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Unit 19 Marketing Planning Assignment Copy
With the verification of various aspects related with market a report is generated in concentration with “Marketing Planning” in which knowledge regarding various aspects of marketing will be discussed. The Unit 19 Marketing Planning Assignment Copy is aimed at providing effective set of knowledge regarding what marketing planning is and what are the different activities an organisation should kept in mind while making a marketing plan. Report will deliver information regarding process of marketing plan and ethical aspects that are to be taken under consideration while making a plan. These aspects will help the organisation to implement the plan in an effective manner and to make sure that organisation could sustain in the market.
1.3 What are the main techniques for the organisational auditing that you would use and for analysing external factors that affect marketing planning in your organisation?
There are various techniques that could be used so as to audit the organisation which could help in data analysis the external factors that affect marketing planning of Samsung. Audit is a necessary activity that is to be indulging in the organisation. With the help of Audit examination of various factors could be done by the manager with the effect of which organisation could ensure that it could formulate effect set of changes and could manage its plans which could help it to sustain in the market. Therefore various techniques that could be used to audit the external factors of Samsung are:
- SWOT Analysis: This is the way with the effect of which analysis of the strengths, weaknesses, opportunities and weaknesses of the company could be done. With the help of SWOT analysis auditor could gain effective set of information regarding the internal process of the company with the effect of which it could ensure to provide the true information regarding the position of the organisation where it stands (Salmani, et. al., 2014).
- PESTEL Analysis: PESTEL analysis is another factor with the help of which an audit regarding the external factors could be done by the auditor. With the help of PESTLE analysis an auditor could ensure that it could find out all the external factors which could affect the organisation.
- Porter’s Five Forces: Auditing according to the five forces provided by Michael Porter would help the auditor to gain the information regarding various forces available in the market which could affect the organisation. With the help of this auditing auditor will be able to provide effective set of strategies with the effect of which it would be able to ensure that organisation could sustain in the market (Salmani, et. al., 2014).
Various techniques that could be used are posting verification, extension verification, vouching, confirmation, physical examination, reconciliation and testing.
1.4 Carry out organisational auditing and analysis of external factors that affect marketing planning in the given situation to your organisation?
Developing understanding with the techniques of audits, it becomes necessary to carry out the audit with the effect of which analysis of various external factors could be formulated in the organisation with the help of which organisation could be benefited in an effective manner:
Samsung’s SWOT Analysis
Samsung have a flexible nature with the effect of which it could ensure to make changes according to the market condition.
Offering quality product has developed trust in the targeted customers.
It have a very vast area of operations which helps it in fulfilling the demands of customers in an effective manner
Moving to the global market will help Samsung to grow in the path of success.
Emerging trend has increased the use of cell phones which could help in increasing the sale of the products of Samsung
Price of the mobile phones of Samsung is high which could affect its sale in the market.
Low use of marketing strategy will also affect the sale of Samsung
High competition can affect the image of Samsung
New entry in the market could also affect the market of Samsung
Samsung’s PESTLE Analysis: Political Factor: As Samsung is working in an international market therefore it will have to face issues with various the policies made by the political parties of the place where it is doing the trading (Munir, et. al., 2011). Policies varies from place to place with the effect of which organisational policies also gets affected. Therefore it becomes necessary that Samsung should formulate the policies according to the country in which it is doing the trading.
- Economic Factors: Different countries have different set of economic system which affects the organisations doing business in the market. Various economic factors like inflation rates, exchange rates, interest rates may vary from place to place which could affect the revenue and the market of an organisation (Toledo, et. al., 2014).
- Social Factors: society in which an organisation is doing the business could affect it; it is a duty of the organisation to help the society in which it is doing the business as it will help it to sustain in the market.
- Technological Factors: technology is one of the factors which are unpredictable; as Samsung is doing the business in the technological market therefore it will have to remain upgrade. If Samsung will not do so then its competitors will attain advantage which will affect the goodwill of Samsung (Toledo, et. al., 2014).
- Legal Factors: Legal rules and regulation of every country are different breaching them could affect the goodwill of the organisation and could affect the customers present in the market.
- Environmental Factors: Environmental sustainability should be kept on priority by every organisation present in the market. If any process of Samsung will affect the environment then the Samsung could get affected as any legal action could be taken in consideration with the fact.
