Cornflower Blue Marketing Strategy - Assignment Example

?Marketing 2: Cornflower Blue Number Cornflower Blue Marketing Strategy Introduction Marketing per se can be termed as the way towards the recognition and contentment of consumer needs in a way to realise the company’s objectives and profitability, survival, and eventual growth of the business (Ferell and Hartline, 2012). With respect to inclusion and development of a marketing strategy for Cornflower Blue, there are a various stages that are crucial for the marketing exercise to be a success. According to Fifield (2007), the assessment of the in-house and peripheral state of the Cornflower Blue chain is highly critical. Cornflower Blue is a small chain specializing in sale of herbal remedies, herb based body care and aromatherapy products. They also deal in culinary products like chutneys, honey and teas. With an outlet chain currently totaling five retail outlets, it stated as a family shop in the 60s, in Oxford. For effective marketing and realisation of higher sales, Cornflower Blue has to initiate a strategic marketing plan that aims at maximizing the sale by targeting all potential customers. According to Lamb and Hair (2012), marketing is highly crucial towards the boosting of sale with the proper market target and utilization of strategic marketing steps. Shaw (2011) argues that any business venture that aims at promoting the sale has cost affiliation, with respect to this; Cornflower Blue will incur marketing costs, which will reflect in the realisation of increased profits. Discussion The discussion part will deal with the strategic plan of Cornflower Blue with respect to macro and micro factors affecting the marketing strategy. Further, segmentation and target strategy will be looked analyzed. Finally, the buyers’ behavior towards affecting the marketing process, as well as the reposition of Cornflower Blue products will be discussed. 1. Macro and micro environmental factors affecting marketing at “Cornflower Blue”. The macro and micro environmental factors affecting marketing at Cornflower Blue include technological, financial, customers, competitors and supplies. All these constitute departments within Cornflower Blue that are highly crucial in the marketing of the products. With increased demand for herbal products in the current world, competition has been on the rise. Marketing strategy of utilizing technology and advertisement will go a long way in making Cornflower Blue products be known in the entire region (Mennem, 2007). This is through the utilization of e-marketing and advertisement strategies. Every business in the 21st century is exceptionary keen in the choosing a target audience for its product. The embracing of marketing is an aspect of organizational function that will enhance communication, creation and delivery of value to the potential and existing customers (Hulsmann and Feffermann, 2011). This will also help in the management of customer relationships in a manner that will benefit Cornflower and its owners. Marketing is very critical in the sense that it influences the demands for wants of the target clientele through communication of what the organization has to offer the potential and existing customers (Burrow and Bosiljevac, 2012). 2. Market segmenting for two, different “Cornflower Blue’ products and product ranges. Through the utilization of positive perception people has on natural products, it would be imperative to tap on this strong point and develop a new market base from other regions rather than concentrating in Southern England. The information obtained from the customers will help in operation by enhancing what the customer wants from Cornflower Blue (Mennem, 2007). This will be in the target strategic move of coming up with a classic image of their outlets. The market segmentation would be crucial with body care and aromatherapy products being marketed and grouped together alongside the culinary products. This would see the effective and efficient creation and delivery of value of products to the potential, as well as already existing customers (Lamb and Hair, 2012). 3. Consideration in deciding the targeting strategy relating to one of “Cornflower Blue’’ products with a suggestion of an effective strategy for the product. Cornflower Blue through its strategic measure will utilize its market share and realise its business target. The achievement will be through observation of the target audience, as well as positioning strategy put in place for the marketing strategy. The B2B together with the modeling companies ought to partner and market its body care products, as well as utilizing broadcasting stations to showcase the effective result of the product via use of news presenters. The utilization of B2B strategy will make Cornflower cease from being a local retailer to an international supplier of the range products as grouped prior. This will be heightened by the inclusion of e-marketing strategy for customer base expansion and market enhancement (Shaw, 2011). 4. Two separate examples of how an understanding of buyer behavior affects marketing activities. Cornflower Blue will enhance its products quality and make the prices affordable in respect to rival products. Further, with respect to place and promotion; will entail how well the marketing will be conducted to reach vast, potent customer base. Further, the promotion strategy will determine the magnitude and scope of product awareness among the customers (Fifield, 2007). With the utilization, of the figure below; 5. The repositioning of one of the Cornflower Blue’s product. Product differentiation is critical at Cornflower; this will enhance the organizational benefits that are better than those offered by the competitors. With the aromatherapy products, Cornflower will target the already unutilized market by enhancing e-marketing. The emergent and improvement of many industries to incorporate herbal supplements incorporates the idea of enhancing strategic measures to counter competition among players in the marketing of products sold by their rival companies. This will lead to the Cornflower Blue reinvigorating and recalibrating its products to off the ensuing competition. Conclusion and Recommendations Cornflower Blue has been making its sales effectively but, with the incorporation of marketing strategy; there is prospective achievement that will see more sales and growth of its outlet chains. Marketing has progressively been changing with technology, and the embracing of ICT has resulted to e-marketing that Cornflower Blue can utilize to reach the global market. It is crucial for Cornflower Blue to shift from relying on the traditional mode of the word of mouth for marketing and embrace strategic marketing approaching devised in this plan. This incorporate brand differentiation, promotion and advertisement, marketing, as well as electronic marketing. The main recommendation in this regard would be for Cornflower Blue to launch a website named cornflowerblueworderfulproducts.com to market and distribute its products online. This is inline with being at per with the growing technology and maintaining competition in the growing industry of natural products. REFRENCES Burrow, J. and Bosiljevac, J., 2012. Marketing, 3rd ed. South-Western: Cengage Learning. Ferrell, O. and Hartline, M., 2011. Marketing Strategy, 5th ed. South-Western: Cengage Learning. Fifield, P., 2007. Marketing Strategy: The Difference between Marketing and Market. 3rd ed. Butterworth Heinemann. Hulsmann, M. and Feffermann, N. (Eds.) 2011. Strategies and Communication for Innovations: An Integrative-Management View for Companies and Networks. Berlin: Springer-Verlag. Lamb, C. and Hair, J., 2012. Essential of Marketing. 7th ed. South-Western: Cengage Learning.. Mennem, M., 2007. Applied Marketing Strategy- The Rocker Hotel Sunderland. Project Report. Norderstedt: GRIN Verlag. Shaw, W., 2011. Business Ethics: A Textbook with Cases, 7th ed. Wadsworth: Cengage Learning. Simmons, M. and Laemar, R., 2009. Punk Marketing. Oxford, UK: Oxford University Press. Bibliography Ainsworth, M., Blehar, M., Waters, E, & Wall, S. 1978. Brand Marketing. New York. Baker, M. 2008, The Strategic Marketing Plan, New York: Basic Book. David, A. 2008, Marketing strategy based on market needs targets and goals. New York: New York Press Grace, D. Cohen, S. 2010. Business Ethics. Oxford, UK: Oxford University Press. Michael B. 2009 Marketing tools Hillsdale, NJ: Lawrence Erlbaum. Read More