Marketing Planning for Business Assignment
Added on 2019-12-03
15 Pages4870 Words133 Views
MARKETINGPLANNING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Reviewing changing perspective in marketing planning..................................................11.2 Evaluating organization capability for planning future activities....................................21.3 Techniques for organizational auditing............................................................................21.4 Carrying out organizational auditing and analyzing external factors...............................32.1 Barriers to marketing planning.........................................................................................52.2 Solutions for overcoming the barriers..............................................................................5TASK 2............................................................................................................................................63.1 Marketing plan for a new service.....................................................................................63.2 Marketing planning is essential in strategic planning process.........................................63.3 Examining techniques for new product development......................................................73.4 Recommendations for pricing policy distribution and communication mix....................74.1 Ethical issues which affects marketing activities.............................................................94.3 Consumers ethics affecting marketing planning..............................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11ILLUSTRATION INDEXIllustration 1: PEST and SWOT analysis........................................................................................3Illustration 2: Product, Price and communication mix....................................................................8INDEX OF TABLESTable 1: Gantt chart.........................................................................................................................7
INTRODUCTIONMarketing planning constituting marketing plan is a type of business document which ismade for the purpose of describing current market position of a business organization and itsmarketing strategy for time period covered under the business plan. It is developed byorganization for systematic functioning of business operations in order to achieve goals andobjectives (Hollensen, 2015). Further, marketing also helps in transfer and exchange of gods andservices with the help of different intermediaries. Moreover, the core importance of marketing isthat it creates employment for the individuals as role of marketing has been spread within thisdecade or so. In order to understand marketing planning in a definite manner, organizationundertaken for the present study is Argos Company which is a retailer organization having itsoperation only in UK and Ireland and it is a subsidiary of Home Retail Group. This presentreport focuses on reviewing the changing perspective in marketing planning. Further, this reportwill have emphasis on organization auditing for analyzing the internal and external factors. Thisreport will further access on main barriers of marketing planning.TASK 1 1.1 Reviewing changing perspective in marketing planning Situational analysis- This plays an important role for Argos as sometimes organizationown plan can lead themselves into a big problem. Being a trusted retail organization inUK, Argos has to fulfill their customers’ demands by identifying their necessities andwants. Further, this shows that cited company have to determine the market demand,customer's taste and their competitor’s strength and weakness (Huang and Sarigöllü,2012). By analyzing all the above factors, mentioned retail company can now comparetheir own position in the market place.Further, mentioned company can conduct SWOT,PESTEL, Porter Five Force model in order to see the stability and competence of thecited organization. This will certain help Argos to give tough competition to their majorcompetitors like Tesco, Asda, Sainsbury and company can get competitive advantagewith it. Marketing mix element- Marketing mix elements consists of product, price, place,promotion. Apart from these elements, Argos also focuses on excellent features ofproducts and service, packaging and building goodwill. These all elements attract1
consumers towards organization products. However, price of the product plays a specificrole as organization focuses on developing best of the products to their customers at areasonable price. Furthermore, organization stores are at convenient place and they areeasily accessible by customers for shopping.Market-led strategy- Market-led is a strategy where Argos identifies the needs and wantsof consumers and these needs helps mentioned organization to develop and serveproducts and services to customers. This process is only possible when aforesaidcompany do a specific market research. 1.2 Evaluating organization capability for planning future activities Organization capability is considered as ability of company which is generally verbalizedin the form of human resource, physical and material resources like machines land as well asbuilding, financial resource as well as different intellectual resources. Argos is considered as oneof the recognized brand in UK in retail sector. Corporate is trying their best to give their topcompetitors a stiff competition by increasing the size of products (Dibb and Carrigan, 2013).Further, mentioned company is focusing on a marketing plan which shows clear stated objectivesfor coming years. Organization is successful because of their prior concentration on a specificcountry as Argos having its existence only in UK and Ireland. Cited company can successfullyimplement their all the major resources especially the human, financial and physical and materialresources for getting a competitive advantage as this will help Argos to increase more of therevenue and productivity.Furthermore, organization has a wide range of products which are categorized in differentsegments which satisfies individual’s needs up to a great extent. Argos also has many owned andexclusive brands which gives customers lot of confidence when they buy some product fromaforesaid company. Moreover, organization is considered as number one in some productcategories. Along with their retail outlets, Argos has approx. 900 million websites and app visitsby their potential customers. Mentioned company also constitutes more than 53000 productswhich automatically attracts consumers towards their products. 1.3 Techniques for organizational auditing There are various ways of organizational auditing which Argos can implement in order toincrease their products size as well as revenue and profit with developing their product Portfolio2
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