Building A Marketing Strategy For Morrisons: An Analysis

Morrisons: History and Overview

Using your chosen organisation as an example, assess the business mission, vision, goals and objectives as well as the core competencies. Analyse the factors that have to be considered when formulating a strategic plan of the chosen organisation.Using your chosen organisation, evaluate the effectiveness of at least two techniques used when developing strategic business plans for your organisation, for example, SPACE and the To achieve M1, an effective approach to study and research has been applied in the analysis of factors that have to be considered when formulating a strategic plan of a chosen business.

To achieve D1, conclusions have been arrived at through synthesis of ideas and have been justified through practical examples by evaluating the techniques used to develop strategic business plan of chosen organisation.Suppose your chosen organisation wants to enter into a new market, use this information to address the following tasks.

Analyse the current strategic positioning of your chosen organisation by conducting an organisational audit (using SWOT analysis and Ansoff matrix). Using appropriate methods and tools, such as PESTLE and Porter’s Five Forces analyses,carry out an environmental audit of your chosen organisation.Assess the significance of stakeholder analysis when formulating a new strategy for your chosen organisation.

Present the new strategy for your chosen business based on organisational audit and stakeholder analysis.To achieve M2, relevant theories and techniques have been applied in the analysis of the chosen organisation’s strategic positioning through an audit of its environment To achieve D2, independence judgment has been demonstrated when choosing relevant the process of organisational and stakeholders analysis with example and relevant citation.

Based on analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment of your chosen organisation. Based on the analysis of the appropriateness of alternative strategies, justify the selection of new strategy for your chosen organisation. To achieve M3, an appropriate structure and approach have been used in the analysis of alternative strategies and the selection of a new strategy for the chosen organisation has been justified

Based on Task 3, assess the roles and responsibilities of personnel in charge of implementing the strategy. Analyse the estimated resource requirements to implement the new strategy. Evaluate the contribution of SMART targets to the achievement of the strategy implementation.To achieve D3, convergent and lateral thinking have been applied in evaluating the contribution of SMART targets to the achievement of the strategy implementation in the chosen organisation.

In an international business environment it is very crucial for any business to understand the dynamics of business and marketing strategy (Morrisons-corporate.com, 2017). This report is aiming to build a marketing strategy for Morrisons and to do that at first the environmental analysis would be conducted in details. Recommendation strategies are devised and put forward after being evaluated by different tools and methods. By all these, a proper marketing strategy is designed for Morrisons.

In the year 1899, William Morrison, an egg and butter merchant started working on creating an organization, which went on to become one of United Kingdom’s largest food retailer with more than 500 stores today. From a small food stand at the Bradford market it went on to become a leader in supermarket retailing by means of inspiration to innovate. After starting out with counter service, they moved to market stalls and because of huge progress they opened a small; town centre shop (Markets.ft.com 2017).

In 1961, the company’s first supermarket "Victoria” was opened in Bradford in 1961. The first outlet was of 5,000 sq.ft. of retail space and was selling fresh meat and green grocery, along with free parking available. The company went public in 1967 based on ongoing expansion and plans for further growth. The new head office, warehouse and factory complex opened in Bradford in the year 1971. In 1978 the takeover of Whelan Stores was the first acquisition made by the company. It made the company operate in Lancashire for the first time. It followed in 1980 as the Farmers Boy purpose-built fresh food factory started trading by becoming a wholly-owned subsidiary of Morrisons. The first Morrison distribution centre started operations in 1988 by the name of Wakefield 41. Apart from the already existing amenities, this centre included chilled storage and a clean storage area for the commodities, in addition to a bread warehouse. The second distribution centre Gadbrook Park opened in 1997 in Cheshire. Their first store opened in 1998 at Erith, Greater London, south of England. In the consecutive year Morrisons opened about 100 stores all over UK. In 2000, the first welsh store opened in Rhyl. Their first store in Scotland opened successfully at Kilmarnock in the year 2004 (resources.hwb.wales.gov.uk 2017).

