Unit 13 Marketing Strategy Assignment Tide
Marketing strategy Unit 13 In order to help organisations establish effective marketing strategies, tide focuses on marketing strategies. As a result, tide will assist organisations in gaining a competitive advantage in the market and in effectively promoting and marketing their products. A detergent company is considered in this paper because to the intense competition in the household products market. A corporation called Tide sells detergents to homes on the market. In practically every home in the UK, Tide is one of the most widely used detergents.
Procter and Gamble, one of the most dependable and reputable brands in the market for home goods, is the parent company of Tide. Since its 1946 debut, Tide has been sold in the markets of the United States, Canada, Europe, Latin America, India, Israel, Morocco, the Philippines, Saudi Arabia, Turkey, the United Arab Emirates, and the United Kingdom.
SWOT ANALYSIS
SWOT analysis is a strategy that allows an organisation to learn more about its internal operations. Information about a company’s strengths, weaknesses, opportunities, and dangers enables it to make wise decisions about its marketing strategy and ensures that its marketing can be carried out successfully. In this section of the study, information about Tide’s internal operations will be revealed. Analyzing the company’s strengths, weaknesses, opportunities, and threats can help obtain information about the company’s current situation.
PESTLE analysis
With the aid of PESTLE analysis, external environment information is acquired. There are numerous outside elements that could have an impact on the company. As a result, it is imperative that the organisation analyse these issues. PESTLE analysis takes into account economic, social, technical, legal, and environmental variables as well as political factors that may have an impact on the firm. As a result of the analysis of these variables, Tide will be able to improve its marketing efforts, attracting more customers to its products.
Political Factor: Businesses that have a strong brand reputation in the marketplace sometimes operate in multiple markets to tap into the sizable clientele there. Every business must abide by the various sets of government regulations that each market has. Any policy violation could have an impact on how a company is perceived (Kotler, et. al., 2014). Therefore, Tide must create the tactics that might guarantee that all governmental directives could be carried out.
Economic factors: The economies of different nations affect how much goods and services are sold on the market. The transaction could be impacted by changes in the national economy, which could result in a loss for the business. It is essential that Tide create the plans that will enable it to manage economic volatility and ensure the organization’s seamless operation (Barney, 2014).
Social Considerations: Every organisation has a duty to care for the society in which it operates. Tide should offer adequate infrastructure, employment opportunities, and a variety of other things that could help civilization advance.
Segmentation, targeting, positioning (stp)
Three main marketing tactics are used to create STP for an organisation. Segmentation, targeting, and positioning of the company or brand in the market are these three methods. These three elements or tactics aid in the market development of the company and aid in securing success and a competitive edge in a cutthroat industry.
Having a deeper knowledge of each of the three components can help you better comprehend the STP aspect:
Segmentation: Based on a number of characteristics, the organisation segments its market. The most successful strategies an organisation can use to capture the market and assure market viability are market segmentation.
Demographics: Tide could segment customers based on their demographics. Age, gender, occupation, and socioeconomic groupings are taken into consideration while segmenting this market. Tide should pay attention to the demographics and cater its offerings to the target market (Burrow, 2008). Tide needs to concentrate on the female population because they are mostly responsible for managing the household and household goods. Therefore, it is essential that Tide make an effort to appeal to the female demographic and strive to effectively sell its products.
References
J.B., Barney, & (2014). Strategic factor markets: Hopes, chance, and corporate planning. (Vol. 32). Management magazine.
Bohm, A. (2009). (2009). the SWOT evaluation Page Cogan.
J. L. Burrow (2008). Marketing; Continuing Education.
A. Kolios and G. Read 2013, MDPI AG, Basel, “A Political, Economic, Social, Technology, Legal, and Environmental (PESTLE) Approach for Risk Identification of the Tidal Industry in the United Kingdom.”
J. E. McCarthy (2012). Simple marketing. a managerial strategy. Irwin, Homewood, Illinois
M. McDonald (2010). English publisher Butterworth-Heinemann, Marketing Plans.
V. Njoku (2015). Success Strategy and Positioning Plan. Cengae Education.
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