Task 3 Prepare a Report to Senior Manager
3.1 Marketing Plan
Plan is the process with the effect of which an organisation gets a blueprint of the future activities that it will be indulging in and helps in making the decision regarding what is right and what is wrong. For Samsung it is necessary to make a marketing plan as with the help this plan it will be able to manage its marketing activities and will be able to ensure that it could spread effective set of information regarding its product in the market.
Mobile Strategy: Heading towards the plan it is necessary that step by step process should be followed which will help in preplanning of the strategies and implementation of the set plan in the organisation:
- Goals: Defining the goals and objectives of the organisation and implementing them will help in moving on the verge of effectiveness. Samsung should keep the SMART Goals for the organisation:
- Specific: It is necessary that the goals that are to be set should be specific in nature.
- Measurable: It could be measured so that progress of the organisation could be determined.
- Attainable: Goals set for the organisation should be attainable. They should be set for the progress of the organisation (Hamdi, et. al., 2014).
- Realistic: It is necessary that the goals that are set for the organisation should be realistic. Fantasies should not be involved in the goal setting process.
- Time Constraint: Every goal set for the organisation should be achieved within the time frame so that this process could further be processed (Finkle, et. al., 2011).
- Market Analysis: After setting up of the goals it is necessary that the market should be analysed with the effect of which organisation would be able to ensure that it could make effect set of strategies with market requirements. Taking the feedbacks of the people present in the market, gathering information regarding competitors and new entries in the market will help in gaining effective set of knowledge regarding the market.
- Defining the Media: After analysing the market next step is to define the media with the help of which marketing of Samsung’s product could be done, like marketing via messaging, marketing by emails or by social media (Whitted, 2012).
- Defining the Massage: message that is to be delivered should be appropriate and should be influencing so that target people could influence to purchase the product of Samsung.
- Create Opportunity to Share: Samsung has provided the opportunity for the target users to share their views with the effect of which they could share their views regarding marketing and product of Samsung. This process will help Samsung to expand its business in other parts of the world (Salmani, et. al., 2014).
- Stages of Marketing Plan: planning for the marketing of the organisation will ensure to provide the effect set of opportunities to the business. There are several set of stages involved in marketing plan following which will help Samsung to sustain in the market.
Stages Involved in Marketing Plan
- Selecting the Mission: Every organisation has certain set of mission on the basis of which organisation could grow and could move on the verge of sustainability. Mission also act as a motivator for the organisation and help in developing the effective set of plan for the organisation to stable in the market (Salmani, et. al., 2014).
- Setting up Corporate Objectives: setting up the objectives provides a motive for the organisation with the effect of which an organisation could ensure to work for its betterment. Objectives help in determining further requirements of the organisation.
- Market Analysis: market analysis will help in developing the strategies with the effect of which Samsung will be able to ensure that it will sustain in the market and will move on the verge of success (Valos, et. al., 2016).
- SWOT Analysis: after analysing the market doing SWOT analysis according to the market will provide an idea to the organisation that where it stands. With the help of SWOT analysis Samsung will be able to make the strategies according to its strengths and opportunities it have. Analysis of weaknesses and threats will help Samsung in making the decision regarding changes required to overcome those weaknesses and will help in developing plans to reduce the risk of threats from the organisation.
- Marketing Hypothesis: Developing certain set of hypothesis will help in gaining the information regarding what are the requirements that are to be fulfilled by the company. By developing the marketing hypothesis of Samsung it would be able to ensure that it will fill the gaps and will be able to work effectively in the market (Valos, et. al., 2016).
- Marketing Objectives and Strategies: analysing the marketing objectives like what are the market needs and requirements and developing the strategies according to those needs and requirements will help the company to ensure sustainability of the company in the market.
- Forecast the Business: Forecasting is the necessity for every organisation. With the help of forecasting organisation will be able to ensure that it will make effective set of strategies for future aspects with the effect of which it would be able to make the changes according to the future requirements.
- Alternate Plan: An alternate or a spare plan should always be there with the organisation. Spare plan ensures the flexibility of the organisation and flexible organisation could sustain effectively in the market (Finkle, et. al., 2011).
- Budgeting Alternate Plan: After the whole process will be implemented then it will require budgeting. Preparing the budget will help Samsung to gather the funds for its marketing process. This will ensure that the organisation would be able to do the marketing of its product effectively in the market.
- Implementing the Plan: Moving ahead with every stage it is necessary that Samsung should implement the whole plan so that it could move further to attain its targeted goals. By implementing the plan practically will help Samsung to grow and will help it to attain competitive advantage in the market.
