Impact of Business Environment on Marketing

This assignment analyzes the profound impact of the business environment on effective marketing practices. It examines how elements like technological advancements, economic trends, political regulations, social values, and competitive landscape shape marketing strategies, consumer behavior, and overall business success.

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Concept of marketing and their current and future trend,................................................1
1.2 Different marketing process.............................................................................................4
1.3 Key responsibilities of the Marketing Manager in Vodafone..........................................7
1.4 How roles of marketing manager influence the other department in the Vodafone........8
PART 2............................................................................................................................................9
P3 and M3 Comparing the organization by applying marketing mix ...................................9
P4 and M4 Marketing plan for Vodafone.............................................................................10
Executive..............................................................................................................................10
Company Overview..............................................................................................................11
Analysis of Marketing situations..........................................................................................11
Objectives ............................................................................................................................14
Strategies..............................................................................................................................14
Segmentation, Targeting and Positioning.............................................................................15
Budget...................................................................................................................................16
Control..................................................................................................................................17
Conclusion.....................................................................................................................................18

INTRODUCTION
In recent times, the most important and tough task of business enterprises are to
increase financial profit and compete their competitors, it can be possible if organisations
have strong merchandising channel. Through marketing essentials companies can introduce
them as well as their products in market place in effective manner. Generally includes
marketing plan of firm, different approaches of market research and how promotional
activities of marketing will affect the marketplace. In other words, merchandising is a process
by which managers of organisation create, promote and deliver their products & services to
their potential customers. Marketing is essential for not only goods but also for individuals,
enterprises, experiences, property, events, information, ideas and different places. With the
help of merchandising concept organisations can identify various needs, demands and
preferences of their customers. This project report is based on multinational telecom
company ''Vodafone'' which is situated in United Kingdom. It provides its services in many
regions like Europe, Asia, Oceania and Africa. Also, it has approx 111,556 employees. In
this report various roles and responsibilities of its marketing department has been explained
to evaluate its significance in other functions of organisation. Along with this, merchandising
plan of this company has been determined in detail.
TASK 1
1.1 Concept of marketing and their current and future trend,
Concept of marketing
Marketing is the management process which help the organisation to produce and
serve goods and services to the consumer in order to fulfil their expectations. It is co-
ordinated with four elements that are product, price, place and promotion which includes:
 Identification, selection and production of product,
 identification and deciding the price,
 selecting distributors that can help them to reach at customers and
 Development and execution of promotion strategy so that awareness can be generated
(Lynch, and et.al., 2012).
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There are five concepts of marketing which help organisation to satisfy customer need and
want in different ways and each of then vary in their function. The concepts were developed
to deals with the different market situation such as demand, supply, cost etc. As the market
scenario changes, the concept have be changing, these are as follows:
Illustration 1: Marketing concept
(Source: Concepts of Marketing, 2017)
 Production concept: This is the oldest concept in marketing which state that
customer will prefer those products that less expensive and hold large variety on the
basis of colour, shape, size, features etc. in this concept, marketing manager try to
achieve large production at low cost with the large distribution. The marketers believe
that the consumer will prefer those products that are largely available and at low cost
(LiPuma, and Doh, 2013). This type of strategy will work in those countries where
customer is interested in purchasing the product rather than its characteristics.
 Product concept: In this strategy, producers produce those goods which have
innovative features, high quality and performance. In this concept, managers
concentrate to produce superior quality products as well as improving them time to
time. They think that customer will appreciate and buy those products which have
high performance and good quality, so their key focus is to produce high quality
products and services which satisfy needs and wants of the consumer.
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 Selling concept: In this concept, organisation need to focus on more sales, they put
effort that what so ever the goods have been produced, that should be sold in the
market. They try to build relationship with the clients and then sell their products. In
this organisation need to have large sales force and aggressive promotion strategies so
they can able to generate awareness to large target market. This type of concept is
used when the organisation have large tools to do marketing and promotion to make
great sales (Light, 2015).
 Marketing concept: This is the mix of selling, production and product concept and
this is very complex for organisation to implement. This concept is used when the
company want to achieve competitive edge and to be the leading organisation in the
market. The key focus of this concept is to identify customer needs then production of
those products which is demanded by the clients. It is developing, delivering and
communicating customer value to the target market. There are four factors that affect
the marketing concept that are customer needs, profitability, integrated marketing and
target market (Kindsfaterienė, and Lukaševičius, 2015).
