Factors leading towards successful marketing: A study of Wilkinson Sword’s shaving products

Published: 2021-07-07 00:11:44
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Executive SummaryThis marketing plan is for a company “Wilkinson Sword” which produce razors and other shaving products for men and women across Europe. The company wanted to do a marketing plan for the shaving products by hiring new and young people and making them the ambassadors of the company. These recruits will then, do the marketing of the products in the desired areas, following the marketing and corporate objectives of the plan. Furthermore, the company is a UK based company and has been in the shaving product industry for a long time. To increase their sales, they need a marketing plan, and new people will do it for them. To do this, first, the strategy was formed, that how to do marketing, what factors to be considered in it. These included PESTEL analysis, which reflected how the environmental and other factors can influence Wilkinson, and what measures to be taken to manage them. Then, SWOT analysis for the company was done, which gave an insight into Wilkinson’s strengths, opportunities, threats, and weaknesses.This analysis was done to make sure of all these factors before going into the market and presenting the shaving range. After these analyses, it was discussed, that how to apply this plan to be successful. For this, recommendations are made on analysing the 7 Ps of the marketing mix, Ansoff matrix technique is used as an alternative, and based on the marketing objectives, the results are discussed applying these factors. These factors influence marketing, and assumptions are made if the company follows the steps, its marketing plan can be successful with it. Then, the budgeting of this marketing plan is discussed. Wilkinson Sword had a £5M budget for their marketing plan process and other activities. It is allocated wisely in the project, and concerning that, sales forecasting has been done. It gives an overview of the steps to be followed, to achieve the maximum sales results. In the end, academic skills are discussed which have been increased by this method, and what turns out to be the factors which can lead towards successful employability. Hence, Wilkinson Sword has a vast product range which can be influenced if they try to follow to 7 Ps strategy to market their products in the market.PHASE ONE: GOAL SETTINGMission StatementWilkinson Sword is a brand, which is owned by Edgewell Personal Care. The type of products in Wilkinson Sword are razors and a different kind of personal care products. Its origin is from London, and they serve the customers of Europe. “We will succeed through focus, in-depth innovation and agility, providing our customers and consumers with the best possible solution” is the mission statement of the company. Wilkinson Sword focuses on the best possible outcome to provide their customers and consumers, with innovation, swiftness and focus. As Wilkinson Sword is a brand of Edgewell Personal Care, they are also aiming to the same mission statement. They focus on providing the best shaving products with efficiency, quality, rapid customer response and marketing of the brand.The Scope Of OperationsWilkinson Sword has redesigned their razor systems, with introducing more range of razors in the market. Their variety of product lines in the market of household utilities, where they have a vast array of products. Back in the 19th century, Wilkinson Sword produced guns, military weapons, typewriters, scissors and motorcycles. Which, however, is not in their product line now. Now they are focusing on the production of razors and other personal care products to serve the market efficiently. For this purpose, marketing of a product is essential. Every department in a company needs to run in a creative manner, to achieve their desired goal/objective. Department connectivity is a critical factor in this regard. Wilkinson Sword has intended in providing a detailed budget plan to meet the marketing plan they desire.Product/ServiceThey operate within the range of razor which includes a 5-razor blade (Hydro 5), 3-razor blade (Hydro 3), 4-razor blade (Quattro), other products like women shaving products, and batteries. They also have products which are made for only one country like Tech 3 sensitive which is available just in the US, Tech 2 beauty; for women of US.Primary Customer/MarketTheir primary customers are all the residents who use shaving products as a household item in UK. Household stores, grocery shops, medical stores are the market they place their product. Furthermore, to achieve their desired requirements of the marketing plan, markets are selected to implement the outcomes. A Business-to-Business and Business-to-Consumer approach is set upon the company. Wilkinson Sword has men and women personal care products like shaving creams, razors, and beauty products.Geographical RegionsThis market includes all men and women who use razors or other products, as a household item across Europe. London being the headquarter of the brand, they serve across the UK as a primary market and have segments related to their products.Corporate VisionDepending on the scenario shown above, Wilkinson Sword is now aiming towards increasing the marketing of their shaving products and creating a marketing strategy, where they will hire new and young people. These new and young employees will be trained according to the marketing i.e. the younger audience and try to build the brand name more strong. Then, they will make these young people become the promoters of the company, who will promote/market their products.Corporate ObjectiveWilkinson Sword is targeting to increase their overall profit 10% at the end