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English wine week - Assignment Example

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Marketing of English Wine Week Name: Institution: Instructor: Date: 2.4 Competitor Analysis With the globalization of the economy, the liberalization of the economy allows entry and exit and therefore opening the room for more firms to join the market and increase the competition in the fine industry (Blythe, & Zimmerman, 2005)…
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English wine week
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Download file to see previous pages The first step in competitor analysis involves price differentiation. Under price differentiation, EWP must have a strong understanding and knowledge on the prices and pricing strategies of the competitors. It is after this that EWP will employ alternative pricing strategies that would enable it to gain market dominance. It is also important for EWP to understand the marketing strategies of the competitors and their effectiveness. Finally, EWP must have a deeper knowledge on the production technics employed by their competitors. 3.0 Objectives The primary objective of English Wine Producers (EWP) is to dominate the wines market of the United Kingdom by winning the confidence and royalty of the potential customer and wine consumers. Market dominance being the primary goal of all institutions, to excel and dominate the wines industry of UK, EWP must be ready to battle it out with other well established wine manufacturers. This primary objective would only be realized through product promotion and popularizing its products in the media, vineyards promotion, tourism sector wine popularity, and among the members of the wine trade or national consumer (Gelder, & Woodcock, 2003). Other English wine promotional includes trade media and trade bureaus. Other objects of the company include remaining profitable in the industry since it is a profit making entity. 3.1 Direct Marketing Objectives Business is all about marketing and customers. The basic function of the marketing department of the organization is to ensure that EWP reach out to all the potential customers. The effectiveness of direct marketing strategy is to increase the sales promotion of the English wines. The company promotes its products indirectly through promotional companies such as United Kingdom Vineyards Association and Welsh Wines (McLoughlin, & Aaker, 2010). The EWP also conducts national promotion for its products during special events such as English Wine Weeks, sporting activities, Queens Diamond Jubilee, The Royal Wedding and other major events both within the UK and abroad. 3.2 Acquisition Objectives The main objective of EWP undertaking acquisition increase market penetration and development through sound sales and financial policies. This entails investing resources on the company’s potential areas of growth and economic development. Besides, a company interested in acquisition and takeover must be ready to invest in leadership and management so as to achieve stability and economic growth (Sherman, & Hart, 2006). EWP objectives of the proposed acquisition are to mobilize resources to invest in growth potentials and opportunities. This company will benefit from a great deal through increased sales, revenue allocation and management, and improved man power in the leadership and management skills.by forming a partnership with Vineyard, EWP stands an opportunity of expanding its marketing skills and exploring new ventures. 3.3 Retention Objectives It is important for EWP to be consistent in its strategies and policies. This principle calls for retention as a fundamental strategy when handling its labour force and human capacity. Retention policy entails appreciating, developing, valuing, and trusting in the labour force or production techniques (Mauk, & Army War College, 2012). This is essential in maintaining good relationship with the staff, and also providing an ...Download file to see next pagesRead More
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