 Social marketing concept: In this concept, organisation's focus is to identify
customer interest, needs and wants of the target customer and satisfy their desire and
satisfaction more than competitors. Their key focus is to produce those goods that are
for the society well being.
Current and future trend of marketing
There are different trends in marketing that helps the company to promote and market
their products, because generating awareness is very important part for every organisation. It
helps them to create sales and make large profits, so different trend are as follows:
Relationship Marketing
In this marketing strategy organisation try to create and retain large number of
customer by making relationship with them rather than making sales. It is very different
strategy from other marketing concept, where market build long term value of relationship by
the means of effective communication which help them to transfer promotional message. It is
short term arrangement where seller and buyer have been interesting in serving more
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satisfaction in exchange. To maintain relationship with the customer, organisation tries to
give some post purchase services and benefits which help to retain more customers in the
future. This type of strategy is used when there is large competition in market and consumer
is confused that who which brand will provide more benefits to him (Lynch, and et.al., 2012).
For relationship management, organisation is using customer relationship management
software that helps company to analyse and keep track of customer taste, preferences, likes,
dislikes, complains and activities. With the growing mobile and internet platforms,
relationship marketing have become more easy to open up they technology and social
communication channels. The key objective of relationship marketing is to retain customers
by building relationship which help them find, attract and win consumers for them.
Business or Industrial Marketing
It is the strategy to sell goods and services to the industry who can re-sell their
products, use their goods to produce other products and help them to support their operations.
As time passes it is called as business to business selling. There is tremendous change in the
business marketing in the recent years are due to revaluations occurs in the world that are
technology, entrepreneurial and marketing revaluations. Technology is growing in the
unprintable way which help them to produce quality goods and services. Entrepreneurial
revaluation where competition have been increasing day and day which help them to increase
flexibility, adaptability, innovativeness, aggressive and speed. Marketing help them
entrepreneurial to lead by finding untapped needs, market segments and new users for the
new and existing products. Marketing evaluation where organisation are adopting new
techniques, theories, framework, concepts and framework which helps organisation to deal
with the different business.
Societal Marketing
In this type of marketing, organisation focus on the customer, they identify needs and
wants of the consumer so that they can able to deliver satisfaction to their target market. They
also have special emphasis on corporate social responsibility and sustainable development.
They keep special track on the customer satisfaction and welfare of the society at large basis
which can be attain from producing eco friendly products. In this marketing strategy,
organisation keep focus on well being of society, should eliminate deficient products.
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1.2 Different marketing process.
Marketing process is the process of analysing the different opportunities in the
market, selecting the target market by STP, development of marketing mix and managing the
marketing efforts.
Illustration 2: Marketing process.
(Source: Marketing Process Steps, 2017)
Analysis of the Opportunities in the Market
In this stage Vodafone need to analyse the market situation which helps them to find
different opportunities which can be garbed by them in order to gain competitive advantage.
The opportunities may include the needs and wants of the consumer which other companies
are not able to satisfy (LiPuma, and Doh, 2013). They focus on improving the performance
of organisation by serving high experience to the customer related to products and services.
For finding opportunities, Vodafone need to collect information from internal as well as
external sources. Management information system is complimented which helps the company
to collect raw data from their different stakeholders and target market. The firm can also
organise research by the means of conducting surveys, interviews etc of the customer,
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competitor, special and general trends and other unplanned and extra-ordinary change that
can take place in the market environment. As the data is being collected, special tools are
implemented that can help them to analyse the raw data to make it relevant information in
order to identify opportunities. After that whole market place is slip into different target
groups and that are divided on the basis of income, geographical location, age group etc.
After that each segment is evaluated properly to find that which group will provide large
profits and revenues (Light, 2015).
Selection of target market
It is the most significance stage where organisation decide their target market to
whom they are going to serve their products and services. For this stage, they create an
effective analysis of target market so that they can able to find their final consumers. As it is
known that, an organisation cannot fulfil the desires and expectation of total population
therefore, they need to deride population into small target group and choose best segment and
serve goods and services to create position in the market, it includes three stages, that are as
follows:
Market Segmentation: It is process by which whole target market is divided into small
segments. In simple words it can be said that when whole market is slip into different types
of customers where each segment have similar features, wants and behaviour which wants
different marketing strategies and mixes. It can be classified on the basis of gender, age
group, income class, marital status and occupation
Market Targeting: To select the most potential and suitable where the organisation want to
enter, they need to analyse the attractiveness of each group which is being slitted from the
total market. The most suitable way to select the target market is to find that the group is
serving opportunities to create customer value for the long run (Kindsfaterienė, and
Lukaševičius, 2015). Company can also choice niche marketing where they can only select
one or two target market and create strategies, products and services for them. The most
effective method is focus where the company have key focus over one or two segments so
that they can effectively able to provide quality goods and services to them.
