In this synchronized business environment, every company is constantly trying to modify their infrastructural business operation through affordable strategic components. Marketing strategy is the essential components to be applied within the business principles for creating strong customer relationship and value. Unilever group is primarily known as Unilever, an Anglo-Dutch multinational company. It is now considered as dual listed company, in UK, it is attributed as Unilever plc and in Rotterdam, it is known as Unilever NV. The primitive aim of this assignment is to create a marketing portfolio based on the incorporated marketing strategies of Unilever. Entire portfolio is addressed to bring an innovative approach on marketing strategy through up taking all variables related to competitors, customers and collaborators.
Conception of marketing and its importance
Within an organisation, marketing is regarded as a set of principles, which is essential to maintain sustainable customer relationship through proper communication, deliverance and offerings. As commented by Trainor et al. (2014), marketing plans and strategic agenda is important to set measurable goal. It can also support to reach predetermined goals within all situational constraints. Unilever is currently stretched over 190 countries all over the world. The organisation has significant impact on their shareholders. Their incorporated business culture is supportive for their major success within the industry. Marketing strategy cannot be applied through the liable assets or resources. In the opinion of Solomon (2014), it can be structured through the capabilities of an organisation. However, there are various arguments on such opinion. According to Boons et al. (2013), an organisation can be successful only through the support of their superior resources. Capabilities are only required to beat competitors.
In Unilever, marketing strategies are created through maintaining the benefit criteria of all respective stakeholders. Based on those purpose following criteria need to be mentioned for clear understanding on market place.
Incorporated modular approach by Unilever is sequential game theory. As a marketing strategy, this theory is adopted to face all economic booms, changing customer preferences, technological advancements and depression. Such theoretical concept is applied based on the organisational capabilities and resources. This theoretical conception is also applied to analyse all possibilities within any circumstances.
Figure 1: Identical marketing strategic variables of Unilever
(Source: unilever.co.uk, 2017)
Resources: since 1930, Unilever is in operation through their plentiful resources. It supports the company to maintain exponential growth target all, over the world. As a strong paradigm, Unilever is enjoying greater opportunities due to headquarter in London. Such advantage helps the company to enjoy superiority over the rivals within European Market. Over fifty years, Unilever marketing principles are maintained through human, financial and physical resources.
Therefore, such abundant inflow of important resources is critical platform for the organisation to gain sustainable business environment.
As stated by Brandenburg et al. (2014), marketplace can be conceptualised based on market offerings, exchange, customer value, and market myopia and desired outcomes. All those parameters are focused on all the preferences of existing and future customer preferences. Therefore, marketplace is required for business growth and customer retention.
Sustainable brand: a sustainable brand loyalty is maintained by the organisation over one hundred years, not only in UK, but all over the world. Such brand loyalty also supportive for the company to maintain success within competitive global market.
Supply chain: Brower and Mahajan (2013) argued that, a rich and strong supply chain is huge boon for all organisations. Such fact is greatly stated by the Unilever. Organisation personals are very much experienced to procure best product quality and required procedures. Therefore, an eco-friendly supply chain system gets fruitful growth based on the experienced knowledge. Such knowledge is also supportive for the company to gain stability within tumultuous times.
According to Castells (2013), marketing management orientation is the categorised strategy through incorporation of various concepts such as product, marketing, selling, production and societal. Such conceptual paradigm is important to focus properly on what consumer favor. Such preferences are related with quality, performance and features.
Community relationship: Unilever is entirely liable to maintain strong relationship with their customers. Their incorporated CSR activity is engaged with their stakeholders. Therefore, it is supportive to take account customer feedbacks. In 2010, Unilever has been commended for their living plan on sustainability. Stakeholder’s relationship is maintained through strong communication on social network platforms too.
Innovation: as stated by Vila, Bharadwaj and Bahadir (2015), innovation and improvement on marketing strategy is important during uncertain economic environment. Such environments rose due to new consumer frugality and rapid globalisation. In these cases, company culture and value should be criticised based on identified stakeholder’s requirement. In order to stable business stability during such environment, Research and Development (R&D) is maintained strongly as infrastructural components. It is creative methodology, which is highly acclaimed within the market.
Major stakeholders: Within an organisation, stakeholders are referred to a group of individual who have proper interest with the business operation. In Unilever, there are two types of stakeholders, which are external and internal. As a multinational business organization, they have wide range of stakeholders (unilever.com, 2017). Their internal stakeholders are managers, employees and owners. In the other hand, external stakeholders are British Society, suppliers, Governments and Creditors.
