Detailed Marketing Plan: Strategies, 7Ps, Budget, and Tactics

This report provides a comprehensive overview of marketing essentials, beginning with the definition of marketing and its core components, including the marketing mix. It then outlines the basic stages of a marketing plan, emphasizing market and company overviews. The report delves into marketing strategies, detailing SWOT and PESTEL analyses for internal and external environment assessments. It also addresses marketing budgets and tactics, including service performance improvements, network expansion, and revenue objectives. Furthermore, it explains the 7Ps of marketing (Product, Price, Place, Promotion, Process, People, and Physical Evidence) within a strategic marketing plan framework. The report concludes by highlighting the importance of marketing and its impact on various functional departments within a company. References include books, journals, and online resources to support the information provided.

MARKETING
ESSENTIAL

INTRODUCTION
• Marketing is define as the
process in which product
is made with the aim of
satisfying the needs, wants
and wishes of a customer.
• It includes adoption of
marketing mix such as
product, price, place,
promotion,people, process
and physical evidences.

BASIC MARKETING PLAN
• Following are the basic stages for a marketing plan:
• Market Overview
• One should begin its plan by conducting a comprehensive overview of
local market's condition. One should define the market which is been
targeted with respect to demographics, psycho graphics and behaviourists
aspects.
• Company Overview
• Types of products and services which ought to be offered are decided and
their respective development should be conducted.The overview of the
company decides what types of product or services they are providing ,
how they will satisfy customer's satisfaction and details related to it are
provided to the potential customers.

CONTD...
• Marketing Strategies
• Marketing strategies includes the internal and external analysis of the
environment which includes the SWOT and PESTEL analysis of the
company where
• SWOT determines the strength which includes what are the positive aspects
of a company, how it is unique and what are the features that provides other
a tough competition. Weakness includes those areas where company is
lacking and should improve.
• PESTEL is the external factor analysis which is comprise of Political factors
comprises of political environment of the area, Economic factors are those
which are related to nation's economy,Social factors are those which
includes cultural aspect of people in that particular area,Technological
factors determines influential aspect of technology on the company

CONTD...
• Marketing Budget
• It includes framework of financial aspect which is made to provide a
budget that regulates all expenses involved in implementing the whole
marketing plan.

Detailed coherent evidence based
marketing plan
• Marketing tactics
• Marketing tactics includes the following aspects
• Service performance
• Increase in the service performance as compared to last year performance.
Introducing new concept of service delivery and also providing training
sessions for making service quality better.
• No. of cities covered
• To expand 20 stores and opening up in more than 15 cities which can be
implemented in following year.
• Congestion of the network
• Collaborating with other sources for increasing the congestion of the
network by 20 percent.

CONTD...
• Marketing Objectives and Planned Strategies
• Increasing the revenue percentage by 6% in comparison to previous year.
• Conduction of training session to train sales person along with providing
them education.
• Implementing new strategies that attracts more customers.
• Increase the profit by 12% in the following consecutive year.
• Implementing different promotional strategies to double the consumer
base.
• Financial Budget

CONTD...

Strategic marketing plan that applies
7P's
• Strategic marketing plan that applies 7 P's are
• Product
• What type of product and service is to be offered which is different from
other competitors and successfully satisfies the needs and wants of a
customer and also helps to generate profit.
• Price
• In pricing aspect company has to decide the pricing policy of the product
or service whether it wants to keep high or low price according to the
market situation.
• Place
• It includes which geographical areas are to be covered for their company
whether they want to be in a particular region or want to expand in every
city.

CONTD...
• Process
• Process includes what type of processing will the company follows
whether they want to sectioned their store for different departments or
want to operate it as a whole.
• People
• It lead to decide what will be the style of service delivery, how they will
tackle their customer.
• Physical Evidence
• It shows various aspect related to appearance of the store and the
employees, how they will represent themselves, what type of ambience
would be there.

CONCLUSION
It has been concluded that Marketing is an important aspect of a company
which helps in various aspects and are linked to different functional
department to provide desired result and maintaining the performance level as
well.

REFERENCES
• Books and Journals
• Johanson, J. and Mattsson, L. G., 2015. Internationalisation in industrial
systems—a network approach. In Knowledge, Networks and Power (pp.
111-132). Palgrave Macmillan, London.
• Harper, C., 2015. Organizations: Structures, processes and outcomes.
Routledge.
• Online
• Hitesh Bhasin.2017.MARKETING MANAGEMENT.[online].Available
through<https://www.marketing91.com/importance-marketing-mix/>