Marketing Management AQF Level 8: Cospak Planning Process

This report examines the marketing planning process of Cospak Pty Ltd, a packaging solutions provider. It begins with an introduction to the company, its vision, and mission, followed by a detailed overview of the marketing planning process. The report then evaluates the least effective components of Cospak's strategic marketing planning, focusing on inappropriate target market selection, lack of proper marketing strategies, and absence of market control techniques. Each of these components is analyzed in detail, highlighting their negative impacts on the company's growth and performance. The report concludes by summarizing the key consequences of these ineffective components and emphasizes the importance of addressing these issues to improve Cospak's marketing performance and competitive advantage. The report utilizes the article by Horáková, Švarcová & Volf (2017) as a basis for the marketing planning process.

Marketing Management
AQF Level 8
[Student name]
[Student number]
Marketing Planning Process of Cospak Company
Word count: 1500

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Table of Contents
Introduction.......................................................................................................................................2
Marketing planning process...............................................................................................................2
Evaluation of the least effective marketing planning in Cospak........................................................3
Key Consequences.............................................................................................................................5
Reference list.....................................................................................................................................7
Appendix 1........................................................................................................................................8
Appendix 2........................................................................................................................................9
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Introduction
The organization that has been chosen for this study is the Cospak Pty Ltd that provides total
packaging solutions in Australia, Asia, and New Zealand but its headquarter lies in Australia.
The firm provides a wide range of quality products such as plastics, glass, paper, metal, and
flexibilities. They also supply wine, food, beverage, personal care, and chemical to the
market leaders and also some products to the pharmaceutical industries (Cospak, 2019). The
company was established in 1969, and currently, 250 number of staff members are working
in this firm. The vision of this firm is to be the leading supplier brand of Australia in terms of
packaging of solutions and to supply the products to both industries and consumers. The
mission of the firm is to maintain integrity, excellence, and passion for providing high-quality
products by innovating it with time.
The objective of this assignment is as follows:
 To provide a brief detail of the marketing planning process
 To evaluate the least effective marketing planning of Cospak firm
 To demonstrate the consequences of this marketing planning
Marketing planning process
According to the article of Horáková, Švarcová & Volf (2017), marketing planning is
considered to be a critical business issue that influences an organization to be successful in
the future. Organizations mainly use this marketing planning process for expanding their
market operations and to enter into the new market. With the help of this planning process, I
have seen that the organizations tackles their competitors and supply their products as per the
market needs. The marketing planning process always is simple so that it can be universally
applicable by the organization. It helps them to achieve their marketing goals with proper
planning. According to me, it is essential for every organization to adopt an effective
planning process by collecting adequate information regarding market development and
consumer changing behaviours. Marketing variables are considered as the core fact of
decision-making and administration process of the top-level of a firm (Oliveira, 2015).
Appropriate marketing planning process provides several benefits to the firm as they are able
to satisfy their consumer needs and demands with their particular product range. An effective
marketing planning process only occurs when the firm get relevant and reliable information
on a timely basis regarding both the external and internal environment of their business
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procedures. In addition, for making an efficient marketing planning process, the firm has to
focus on the objectives that they have chosen for reaching their future goals (Oliveira, 2015).
Besides this, particular business planning has been done after analysing the environment in
which it operates and also on the strategies which they used for achieving their future goals.
As per the hierarchical organization level, the planning process is based on the marketing
activities in respects to the functional level, company level, and strategic business units. In
terms of company level, the procedure involves comprehensive planning that generally
focuses on the future goals of the organization. For developing this planning process with
respect to the company level, the firm generally has to focus on selecting the appropriate
target market that should be beneficial for their business (Horáková, Švarcová, and Volf,
2017).
In other words, based on the strategic level unit, the marketing planning process is made after
analysing the medium and long-term needs of the chosen market where the company operates
its business. From this fact, it is seen that the planning activities are generally carried out by
concerning different level of business operations concerning the country market where the
firm is currently present. Apart from this, the marketing planning process is used for
maintaining and creating a balance between the objectives of the firm as well as its
capabilities in relation to the changing environment where the organization operates their
business (Horáková, Švarcová, and Volf, 2017). It represents the relevant marketing
resources that can help the firm to reach its marketing goals without facing any problems. For
implementing an efficient planning process of marketing the business has to be aware about
their target markets needs and their business requirements. After analysing this, it becomes
clear that appropriate marketing planning process will improve the marketing opportunities of
a business and will reduce its threats that occurs due to the changing environment.
Evaluation of the least effective marketing planning in Cospak
Cospak is one of the leading distributor, importer, and manufacturer of flexible and rigid
packaging products that serve in Australia, Asia, and New Zealand. The firm always brings
innovation in its wide products range, but there are some components of the strategic
marketing planning process which have affected the firm’s growth. Presence of ineffective
strategic marketing planning process has reduced its expansion rate of business in other
countries of the world. The three least effective marketing planning process of this Cospak
firm are as follows:
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Inappropriate selection of target market
