Marketing Planning

The third table is to outline some of the activities we might find at each stage of the marketing process; this is brief summary of the importance of the different stages.

A situational analysis is important as it provides a clear and precise understanding of the business’s current position and where it is heading. For example, prior to Aldi entering the Australian grocery market it conducted an analysis of its strengths, weaknesses, opportunities and threats (SWOT analysis) and saw an opportunity to expand its operations to Australia selling low cost grocery items. For a situational analysis to be reliable it must always be based on meaningful market research.

What is marketing strategy? The process of matching the organisation’s strengths to the customer needs, with the aim of achieving a competitive advantage in the market. The combination of product, price, distribution and promotion most suited to a particular group of consumers. • Goal: the create a sustainable competitive advantage in the market • All the elements of the marketing strategy that lead to the development of the competitive advantage require good understanding of consumer behaviour Marketing strategy process: • 1. Segment: understand consumers a. Determine the dimensions (age, geography, subculture) b. Determine the heterogeneity c. Define the needs & goals 2. Target: choose consumers a. Evaluate each segment in

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

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

There are over 1.1 million men and woman amateur and pro bodybuilders alone in the United States. The IFBB has competitors age ranges from as young as 16 years to as old as 83 within a range categories for competition, The NutiBullet Pro is a necessary tool to assist the competitors in preparing for competitions fulfilling a need for a quick, convenient and easy way for bodybuilders to create their protein shakes, whey smoothies or one of their required 6 to 7 meals a day.

Marketing planning involves looking at all angles, the best strategy that will enable a company utilize it resources efficiently. Organizational resources are scarce and thus planning become inevitable. Analyzing the marketing requires adequate knowledge with proper strategies to seize opportunities that exist. Market planning requires that organization understand their internal and external environment. Internal

Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in marketing to keep consumers interested in their products and services. The success of a company may rely on the company’s marketing performance. Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed. Developing a marketing strategy will consist of the marketing mix.

The marketing plan has close ties with the overall financial and business plan. This plan contents a strategy for success, and breaks it down into coherent, actionable components that will aid The Sub Shop to implement marketing activities to provide a firm return on investment. The following areas will help explain how the company plans to differentiate the business and product offering from the competition, and define the strategy that will drive its business forward.

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in

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)

Marketing strategy is the goal of the increasing sales and achieving the sustainable competitive advantages. Marketing strategy includes all the basic and long-term activities in the field of the marketing that deal with the analysis of the strategic initial situation of the company and the formulation, evaluation and selection of the market-oriented strategies and therefore it contributes to the goals of the company and its marketing objectives.

On the other hand, the managing marketing implementation is the process that helps customers to keep in mind the strengths of the company. In order to accomplish this, three stages are required to be followed such as an analysis of the markets and trading environment, determination of core markets and brand positioning and last, but not least, setting up flexible programmes for implementation. Controlling the marketing plan should include the flexibility of objectives, empowerment for environmental changes and monitoring, in order to allow new opportunities for the business.

Consequently Marketing Communications Plan is the marketing plan which promotional plan incorporates two or more integrated marketing communications mediums aiming to reiterate the same goals and objectives. Marketing Communications Plans are considered by many professionals as an excellent way to effectively communicate with target audience. The development of a cohesive and integrated marketing communications plan demands the adoption of a systematic process to ensure that all dimensions of the plan are carefully and considered (Yeshin, 1998, p. 70). the