UK Supermarket Morrisons Consumer Preferences

Question: Discuss about the UK Supermarket Morrisons. focus on how Morrisons can increase their Market share in the UK and be more competitive against the like of Tesco, Asda, Sainsburys? Answer: Introduction In an international atmosphere, mounting a sturdy perceptive of business and marketing strategy is very valuable for the success of every business project (Leonidou et al 2013). The project is about to discuss and analyze the marketing strategies, key objectives and relevant areas of business improvement of WM Morrison, which is one of the biggest supermarkets in the United Kingdom. The company has started their journey as egg and butter merchant in 1899. As the day progresses, the company is now considered as UKs fourth greatest food trader with over four hundred stores. Morrison is the prime superstore, which entrusts to sell total proportion of British fresh lamb all over the year in its outlets countrywide from 2008. Almost nine million purchasers transact with Morrison stores each week. As a food whiz, the company tells apart itself from their main entrants. The supermarket has exclusive fabricating and wadding facilities, and they harvest their crops themselves. Morrison also arranges more foods, and they are employing specialist botches, fishmongers and bakers, which are keeping them ahead of their competitors. Project aim The main aim of this project is to analyze the marketing strategy of Morrison supermarket. The internal and external milieus of the company are appraised in detail. The aims are Being competitive: to supply a range of prices that are easier, more viable and based on the strengths of the company Serving customers well: recruiting new workers in busiest times of week, replacing accessible self-service explores with best-in-class technology, reorganizing wine and generate outlines Finding solution: having freedom to take local decisions, using knowledge of consumers tangs and needs to modify an offer to local areas more successfully and perfectly Initiating useful services: to add further services like cafes, dry cleaners, pharmacies and petrol stations, phone, tablets repairing, parcel collection in stores and car parking Simplification: becoming tilt, nippy and responsive; leadership team has lessened along with head offices, giving Morrison desired agility Making supermarkets strong: advancement in shopping trip for consumers, developing core supermarkets well built is central attention of Morrison. Upgrading the whole estate by a new fresh look renovation program by the end of 2018 (Ramaseshan, Ishak and Kingshott 2013) Project Justification The objective of this particular assignment is to analyze all the important factors, which will allow the organization to develop a strong and a proper marketing plan (Hollensen 2015). The study will allow the readers to conclude how Morrison the selected organization, can increase their market share in the UK in order gain more competitive advantage, as compared with Tesco, Asda, and Sainsbury. With application of different kinds of marketing tools such as SWOT Analysis, Pestel, Porter 5 forces, Ansoff matrix etc will allow the organization to achieve the desired results and goals. Project Team The objective of the project team is to develop the entire investigation procedure with real and effective example. The investigator, which is selected in order to conduct this particular investigation procedure, has loads of experience. The investigator has completed different kinds investigation in different fields. All the team members are very much active including the investigator. The objective of all the team members in the investigation process is to complete the investigation procedure on time. The investigator is well qualified and maintains a versatile experience in different fields of research (Hollensen 2015). Communication Strategy Development of a proper communication system will allow the investigator as well as the company to develop a proper channel with the organization. It is very much important to conduct a proper interview seminar with all the official members of the organization about the plan and proceedings of the organization in order to increase market share to gain a proper competitive advantage as compared with the other companies in the organization. With the help of a proper communication system such as development of different questionnaire based on the requirements of the organization and most importantly organizing a proper interview and interrogation process with the members will allow developing a proper communication channel with the organization. Project objectives According to the project aim, the objectives for the definite analysis are to be examined. This is done under a framework, which is termed as SMART objective set up. The SMART analysis for the company is depicted below to ascertain future prospects (Mullins, Walker and Boyd 2012). The objective of the study is to develop a proper marketing plan, which will improve the marketing situation of Morrison. The study will focus on the application of a proper marketing plan that will ensure in the increase in the sales and profit of the company. The primary job of Morrison is to select a particular area in the South Wale region (Morgan and Strong 2015). In order, find an accurate solution for the problem, the company needs to