The paper "Marketing Strategies at Sainsbury’ s" is a wonderful example of an assignment on marketing. In conducting the external audit on the operational environment for Sainsbury, we focus on the Political, Environmental, Social, Technological, Legal and Economic factors. Recommendation: Sainsbury will have to observe the environmental shifts around its operation. There will be a need for continuous monitoring and reporting of environmental situations to identify possible threats to mitigate. The external audit is essential for pointing out the position of Sainsbury in relation to its core business strategies. Conclusion From the SWOT analysis, Sainsbury has more strengths and opportunities than the weaknesses and threats.
The strategic objective, however, focuses on the ways of overcoming the threats and weaknesses (Ferrel & Hartline 2010). The challenge that Sainsbury now has to live with is the inflation rate because it determined by uncontrollable global factors. The management will decide on cost reduction strategies in an attempt to manage the effects of inflation. Perhaps the decision that Sainsbury will have to make is to maximize operation in the potential areas such as food distribution. Sainsbury may also consider increasing opportunities by studying the global market and introducing additional new products and services to serve the dynamic needs of the customers.
So far, the management is satisfied by Sainsbury’ s performance but still focuses on areas of improvement. The major area of improvement is in the marketing strategies, which enables the marketing department to identify and define the annual marketing strategies. The direction that the company takes towards marketing largely depends on the SWOT analysis. Question 3: Defining Marketing Objectives From the SWOT analysis, there are areas that directly relate to the marketing objectives.
The opportunities and strengths show factors that can promote the strategic planning of marketing. The areas under consideration are: The size of the organization Community participation Customer relations Product size The four areas require the implementation of four SMART objectives for doing marketing in Specific, Measurable, Attainable, Realistic and Time-focused strategies. The SMART objective includes: Chain store Expansion Corporate Social Responsibility Consumer analysis Diversification Chain Store Expansion The number of chain stores that Sainsbury opens determines the size of market coverage and the level of awareness of the community about Sainsbury products. The company can, therefore, focus on the study of the customer needs and behaviors in the market and identify locations suitable for additional chain stores before considering opening them.
Before establishing a chain store branch, the marketing team has to conduct an analysis of the potential clientele in the locality. The population ought to guarantee adequate market size that can sustain the company on a long term basis.