ICI Dulux Trade Paint is Britain’s leading and recognised paint supplier with 130 out let chains, which is largest suppliers in U.K. There has been an enormous increase in the popularity of broken colour decorative paint effects in the paint world. Hence ICI Dulux Trade Paint recognised the demand for broken colour decorative paint effects and launched products like Duette, Somarta and Acryli Scumble Glaze so as to target the trade market in United Kingdom. TASK 1
“A marketing audit is a comprehensive, systematic independent and periodic examination of a company’s or business units marketing environment, objectives, strategies and activities, with a view to determine problem areas and opportunities and recommending a plan of action to improve the company’s marketing performance” (Kotler and Keller, 2009)
Based on know factors marketing audit helps management to select a position in the environment, thus helps the company to identify its strengths, weaknesses, opportunities and threats. Marketing audit play an important role in creating potential benefits such as detailed analysis of environments, objective evaluation and clear identification. (Wilson and Gilligan, 2005)
Due to constantly changing environment marketing audit is classified into external/macro or internal/micro environments. Marketing audit can be organised with the help of SWOT analysis. SWOT Analysis:
SWOT analysis is a tool which marketers apply to understand opportunities and how to address them. The SWOT analysis tells us about the company’s internal strength, its weaknesses, business opportunities and threats generated. Without SWOT analysis marketer are unable to determine these factors. (Dibb and Simkin, 2004)
The SWOT analysis makes an approach in company and environmental variables. The objective is to determine company’s strengths and its weakness as well as the business opportunities and threats in order to generate possible strategic options. Within the SWOT analysis, information of the company, competitors and other environments can be determined. SWOT analysis fits into environmental scan is shown in the figure below:
Internal analysis External Analysis Strengths Weaknesses Opportunities Threats SWOT Matrix
Strengths of Dulux Trade Paints: ICI Dulux Trade paint is having a good brand name. In fact it is the leading trade paint supplier company in entire Britain thus attaining most of the market in U.K because of the wide distribution among the builders, merchants and retailers and it has around 130 outlets in U.K which is largest of any paint supplier. As well as the products produced by ICI Dulux Trade paints come in 52 two-tone colour ways making different choices for the customers. ICI Dulux trade paints have many advantages over competitor products because the products are water based which are easy to handle, easy to dry, low odours and do not get yellow with time. Therefore ICI Dulux paints have excellent recognition and acceptance in the market.
Weaknesses of Dulux Trade Paints: High level of product awareness in the market is very important so as to decrease the uncertainty of the products. ICI Dulux Trade paints have relatively very low awareness of the product in the market resulting in the uncertainty among consumers, despite holding a strong position in the market which becomes reason for fewer sales. ICI Dulux trade paints doesnot have control over the retail market thus making Dulux Trade paints new...