In 2001, Morrisons joined for the first time in FTSE 100. In three years they magnificently concluded the buyout of Safeway, making the group the fourth largest supermarket among UK supermarkets. In order to serve the expanded group, at Thrapston in Northamptonshire, Morrisons procured an extra fresh produce pack house and distribution centre. The three bakery factories at Rathbones were acquired by Morrisons in 2005, and in the same year they acquired a tariff based abattoir by the name of Kepak Buchan. Richard Pennycook joined the Morrison Board in 2005 as a finance director. In the same year in November, Morrisons became successful in completing the procedure of altering the Safeway stores to the Morrison format, making it one of UK’s biggest retail conversion exercises ever. It is the first supermarket that committed to selling 100% fresh British lamb all through the year at their stores all across the nation since 2007-08 (Thornton 2017).

Mission, Vision, Goals, Objectives, and Core Competencies

Morrisons has a vision of becoming the food specialist for every being. Their vision is sustained by their brand value and tactical goals. The organization has made significant strategic progress to position themselves as UK’s “food specialist for everyone”.

The company’s strategic objectives are built on its historic strength and make the company unique in its own way in the UK grocery market. These include in-store fresh preparation, shifting from being national to nationwide, superior selling and service methods for customers, maintaining low costs to guarantee competitive prices, inclusion of vertical integration in the supply chain, guaranteeing availability of the right products always and maintaining great value across Morrisons ranges (Morrisons-corporate.com 2017).

The company’s website says they are offering quality and fresh products at reasonable price, along with vouchers and discounts. Their main objective is to serve great food, offer outstanding services and be efficient. It also says that they wish to present sustainable, continuing growth by leveraging their conventional strengths of fresh food, quality, value and service, which are supported by their exclusive vertical integration capability, all the while displaying their consumer’s needs and the market changes. They want to do it in ways that remains true to the things that make them the organization they are. Morrisons defined their strategic priorities as expansion by means of new space and new distribution channels (Butler 2015). Morrisons is a specialist in providing food, dining services and nutrition to the healthcare industry. They are able to offer fresh food to the children and families, increasing their growth rate in the market. This is their strength.

The main achievement of any business is dependent on its strategic plan, which shows the direction in which an organization would go. This plan is influenced by a lot of factors and the manager designing the strategic direction must consider those while formulating the plan (Kerzner 2013).

Internal factors: This includes the factors present inside the organization counting organizational structure, culture,ethical code, policies and strategies.

Stakeholders: The main stakeholders of Morrisons are its employees, the leadership, consumers, suppliers, communities and the government. These stakeholders have a different sort of expectations from the organization which affects the business (Wilson and Gilligan 2012).

External factors: These are also called macro factors that are out of the control of the organization and which in turn influences the organization. These include political, economic, socio-cultural and technological factors.

Political factors: The political and legal environment influences the marketing decisions in different ways.

Factors Affecting Strategic Plan

Economic factors: These factors are related to the country wealth and the ability of customers in buying goods and services. The currency exchange rate is also included in this factor as influences the exported and imported goods, affecting their expensiveness (Kiptoo and Mwirigi 2014).

Social factors: This includes the demands, tastes and preferences of customers, which varies due the difference in trends, culture, disposable income and general changes (Charles, Ojera and David 2015).

Technological factors: As technology is progressing Morrisons must use them to generate new ideas and move ahead.

Competitors: The main competitors of Morrisons are Walmart, Tesco, ASDA, and Sainsbury’s.To win the war of market share, Morrisons needs to be aware of their competitor’s policy to beat them.

SWOT: It gives the clear picture about Morrisons, by which their Strength, Weakness, Opportunities and Threats can be assessed.

BCG matrix: This matrix is also known as the growth share matrix and is used as a corporate planning tool to represent an organization’s brand portfolio on a quadrant down the horizontal axis representing relative market share and the vertical axis representing speed of market growth. The matrix was developed in 1968 by the Boston Consulting Group from which the name came.

The BCG matrix is extremely useful in allocation of resources across the business units of the organization for them to assist in pursuing market share objectives and seek benefits of the experience curve. The four quadrants of the matrix support in providing the organizations with some strategic guidance for the future direction of the firm (Jarzabkowski and Kaplan 2015).

Question Mark	Low market share, so no cash generation Requires high investment, so growth strategies are required
Stars	Morrisons is absent in this area, with their high growth rate and high investment
Cash Cows	Low business growth and relative market share, so low investment, asking for good leadership strategies.
Dogs	Low market share, reduction in expenditure Needs profit generation

Table: BCG Matrix

Source: Created by author

SPACE matrix: The SPACE matrix is the short form for Strategic Position and Action Evaluation matrix. It is a superior technique that can be used to evaluate the logic and usefulness of any specific strategic plan. This matrix was developed by the famous strategic academics Alan Rowe, Richard Mason, Karl Dickel, Richard Mann and Robert Mockler.

