(PDF) MARKETING MANAGEMENT RESEARCH ASSIGNMENT

Added on - 03 Dec 2019

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Marketing Management
Table of ContentsINTRODUCTION...........................................................................................................................1Section 1: The Marketing environment Audit................................................................................1Role of the marketing environment audit...............................................................................1Areas to be covered for full audit of macro (external) environment......................................2Key contemporary trends in the external environment and their impact on the organization3Audit of the competition – Porter’s five forces analysis........................................................4Major opportunities and weaknesses faced by the company..................................................4Section 2: The Marketing Plan........................................................................................................5SMART objectives.................................................................................................................5Segmentation, targeting and positioning strategy including positioning map.......................5Justified recommendations for marketing promotional strategy............................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONMarketing management can be defined as a process which consists of assessing themarketing environment and identifies the new product development need. In addition to this,marketing management is highly concerned with advertising, promotion and sales of product orservices (Ashill and Frederikson, 2003). Marketing has evolved as an element of success inbusinesses into consideration. In present scenario, businesses are able to communicate its valueproposition to be delivered through marketing activities. It is essential for businesses to developmarketing strategies which results in attracting large number of customers. It can be said that, themarketing strategies creates a platform to communicate with customers. Moreover, it emphasizeson delivering right quality of products to target group of consumers. The report proposedherewith stresses on creating marketing plan for launching a “recipe maker” app for Apple andAndroid phones. A new start-up company has decided to launch “recipe maker” for iphones thatoperates on iOS and phones that operates on Android. . The marketing plan to launch novelapplication is described through the report presented herewith.SECTION 1: THE MARKETING ENVIRONMENT AUDITRole of the marketing environment auditMarketing audit emphasizes on conducting analysis of external and internal environmentanalysis. This in turn helps in devising effective strategies on the part of business unit. Marketingenvironment audit is considered to be highly valuable for the business into consideration. It isthrough adoption of various marketing models developed that, the marketing audit can beconducted on part of the organization. The marketing audit assists in identifying all factors thataffects business decision making process (Baker, 2000). As per the marketing plan, the businessunit is considered to be responsible for identifying consumers’ needs and satisfying the samewith suitable business offerings.The marketing audit helps in identifying strengths and weaknesses of the organization intoconsideration. Moreover, it also assists in evaluating threats and opportunities which are offeredby external environment conditions. This in turn helps in creating high value proposition anddevelopment of effective marketing strategies on part of the organization. It is through marketingaudit that the organization is able to imbibe competitive edge in its offerings. The business unit isable to conduct competitive analysis as a part of marketing audit. This in turn assists in designing1|P a g e
offerings that provide an edge over competitors. Moreover, it is through marketing audit that thebusiness unit is able to identify consumers’ requirements. This in turn helps in development ofbusiness offerings that matches with consumers’ requirements. The organization is also able totake benefit of opportunities that exist in market place due to marketing environment audit.Finally, marketing environment audit also helps in identifying weaknesses possessed by theorganization and risks possessed (Boone, 2012).This in turn aids in framing effective strategiesto overcome weaknesses and mitigate risks associated with the organization. It can be thereforesaid that, marketing environment audit is highly beneficial for the business into consideration.Areas to be covered for full audit of macro (external) environmentThe macro-environment analysis is conducted to identify the impact of externalenvironment conditions on business operations. The analysis of macro (external) environmentemphasizes on evaluating all industry and market-related factors impacts business operations. Itis through PESTLE analyses that analysis for macro-environment factors can be conducted. Theexternal environment analysis for new start-up is detailed below.Political:The political changes within an economy results in formulation andimplementation of various kinds of government policies and procedures. In order toconduct business operations in an effective manner, the organization should develop deepunderstanding of various government policies. It is seen that, mobile app markets are nothighly impacted by economic policies and procedures (Brooksbank, 2009). The politicalconditions do not significantly impact operations of the organization into consideration.Economic:It states economic growth rate, level of employment, interest rate and inflationrate. Economic factors such as inflationary condition closely affect the decision makingof customers and impact their purchasing pattern. Living standard of people is depend ontheir income level so before making any policies Apple needs to undertake economicalcondition of the market.Social:Socio-cultural factors include demographics, population growth rate and level ofeducation, living condition and lifestyle of people. It provides deeper insight to Appleregarding growth and development aspects of the new mobile app. For example: If livingstandard of people is high in UK market then it provides opportunity to company tocapture the market by attracting more customers (Ferrel and Pride, 2011). In addition tothis, level of education is one of the main factors which closely affect the sales of recipe2|P a g e
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