Market Plan Obstacles
Jerry France
Baker College Online
Marketing Management
Kathryn Tvorik
Wk1-Ex2
Review the major obstacles to developing and implementing marketing plans listed in Exhibit 2.4. Select three of these obstacles and explain why they can be obstacles and how these obstacles can be overcome. Inadequate communication, inadequate information, and lack of understanding customers are the three obstacles that I thought would be the biggest concern for any corporation. One critical aspect of the marketing plan is its ability to communication to colleagues, particularly top managers who look to the marketing plan for an explanation of the marketing strategy, as well as for justification of needed resources, like the marketing budget (Ferrell & Hartline, 2011 pg. 48). The marketing plan also communicates to line managers and other employees by giving those points of references to chart the process of marketing implementation (Ferrell & Hartline, 2011 pg.48). This obstacle can be easily overcome by implement a chain of line communication. Rather than having only communication directed in one direction but have the lines of communication open on both ends. Management may pass on a certain task that needs to be performed but the employees are unable to honor the directive given to them for a certain reason. With the ability to relay the message back to the manager immediately, the appropriate actions could be taken to resolve the situation. Inadequate information I feel should be higher than what the graph estimated. Inadequate information leads to market failure because consumers make decisions which do not maximize satisfaction. For example, say that a used car lot is selling a 2003 Ford Explorer. The seller might not divulge the disadvantages that the vehicle may have because it will hinder the chance of it selling. The consumer will not acknowledge the faults of the vehicle, thinking that they received a fantastic bargain. The deal is complete and
Baker College Online
Marketing Management
Kathryn Tvorik
Wk1-Ex2
Review the major obstacles to developing and implementing marketing plans listed in Exhibit 2.4. Select three of these obstacles and explain why they can be obstacles and how these obstacles can be overcome. Inadequate communication, inadequate information, and lack of understanding customers are the three obstacles that I thought would be the biggest concern for any corporation. One critical aspect of the marketing plan is its ability to communication to colleagues, particularly top managers who look to the marketing plan for an explanation of the marketing strategy, as well as for justification of needed resources, like the marketing budget (Ferrell & Hartline, 2011 pg. 48). The marketing plan also communicates to line managers and other employees by giving those points of references to chart the process of marketing implementation (Ferrell & Hartline, 2011 pg.48). This obstacle can be easily overcome by implement a chain of line communication. Rather than having only communication directed in one direction but have the lines of communication open on both ends. Management may pass on a certain task that needs to be performed but the employees are unable to honor the directive given to them for a certain reason. With the ability to relay the message back to the manager immediately, the appropriate actions could be taken to resolve the situation. Inadequate information I feel should be higher than what the graph estimated. Inadequate information leads to market failure because consumers make decisions which do not maximize satisfaction. For example, say that a used car lot is selling a 2003 Ford Explorer. The seller might not divulge the disadvantages that the vehicle may have because it will hinder the chance of it selling. The consumer will not acknowledge the faults of the vehicle, thinking that they received a fantastic bargain. The deal is complete and