This framework is significantly useful, but not a very well-known tool for the development and reviewing of an organization’s strategy. The matrix can be utilized for predicting the overall major themes, for checking any organizational exercise process at the end. It can also be employed for the evaluation of individual strategic options that are generated by the utilization of other strategic tools like the Ansoff growth matrix. The ratings from each dimension of this matrix help in guiding the strategic agenda (Hill, Jones and Schilling 2014).

Analyzing Current Strategic Positioning

SWOT Analysis

Strengths · Strength of the unique selling point · Effective distribution network · Efficient supply chain management · Superior service levels · High market presence (Interactive Investor 2017)	Weaknesses · Absence of online business · Over dependency on UK · Huge number of product recalls
Opportunities · Selling of organic products · Diversification strategy · Opening of online stores · Opportunity of international expansion	Threats · Competition in pricing · Online retailing · Competitive market environment · Tax burden · High human resource costs (Interactive Investor 2017)

Table: SWOT Analysis

Source: Created by author

The analysis in the table provided above has given a clear picture of Morrisons’ organizational situation. They have a strong distribution network and one of the best supply chain management department.Their main objective is to provide consumers with fresh foods. Due to this they monitor their distribution system and makes sure deliveries happen on time. Morrisons’ market share is almost 11%, making its existence high in the UK market (Ruddick 2015). However, the company’s present location and products negatively affects its market share and financial situation. Recalling of many products on quality grounds can make consumers feel being sold low grade and unhealthy products, in turn hampering the brand’s image. They have an opportunity to leverage the awareness about organic products and cash on the trend with selling increased number of organic products. The failure in increasing their market share for a long time is making them lag behind and decreasing their brand image. Higher taxation amounts and human resource costs also pose a threat (Wood, 2014).

Morrisons must evaluate their business with the help of product-market strategy for measuring the business position and take necessary growth steps. The company must use the following ways as shown in the Ansoff matrix:

MARKET PENETRATION Morrisons can try using existing products in existing retail markets to grow.	PRODUCT DEVELOPMENT Morrisons must attempt developing new product in existing market to extend their new product range in a new market.
MARKET DEVELOPMENT Morrisons can try using existing products in new markets to acquire new customers, new market and region.	DIVERSIFICATION Morrisons must attempt developing new products in new markets to meet customer needs.

Table: Ansoff Matrix

Source: Created by author

PESTEL Analysis

Political	Changes in governmental situations would decrease the profit margins for Morrisons if the taxation policies are influenced.With cutting down of consumer benefits, in order to ensure less spending, the sale of products would be affected (Metzger 2014).
Economic	Meat as a product helps Morrisons keep control over food quality. Morrisons helps in keeping prices of products low. It in turn increases their economies of scale (McLaughlin 2016).
Socio-cultural	Morrisons’ National Qualified certificate helps recognize employee job profiles and plan for changing their lifestyles. Their supply of gardening equipment to schools helps maintain social balance and their values (Metzger 2014).
Technological	Morrisons is planning to launch an automatic product ordering service by the help of new technologies. It would help in attracting customers and providing superior customer service (McLaughlin 2016).
Environmental	With increased sale of reusable bags, Morrisons is aiming to maximize their profits and support environmental causes (McLaughlin 2016).
Legal	Morrisons follow the Joint Stock Companies Act of 1862 and they have a separate policy for energy and pollution control.

Table: PESTEL Analysis

Source: Created by author

Morrisons have their key stakeholders in the form of competitors, customers, suppliers, colleagues, private/non-government organizations, public/government organizations and communities. The analysis conducted of stakeholders is a form of consideration shown to the influence stakeholders have on any business. This stakeholder analysis is employed in Morrisons marketing strategy formulation. While developing a marketing strategy it is important to provide careful consideration the customer stakeholder group. At the time of planning a strategy, the process of decision making and the method if interacting with the stakeholders are involved. The power a stakeholder holds has the capacity to influence the failure and success of any initiative (De Brucker, Macharis and Verbeke 2013).

Power/Interest Matrix: This helps classifying the stakeholders according to their power and the extent to which they display their interest in the organizational actions. It is vital to comprehend stakeholder power and interest, in which power/interest matrix helps. It is useful in illustrating the following for Morrisons:

High Power/High Interest: These stakeholders are key players, fully engaged and require special efforts to satisfy their needs.