of the year, to improve their market share up to 5%, within the countries of Europe. Wilkinson Sword needs to have marketing plan where they will achieve the results by changing the dynamics and hiring new and energetic young people to be the brand ambassadors for their products. To make, the desired annual profit, marketing plan needs to be formed, which will help them increase their market share. The vital issue here lies that the senior management and the directors respond positively towards this marketing plan. Hiring new people and putting them the brand awareness program, can be helpful in achieving the objective in the discussion. However, every company tends to have a goal to maximise profit. Some go for in-house development approach, while some go for marketing techniques.Marketing ObjectiveThe purpose of marketing the product/brand is to, introduce the concept of shaving products and how they can be helpful. In the past, the amount of marketing done for the product line was not enough, because they have a long list of product to offer. With the modern world, the company has a lot to provide their customers, which needs to be done by marketing. Here, the objective of Wilkinson Sword lies only in how to market their products using new people. For that purpose, this study includes a PESTLE analysis, which will discuss the political, social, economic factors in the study. PESTLE analysis will help identify the environment of UK and Europe where Wilkinson Sword is going to implement its marketing plan. Then, SWOT analysis will be done where the strength, weakness, opportunities, threats of the company will be discussed. Based on that, analysis of the external and environmental will give an overview of Wilkinson Sword’s strengths and weaknesses that how they were before and how they will be moved to a positive side by doing marketing with young people. Furthermore, Ansoff Matrix which is a description about the market and its products will be implemented, which will tell about the best profitable market and products to choose. After the analysis is done, policies can be formed to elaborate, what and how it will be achieved and what processes to go through. Description of 4-Ps and 7-Ps will be discussed in the strategic phase. How and in what context they can be useful to make a marketing plan successful.PHASE TWO: SITUATION REVIEWPESTLE AnalysisA PESTLE analysis is a multi-factor approach to assess the important forces to understand the strategic orientation of a company more easily (Slack, 2015). It also helps in making informed and careful decisions about activities of the organisation. PESTLE analysis includes six factors: Political, Economic, Social, Technological, Legal, and Environmental. As a way to structure environmental factors, PESTLE is used to help a company analyse how external environmental factors affect an industry (Slack, 2015). It also gives an overview of the Microenvironmental factors that influence a company in decision making. The external factors also help a company, to focus on long term goals and to choose a continued business innovation and investment strategies.Political factorsPolitical factors include all aspects, how and to what level government take part in the role of the economy. It can include: government policies, political stability/instability in overseas markets, foreign trade and tax policies, labour and environmental laws, and trade restrictions (Mohammad, 2015). These factors when linked to Wilkinson Sword products, will have impacts when a product is to be imported to another country where political implications are not good. The company will face having negative impacts due to this reason. While, positive impacts can enhance the marketing of the company, and also other factors like cheap labour, easy government policies etc. (Mohammad, 2015).Economic factorsEconomic factors have a specific influence on how an organisation is doing business and how profitable is a company. These factors can include economic growth, the rate of interest and exchange, inflation/deflation and so on. These factors are further divided into macro and micro-economical elements. Macro-economical factors include the management demand in any economy. When this happens, the government uses interest rate control, taxation and expenditure policies as ways to control these factors (Bahadir, Bharadwaj and Srivastava, 2015).While, micro-economic factors depend upon the way people spend their income, which in result have a huge influence on B2C organisations. Economically, Wilkinson Sword will be influenced when they have to introduce their product globally and will face deflation or inflation. This will get a positive or negative impact on the marketing strategy of the brand. This can also impact if there is higher tax rate in a country on shaving products, the brand will be affected because of bad economy. Referring to B2C approach, it makes a huge impact when you get to know that the B2C market for shaving products is not well running (Bahadir, Bharadwaj and Srivastava, 2015).Social factorsSocial factors, also known as socio-cultural factors, involve the norms and attitudes of a population. These factors can include age distribution, population growth, health factors, career attitudes and so on (Bahadir, Bharadwaj and Srivastava, 2015). These factors are of primary interest as they affect directly on how marketing companies understand customers and influence them. Social factors included in our plan have a significant impact because when a person is introduced to shaving products, they need to know about the product to use it. It is a complex product. Age, region, social and cultural implications are imposed on Wilkinson Sword to sort the problem out.Technological factorsTechnological