Marketing Planning Report

This marketing planning report uses River Island as a case study to analyze various aspects of marketing strategy. It begins with an introduction to marketing planning and its evolving perspectives, then delves into an organizational capability evaluation using SWOT analysis. External factor analysis is conducted using PESTLE analysis, and the McKinsey 7S framework is also applied. The report details a comprehensive marketing plan, including mission setting, situational analysis, objective determination, customer service strategies, segmentation, targeting, positioning, financial planning, implementation, evaluation, control, and plan review. The report also discusses techniques for new product development, recommending pricing policies, distribution methods, and communication mixes. Finally, it addresses ethical issues influencing marketing planning, responses to ethical issues, and consumer ethics, concluding with a summary of the findings and recommendations for River Island's marketing strategy.

MARKETING PLANNING

Contents
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
1.1 Changing perspectives in marketing planning.......................................................................3
1.2 Evaluating the organization capability for planning its future marketing activity................4
1.3 The main techniques for organizational auditing for analysing external factors...................5
1.4 Organisational auditing..........................................................................................................6
Task 2...............................................................................................................................................7
Task 3...............................................................................................................................................7
3.1 Marketing plan.......................................................................................................................8
3.2 Explanation of marketing planning process is essential in strategic planning process.........9
3.3 Techniques for new product development...........................................................................10
3.4 Recommendation for pricing policy, distribution and communication mix........................11
3.5 factors that affect implementation of marketing plan..........................................................13
Task 4.............................................................................................................................................13
4.1 Ethical issues influencing marketing planning....................................................................13
4.2 Response to ethical issues....................................................................................................14
4.3 Consumer ethics...................................................................................................................14
Conclusion.....................................................................................................................................15
References......................................................................................................................................16
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INTRODUCTION
Marketing plan is a overall document which outline an organization marking efforts and
advertising for its new product and services in coming years. Further it is a road map which
provide direction to a business for reaching its goals and objectives. The present report is based
on River Island organization which operates its business in United kingdoms. It expand it
business in new geographical area and now it have 350 stores in UK. In the present report,
external factor which are affecting the marketing planning is analysed. Along with this, an
organizational capability for planning is future activity is evaluated. Apart from this the way
factors affecting the implementation of marketing plan is explained
TASK 1
1.1 Changing perspectives in marketing planning
Marketing is an attribute that has changed with industrialisation and globalisation. There
has been a huge contribution of technology in changing the marketing strategies and techniques
which business organisations use. The growth of internet and television has made individuals
more aware and gather more information regarding respective products and services. River
Island since its establishment has been progressing due to effective marketing strategies and
good quality clothes and accessories (Meidan, Moutinho and Chan, 2015). Right from the onset
of 20th century, there has been significant developments in manufacturing of computers. As
technology progressed, business organisations took on new ways to communicate their products
and services.
Earlier customer centric approach was not preferred. Profit orientation was the main
focus of organisations. This implies that marketing planning was performed for gaining more
profit share rather than getting customer share. The use of internet and web based applications
has led to change in perceptions of enterprises (Ayub and et. al., 2013). Currently organisations
use digital marketing platforms and customer centric approach in their marketing planning. The
products and services of River Island are communicated to prospective candidates by using the
preferences and choices of customers. Moreover, the future capabilities of the company are also
assessed nowadays while performing the marketing planning function.
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1.2 Evaluating the organization capability for planning its future marketing activity
Working as a manager of River Island Swot Analysis is conducted for finding out the
capability of company in order to plan its future marketing activity.
 Strength of River Island
Strength of River Island is that it make innovative product and keep the price lower as
compare to its competitor. It respond to the changes which help in retaining a customer for
longer period of time (Niederwieser, Horowitz and Iida, 2016.). It makes product which are
different from its competitor which lead to increase in sale and profitability. Quality of its
product is also good which lead to increase in sale and increase customer satisfactions.
 Weakness of River Island
Weakness of River Island is that change in season is a big problem which is faced by
River Island because of the rise in global warming. This make hard for organization to predict
weather of next month according to which it can make products (Sarwar, Ramachandran and
Hosseinian-Far, 2017). Its another weakness is that online presence of River Island is very weak
so it unable to target large number of customers. There are many people who are not aware of its
product and services.
 Opportunities of River Island
River Island have opportunity to expand its business by making online presence strong
(McCamley and Gilmore, 2016.). It can make online website so that people came to know its
company product and services. Further it can adopt advance technology which help in making
innovative product at lower cost of productions.
 Threats of River Island
Threat of River Island is its competitor which are making same product for customers
(Niederwieser, Horowitz and Iida, 2016.). It have not enough finance available for adopting new
technology which is one of the threat of River Island.
Hence, above mentioned SWOT analysis of River Island show the strength and weakness
which help in proper planning of future marketing activity.
