Marketing Pl Subway Marketing Strategy

A marketing plan can be viewed as a roadmap in which an organization navigates through a sequence of steps in order to promote a service, goods, or program (Thomas, 2015) (May, Apr 12, 2012). Therefore, in order to initiate the occurrence of any marketing activity, it is vital to have a marketing plan to follow in the event to create awareness, attract customers, and to gain business (Thomas, 2015). In having a marketing plan, the organization must delineate their marketing initiative through a sequence of designated steps by strategically organizing, marketing activities while defining who will be their targeted potential customers (Buttell, Jan/Feb 2009). In meeting the strategic objectives of a marketing plan, it should

In this research project I will be mainly looking at the marketing strategy plan and do a thorough search on this topic. The project will have 6 sub-sections. Namely, the review of literature, methodology, processing of findings, conclusion, reference list and the appendix. Helping me to answer the question ‘What make a good marketing strategy plan?’ is the feedback on the questionnaires that I will compile and send out to companies. The questionnaires will be derived from the literature review.

342). The business challenge section describes the specific offering and summarizes the reasoning for why the company should invest in the offering (Tanner, p. 343). Next, the market section describes the current market status and outlines the organization’s customers, competition, and any other entities the company may work with throughout the process (Tanner, p. 343). The plan should then detail the strategy that the organization will employ in order to sell the offering and to develop the market (Tanner, p. 346). Following the strategy portion, the budget section provides detailed assessments of all resources (i.e. personnel, equipment, locations etc.) that are required for a successful product launch (Tanner, p. 347). Lastly, the conclusion of the market plan reiterates the key aspects to include the offer itself, the target market, and communication plan; while also providing the reasoning for why the plan is the best choice (Tanner, p. 348). Ultimately, the marketing plan is valuable to an organization because it acts as a tool to sell ideas and provides essential details that are vital to the company’s overall success. Now that the elements of a market plan have been discussed, the following text will discuss how different marketing concepts are carried out into the execution of a marketing strategy.

The marketing plan habitually comprises time limits, budgets and allocations of staff and this can help the business identifying the definite marketing activities and specifications for the budget, setting and achieving marketing goals, bringing a marketing strategy in the company for life (Mcdonald et al, 2011)

For implementing a successful marketing plan, consideration of different functional areas of business support of senior executives and understanding of available resources and capabilities of the firm is imperative. The concept of marketing plan and its purpose of a company is elaborated in this report. In addition, this report presents a discussion about the different sections that should be included in an effective marketing plan of a food product. These sections are evaluation of environment such as PEST and competitive analysis and SWOT analysis. The objectives of the marketing plan, along with the market segmentation and consumer analysis are also important sections for the managers to include. Further, the significance of different marketing strategies, budget and control process are also elaborated in this report for the food marketing plan.

An effective marketing plan is one of the most important steps in introducing a new product or service. It is an essential tool in preparing executives, employees, and partners of the company in understanding the strategy to entering the market place with success. Having a solid marketing plan will not only ensure that the company is sticking to the schedule, but that the marketing resources are being disbursed wisely and appropriately (U.S. Small Business Administration). Some of the main objectives of an effective marketing plan include knowing and understanding the customer’s needs, ensuring the businesses strategy is in line with meeting those needs, developing a mission statement and strategy around meeting those needs, utilizing advertising activities that lead to successful interactions with customers, and having effective communication between the customers and the organization (Tanner & Raymond, 2012). The objectives of the marketing plan are met through several elements that summarize the goals, describe the offering, address the market, formulate the strategy, and determine a budget (Tanner & Raymond, 2012).

A marketing strategy is vital for any business, and the focus of any marketing strategy is to make sure that both your products and services are meeting not only the needs of your customers, but the long-term relationships with them as well. In order to be truly successful, a marketing plan must be flexible to allow for changes in your customers perceptions as well as demands, merely creating a marketing plan is not enough. Furthermore, your marketing plan should be monitored periodically for its effectiveness and any adjustments should be made accordingly.

Westwood, J., 2002, The Marketing Plan: A step-by-step Guide. 3rd ed., London, Kogan Page Limited, p

Organisations decides what to do with their business units and write them down in a marketing plan which will involves choosing a marketing strategy that will aid in the realisation of an organisation’s objectives(Kotler and Armstrong,2008).

According to Smallbusiness.chron.com (2016) “Marketing plans serve as the blueprints for your company’s sales strategy.” It also enables a business to provide details plan for the upcoming year so that they will be able to make changes to or evaluate the plan if the market changes. A marketing plan provides all the tactics that a business uses to achieve its objectives in order to gain results in sales. Marketing plan helps an organization to execute its marketing strategy and it also enables them to create services or products that will satisfy customers’ needs.

For long run survival and growth, companywide strategic planning is done which involves defining a company’s mission, setting companies goals and objectives, designing the business portfolio, planning other functional strategies. Marketing Strategies and programs operate within the broader strategic plans of the company. Guided by the company strategic planning, the marketers manage the marketing system. The management process consists of:-

A marketing strategy is a company's hope to achieve strong and profitable customer relationships by targeting certain customers, using a marketing mix, and implementation. In an ideal world, strategies at all levels of the organization should be well spoken and understood. Interpretations of the strategies then result in realistic, well-defined marketing plans and programs which can be created and acted upon. Organizations can have a greater chance of being successful if they develop deep understanding of markets and the customers within those markets. The marketing strategy is a dynamic document which focuses on bringing plans to life. It is a road map for carrying out marketing activities and implementing marketing plans. Every marketing

All the marketing process is built according to a plan that includes the core concepts of it, especially the comprehension of the marketplace and the consumer needs.

A marketing plan specifies who the enemy competition is, who the customers are, where they get their information and how you’re going to deliver the message to them (Mulvey & Britt, 2010). It can be a stand-alone plan or included within a business or strategic plan.

As the first step situation analysis is done which includes market analysis, financial analysis, customer’s analysis, competitor’s analysis and SWOT analysis. They have many competitors in the city, to overcome the threat of competitors new marketing strategies are to be developed. So, as the second step a new marketing segmentation, targeting and positioning (STP) process is planned. As the third step, 4p’s of marketing mix is planned.