Review Of Changing Perspective Of Marketing Planning

1334 WordsFeb 3, 20176 Pages
Task 1: Compile Marketing Audits 1.1: Review of Changing Perspective in marketing Planning: Marketing planning is a medium which helps a company to form different marketing strategies for gaining favourable market place where it can earn more profit. Marketing planning has undergone various changes in last decade because of dynamic environment, innovation, technology and changing preferences of customers. So in that context there are mainly two approaches of marketing planning: 1: Traditional marketing plan is also known as Marketing-LED which involves leading of a company by marketing department. In this approach, marketing plan is made as per needs and requirements of customers by aiming their satisfaction with product or service.…show more content…
However, most of the human resources of Tommy Hilfiger are capable to deal and adjust with these changes.  Physical Resources: Infrastructure facility would be required in developing countries but Tommy Hilfiger is capable to locate these resources as its financial base is strong as well as building, equipments, machinery and furniture can very easily be allocated without any hurdle.  Financial Resources: It is very much clear that for expansion of market base every company requires financial resources. Tommy Hilfiger has very strong financial base so it is not an issue for the company to raise funds and invest judiciously in business expansion. 1.3: Techniques for Organisational Auditing and for Analysing External Factors that Affect Marketing Planning: Auditing involves measurement the performance of a company so if there is any gap or any aspect which requires improvement can be analysed and the issue can be solves efficiently and effectively (Hollensen, 2015). Tommy Hilfiger needs a planning of new marketing techniques as it is planning to expand its business in developing countries. Chaffey, D., Smith, P. R. & Smith, P. R. (2012) defined that there are different techniques of

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