Strategic Marketing Plan

Strategy 1 Strategic Marketing Contents Introduction 3 Marketing techniques and impact on the marketing plan 4 Marketing approaches 5 Risk related to the marketing plan 6 Components of the marketing plan and its importance 7 Mitigation strategies for high risks components 8 Marketing Plan 9 Process of the plan that supports the objectives 10 The approach of a marketing plan that changes organization actions 11 Review measures for the agreed plan 12 Conclusion 13 References 14 Introduction This report includes various process used in the strategic marketing process. 1.1 Marketing techniques and impact on the marketing plan

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Strategic Marketing

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Contents
Introduction......................................................................................................................................3
Marketing techniques and impact on the marketing plan................................................................4
Marketing approaches......................................................................................................................5
Risk related to the marketing plan...................................................................................................6
Components of the marketing plan and its importance...................................................................7
Mitigation strategies for high risks components..............................................................................8
Marketing Plan.................................................................................................................................9
Process of the plan that supports the objectives............................................................................10
The approach of a marketing plan that changes organization actions...........................................11
Review measures for the agreed plan............................................................................................12
Conclusion.....................................................................................................................................13
References......................................................................................................................................14

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Introduction
This report includes various process used in the strategic marketing process. The report states
several marketing techniques used in the organization and that also affect the marketing plan.
The marketing process is essential for the organization and it increases the sales of the business.
By using the strategic marketing process, the business gets a proper value in the market. Several
marketing methodologies and approaches are discussed in this report. This approach plays an
important part in the marketing plan process. The marketing plan includes various risks and these
risks discussed in this report. The marketing plan includes various components that provide
several benefits to the success of the marketing plan. The report includes several mitigation
strategies that manage the high risks of the marketing plan. The strategic marketing plan includes
the several objectives of strategic marketing, which is described in the report. This plan helps the
organization in achieving its strategic objectives.

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1.1 Marketing techniques and impact on the marketing plan
The marketing techniques are very useful in the overall process of the organization. Marketing
techniques increase the overall benefits of the organization. There are several marketing
techniques, which is the relationship marketing strategies, diversity-marketing techniques, and
seasonal marketing techniques (Kerin and Hartley, 2015). All these techniques are different and
help to achieve several marketing objectives. The relationship marketing techniques are related
to the relations in the organization that is related to the several processes of marketing. The
relationship strategies are very important in the overall process of marketing as it defines the
relations among the various marketing aspects. The relationship marketing strategies and tools
networking online and off which is a relationship-marketing technique (Rogers and Davidson,
2015). Listen to the customers to make the proper relations, build a brand identity and provide
the customer's free information and special events.
The other technique is the diversity marketing technique, which is the new way of
communicating that involves several diverse groups. The various marketing methods are
included in this strategy to appeal to the various groups as per the cultural differences, genders
and races. The smart marketers adopt this strategy and the several communication methods are
involved in this process (Fan, et al., 2015). This gives a large effect on the marketing plan as it
includes in the marketing plan and different techniques satisfied different customers thus the
overall marketing plan is affected.
The other technique of marketing is seasonal marketing technique in which marketing of
products is used at certain points of the year. The seasons like festivals time and other
ceremonies time are included in this strategy. However, seasonal marketing is not related to
official events. This creates several opportunities for the business and improves the profitability
for a certain period. This also affects the marketing plan of the organization. This process affects
the overall components included in the marketing plan of the specific organization.

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1.2 Marketing approaches
The marketing approaches are very essential for the organization and it increases the productivity
and profitability of the organization. The marketing approaches also contribute to the marketing
plan. The main approach of the marketing process is the selling approach that is used to increase
the sales of the products (Mitlestedat, et al., 2015). The needs of the customers are included in
this process. The selling approach is based on the needs of the consumer. This is developed by
the salesperson or by the organization to make the selling effective in the organization. The
selling approach made by the experienced salesperson is different from the recently appointed
salesperson. The sales of the organization all depend on the overall process of the products
management. This strategy is very much essential and useful to increase the sales of the
organization. Much organization follows this approach to make the selling effective in the
marketing purpose. The main example of this approach is Jack follows this approach and it
increases the sales as per the needs of the business as well as customers.
The other important approach id the marketing approach that use to make the marketing effective
in the organization and increasing the sales of the business (Salyova, et al., 2015). At the end by
using marketing strategies, the profitability and productivity both have increased in the business.
The various companies use this strategy for the betterment of the organization and the business
achieves proper growth by using the marketing approaches. The other main approach is the
societal marketing approach in which the various measures of society are undertaking for the use
of proper marketing strategies. The societal marketing includes the strategies that are used for the
whole society so that the customers are increased in the organization. These marketing
approaches are very important in the business as they increase the overall business of the
organization (Chernikova, et al., 2015). The main examples of using these marketing approaches
are that it increases sales, bring new customers, and introduce a new product or service and many
more. The organization establishment becomes better and the brand can famous by using the
several processes of the marketing.