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1.3 The main techniques for organizational auditing for analysing external factors
There are number of techniques which are used for organizational auditing and can also
affect the marketing planning of River Island organization.
PESTLE analysis is very effective technique for organization for identifying the factors
which are impacting the organization directly and indirectly. Further it also give right direction
to organization, so that River Island come up with effective market plan.
PESTLE analysis of River Island s is discussed below:
 Political factor: There are many political issues which impact the organization
negatively and positively such as tax policy which is changed by government (Barba,
Sánchez and Anthony, 2016.). For Example Tax rate charged high by the organization
then it impact the sale of River Islands. Further there is instability in political factor
impact the organization and it profitability.
 Economics factor: The Economic issues which River Island need to look for its own
growth and developments. Some of the economic factor which are impacting the
organization such as recession, interest rate and taxations (Fozer Toth and Mizsey,
2017). If economy is in recession then growth of River Island is at low. Company cannot
afford to lose out on investment due to lack of resources in the economic this lead to
organization to suffer from loss.
 Social factor: Social factor which River Island is currently facing such as changes in
lifestyle of consumer, attitude and education (Sarwar, Ramachandran and Hosseinian-Far,
2017). It is not possible for the River Island to make products regularly with the demand
of consumers. Further organization not have highly skilled employee who can make
innovative product as per the demand of consumer. This impact the sale and profitability
of organization.
 Technological factor: There are some technological issues which River Island is facing
and unable to respond the changes (Atighechian, Maleki and Jahangiri, 2016). There are
many new technology which are introduced in market which are still not adopted by
River Island company due to lack of financial. This unable organization in making
creative product as per the demand of customer.
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 Legal factor: Legal rule and legislation which are made by government and company
need to adopt them in order to carry out business activities. This law help consumer and
protect them from defective product (Rao and Manikyam, 2016). Further, rules are made
for safety of employees at work place which River Island need to adopt such practices in
order to carry out its business activities legally.
 Environmental factors: River Island is not compiled with the rules and regulation that is
recycle of wastage and making environmental friendly product then it sales can be
decline which impact its profitability (McDonald and Wilson, 2016.). Company need to
adopt such measure for keeping surrounding environment neat and clean. Firm can make
environmental friendly product for Improving the brand image.
Hence above discussed PESTLE analysis help organization in identifying those factor
which are impact the organization activities and marketing plan. This show that company make
its plan through focusing on such factor which support in the success of plan and take measure
for those factor which are becoming barrier in success.\
McKinsey 7 s Technique
Illustration 1: McKinsey 7s Technique
 Strategy: Through the plan which is developed of River island lead to continue benefits
and it help in participating in market successfully.
 Structure: Structure of River island it easy and its elements can be changed.
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 Systems: The systematic process and action which is taken by River island help in
making effective decision and necessary actions.
 Skills: Employees of River island were provided training and development facility which
lead to support new structure and different strategy by the organisations.
 Staff: Human resources team focus on hiring skilled staff and also motivate them by
providing rewards.
 Styles: The democratic leadership style is chosen by River island in order to accomplish
goal and objectives.
 Shared value: There are norms an value which lead to support performance of workers of
River Island.
1.4 Organisational auditing
River Island is one of the renowned clothing retailer in UK. SWOT and PESTEL analysis
is conducted for gaining insight about organisational auditing and the influence of external
business environment factors on marketing planning.
SWOT analysis
Strengths
 Brand recognition.
 Convenient locations for retail outlets
and showrooms.
 Wide variety of clothing is provided for
different sections of customers.
 Unique products and services are sold. Affordable pricing strategies is adopted
by the company.
Weaknesses
 The market share of the company is
quite small as compared to other
organisations.
 Global level recognition is not present
currently.
Opportunities
 Organisation can aim on expanding
sales in other regions and countries. Marketing strategies can be improved
by using celebrities for brand
Threats
 Excessive competition and
developments in technology.
 Threat of substitution is significant
from customers.
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endorsements.
The external factors which affect the marketing planning of River Island are analysed as
follows using the PESTEL tool:
Political: River Island's marketing planning and strategy is largely affected by major
changes in the legislation and policies which are directly associated with creation or prevention
of the marketing opportunities. Marketing planning of River Islands is affected by political
reforms of the country.
Economical: Factors like recession, employment rate and interest rate affect the
economic capabilities of an organisation. The announcement of Brexit i.e. exit of UK from
European Union has subjected the country and organisations like River Island to get affected by
slight recession. This directly affects the marketing planning of company.
Social: The attitudes and tastes of individuals keeps on changing. Marketing planning is
therefore affected by these social changes and differentiating acceptance power of customers.
River Islands needs to prepare marketing planning in accordance to these social changes.