factors include the innovative approaches to the technology, that affects the operation of the industry and the market positively or negatively (Hanssens et al., 2014). It is enhanced by research, automation and the awareness of technological factors that a market must have. Technology is changing rapidly, and it can be affected by introducing new ways to place a brand, new communication ways and new ways of distribution (Hanssens et al., 2014). For example, Wilkinson Sword razors are introduced in a small country of Europe, where people are not aware of the innovation in shaving razors. The brand will not be able to progress there, and will ultimately have an impact on the marketing plan and strategy which is going to be put forward for that plan. Moreover, people who are going to be hired to market shaving products don’t know about the technology of shaving products of Wilkinson Sword.Environmental factorsEnvironmental factors have arisen not more than the last fifteen years. These factors became important, due to lack of population targets, raw materials, businesses running on ethics and sustainability (Hanssens et al., 2014). Environmental factors are influenced because of the surrounding environment. A certain type of businesses, e.g. farming, agriculture and tourism are mostly affected by it. Global climate change, weather, geographical location, etc. are the factors included in it. Category of Wilkinson Sword’s shaving products does not get affected by environmental factors but can have an impact if there is no agenda on target population for marketing, environmental conditions to hire new people are bad.Legal factorsLegal factors include advertising standards, consumer rights and laws, product labelling, health and safety of people/products. Legal factors tell a company what is right and wrong to make a thriving trade legally. This issue needs to be in deep consideration because every country has their own rules and regulations. Companies cater the internal laws which are within the state to be maintained, and external laws which a country imposes on them. Legal implications of Wilkinson Sword maybe to, formulate a marketing strategy which does not obstruct a legal issue in a state. Racial advertising of celebrities in shaving products, explicit content, billboard designs, and other factors can have a substantial legal offence on marketing plan of Wilkinson Sword.SWOT AnalysisSWOT analysis is the most common technique used by business bodies; it is also used by non-profit organisations and in some cases by individuals for their assessment. It is used to measure the products, projects and initiatives taken by the company. SWOT is comprised of the strengths, weakness, opportunities, and threats. A company made a detailed method to resolve the problem they would face in future (Deeley, 2014). Here, Wilkinson Sword is preparing a marketing plan for their shaving products and will hire young people to make the marketing of their shaving products. So, SWOT analysis will be done based on the marketing plan which is to be implied for it.STRENGTHSWEAKNESSES(Competitive edge of a company)(What to be improved & avoided)OPPORTUNITIESTHREATS(Trends/factors leading to success)(What can threaten company’s success) Strengths of an organisation are the resources and factors that help in achieving a perfect outcome. It can be a competitive advantage a company posses, regarding other competitors (Deeley, 2014). The type of market is a company in and what does a company do better than others. Here, Wilkinson Sword has the advantage that they are ancient in the market and people know about the product. The company don’t need to image their brand, so this will help them when an individual goes to a customer and tells them, I am from Wilkinson Sword. Another factor is, Wilkinson Sword has a wide range of shaving razors, so for a marketing initiative, the company market a wide range of blades which in return will make a good impact on the customers.Weakness is what a company is not good at. Areas where a company does not have a competitive edge and areas which need to be improved (Bohari, Hin and Fuad, 2017). Every company focuses on the options which can be added to enhance the deficit. Wilkinson in this regard does not have what it takes to be a good marketing company. That’s why they are going to hire new people to market their product. Having a good brand is not all. Making a good marketing plan and following it is what makes a brand stand tall. Shaving products are one of the products which are used every day and Wilkinson Sword needs to be good at the marketing of the product to achieve the level.Opportunities for a company are the factors where they can do more things. Strengths help a company, make excuses for themselves. Wilkinson Sword has a significant opportunity to go global and market their shaving range to the areas, where they have no product placed. As told before, Wilkinson Sword has 5-razor, 4-razor and 3-razor blades which gives them the marketing edge and opportunity to make a marketing approach to increase their revenue. Their products are their opportunity to make them a successful brand.Threats of a company are the internal and external factors that influence the overall base of the company. Referring to risks, they can be economical, legal, social which can impact a brand (Li et al., 2016). It can also be internal threats where an employee leaks out the secrets of a company to a competitor. As Wilkinson Sword is located all across Europe, they need to eliminate the taxing procedures, legal issues, analyse the economy of a particular country before putting the brand there and making a marketing method. Labour cost can also be a threat. Like hiring new employees for marketing, and they demand