After reviewing the company business prospects, it is seen that they provided their wide
range of products to both consumers and business. Due to this reason, they have to
understand the needs of both these people segment, and this causes a problem for the
business. As per my knowledge, for making a profit-oriented company, it is essential that the
business should meet its targeted consumer needs. However, the management team of Cospak
firm maintains the procedure by which they can fulfill the needs of their selected consumer,
but often they fall for satisfying the desires of their targeted market (Mojsovska-Salamovska
and Todorovska, 2016). Hence, it is clear that this key component of the strategic marketing
planning process is ineffective for this Cospak firm as it increases some of their business
challenges that have affected their firm development in several other country markets in the
world.
Lack of proper marketing strategies
Cospak firm is often unable to satisfy their targeted consumer needs only because they do not
use appropriate marketing strategies in relation to their business. In order to develop the
brand in several country markets, it is essential for every firm to develop particular marketing
strategies that must advantageous for the firm to survive in market (Pulendran, Speed and
Widing, 2015). By incorporating appropriate strategies, the firm increases their market base,
but in case of Cospak firm, I have noticed that the management team does not give so much
importance on developing proper marketing strategies by which they can grab several country
market attention. In addition, it is also seen that the tactics used by this firm are also
ineffective in comparison to their business operations. Hence due to this reason, they failed to
grab the attention of the various country markets, and they only operate their business in
Australia, New Zealand, and Asia. From this factor, it is seen that this component of the
strategic marketing planning process is thus ineffective for this company.
Absence of market control technique
Four types of market control technique have been applied to a firm such as annual-plan
control, efficiency control, profitability control, and strategic control (Mojsovska-Salamovska
and Todorovska, 2016). If all these techniques are efficiently maintained, then an
organization can make an effective strategic marketing planning process. Becoming an
employee of Cospak firm, I have noticed that the management team cannot make a proper
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strategy, which helps them to control the overall market. According to my view, selection of
large market segment has generated this issue of controlling the market with the help of these
techniques. The management does not use the tool which influences them to utilize this
market control technique in their business operation (Pulendran, Speed and Widing, 2015).
Presence of such an ineffective procedure generate several problems for the firm, and it had
affected their business profitability rate. From this fact, it is seen that this component of the
strategic marketing planning process is also ineffective for the firm as it generated some
negative consequences on the business operations of Cospak. Hence, proper action should be
incorporated by this firm so that in future, they can easily control the markets by using the
various market control techniques.
Key Consequences
The three components of the strategic marketing planning process that have identified earlier
have causes several negative impacts on the business function of this Cospak firm. One of the
components is the target market, and for selecting the different segment of people, the firm
faces challenges. After reviewing the business statistics, it is noted that the firm supplies its
wide range of goods to both common people and companies (Crick and Crick, 2015). Due to
this reason, it must be essential for them to make a different agenda by which they can fulfil
the needs of their selected target market. However, they failed to discriminate their agenda,
and thus, the number of prime consumers have reduced in the firm from previous decades. It
also affected the overall company performance and profitability rate (Joseph et al., 2015). In
other words, another ineffective component is marketing strategies. As per the employee of
this firm, I have noticed that the management team does not make proper marketing strategies
that may help them to grab the attention of people belonging to several markets. Presence of
such prospects they enable to expand their business in other country markets of the nation.
Appropriate marketing strategies can enhance their branding and position in the market, but
the absence of strategy can diminish the growth and development of the company in the
operating markets. Hence this prospects has overall decreases the competitive advantage of
the company in various markets (Joseph et al., 2015). Along with this, it is noticed that
market control technique is also a component that becomes ineffective for the Cospak firm,
and it affected the whole marketing planning process of the company. Four types of market
control technique should be applied by a firm, and it influences the business to control the
changing environment of the market easily. Absence of utilizing market control technology
enables the firm to innovate their goods as per the market needs (Crick and Crick, 2015). In
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addition, it has reduced their brand growth in comparison to the other similar organizations in
the different country markets of Australia, New Zealand, and Asia. Besides this, the revenue
of the firm has affected due to this component, and thus it is important for the management
team of Cospak to use proper strategies by which they can overcome their issues as well as
make an effective marketing planning process in the coming days.
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Reference list
Cospak, (2019). About Us | Cospak . [online] Available at: http://www.cospak.com.au/about-
us.html [Accessed 28 May 2019].
Crick, D., and Crick, J., 2015. Learning and decision making in marketing planning: a study
of New Zealand vineyards. Marketing Intelligence & Planning, 33(5), pp.707-732.
Horáková, H, Švarcová, M and Volf, L 2017, ‘Marketing planning process – a reflection on
the complex of activities that affect all aspects of business life,' Marketing Science &
Inspirations, vol. 12, no. 2, pp. 43–53.
Joseph, M., Joseph, B., Poon, S., and Brooksbank, R., 2015. Diagnosing the strategic
planning process in Australian companies. In Proceedings of the 1999 academy of marketing
science (AMS) annual conference (pp. 326-326).
Mojsovska-Salamovska, S., and Todorovska, M., 2016. Brand valuation and marketing assets
assessment: Theoretical background vs. Contemporary managerial issues. Strategic
Management, 21(4), pp.37-44.
Oliveira, E., 2015. Place branding as a strategic spatial planning instrument. Place Branding
and Public Diplomacy, 11(1), pp.18-33.
Pulendran, S., Speed, R., and Widing, R., 2015. From Rational to Interpretive Planning:
Empirically Classifying Planning Styles in Australian Organisations. In Global Perspectives
in Marketing for the 21st Century (pp. 487-487).
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Appendix 1
Figure 1: The outer view of the Cospak Company of Australia
(Source: Crick and Crick, 2015)
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Appendix 2
Figure 2: The logo of Cospak Company
(Source: Pulendran, Speed and Widing, 2015)
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