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Market Positioning: Their main objective of organisation is to create position in the eye of
customers as compare to their competitor. In simple words it can be said that the company
tries to create clear and specific image in consumer about their products and services.
Development of Marketing Mix
Marketing mix includes various aspects that are mixed by the organisation in order to
create certain desire response in the target market as well as demand for the goods and
services is also effected by the application of activities of marketing mix. The mix includes
product, price, place and promotion.
 Product states customer solution: it is the offering made by the company in terms
of goods and services. These are those who satisfy needs and wants of the consumer.
It can be tangible or intangible and may be in the form of goods or services.
Organisation need to produce that types of goods which satisfy the expectation of
consumers. The important part for the products are their quality, size, colour, features
etc.
 Price states Customer Cost: It is the money which is paid by the customer in return
for the goods and services. Organisation need to decide price of their products
according to their product specification, cost and competitors price. There are
different strategies which can be adopted by the company to achieve their objectives
that includes price skimming, price penetration, mark up pricing, price bundling,
every day low pricing, psychological pricing etc.
 Place states Convenience: It includes ensurety that goods should be reach to the
customer and they fell convenience while purchasing the products. There are different
types of distribution on goods and services that includes intensive, exclusive,
selective and franchising (Lynch, and et.al., 2012).
 Promotion states Communication: It is the effort made by the organisation to make
sure that products should be sold to the customer by providing information about the
advantages and disadvantages of the goods and services. There are various ways by
which firm can promote their brand and products that includes sales promotion such a
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providing discounts, coupons or public relations, advertising and digital or social
media marketing.
1.3 Key responsibilities of the Marketing Manager in Vodafone.
 Organising marketing research: It is the key responsibility of the marketing
manager of Vodafone is to conduct the market research in order to understand that is
competitor doing and what are the needs and wants of the consumer. The research
help them find different opportunities so that they can able to gain competitive
advantage over their rivals. It includes external analysis of the organisation which
consist of competitors, customers, suppliers etc. so that they can able to produce
superior goods than their competitors and employee effective and efficient marketing
strategies. They may conduct research by organising survey or face to face interview
(LiPuma, and Doh, 2013).
 Developing the Marketing Strategy: Marketing manager of the Vodafone need to
create marketing strategies for their company, this will help them to promote their
products and services to their target market. Their main aim is to generate awareness
among their customer so that they can make sales for their goods and services in order
to generate revenue and cover large market share.
 Customer Relationship Management: It is said that customer is god for the
companies, all the activities that are arranges in the organisation are made for the
clients. Vodafone need to customer their needs and demands of the customer by
communicating with hem which help them to build relationship with them. If
customer are satisfied with the brand, then he or she will not switch to other company
which help Vodafone to retain old customer and attract large customers.
 Employee Management: There is large sales force under marketing manager, he
need to take care that all the employees are working properly or not or they are able to
need the target. It is responsibility of marketing manager of Vodafone to assign task
and duties as well as set targets for their department staff. He need to evaluate the
performance of employee to find their efficiency.
 Brand Development: It is responsibility of the marketing manager to create
attractive advertisement for the by using logo's, sounds such as music which can be
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given in the radio and TV. Brand is the image which comes in the mid of customer
while thinking about the company. Every organisation have their own brand, if the
brand is good than more customers will attract and if not than consumer will switch to
other brand, so it is responsibility of the marketing manager to create good brand
image to attract and retain customers (Light, 2015).
1.4 How roles of marketing manager influence the other department in the Vodafone.
 Finance department: When marketing manager is making plans, he need to consider
financial information about the new and existing products and services. Marketing
can be considered as the supporting management while making investment decision.
 Production and operational: Marketing manager of Vodafone will help production
department to find the number of products and services to be produced. It helps to
influence demand for the goods and services according to the timing and levels.
 Research and development: Vodafone marketing manager help research department
to find idea for the new products and services for the implementation. It will help to
find that which product is profitable and fruitful.
 Sales: Marketing manager of Vodafone help to create health relationship between the
customers which will enhance sales (Kindsfaterienė, and Lukaševičius, 2015).
