Marketing Planning

Best Essays
Course code: GSBS 6005

Assessment 3: individual reflective essay

The purpose of this article is to analyze and explore the characteristics of the marketing plan. Firstly, it will identify the role and nature of marketing plan. Secondly, it will outlines the structure of the marketing plan. Moreover, the paper will determines the each elements in the marketing plan and the linkage between these elements. Additionally, the two misconceptions will be examined. Last, it will conclude the marketing plan is indispensable to the organizations.

Role and Nature of Marketing Plan
Marketing plan is a business document that describes the marketing environment, outlines the marketing objectives, analysis current position
…show more content…
The first stage is organization perform a situation analysis of marketing environment. The situation analysis will outline the specific organization 's goal, and define the potential customers, competitors and distributors. In addition, It also identifies the factors of internal and external environment that support or hinder the organization 's objectives, and ensures the market planning effectively. Moreover, the SWOT analysis applied to the situation analysis process, which can identifies strength, weakness, opportunity and threats of the company.

The second stage of develop a marketing plan is set marketing objectives. The management will set the market objectives after understanding the market environment, business weakness and strength. The marketing objectives indicate what marketing function must accomplish on behalf of the organization(Solomon, 2012). Marketing objective is different from the organization objective planned in first step, as the marketing objectives are more specific focus on the brand image, sizes, sales, products. Meanwhile, the organization objectives state overall operations of organization. Once define the marketing objectives, the marketing strategies can be develop.

Therefore, the third stage is develop marketing strategies. In this marketing planning process, managers must choose the target markets and positioning their products in the markets at first, and then they will develop the marketing mix strategies to support the
Get Access