Marketing Plan

827 Words4 Pages
Marketing & Business Environment
Marketing Planning: An Overview of Marketing

6 main questions to ask in order to create your marketing plan:
1. Where are we now? (Business Mission, Marketing audit, SWOT analysis)
2. How did we get here? (Business Mission, Marketing audit, SWOT analysis)
3. Where are we heading? (Marketing audit, SWOT Analysis)
4. Where would we like to be? (Marketing objectives)
5. How do we get there? (Core Strategy, Marketing mix decisions, Organization, Implementation Plan is vital!!)
6. Are we on course? (Control)

A. Business Mission
A business always has a Mission, Vision and Values.  IDENTIFY THEM
 What is the business mission? The purpose of the business
 Vision? The future (direction) of the
…show more content…
Strategic Objectives

Build – Hold – Harvest – Divest.

Strategic objectives are, in general, externally focused and (according to the management guru Peter Drucker) fall into eight major classifications:
(1) Market standing: desired share of the present and new markets;
(2) Innovation: development of new goods and services, and of skills and methods required to supply them; (3) Human resources: selection and development of employees;
(4) Financial resources: identification of the sources of capital and their use;
(5) Physical resources: equipment and facilities and their use;
(6) Productivity: efficient use of the resources relative to the output;
(7) Social responsibility: awareness and responsiveness to the effects on the wider community of the stakeholders;
(8) Profit requirements: achievement of measurable financial well-being and growth.

Comparative analysis is done through benchmarking. There are 3 types of benchmarking:
External, internal and best in class benchmarking

Core Strategy

A core strategy in a marketing plan is a way of deciding on what elements to buy more, which ones to hold on to, and which ones to sell. Most marketing plans face a number of frustrations and the core relationship strategy is a great way of solving some of the problems.

Marketing Mix Decisions

The marketing mix is a set of controllable tools that the organisation blends in order to produce the response it wants in the target

More about Marketing Plan

Get Access