As the marketing director of a global retail company that produces and sells its own perfumes and beauty and care products, you are at the forefront of all marketing operations and plans in the organisation. Your daily functions include collaborating with other managers in the company’s various branches in South Africa and across the globe in creating fresh and exciting marketing campaigns that can be used across the board.
The company is introducing a fresh range of products that would appeal to people with sensitive skin or skin conditions. You will have to work close with your global, national and regional teams in promoting these products effectively to your various target markets. Answer these questions to display your knowledge of marketing and the marketing function. To answer this question effectively, you need to research companies that offer these products in the retail market.
QUESTION 1 [30 MARKS]
Dramatic changes occur in the marketplace daily. Richard Love of HP computers observed: “The pace of change is so rapid that the ability to change has now become a competitive advantage.” Yogi Berra, the legendary New York Yankees catcher and manager, summed it up more simply: “The future ain’t what it used to be.” As the marketplace changes, so must those who serve it (Kotler and Armstrong, 2018).
As a company with global operations, you are faced with varying challenges, which range from political and legal to cultural difference, as you must market your services and products to customers with entirely diverse backgrounds.
Identify any five key global challenges that affect your retail firm the most. Explain how they affect your company, and explain marketing’s role in overcoming these challenges.
QUESTION 2 [20 MARKS]
One of the main challenges you might face as a retailer and a marketer is understanding your target market and the factors that impact their buying behaviour.
Discuss the potential benefits that you foresee in marketing the products and the opportunities and possible threats it poses, using each factor of consumer buying behaviour.
QUESTION 3 [50 MARKS]
Now that you have shown your knowledge and understanding of some of the key global challenges that affect your organisation and your customers’ buying behaviour, you should be able to design a short plan to market the new range of products.
Design a short marketing plan, paying careful attention to:
- The strategy that will be most effective in promoting;
- Pricing, and which market will be most profitable;
- Your differentiation and positioning strategy;
- Your company’s retail mix and how this range will add value to existing products; and
- Your distribution
Note: You can search and find various templates of marketing plans online. Choose one that you find most effective in designing a plan for this product range.
Answers to Above Questions
Answer 1: Businesses in all industries are faced with significant challenges and globalisation has contributed significantly towards it. The retail industry is also highly affected because of globalisation. The global players have significantly dominated the retail industry making it very difficult for the small retail businesses to survive. Technology has further contributed towards difficulties in operating retail business, as businesses are required to make rapid changes to meet changing customer’s expectations. In this relation, the five major global challenges that affect my retail firm the most are ……
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