Importance of effective relationship with the different department in Vodafone.
It will create trust between the all the departments with the help of effective
communication which helps to build confidence in all the employees. It will improve
customer service where clients need not to suffer bureaucratic referrals. It will increase the
efficiently of all the employees in Vodafone as their task are clearly known by them and
resolve conflicts between them which was arises due to in-proper co-ordination (Lynch, and
et.al., 2012).
PART 2
P3 and M3 Comparing the organization by applying marketing mix
Marketing mix is an essential component which puts the right product at right place in
order to increase the sales and get correct price for it (Clow and James, 2013). There are 7Ps
of marketing mix which can be applied on Vodafone and EE Ltd in the following manner:
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Marketing Mix Vodafone EE Ltd.
Product
It provides various opportunities for the
customers such as, chat, play games,
change ring tones, receive information
related to travel, sports, politics etc.
It provides voice transfer and
video calling services to its
customers and connect people
with each other.
Price
It follows value pricing structure where
services are provided at affordable prices.
It has daily, weekly and monthly
packages.
It has slight premium pricing
strategy. It is recommended to
go for penetration strategy.
Place
It has around 300 stores in UK where it
even sells to independent retailers. It has
already covered around 75% of the
operational area.
It works on three basis, direct,
sales staff and intermediary.
Promotion
Vodafone promote itself through TV,
magazines, internet, billboards etc. It also
provides special offers to its customers.
Target its potential customer
through internet. Set up its
social media pages and remain
active on them.
Process
It provides emphasis on speed and
accuracy and makes the services' easy and
convenience to its customers
It provides effective services
to its customers by providing
speedy Internet and
uninterrupted voice services.
People
It involves high customer interaction by
developing customer care centres in order
to satisfy them. It provides training and
development to its employees and recruit
them based on education and training.
Customer services of the entity
is planned and organized. It
provides incentives to its
employees by way of training,
bonus, benefits etc.
Physical evidence It has used a Zoo Zoo as a symbol It has adopted effective
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denoting its strong customer service.
marketing tactics and
promotional strategies in order
to attract client.
P4 and M4 Marketing plan for Vodafone
Executive
Marketing is considered as a activity that allows business firm to have sustainable
development. By having an effective consideration of such aspects the business entity can
easily promote products and services. Marketing planning is an important activity in this
context and requires utmost attention from the management. There are various elements that
are included in it, such as segmentation, targeting, positioning, marketing strategies, etc.
Vodafone can have sustainable opportunities within market through marketing plan.
Company Overview
Vodafone is a British multinational company which deals in telecom sector and
mainly operates its business from London. Business entity was mainly founded in year 1991
by Racal Millicom. It is a public limited company and offers number of telecom services to
customers. Firm has also expanded its business in diverse geographical areas in order to gain
competitive advantage. Around 150 countries the company is serving its services. In addition
to this, it can be said that business firm is impressively introducing diverse services every
year. For example, diverse 3G and 4G plans are available in market which offers better
opportunity to gain sustainability (Dibb and Simkim, 2013).
Analysis of Marketing situations
External analysis
PESTLE:
 Political factors: The political factor is most important for the companies like Vodafone
to develop their infrastructure. The company is totally dependent on political factor for
better operational plans and to develop better infrastructure for network.
 Economical factors: This factors is second most important for the company to develop
the chance to expand itself and to open new units in developed zones. Good GDP of the
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company shows good earning of the people.
 Social factors: This factor is based on culture and beliefs of the people in the company
for better operations. Vodafone is purely European company but has changed its policies
and the preferences as per the local culture in different geographical regions.
 Technological factor: Vodafone is the most innovative company in the world which it
is famous for. It always follows the trend to be in a competition in technological and
communication world. To provide new technologies the company must keep checking
and assessing the new features for the devices (Greene, 2011).
 Legal factor : Vodafone is a global company and has many rivals. The company has to
be very alert about its legal issues like piracy, copyrights, etc. The company has paid
many penalties for being blamed for pertaining the infrastructure sphere.
 Environmental factor: The customers always expects to be best and to socially
responsible form their favourite company. To attract more individuals to become a part
of the company the work environment should be good.
Porter's five forces model for Vodafone:
Porter's five forces Description
Buyers Power The bargaining power of the buyers in this
industry is high due to the tough competition
and lack of differentiated products. The strong
buyer power reduces the cost of price in the
industry as Vodafone does to give the
reasonable profits as compared to its
competitors.
