Posted on : 2023-12-01 03:23:09
Article : Good evening Friday Management TASK 270- This week it is a basket of different categories marketing aspects to show that there is no “One solution for all”
This week we want to share little different pattern of Management TASK and Solution, so we have chosen Three different products and business categories to know how marketing varies- they are a global food restaurant chain Mc Donald, Marks and Spencer a leading retail chain group and career experiences of a leading globetrotting marketing personality. Marketing is a wholesome function starting from introducing the product to the consumer through a brand name and converting the visitor as customer of the brand. Here in, good number of all associated functional verticals coordinate as a dedicated team to successfully gain the result. To an extent Marketing strategy planning depend upon product category, market need and consumer behavior.
1. McDonald is one of the major and popular global food chain restaurants. Its success is quality, store formats and service patterns including home deliveries. Apart from brand media ad spends Mc Donald also focuses on brand consumer promotions. Mc Donald’s digital advertising turned a new leaf to reach out to potential customers for a definite purchase of McDonald product to increase their sales. Indeed, it is a very innovative band promotion.
2. Marks and Spencer (M&S) is known to be a premier cloth and home and food business chain retail stores with its presence in many countries.
In Food category M&S have a good brand-based innovation and quality, now they want to boost its family appeal. In new formats they want to include slightly bigger and accessible product ranges to make them more of a weekly shop. Their joint venture with Ocado will help M&S to increase food online sales for more revenues.
In clothing they wish to improve style credential and availability by making its stores more contemporary and digital. They want to be known as Value for money business but not as a low-price business store. In nut shell they want to be known as value-at–heart retailer.
3. Career experiences of Ms. Anna Chokina a senior globetrotting Marketing personality and a former senior level Management team member from P&G, L’Oreal, Pepsi co and Avon details about how she handled brands marketing in different categories and countries.
With Avon beauty products as Global marketing vice president she was responsible for major innovations of brands from zero to launch so thought process is- concept, then the product, then the advertising which is very difficult. To do so her past P&G work experience of shopper marketing which is tactical working with the retailer has helped.
In P&G she has handled food (Pingles) which is a tiny (3%) share and specialties pet care (Eukanuba and Iams) business (15%) which looks simple but a big job to carry competing with major market share holders Nestle and Mars.
Similarly, P&G Feminine care products hold 70% of sales. But they have faced a market share decline threat by a tiny 15% market share holding fem care Products Company offering heavy price discounts. Even P&G followed the suite to match the market competition and in the melee they and their retailers temporally lost sales revenue and faced product devaluation.
But in all three cited examples companies were successful only with executing right marketing strategies. Please comment your perceptive thoughts on these Three examples, our perceptive management solution for TASK 270-will be posted on Good Morning Management solution on Monday 4th Dec 2023.
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