this segmentation of the market is done on the basis of age, gender, occupation, and socio-economic groups. In this Arial will have to make the strategies according to the age and gender of the people. Therefore, target people in the market of Arial should be the people of middle age. Focusing in the female customer will benefit Arial in increasing its sale in the target market.
Behavioural: In this market is segmented according to the behaviour of the customers available in the market. Segmentation of the market is done on the basis of rate of usage of the product, benefits sought, loyalty status, and readiness to purchase the product. To understand the behaviour of people present in the market Arial will have to take the feedbacks of the people available in the market with the help of various surveys and questionnaires.
Psychographic: Another market segmentation that could be used by Arial is psychographic. In this market is segmented on the basis of personality, lifestyle, attitudes and class of the people. Like people of upper class purchase the products which are costlier are have attractive packaging therefore for upper class people Arial will have to develop effective packaging and prices of the product (Afuah, 2013).
Therefore, understanding different aspects of market segmentation it could be evaluated that Arial should focus on the people who want quality in the product and are ready to pay high price for the quality of the products and services it is availing to the people.
Targeting: Targeting is another effective strategy that will help Arial to make appropriate decision regarding the marketing of the product. Arial will have to analyse the market in an effective manner so that effective set of information related with the market could be gathered by the company. After segmentation Arial will be able to evaluate the attractiveness of each segment on the basis of which it would be able to target the segments according to their requirement. Targeting is an important aspect attached with the marketing of the products and services of the business (Göb, 2010). Targeting will help in developing the product according to the requirements of the people present in the market. When the product will be availed to the people according to their requirements then sale of the product will automatically increase as people will be prefer to purchase that product and will build an effective set of trust with the brand and the product offered by the brand in the market. With the help of division of the segments, Arial will be able to make an effective decision with which type of product should be provided to the target segment so that sale of the product could increase and business strategy could earn effective amount of revenue from the targeted market.
Therefore, understanding all the aspects related with Arial the target group it should choose from the market segment is upper middle class and rich class of the society (Harrell, 2013). Rural areas also have an effective potential and to increase the sale in rural areas Arial will have to avail lower prices detergent and will have to increase its promotion in the rural areas so that people could get attracted towards the product and could prefer to buy the detergents of Arial from the stores or shops.
Positioning: After segmentation and targeting the appropriate segment of the market it is necessary that Arial should do positioning. For positioning Arial will have to identify positioning concept for each segments of the market, and will have to select, develop and communicate the concepts which are chosen by it. For positioning, Arial will have to use appropriate promotional strategies. Promotional strategies like marketing of the product in the target market, door to door sale, promoting the product by availing canopies, personal selling, and providing attractive offers will help in the positioning of Arial in the market. Another aspect that helps in the positioning of Arial is distribution of the products. Using effective distribution strategy will help Arial to increase its sales. With the help of effective distribution channels Arial will be able to manage the supplies and demands of the market with the effect of which it would be able to attain competitive advantage in the market (Hirvensalo, 2014).
For positioning in the market Arial will also have to focus on the product and price. Targeting the most effective segment and availing appropriate product on appropriate price will help Arial to make an effective position in the market and will help in sustaining in the target market.
Special attributes of the detergent of Arial will help in positioning like cleaning the dirtiest stains with the help of micro cleaning system will help in the positioning of Arial in the market. These type of attributes helps in the positioning of the products in the market and help in sustaining and attaining competitive advantage (Albright, 2015).
Objectives and Goals of Arial:
- On the basis of above discussion there are certain set of objectives and goals set for Arial achieving which will help Arial to sustain in the market. It is necessary that the objectives which are set for the organisation should be SMART as they should be specific, measurable, attainable, relevant, and time based. These type of objectives ensures that the organisation will sustain in the market and helps in attaining competitive position in the market.
- Arial has the aim to enhance its sale by 40% in next 3 years
- Availing the product in each segment by using market surveys. Gathering information of about 25 rural areas and 25 urban areas till the end of 2016 (Blasis, 2011).
- To increase the brand awareness by using effective marketing strategies till 2017
Marketing Strategies: To attain the objectives and goals it is necessary that Areal should use effective marketing strategies. With the help of Marketing Mix, various marketing strategies could be evaluated by Arial which will help in attaining its targeted goals and objectives. Marketing mix of include four P’s which are Product, price, place and promotion.
Product: Understanding the requirement of the product in the market and availing it accordingly will help Arial to attain its objectives. Arial will have to make sure that it should gather appropriate information regarding the use of product in target market so that it could provide the product accordingly to the target market (Bohm, 2009).
Place: Gathering the information of target market will also help in selecting the market in which product is to be availed by the organisation. Arial will have to make a wise decision regarding the selection of market so that it could avail attract more and more people towards its product with the effect of which it could succeed in the market.
Promotion:After choosing appropriate place it is necessary that effective promotion should be done by Arial so that people available in the market could recognise the product. Using appropriate promotional strategies will help in spreading effective set of awareness in the market with the effect of which more and more people will get attracted towards the products of Arial.
Price: After developing effective promotional strategies it is necessary that Arial should focus on the price of the product. Price of the product should include all the costs so that expenses incurred from the manufacturing to the sale of the product (Burrow, 2008). This will help in recovering all the expenses and will help in providing profit to the organisation with the effect of which it would be able to sustain in the target market.
These are several strategies using which will help the organisation to sustain in the market. These are certain strategies working on which will help Arial in attaining its objectives and increasing its sale in the market.
It could be concluded that preparing marketing strategies is one of the most important aspects attached with the organisations doing business in the competitive market. Areal should work on developing new and innovative strategies so as to attract people towards its products and services in the market. Organisations dealing in the competitive market should use various analyses so that they could gather effective set of information regarding the internal and external environment of the market and the business. Gathering such kind of information will help in sustainability and will help in preparing the marketing strategies which will help the organisation to attain competitive position in the market.
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