Develop and Implement Marketing Strategies: A Comprehensive Analysis

This assignment provides a detailed analysis of marketing strategies, covering key aspects of both the internal and external business environments. It addresses crucial questions related to planning marketing strategies, including environmental scanning, market segmentation, and the importance of reviewing performance information. The assignment explores the application of SWOT analysis, assesses current capabilities and resources, and delves into the impact of external factors such as labor force changes and economic activity. It examines various marketing strategies, including the 7Ps of the marketing mix, price penetration, and ethical considerations in advertising. The assignment further outlines the components of a marketing plan, including marketing tactics and budget, and emphasizes the importance of staff involvement. It concludes by discussing the implementation, monitoring, and ongoing evaluation of marketing activities, including the use of marketing reports and software, and the importance of adapting to unforeseen events. The document provides a comprehensive overview of marketing strategy development and execution.

Develop and Implement Marketing
Strategies

Table of Contents
INTRODUCTION...........................................................................................................................5
SECTION 1 COLLECT AND ANALYSE INFORMATION ON THE INTERNAL BUSINESS
ENVIRONMENT............................................................................................................................5
Q.1. Questions which are required to confirm before starting planning marketing strategies?.5
Q. 2.Meaning of environmental scanning’?...........................................................................5
Q. 3. Market segmentation?....................................................................................................6
Q. 4. Sources which can access for information on the effectiveness of current and past
marketing strategies?..............................................................................................................6
Q. 5. Importance of review performance information?.........................................................7
Q. 6. SWOT analysis and its effectiveness for future?..........................................................7
Q. 7. Sorts of things needed to consider when assessing an establishment’s current
capabilities?............................................................................................................................7
Q. 8. Sorts of things needed to consider when assessing an establishment’s current resources?
................................................................................................................................................7
Q. 9. If non of the staff is technical sound then what action can be taken by managers?......7
Q. 10. Who needs to know about the internal business environment?...................................8
SECTION 2 COLLECT AND ANALYSE INFORMATION ON THE EXTERNAL BUSINESS
ENVIRONMENT............................................................................................................................8
Q. 1. Demand has dropped off and you're considering removing the service from your website
altogether. Which phase of the market is the service currently in?........................................8
Q. 2. List four ways a change in labour force or economic activity might affect your
customers and the establishment you work in?......................................................................8

Q. 3. What is meant by ‘best practice’ when analysing comparative market information?...9
Q. 4. How can you find out about emerging trends and developments?................................9
Q. 5. How can you keep up to date with the legal requirements of your business? Provide
three examples?......................................................................................................................9
Q. 6. What does the term ‘ethical constraints’ mean and how does it relate to marketing? 10
Q. 7. How does environmental legislation impact on work practices?................................10
Q. 8. Who needs to know about external market information?............................................10
SECTION 3 DEVELOP MARKETING STRATEGIES.............................................................10
Q.1. What's the difference between marketing objectives, strategies and tactics?...............10
Q. 2. How does analysing the internal and external environment help you identify marketing
opportunities?.......................................................................................................................11
Q. 3. What are the 7Ps in the marketing mix?......................................................................11
Q. 4. List three benefits of Internet marketing?....................................................................12
Q. 5. What is meant by the term ‘price penetration’ when referring to marketing strategies?12
Q. 6. A business that values customer service excellence has planned to reduce costs by
employing inexperienced staff. This creates additional funding to use on large marketing
campaigns. How might this decision affect the organisation?.............................................12
Q. 7. What type of advertising is against the law?...............................................................12
Q. 8. What is meant by the use of 'ethical' marketing tactics?.............................................13
Q. 9. Why is it important to consult with staff during the early stages of planning?...........13
SECTION 4 PREPARE MARKETING PLAN.............................................................................13
Q. 1. List the typical inclusions of a marketing plan?..........................................................13
Q. 2. What would you typically include under the ‘marketing tactics’ component of your
marketing plan? ...................................................................................................................13
Q. 3. What information would you typically include under the ‘marketing budget’ component
of your marketing plan?........................................................................................................14
Q. 4. How many products would you need to sell to break even if the fixed cost to produce the
product was $200 and the variable costs $5 per item? ........................................................14
Q. 5. Why should you allow staff to contribute to the marketing plan?...............................14
Q. 6. Who is responsible for approving marketing plans?...................................................14
SECTION 5 IMPLEMENT AND MONITOR MARKETING ACTIVITIES..............................14

