Case Study: Marketing Table of Contents Answer 1 3 Answer 2 4 Answer 3 6 Answer 4 6 Answer 5 8 Reference List 10 Answer 1 Dixons Retail PLC is one of most renowned expert electrical retailer from UK. The company has a customer base of over 100 million customers in the country…
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This would reveal the extent to which the company followed the formal process of marketing planning. Dixons was a product oriented company when it stated its journey in electrical retail segment. Their followed the strategy “stack-em high – sell-em cheap in brightly coloured stores.” This strategy validated the fact that Dixons focused more towards selling good product in well-designed stores, but customer satisfaction was overlooked and it did not occupy centre position in the strategic approach of the company. A general formal marketing planning process is segregated into four parts that is goal setting, analysing present situations, create marketing strategies and allocate the marketing monitoring system and resources. In the goal setting segment companies set their mission and objectives. Dixons also established its mission to stock products and sell them in brightly coloured stores. Their objective was to offer variety of products and generate lucrative returns. However, the company missed customer service, which its competitors took advantage of. So it can be said that Dixons followed the first step of marketing planning process. The second step is to analyse current situation. The company came to know about its drawbacks during the economic crisis in 2006. It identified that there were major threats of recession in the global market and its competitors Best Buy started grabbing market share by providing better services to customers. At this juncture, Dixons revolutionised its move towards customers. This proves that the company followed the second step of marketing planning process too. The third step is to create marketing strategies, which Dixons rolled out in order to face the intense competition. It can be also called a transformation strategy of the company because it changed the focus of the company from being product oriented to customer oriented. The new business model also re-defined five specific objectives for the company. The fourth and final stage was to allocate resources and monitor the plan. The major focus was now on after-sales and support and customer choice, value and service was the major function in the new business model. This discussion proves how Dixons followed and applied marketing planning process for devising the strategies (Jobber and Ellis-Chadwick, 2012). Answer 2 Business functions are those operations that are performed in a routine manner to achieve the business objectives of the organisation. In retail chains like Dixons, there are various business functions that they perform such as selling, which include sales, marketing, distribution or logistics, research and development. In supporting functions, activities like purchasing, human resource management, etc are performed. However, these are the internal functions, while the external business function in relation to these functions are advertising, market research, recruitment among others. In this part of the report will throw light on the business functions that supported the marketing plan of Dixons to become a success (Jobber and Ellis-Chadwick, 2012). Before the transformation strategy came into existence, Dixons specifically focused on distribution, supply, purchase and sales. However, after implementing the transformation strategy marketing strategies were enhanced and objectives were altered to develop competitive advantage. According to the new business
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This report aims at identifying various strategic and marketing elements of the company and to discuss the company’s current position. The report will firstly include a discussion of the environmental factors impacting the company’s marketing attempts, followed by a discussion of the market segmentation and use of the STP principles within Burberry.
He was the youngest president in the history of America when he assumed power in 1961 at the age of 43. So far in the history of America, he is the only Catholic president and the only president who won Pulitzer Prize. Before becoming the president of America, he held various positions in American military, senate, US House of Representatives etc.
Porter’s Five Forces Analysis on F.X Pounds: Porter’s five forces analysis is used to analyze the competitiveness in the industry for further identification of opportunities and threats. The consumer energy sector has a never decreasing demand. The Porter’s five forces analysis is as follows: (Hill & Jones.2010) Risk of entry of potential competitors: In the area in which FXP operates, most businesses are family owned and run since generations and a new competitor might find it difficult to capture a market where customers are associated to suppliers since long.
The company has opened high street stores in the UK. It has increased its market share by expanding its operations through acquisitions such as the PC World acquisition. Dixons Retail Plc has also opened tax free travel stores in airports called Dixons Travel (Jobber & Ellis-Chadwick, 2012, p, 66).
The retail chain started out as a photography business and slowly it grew into a high street store, selling not only photographic equipments but also other electrical appliance. In this part of the report the discussion would focus on analysing the marketing strategies of Dixons in comparison to formal marketing planning process.
Just stated, it just means conducting or doing commerce over the internet. There are more than a few distinct benefits to doing trade over the internet. These benefits comprise the aptitude to reach a better number of people and entities that are involved in doing trade with you, to generate cost-savings and operational efficiencies, civilizing marketing and promotional activities, as well as many extra benefits.
to maximize gains from the project by reducing unnecessary costs and by ensuring proper utilization of the resources which results to economies of scale. The pricing approach chosen by the marketers will influencing the position of the project in terms of profitability, market
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With approximately 7.9 million tickets up for sale,
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