a high wage can also influence the product they are going to sell.To better analyse how the customers/general public feel about Wilkinson Sword, the paper includes a questionnaire, which will help in getting feedback from the customers and making the desired plan according to the input given. This questionnaire was filled by 50 different general customers in a small shopping mall of London, and the results are unbiased (appendix 4). In this task, cost, quality, design, what people think about the shaving range of Wilkinson Sword, and how much they have interacted with the brand’s product line. By conducting this survey, it will help the people hired for the marketing of the shaving range products, to better analyse the market and create strategies according to the results generated to better understand the market needs.CSF and MAFFor better understanding the SWOT of Wilkinson sword, Critical Success Factors (CSF) are to be analyzed for the company. It means that what factors will lead to the generation of developing goog customers. CSFs for Wilkinson sword are the leadership attributes of the higher management, which are in business from quite a long time. The planning done by the management is also the attribute leading towards the success of the company. Moreover, customer relations which are built by the company from quite a long time can also be considered as a success factor.Understanding the Market Attractiveness Factors (MAF) are essential for Wilkinson sword in the process of identifying strengths and weaknesses. For Wilkinson sword, it is important that the company understands that what market growth rate it will be after the implementation of the marketing plan. Pricing trends, which should be matched with the market i.e. if the buyers power is less, than the pricing should be at an affordable rate to be able to increase sales. The direct competitor of Wilkinson sword is Gilette, which has gained a lot of attention by the market in Europe and UK. Understanding the market strategies of the competitors is also important to address the needs of customers and what the competitors’ strategy is in this regard.Ansoff MatrixNew MarketsMARKET DEVELOPMENTDIVERSIFICATIONExisting MarketsMARKET PENETRATION PRODUCT DEVELOPMENT Existing ProductsNew Products Ansoff matrix is a mixture of market and product strategies which help the managers and executives to analyze their current and future strategies. Ansoff matrix includes four strategies i.e. market development, product development, market penentration, and diversification. The matrix identifies that when a company is serving existing products in existing markets, there is a market penetration. Market penetration is achieved by lowering the prices of the products, increasing sales promotion, or acquiring a rival company to work as one parent company. Then there is a situation where existing products are being introduced in new markets, and this strategy is known as market development.Market development can be achieved by placing the products in specific segments, moving towards any foreign market, or placing the products to a new segment than the previous segment was being served. Market development is implemented by a company when it has any unique product in the product line, the customers are turning to be profitable, and the company is using economies of scale. Market development is usually achieved by those companies, which are in business from a long time. product development occurs when a company is trying to introduce new products in the same market. Developing proper research and development in the company helps in achieving new products. It is also considered a successful strategy where a company joint ventures with another company, to use their products in the operations. Diversification, being the most risky strategy includes development of new products and markets. A company tries to increase its market share by developing new products for a whole new market. Diversification might be minor changes in the existing products, matching the needs of the customer or a whole new product for a new product which is different from the existing products.In marketing, Ansoff matrix helps when a company is considering to make changes in the business. As Wilkinson sword is trying to recruit young people in their business to become ambassodors for the young market to cater, the best option for Wilkinson sword might be the market development. As the aim of the marketing for the company is to attract the young customers towards their shaving products, it is best that the company uses the market development technique. It will serve the purpose of achieving market growth by using the huge shaving range products and displaying them to the younger audience.PHASE THREE: STRATEGY FORMULATIONBased on the description portrayed above, regarding SWOT and PESTEL analysis made on Wilkinson Sword’s line of shaving products, the strategy is formulated, which will help in making the task more comfortable and efficient. The hiring process of young men and women will train them, how to implement the strategies in the market and make the plan for the shaving range to understand the company better, what we have to do.7 Ps Of Marketing MixFor this purpose, the 7 Ps of the marketing mix is implemented. 