Marketing Plan and Product Development

The assignment delves into the crucial aspects of business success by examining marketing planning strategies and their impact on brand image. It highlights the importance of ethical behavior in both consumer interactions and workplace dynamics. Additionally, the document explores the various stages involved in new product development, emphasizing the significance of strategic market planning and incorporating factors like weather uncertainty and demand forecasting.

Marketing Principles
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Table of Contents
1.2 Clayton's capability for planning its future marketing...............................................................3
1.4 Organisational audit...................................................................................................................3
AC 3.1 identification of product modification................................................................................3
AC 3.3 Techniques for new product development ..........................................................................4
AC 3.4 Recommendations...............................................................................................................5
AC 3.5Implementation of marketing plan .....................................................................................5
AC 4.3..............................................................................................................................................6
References............................................................................................................................................7
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1.2 Clayton's capability for planning its future marketing
Clayton's now having skilled person and also recruits highly talented employees in the work
place those who have marketing expertise and knowledge of the latest technology. By this way
company will be able to advertise itself in a good manner. As firm is now gaining good profits and
customers are also satisfied, As consumers have faith so it is planning to implement market
penetration to increase market share and also making strategies of market segmentation by this it
will be closer to consumers and will able to understand their demands easily and will be able to
fulfil such needs in proper way (Egan-W er, 2014). As it is having skilled human resources so it is
planning to train employees with the latest technology by this way people will be able to work with
accuracy.
1.4 Organisational audit
 Political factors: As it has high revenues but still changes in import policies, Currency
exchange rates, political parties changes affect the working of the company.
 Economic factors: Inflation, taxation, product development, recession etc. affect the
economic conditions of the company (Iyer and Solutions, 2014). Some times recession
reduces the value of the company.
 Social factors: Demographic condition of country, changing test of customers affect
positively and negatively performance of the organization. Some time competitor brand
offers chip products, consumers can move to other brand (Ziser, Dong and Wong, 2012).
 Technology: Online selling and purchasing is increasing so much. As it is working in
supermarket so online purchasing and home delivery options attract customers.
AC 3.1 identification of product modification
As per the information and structuring of the market plan determined as Ansoff's Matrix
which specified the following aspects:
 Market penetration – Discriminating the present market factors and determination in
order to focus and direct the efforts of marketing team of the cited company over a
particular group of customers (Palia, De Ryck and Mak, 2014).
 Market development – The activity of developing the market by introducing a range or
set of products which is unique and special. This could be beneficial and most efefctive
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for the marketing team of the organisation.
 Diversification – It is the situation in which the organisation expand it services and
business in some different sector. For the cited company, it would inappropriate to
select the strategy (Leou, 2011).
 Product development – The market action plan for developing the product specification
by considering the demands and wants of the customers. This is the most effective
technique for the cited enterprise.
AC 3.3 Techniques for new product development
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Illustration 1: Marketing Plan

Product development – In order to overcome the strategy of developing the existing
product the marketing team should focus on conducting an effective market research which
would be beneficial for them to address the wants and needs of their customers. After attaining
the market requirements the team could have an idea about the type of product required by
their aimed customers. In the end, they can implement various changes that are appropriate and
suitable for placing better product in the concerned market (Blythe and Megicks, 20 l0).
AC 3.4 Recommendations
Considering the business approaches of Clayton and their market condition which clears
that the company is facing a great impact of competition. In that respect, the team of marketing
management should effectively determine pricing range of their product by analysing the prices
offered from their competitors. Along with this, the should adopt the best way of supply chain
structure that should able to connect the suppliers and customers with the organisation
systematically. The innovative approach of participation with the logistics partners would be
advantageous to the cited firm. In addition to this, the advertisement and communication
should be specific, attractive, impressive and clear to the audiences.
AC 3.5Implementation of marketing plan
For Clayton, it is crucial to attain benefits by implementing the marketing plan effectively
and strategically. In that relation, the team must follow the stated steps of market planning:
 Setting up objectives and goals
 Analysing the present situation
 Selection of appropriate strategies
 Formulating policies and procedures
 Allocation of marketing resources
 Monitoring and control. (Baines and Fi ll, 2010 )
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Illustration 2: Product Development

However, there are many key performance measures which are to be considered by Clayton
and it could be use for evaluating and monitoring its performance. These include customer
attrition, turnover, collection of bad debts, profitability of the customers, quality of the product,
outstanding balances, etc ( De Neufville and et.al., 2013 ).
AC 4.3
Company need to make clear communication with customers. Each product detail with
price and warranty detail needed to clear with customers. As enhance loyalty towards
company. Customers are the backbone of Clayton supermarket. They directly or indirectly
affect business performance. Company need to follow ethics live there should not be any
discrimination that can affect brand image (Abbott, 2015). Each person even employee also
needed to treat equally in the workplace. Workers should be faithful and can give clear
information regarding products. Ethical behaviour of consumers enhance the growth of the
company and unethical behaviour can harm the productivity of the organization.
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REFERENCES
Abbott, RJ. (2015) Pestle Analysis for Students, CreateSpace Independent Publishing Platform.
Baines P. and Fi ll, C. (2010) lvfarketing, 2nd edition, OUP Oxford.
Blythe, P.J. and Megicks, P. (20 l0) Marketing Planning : Strategy, Environment cm dontext l "t
Cadle, J. and Eva, M. (2014) Business Analysis 3rd edition BCS, The Chartered Institute for IT.
Egan-W er, C. (2014) Ethics of the Brand (Ephemera 1'ol. 14, o. 1), MayFlyBooks! Epheinera .
Iyer, A. and Solutions, K.E. (2014) Porter's 1. ,'fodel: Porter's Diamond, Pm·ter's Generic
Straferies,
De Neufville, R. and et.al. (2013). Airport systems: planning, design and management.
Palia, A. P., De Ryck, J., and Mak, W. K. (2014). Interactive Online Strategic Market Planning
With the Web-Based Boston Consulting Group (BCG) Matrix Graphics
Package. Developments in Business Simulation and Experiential Learning, 29.
Leou, R. C. (2011). A multi-year transmission planning under a deregulated
market. International Journal of Electrical Power & Energy Systems, 33(3), 708-714.
Ziser, C. J., Dong, Z. Y., and Wong, K. P. (2012). Incorporating weather uncertainty in demand
forecasts for electricity market planning. International Journal of Systems Science, 43(7),
1336-1346.
Online
8 Steps to Business Success. 2016. [Online]. Available Through: <http://masterful-
marketing.com/marketing- plan-coaching/>. [Accessed on 15th June 2016]
New product development stages. 2016. [Online]. Available Through:
<http://www.powerdecisions.com/product-research.cfm#.V2EgVaW1Gko>. [Accessed on
15th June 2016]
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