Marketing Strategy & Environment for SA Retail Stores

You are employed by an organisation that runs a chain of retail stores across South Africa. Your organisation sources local products and caters to smaller communities with little access to the major city centres. These retail outlets offer superior products at very affordable prices. They also use local suppliers and vendors to help the communities grow. After five years as a marketing co-ordinator for your organisation, you have been promoted to the head of the marketing department.

QUESTION 1                                                                                                                        [25 MARKS]

• You would like to improve your understanding of your marketing environment. Briefly discuss the elements of the marketing environment. In your response, discuss how these elements might affect your organisation’s marketing initiatives. Give examples where applicable.

Use the rubric to guide you.

QUESTION/SECTION 2                                                                                                      [40 MARKS]

• Your line manager wants you to design a customer-driven marketing strategy to ensure that you are targeting the right market for your products. Briefly discuss the steps in designing a customer-driven marketing strategy.
• Market segmentation can help organisations to target specific customers and produce marketing strategies that target the specific market.

Briefly discuss market segmentation. Then, conduct market segmentation for your organisation.

Use the rubric to guide you.

QUESTION 3                                                                                                                        [35 MARKS]

• Briefly discuss the model for consumer buyer behaviour and the characteristics and factors that can influence consumer buyer behaviour.

Use the rubric to guide you.

Any given price a company charges “will fall somewhere between one that is too low to produce a profit and one that is too high to produce any demand” (Kotler & Armstrong, 2020).

Select a pricing strategy that is most applicable to your organisation and discuss how this strategy can be used to benefit your company’s marketing plan and secure competitive advantage.

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Marketing Assignment Answers: Experts Answer on Above Questions on Marketing Strategy

Elements of a marketing environment
The marketing environment of a company comprises of micro environment and macro environment. The micro environment includes the internal forces such as the stakeholders like company, suppliers, customers, competitors etc. The metro environment indicates the external forces affecting the organisation such as the demographics, economic factors, technological factors, cultural factors etc.
Customer driven marketing strategy and segmentation
The important steps in designing a customer driven marketing strategy includes segmenting the market, following appropriate targeting strategy, differentiation and Positioning. Market segmentation can be done using geographic, demographic, psychographic and behavioural factors.
Consumer buyer behaviour and pricing strategy
According to Kotler, the model for consumer buyer behaviour includes need recognition, information search, evaluation of alternatives, purchase decision and post purchase behaviour. The influencing factors include cultural, social, personal and psychological factors. The pricing strategy that your organisation should consider is value based pricing. It helps in setting prices based on the perception of the customer with respect to value rather than the cost.

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