Importance of Marketing Plan

This presentation discusses the importance of marketing plan in achieving business targets and increasing market size and profits. It includes a case study of Co-Op food, a British food organization operating in the food retail industry.

REPORT

TABLE OF CONTENTS
PART B
Introduction
Purpose of Marketing Plan
Importance of marketing plan
Development and implement of marketing strategy
CONCLUSION
REFERENCES

INTRODUCTION
Marketing plan can be defined as an operational document which outlines
advertising strategy for organisation that is implemented by management to
accomplish their targets within minimum time period. The main aim of
marketing plan is to launch or introduce new product in the market for
enhancing market size and profits for firm. This report is based from
perspective of Co-Op food which operates its business in food retail
industry. It is a British food organisation that operates various stores in UK
and other market.

Purpose of Marketing Plan
Marketing plan and research support for utilise various decisions which is used to lead
and develop business among different areas. With use of effective research it is also
analysed that market plan helps to accomplish certain demographics and geographical
areas. Along with this with right target market is used to accomplish total aspects
which are used for using geographical section in market. Moreover, with right
marketing plan management consider to use correct metrics which assess better
marketing efforts for organisation. Maintaining initiatives increase necessary aspect
that generates more return on investment because marketing plan adjust better results
to increase cost for organisation. Current marketing plan of Co-op is used to increase
market share and management also increases its share to manage better marketing
plan.

IMPORTANCE OF MARKETING
PLAN
Plan is used for generating managing that lead to complete work as per time
basis and it is used for increasing co-operative results for expanding aim that
provides various job opportunities and open different shops in upcoming
year with implement of right marketing plan. There are various task
performed by management to complete its work. Similarly, management of
Co-op food utilise different technique which is increasing market
perspective for changing and modifying different places for market that
manage major players through developing competitive edge in market
through implementing plan steps in organised manner.

DEVELOPMENT AND IMPLEMENT
OF MARKETING STRATEGY
Marketing strategy refers to comprehensive plan which is formulated for
accomplish of particular results that match with marketing objectives. A
marketing strategy also help organisation to concern resources which
provides best possible outcomes and resources to increase sales of products.
There are various task performed by management to complete its work.
Similarly, management of Co-op food utilise different technique which is
increasing market perspective for changing and modifying different places
for market that manage major players through developing competitive edge
in market. From the perspective of Co-op food management consider that all
results must match with STP process and strategy in organisation.

CONTINUE…
Segmentation- It is the first step that is impacting on organisational goals
that is used for identifying potential customers in order to convince them for
buying organisational products. In simple terms it refers to complete of all
work that enhances market area by dividing market aspects into easiest
manner through understanding aspects of management that leads to manage
work by understanding commonalities into most refined manner.
 Food retail business is used to satisfy needs and wants of customers
through completing work and satisfying it according to needs of buyers.
This refers food retail business generate interest by convincing past
customers to turn them into loyal customers by utilising demographic
business factors.

CONTINUE…
Targeting- This is next step for STP that is used to target customers and it
also focuses that management must consider all those areas through which
accomplishing for managing potential and commercial attractiveness for
each segment. Co-op enhances its target market through accessing those
areas that leads to define products with justify segment.
 Size is first aspect which is used to target those individuals that is also
depends on size of market as it is small and large. Due to this market size
for each individuals determine that longer results are accomplish through
segment of market for each area.

ROLE OF MARKETING MIX
Marketing mix can be defined as an effective combination of factors which
is controlled by organisation for influencing consumer to purchase its
products and services. There are various 7P’s are formulated that provides
essential aspects which is used for providing essential aspects related with
consumers. Co-op food utilise marketing mix technique to provide
information about marketing plan that leads to gain specific outcomes which
relates with online tools of market.

CONTINUE…
Product- Co-op food is providing wide range of products which includes
food items, clothes, financial services and electroic segment. It is also
expanding product lines that offer all possible needs that leads customers to
expand market area. Co-op food utilise online marketing sector for
completing all work in proper manner. Further, this tools mainly consider
that online tools complete task to increase market area. Management is also
providing wide variety of choices that leads customers to offer various
chocies that consider to make presence in international market.

CONTINUE…
Price- Accoding to this phase of marketing mix it is analysed price is a
crucial aspect for management that is impacting on organisational goals and
objectives. From perspective of Co-op it is analysed that rival companies is
increasing its market size through reducing price. So to deal with them
management focuses on providing benefits through scheme of co-operative
membership (Souza-Monteiro and Hooker, 2017). This results now those
individuals are also selected which provides benefits scheme to all workers
and buyers.

CONCLUSION
From the above report, it is analysed that there are various task and operations
performed by management but to manage them in an organised manner it is mandatory
for developing marketing plan. This also leads to complete work with motive of
understanding those aspects that leads to gain high market share such as strategy for
business. Along with this management summarise also aspects which current situation
that manage market research for completing projects with market research aspects. In
last, methods for enhancing market research are also included in this report which
increase growth of business.

REFERENCES
 HOANG, M.G., Fujiwara, T. and PHU, S.T.P., 2017. Municipal waste
generation and composition in a tourist city—Hoi An, Vietnam. Journal
of JSCE, 5(1), pp.123-132.
 Phu, S.T.P and et. al., 2019. An analysis of the commercial waste
characterisation in a tourism city in Vietnam. International Journal of
Environment and Waste Management, 23(3), pp.319-335.
 Ratner, C., 2015. Neoliberal Co-optation of Leading Co-op
Organizations, and a Socialist Counter-Politics of Cooperation. Monthly
Review, 66(9), p.18.