Table of Contents
Executive Summary ...................................................................................................... 2
R&D Company Overview .............................................................................................. 3
R&D Marketing Analysis .............................................................................................. 3
Overview ................................................................................................................................. 3
R&D Market Audit .................................................................................................................. 5
R&D SWOT Analysis ................................................................................................................................ 5
PESTLE Analysis....................................................................................................................................... 6
Competitor .................................................................................................................................................. 8
Objectives ....................................................................................................................... 9
Financial Objectives .............................................................................................................. 9
Marketing Objectives ............................................................................................................ 9
Market Strategies ........................................................................................................ 10
Target Market ...............................................................................Error! Bookmark not defined.
Target Audience ...............................................................................Error! Bookmark not defined.
Positioning ....................................................................................Error! Bookmark not defined.
Product ..........................................................................................Error! Bookmark not defined.
Pricing ...........................................................................................Error! Bookmark not defined.
Placement .....................................................................................Error! Bookmark not defined.
Promotion .....................................................................................Error! Bookmark not defined.
The organisation, Implementation, Control and Evaluation Process ................. 10
Organisation ..........................................................................................................................12
Implementation .....................................................................................................................12
Control and Evaluation ........................................................................................................13
KPI ................................................................................................................................. 13
Sales Projection ...........................................................................Error! Bookmark not defined.
Income Statement .................................................................................................................13
Notes: ........................................................................................................................................................ 14
Return on Ads Spend (ROAS) ............................................................................................14
Reference: .................................................................................................................... 15
Executive Summary
R&D is a home improvement company in the lifestyle and retail sector in the UK. R&D
started in 1969 and now has 300 stores and 27,000 staff, offering 40,000 products.
This marketing plan explored the role of R&D in the UK economy, by analysing the
company’s micro status through the SWOT framework and macro position with
PESTLE analysis, and the company’s direct and indirect competitors.
In the UK, there is a growing trend toward sustainable consumption, which presents
an opportunity for R&D to increase its market share and brand usage. This plan also
evaluates R&D's organizational objectives and long-term business goals, identifying
its current segmentation and positioning as well as the path forward. R&D must assess
existing and new business streams for a long-term growth strategy. The report delves
into the proposed marketing mix and strategy to achieve sustainable numbers in the
current and following fiscal years, as well as product extension and international
market expansion. Finally, organization, marketing plan implementation timeline and
budget, controls and evaluation process were developed, and the key performance
measurement for the objectives.
2
R&D Company Overview
R&D is a UK popular home improvement company that started in 1969 in an
abandoned cinema hall in Portswood Road, Southampton, Hampshire. A retail
company dedicated to providing products and services that help homeowners improve
their homes and create a living garden. R&D has grown into the United Kingdom’s
leading home improvement brand with 300 stores spread across the UK, with a staff
strength of 27,000, and offers 40,000 products both in the stores and online platform.
R&D has crafted a niche as a brand that offers a Do-It-Yourself (DIY), value-added
service model, with a mission of commitment to ensure a sustainable business, that
helps customers make eco-friendly choices in their homes.
R&D's vision is to
overtime put together inspiring project ideas, provide expert support and smart
solutions that provide a balance of comfort and practicality, and help customers make
home improvement decisions.
Market Analysis
Overview
The market for kitchen cabinets was anticipated to reach US$26.31 billion in 2023
and US$38.91 billion in 2027, a CAGR of 10.28% (Statista, 2023). The Market
Report Global (2022) states that the United States brings in the most money, but the
Asia-Pacific region is where the most kitchen cabinets are sold. This is caused by
rapid urbanisation, increased incomes, and construction investment. North America
and Europe are significant markets for kitchen cabinets. Because many individuals
desire contemporary bespoke kitchens (MarketReportWorld, 2022). In the United
Kingdom, kitchen cabinet sales are anticipated to reach $0.88 billion in 2023 and
$1.48 billion in 2027, a 13.22% yearly increase (Statista, 2023). According to the
Mordor Intelligence report (2022), the UK kitchen cabinet market is driven by the
residential construction industry, the demand for modern and functional kitchen
designs, and the customer desire for eco-friendly and sustainable kitchen items. The
market is fragmented by small and medium-sized suppliers and manufacturers.