Based on the identified capabilities of Unilever their competitive analysis can be demonstrated through the support of SWOT analysis.
|Threats are visualised in case of demographic factors. Many Time consumer decision of product purchase is dependent on cost.|
Competitors are using innovation on production matters. These are major threats within the organisation. Patent regulations much time create restriction within technological application. Sometimes organisation keeps their focus on strengthening business all over the world. Such focus many time affecting their business operations related to environment related regulation.
Table 1: SWOT analysis of Unilever
(Source: Solomon, 2014)
This SWOT analysis table will be helpful to rationalise competitive conception on marketing application.
Nestle is another multinational consumer goods company. As per recent report, they are the major competitor of Unilever within UK. Both companies are properly focused on customer relationship management on the matter of wellness and health. However, Nestle not only focused on consumer needs, they are also focused on corporate wellness. Corporate wellness group are responsible for supporting promotion of nutrition value. As per current scenario, Unilever is facing major threats due to consumer choice and technical advancements. Therefore 9ion such cases Nestle is one-step forward than Unilever.
Competitive factors are also dependent on achievement of objects related to stakeholder expectation.
In case of employee, safety program implementation is a primitive objective.
|In those cases, safe working environment and proper compensation is employee expectation.|
|Unilever global garner has gain 110000 like within six month at face book (Facebook.com, 2017).||Career growth opportunities and sustaining working atmosphere is manager expectation.|
|Profit margin consistency||Here owner growth is related with long-term company growth.|
|The company obtains fair trade certificate.|
Long Term business partnership retention is supplier’s expectation.
|Sustainable living plan is applied||To maintain corporate social responsibility|
|Profitability margins steadily rise over recent years||As per creditor expectation, efficient management maintenance should be operated in a structured manner.|
Table 2: Strategic objective based on Unilever’s stakeholder expectation
(Source: Brower and Mahajan, 2013, P.313)
Therefore, it has been visualised that marketing trends and structure of Unilever group is based on stakeholder expectation and essential components of marketplace. Through proper recommended outline within the organisation can be supportive to maintain competitive advantages. Organisation need to observe Nestle strategies on nutrition promotional strategy too. This is required to structure more advanced marketing strategy implementation within the organisation.
In Unilever, future development strategy is aimed to create sustainable business environment through cooperative support of collaboratives and market shareholders. In order to realise such visibility, long term strategy need to be incorporated on branding. Such recommended strategic approach will be supportive to elevate company position within global market.
Such future vision can be demonstrated through following outline.
Growth on business: it will adopt margin, sales and increase capital efficiencies.
Well-being and health improvement: in order to maintain competitive advantages, this is the major criteria at all level. Here focus need to be paid on hygiene and health sector.
Livelihood option enhancement: Workplace safety and operational policies will be modified for creating inclusive progression.
Environmental impact reduction: water resource consummation need to be maintained. Waste management policies should be maintained for stable sustainable sourcing process.
Therefore portfolio recommendation will be structured based on above mentioned marketing and business criterions.
Choice of portfolio: this is required to maintain portfolio management through establishing prestigious partnership relation.
Brand innovation: focus need to be paid on innovation factors. That will enhance margins. As stated by Melton, Damron and Vernon (2017) Brand innovation will bge also supportive to enhance investment within digital marketing.
Cost management: Cost reducing matter need to be maintained along with giving proper focus on Zero based budgeting.
HRM: proper HRM policies will be supportive to enhance employee knowledge on present marketing advancements. In addition, empowerment policies will be supportive to eradicate employee dissatisfaction issues, while company will enhance and nurture employee talent. They will feel themselves as valuable resources (Boons et al. 2013).
In the site of marketing factors, market place needs to be covered up with all advancements to stable competitive advantages. Many times pre determined goals cannot be achieved due to rapid globalisation and consumer choice. In such cases, proper marketing conception needs to be practiced practically.
Future plan will be uniques based on three dimension.
Recommended strategy will be supportive where Unilever has set up their foot to cover up brand portfolio. Within the background of both socio economic platform, Unilever has the opportunity to create differences between well being and health of people. In addition, eco friendly technology within production and value chain model will be supportive to maintain market requirements.
T5hr5pough such innovative approach, all stakeholders and shareholders relationship will be retained for long term, basis by Unilever.
This paper has explained a robust explanation on organizational capability based on the incorporated marketing approach of Unilever, a multinational company, who are producing consumer goods since 1930. External and internal market environment is conceptualized based on the resources, community relationship, innovation capabilities, supply chain management and brand sustainability. Marketplace identification is required to maintain business conception within all situational constraints. Organization is facing major difficulties on strategic application due to rapid globalization and competition appertains. Therefore, proper technical advancements need to be applied through giving employee training on required advancements. Branding portfolio need to be operated with required principles as a unique term for gaining sustainable business environment.