7 Ps are a set of marketing tactics, which a company acquires to satisfy their target customers (Bull et al., 2016). They vary from the internal and external environment. The product, Price, Place, Promotion, People, Processes, and Physical evidence make up 7 Ps of a marketing mix.ProductThe product comprises of what a company is selling, i.e., their advantages, benefits, and features that a customer can get by purchasing your product/service. When a company wants to have marketing process, they keep in mind about the functions, a customer needs or wants. It can be regarding styling, quality, accessories, and repairs linked to the product. For more efficient way, research and development are informed if a company needs to develop new products (Bull et al., 2016). Already, Wilkinson Sword’s range of shaving product is enough which can give a go-to marketing plan for the brand. Improvements can be made in design, packaging, and quality of the razors before the marketing process is initiated.PricePrice is the pricing strategy built for the product/service and the way it will affect the customers. In this part, the company makes assumptions on the competitors’ market price and how much the customer is willing to pay for the product. Payment methods, profit margins, and other linked costs are measured. Price skimming is the strategy, which Wilkinson sword should use, where they will place their shaving products in the market on a lesser price than the competitors. Due to lowering the product’s price, it will help in sales generation and customer retention.  PromotionPromotion includes the activities a company makes to make a customer aware of the product/service, which includes advertising, sales techniques, direct marketing, and promotional activities (Bridgstock, 2009). These tactics can be helpful for Wilkinson Sword, as their prime focus is on marketing, and promotion can be a good option. Making billboards about the razors with celebrity endorsement, pitching discount sales on weekends, and putting up free shaving units at public places (malls, parks etc.). If a customer is buying five razors a time, one blade can be given to the customer for free to increase the level of satisfaction for the customers. PlaceThe place is the positioning technique, where a company places its product and service to be easily seen, distributed, and sold (Bridgstock, 2009). It is essential for a company to make sure, customers can easily access your product in the market. If there is a mall in the centre of a city, Wilkinson Sword’s razors need to be there, because more customers will visit there and see the whole range of blades there. Making small posters for the place, on which razors are displayed can be useful, in placing and marketing process. Filling up shelves with the flagship shaving products of Wilkinson sword is the best placing strategy for the company. PeoplePeople are the staff of the company, including the owner itself. Training the employees, recruiting the right people can make a change (Cottrell, 2015). Creating excellent customer service creates a positive experience for the customers and helps in marketing the brand (Cottrell, 2015). In return, customers can be referrals for your company, by telling others to buy your product. As Wilkinson are aiming in hiring new and young people for the marketing plan, they can be successful by training them and providing them all the factors that help them become the person who can satisfy the customer quickly when in the market. Under this heading, new and young recruits which will be the advocates of Wilkinson sword’s changing culture are the main focus of the company.ProcessesProcesses include the steps or stages involved in the delivering the product to the customer. After buying, the service given to the customer is integral in this context (Cottrell, 2015). The customer should be given complete knowledge about where and when the razor (he/she is buying) was made, what is the origin of the blade and quality of the razors. To satisfy the customer, post-purchase services should be maintained. This is also included in the marketing plan of the shaving product range. Physical evidencePhysical evidence includes what physical interactions a customer faces when interacting with your product/service. It can be the packaging process, design, and environment from where he/she is buying (Belvedere, 2014). Wilkinson’s razors need to plan a creative packaging method to create their razors distinctive from others. Making attracting colours, making sleek and firm design of razors is a significant part. When you’re explaining using razors to the customer, you need to ensure it is safe and healthy. An effective marketing plan is made by the 7 Ps discussed. Now, when recruits market the shaving products, they need to implement these points before going into the market, for a practical analytical approach. This is the primary strategy formed by the marketing plan.Integrated Marketing Communication (IMC)Another strategic part of the marketing plan is Integrated Marketing Communications (IMC). It is a process, which creates a combined and seamless experience of customers to interact with the brands (Belvedere, 2014). In this process, all the aspects of marketing communication are interlinked, i.e. sales promotion, advertisement, direct selling, and public relations. Their methods and tactics are also aligned to work as one unit to achieve the desired outcome. This process ensures all the marketing strategies are linked, regarding communication, to give the customer the best.Wilkinson Sword’s objective here is to make a successful marketing plan for their shaving products, by hiring new and young people. Before implementing, they need to make the new employees, aware of the marketing strategies, and that they want them to be the brand advocates to impose it to the customers. If a communication gap is left behind, the reason for its implementing is finished. The strategy can be formed to differentiate the shaving products, from its competitors. It can help with clear instructions, that why the company is forcing to sell. Differentiation can be regarding the quality of razor blades used in it, cost-effective razors, and innovation in shaving products. This