Brexit, international competition, and the cost of raw materials have an effect on the
kitchen cabinet market in the United Kingdom. The kitchen cabinet market in the
United Kingdom is anticipated to expand due to the increased demand for new and
3
customised kitchen cabinet solutions and the use of innovative technologies in their
manufacture and design (MordorIntelligence, 2022).
Customer
Segmentation
•
Target Audience
Middle-aged or older homeowners: The majority of R&D's
customers are middle-aged or older homeowners who are likely to
own their own homes and have the means to invest in home
improvements.
Demographic
•
High-income earners: R&D's customers tend to have a higher than
average income, which makes them more likely to have the financial
means to undertake large-scale renovation projects.
•
Families: Families are a key customer group for R&D. They often
have a larger home and require more maintenance, which makes
them more likely to shop at R&D for home improvement products.
•
DIY enthusiasts: R&D customers tend to be DIY enthusiasts who
enjoy undertaking home improvement projects themselves.
•
Home comfort: R&D's customers value home comfort and
aesthetics, and are willing to invest in their homes to make them
Psychographic
more comfortable and aesthetically pleasing.
•
Environmentally conscious: A growing number of R&D customers
are environmentally conscious and are looking for eco-friendly
products and practices.
•
Purchase history: R&D's customers tend to make regular purchases
of home improvement products, indicating a high level of loyalty to
the brand.
•
Renovation plans: Customers who are planning to undertake a
renovation project are likely to be interested in R&D's products and
Behavioral
services.
•
Channel preference: Customers who prefer to shop online or in-store
have different needs and preferences, and R&D can tailor its
marketing and sales strategies to meet these preferences.
4
R&D Market Audit
R&D SWOT Analysis
Strengths
a. Strong market leader: R&D has been in operation for over 50 years, with its
unique selling point being a strong market leader with 55% of the market share
in the UK (Kunst, 2022).
b. Strong online and offline presence: R&D has over 300 store locations across
the UK, and an online presence through the diy.com e-commerce website, the
company has a strong store presence (R&D, 2023).
c. Staff strength and customer support: R&D has a strong staff of over 27,000
inclusive staff, that provides customers with support and service solutions
(R&D, 2023).
d. Strong charity involvement: R&D is involved with community-driven projects,
and collaboration with government and international organizations, all of which
place the company in a goodwill position (R&D, 2023).
e. Products and after-sales service: Customers can choose from over 40,000
eco-friendly products, comfort and practical projects.
Weaknesses
a. Legal issues: R&D have been in the news for post-Enterprise issues (Quinn,
2021) and unlawful dismissal (Employment Law Glasgow, 2015) that has
harmed the brand's image.
b. Global competition: Global players like Home Depot, and Homebase are in
fierce competition with R&D, due to limitations in brand differentiation and
services offered.
c. Negative e-commerce review and slow delivery: R&D has a poor online review
due to slow product delivery and products being overpackaged, which has
earned their e-commerce services a 1.9 rating (Trustpilot, 2022)
Opportunities
a. Improve delivery time: Through the incorporation of technology and agile ERP
in supply chain management, there is an opportunity to improve the supply
chain and delivery time.
b. Emerging market: The exploitation of emerging sustainable consumerism
among UK consumers.
c. E-commerce rating: Enhance the e-commerce platform to raise the rating.
5
d. Corner stores: Pilot testing the corner retail store to increase reach into the
inner community while providing customers with the same value as a standard
R&D retail store.
e. Sustainable Logistics: The introduction of 60 double-decker lorries that carry
more while emitting less pollution. Every day, approximately 5000 miles and
over 4500 kg of emissions are saved.
Threats
a.
Volatile revenue: R&D’s revenue in the last 10 years has been very volatile,
and even made worse by covid-19, which makes planning difficult (Statista,
2022).
b.
