Concept and Significance of Marketing Plan : Assignment

Marketing Planning

Table of Content
INTRODUCTION...........................................................................................................................1
1.1 Changing perspectives in marketing planning......................................................................1
1.2 Capability for planning future marketing planning...............................................................2
1.3 & 1.4 Organisational Audit and impact of external factor on marketing planning in
competitive business environment..............................................................................................2
2.1 Main barriers in marketing planning encountered by IKEA.................................................4
2.2 Suggesting the measures that can be used by IKEA for overcoming barriers to marketing
planning.......................................................................................................................................5
Task 3...............................................................................................................................................5
3.1 Marketing plan for launch of new Ikea product....................................................................5
3.2 Significance of strategic planning process for IKEA............................................................8
3.3 Identifying techniques for new product development within IKEA.....................................8
3.4 Justifying suggestion for pricing policy, distribution and communication Mix IKEA.........9
3.5 Factors affecting the effective implementation of marketing plan of IKEA......................10
TASK 4..........................................................................................................................................10
4.1 Evaluating influence of ethical issues in marketing planning within IKEA......................10
4.2 Analysing examples the way Ikea can respond to ethical issues........................................11
4.3 Consumer ethics and the effect it has on marketing planning within IKEA.......................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing planning refers to the blueprint that provides outlines for advertising,
promoting products. It provides description about business activities that are to be involved
for achieving organisational goals within a set of frame. IKEA company has been selected
for analysing the significance of marketing plans. The company is multinational
organisation, designing and selling ready to assemble furniture, kitchen appliance and home
accessories.
The study has focus in explaining the concept and significance of marketing plan.
The report provides various ways for conducting audit in order to analyse influence of
various factors. This assignment includes information about various barriers and provide
various measures to organisation to deal with such issues.
1.1 Changing perspectives in marketing planning
Market is a dynamic place that is quite unpredictable and keep changing, IKEA to
stand in this ever changing market has to make important changes so that they can meet the
demand of there customer. Marketing planning help IKEA to consider the business objective
and also help to maintain a communication with there customer while promoting there
product and services. An effective market planning helps company to create a well defined
structure for implementing different marketing strategies. The main aim of marketing is to
sale the product or services of firm to there customer. There has been great change in
marketing to satisfy the demands of there customer, various tools and strategies have been
initiated by organisation to achieve there goals. Today market is more focus on the modern
trends, organisation instead of being profit oriented pay more attention to maintain long term
relationship with there customer and try to earn there loyalty. Even the traditional model of
marketing mix of 4p's has modified to 7p's .
This assist IKEA to work in right direction to achieve there customer satisfaction and
also increase there market share. New marketing planning also put emphasis on external and
internal environment which play big role in business decision of an organisation. This all
new changes has been accepted by IKEA as it put more focus on the customer satisfaction.
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Illustration 1: 7P's of marketing
source:(The 7 Ps of Marketing