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The Importance of Marketing Planning | Report

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Added on  2020-03-23

The Importance of Marketing Planning | Report

   Added on 2020-03-23

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Running head: MARKETING PLANNINGMarketing PlanningName of StudentName of UniversityAuthor Note
The Importance of Marketing Planning | Report_1
1MARKETING PLANNINGExecutive summaryThe report focuses on the importance of marketing plan and the application of it whilepromoting a product. The report aims at formulating a marketing plan that is required forlaunching an innovative wristwatch by Wise Tech Global. The wristwatch is designed withan inbuilt computer system that helps in maintaining the fitness of the people. The reportconducts a market segmentation analysis that is required for promoting the product. A SWOTanalysis is also conducted that highlights the strengths, opportunities and the issues that thecompany may face. The competitors and lack of a proper promotional plan are the mainissues that may arise in the company. An action plan for promoting the product is formulatedthat helps in setting up the budget of the company. In conclusion, it is seen that Wise TechGlobal needs to make a proper marketing research and negotiate with the celebrity endorseein order to maintain a stable financial balance and improve the profitability of theorganisation.
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2MARKETING PLANNINGTable of Contents4. Introduction............................................................................................................................35. Situation analysis...................................................................................................................36. Statement of opportunities and issues....................................................................................47. Marketing objectives..............................................................................................................58. Marketing strategies...............................................................................................................59. Marketing mix action programme..........................................................................................610. Budget analysis....................................................................................................................711. Monitoring and control........................................................................................................812. Conclusion............................................................................................................................9Reference..................................................................................................................................10
The Importance of Marketing Planning | Report_3

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