Marketing, Sales And Negotiation Skills Assignment Sample

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Marketing, Sales And Negotiation Skills Assignment

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1. Introduction

Marketing roles and strategies are very important approaches that help increase the company's popularity as well as product sales. Holland & Barrett, this company is one of the most popular food companies in the United Kingdom and one of its objectives is to attract customers and make a profit. The management team of this company is able to easily develop a stable strategy for all market situations by following the marketing mix, which is one of the keys to the success of the company. At the same time, closing the communication gap between the company and the customer is a very important goal for Holland and Barrett, and with all these approaches, Holland and Barrett's stakeholders can easily improve their performance. This study will discuss SWOT and PESTEL analysis to find out the effectiveness of marketing roles. This study will also discuss in detail how to improve the marketing strategy by discussing the marketing mix strategy.

2. PESTEL and SWOT analysis for Holland and Barrett to identify the effectiveness of roles of marketing

i. PESTEL analysis

 

Factor

Impact

Political

  • As opined by Rangaswamy et al., (2020), marketing approach reduces the distance between the company and the customer.
  • Stakeholders are not affected by any political complications

Economic

  • Helps make decisions based on market demand and economic conditions (De Luca et al., 2020).
  • Help to maintain customer demand and economic status through marketing analysis

Social

  • Helps in controlling social issues using Proper Marketing Strategy (Rosnizam et al., 2020).
  • Helps brings all the details of the product to the customer with the help of advertisements

Technological

  • Able to easily reach customers through offline as well as online advertising (PAUZI, 2017).
  • Helps to increase popularity of this company.

Environmental

  • Highlights how much it cares about natural resources through advertisements.
  • Helps to grow and so does the company's brand value.

Legal

  • Companies do not compare themselves with other companies' services or products in terms of marketing approach (Ibrahim et al., 2017).
  • Has been able to maintain its sustainability in the market.

Holland and Barrett's marketing team has been able to easily increase its popularity through its marketing strategy, and the marketing approach of this company has been very well received by the people. As opined by Rangaswamy et al., (2020), marketing approach reduces the distance between the company and the customer. This is why Holland and Barrett's stakeholders are not affected by any political complications because they have customer support.

One of the most important aspects of a marketing approach is to make decisions based on market demand and economic conditions (De Luca et al., 2020). Holland and Barrett's marketing team monitors customer demand and economic status through marketing analysis, and accordingly pricing the product as well as developing an effective marketing strategy.

In the case of Social Factor, Holland and Barrett's management team is controlling social issues using Proper Marketing Strategy (Rosnizam et al., 2020). For example, Holland and Barrett's management team brings all the details of the product to the customer with the help of advertisements in the marketing approach. This helps the company's management team a lot in attracting customers.

The technological factor is making it much easier for Holland and Barrett to follow up with marketing efforts. The company's marketing team is now able to easily reach customers through offline as well as online advertising (PAUZI, 2017). In the case of digital advertising, the company is using social media and various websites, which helps to increase popularity of this company.

In addition to following marketing strategies or approaches, multiple legal factors are also being followed. For example, companies do not compare themselves with other companies' services or products in terms of marketing approach (Ibrahim et al., 2017). With these approaches, the company has been able to maintain its sustainability in the market.

In addition to doing commercial work, the company also highlights how much it cares about natural resources through advertisements. For that reason, the company's customer base continues to grow and so does the company's brand value.

ii. SWOT analysis

Strengths

? As the market value of the company (Holland and Barrett) is very high

? The company is presenting the proper details of their products to the customers

Weaknesses

? The company is spending less on the most important aspects of the marketing approach

? The company is lagging behind in the competitive market due to lack of popularity

Opportunities

? Developed a strategy by following every activity

? The company has been able to keep its position stable in the competitive market

Threats

? There may be a communication gap

? The marketing team of the company may make wrong decisions in the future.

As the market value of the company (Holland and Barrett) is very high, the company does not have to spend too much on marketing approach or advertisement. By following the marketing role, the company is presenting the proper details of their products to the customers, which is increasing the company's profit margin (Sztangret and Reformat, 2019).

The company is spending less on the most important aspects of the marketing approach, such as advertising. Although the company's popularity has increased in the United Kingdom, it has not been able to do so in the international market. The company is lagging behind in the competitive market due to lack of popularity in the international market.

The company’s marketing team has developed a strategy by following every activity in the market to be much more advanced (Tirawatnapong and Fernando, 2018). As a result, the company has been able to keep its position stable in the competitive market, and as a result, the company can easily deal with the market and all other risk factors.

