Marketing Planning Assignment
Added on 2020-01-07
22 Pages6927 Words75 ViewsType: 75
Business DevelopmentDesign and CreativityHigher EducationPhilosophy
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Marketing Planning
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1 ...........................................................................................................................................1P1.1 Changing perspectives in marketing planning....................................................................1P1.2 BA's ability for planning marketing activity.......................................................................2P1.3 Techniques for organizational auditing..............................................................................3P1.4 Factors that affect marketing planning in BA.....................................................................4TASK 2 ...........................................................................................................................................62.1 Barriers to marketing planning..............................................................................................62.2 Ways to overcome barriers in marketing planning...............................................................7TASK 3 ...........................................................................................................................................83.1 Marketing plan .....................................................................................................................83.2 Necessity of marketing planning in strategic planning.........................................................93.3 Techniques for new product development..........................................................................103.4 Recommendations...............................................................................................................103.5 Factors which affect proper implementation of the marketing plan...................................11TASK 4 .........................................................................................................................................134.1 Ethical issues influencing marketing planning...................................................................134.2 Response of company to ethical issues...............................................................................134.3 Consumer ethics and their effect on marketing planning....................................................15CONCLUSION..............................................................................................................................17Summary Of British Airways........................................................................................................18REFERENCES..............................................................................................................................19
INTRODUCTION Marketing plan is a pattern or a business document that outlines the marketing strategyand advertising plan and plan of action. In other term it is the procedure of examine more thanone interesting places in market where the business can compete (Chen, 2014). It is focusedmore on a specific period, say one year or two year. It is not a static document like business plan,it keeps on changing as the market is changing and business is growing (Chen, 2014). Thepurpose of designing a marketing plan is to reach the goals and the objectives set by thecompany in effective, more efficient and economical way. TASK 1 P1.1 Changing perspectives in marketing planningMarketing requires instinct and creativity. By looking at your marketing goals, availableresources and methods you can create marketing plan. Different viewpoints can help possibilitiesand risks that may either help your marketing to get succeed or face failure. Various aspects thatwe are using helps in our marketing to be present unique in the market (Samadi, Mirzazadeh andPedram, 2013).Four P'sMarketing planing practices that are been followed since long time laid emphasis onproduct, place, pricing and promotion. Marketing planning that makes use of four P's starts withconsideration of product such as benefits, characteristics, brand name and wrapping. Byconsidering competition or profits pricing issues should be decided. The product will be able toput into the market after the details given by the marketing plan.Push vs. PullTraditional approach used by the marketer to put the product into the market is refusedby the current marketing planning. According to new marketing theory customers can beattracted towards the company by giving them quality information and layout that avoidsexaggeration and rather displaying messages continuously we should listen them. This viewpointemphasizes on developing different ways to participate and give feedback to customers forimprovements in the product.Situation Analysis1
Without listening to marketplace and giving focus on your planning can cause you to domistakes (Long, 2015). Your perspective may change if you listen. On measuring demand of theproduct in the market, taste of customer, competitor's strengths and weaknesses planning can beadjusted to fit into prevailing conditions.Perceptions and SciencePerception is reality in marketing.Product's appearance attracts customer towards it.Although with technical approach by making use of facts, numbers, and group surveys,marketing plan can be developed. The marketing plan must leave room for unexpected.P1.2 BA's ability for planning marketing activityAirlines are considered to be the most important aspects for individuals and organisationsas well. Time required to transport goods and services have drastically reduced. Thereby, itprovides large scale of business opportunities for participants in airlines industry. The other partdepicts the huge competition in the market. The following stated sections analyses the strategiesapplied for marketing of the venture that would help BA to attain success.Market objectivesMarketing strategy of British Airways would include customers, production, employeesand quality service. To gain market share by providing excellent services to customers would bethe main objective.The firm also intended to expand into new areas by capturing short haulmarket (Dibrell, Craig and Neubaum, 2014).The company's excellence in service quality wouldbe ensured for availing its products and services to customers by the availability of the bestresources in the organisation.Marketing StrategiesBy using Ansoff model, the strategies applied for the marketing of the firm can beconstructed. Ansoff model defines future scope and strategies of any organisation. Fourstrategies are proposed by the model that any firm can use to capitalise onto market prospective.The four strategies are:Market PenetrationThis strategy involves a situation where a firm tries to enter the market with the productthey already have in the market. By providing improved and better quality services with theproduct in a way British Airways can make use of Market penetration strategy. Feedback andreviews can be taken into consideration to add more customer sections in the market.2
Product DevelopmentNew services can be offered like fidelity programs, corporate class customers can be tiedup , packages with new additions includes product development for British airways.Market developmentDevelopment involves to enter into those areas of market which is currently not served byairlines (Fröhlich and Grimm, 2016). This will lead to business enhancement. For eg, even indowntime of economy investments can be made into productive and adaptable aircraft, thenumber of manpower on the whole terminal can be reduced, by introducing new products etc.DiversificationDiversification is not a feasible option as it would shift your focus from the present businessmarkets which would ultimately lead to business loss. Diversification would require migration ofsupply chain and vertical integration which is not a viable option. Evaluation of Strength of BABA is an established company that has years of experience. It has skilled employeeswhich could help in developing new marketing strategies and customer support services.Innovations in technology has always been adopted by the airlines which form competitiveposition in the marketplace. By introducing flights in new areas could be helpful in company'sgrowth. They have strong capabilities and reach in aviation industry. Competitive strength iscontributing factor in success of marketing activities. P1.3 Techniques for organizational auditingAn audit activity is conducted by every organisation to inspect and identify faults oropportunity in the company taking place around it. Organisational audits constitutes inherentproficiencies of the venture and internal system layout. Basically, organisational auditingtechniques consists of two parts: internal factor evaluation and external factor evaluation.Techniques that can be used for organisational auditing are given below:SWOT AnalysisSWOT (strengths, weakness, opportunities, threats) analysis works on two factors:1.internal factors2.external factors Both the factors affects the business. SWOT analysis can be used to identify and decide thathow we can perform auditing: 3
Company should take benefits of new opportunities of business.Response for trending things.Implementation of the latest technology.Dealing with changing operations of customers.Porter's 5 Force AnalysisOrganisation's behaviour in a competitive market is affected by five forces as proposedby Porter. These includes the following :Competition between the sellers that are already present in the market.How sellers are affected by the suppliers.Prospective threat of new sellers invading into market.PEST AnalysisGrowth of market or declination, business status, latent and the way for operations to becarried can be understand by using PEST analysis (Fleischmann, Meyr and Wagner, 2015). It is auseful strategic tool. In planning of strategies and business, marketing planning, development ofbusiness and product and reports of research the use of PEST analysis has been seen influencing.PEST is useful when the firm decides to enter into market that are completely new to them. Tobreak unconscious assumptions and to relate to the new environment it is great beneficiary.PEST ensure company performance gets improved with each day by applying various strategieswhich will ultimately benefit company's growth and profit.P1.4 Factors that affect marketing planning in BAThe British Airways was formed through nationalization by the labour Government. Theneed for change for BA was driven by number of factors. BA can make use of SWOT analysistechnique for organisational auditing (Gepp and et.al., 2017). A SWOT analysis is a tool that canbe used for organisation's auditing and its environment and to make it enable for makingdecisions in every type of conditions in a business. The SWOT can be used for the followingpurpose by the BA:Market position of BA can be compared with its competitors.Services in BAA business idea in BAStrategic planningPartnership with other companies as it is entering into new market.4
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