MKT 571 - Elements of Market Plan
Added on 2020-03-01
14 Pages4747 Words71 Views
Running Header: Elements of Market PlanElements of Market Plan Authors ID:Authors name:
Elements of Market PlanExecutive summaryThe below presented report is the marketing plan for Oxfam Australia which is a charitableorganization engaged in solving the issues with poor individuals. The business entity is totallyengaged in solving the issues and the problems which are faced by the poor individuals withinAustralia and other regions too. Moreover, the marketing plan has been segmented into varioussections which are summarized as follows. The first part consists of the approach of situationalanalysis which further comprises of analysis of the market and also the various segments such asthe industry, consumer’s and the company and for explaining these approaches the tools such aspestle and SWOT is used. The next is the part b which comprises of the marketing objectives andthe strategies. The objectives and strategies are further divided in targeting and positioningstrategy and Ansoff matrix is also described at the end. The further report consists of themarketing mixes which are presented for determining the current position of the company andalso of the products. By making use of the marketing mix the entity can enhance the currentposition of the products in the market and also the action plan is developed at the end so as tosolve the problems or the issues which have been raised while establishing the marketing plan.And at last reflection over the below developed marketing plan has been presented.
Elements of Market PlanContentsIntroduction.................................................................................................................................................4Part A..........................................................................................................................................................4Situational analysis..................................................................................................................................4Description of consumers and market..................................................................................................4Market analysis: Pestle analysis...........................................................................................................5Industry analysis..................................................................................................................................6Competitors analysis: SWOT analysis.................................................................................................6Critical issues......................................................................................................................................7Part B...........................................................................................................................................................7Marketing objectives and Strategies........................................................................................................7Critical issues......................................................................................................................................7Products...............................................................................................................................................8Marketing objectives...........................................................................................................................8Marketing strategies............................................................................................................................8Marketing mix Decisions and Actions...................................................................................................10Action plan........................................................................................................................................11Conclusion.................................................................................................................................................11Recommendations.....................................................................................................................................11Reflective statement..................................................................................................................................12References.................................................................................................................................................13
Elements of Market PlanIntroductionA business document which can be utilized by any of the business corporation foroutlining the marketing tactics and the strategies can be termed as a marketing plan. The abovementioned concept is a broader term and involves a varied range significant approaches andmodels which are liable in impacting the business environment of the business organization. Thedocument also describes the advertising and marketing efforts which are required to beimplemented by the corporation for attaining the long term results. The marketing plan is not astatic document like a business plan, it requires timely modifications and changes, as thebusiness grows and also as per the changing trends of marketing (Anheier, 2014). A marketingplan is a detailed description of the activities which are involved in attaining some specificmarketing objectives for a time being. It also aids in determining the current position of thebusiness corporation in the market place, targets segmented, marketing mix used and also themarketing goals which are to be accomplished. The marketing plan is a formal document but canalso be used as an informal one and this makes it very flexible. The main purpose of developinga marketing plan is to set the entity on a specific path in terms of marketing. This document hasalso been considered as general responsibility from the leaders and the marketing team to leadthe entity towards a winning direction. The below executed analysis has been made focus on themarketing plan of Oxfam Australia is an Australian, autonomous, not-revenue driven, common,group based guide and advancement association, and a member of Oxfam International. Thebusiness entity believes that all human being and their lives are equal and no individual shouldlive in poverty. Moreover the entity believes that they are on the grounds of empowering thesociety for tackling the issue of poverty. The below mentioned are the main components onwhich the marketing plan has been developed. Part ASituational analysis Description of consumers and marketThe business corporation's target market offers focus to individuals who need help from variousworldwide parts that basically depend on the beneficent association's division (Hollensen andOpresnik, 2015). Moreover, Oxfam Australia also concentrates on neediness, education family,and well-being. The association's demands get impacted by different determinants like world'sfinancial conditions and different political events and happenings on the planet like infectionflare-up and psychological warfare. In addition, it is likewise vital to stress on the differentshowcasing arrangements being used by Oxfam in advancing their backings over the world.In the 21st century, both profit and non-profit organizations confront various difficulties. Thequick economy condition changes in global and national circle require these organizations torecreate and actualize new destinations, procedures to address the new difficulties. The
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