also needs to be communicated entirely to the sales team, which will be set forth to make the marketing process in order.Making television advertisements, banner ads on social media, billboard designs, publications on public spots, and on newspapers about the flagship razors, can be useful. This will involve a detailed process of interacting indirectly with customers to fill the communication gap before the shaving products are placed on the market. Wilkinson’s razors have been on the market for a long time. But, no effective marketing has been done to let the customers know about it. Letting customers know that an old shaving range of razors is now back in the market can bring change. This will also fill the gap, which was a long time ago.Next, persuading customers to behave about a sure thing. Getting Wilkinson’s name on the jersey of any team of Manchester United can help a customer look into any product of Wilkinson. It will make the marketing strategy secure, and make the overall plan stand tall.Further plans to take up the marketing objective will include Ansoff matrix approach. It will help to justify and explain the necessary condition of the market and products of Wilkinson Sword. Ansoff matrix explains, existing demand and existing products will result in market penetration, Wilkinson Sword needs to make a strategy where they are already in the shaving products market, and also have old products there. This can be London, as it is the headquarter of the brand. Then, existing demand and new products, result in new product development. Instead of launching new products in new markets and failing there, Wilkinson can instead launch new razors into the market they already exist in. New products, existing products can result in new market development. This involves a risk management process. Wilkinson can aim at creating new markets when going global. They are doing this presently, as they are going to new markets in Europe, and developing new markets. The most critical stage is where a company produces new products and new markets. This results in diversification of market and product/brand both. Making new products and markets will help Wilkinson become globally strong because each country accepts a different kind of products.The marketing strategy of Wilkinson can additionally be improved by adding Ansoff Matrix in it. The objective of marketing discussed in this context has been detailed above which will help the Wilkinson in developing their marketing plan, about the shaving product range. Recruits should also be advised to follow the above-told strategies to make a valid strategic plan.Following the detailed plan discussed, Wilkinson Sword’s product can be successful in the market within the next year and let the recruits follow the strategies told can make a robust approach. Wilkinson Sword needs to make a plan to hire the individuals they desire, set the criteria for hiring, make proper remuneration to make the hiring process successful. SWOT analysis done previously will have the company when and how to make the adjustments they need before going into the market. It will decrease the effect of failure, as proper assumptions and forecasting are done before launching the campaign. An appropriate plan should be made per the environment discussed before, so that the risks are eliminated when starting the attack, and introducing the shaving products in a new region or country.PHASE FOUR: RESOURCES ALLOCATION AND MONITORINGAfter all the plans and techniques have been discussed, now comes the part where the budgeting and forecasting are done for Wilkinson Sword Inc. It is mandatory to be ready and plan the financial side of the marketing process. Here, balance sheet until April is discussed (Appendix 2). It shows that Wilkinson Sword has a budget of $5M, from which they can start up their business. Assets, land, inventories, and other equipment are the assets of the company for the purpose to make a trade stand up (Appendix 2). Liabilities include the short and long term debts taken by the company, taxes, the capital stock, stockholders’ equity share, salaries and wages of employees, and the amount which is to be paid to the persons in relation with the selling and purchasing of items. All the description can be found on the balance sheet listed in the Appendices (Appendix 2).After that, a complete income statement is formed, which tells about the expenses, profits, areas of revenue, areas of costs to be bear by the company and interests company have to pay. It says about the profit and loss of the company (Appendix 3). Travel costs, salaries, debts, amortisation applied, insurance, interests, training programs expenses, rent expenses, and others are described in the income statement made below. It also tells about how Wilkinson Sword will manage a £5M budget for it, and the company will maintain it, both in costs and sales they achieve.Sales forecasting is also done for the purpose to follow the objectives and procedures, to make it a successful marketing plan (shown in Appendix 4). As the company is going to be new in some countries and regions, they have to follow a sales projection, to be able to achieve what they want. In context to that, the graph of Wilkinson Sword’s sales forecast tells that, the market share is to remain constant, and at the first year, company’s operating income will be a loss.As, every company comes from a scratch at first and with time, they grow. Operating income tells what income is earned before the taxes being applied. At first, they need to achieve a break-even point, to make it revenue for the company (Appendix 4). More sales, more profit, this makes it very simple that at the start, the company won’t get any kind sales. But, annual sales projection