Supplier power The company operates with a great margin so
the buyers have the huge bargaining power as
compared to its competitors. The market share
of the company is too big that it can easily
absorb the increments from its suppliers as
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compared to its competitors can
Threat of substitutes The company faces the considerable threats for
its products and services. Due to the strong
buying power and effective economies of scale
Vodafone need not to lower the costs.
Threat of entrants The threat of new entrants is less due to
barriers. The new entrants have to pay a huge
pay for licensing fees and the cost of setting
new network is high and is rapidly changing.
Industry rivalry Vodafone faces high rivalry due to the low cost
rates charged by its closest competitor. The
competitors provide the similar products and
innovative idea which is the major issue of
rivalry (Hollensen, 2015).
Internal analysis
Porter's value chain
Supporting activities
Firm
Infrastructure
Affordable and customer based services are extended
Human resource
management
Education and training to the employees. Timely bonuses, appreciation
and benefits to boost their morale.
Technological
development
Provide the latest technology to its employees in order to serve the
customers in better manner (Lee and Kotler, 2011).
Procurement It buys product and services in order to provide innovative solutions to its
clients, such as, upgraded computers, e Sourcing, e Signature, e Invoicing
etc.
Primary activities
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Inbound Logistics Operations Outbound
Logistics
Sales and
marketing
Servicing
Set benchmark in
terms of services
provided to the
customers.
Pilot test
performed
before adding
any new services
to the existing
service line.
These are the
services
provided to the
client such as
voice call,
internet, data
etc.
Promoting the
activities in effective
manner in order to
attract the highest
number of clients.
Foe instance, high
discounts, monthly
and weekly plan,
discounted plans etc.
It provides
customer care
services its
clients so that
they continue
taking its
services for a
longer period.
SWOT Analysis:
Strength Weakness
Most popular cellular service provider
High brand visibility
Strong advertising with Zoo Zoo
Global presence and diversified revenue
Leading market position
Customer loyalty
Highly competitive market
Legal proceedings
Mobile phone radiations
Weak management
Work inefficiencies
Opportunity Threat
Latest and low cost technology
Untouched rural market
4G introduction
Mobile transfer services
Growth of mobile advertising
Online market
Financial leverage
Low prices offered by new entrants
Mobile number portability
Adverse macro environment conditions
Legal risks
Delayed technology
Substitute products
Volatile revenue, currencies, costs
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Objectives
Vodafone is a leading company which provide telecom services to its client. The
focus is to provide effective customer service to its client. SMART objectives for Vodafone
can be defined in the following manner:
 To increase the sales revenue by 5%. It will help in profit maximization and increase
services to its client (Mullin, Hardy and Sutton, 2014).
 To increase the use of upgraded technology to provide faster services to its clients.
 To increase the customer base by 10% in comparison to the previous year
 Increase the brand awareness of Vodafone in order to increase the profit by 10% in
comparison to the previous year.
The objectives are SMART enough as these are specific and measurable as the
comparison is made with the previous year data in numerical terms. The increase decided is
attainable and realistic enough to increase the brand awareness of Vodafone. Further, time
allotted to perform all these objectives is one year and assessment will be done based on the
current financials of Vodafone.
Strategies
Effective strategies are required to be formed in order to achieve the SMART
objectives that has been formed for Vodafone. Some of them are discussed below:
 To adopt different promotional strategies in order to increase brand awareness such
as, billboard publicity, radio promotion, Newspapers, e mail marketing etc.
 To increase personalised marketing, increase per direct messages by 500. It helps to
make the customer valued (Ogunmokun and Tang, 2012).
 To adopt the facility of Pay Per Click. It helps in increasing the number of visitors on
the website and more people go through the offers being offered by the entity.
 To provide discounts and promotional offers to the new customers. It attracts them to
opt for the telecom service and their existing network changed to Vodafone.
 Analyse the profits of current year and compare it with the previous year.
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Segmentation, Targeting and Positioning
 Segmentation: The process of dividing the whole market into small groups with
keeping the variables such as age, gender, income, geographic, psychograhpic and
behavioural in mind. For Vodafone the product is for both genders of every income
and every age. Markets are divided into many groups of people with common
characteristics as consumers. The better the company can attract the customers, better
marketing material to appeal, the more cost effective markets that can respond better
makes it easier for brand positioning and to build brand loyalty.
