Marketing Planning Process Analysis

Running head: MARKETING PLANNING PROCESS ANALYSIS
MARKETING PLANNING PROCESS ANALYSIS
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1MARKETING PLANNING PROCESS ANALYSIS
Introduction
Strategic marketing planning can be defined as a process that is implemented by a
company in order to develop marketing plans and strategies in order to offer the products to a
target market. The process is mainly applied in order to analyse the current position that has
been developed by the company in order to identify the promotional opportunities and further
evaluating the opportunities as well (Coffie and Blankson 2018). Bunnings Warehouse is a
household chain of hardware of Australian origin. The chain is owned by the major
Australian conglomerate Wesfarmers from the year 1994. The organization has its stores in
different parts of Australia and New Zealand. The analysis will be based on the ways by
which the ineffective usage of different components of strategic marketing planning method
can affect the operations of Bunnings Warehouse after expansion in different countries
(Bunnings.com.au 2019).
Identification of the key components “strategic marketing planning” process that are
not conducted effectively by the company
The components of strategic planning need to be considered by an organization in
order to maintain the operations in an effective method. The three major components that can
be considered for the study of the issues that have been faced by Bunnings Warehouse
include, market research, competitive analysis and market strategy. The organization had
not been able to conduct the market research based activities in an effective manner when
Bunnings planned to enter the United Kingdom in the year 2018 (David and David 2017).
The parent organization Wesfarmers was not successful in planning for the expansion based
operations of Bunnings in an effective manner. Bunnings had aimed at acquiring the store
named Homebase in order to enter the UK market. The company had been following the
strategy of differentiation while operating in its home country. However, the expansion of