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Assignment of Marketing Planning

   

Added on  2019-12-03

16 Pages5060 Words143 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 ................................................................................31.4 Carrying out organizational auditing and analyzing external factors ..................................32.1 Barriers to marketing planning .............................................................................................42.2 Solutions for overcoming the barriers ..................................................................................5TASK 2............................................................................................................................................63.1 Marketing plan for a new service .........................................................................................63.2 Marketing planning essential in strategic planning process .................................................73.3 Examining techniques for new product development ..........................................................73.4 Recommendations for pricing distribution and communication mix ...................................84.1 Ethical issues which affects marketing activities .................................................................94.2 Organization responding to ethical issues ............................................................................94.3 Consumers ethics affecting marketing planning ..................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11INDEX OF TABLESTable 1: GANTT CHART...............................................................................................................8

INTRODUCTIONMarketing planning comprises a marketing plan which is treated as a business documentand it is generally developed by business venture to describe current market position of acorporate along with their future strategy. Marketing planning usually covers a period forapprox. 1-5 years. In this context, efforts have been incorporated to prepare this report whichinvolves key concepts related to marketing planning (Beamish and Ashford, 2007). Further,marketing also helps in transferring and exchange of gods and services with help of differentmediators. Moreover, the core importance of marketing is to create employment for individualsas functions of marketing has been spread within a decade or so. The organization undertaken forthe present study is Made. Com which is online designer furniture retailer based in England.Organization has become so popular in half a decade that it generally broadcast two new stylesevery week. Further, cited company having its operations in UK, Ireland, France, Italy,Germany, etc.This present report will focus on reviewing the changing perspective in marketingplanning. Along with it, this report will also have its core emphasis on organization auditing inorder to analyze the internal and external factors. This report will further access on main barriersof marketing planning.TASK 1 1.1 Reviewing changing perspective in marketing planning Marketing mix elements- These elements consists of product, price, place, promotion andmentioned company consider all these things before making product available for theconsumers (McDonald, 2007). Moreover, apart from these Made. Com also focuses onproducing the best quality of furniture along with attractive packaging as this will helporganization to raise their goodwill. Market-led strategy- Market-led is a strategy where Made.com identifies the needs anddemands of their consumers and these needs help cited firm to develop and serveproducts and services to their large consumer base in London along with different othercountries. Further, this process is only possible when mentioned organization do aspecific market research.1

Situational analysis- Organization have to conduct a situational analysis in order to seetheir effectiveness and performance. Further, Made.com can conduct SWOT, PESTEL,Porter Five Force model for seeing the stability and competence as compared with theirother competitors. Further, this shows that cited company have to determine the marketdemand, customer's taste and the strength and weakness of their major competitor in thefurniture industry (Luther, 2011). After analyzing all the necessary factors, Made.comcan compare their own position in the market place for getting competitive advantage.Internet marketing and social media- As technology is changing rapidly, cited firm needto promote their furniture and other products with the help of different internet tools inorder to increase more of their productivity and efficiency.1.2 Evaluating organization capability for planning future activities A core competency for Made.com resulting from a specific set of skills or productiontechniques that generally used to deliver additional value to the customer so that his needs andwants get fully satisfied. Further, these core competencies are related with the mentionedcompany product portfolio with the help of their core furniture products. Cited firm in order toget a competitive advantage shall focus on conceptual skills, technical skills along with thebusiness skills. Organization capability is treated as an ability of organization which is generallyexpressed in the form of human resource, physical and material resources, financial resource aswell as different intellectual resources in order to achieve organization goals and objectives.Made.com started in 2010 and slowly and steadily organization able to win hearts of thousandsof consumers and the strength of employee's generally raised to 160 who are spanning acrossdifferent offices of the corporate (Stephenson, 2005). Further, cited furniture company isfocusing on a developed marketing plan which shows clearly stated objectives for coming timeperiod. Moreover, Made.com is also flourishing because of their major concentration on specificcountry only. In this context, cited company focusing majorly on England and Ireland market inorder to increase more of their furniture sale and productivity.Further, employees giving their best of the response in order to increase organizationrevenue along with the goodwill of the firm. Further, design, architecture of furniture is s classythat individual will seek to purchase just in a single look. Moreover, Made.com having differentrange of their furniture products which are generally classified into different segments whichsatisfies the customers needs till a great extent (Donnelly and et.al., 2009). Mentioned2

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