Marketing Planning Assignment
Diploma in Business (Marketing)
Unit Number and Title
The following marketing planning assignment has been generated through both group work and individual wok. With this the ability of the group as well as individual potentialities are also assessed. The report is consisting of the concepts of the marketing planning. The changes in the perspectives of marketing planning have been reviewed. Capability of the organisation in planning the future marketing organisation marketing activities and enlarging the abilities are assessed. Different techniques which are associated within the organisational audit are evaluated within this document. Marketing planning has been developed on considering the product of the chosen organisation. The pricing policy, communicational mix and the distribution processes are assessed and recommendation has been given upon the existing ones. Different factors which are impacting over the implementation of the marketing planning are evaluated. The barriers and heir impacts over the marketing planning are examined and assessed. On understanding different ethical issues the assessment has been developed on different ethical issues and their impacts on marketing planning. Task 2 and task 5 has been constructed considering the IKEA plc and individual reflection over the group work is also added on these tasks.
In the form of a report, review the changing perspectives in the marketing planning. (LO1/AC 1.1)
The concept of marketing is related to the creativity and instinct. Considering the development of the marketing planning the available resources and the market research must be done in order to get the knowledge on the various perspectives of the market for constructing the marketing planning efficiently. (Wilson, 2012) These perspectives can be helpful in considering the possibilities and pitfalls which may affect the marketing planning in successes or can negatively affect it. The changing perspectives of the organisation can be identified and reviewed through certain steps:
- Four Ps: four Ps are the elements which are associated within the marketing mix . In order to place a product within the market the elements of the marketing mix are necessary to consider. Through the four Ps – place, product, price and promotion the current situation within the market can be analysed. Different pricing issues and the competitive pricing strategy analysis will helpful to consider the pricing strategy efficient for the product. Through analysing the concept of the product and the other Ps the marketing planning can be developed through efficient strategies. (Wilson, 2012)
- Situation analysis: situation analysis has been made on market factors such as the economic condition, political situation, environmental impact, legal impacts etc. Through this analysis the strategies of the competitors, customer demands, current trends within the market and also reveal own position within the market. Before constructing the marketing plan the situation analysis must be formed to identify the existing weakness and opportunities and revealing the strengths and the threats associated to the future perspectives. (Wilson, 2012)
- Push and pull: marketing planning must be developed on considering the modern approaches. in traditional techniques the marketers tend to push the product within the market. In the new marketing planning the Pull strategy has been considered by the marketers. The pull strategy tends to pull the customers towards the products and the services through providing efficient information on the product. This strategy of market has been considered in the marketing planning in order establish proper relationship with the customers for doing business successfully. Along with the pull strategy the organisation needs to consider the other strategies such as the training, promoting the product and services, sales etc. (Wilson, 2012)
Examine the techniques for organisational auditing and for analysing the external factors that are affecting marketing planning. (LO1/ AC 1.3)
Organisational audit is done by taking different techniques for analysing the weakness and the strengths of the organisation. Considering the organisation Mark & Spenser different techniques can be taken in account for analysing the organisational capabilities and also evaluating the external factors for the market planning. By making the audit the internal and also the external factors are considered. (Horner, 2012) Through the audit the organisation will be able to identify the future threats and the conflicts associated with the market conditions.
- SWOT analysis: through SWOT analysis the current weakness and the strengths of the organisation can be evaluated these are helpful in analysing the internal factors. Through this analysis the organisation can be able to adapt effective changes within the organisation. The opportunities and the threats are also analysed through this technique. The future threats and the opportunities in the market can be identify by considering the external market forces which are existing within the organisational environment. The opportunities are adapted by eth organisation for handling the threats and the weakness. (Horner, 2012) This technique is required for the implementation of the marketing planning as well as developing it. Through the analysis the product development and influencing factors can be analysed. Through this technique the organisation can reduce the current weakness and adapt potential and possible measure to increase the strength.
- PESTLE analysis: through the PESTLE analysis the organisation will be able to analyse the external factors which are associated with the business environment. Before developing the marketing planning the organisation must evaluate the factors which are related to the business. The PESTLE analysis has been used by the organisation to identify the possible situation in different dimensions of markets such the changes in the political situation, the changes in the economic scale, inflation rates, the possible adaptation of the technological platforms and the development within it. The PESTLE analysis is helpful in designing the competitive strategies by analysing the competitors in similar business platform. Legal changes are impactful for the business in retail. (Horner, 2012)
Your company is interested in growing their business by developing products and markets. As a result, they have asked you to examine techniques for new product development. (LO3/AC: 3.3)
Through the development of the new product the organisation like Mark & Spencer can extend the product line as well as extend the product life cycle. By improving and updating the existing products and placing new products within the market is essential to have the satisfaction of the existing customer base and also to approaching the new customers. (wharton.upenn.edu., 2016) Through this approach the customers are retained by the brands and the competition is handled. For the new product development the organisations approaches different techniques. Considering the business of Mark & Spencer, as the organisation is doing business within the retail sector new product development is the necessary step for the organisation in order o survive within the strict competition in the market.
