Developing and implementing marketing plans

Developing and implementing marketing plans

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Developing and implementing marketing plans

components of a marketing plan

  • a SWOT analysis
  • forecasting sales and amrket analysis
  • setting SMART marketing objectives
  • agreeing marketing strategies
  • allocating marketing budget
  • implementing marketing tactics through marketing mix
  • control and review

internal influences on the marketing plan

  • operational issues - if the marketing plan is aiming to create up marketqualtiy image, it is vital the operations department can manufacture products of a high enough quality to meet this requirment
  • finance - it may be necessary to curtain marketing activities if insufficient funding
  • HRM- successful marketing strategies need people to deliver them. consequently, HRM and amrketing need to coordinate their activites
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external influences on the marketing plan

  • marketing factors
  • competitors actions
  • technologial change
  • suppliers
  • political factors
  • social factors
  • legal facors
  • environmental factors

methods of setting marketing budget:

  • budgeting according to marketing objectives
  • budgeting according to competitors spending
  • marketing budget as a % of sales revenue
  • zero budgeting/budgeting based on expected outcomes
  • budgeting according to last years budget allocation
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factors influencing size of marketing budget - the overall size of the budget depends on:

  • marketing objectives
  • actions of competitors
  • benefits to be gained from spending last years allocation
  • the organisations financial situation
  • the cost of advertising in particular media
  • the nature of the market
  • consumer expectation
  • level of change in the amrket
  • the potential return compared with other activities
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benefits of amrketing planning

  • it provides a clear sense of direction
  • motivates staff if they are given responsibility for an element of the plan
  • decisions are based on bus logic, involving comparison between alternative strategic approaches
  • it is possible that more than one person will be involved in the process
  • the plan arises from consideration of all functions of a bus
  • departmental plans such as the marketing plan allows senior managers to compare alternative demands for resources
  • managers can assess efficiently by comparing actual outcomes with the plan and discovering the reasons for any differences
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issues implementing marketing plans

  • it takes excessive time in the planning and reviewing stages
  • there are constant changes in the market, leading to an inability yo assess the effectiveness of the planning process
  • there is a lack of coordination between the different functional plans and the corporate plans
  • plans are too ambitious or complicated
  • review of progress against the plan seldom takes place or lacks regularity
  • the plan remains rigid despite significant changes in circumstances, such as a recession or a high turnover of staff
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