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1.3 Risk related to the marketing plan
The marketing plan is one of the essential parts of the organization, this plan used to implement
the marketing strategy, and it includes several actions related to the business. This is also called
the business document and covers several types of marketing details (Mc Donald, 2015). The
marketing plan includes several components that make a proper marketing plan for the business.
The various components of the marketing plan are described below-
 Market Research: Research is one of the essential part of the marketing plan. The
research can give related information to the marketing process. The information related to
the consumers is included in the research. The research includes market growth, market
size and several current trends.
 Positioning: This includes the positioning aspect of the brand in the market place. The
position of the brand in the market place is shown in the positioning component of the
market research.
 Target market: The proper target market defines the most like buyers. The different
levels of segmentation are defined in the market process (Karimi and Naghibi, 2015). The
business target needs to define the segmentation in the overall process of the market.
 Competitive analysis: The various competitors are defined in the overall process of
market research. The one needs to know the difference between the competitors and
products and services. The various approaches to marketing are included.
 Market strategy: The marketing process is the important process used to achieve certain
goals of the company. The market place and special tactics are used in this process.
In the marketing plan, the several risks are associated with this and these risks affected all the
factors of the marketing plan. The risk related to these factors are described below-
 Demand Concentration: This is the great level of risk in the bank's portfolio that arises
from the concentration to the single counterparty or the single country. This risk arises

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from the observations that are related to the portfolio process (Kottler, et al., 2015). The
concentration risk is a type of banking risk.
 Customer Experience: The experience of the customers regarding the products is also a
type of risk in the overall process of the management. The customer experience is the key
differentiator of the business, which makes the business different from other aspects and
improves the quality of the products.
 Pricing: The price risk is also closely related to the risk factors of the management. The
price risk is the risk of decline in the security value. The investors of the business analyze
the proper value of the price risk in the organization.

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2.1 Components of the marketing plan and its importance
The marketing plan is very essential in the organization and it improves the overall marketing
strategies in the organization (Lovelock and Patterson, 2015). The components are the elements
included in the marketing plan. The components of the marketing plan and its importance are
described below-
 Analyzing the competition in the market
The analyzing of the competition is one of the important parts of the marketing plan,
which defines the overall process of the organization, and to define how the competitive
environment managed properly. The option includes two parts that are the customer's
interest and the pricing strategy (Radulescu and Cetina, 2012). Both aspects closely
related to the decreasing of the competition in the market.
 Learning about the customers
The other component of the marketing plan is to learn deeply about the customers. The
successful marketing plan made by using these components as this gives clear knowledge
regarding the taste and needs of the customers.
 Set the particular goals
The setting of the goals is also included in the components of the marketing plan and the
setting of goals is the most important part of the marketing plan. The goals help the
organization to achieve the desired targets of the company (Neystadt, et al., 2012). This
includes the process of launching the product with a proper understanding of the needs of
the customers.
 Make a different marketing strategy
The market plan strategy is one of the important components of the marketing plan and
this strategy helps to increase the focus of the employees towards work process. It
includes two components that are differentiation and focus. The focus is more important
in this process as most of the organization related to the private equity used focus process
in the market strategy.
 Analyze the loyalty of customers

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The loyalty of the customer is also important in the process of the marketing plan as the
customer's loyalty depends on the marketing aspects of the company. This improves the
marketing strategy and increases the overall sales of the organization.

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2.2 Mitigation strategies for high risks components
A risk mitigation strategy related to the components of the high risk. This strategy used to
prepare and analyze the high risk of the business organization. The risks faced in the data centre
are included in the mitigation strategy of the risk (Whallen and Holloway, 2012). The risk
mitigation strategy includes various steps to decrease the negative effects of threats and problems
arise in the business. The mitigation strategy is all about the steps taken to minimize the effects
of the threats. The components related to the mitigation strategy for high-risk components, which
are described below-
 Market Research: market research is highly related to the mitigation strategies for high-
risk components. The research of the market is very important that decrease the high risk
from the organization and increase the value of the business. The research is very
important for mitigation strategies in the business process (Iyamabo and Otubanjo, 2012).
 Competition: The competition is also a very important part of mitigation strategies of the
high-risk process. The competition defines the several processes of the organization and
defines the risk of competition in the business market (Mihart, 2012). The mitigation
strategies are used to analyze the competition of the business in the market.
 Budget: The budget is also included in the risk components as the high budget increases
the risk of the business. This budget is used for the promotions of the products and
services in the market.

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2.3 Marketing Plan
The marketing plan used to define the various strategies of marketing that are related to all over
the process of the marketing plan (Al Fahad, et al., 2015). The marketing plan helps to achieve
the goals of the business. The marketing plan includes smart objectives that include marketing
goals.
Marketing Plan
Objectives Description
Specific This helps to achieve the specific objectives
of the business. It is used to create and design
the goals of the organization. The
organization increases the profits to achieve
the objectives.
Measurable This included the numeric measures that
relate to the particular advantages of the
business. This includes the quantity, quality
and many other perspectives (Scott, 2015).
Achievable This process includes the time and control of
the organization. The team control goals and
influences are included in these objectives.
Relevant The objectives can perform in this process
and all the relevant process is included in this
process.
Time-bound Objectives define the target date for the
completion of the specific actions that help to
achieve the goals of the organization.

