ASSESSMENT TEMPLATE___________________________________________________ Subject Title Principles of Marketing Subject Code MKT600 Lecturer Semester Semester 2, 2018 Assessment Title Marketing Plan...

Running Head: Marketing Strategy
Marketing Strategy
Marketing Strategy
Student Name
University Name
Contents
Executive Summary    3
Recap on Company    3
Marketing Strategies (Current and Recommended)    4
Target Market(s) & Positioning    4
Marketing Mix and Extended Marketing Mix    5
Product:    5
Price:    6
Place:    7
Promotion:    7
People:    8
Physical Evidence:    8
Process:    9
Recommendations    9
Developing a proper Corporate Social Responsibility    10
Developing proper pricing strategies    10
Conclusion    10
References    11
Executive Summary
 The main objective of the study is to develop a marketing plan, which addresses the following factors in the study: the concept of marketing mixes is the essential tools for analysis in the development of current marketing plans. The evolutions of various types of the marketing strategies include the overall goals of different organizations for a development process of the active and appropriate marketing programs and operations. Some of the issues that Grofers faced in developing an appropriate marketing plan were highlighted in the job overview. The conclusions of the study will discuss the various recommendations that are implemented in the workshop summary. However, this task will summarize the different meanings of developing an appropriate marketing plan.
Recap on Company
Grofers is an Indian e-commerce company which provides a platform for grocery shopping. Grofers business model is based on doorstep delivery of grocery items which customers shop online on their mobile app from their nearby stores (Baines, 2011). Grofers was established in 2013 and is headquartered in Gurgaon India. Food and Grocery segment holds 60% of the total market value of Indian retail. Indian food and grocery market are dominated by local mom and pop shops and there has been an entry of numerous companies in the space of online food and grocery shopping owing to the rising penetration of smartphones and internet in India. The online food and grocery market is valued at $600 million in 2016 and is expected to grow up to $ 5 billion by 2020 at a CAGR of 72%. Grofers has reported revenue of INR 14.3 crores in the fiscal year 2016 and has so far raised over $200 million from investors like Softbank and Tiger Global (Bowman & Gatignon, 2010).
Marketing Strategies (Current and Recommended)
Target Market(s) & Positioning
Target Audience Categorization
    
Group Women (30-35) Students (20-25)
· Women ages 30-35 are the largest adopters of the online grocery shopping
· 70% of users on the major e-grocers are women
· 15% of customers are senior citizens
· 12% of orders done in approximate 10pm - midnight slot.
· Institutional clients always make up 30% of orders to select the major retailers
They seek to decrease the effort, time, cost related to shopping. This market segment is often brand or product loyal to retailers and the brands they buy. This loyalty is called “customary loyalty (Fordham & Robinson, 2018).” Consumers in this market segment repeat purchases because of their habits instead of some emotional and rational attitude. They may be affected by discounts and promotions, however, they usually don't respond to these offers, not to other segments.
Targeting involves identifying the market segments by the company to cater to that particular segment to achieve its revenue-generating goals. The main target of Grofers is the family portion of the retail market; this reflects a large number of sales in grocery sales and home product sales (Gond & Moon, 2012). In addition, the Australian retail market share is dominated by Grofers, which can be attributed to the fact that Grofers account for more than three-quarters of the Indian retail market.
Positioning
Targeting includes translating consumer preferences to promote specific areas in specific market segments in a particular market segment. Positioning requires different brand positioning initiatives to promote the brand image to maintain the psychological steps of the consumer. Grofers tends to alienate its competitors through campaigns and reaffirms the industry slogan of providing fresh food to customers (Gordon, 2012). The company has begun its marketing campaign to streamline the way products are removed directly from farmers on farm shelves. Launching a loyalty program in the form of daily rewards by launching a shopping card to improve the overall shopping experience of its consumers, it stands out among other retailers (Jiménez-Marín, 2018).
Marketing Mix and Extended Marketing Mix
Grofers' marketing portfolio analyzes brands/companies covering 4P (products, locations, prices, promotions) as well as explains Grofers' marketing strategy (Masoud, 2017). This article details the pricing, distribution and advertising strategies...