- Gathering Feedback: After performing each and every stage it is necessary that feedback must be taken from the target customers. With the help of their feedbacks organisation will be able to analyse whether it is going in the path to achieve the targeted goal of they will fail in their prospect (Whitted, 2012). Getting the feedback will help the organisation to implement the alternate plan or to develop the strategy that would help the organisation to fulfil the needs and wants of the people present in the target market.
Selecting the Mission
1 May 2016
15 May 2016
Setting up Corporate Objectives
8 May 2016
20 May 2016
20 May 2016
31 May 2016
1 June 2016
10 June 2016
1 June 2016
10 July 2016
Marketing Objectives and Strategies
1 June 2016
21 July 2016
Forecast the Business
1 June 2016
21 June 2016
In Progress (Target Basis)
1 June 2016
25 July 2016
Budgeting Alternate Plan
25 May 2016
1 June 2016
Implementing the Plan
1 June 2016
31 July 2016
To be done
15 July 2016
10 Aug 2016
Above is a marketing plan showing that which process is completed and which process is in progress. With the help of the marketing plan Samsung will be able to monitor each and every step that will be indulge in the process and that has already occurred in the process (Valos, et. al., 2016). Making the plan and implementing it according to the set priorities helps the organisation to insure its success in the market. With the help of various processes an organisation could ensure to manage its work process in an effective manner and could ensure to manage all the work process in a systematic manner. Managing and implementing the plan in a systematic manner helps in the smooth functioning of the work process and helps in achieving the prescribed goals with the effect of which organisation could ensure its success in the market. After successfully implementation of plan it is necessary that Samsung should take a market survey and collect the feedback from the people available in the market (Salmani, et. al., 2014). With the help of feedback Samsung will be able to ensure that it will make the changes in its marketing strategies and would be able to satisfy the customers present in the market. Satisfying the customer is a very important part of the marketing as if customer will be satisfied then only it will influence to purchase the products and services from the organisation.
With the help of above report an effective understanding could be developed that the prescribed plan for marketing will help Samsung to increase its productivity. Implementing this plan will lead to show the upward movement of financial graphs of the organisation and will help it in attaining competitive advantage in the market (Salmani, et. al., 2014).
3.2 Explain to senior management why marketing planning is essential in the strategic planning process for an organisation.
Marketing planning is an essential part for an organisation with the effect of which organisation could ensure its growth in the market. Strategic planning will provide a blue print to Samsung with the effect of which it would be able to ensure that it could develop in the market. Advantages could be gained by the business with the help of effective planning. With the help of strategic planning business could ensure to meet outs its future targets. With the help of these plans Samsung would be able to find the demand of the customers present in market and could fulfil those demands by managing its production and supplies (Bishop, 2013). Strategic planning insures that the business process could be managed and people working in the organisation could avail the information of what to do, how to do and in what time frame will they have to perform the tasks. Both long term as well as short term targets could be fulfilled by the organisation with the help of strategic planning. Loops and breaches in the business process could be removed with the help of strategic planning. Priorities could be framed in an effective manner with the help of strategic planning and working upon the priorities always help in lowering down the work pressure. With the help of strategic planning business strategy could identify its current position in the market and could ensure to attain competitive advantage in the market so as to make an effective position in competitive market (Valos, et. al., 2016).
3.3 Explain to senior management what the need for new product development is and examine techniques for new product development.
Change is the necessity for every organisation, making some or the other positive changes in the process of business ensures that the business could grow and could mark its position in the market. Therefore bringing the change in the product will help the organisation to expand its business and will help in attracting more people towards it with the effect of which business would be able to grow in the market (Taghian, 2010). There are certain set of reasons behind why product development is necessary with the effect of which understanding could be made with the fact that bringing changes in the product will help in increasing the revenue of the business:
Developing the product will add value to the brand and will add value for the customers present in the market. Product development will ensure that certain set of values could add to the brand. Working upon the development of the product helps in influencing the people present in the market as they build a feeling of trust with the product. New and increasing values are one of the factors that help the company to keep on growing in the market (Salmani, et. al., 2014). If organisation would not be able to offer the value for the customers then the business will lead to wilts and can eventually die in the market. Therefore working upon the product development and enhancing its value for the customer will help in attaining success in the market and will help in stability of the business (Toledo, et. al., 2014).