Organisational and Stakeholder Audits

High Power/Low Interest: these stakeholders get involved by maintaining proper communication about different ways to get involved.

Low Power/High Interest: These stakeholders frequently communicate and then acquire help with project details.

Low Power/Low Interest: The inputs of these stakeholders get examined for the success of the project.

The new strategic options available for Morrisons can be assessed based on cost and benefits. Both cost and benefits can be assessed on the grounds of acceptability, suitability and feasibility (Wrisberg et al. 2012). The table below would present the new strategy options for Morrisons:

Criteria	Strategic Options
Suitability	This option is agreeable with the already existent strategy of Morrisons and their superstores have in the past experienced the expansion.
Acceptability	There is low risk for Morrisons to face in adopting this strategy as it would help in expanding the core business.
Feasibility	The superstore would be able to handle the capitals for investment from the stakeholders.
Suitability	At the time of acquisition in the past, this strategy has helped Morrisons.At the time of recession the market would be expanded by horizontal integration.
Acceptability	It has medium to high risk factor because of the stakeholder considerations in terms of expected synergies.
Feasibility	It needs an integration strategy with considerable capital andinvestment.
Suitability	It is suitable for supporting the goal of corporate development.
Acceptability	It has medium risk because of the rising trends of online shopping.
Feasibility	It is easy to launch an online business, requiring delivery of products and a good supply chain management.

Table: New Strategic Options

Source: Created by author

3.1 Market Entry, Substantive Growth, Retrenchment for Morrisons

There is a need for the company to implement strategies for coping up with different internal and external pressures from new entries and competitors. To manage these problems Morrisons need to attempt entering overseas market. Different options are available for this. These options are based on certain factors such as cost, control and risk. Among these options the simplest strategy is exporting by direct or indirect method (Terpstra, Foley and Sarathy 2012). To make Morrisons an international company it can possibly face the following three hurdles:

Sources: Morrisons would be facing the option to decide about whether to buy the materials required or they make their own.

Marketing: Morrisons need to analyse the market so that they can decide which company they should select, which segment to decide upon, execution of their marketing attempt, their entry mode in the market with the help of intermediaries and what information they might require for this (Hill, Cronk and Wickramasekera 2013).

Investment and degree of control: Morrisons need to take a decision in the matter of building relationships by means of joint ventures and international partners.

In this discussion it has been found that Morrisons’ market share is getting eroded and the company’s prices are dropping. Therefore, Morrisons must focus on building relationships with the help of joint ventures (Killing 2012). If Morrisons gets into joint ventures with other companies they would be benefited in the following ways:

• Morrisons would be able to share the risks drawn in the business operations.
• Morrisons would have the option of combining their experience and technical knowledge that are necessary for operating their business to share with their overseas partners.
• The option of joint venture might be the only way for Morrisons to enter a new market.
• This is a viable way for Morrisons to acquire sources from other countries (Beamish 2013).

Morrisons can adopt diversification strategy to expand, grow and manage risks. They are only operating as a food and beverage company. However, if they implement the diversification strategy then they can acquire competitive advantage over the following things:

• Morrisons can acquire new customers and capture new markets, in turn increasing their market share.
• Morrisons would be able to grow and move into new industries, acquire new employees and new customer base.
• Morrisons would be able to protect their business from failing, as if one product fails there would always be another one as an option (Rothaermel 2015).

By pressure from internal and external influences, Morrisons can cut their costs aggressively and make use of those savings for cutting their product prices. It can result in a significant reduction in gross profit margins for Morrisons and its competitors too.

Presenting the New Strategy

It is extremely crucial to perform a SWOT analysis to measure an organizational strategy for its effectiveness.The SWOT analysis describes a company’s strength, weakness, threats and opportunities. The strategy of Morrisons must be evaluated based on three criteria:

Suitability: Suitability of Morrisons would be dealing with the benefit of the strategy considered by them in terms of economy.

Feasibility:This strategy considers the resources of a company, in this case Morrisons, for its application as a strategy.

Acceptability:This strategy would be concentrating on the stakeholder expectations, which is necessary to be in accordance with the performance outcomes of the company. It is mainly managing returns, stakeholder reactions and risks (Bond, Morrison-Saunders and Pope 2012).