Independent garden centres: Several independent garden centres are
providing stiff competition through increased local marketing and improved
technology use.
c.
Change in customer behaviour: Changes in how customers to shop and
spend, as well as other changing consumer patterns, could jeopardize R&D's
performance.
PESTLE Analysis
Political Factors
Per the UK's Equity Act 2010, R&D has a flexible workforce of 60%; R&D employs a
diverse range of people, including students, people aged 45 and up, and those under
25 (Groom, 2015). Furthermore, raising the retirement age to 66 by 2020 will force
R&D to review its HR policies and develop new strategies (Osborne, 2020).
As a leading global brand and a strong retail market leader, with several commitments
and partnerships with government and corporate agencies on sustainable growth
through green loans and national security, R&D is actively trying to influence
government tax policy by requesting VAT on energy-saving products to be reduced to
5%.
Economic Factors
R&D is concerned about economic factors, as they can affect demand, costs, prices
and profits (Dvorský et al., 2020). High unemployment levels have decreased the
6
effective demand for many goods, leading to a decline in consumer spending. R&D's
revenue estimates for 2022 (Statista, 2022) show a positive contribution to the
economy, but an increase in interest rates and inflation rates will affect both R&D and
the consumers, leading to falls in consumption and investment (Dvorský et al., 2020).
Social Factors
R&D has adapted to the changing socio-cultural environment by designing eco-friendly
products and using green technologies. Their social responsibility is divided into four
sections: Diversity, Environmental impact, Ethical, and Community. Also, demographic
changes such as the ageing population and an increase in female workers have made
R&D review its employment policy and developed marketing strategies to retain older
customers, such as the diamond discount card.
R&D has also shown a strong commitment towards education, by launching a
nationwide job-done initiative to teach children DIY skills and educate both women and
men about DIY tools (Levy, 2010).
Technological Factors
Technology is a major environmental factor that has influenced the development of
R&D products and services. R&D utilises new tracking technology, decorating card
technology, and low-carbon technologies such as solar panels and ground source heat
pumps. They have also joined SEDEX, a web-based system that provides greater
visibility at all levels of their supply chain. Additionally, government legislations and
policies have a direct influence on R&D's performance. To devise politically correct
pricing policies, R&D sets reasonable prices for its products.
Legal Factors
Government legislations and policies have a direct impact on R&D's performance,
such as Kingfisher's code of practice and anti-bribery and corruption policies in line
with the Uk Bribery Act 2010 (Islam et al., 2021). To ensure ethical business practices,
R&D sets reasonable prices in line with the government control policy for market
monopoly (Pettinger, 2019).
Environmental Factors
In 2003, R&D signed a three-year partnership with BioRegional to become a One
Planet Living business (Little, 2011), with a commitment to a 90% reduction in carbon
7
emissions by 2023 (EndsReport, 2008). In 2008, they were awarded chain-of-custody
certification for both the Forest Stewardship Council (FSC) and Programme for the
Endorsement of Forest Certification schemes (PEFC). In 2003, the government
introduced a new strategy for sustainable consumption and production to minimise
waste and environmental damage, and in a memorandum submitted by R&D to the
committee trade and industry UK (Trade and Industry, 1999), recorded that R&D has
developed strategies such as QUality-Ethics-SafeTy (QUEST) to ensure that the green
policy is respected. However, they do not have the power to change the way suppliers
operate, as green purchasing policies vary between firms.
Competitor
Direct Competitor
R&D competitors are The Home Depot, Gibeller Grupo, Madeira, Home Base, Crate
& Barrel and Maisons du Monde, which offer the same lifestyle and retail products and
services. Although these companies have their headquarters in other countries, they
still pose strong competition to R&D in terms of revenue, physical presence, supply
and distribution centres, and online e-commerce presence globally; but R&D have a
strong edge in the UK & Ireland as it holds over 50% market share according to a
Statista (2022) survey, a strong market leader with corporate and government
partnership, DIY unique selling point (USP), and global brand that can influence
market policies.
