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Marketing Planning - Superdrug Store

   

Added on  2020-01-07

21 Pages6747 Words357 Views
Marketing Planning

TABLE OF CONTENTSINTRODUCTION ......................................................................................................................................3TASK 1.......................................................................................................................................................31.1 Assessment of changing perspectives of marketing planning...........................................................31.2 Organization's capability for planning its future marketing activity.................................................41.3 Techniques for organizational auditing and external factors analysis...............................................52.1 Barrier to effective marketing planning............................................................................................62.2 Measures that used Superdrug Store Plc to overcome these barriers................................................73.1, 3.2, 3.3 and 3.4 Marketing plan.......................................................................................................84.1 Ethical issues influence marketing planning...................................................................................104.2 Response to ethical issues...............................................................................................................114.3 Customer ethics and its impact.......................................................................................................11TASK 2......................................................................................................................................................111.4 Analyse Superdrug Store Plc using the tool mentioned .................................................................11CONCLUSION.........................................................................................................................................12REFERENCES .........................................................................................................................................14

INTRODUCTION Marketing planning deals with the fulfilment of organizational goals and provide strongbase to the company’s strategies. It has been noticed that by having improved focus on marketingplanning the business firm can easily accomplish goals and objectives. It facilitates indevelopment of activities that are beneficial for advertising and promotion of products andservices (Beller, Weiss and Patler, 2007). It has been identified that industrial trends can also bepromoted effectively by having improved focus on marketing planning. Strengths andweaknesses of the association can be identified with the help of marketing plans. In present report work culture of Superdrug Store Plc will be evaluated so that betterunderstanding can be gathered in regard to marketing planning. In this, review of changes inperspective of marketing planning will be provided so that management can understand currenttrends of marketing effectively. It will also provide information in regard to key barriers that abusiness may face in respect to marketing planning. Furthermore, the learning about ethicalissues and their impact on the marketing planning must be evaluated effectively so that goals andobjectives can be accomplished in desired way.TASK 11.1 Assessment of changing perspectives of marketing planningMarketing planning is the process of making different types of promotional plans andestablishing communication with consumers in an appropriate way. In addition to this, it can besaid that by having improved focus on marketing plan the business firm can easily create betterbrand image in the competitive market. Along with this, building good relationship withcustomers is also one of key benefit that can be attained by business entity while havingimproved focus on marketing planning (Betz, 2011). In this respect, management of SuperdrugStore Plc is also focused towards offering the best products and services at appropriate pricing. Ithelps in meeting customer needs and lead business firm to impressive level of success. It hasbeen noticed that in order to deal with highly competitive market the business firm likeSuperdrug Store Plc is focused towards changes in activities. Innovation and transformationaccording to customer needs is most suitable because it helps in meeting objectives (Bowhill,2008).

In addition to this, it can be said that companies are focusing on four principles ofmarketing in which planning in regard to four factors is being considered as critical aspect. Forexample, product, price, place and promotion. But in order to boost the effectiveness ofmarketing planning process the use of technological tools has been taken into account. It is oneof key reason that internet websites, social media and online advertisement use has increased inrecent years. Superdrug Store Plc also make sure that packing of products is also appropriate sothat more and more customers can be attracted. It will assist in effective development of brand sothat goals and objectives can be accomplished effectively (Dibb and Simkin, 2008).Businesses has also started focus on external factors analysis so that overall productivitycan be improved. Along with this, situational analysis is a method that allows to have betterbranding of products and services because it allows to have designing of strategies according tocustomer needs. In order to promote the ethical planning the management of Superdrug Store Plcalso consider legal values in appropriate manner so that goals and objectives can beaccomplished effectively. Market research also help business firm to understand the key valuesthat are directly associated with market. 1.2 Organization's capability for planning its future marketing activityIn order have effective designing of marketing activities, it is significant for businesses tohave proper understanding in regard to organization. Businesses must understand the keystrength and weakness so that better strategies can be designed in order to meet goals andobjectives. Strengths:Company is holding great brand imagein the competitive market that attractswide range of customers. Organization offer wide range ofhealth and skin care products that alsohelps in advancement of market share.Business model is well developed andmembers within organization are welltrained that also helps business entityto meet its goals and objectivesWeaknesses:Distribution channel of business firm isnot well structured that impacts overalldevelopment in negative manner. In addition to this, financial issues alsoimpact the business of Superdrug StorePlc so management also need toconsider it as significant aspect. Limited ratio of suppliers alsoinfluences the overall developmentbecause work effectiveness get

(Evans, Jamal and Foxall, 2009). Superdrug Store Plc is also offering itsproducts at low cost that also helpsbusiness firm to meet the key needs ofcustomers. Improved availability of humanresource is also beneficial for businessfirm. impacted in desired way. Products are not available easily in themarket that also influences workeffectiveness.Opportunities:Company can have businessexpansion in UK as well as othernations like India, Japan, etc. Organization can also look overnumber of additional sources thathelps in effective management offinance. Online media presence can also beimproved by having improved focuson diverse electronic medium. Company can also focus on number oftools that helps in building betterbrand image so that goals andobjectives can be accomplished indesired way. Company can also have changes in itsproduct line according to customerneeds and market trends. Threats:Number of competitors are havingoperation within UK that mayinfluence the working of organization. Economic conditions are not stable thatmay also influence business in diversemanner. Customer needs are also changing inrapid manner that may also influencethe business development. It issignificant for business entity to havechanges in product line as per customerexpectations (Gilmore, 2003).1.3 and M1 Techniques for organizational auditing and external factors analysisIn order to have effective analysis of diverse factors, it is significant for business firm tohave improved focus on techniques. PESTEL Analyses model is to be used. While analysing thistools company can evaluate the external factors and forces that affects the operations and

business strategies. It has analysed all external factors like political, environmental, social,technological, legal and economic factors while developing their business operations.Thisanalysis has helped them to recover all the factors directly affects the growth of the company.Along with this, company can also focus on use of porter five force. It has been noticed that byhaving improved focus on this technique the business entity may have analysis of supplier andcustomer needs. It is beneficial to have effective designing of strategies so that goals andobjectives can be accomplished. Competition: It has been noticed that Superdrug Store Plc is facing high ratio ofcompetition in the market which impacts the business development in diverse manner. Itis significant for business entity to have changes in services and products according toproduct line of competitors (Hooley, Saunders and Piercy, 2009). It will lead businessfirm to impressive level of success. There are number of businesses that offer same kindof products at same prices so decision of Superdrug Store Plc must be according tocompetitive aspects. Bargaining power of buyer: Customer bargaining power is high because the success ofbusiness is dependent over customer satisfaction. It has been noticed that customers’needs are changing in rapid manner that also impacts the business development in diversemanner. If company is not meeting key needs of customer then they can switch to anotherfirm. It might affect the business of Superdrug Store Plc in negative manner. Bargaining power of suppliers: Supplier bargaining power is also high because there arevery limited suppliers who are operating in the market. It means company does not havemore options in the market so supplier charges for services as per their needs. Lessviability of suppliers also impact business in negative manner because they holds highbargaining power (Luther, 2011). New entry: Threat of new entry is low because production industry demands high ratio ofinvestment. It is one of critical task for new business to have high investment in themarket. Along with this, number of license are also required that helps in meeting keygoals and objectives. It is not easy for new business to meet these standards in effectivemanner. Organisational

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