Q. 1. What should you refer to when implementing and monitoring marketing activities? 14
Q. 2. Unforeseen events can occur and change the course of your path and the likelihood of
you achieving your marketing objectives. Provide two examples of such events?..............15
Q. 3. You notice that things are simply not working out as you'd planned. What should you
do?........................................................................................................................................15
Q. 4. What's the purpose of producing marketing reports?..................................................15
Q. 5. List two types of software programs that can simplify the process of producing
marketing reports?................................................................................................................15
Q. 6. What is the most effective way you can maintain the ongoing commitment and
involvement of your staff?....................................................................................................16
SECTION 6 CONDUCT ONGOING EVALUATION.................................................................16
Q. 1. Why must the evaluation of marketing activities be an ongoing process?..................16
Q. 2. Through your ongoing evaluation, you determine that things are not heading in the right
direction, so you make some minor adjustments to your original plan. What is your next step?
..............................................................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Marketing is an essential activity which assists in promoting the brand name and to
expand operations significantly. Marketing strategy has fundamental goal of increasing sales and
to gain competitive advantage. It is necessary to have specific business goal so that according to
those company can formulate accurate business plan and can select appropriate market
orientation strategies. Present report is based on various marketing concepts and will provide
response to all questions. It will discuss upon various information which are related to internal
and external business environment (Shani and Chalasani, 201). Assignment will illustrate about
several marketing strategies and will prepare the plan. Report will cover implementation and
monitoring of marketing activities in corporate world.
SECTION 1 COLLECT AND ANALYSE INFORMATION ON THE
INTERNAL BUSINESS ENVIRONMENT
Q.1. Questions which are required to confirm before starting planning marketing strategies?
The basic three questions which are required to confirm before start planning of
strategies, are as below:
Answer:
I. What is the objective of firm of using marketing strategies?
Goal can be related to increase sales, branding etc.
II. What are the current marketing efforts of concern entity?
This question will help corporation to utilize existing resources effectively and it will
assist in determining the weaker section which need to be eliminated (Green, Whitten and Inman,
2012).
III. Who is target audience of cited firm?
This question will aid in selection of appropriate distribution medium.
Q. 2.Meaning of environmental scanning’?
Answer:
Environment scanning refers with the analyses of surrounding which include monitoring,
forecasting and assessment of global market. It can also be explain as impact of several political,
technological, legal, social and economic factors on business unit. Current trends, events, needs
and wants of consumers, suppliers are needed to consider for scanning the environment. It helps

in identifying strength and weakness of firm (Christopher, Payne and Ballantyne, 2013). Apart
from his, it assists to identify potential consumers, market, technology which can give best
results to enterprise.
Q. 3. Market segmentation?
Answer:
Market is segmented into several categories, which are as following:
i. Demographic: Its variables are as age, income, occupation, religion, race etc. For
example, Maruti has different products for differed income group persons such as it
offers BMW, Audi cars to its premium customers and also have products for middle class
consumers (Kumar, 2015).
ii. Behavioural: this segment categories persons on the bases of their behaviour, usage and
decision making pattern. For instance; Blackberry generally use by high class business
people, whereas Apple used by premium consumers those who want to invest in unique
products (Rex, 2014).
iii. Psycho graphic: It is based on interest; life style and perception of individuals, buying
behaviour of public take in consideration in the segment. Such as some people are much
more interested in hygienic food whereas others or youngsters are attracting towards the
fast food.
iv. Geographic: It is segmented into area, market size, climate etc. For example in
MacDonald's offer vegetarian food in Indian market but in UK it offers variety of non
vegetarian food items (Suki, 2013).
Q. 4. Sources which can access for information on the effectiveness of current and past
marketing strategies?
Answer:
Sources to collect informations are as:
 Managers: firm can take feedbacks from its managers.
 Customers: Consumers can give better views about need and wants.
 Online articles: it can give authentic data which can help to make campaign successful.
 Blogs: It can help to views of audience.