tells that, the sales will increase, as the operating income increases. Market share remains constant, which can be a benefit if this happens. At the third year, operating income will match the market share, which can be controllable, because, at that year, Wilkinson will be earning good in the market, and in the next year, sales will increase more, and the operating income will also increase. This gives an overview, about how to manage and follow the marketing plan which, is in the discussion.Now, keeping all of these projections and forecasting in mind, the implementation of the marketing plan for shaving products of Wilkinson Sword, will be to make an initial hiring process for individuals. The young people will be hired, and they will be the marketers of the shaving range products of the company. Once this is done, then comes the stage where they are trained in the products and markets. Complete knowledge about the products will be given to them. Before going into the market, techniques discussed before (SWOT & PESTEL) will be given to them, which will help them in segmenting the market.This will ultimately result in the proper marketing of the razors and will increase the sales. Product, price, people, and placement of the shaving products will be discussed with the new people; it is better able to train them. Sales forecasting will be able to help the company, measure what is achieved now, and what will be performed in the future.  The company can arrange daily assessment sessions for the marketers. Creating focus groups and filling of questionnaires will make a better picture of what a market wants from Wilkinson, and how to deliver them.Moreover, the questionnaire was filled in by the general customers of a local shopping mall, where the sample was 50 unbaised customers. The questionnaire consisted of six questions based on the behavior of customers towards the shaving products of Wilkinson sword. The questionnaire (Appendix 4) shows the results of each question that what the customer think about it. The results of each question can be seen in the appendices section (Appendix 5-10).CRITICAL REFLECTION ON ACADEMIC SKILLS AND EMPLOYABILITYTwo of the main issues of employees today are looking for skilled employees and training them (Belvedere, 2014). The difference between skills required by the employees and the one they already have is mostly known as the skills gap. This is of real concern to the hiring managers and owners looking to hire proficient employees. Employers prefer to hire people who are already competent and ready to work. The employers still are willing to provide the specific type of training to eliminate the gap. Academic skills required by some of the jobs are low, the employee needs to be academically strong to produce high results. Theoretically, new hires can learn, listen, and read the instructions and eventually implement them. Employees need to be able to respond quickly regarding, oral and writing information.After this study, academically, a lot of knowledge has been gained. The ability to write, read, gather intelligence, thinking creatively, problem-solving approach, and ability to make a quality decision has been improved diversly (Belvedere, 2014). Detailed knowledge was gained, on how to gather information about the topic in discussion. Information gathering about the management skills and how to implement them in the real world efficiently, how to make a decision in the most bizarre scenarios.Practical implementation of a real market has improved self-confidence, honesty, motivation to work in corporate companies, and social skills have improved. It has helped me how to write a detailed study in future about any topic. An accurate reflection has been gained that, how companies perform, how they do marketing, how they manage the financial conditions, and how they hire new employees for the benefit of their organisation.The skills I have developed in doing this study has helped in getting a good job, with all the training I have gained during the process. It has helped a lot in making decisions about the industry, in which I want to enter. It will also help in getting employed, as I have gained knowledge about the market and how to get hired. What abilities should I have, what things to take in consideration? An essential part of academic skills gained is the self-assessment. It refers to the making of judgments about one’s learning process. It helps in deep learning.It helps in monitoring their performance, which gives them confidence and opportunity in learning a specific thing. It also helps in social and affective competencies, which improves motivation, interpersonal skills, and adaptability of an employee. These factors have increased mainly and learned in this study. Being able to self-access, I have gained and improved professional skills, which in the long term is an advantage for me. Appropriate feedback is also an essential part of learning, which has increased in massive amount in this study, it has enabled in the development of the accurate self-assessment.These factors can be a considerable influence on employability, because when you can judge yourself, that where you stand, is the point where you can be successful (Belvedere, 2014). It also makes an individual stand out, and make creative decisions. Employability can include attributes, knowledge, behaviour, and attitudes development. I have learned about this in the study and can influence directly. Therefore, Wilkinson Sword’s marketing plan has increased my motivation towards the market and make me realise my self as a professional individual. After the completion of the project, and study, it will help me get a good job because of these attributes acquired by the process and the learning