Different techniques for the new product development:
- Brainstorming: developing new product needs the appropriate strategies to develop the product according to the market needs and also to achieve competitive advantages within the market. Uniqueness within the product is the necessary steps which must be followed by the organisation Mark & Spencer. On the new product development the brainstorming strategy must be followed by the management of Mark & Spencer. This technique will enforce new ideas and also the innovation in the development and the production. This technique will work as the stimuli in creating the new and unique ideas in the new product development. (wharton.upenn.edu., 2016)
- Delphi method: this method is originated for the evolution. With the evaluation of the existing product the management will get the idea to develop the new product. Through the evaluation the necessary development aspects in the new products are realised which would be implemented in the new product. (wharton.upenn.edu., 2016)
- Focus group: considering the feedbacks form the focus group the necessary requirements which would be added within the product are analysed. Though this method is associated with the large budget but it is useful in identifying the rare needs in different situation. (wharton.upenn.edu., 2016)
You need to reflect on your group work in task02 and task 05, and assess your learning that you achieved in both. Also, state what contributions did you made to the group works.
Through the group work in this assignment the analysis of different concepts of the marketing planning has been done. Through this assignment I have assessed the group work ability. Different researches have been made on developing the concepts as well having the knowledge over the particular concepts. Through the groups I have gained the ability to research work and have capability to construct the ideas on sharing information. This group work is efficient for me to grow the capability in knowledge sharing.
The marketing is a vast concept which is associated with different sub categories. The concept of the market has been developed by analysing the current outcomes and also analysing different reports on journals. Through group work the collection and gathering of different data has been done easily. The formulation of the marketing planning and the developing different strategies for the marketing require the essential knowledge over different approaches. Through the brainstorming method the different innovative and creative ideas are formed. Through this method and application I have gained the knowledge on formulation of the marketing planning in efficient way. I have obtained the necessary knowledge in producing the marketing planning and assessing the organisational capabilities.
Within the group work I have the responsibilities in drafting the document. I have also participated in the brain storming which is effective for me to gain the capability bi forming different creative ideas and sharing of knowledge.
Assesses the main barriers to marketing planning (LO2/AC: 2.1)
The main barriers to marketing planning are mentioned as under,
- Organisational barriers – This kind of barriers considers aspects like culture of the organisation, management associated with change, ethical aspects, and resources. For the culture of the company, the barrier can be referred as reduction in trust regarding the process of planning by the manager and the staffs of Marks & Spencer. This will result in the distortion of the planning process in relation to marketing which will occur for failing to identify the cultural scenario. Then the management associated with change is a barrier that considers the absence of effective communication strategy, another important barrier in respect of marketing planning takes place as a result of the absence of resources which considers the attribute of time, people and money.
- Expectation of competitors – This is a significant barrier in regard of marketing planning where the competitor’s expectation will be creating an impediment in respect of marketing planning. (Frydman, 2013)
- Expectation of the consumers – This is a significant barrier in regard of marketing planning where failure to meet the consumer’s expectation give rise to a major hindrance in respect of marketing planning in Marks & Spencer.
- Environmental barriers – The current issues that depend on the external environment of Marks & Spencer in relation with the social, legal, political, economic, environmental and technological aspects could be regarded as significant barrier for marketing planning that will be limiting the scenario by which the relation within Marks and Spencer as well as its environment will occur. (Furnham, 2012)
- Cultural barriers – Having reduced faith in the planning process in relation with the manager and employees of Marks & Spencer is regarded as cultural barrier, that will result in distorted planning in respect of marketing that will take place for not being able to identify the cultural aspects particularly for international marketing.
- Cognitive barriers – Having limited knowledge or ability will result in reduced proficient characteristics that are a major reason in respect of distortions in marketing planning. As a result, unable to possess appropriate ability of the marketer will fail to recognise the markets, products as well as consumers in an appropriate manner and there will result in the creation of marketing plans that are flawed.