Indirect Competitor
R&D’s indirect competitors are
Interior Designers
Interior designers are in indirect competition with R&D. By helping people spruce up a
house by offering soft furnishings such as cushions/blinds/curtains and they also help
with painting. This is similar to R&D’s do-it-yourself after-sales support, but in this
case, the interior designers are directly involved.
Gardeners
Another competitor is gardeners who customers have easy access to and can assist
with their garden while they spend time performing other tasks and activities.
8
Others are lifestyle and home improvement coaches, and environmental bloggers are
also an indirect competition to R&D’s DIY USP.
Objectives
The general purpose of the marketing plan is to increase R&D's market share by
deploying efficient advertising for the kitchen finance service for home improvement,
and exploring new geographical territories for the kitchen finance service.
These objectives are further broken down into financial and marketing components in
the subsections below.
Financial Objectives
•
Increase market share by 5% at the end of FY 2025.
•
Achieve YoY sales revenue increase of 5% in 2023, 8% in 2024, and 10% in
2025.
•
Invest in e-commerce platform optimization to accommodate omnichannel
marketing.
•
Invest in a data-driven process to improve conversion rate optimization, to
increase return on Ads spend on every £1,000 by at least ratio 4:1 every Fiscal
year.
Marketing Objectives
§
Increase unaided awareness of our brand among the total market from 55% to
70% by the end of FY 2026.
§
Increase brand loyalty among the total return users from 49% to 60% by the
end of 2026.
§
Conduct research and planning in existing R&D location outside the UK in FY
2024, to ascertain the location that can support R&D’s kitchen finance project.
9
Market Strategies
STP Analysis of R&D kitchen finance
Segmentation:
For the kitchen finance, the market is segmented based on:
Demographics: Age, income, gender, occupation, and family size
Psychographics: Lifestyle, personality, values, interests
Behavior: Past loan history, credit score, home ownership, and renovation plans.
Targeting:
Demographics: middle-aged or older homeowners, high-income earners, and
families who are looking to renovate their kitchens
Psychographics: homeowners who value home improvement and are willing to
invest in their homes, DIY enthusiasts, and individuals who prioritize home comfort
and aesthetics
Behavior: Individuals who have a good credit score, a history of paying their loans on
time, and are looking for financing options to fund their kitchen renovation projects
Positioning:
Affordable: with low-interest rates, flexible repayment options, and no hidden fees
Convenient: with a quick and easy loan approval process, online access to loan
account, and in-store support from R&D experts
Reliable: with a reputable lender, excellent customer service, and transparent loan
terms and conditions
Market Mix Decisions
Product:
The product component of the marketing mix refers to the product or service being
offered. In the case of R&D kitchen finance, the product is a loan that is specifically
designed to finance kitchen renovations.
10
Some product decisions to consider are:
Loan terms: Determine the loan amount, interest rate, repayment period, and any
additional fees or charges associated with the loan.
Loan features: Consider offering flexible repayment options, pre-approval, and online
account access to make the loan more appealing to potential customers.
Customer service: Ensure that customers can access in-store support from R&D
experts and have access to excellent customer service when needed.
Price:
For R&D kitchen finance, some pricing decisions to consider include:
Competitive pricing: Set the interest rate and fees at a competitive level compared to
other financing options available in the market.
Bundling: Consider bundling the loan with other R&D services or products to create
more value for the customer.
Promotions: Offer special promotions or discounts to attract customers to the loan.
Place:
For R&D kitchen finance, some place decisions to consider include:
Online channels: Offer the loan through online channels to make it accessible to
customers who prefer to apply for loans online.
In-store channels: Offer the loan through in-store channels to provide in-person
support and advice from R&D experts.
Partner channels: Partner with other home improvement or renovation companies to
expand the reach of the loan.
Promotion:
For R&D kitchen finance, some promotional decisions to consider include:
Advertising
Use targeted advertising to reach potential customers through channels such as TV,
radio, social media, and online ads.
11
Public Relations
Use public relations activities to generate positive publicity for the loan, such as
press releases, media interviews, and events.
Direct marketing
Use direct marketing tactics such as email marketing, direct mail, or telemarketing to
reach potential customers directly.
