Marketing Planning of Britvic Company - Report

   

Added on  2020-01-21

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MARKETING PLANNING
Marketing Planning of Britvic Company - Report_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Changing viewpoint in marketing planning.....................................................................11.2 Britvic's capabilities to plan for future operations in GB.................................................21.3 Techniques for organizational auditing and for analysing external factors impact onmarketing planning.................................................................................................................21.4 Organizational auditing and external factors analysis impact on marketing planning.....3TASK 2............................................................................................................................................42.1 Barriers to marketing planning.........................................................................................42.2 Ways to overcome the barriers to marketing planning.....................................................4TASK 3............................................................................................................................................53.1 Marketing plan for a product............................................................................................53.2 Significance of marketing planning in strategic planning process...................................63.3 Techniques of new product development.........................................................................63.4 Recommendations for distribution, pricing policy and communication mix...................73.5 Factors affecting marketing plan implementation............................................................8TASK 4............................................................................................................................................94.1 Influence of ethical issues on marketing planning...........................................................94.2 Ways of responding ethical issues by organizations........................................................94.3 Consumer ethics in marketing planning...........................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
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INTRODUCTION Marketing Planning refers to the strategy of targeting customers, identifying their needsand providing them suitable product at the price as they want (which make profit to the business)(Marketing planning, 2016). To determine customer's demand is the essential tasks whilegenerating plans. In this context, present report has been prepared with a motive to attain deepunderstanding of marketing planning. For this purpose, Britvic Company is taken into accountwhich deals in wide range of soft drinks in different flavours and taste. This company is planningto introduce a new product in the market which requires a bright and innovative research over theproduct development. With the purpose to conduct research and making it suitable for marketingplanning, this report includes topics like marketing audit, barriers in marketing planning,formulation of a marketing plan for the new product and ethical issues in marketing.TASK 11.1 Changing viewpoint in marketing planningMarketing audit and reviews are essential to understand the existing market scenario inthe global as well as local market. Traditional marketing planning deals with the four P's(product, price, promotion and place) and the motive of profit maximisation, but as per themodern marketer's suggestions for the new modern market planning, it rejects the traditionalmethod of planning. As traditional approach of market planning is profit and sales orientedwhereas, on the other side, modern approach is customer oriented. Varied perspectives whileanalysing market and customer's requirements would help in completing the task of generatingplan. Further, it assists company to consider possibilities and pitfalls that thwart marketing andact as barriers in the way to succeed (Banasiewicz, 2005). Now days, Costumer Perception concept is trending in the market which results bettergrowth of the business. Performing organisational activities on the basis of scientific facts andfigures, listening to the market, knowing the consumer taste, identifying market demand,analysing competitor's limits as well as its strengths etc. would accumulate better outcomes.Accordingly, industries like Britvic should generate contingent plans for marketing with thepresent perceptive of market situation and its demand.1
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1.2 Britvic's capabilities to plan for future operations in GBBritvic's capability is strong while planning the marketing research and procedure forraising the number of customers in Britain in current time period. This is due to the customer'sloyalty and interest so that Britvic is increasing its profit and position in the market. Company'splanning is to expand its business through increasing its business operations for new productdevelopment in Britain and in the international market, it is focusing on increasing itsperformance and development (Ewing, 2009). The rate of growth is expected to be rise with aslow gait as now costumers are more focused to their health (Britvic Plc, 2006). Below aspectswhich affect and drive per capita consumption of the bought soft drinks: Finance - Basically, it contributes 1- 2% to revenue line of Britvic GB group in acomplete year.Competitors – Company’s per capital consumption rises against the 3% of hotdrinks, 3% of dairy drink and 6% of other drinks (Britvic, 2014).Rising Population – as per the growing population of Britain i.e. presently from 64.1million to estimated 70 million (Population & Migration, 2015).Lifestyle –People in the age group of 15-25 years generally prefer soft drinks ratherthan any other drinks.New channel of Distribution –Company is focusing on new sector, i.e. leisure andtourism for the distribution of its soft drinks in GB market (Hawkins, Bulmer andEagle, 2011). 1.3 Techniques for organizational auditing and for analysing external factors impact onmarketing planningKey-factor used to achieve the market strength for Britvic is to focus on targetedcustomers in marketing planning. Significant role of the organization is to understand its clientsand bring a positive outcome. It includes organizational auditing through internal and externalfactors of environment in the organization. Factors are classified as external and internal whichare further specified as:Internal factors –It includes the number of important factors that directly or indirectly play vitalroles in Britvic's operations and activities that determine the viability for the company internally.Managing and controlling the internal aspects are much familiar as compare to the externalfactors of the organisation. Internal factors for Britvic are:2
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