4.1 Roles and Responsibilities of Personnel in Charge

It is the responsibility of the top management, owners, individual, middle level management, investors and strategic planners to make sure a successful implementation of any chosen strategy. The roles and responsibilities of top management are:

• It is the responsibility of the chief executive officer of Morrisons to realize the profits of the strategy that is supposed to be implemented.
• It is the responsibility of the CEO to set up a positive ambiance within the organization.
• It is the responsibility of the CEO to make sure that Morrisons acquire all the unique capabilities needed for the implementation of the chosen strategy.
• It is a must for the CEO to get involved in making plans.
• It is the responsibility of the CEO to discuss with other executives while making plans. He must assess the plan provided with constructive feedback (Grant 2016).

Roles and responsibilities of the mid-level management are:

• The mid-level management is given the responsibility of implementing the strategy and following the instructions provided by the top level management.
• Morrisons mid-level management is responsible for the disclosure of the complexity involved in the implementation of the chosen strategy (Grant 2016).

Role of owner, investors and strategic planner:

The owner of Morrisons must evaluate the plan and in accordance with that it is hi responsibility to support the other in the organization in implementing the strategy. Strategic planners take responsibility of providing directions to strategy implementation. Investors require realizing the profit of the strategy and help in it implementation (Grant 2016).

The managers and leaders with authority to bring in change in the organizational structure needs to take responsibility of change implementation. Change representatives must recognize the main areas for implementing change and accordingly implement a chosen strategy. Morrison employees must make sure the benefits of the strategy and work towards it implementation (Grant 2016).

Financial Requirement	It is a must for Morrisons to check that they have access to enough resources for implementing their chosen strategy. From previous discussions we have seen that the prices for Morrisons products are dropping and the earnings are decreasing. Therefore it is a must for them to make joint venture effort with another organization and loan money from that venture if required to invest in the implementation of the strategy (Slack 2015).
Human Resource Requirement	It is necessary for the human resources department of Morrisons to display extra commitment toward the strategy implementation process as they are the ultimate people who would be implementing the strategy fully. Morrisons requires a diverse workforce to operate in their organization (Slack 2015).
Technological Requirement	Morrisons has a responsibility of changing their technology that was being used by them for implementing the chosen strategy. They must adopt the new technology for improving their business (Slack 2015).
Material Requirement	It is necessary for Morrisons to decide whether they should make the material themselves or buy the materials required – whichever would be beneficial to them (Slack 2015).
Time Requirement	Time a very significant element in the implementation of any strategy. It is necessary for Morrisons to outline the time frame in order to implement the chosen strategy (Slack 2015).

Table: Required Resources

Source: Created by author

The SMART methodology of demonstrating the objective of any organization is used by analysts for their achievement. This method assists in guiding the goal development process. The analysis of Morrisons SMART objectives can be done in the following way:

S	Specific	The objective is based on the company’s vision. Their vision is to be a diverse operational business and offer the best and quality product to their customers (Tempest 2012).
M	Measurable	Measurable or measurement objective of Morrisons ought to provide answers as to how they would be meeting the customer expectations. In this section Morrisons’ objectives would be measured against the benchmark set.
A	Achievable	It is the quality and quantity of staff in an organization for achieving the objectives of that organization (Tempest 2012). Morrisons has very limited number of people assigned for goal achievement. The economic downtrend has made many of its employees resign from the company.
R	Relevant	In analyzing the objectives, Morrisons can measure the relevancies present in their objectives. It is a must for them to calculate the influence of distinct objectives on their business.
T	Time	Time is a very crucial factor in any kind of operational work.Therefore, it is important that Morrisons assess the time for deciding the time of the implementation of the strategy.It is the management’s responsibility to evaluate the results of the strategy prior to the ending time for checking if any alteration is required for achievement of standard results (Tempest 2012).

Table: SMART Targets

Source: Created by author

Conclusion

For every organization there is a need for the establishment of efficient solutions in the IT sector or any effective methodology that would help accelerate the complete business processes. In terms of Morrisons, they have adopted the diversification strategy for business development, where they have attempted preventing risks. For their product-market strategy, it has been a successful adoption as that helped them effectively sale their product. They can also go ahead with advanced business strategy by means of advanced e-presence. This analysis and report on Morrisons can help higher authorities to take effective decisions.

Assessing Roles and Responsibilities

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