complete a proper investigation procedure. The Northern part of the South Wales is an ideal position in order to implement this particular marketing plans and proceedings. With application of different kinds of marketing in the organization, the management will be able to develop a proper marketing plans and actions (Hollensen 2015). Different kinds of investigation procedure will be adopted by the investigator in order develop a proper situation analysis process, to build a strong competitive advantage with the competitors. Features Objectives Specific The explicit goal of Morrison is to extend its market share and make safe their spot of headship by developing its monthly sales revenue. Measurable The company will tend to swell its recent market share by five percent. Achievable Preceding to formulate any for improving its share in the market, the company requires to estimate several market options to guarantee practicability of chosen strategy Realistic The chosen market option will be appropriate to all stakeholders. The resources and assets of Morrisons will be used to enlarge its market share up to five percent within a stipulated period. Time based The company has estimated a period to achieve their expected goals. They will try to accomplish the objectives in one year. Benefits The marketing strategy analysis has several benefits. Through the orientation, Morrison can launch new products and can make profits. Based on the analysis the company will build the growth strategy. It can be achieved by two ways, using present internal resources and by buying other businesses and assets. Organic growth makes best use of accessible resources and it is reliable with the culture and management manner (Morgan and Strong 2015). It also may lead to economies of scale with less risk. Acquisitions can overcome entrants to enter and risk factors are spread. Marketing strategy analysis provides fast access to main business resources like brands. It makes for the company easier to control their objectives and goals. Precisely, the benefits are, Activities harmonized with aimed markets Steadiness of objectives and market priorities Common terms of reference Backing in evaluating marketing success Permanence in long-term strategy planning (Morgan et al 2013) Business Case and Approach To develop and evaluate the marketing strategy of Morrison, different types of analysis are done. All the relevant analytical features and methods are described as below. Literature Review This part of the study will analyze all the factors, theories, and models, which are applicable to construct a proper research work. Application of different kinds of marketing tools such as SWOT Analysis, PESTEL Analysis, Porters Five Force, and Ansoff Matrix are the important marketing tools, which are used to develop a proper situation analysis process in order to develop a strong competitive advantage. SWOT Analysis In this technique, an overview of companys internal and external evaluation is summed up. It deals with the enterprises strength, weakness, opportunities and threat (Hollensen 2015). Elements Analysis Strength v Attainment of mutual stores v Starting of 35 new shops v Specialist in food v Personal supply and distributional channels v Excellent food structuring and Owen wadding factories v In store preparation of food v Fastest circumnavigate time among order and delivery v Recruits higher education program (MBA) Weakness v Not having enough customer trust v Lesser amount of outlets v Not paying more attention in advertising v Quite bit high costing Opportunity v Home delivery v Expansion of petite stores to entertain more consumers v Beginning of Morrison pharmacy v Transforming into non-food vending in UK v New retail sections like departmental store, specialty units, drugstores Threat v Lesser costing of entrants v Scrawny communication v Huge competition v Entry of new comers v Buying of co-operative stores are unable to maintain Morrison standard v Uncertainty PESTEL Analysis This analysis is very vital for developing a proper marketing strategy. The key points of this measure are tabulated below (He and Yang 2015). Factors Analysis Political v Antagonism commission acts v Food customary act 1999 v Planning strategy management v Administration legislations Economical v Blow of financial crisis v Effect of redundancy v Proportion of inflation v Effect of GDP and domestic non-refundable income v Rise of population v Energy and haulage cost Social v Change in standard of living v Confidence of consumers v Education Technological v Self scrutinizing v Undeviating marketing scheme v Influence of internet and social medias on customers Environmental v Concerns of carbon di-oxide discharge v Health and safety measures Legal v Privileges of workers v Lows for attainment, unifications and collective ventures Porters five factor analysis By using Porters five forces, the factors that are affecting the current position of the industry can be identified. The researcher conducts a situational review to advice Morrison in present marketing environment (Fenwick and Amine 2016). Forces Analysis Importance Scale Rivalry Morrison has a strong rivalry with other companies like ASDA, Tesco and Sainsburys. Tesco has the highest market share of 30%, then ASDA with 18% and Sainsbury with 17%. Morrison is on the fourth position with approx. 