MARKETING ESSENTIALS

Marketing Essentials



Table of Contents

Introduction2

Discussion2

Financials: Debenhams PLC (DBNHMS.PK, 2010)4

Business functions4

Marketing Mix7

External Factors8

Internal Factors9

Strategic Focus11

Porter's 5 Forces13

Idea for New Product Line15

3 Year Forecast and Budgets15

Conclusion17

Marketing Essentials - Debenhams PLC

Introduction

Marketing and management philosophies have been helping organizations create strategies and plans which have been tested in theory and hence are applicable on real life situations. These management philosophies can only be defined as a set of ideas that make up the best management practices, and can thus be standardized for others. Although these standard practices cannot cater to every organization out there, they have a true enough affect if the theory is correct. In this paper, I will be forming a marketing plan for the U.K based retail chain store Debenhams. It operates mainly in the U.K and Ireland, but has many franchise stores operating around the world.

 

Discussion

Debenhams is a public organization that is considered to be one of the U'K's beloved chain stores and is ranked as the longest operating clothing and goods retailer. It has nearly 100 stores operating only within the U.K, while there are many franchise stores opening around the world, most recently, in Pakistan. Debenhams generates annual sales of 1.3 billion pounds, putting it among the country's top five retailers. It was founded in 1778, and operated as mainly an independent company till the 80's, when a hostile takeover by the Burton group changed its face.

However, the company was soon “demerged” from Burton group, who changed their name to Arcadia instead. Subsequently, the now independent Debenhams is led by the renowned CEO Terry Green, under whose leadership Debenhams has performed well. It sells clothing as well as a wide array of accessories under a number of segments. The most prominent of these sectors are the health and beauty ones , Christmas, wedding services, womanswear, menswear, young fashion, food services, home, children and fashion accessories and so on. The store also has an online shopping portal which is highly reliable and has been used for the past few years by loyal customers.

Mission Statement

Debenhams' mission is to maintain a clear strategy that allows the organization to must into the future in a profitable manner. Its business functions are also designed to grow market share, and future goals include increasing the number of sales in existing customers and expanding to foreign markets. Debenhams has a clear direction as their mission statement, that of moving into new markets so it can maintain its position

as Britain's favourite store.

Financials: Debenhams PLC (DBNHMS.PK, 2010)

Business functions

Debenhams effectively manages its risks and opportunities by performing appraisals regularly that aim to examine the achievement of strategic and operational goals. The reputation of the organization is at stake since it has such close competitors such as Marks and Spenser's, Primark and Harrods. Furthermore, with the current business environment being as competitive as it is, there is a definite need for strategic decisions to enhance shareholder value. Risk management and internal control are two functions that are very closely formed in relation to strategic ...