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3.1 Process of the plan that supports the objectives
The strategic objectives are the fundamental building blocks of the strategic plan. For all intents
and purpose of the report, the strategic objectives are used. The marketing plan helps the
organization to achieve the strategic objectives (West, et al., 2015). The marketing plan includes
the goals that need to achieve by the organization and objectives that related to the goals. Several
strategic objectives relating to the business. The strategic objectives are described below-
 Financial Growth
This process gains by using several aspects of the marketing plan. The marketing plan
helps the business to achieve financial growth and make the business independent in
managing the fund for their work. The financial growth is very important for the
organization to sustain properly in the market and the marketing plan and smart
objectives included in the plan helps the organization to become financially independent.
 Get new customers
The getting of new customers is also one of the objectives of the organization as the new
customers increase the sales and profit of the business (Cherney, 2015). The new
customers can easily get by analyzing the marketing plan, which includes the methods of
increasing the customers in the market. The marketing plan provides supports in getting
new customers for the business.
 Proper management of operations
The operations are managed with the help of the marketing plan. As marketing plan
include all the goals and objectives that gained by the plan and it helps to manage the
operations of the business.
 Proper training to the employees
The training given to the employees is also necessary for the organization as they only
provide the quality work to the customers (Cravens and Peircy, 2016). Therefore, this

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process also gets help with the set marketing plan. The marketing plan supports in
achieving all the goals and objectives.
 Maintenance of the culture
Culture management is also necessary for organizational growth as the culture include
several activities of the business. The marketing plan supports in making better culture
for doing several business activities.

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3.2 The approach of a marketing plan that changes organization actions
The stakeholder analysis is the best approach used in the agreement of the marketing plan that
changes the actions of the organization (Willson and Gilligan, 2012). The agreement related to
the marketing plan is very important for the organization to adopt the activities and knowledge
included in the marketing plan. The several actions of the organization get changes by the
approach that is the stakeholder analysis.
The approach related to the stakeholder matrix is very useful in organizational actions. In the
process of the stakeholder matrix, the various versions are there. It is an important tool to analyze
the stakeholders. The decisions of the stakeholders are included in this matrix (Hollensen, 2010).
The marketing plan agreement helps in the several activities of the organization. In the matrix of
the stakeholders, the four elements are included which have discussed below-
Meet their needs Key player
Least Important Show consideration
In the analysis of the stakeholder matrix, the 6 key stakeholder matrices are included which are
business process management stakeholder matrix, stakeholder influence grid, power and support
analysis of stakeholders, support and importance stakeholder matrix, influence and interest
stakeholder matrix and many others (Mc Donald, 2016). These matrices play an important role in
the agreement related to the marketing plan. All of the processes improve the various factions of
the organization. This system includes several potential changes, which help in managing the
organizational actions.

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3.3 Review measures for the agreed plan
The plan related to the marketing perspectives needs to review for the better implementation in
the business. The various measures included in the plan needs to review properly so that all the
measures used properly and successfully. The reviewing of the measures is the final step in any
planning progress (Baker and Saren, 2016). The reviewing is a very necessary part to evaluate
the plan and the implementation is also done after the marketing plan. There are various
perspectives are included in the marketing plan that needs to be reviewed properly. The review
of measures helps the organization in better implementation of the plan that makes for achieving
all the objectives of the organization (Lee and Carter, 2011). In the review of measures various
process needs to be followed which are:
 It ensures that activities are related to the proper strategic aims and objectives
 It ensures that activities are related to the mission and vision of the organization
 All the required information adopted by the organization
 All the external and internal changes need to be reviewed properly for implementing the
plan.
 All the members involved in the plan are reviewing in this process
 All the strategic aims and objectives need to be reviewed
 All the marketing perspectives are also included in this process
 The proper process of strategic planning is explained in the process of reviewing
The review measures are very important in the agreed plan and it increases the quality of the
marketing plan. The measures that are reviewed play an important role in the process of
implementing the plan (Ajagbe, 2011). All the marketing activities and perspectives are indulged
in the marketing plan and it helps in achieving several strategic objectives related to the
organization.

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Conclusion
This report has been concluded about the strategic marketing process that helps the organization
in achieving all the marketing objectives in the business. The various aspects of strategic
marketing are included in the report. The marketing strategies are very important for the overall
process and this improves the overall profits of the organization. The report includes several
processes properly to achieve all the goals and objectives related to business improvement. The
report included a description of the marketing plan and its importance that defines the value of
the marketing plan in the growth of the business. The several components of the marketing plan
are discussed in the report that helps in making the marketing plan successful. The marketing
aspects lie market research, market strategies and pricing strategies are very important in the
management of the marketing. The various techniques of marketing are discussed in the report
that helps in the improvement of marketing techniques.
The report has been discussed about the risks related to the marketing plan that is related to the
demands, customer experience and pricing process of the products. The several mitigation
strategies are included in the report that helps to improve the strategic marketing process. The
various process that helps in achieving the strategic objectives are included in the report. IT is all
related to the marketing plan that is used to achieve the marketing strategies of the business.

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