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. ...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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