As the company is not spending too much on advertisements, there may be a communication gap between the company and the customer. Moreover, as the market demand is constantly changing in the competitive market, the marketing team of the company may make wrong decisions in the future.

3. Discussion and analysis of marketing mix

Marketing Tactical Tools

Current Strategy (based on each P) applied by your chosen organisation

Evaluation/argument on the effectiveness of each marketing tool

Product

  • The company presents its product details and their effectiveness to the customer (Peeroo, 2019).
  • The company attracts customers to buy the product

Price

  • The marketing team of the company conducts market demand analysis as well as financial status (Nguyen et al., 2017).
  • The company's stakeholders also place great importance on customer feedback

Promotion

  • Holland and Barrett's management team and marketing team enlist the help of offline and online
  • The company is able to easily present its products and services to the customers

Place

  • The company to know which product can earn more profit by launching it somewhere.
  • The management team of the company also values the interests of the customer

People

  • The demand of the customer is given more importance (Yamoah, 2019).
  • The company's management team communicates with a variety of customers on social media platforms

Process

  • Marketing approaches help a lot in supply chain strategy and product manufacturing processes
  • The company is able to strike a balance between market demand, financial management and organizational activity

Physical evidence

The company is making its physical presence known to customers through its website and retail services

  • The company is also making its presence known with the help of various advertisements in the field of physical evidence

In terms of marketing role and appraisals, the company presents its product details and their effectiveness to the customer (Peeroo, 2019). Moreover, Holland and Barrett's management informs the customer about the product details through marketing approach in case of launching a new product. It is through these approaches that the company attracts customers to buy the product, and this is helping to increase the company's brand value, profit margins and popularity.

Marketing approaches to product promotion are a great help to Holland and Barrett's management team. For example, Holland and Barrett's management team and marketing team enlist the help of offline and online advertisements for product promotion. Online Advertising takes the help of the company's various online websites and social media. With all these online approaches, the company is able to easily present its products and services to the customers, and this is one of the reasons for the success of this company.

In order to determine the price of the product, the marketing team of the company conducts market demand analysis as well as financial status (Nguyen et al., 2017). In this financial analysis, the company's stakeholders also place great importance on customer feedback, and plan to develop pricing strategy according to customer demand. To do all this, the company's management and marketing team are able to handle the market and the position properly.

The marketing approach also helps the company to know which product can earn more profit by launching it somewhere. In addition, the marketing role is very important in knowing where Holland and Barrett's management team will open a food store and provide services to the customer. In addition to looking after the interests of the company, the management team of the company also values the interests of the customer, and this strengthens the relationship between the company and the customer.

In the case of marketing approaches, the demand of the customer is given more importance because following the demand of the customer, strategy development is very convenient (Yamoah, 2019). In this case, the company's management team communicates with a variety of customers on social media platforms, and it also helps to satisfy the customer a lot. As a result, the company has easily stabilized its position in the competitive market; as a result, there is a lot of advantage in the competitive market.

Marketing approaches help a lot in supply chain strategy and product manufacturing processes, and all of these things try to make the organizational process even stronger. The United Kingdom-based food company also uses a marketing approach to collect food materials and supply final products. With these approaches, the company is able to strike a balance between market demand, financial management and organizational activity. This is why the company is able to easily maintain its position in the competitive market.

In this case, the company is making its physical presence known to customers through its website and retail services, and it is this that is increasing the customer's loyalty to the company's management team. The company is also making its presence known with the help of various advertisements in the field of physical evidence to enlist the help of investors. With these approaches, the company can easily increase its profit margins, brand value and profit margins (Refers to Appendix 1).

Marketing Tactical Tools

Recommendations to each P

Product

In case of product improvement, the company needs to improve the material that will be used for food.

Price

In this case the company should understand the financial condition of the customer and develop an appropriate strategy.

Promotion

In this case, the company should give more importance to offline as well as online advertising.

Place

There is a need to develop retail services in multiple locations to provide customer service

People

Collecting customer feedback and solving problems will be of great help in attracting customers.

Process

In order to improve the operational process, the management team of the company should give more importance to the employee training.

Physical evidence

In this case, there is a need to focus on online advertising as well as retail store development.

4. Discussing on sales and negotiation skill of Holland & Barrett

By reviewing some of the activities of the management and marketing team of this food company, I have been able to identify a number of negotiation skills, such as

Effective communication skill

The company's management team has been able to maintain effective relationships with stakeholders through effective communication skills, at the same time, this communication skill is strengthening the relationship between the company and the customer (Caliskan et al., 2020).

Expectation management

In this case, the company is trying to improve the performance of its management team, so that it is possible to develop stable decisions by analyzing every movement of the market. This is helping the company's internal operations system to be much more strong. Moreover, I think the company's position is becoming more stable because of this management skill.