Q. 5. Importance of review performance information?
Answer:
 It is very important to review the performance as it supports in identifying the
weakness of existing procedures and company can formulate strategies to overcome
these shortcomings.
 It helps to enhance sales of the entity and to satisfy its consumer’s needs.
 Reviewing aids in increasing accuracy in operations which will be beneficial to gain
high profit (Foxall, 2014).
Q. 6. SWOT analysis and its effectiveness for future?
Answer
SWOT analyses is an essential tool which help to evaluate current situation and discovery
phases to improve existing process. It helps organization to plan for the future by utilizing
capabilities of the firm effectively and by improving lacking points. For example if entity has
talented employees but less sales than it can train its workers impressively for enhancing
revenues. It assets in using the opportunities of business unit significantly and find ways to face
the threats (Evers, Andersson and Hannibal, 2012).
Q. 7. Sorts of things needed to consider when assessing an establishment’s current capabilities?
Answer:
At the time of `assessing an establishment of current capabilities then, firm need to
consider internal resources and value based services of the enterprise. This will help to know
about the satisfaction level of employees and customers. Value based services include product’s
quality, service delivery which can help to enhance the trust of consumers and to gain their
loyalty.
Q. 8. Sorts of things needed to consider when assessing an establishment’s current resources?
Answer:
At the time of assessing an establishment’s current capabilities, company needs to look
upon physical resources of organization, human resources and their skills, financial resources of
the firm.
Q. 9. If non of the staff is technical sound then what action can be taken by managers?
Answer:

Organization will train its existing staff so that they can improve their skills. Apart from
this it will hire technical sound persons who can support in its marketing campaign. As these
persons are highly talented so they will give optimistic results to firm, thus recruitment of extra
staff will be correct strategy (Yang, Wan and Fu, 201).
Q. 10. Who needs to know about the internal business environment?
Answer:
Suppliers, employees, creditors, lenders, director, investors need to know about the
internal business environment. Workers require these details for knowing their carrier growth,
suppliers need it for identifying credit worthiness of the firm. Investors need to know about
operation of entity so that they can estimate their returns on invested amount. Director need to
know about internal business environment for analysing the growth of the company (Foxall,
2014).
SECTION 2 COLLECT AND ANALYSE INFORMATION ON THE
EXTERNAL BUSINESS ENVIRONMENT
Q. 1. Demand has dropped off and you're considering removing the service from your website
altogether. Which phase of the market is the service currently in?
Answer:
Currently it is in declining stage in which company has to eliminate the services from
market so that it does not suffer from heavy loss.
Q. 2. List four ways a change in labour force or economic activity might affect your customers
and the establishment you work in?
Answer:
i. Changes in economic activities affect the customers and business as well. If there is high
rate of unemployment then purchasing power of individuals will get affected. Customers
will not prefer to spend much amount which will impact on sales of the business unit so
company will not be able to grow.
ii. Changes in legislation which is related to trade unions, can impact on work.If
government increases tax rates then production will be costly so service users will get
affected, they will not be able to purchase such high rate products.

iii. Modifications in employment developments laws can affect work, if they are not in their
favour then it may harm the operations of firm. If there is high rate of wages then it will
reduce demand of labour (Tsitsi Chikandiwa, Contogiannis and Jembere, 2013). Thus,
production will be hampered and company will have to increase its cost so that it can
sustain in market. This will affect consumers and business environment.
Q. 3. What is meant by ‘best practice’ when analysing comparative market information?
Answer:
Best practices used by entities to maintain quality and standards in the workplace. Best
practice is the marketing tool which assists to identify the existing techniques, procedures and
activities of firm. It helps in comparing the business operations with competitors. It tests the
process and checked that desire outcome is coming or not. This helps analyses the problems and
overcome from those.
Q. 4. How can you find out about emerging trends and developments?
Answer:
By conducting market research a firm can find about the emerging trends and
development. It will help in knowing needs and wants of consumers in modern era so that it can
modify its products to satisfy them. In addition, firm can take feedbacks from employees and
consumers for finding emerging trends. Workers work in actual market so they know better
about current requirements and consumers can discuss their feelings about organization’s
products and competitor (Shank and Lyberger, 2014). Which will help entity to produce
according to modern trends.
Q. 5. How can you keep up to date with the legal requirements of your business? Provide three
examples?
Answer:
i. Firm can visit government sites time to time, up-dates reflect on its website this will help
individual to keep own self up to date with legal requirements.
ii. News, articles, authentic information’s can help to keep up to dated with legal
requirements. .