Technological: Technical advancements are important for growth and development. The
adoption of potential customers towards new technologies, influences business organisations to
mould their marketing planning according to these technologies. It definitely costs River Islands
certain monetary expenditures but also creates better links with customers.
Environmental: Any business activity that holds certain negative impact over
environment is less acceptable by customers. The marketing planning of River Islands should be
according to environmental concerns.
Legal: The legal framework that has been designed by government of the country is to be
aligned with marketing activities of River Islands. If marketing planning is not compatible with
these frameworks then company might have to face complications.
TASK 2
Enclosed in ppt.
TASK 3
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3.1 Marketing plan
Marketing plan is an essential tool that can help the River Island in attracting customers
and in accomplishing goal of the organization. Steps of marketing planning are described as
below:
marketing planning 1
Mission or goal setting:
It is the first stage of the marketing planning in which cited firm has to set its goal that
what it wants to achieve. Main goal of the River Island is to enhance its sales volume and create
positive image of the company in front of consumers.
Situational analyses
It is first but one of the important phase, it is necessary that firms analyses its internal and
external environment so that it can prepare plan accordingly. Internal analyses can be done with
the help of SWOT analyses. In this River Island will have to identify its strength, weakness,
opportunity and threats (Sorger, 2011). In the external analyses cited firm can take support of
PESTLE or Porter’s five forces. It will have to look upon the market demands and completion
alone with availability of resources. In this stage cited firm has to analyze the current situation of
the cited firm. SWOT analyses is the model that can help the organization in determining its
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strength and weakness. Marketing assumptions are needed to be identified that would help the
Island in identifying the potential of the growth. So that company can plan the activities
accordingly in order to achieve its target.
Determine objectives
It is the next phase in which River Island needs to set its objective for the new product.
As River Island is thinking to attract maximum number of customers towards its new product. In
addition to this, cited firm wants to enhance its brand image and wants to gain high profit. For
that it can involve direct selling and offering high discounts to consumers in its marketing
planning process. So that organization can accomplish its objective soon (Rao and Manikyam,
2016).
Illustration 2: Marketing planning process
Source: (Rao and Manikyam, 2016)
Customer service and internal marketing
In the next phase, River Island needs to determine target buyers of this product. Apart
from this cited firm will have to work upon increasing services so that customers feel satisfy with
the product. Company should analyses the skills, resources effectively so that it can market the
products significantly.
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Segmentation, targeting and positioning
It is the next phase in the River Island has to decide to which segment they are going to
target. River Island is focusing on the demographic segment and according to the income and life
style cited firm offers products to the consumers. Then it has to decide the target market that can
give benefit to the entity. In the last phase it has to decide its positioning strategy so that overall
goal of the cited firm can be achieved.
Financial planning
In the next phase of marketing plan, River Island has to decide its marketing budget so
that it can allocate the resources accordingly and can arrange the activities. Good financial
planning helps the cited firm in controlling over unnecessary expenditure and increasing profit as
well.
Implement, evaluate and control
It is the last phase in which River Island should launch the final product in the market, it
needs to evaluate the sales volume and satisfaction level of users. By this way effectiveness of
marketing plan can be analyzed (Rao and Manikyam, 2016).
Review the plan
In the last phase cited firm has to review the overall plan and if any mistake is find then
manager has to make immediate action to improve it. By this way River Island will be able to
achieve overall goal of the company soon.
3.2 Explanation of marketing planning process is essential in strategic planning process
Marketing planning is an essential process that supports an organization in achieving its
goal. Marketing manager has to look upon each and every activity of entity so that manage its
operation well. In this, individual has to conduct market research so that needs and wants of
users can be identified easily. Effectiveness of marketing planning process in strategic planning
are described as below: Market penetration: With the help of this tool companies like River Island can find new
potential buyers inside the current marketplace. By this way number of customers of the
company can get increased that would help in increasing revenues and brand name of the
firm (Sorger, 2011).
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 Diversification: marketing planning process is very effective for market diversification.
By this way cited firm will be able to push itself into new market. That would help in
making connection with new audience thus, company will be able to expand its business
in maximum geographical areas. Product development: It is one of the major reason of marketing planning process, with
the support of planning cited firm will be able to gather information about needs and
wants of users and accordingly it will be able to develop its products (Sorger, 2011. That
would helps in satisfying the needs of them thus, revenues will get increased to great
extent.
 Market development: Marketing planning process is an essential tool that can help the
River Island in strategic planning so that company can develop new market and can target
new potential buyers.
3.3 Techniques for new product development
River Island is working tremendous in the United Kingdom, it is necessary for the
organization to develop its products time to time as per the needs of users. Product development
is one of the critical task. Product life cycle explains that each item has its life after certain
duration its sales going down and firms have to eliminate the product from the market (Rao and
Manikyam, 2016).. Techniques of product development are described as below:
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