Patience

According to information from multiple sources, I know that it is important to be patient in a competitive market because it stabilizes the market position of the company as well as makes the organizational structure much more flexible (Rangaswamy et al., 2020). This is why the management team of this company is able to maintain a much more stable decision through patience.

Adaptability

In the case of competitive markets, market demand changes frequently, and the companies that can develop the product according to this movement of the market make more profit from the market. While discussing this company, I also came to realize that the company is adapting itself to market conditions, and this is one of the reasons for the success of the company.

 

 

Planning

When it comes to developing planning, I think that market analytics develops strategy. Moreover in this case much more stable decisions can be taken by looking at the demand of the customer, the activity of other companies. This food company can also develop a much more stable and effective strategy by maintaining all these marketing approaches.

5. Conclusion and recommendation

Recommendations

  • After discussing this study, it can be recommended that this company should give more importance to advertisement strategy by maintaining a marketing approach.
  • With more emphasis on advertisement, the company can easily present the details of its products to the customer. Moreover, through all these marketing analyze, the company needs to understand all the movements of the market. This is because the management and marketing team of the company can make a stable decision by understanding the actual situation of the market (Peeroo, 2019).
  • The company should also pay more attention to collecting customer feedback, so that the customer can be satisfied by delivering the food as per the customer likes (Rangaswamy et al., 2020).

After discussing the above entire study, it can be concluded that this food company (Holland & Barrett) is easily increasing its brand value and popularity with the help of marketing roles or approaches. With these approaches, the company is currently focusing on offline advertising as well as online advertising. This has greatly reduced the communication gap between the company and the customer by following marketing mix strategy properly. At the same time, with all these approaches, the company is delivering products with the help of customer feedback, which is helping a lot to satisfy the customer.

Reference list

Caliskan, A., Özen, Y.D.Ö. and Ozturkoglu, Y., 2020. Digital transformation of traditional marketing business model in new industry era. Journal of Enterprise Information Management.

De Luca, L.M., Herhausen, D., Troilo, G. and Rossi, A., 2020. How and when do big data investments pay off? The role of marketing affordances and service innovation. Journal of the Academy of Marketing Science, pp.1-21.

Ibrahim, A.A., Alkhawlani, M.A.A. and Al-shaghdari, F.M., 2017. Customers Desires on Marketing Mix and It’s Impacts on Holland & Barrett (Malaysia). International Sciences of Management Journal1(1).

Nguyen, L.T.T., Jamal, A., O’Brien, J. and Nawaz, I.Y., 2017. The effect of click & collect service in the context of retail atmospherics on consumer buying behaviour in terms of repurchase intention: an empirical study of Holland & Barrett UK. In 4th International Conference on Innovation in Economics and Business (Vol. 87, pp. 43-51).

PAUZI, S.F.F.B., 2017. FACTORS INFLUENCING CONSUMERS’INTENTION TOWARDS ONLINE GROCERY SHOPPING FOR HOLLAND & BARRETT MALAYSIA (Doctoral dissertation, Universiti Teknologi Malaysia).

Peeroo, S., 2019. Customer-initiated conversations on Facebook pages of Holland & Barrett and Walmart. In Information Systems Design and Intelligent Applications (pp. 43-51). Springer, Singapore.

Rangaswamy, A., Moch, N., Felten, C., van Bruggen, G., Wieringa, J.E. and Wirtz, J., 2020. The role of marketing in digital business platforms. Journal of Interactive Marketing51, pp.72-90.

Rosnizam, M.R.A.B., Kee, D.M.H., Akhir, M.E.H.B.M., Shahqira, M., Yusoff, M.A.H.B.M., Budiman, R.S. and Alajmi, A.M., 2020. Market Opportunities and Challenges: A Case Study of Holland & Barrett. Journal of the Community Development in Asia (JCDA)3(2), pp.18-27.

Sztangret, I. and Reformat, B., 2019. MODEL OF GARBOLOGY MARKETING CONCEPT ON THE EXAMPLE OF TRADE SECTOR. PROCEEDINGS BOOK24, p.98.

Tirawatnapong, R. and Fernando, M., 2018. Factors Influencing Bangkok People Purchase Intention towards Holland & Barrett Lotus House Brand Products. International Research E-Journal on Business and Economics4(2), pp.15-29.

Yamoah, F.A., 2019. Fairtrade UK in Retrospect: From the Niche Genesis to the Revelatory Mainstreaming Marketing Strategy Era (Late 1950s-Late 2000s). International Review of Management and Marketing9(4), p.110.

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