iii. Internet surfing is another example to keep up to dated with legal requirements. This
medium can provide detail information about recent laws, changes etc (Webster Jr, and
Lusch, 2013). .
Q. 6. What does the term ‘ethical constraints’ mean and how does it relate to marketing?
Answer:
At the time of conducting marketing, company has to follow ethical legislation which
they can not breach. Such as data protection act explains that collected data of consumers can not
be liked by company and if it happens then firm will have to face legal problems. Some time
these ethical constrains create problems in marketing activities. It is necessary to revel all detail
about product in promotion but some information demotivate the persons and create negative
mage so it harm the sales of the company.
Q. 7. How does environmental legislation impact on work practices?
Answer:
Environmental legislation is the collections of regulations which ensure that
organization’s maintain standards and do not harm the surrounding. National environmental
policy encourages relationship between employees and natural surroundings. But if firm is
required to involve necessary chemicals to produce its final product and these ingredients are
against the law then, company will not be able to manufacture and sell its items which will harm
the brand image of enterprise. For instance in construction industry wastage material cannot be
used again by firm and it harms the environmental animals so government will oppose these
operations and it can negatively impact on the business unit (Bagautdinova and et.al, 2012).
Q. 8. Who needs to know about external market information?
Answer:
Stakeholders, strategic planner of the firm need to know about external market
information so that they can formulate appropriate strategies which can support in the growth of
the firm.
SECTION 3 DEVELOP MARKETING STRATEGIES
Q.1. What's the difference between marketing objectives, strategies and tactics?
Answer:

Marketing objectives are the actual goals of the firm which it wants to accomplish.
Strategies provide detail blueprint through which a firm can achieve the marketing objectives.
Tactics are similar to strategies but it is lowest form of planning which deals with the resources
which are needed to get immediate results (Miles, 2013).
Q. 2. How does analysing the internal and external environment help you identify marketing
opportunities?
Answer:
By analysing internal environment firm can identify its strength and weakness and can
utilize strong points effectively and also formulate strategies to minimize the negative points. It
will help to identify the market opportunity as it will be able to use skills of workers impressive
and can gain loyalty of consumers. By analysing the external environment company can know
about activities of competitors, recent trends and needs and wants of consumers and can operate
its business according to those, this will give firm optimistic results (Gupta and Malhotra, 2013).
Q. 3. What are the 7Ps in the marketing mix?
Answer:
7P’s of marketing mix are as below:
i. Product: Organization needs to focus on designing such products which can meet with
the needs of target audience.
ii. Price: Value of the goods determine its sales, if company is offering quality items at
affordable rates then it will attract more consumers and will enhance sales of the firm.
iii. Place: Location and place of physical outlets need to be established in appropriate visible
place where it can catch the eyes of potential service users.
iv. Promotions: According to the size and worth of company, it can choose several ways of
promoting brand such as advertisements, social media, sales promotions etc.
v. People: Employees are the key persons in the firm, their skill and knowledge support
entity in growing. It is an important element of marketing mix so organization must give
them priorities (Foxall, 2014).
vi. Process: Execution and delivery of services define the actual sales of the firm.
vii. Physical evidence: As insurance company gives their clients physical material as physical
material.

Q. 4. List three benefits of Internet marketing?
Answer:
i. Internet marketing is beneficial to communicate with mass audience. As through Face
book, Twitter etc. Company can coordinate with huge public in less time period.
ii. It is the medium which is cheaper and helps to enhance brand name of the firm to great
extent. Videos, images attract more consumers because in modern era people are used to
of using these social sites so enterprise can make contact with then in less cost.
iii. It is a two way communication medium so immediate response can get by the firm. Entity
can resolve quarries of customers immediately with this medium which supports in
increasing trust of service users and to make them loyal towards brand (Suki, 2013).
Q. 5. What is meant by the term ‘price penetration’ when referring to marketing strategies?
Answer:
Pricing penetration explains as marketing strategy in which a firm offers products to
consumers at lower cost in the initial stage. It helps to attract more service users towards the
brand and keep away them from competitors. People will take interest in cheaper quality
products and services thus will defiantly purchase it. It is an marketing strategies to increase
sales of the firm (Rex, 2014).
Q. 6. A business that values customer service excellence has planned to reduce costs by
employing inexperienced staff. This creates additional funding to use on large marketing
campaigns. How might this decision affect the organisation?
Answer:
In this condition marketing campaign will not work, it will be wastage of money and
human resources because objective of firm can not be achieved by unskilled persons.
Q. 7. What type of advertising is against the law?
Answer:
There are many type of advertising which are against the law.
1. False and misleading advertisements are against the law. It can be related with price,
quality, purpose etc.
2. Advertisement which spread wrong message in the mind of population are against the
legislation. For instance alcohol promotional messages are prohibited.