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Marketing Plan - Essay Example

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Marketing Plan

450). John Lewis departmental store describes its customers in terms of demographics and psychographics. According to Attwood (2007), John Lewis departmental store serves the affluent and middle classes whose income may not be reduced so much by high bills. This is shown by the high priced goods sold in stores. John Lewis customers are also trendy and value fashion. This organization can increase its market share by coming up with new products, which can best serve the low income earners. John Lewis will come up with low-priced differentiated products. United Kingdom’s retail market is dominated by six huge retailers who account for 60 percent of all goods sold in the region (Board Bia, 2012, p. 3). As a result, this market is extremely competitive. This market is fast moving and at the vanguard of initiatives. Because of the continuous changes in the market, John Lewis has developed exceptional points of difference to attract new patrons and entice the existing customers to spend more (Capon and Hulbert, 2007, p. 345). Any departmental store or a supermarket is considered John Lewis’s competitor. ...
Mark and Spencer is also a chief retailer in United Kingdom with more than seven hundred stores across United Kingdom and more than three hundred in other nations. Its products are luxury food items and clothing. It is the biggest retailer and controls 24 percent of the market (Board Bia, 2012, p. 5-7). Because of the intense competition John Lewis has developed exceptional points of difference to attract new patrons and entice the existing customers to spend more. The Buying Process of the Targeted Customers The buying process involves numerous activities by both customers and the company personnel. John Lewis has majored in customer service, which has made its profits grow over the past few months (John Lewis, 2012). Therefore, this process starts from the point where the customer recognizes his or her need or becomes aware of his or her problem (Lamb et al, 2009, p. 224). This may be the need for a new cloth, new phone, new car insurance or body cream. After identification of the need, the customer sets his or her quest for information on the products that can adequately satisfy his or her needs (Lamb et al, 2012, p. 256). This is adequately assisted by the internet which provides a wide range of information of the products available that can satisfy the need. John Lewis has stand-by personnel on the internet ready to assist consumers seeking information on a product or a service (John Lewis, 2012). John Lewis deals with numerous products. Therefore, the customer is provided with all the information on the available products in the market. The company personnel are expected to entice the customers into buying the product (John Lewis, 2012). As according to Brassington and Pettit (2006, p. 346-50), after the customer acquires all the ...Show more

Summary

Marketing Plan Sources of Marketing Research Information In developing a marketing plan, a marketer or manager will need adequate information in order to develop a salient strategic plan. At numerous points, a marketer has to determine whether he or she has adequate information to make a strategic action on which markets to pursue (Brassington & Pettitt, 2006, p…
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