Marketing Planning

Topics: Marketing, Strategic management, Management Pages: 5 (994 words) Published: July 28, 2013
TEST MARKEITNG

PROJECT A

Rubat Sheikh

6/10/2013

CONTENTS

Learning Outcome 1…………………………………………………………………… •Market Led Strategic Change………………………………………………………….. •Strategic Ability and Strategic Intent………………………………………………….. •Planning Future in Marketing Enviroment…………………………………………….. •Learning Outcome 2…………………………………………………………………… •Marketing Planning and its Barriers ……………………………………………………


Learning Outcome 1:
Market Led Strategic Change:
Market led strategic change is defined as a marketing strategy in which a company studied its market in search for products that customer might want and move company for the development of that product. Heavily research is needed, Market Led marketing is to determine what does the customer want? And what product or service may satisfy that want? Often Market Led marketing is used simultaneously with asset-led marketing strategy. (Nigel F Piercy, 2008) Piercy’ ten steps of transforming the process of going to market provides with a framework for creating superior value for the customer before your competitors do. The company main focus should be on creating value for the customer, and what it takes to do better to win customer loyalty. E-business is essential in new marketing. Business functions are now being conducted over the internet that includes interaction with customers, buyer-sellers relationship, collaborating with distributors on sales promotion and research for new products. In the process of going to market innovation and creativity plays a major role, developing an innovative product that satisfies customer wants better. The company should create a strategy using integrated marketing methods and turn this strategy into a market plan in delivering and creating value to the customer. (Nigel F Piercy, 2002)

Strategic Ability and Strategic Intent:
Strategic ability is the ability to create value for the company by adapting and adjusting innovative ideas and strategic decision in the core business, creating not just new products and services but new business models to stay competitive on the other hand Strategic intent is a compelling statement about the company’s management plan for the long term and force companies to compete in innovative ways.(Gary Hamel 1989;C.K Prahald 1989Solvay Chaired)

The factors that may influence this balance are the 5 m’s of marketing. 1.Market: Identify your target market, that are your ideal customers and create strategy for selling them your product. 2.Message: Message is what you need to say it encompasses tone, look and feel. Why a prospective customer should prefer your product rather than your competitor? 3.Media: Media connects the company and the customer. How to deliver your message? It can be website, direct mail or advertising. 4.Moment: Timing plays a vital role in marketing, Delivering your message consistently and regularly to your target customer. 5.Method: Difference among the value you and your competitors deliver to the same targeted customers. (Steve Richardson) The world leading coke company “COCA-COLA” has created a successful balance between strategic intent and ability. ( Bazil, M. (2013))

Planning Future in Marketing Enviroment :
In planning the future in a marketing environment organization should consider the aspects of SWOT and PESTEL analysis which provide with the aspects that need to be focused in future planning. SWOT:

SWOT analysis identifies the positive and negative both internally and externally. It consists of four factors strength, weakness, opportunities and threats. •Strengths: Strengths are internal and a positive factor, organizations strength may be its unique selling proposition (USP); advantages over competitors. •Weakness: Weaknesses are internal and negative factors; weaknesses include components that may be improved or should be avoided. •Opportunities: Opportunities are external and...

Bibliography: Nigel F Piercy, 2002, The Marketing Review,
< http://asbpgp.pbworks.com/f/KR-ValuMrktg.pdf>
Gary Hamel and C.K Prahald , 1989, Strategic Intent
Yves DOZ, Strategic ability

Jim Riley, Marketing Planning, 2012
Malcolm H.B. McDonald, (1992) "Ten Barriers to Marketing Planning",
< http://www.emeraldinsight.com/journals.htm?articleid=856562&show=abstract>
Exploring SWOT analysis, Marilyn M. Helms, Dalton, Judy Nixon , 2010,
Darrell Zahorsky, A Business Owner 's Secret Weapon: Swot Analysis
Barry L. Stanson ,Dr. By Jasmine A Step Approach, 2004,
< http://www.slideshare.net/Jack78/strategic-planning-a-10s-step-approach>
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