Examines how organisations may overcome barriers to marketing planning
The ways for overcoming the barriers in marketing planning are mentioned as under,
- To overcome analysis barriers – For doing this, the managers working at Marks & Spencer should be provided with the assistance in respect of the strategic analysis process. Various steps are considered in this respect such as providing an efficient training process in a specific area, providing a systematic way with specific standard methods in having the assessment of strategies. In this respect, proper training can be given and expert consultation can take place in respect of marketing planning. (Freeman, 2010)
- To overcome agenda setting barriers – For overcoming this type of barrier, particular techniques can be used such as collection of each and every suggestion as well as ideas in regard of the middle management in the organisation. Along with this, undertaking the method of reviewing, clustering, filtering as well as prioritizing those aspects for the derivation of the products that are very much efficient. (Freeman, 2010)
- To overcome strategic finding barriers – For overcoming the barriers associated with strategic finding, there is the utilisation of different kinds of ideas to make sure that there occurs the replication of different circumstances as well as various stages of information in relation with the organisation that is being considered which is Marks & Spencer. This take place by the taking into consideration the views of the officials working in the senior management position of Marks & Spencer in the organisation’s operational division in respect of the small divisions and offices that are situated at a far-off place from the headquarters of Marks & Spencer. In this respect, there can occur the utilisation of external information to overcome the barrier related with strategic finding.
4.1) Explain how ethical issues influence marketing planning.
The ethical issues of Marks and Spencer influences its marketing planning in the following way.
- Market Research: The main ethical problems in market research of M & S include the invasion of privacy along with stereotyping. This occurs because of the analysis of real population and for the purpose of constituting groups. If this is conducted irresponsibly, stereotyping can lead to multiple undesirable results.
- Market Audience: Selective marketing discourages demand from the market or completely disenfranchises them. The various examples of unethical marketing of significance done by the organisation in the past include that of the attitude towards the LGBT community, ethnic minority, etc. Thus M & S cannot engage in selective or discriminatory marketing as it will be deemed unethical. (Boundless, 2016)
- Advertising & Promotion Ethics: Ethics play a huge role in advertising and promotion. No content can be advertised or claimed to be true by M & S if it does not have any realistic and practical fact attached to it. Customers cannot be misled by claiming superficial things in the advertising content. If such a thing happens, then it will be termed unethical. No sales should be generated by selling lies to the customers.
- Delivery Channels: One of the most controversial forms of advertising can be considered to be the commercials that come on TV and radio. The electronic medium is one of the most popular mediums of imparting information via commercials. Thus the most unethical claims happen to be on the content of such commercials. (Boundless, 2016) Taking the Online medium into perspective, a lot of spam offers and distractive promotion is done for the generation of customer need which might not be entirely true, hence unethical.
- Deceptive Advertising and Ethics: It must be understood that deceptive marketing is not necessarily targeted to a particular target audience. One of the major ways of deceptive advertising is through humour. The intended puns used as a slogan or a tagline often exhibit separate and sometimes even contrasting meanings that lure the customers in availing a particular product or service. This can be termed as unethical as it is viewed as simply taking advantage of the customers. (Boundless, 2016)
4.2 analyse examples of how organisations respond to ethical issues
Marks and Spencer these days is considered as one of the most sustainable retailers. The high street retailer in the last few years has become a frontrunner in the conduction of ethical and sustainable businesses. M & S has transformed in the way it operates, from accountability in the supply chain to the minimisation of waste schemes along with the reduction of carbon footprint. M & S have recently joined hands with WWF (Worldwide Fund for Nature) and BCI (Better Cotton Initiative) to help facilitate the development of cotton that comprises of fewer pesticides and water. According to reports, 80% of the customers availing this brand state that they do care about environmental issues but does not want M & S to compromise with the style quotient related to their fabrics. Despite of this, the company has catered to sustainable ways of production which is a commendable effort. These efforts have been recognised sustainability campaigners and in 2012, M & S won the best supply chain at the Guardian Sustainable Business Awards. Other examples include M & S’s new women’s range called Limited London combining style and sustainability and the renowned lingerie collection for women which consists 50 % organic cotton and the other 50% cotton from sustainable sources. (Goodonyou, 2016)
Another example can be taken of the change in ethics code of Volkswagen and BMW in the wake of the bribe scandal. The Supplier Executives at Interior specialists are accused of arranging bribes for the purchasing managers at VW and BMW. As a result of this breach in ethics, both VW and BMW came up with new corruption preventing policies. On 27th June, 2006, VW issued a set of new and updated anti corruption guidelines that will prevent the employees from accepting gifts and without the supervisor’s permission no invitation to any sporting or cultural event should be accepted on personal ground and on behalf of the company. (Lewin, 2006) The purchasing department policies were also regulated which facilitated in frequent employee rotations within the particular department and the approval of more than one person governing every purchase decision. This is how they responded to the breach of code in ethics. (Lewin, 2006)
4.3 analyse examples of consumer ethics and the effect it has on marketing planning
One of the prime examples of consumer ethics in relevance to Marks and Spencer can be dated back to December 2013 when M & S faced boycott from its customers at a store in London as the M & S policy allowed the Muslim staff to refuse to sell alcohol and pork. Customers were taken aback at this shocking proposition put forward by the Muslim staff and boycotted the store instantly. The particular store’s facebook page was bombarded with comments from the customers and there was another website designed inviting people to join the protest. This is one prime example of violating consumer ethics as the people who went buying alcohol and pork were well within the rights to be granted the same as they were willing to pay money in order to acquire the same. (Salkeld, 2013)
Consumer Ethics makes sure that the marketing plan incorporates the following:
- Safety: The marketing of any product or service that can cause potential hazard to human or animal health should contain advisory or statutory warnings. On the identification of the problem, steps can be measured fix it.
