Fundamental of Marketing Case Study Example | Topics and Well Written Essays - 3000 words

Fundamental of Marketing - Case Study ExampleIt expanded into the European market by acquiring Elkjop, a leading Nordic retailer, and this led to further growth of the business. Further acquisitions include UniEuro in Italy, and other acquisitions in Ukraine and Russia. In Russia, Dixons explored a joint venture with an existing ElDorado, but indomitable not to pursue the joint venture (Jobber & Ellis-Chadwick, 2012, p, 66). Dixons Retail Plc expanded into Ireland, Greece and the Czech Republic to become Europes largest specialist electrical retailer and go company (Jobber & Ellis-Chadwick, 2012, p, 66). All along, Dixons Retail Plc has developed a robust business model, in which the customer has not always been in the heart of the companys business planning. Initially, the groups competitive position was focused on the product-focused approach. The company used the stack-em highsell-em cheap positioning statement (Jobber & Ellis-Chadwick, 2012, p, 66). The companys products were s old in brightly coloured stores that attracted customers by being packed with mod and exciting electrical goods. Customer satisfaction was not a primal focus to this strategical approach hence it was overlooked (Jobber & Ellis-Chadwick, 2012, p, 66). However competitors had not missed out in this aspect. Given the market environment, Dixons Retail Plc had to devise a selling strategy to maintain its market share, and even per systema skeletale better in the market. A formal marketing planning process outlines how the elements of a marketing mix will work together to ensure maximum effectiveness (Grensing, 2013, p 21). The marketing planning process defines marketing goals. It also outlines the strategies that will be used to meet the marketing goals and the tactics, which will be implemented to achieve the marketing strategies (Grensing, 2013, p, 21). Dixons Retail Plc, when devising its marketing strategy, applied a formal marketing planning process, as described next. First, Dixons Retail Plc formulated a mission statement by devising a meaningful statement of the purpose and bang of business. The company devised a transformation strategy which would include the customer at the heart f the business. This approach was to be guided by a new positioning statement bringing life to technology (Jobber & Ellis-Chadwick, 2012, p, 67). According to McDonald and Mouncey (2011, p, 27), a strategic marketing plan should begin with a mission or a purpose statement. Therefore, Dixons had formulated a new mission or purpose statement to set objectives that its new marketing planning process had to achieve, in the form of a transformation strategy. Second, there were overall objectives that were meant to shape Dixons Retail Plcs marketing plan or transformation strategy. In this case, Dixons Retail Plc had five, clear objectives for its strategic plan. The objectives include that of laying focus on the customer (Jobber & Ellis-Chadwick, 2012, p, 67). Therefore, Dixons retail Plc was to put the customer at the heart of the business, in devising its strategic marketing plan. some other objective that Dixons Retail Plc set to achieve was that of focusing the portfolio on winning positions (Jobber & Ellis-Chadwick, 2012, p, 67). Thus, the companys strategic marketing plan would involve investing in areas or markets where it would be assured of obtaining and retaining many