 Targeting: Multi targeting strategy is adopted by Vodafone to capture high end,
medium end and low end consumers including the business professionals etc.
Vodafone started numerous bonus plans, offers, schemes to attract its consumers.
They introduced small data packs for prepaid users including international roaming
facilities, calling card for their postpaid users. Recently launched plans for large scale
business which were customised according to their needs (Smith, 2011).
 Positioning: Positioning basically involves implementing the targeting. Consumers
are always overloaded with information about products and services. They cannot re-
evaluate the products every time they buy. To make the buying process simple the
consumers has categorised the products, services and companies for better and easier
positioning. A product positioning is simply the set of perception, impression and
feelings that consumers have for their products as compared to the competing
products. Consumers position and rate their products with or without help of
marketers but do not leave chance to position their product.
Tactics and Actions
7Ps of marketing helps in assessing various factors of an enterprise such as, product,
price, place, promotion, people, process and physical evidence. Product is formed based on
the demands of the customer. It helps to attract maximum number of customers towards the
services that are provided by the entity. Vodafone provide telecom services which is a
necessity for most of the people. Price is decided based on the customer that the organization
is targeting. Vodafone use affordable pricing strategy. Place should be decided in such a way
that the customer can reach to the entity easily to get different types of services. Further,
Vodafone have been very active in promoting its products. Effective process helps in
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achieving organizational goal in better manner. It promotes its product using Zoo Zoo which
has become a key feature of Vodafone's success.
Budget
Activity Time Duration Rate Total Cost
Radio Promotion 60 second ads
throughout 1 year
between Monday to
Sunday
£200 per 100 ads (200
* 52)
£10400
Billboard Publicity 6 months £8,000 per 4 weeks
plus $650 connection
duties
£8650
Magazine promotion 6 months Double Page Spread -
£23,050 for 8 ads
Full Page ads -
£12670 for 8 ads
£35720
Newspapers 1 year Courier Mail – Mon-
Fri-Full page -
£13,029
Courier Main – Sat -
£17,990
£31019
Google Marketing 1 year 60£ per month £60
Email Advertising 1 year £10 per month £10
Web Promotion 1 year £250 per month £250
500 Direct Mail
Letters
1 year £1500 £1500
Website Design One Time £1000 £1000
Total £88609
In order to have effective promotion of products and services the business firm need
to consider budgeting as a critical factor. By having an effective allocation of funds to the
diversified marketing activities the issues can be resolved. According to designed budget the
overall cost over the promotion of services will be £88609. Under this, activities are being
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classified on the basis of significance of activities. It has been noticed that 60 second ads over
radio throughout 1 year between Mondays to Sundays are being considered as part of budget.
£35720 has been allotted for magazine promotion (Taghian, 2010). It will allow to have
better promotion of services and ensure that key aspects can be developed effectively.
Control
It is significant for every business firm to have effective consideration of monitoring
of activities so that goals and objectives can be accomplished. It is necessary for Vodafone
managers to have strict control over framed marketing activities. For the same purpose the
company can also focus on benchmarking system so that long term sustainability can be
attained effectively. 360 degree monitoring and quality standards also need to be set out in
order to make sure that better services are being promoted. It is essential to ensure that
marketing activities application is offering better brand image in the market so that more
customers can be attracted towards business.
The Key Performance Indicators (KPI) of Vodafone are:
 Net addition in mobile customers
 Increase in revenue in comparison to previous year (Terpstra, Foley and Sarathy,
2012)
 No. of cities covered
 Increase in number of employees
 Service performance
 Network Congestion
 Network availability
The success for Vodafone can be measured by comparing the data with previous year.
It will help to see the improvement that has been made by the entity. It will also help to
improve the objectives and achieve higher growth.
Conclusion
Based on the above market plan of Vodafone, it can be concluded that, it is important
to derive SMART objectives in order to create a benchmark (Vaňa and Černá, 2012). Further,
it is analysed that Vodafone is required to compare its profits from the previous year in order
to find out increase in its performance. The estimated budget to achieve these objectives is
£88,609 through which Vodafone can improve its marketing activities. It is required to
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initiate training and development towards the employees so that organizational goals can be
fulfilled in better way. In the end Vodafone's Key Performance Indicators are, increase in
revenue, increase in number of customers, network availability, network congestion etc.
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REFERENCES
Books and Journal
Clow, K. E. and James, K. E., 2013. Essentials of marketing research: Putting research into practice.
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