AaaMarketing Management Essay 1

Assess the practical value to marketing managers of the analytical frameworks devised by the Boston Consulting Group, M.E. Porter and I. Ansoff. Use a variety of industry examples to illustrate your response.

Marketing management is a business discipline which concentration on the practical use of marketing methods and the management use of a company’s marketing resources. Business marketing managers are required to carry out a broad marketing planning process thus that they can assess the marketing environment and it also allows managers to generate marketing strategies. Managers use numerous marketing models to assist them frame their marketing strategies and to analyse the current marketing environment. In this essay I will be looking at the models mangers use in the marketing planning process, I will be focusing on the practical value of the frameworks created by the Boston Consulting Group, M.E Porter and I.Ansoff using industry examples to illustrate.

The marketing planning “process provides a well-defined path from generating a business mission to implementing and controlling the resultants plans” (Jobber, 2010).Managers take a look into what position the busingess is at both internally and externally. Depending on the current status the business is in they are required to decide what’s best for the business in the future. Annual plans and strategic plans are the two types of planning levels. Planning involves setting targets and creating a process in order to achieve these targets. The process consists of analysis, planning, implementation and control. As shown by the figure below

Figure 1.1(Fao.org, 2013)
A system has to be put into place thus the plan has the ability to be monitored and controlled effectively.
Systems such as the Boston Matrix’s, created by Bruce Henderson in 1970 for the Boston consulting group to enable businesses with analysing their product lines.

The Boston Consultation Group who is also known as the BCG matrix is a

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