generated.ReferencesBahadir, S.C., Bharadwaj, S.G. and Srivastava, R.K., 2015. Marketing mix and brand sales in global markets: Examining the contingent role of country-market characteristics. Journal of International Business Studies, 46(5), pp.596-619.Belvedere, V., 2014. Defining the scope of service operations management: an investigation on the factors that affect the span of responsibility of the operations department in service companies. Production Planning & Control, 25(6), pp.447-461.Blockeel, C., Drakopoulos, P., Santos-Ribeiro, S., Polyzos, N.P. and Tournaye, H., 2016. A fresh look at the freeze-all protocol: a SWOT analysis. Human Reproduction, 31(3), pp.491-497.Bohari, A.M., Hin, C.W. and Fuad, N., 2017. The competitiveness of halal food industry in Malaysia: A SWOT-ICT analysis. Geografia-Malaysian Journal of Society and Space, 9(1).Bohari, A.M., Hin, C.W. and Fuad, N., 2017. The competitiveness of halal food industry in Malaysia: A SWOT-ICT analysis. Geografia-Malaysian Journal of Society and Space, 9(1).Bridgstock, R., 2009. The graduate attributes we’ve overlooked: Enhancing graduate employability through career management skills. Higher Education Research & Development, 28(1), pp.31-44.Bull, J.W., Jobstvogt, N., Böhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., Lambini, C.K., Rawlins, M., Baral, H., Zähringer, J. and Carter-Silk, E., 2016. Strengths, Weaknesses, Opportunities and Threats: A SWOT analysis of the ecosystem services framework. Ecosystem services, 17, pp.99-111.Bull, J.W., Jobstvogt, N., Böhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., Lambini, C.K., Rawlins, M., Baral, H., Zähringer, J. and Carter-Silk, E., 2016. Strengths, Weaknesses, Opportunities and Threats: A SWOT analysis of the ecosystem services framework. Ecosystem services, 17, pp.99-111.Cottrell, S., 2015. Skills for success: Personal development and employability. Palgrave Macmillan.Deeley, S.J., 2014. Summative co-assessment: A deep learning approach to enhancing employability skills and attributes. Active Learning in Higher Education, 15(1), pp.39-51.Hanssens, D.M., Pauwels, K.H., Srinivasan, S., Vanhuele, M. and Yildirim, G., 2014. Consumer attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), pp.534-550.Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.Khan, M.T., 2014. The concept of’marketing mix’and its elements (a conceptual review paper). International journal of information, business and management, 6(2), p.95.Li, C.Z., Hong, J., Xue, F., Shen, G.Q., Xu, X. and Luo, L., 2016. SWOT analysis and Internet of Things-enabled platform for prefabrication housing production in Hong Kong. Habitat International, 57, pp.74-87.Mohammad, H.I., 2015. 7PS marketing mix and retail bank customer satisfaction in northeast Nigeria. British journal of marketing studies, 3(3), pp.71-88.Molnár, M. and Lendvay, E., 2016. POSSIBILITIES TO IDENTIFICATE ACTION POINTS IN ECONOMIC DEVELOPMENT OF LOCAL MANAGEMENT. Journal of Management, (1), p.28.Robinson, J.P., 2000. What are employability skills. The workplace, 1(3), pp.1-3.Slack, N., 2015. Operations strategy. John Wiley & Sons, Ltd.Song, J., Sun, Y. and Jin, L., 2017. PESTEL analysis of the development of the waste-to-energy incineration industry in China. Renewable and Sustainable Energy Reviews, 80, pp.276-289 APPENDICESAPPENDIX 1Wilkinson Sword Inc.Balance Sheetas of April 31, 2018AprilAprilAssets2018Liabilities & Stockholders’ Equity2018Current Assets:Current Liabilities:Cash & cash equivalents £780,000Accounts payable £485,000Account receivables £450,000Short term debt £345,000Inventories £495,000Wages and salaries payable £65,000Total Current Assets £1,725,000Income tax payable –Property & Equipment £1,700,000Total Current Liabilities £895,000Building £1,200,000Long term debt £2,956,000Land £375,000Other long term liabilities £691,000Total Assets £5,000,000Total Liabilities £4,542,000Stockholders’ Equity:Capital Stock £350,000Retained Earning £108,000Total Stockholders’ Equity £458,000Total Liabilities & Stockholders’ Equity £5,000,000 APPENDIX 2Income StatementWilkinson Sword Inc.as of April 2018RevenueGross Sales £4,000,000Less: Sales Returns and Allowances £150,000    Net Sales £3,850,000Cost of Goods SoldBeginning Inventory £495,000Add:Purchases £50,000Freight-in £12,000Direct Labor £80,000Indirect Expenses £14,500Inventory Available £651,500Less: Ending Inventory £250,000    Cost of Goods Sold £401,500    Gross Profit (Loss) £3,448,500ExpensesAdvertising £1,750,000Amortization £542,000Bad Debts £65,000Bank Charges £895,200Charitable Contributions £52,000Commissions £96,000Contract Labor £41,000DepreciationDues and SubscriptionsEmployee Benefit Programs £12,000Insurance £85,000Interest £2,300Legal and Professional Fees £10,000Licenses and Fees £18,000Miscellaneous £2,000Office Expense £87,000Payroll Taxes £1,200PostageRent £18,000Repairs and Maintenance £1,500Supplies £1,000Telephone £500Travel £200Utilities £700Vehicle Expenses £1,200Wages £1,800    Total Expenses £3,683,600    Net Operating Income-£235,100Other IncomeGain (Loss) on Sale of Assets £1,800,000Interest Income £230,000    Total Other Income £2,030,000    Net Income (Loss) £1,794,900 APPENDIX 4QUESTIONS Strongly Agree (1) Agree (2) Neutral (3) Disagree (4) Strongly Disagree (5)1.           Using shaving products is a daily part of my life.2.           I have used Wilkinson Sword’s razors in the past six months.3.            Design and Quality of the razor are essential for me.4.           Most likely, I will recommend Wilkinson Sword’s shaving products to others.5.           Before buying, it is essential for me to see the product in media (print, nonprint).6.           Wilkinson Sword’s razors are expensive than others. 

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