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QUESTION 1 Marketing plays most important role in the present era as every organization carries outoperations in the market where competition level is quite high. Further, marketing plans arebeing prepared with the help of which business can easily operate in the market (Roberts andBerg, 2012). Each stage of marketing planning process is crucial and it supports inaccomplishing overall aim along with objectives of the business. At business level marketingplanning consists of various stages which are:Marketing audit: It is one of the major stage where critical review of total marketing operationstakes place. Further, it supports in evaluating marketing activities of firm and marketing plan ofbusiness are compared with actual marketing performance of enterprise. This stage is crucial forbusiness and supports in enhancing overall performance of company in the market where largenumber of opportunities can be grabbed easily (Rosenbloom, 2011). Marketing audit takes intoconsideration internal along with external marketing environment of business where internal oneinvolves resources such as human, technological etc, state of new product development,marketing mix, customer relationship management etc. On the other hand, external marketingenvironment consider range of factors such as competitors, suppliers, distributors, marketstructure etc. SWOT analysis: It is also one of the key stage where business carries out SWOT analysis inorder to identify its major strength, weakness which are internal along with opportunities andthreats present in the external environment are identified so that company can easily survive inthe market for longer period. Through this tool overall strengths of business can be known alongwith weaknesses which may prevent firm from accomplishing overall objectives. Further,opportunities present in external environment can be known easily along with threats which canhamper business productivity. Marketing objectives: To achieve sales target every business enterprise sets marketing objective.It takes into consideration strategies objectives along with thrust. Accomplishing overall aimshas become necessary for enterprise and it is regarded as important part of fundamental planning.This factor considers the targets set such as to raise awareness in the market, increasing salesvolume, strengthening customer base etc. Marketing planning at product level
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