12% share of the market. Tesco and ASDA has a total of 50% share of the market and they are international company who trade worldwide. Very high 10/10 Threat of new entrants Various global companies are penetrating in UK market. ASDA is in hold of America, German giant Lidl has started new shops. Companies like Waitrose extend their business by opening more outlets to acquire market share. Medium 6/10 Bargaining power of buyers Buyers always rummage around for value. Morrison has price strategy to maintain low price and gratify customers. They provide offers like buy one get one free, half prices etc. in many products. Medium 6/10 Bargaining power of suppliers Morrison has personal manufacturing industrial units and factories, which minimizes the power of suppliers. They uphold very good relationships with their suppliers, too. Low 4/10 Substitution In recent times, chartered groceries make challenges, as it is convenient for regional purchasers. Morrisons brand products are able to substitute other brands of items. High 8/10 Ansoffs matrix analysis Factors Analysis Market penetration Morrison plans to open several new stores and employ new workers. BRDC provides food for maximum part of South West and South Wales. Product development Morrison has no online shopping system. Implementing the system and offering foods and products through internet can hoard customers time. Market development The company can expand their business globally, by spreading their chains in Asia, America and Europe. Relationships with neighboring dealers are to be build up (Fifield 2012). Diversification Morrison should put forward ample range of products for the target customers having several special needs. Research methodology Research methodology is the outline of the investigation procedure. The objective of the assignment is to locate a particular area in the selected county, to develop a proper marketing plans and operations. There are certain research methods which majority of the investigator follows in the operations of the investigation process. Research philosophy, Research designs, and Research approach are the three most important areas of the entire investigation procedure, which allows the investigator to develop a proper investigation procedure. The most important part is the mode of data collection procedure. In this particular investigation procedure of development of a proper marketing plan, the investigator has used two kinds data analysis techniques. The two kinds of data analysis techniques are the primary mode of data analysis techniques and the secondary mode of data analysis techniques. The investigator has developed the primary mode of data collection in two parts. One is the quantitative part and the other one is the qualitative part. The researcher has given more emphasis towards the development process of the primary data collection method by preparing a survey questionnaire of 10 and 5 questions in the quantitative and in the qualitative part. The investigator has gone through different kinds research articles, journals, and official websites of different organizations. However, the investigator has used positivism research philosophies, which will allow the investigator to support the entire investigation proc edure with real facts and findings. Sometimes it becomes very much difficult for the investigator to conclude the research approach. In this particular study, the investigator has decided to apply the notion of the inductive research approach. Inductive method will allow the investigator to develop and support the investigation procedure with effective and modern theories. The investigator has decided to support the research work in an in depth process. The mentioned research outline will allow the investigator to develop a proper research outline. Project Plan (Time Frame) Main activities Week 1 Week 2 Week 3 Week 4 5 Week 6 7 Week 8 Topic Literature Review Methodology Data Analysis Procedure Analysis and interpretation Analysis and Findings Conclusion submission of the paper Conclusion: Morrison is one of the giants in UK supermarket chain now. Strategy analysis reveals the exact position of the company with its strength, weakness and future areas to focus. The macro economic factors like inflation and rising competition are the main threats for Morrison. Recession has undeniable effects on ready meals market. New entrants like Levi Roots and Sodebo may hinder the market share of existing organizers. For providing the better value to their consumers, Morrison may use their strength like larger net margin than the entrants may. The level of productivity should be increased. Efficient workers can use several advanced technologies to produce more foods. Competitions of price among present rivals are extremely rigorous. Morrison should start markets of clothing and other non-food products to increase their business segments. Opening new shops in proper locations will attract more customers and it will be convenient for them. Morrison has its own units for production, manufacture, wrapping up facilities and channels of distribution. Company should enhance these benefits in reducing the lead-time and upholding freshness of the product. Maintaining ones own distribution network facilities timely deliver the food items. References Diamantopoulos, A., Schlegelmilch, B.B. and DuPreez, J.P., 2015. 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