Importance Of Marketing Plan

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Marketing Plan

1. Introduction - shows aim of report - gives definition of marketing - reworded - may include brief description of product / service - may show understanding (briefly) of marketing application to product - importance of marketing plan

marketing def – process of planning, executing conception, pricing, promotion and distribution of ideas, goods, services to create exchanges that satisfy individual & organisation’s objectives.

2. Product / Service Description - example – Chocolates, nuts. fudge, gift packs, pre-packaged chocolates (low cost impulse items). These afford the benefits of being affordable luxuries with a modern appeal: trendy, upscale, affordable status products that taste good.

3. Market Research (text p146-153) - its importance – shown applied to particular product etc - the research process - determine the objectives – state Q/s expect research to answer (relating to customers & competitors) - determine data collection methods - 2 types - which was used & why? - analyse data – briefly – used in other sections market research – def – systematic collection, analysis, reporting of data to aid marketing decision-making primary data – collected from original sources secondary data – data that already exists – previously collected and published

4. SWOT - Strengths & Opportunities -what they are & how utilised Weaknesses & Threats - what they are and how they will be overcome

5. Marketing Goals / Objectives - S/T – eg – develop brand name loyalty – expand – get better market data - Test new product line etc - L/T – eg – expand – develop mail order business etc

6. Target Market - describe target market & how known (research) market def – group of potential consumers of a product target market def – selected group of people that constitute a potentially profitable market segment. 7. Marketing Strategies (text p140, 131(envir factors) def – approach used to accomplish a marketing objective could mention orientation/s being applied –

marketing – def – consumer sovereign – must identify and meet consumer needs societal – def – enhance consumer’s and society’s well-being relat. marketing – def – focuses on relat between bus & customer – seek L/T alliance – improve exchange value for both – strengthen customer loyalty (least likely)

could mention whether is niche, mainstream or
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