The organisation, Implementation, Control and Evaluation
Process
The organisation, implementation, control and evaluation aspect of the marketing plan
defines and outlines the project team, the process of carrying out the objectives,
monitoring for adjustment during the progress and assessment of the success or
otherwise after the project.
Organisation
R&D is a marketing-led regional organisation that markets its products nationally in
Ireland and the UK and foreign countries. Because the objective of this marketing plan
combines finance and marketing, the team to oversee the implementation and control
will comprise both the financial and marketing department, headed by the finance
director, change director, strategy and development director and customer and
marketing director.
Implementation
Marketing implementation with timeline and budget.
Table 3.0: Marketing implementation with timeline and budget.
Marketing Gantt Chart FY 2024
Cost Head
On-Air Advert
Printed Advert
Digital Content Creation
Press Release
Market Research
Total Expense
Media
TV
Brochures/Flyers
Social Media
Press Kit
Timeline
Q1
Q1
Q2 & Q3
Q1
Q2&Q3
12
Frequency
Full-year use
Full-year use
Weekly engagement
Budget (£)
200,000
70,000
300,000
30,000
10,000
610,000
Marketing Gantt Chart FY 2025
Cost Head
On-Air Advert
Printed Advert
Digital Content Creation
Total Expense
Media
TV
Brochures/Flyers
Social Media
Timeline
Q1
Q1
Q2 & Q3
Frequency
Full-year use
Full-year use
Weekly engagement
Budget (£)
200,000
70,000
300,000
570,000
Timeline
Q1
Q1
Q2 & Q3
Frequency
Full-year use
Full-year use
Weekly engagement
Budget (£)
200,000
70,000
300,000
570,000
Marketing Gantt Chart FY 2026
Cost Head
On-Air Advert
Printed Advert
Digital Content Creation
Total Expense
Media
TV
Brochures/Flyers
Social Media
Control and Evaluation
Control will precede evaluation, which will be carried out at the end of FY2026 to gauge
if the objective was achieved and if otherwise, should be reported, to guide the plan.
The control and evaluation flow for this marketing plan is detailed in the table below.
Table 4.0: Marketing plan implementation control and evaluation flow.
Control
Sales Review
Action Frequency
Performance Indicator
Meeting Quarterly/Annual Sales Report
Responsibility
Strategy & Development Dir
Implementation
Admin Expense
Operational Efficiency
Customer Satisfaction
Meeting
Meeting
Meeting
Survey
P&L
Quarterly/Annual
Quarterly/Annual
Monthly
Quarterly/Annual
Performance Report
Expense Ledger
Process & Expense report
Survey Report
Customer and Marketing Dir
Finance Director
Change Director
Customer & Marketing Direc
Annual
Income Statement
Finance Director
KPI
Income Statement
Income Statement
FY 2023
Total Revenue
412,393,140
13
FY 2024
433,012,797
FY 2025
467,653,821
Cost of Goods Sold
Gross Profit
123,717,942
288,675,198
129,903,839
303,108,958
140,296,146
327,357,675
5,549,870
2,549,870
5,272,377
2,549,870
5,008,758
2,549,870
100,000
100,000
610,000
100,000
100,000
570,000
570,000
8,909,740
279,765,458
55,953,091.6
223,812,366.4
8,492,247
294,616,711
58,923,342.2
235,693,368.8
8,492,247
326,508,428
65,301,658.6
261206769.4
Operating Expense
Admin
Salary
E-commerce
Maintenance
Market Research
Marketing
Total
Operating
Expense
Pre-Tax Income
Income Tax Expense
Net Income
*All figures are in £ Millions
Notes:
Income Statement
a. YoY sales revenue increase in 2024 is expected at 5% and 8% in 2025.
b. Operating expenses are expected to reduce by 10.3% in 2024 and 10.2% in
2025.
Return on Ads Spend (ROAS)
Fiscal Year (FY)
2024
2025
2026
ROAS (%)
674
760
820
ROAS is calculated by dividing total revenue by marketing budget.
14
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