- Honesty: All promises made in the advertising, marketing and promotional campaigns should be fulfilled. It should aim to satisfy the need it promises.
- Transparency: Complete transparency should be maintained with the consumers and stakeholders and they should know everything that is happening. This will ensure increased trust and loyalty of the consumers towards the company. Hiding facts can seriously harm a company. Mention can be made of the company ‘Enron’ that hid information about what was happening from its stakeholders. (Salkeld, 2013)
- Ethical Pricing: Target market data will give an idea on the spending capacity of the customers. Apart from this the pricing strategy should be based on overhead costs and supply & demand. Creation of dummy shortages and insulting the competitors are considered as unethical practices.
- Respecting Customer Privacy: When customers allow access to information about themselves to the company, the company should ensure that their privacy is maintained. They should not sell of the information to lead companies. Similarly, obtaining prospective customers’ information without giving any intimation to them is an unethical practice and should not be resorted to. (Salkeld, 2013)
These are the ways in which consumer ethics has an impact on marketing plan resulting in the compilation of socially responsible marketing by putting the well being and needs of the consumers as priority over the primary objective of generating revenue through profits.
Explain why marketing planning is essential in the strategic planning process for an organisation. (LO3/AC: 3.2)
Marketing planning is playing an essential role in the strategic planning process of Marks & Spencer. Marketing planning has its involvement in the strategic planning process at every level of the organisation. The strategic role of the planning process as well as marketing planning is now considered to be in a period of constant change as well as development. There are various factors of marketing planning that are regarded as significant in the strategic planning process for the company. (Fernando, 2011)
The factors that are considered essential in respect of the marketing planning are mentioned as under,
- It is considered as a road map for actualising the objectives as well as implementing the aspects associated with the strategies.
- It is considered to be the structural aspect for monitoring and controlling
- It is assisting in the clarification of roles as well as functional aspects.
- It assists in identifying the various methods by which the resources will get allocated in a proper way.
- There takes place the assignment of the responsibilities and the deadlines.
- There takes place the formation of responsiveness in respect of the barriers regarding the achievements.(Fernando, 2011)
- There is the ensuring of the concentration of the customers and the responsiveness of the competitors.
- This assists in providing the support in relation with the effectiveness and also utility.
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This assignment provides effective insight on the concept of marketing planning. A lot of aspects have been highlighted throughout the course of this study. The changing perspectives of marketing planning have been effectively reviewed in the form of a report. The organisation taken in consideration here is ‘Marks and Spencer’ and its capability for planning its future marketing activity has been analysed. The various new product development techniques have been discussed along with techniques of organisational auditing and the subsequent analysis of external factors. Apart from this, an effective marketing plan on a chosen product has been compiled backed by effective research. The ethical perspectives and impact on marketing planning has been discussed with relevant examples and we also get to know how marketing planning is important in compiling the strategic management plan for a particular organisation.
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Fernando, A (2011). Business Environment
Freeman, R (2010). Stakeholder Theory: The State of the Art. Cambridge University Press.
Frydman, R (2013). Rethinking Expectations: The Way forward for Macroeconomics. Princeton University Press.
Furnham, A (2012). The Psychology of Behaviour at Work: The Individual in the Organization. Psychology Press
Goodonyou. (2016). How Marks and Spencer are Becoming One of the Most Sustainable Retailers. [Online Available at:]. http://goodonyou.org.au/how-marks-and-spencer-are-becoming-one-of-the-most
sustainable-retailers/ .(Accessed on: 11th June, 2016).
Lewin, T. (2006). VW, BMW change ethics codes in wake of scandal. [Online Available at:]. http://europe.autonews.com/article/20060821/ANE/60818033/vw-bmw-change-ethics-codes-in-wake-of-scandal.
(Accessed on: 11th June. 2016).