2) Roles and responsibilitites
I had selected the company Iceland for the following task. Iceland a supermarket having many chains in UK has been formed in the year 1970. Iceland is being considered as a busy organization across UK and Ireland. It is known as a food supermarket which mainly deals with the Refrigerated food, meat, dairy products etc. Iceland has other 682 branches all over UK and Ireland-Jan2009.
Alternative strategy would be the one which I will be implementing it in my company as it has been seen that it is effective also it provides us with the clear scenario of our competitors, their weakness as well as strength, their marketing techniques, how do they perform during competition times the type of strategy they take in the present market conditions. After we gather all the data regarding the trend and the opponent we would be able to come up with a accurate step in order to create a marketing strategies. To conduct this strategy you need to understand these essentials. •Classifying nature of competitor – To make a strategy they need to have a clear idea regarding the market he is targeting his opponents. Iceland being a retail company there are many opponents such as Asda, M&S, tesco etc. giving a strong competition with regards to price, their market shares etc. these are direct opponents and off licence shops are indirect opponents.
Objective of competitor and their nature – To be in the current competitive market on has to be familiar with his opponent. If Iceland introduces an offer that buy for 40 pounds and get 5 pounds free than our opponent might introduce an offer where they will say buy for 30 pounds and get 8 pounds discount which means they don’t want Iceland to grow. •Type of strategy used and how effective they are - All the organization uses their marketing strategy which helps them to be successful and later after analysing the strategy they have to make out whether it will profiting for the current company as the success of the company is not on the same strategy but it differs from companies to company demands. •Weakness as well as strength of the competitor: - Retail industry in London has very competitions where every company wants to earn profit on the weakness of other retail industry. Iceland purely sells food products whereas Tesco also sells nonfood items. •Their move when face competitive move -Company have to stay updated regarding opponentsas if any step they are taking than what will be the reaction of the other opponents and how will they be competing it on this change.
Following are the characteristic opinion that can be approved in order to get benefit like:- Market targeted
Mass market with low
Constricted markets join with cheap price
Contracted market and innovation
Theories depend on the organization to organization as every company has different needs and requirements and every organization has a different way of working. Hence keeping in mind Iceland way of working there many theories that can be taken into consideration such as Marketing Mix, Porter’s Five Theory, Pestle Analysis, Kaizan theory etc. Hence keeping all the data and the current facts and figures in mind and gathering all the information following mentioned are the theories that will underlie strategic planning. There are 5 steps where strategic planning might include :- Deciding the company’s motto with regards to what they want and gain in the cming 5 to 10 yrs. Once have got the solution :-
•Analysing the placein the market
•Expansionwith regards to strategy as well as introduction •Assessment
Porters 5 Analysis: -The porter’s 5 analysis is very easy and important force for identifying the company’s current status in the market what are the strength and the weakness of the...