Improved society is another factor with the effect of which business would be benefited. Bringing the improvements in the product will help the society to sustain and improve. It is necessary that Samsung should bring technological changes in its products with the effect of which people present in the society could develop and could manage their living. Developing the product Samsung would be able to continue to maintain the existence in the market. If product will be developed then people will remember Samsung and will prefer to purchase its product. This process will continue for the years and years if timely development of products will take place for Samsung’s products in the market (Bishop, 2013).
Techniques of Product development
There are various set of product development techniques could be used by the Samsung with the effect of which it could be able to ensure its success in the market. Understanding distinctive competence in the market will help in ensuring that the business could develop the product with the effect of which Samsung could establish a position in the market. With the help of internal SWOT analysis Samsung would be able to ensure that what developmental changes it will have to bring in the product which would help it to sustain in the market (Whitted, 2012).
Market analysis is another factor with the help of which Samsung will be able to develop its product. Segmenting the market, targeting and positioning are the techniques which will help in market analysis with the effect of which business will be able to bring effective changes in the product. By determining the requirements of the market organisation would be able to bring developmental changes in the product. With the help of various surveys Samsung will be able to determine the requirements of the market and would be able to bring effective set of changes in the product which would help it to sustain and grow in the market (Valos, et. al., 2016).
3.4 Justify recommendations to senior management for their approval for the pricing policy, distribution and communication mix that you have suggested in the marketing planning.
Pricing Policy: Pricing policy of Samsung is based on the majority of the customers which could pay a bit higher to enjoy the quality product. Quality is the priority for Samsung which leads to hike in the price of the products of Samsung. The criteria of brand image are met by the pricing of products. Price of the products is set by Samsung so that effective set of revenue could be generated by it (Taghian, 2010). For Example: Samsung do segmentation of the customers according to which it avails the product to the target market. Therefore without compromising with the quality it provide products accordingly, for lower income level people Samsung provide J series mobile phones and for higher income people it provides Note series and S series of mobile phones,.
Distribution: Distribution systems of Samsung are very effective. Samsung works on the verge to acquire the target market in an effective manner. Distribution system of Samsung includes market survey on the basis of which it ensures to manage its demands and supplies of the market. Samsung uses the distribution channel in which it includes the wholesaler of the area to which bulk orders are provided which distributes the products to the retailers available in the market and retailers then sale the product to the customers available in the market (Salmani, et. al., 2014).
Communication Mix: For an effective marketing of the products of Samsung, it uses various marketing communication mix with the effect of which customers are influenced to purchase the products provided by Samsung in the market. There are various communication mixes that are used by Samsung so as to enhance its sale in the market and to gain competitive advantage in the market. Advertising is one of the techniques that is used by Samsung to spread the information of its product in the market. It advertises its product on internet, on social networking sites and on various internet video sites so that it could attract effective number of people towards its products. Samsung focuses on public relation for which it have provided 24*7 hour helpline calling on which customer could get solution to its quarry. Samsung has provided the services centres which ensure that the products of Samsung could get serviced after making the sale of the product. Samsung also uses effective sales promotion techniques with the effect of which it manage to attract the customers towards it products (Y, et. al., 2014). Using promotional techniques help the organisation to enhance its sale and so the revenue with the effect of which it could attain competitive advantage in the market.
3.5 What are the factors that can affect the implementation of the marketing plan and how have these been taken into account?
There are various factors that can affect the implementation of the marketing plans and it is necessary for Samsung to work upon these factors so that it could ensure its sustainability on the market. Lack of Coordination is one of the factors that could affect in the implantation of the marketing plan. It is necessary for Samsung to work upon the team working in the organisation with the effect of which it would be able to ensure that they will coordinate and would help in implementing the plan in an effective manner (Munir, et. al., 2011).
Availability of funds could hinder the process of marketing plan. It is necessary that Samsung should do proper budgeting and should avail the funds prior to implement the marketing plan for the products. Cultural Factors are another factor that could affect the implementation of marketing plan. It is necessary for Samsung to focus upon the cultural factors and to make sure that the process of marketing should not affect the values, beliefs and religion of the people available in market (Y, et. al., 2014).
The principles of an individual that bifurcates the right and wrong are termed as ethics. It is necessary for an organisation to follow all the ethical aspects related with the market. Fair and effective deals should be implemented by the organisation with the effect of which both organisation as well as customers available in the market could be benefited. An organisation should ensure that it should provide same products and services in the market which it shows in the promotional activities, actual product and price should not differ from the price and quality of products shown in various advertisements or any other marketing process (Radulescu, 2012). There are various ethical issues that should be taken under consideration by the organisation like health and safety of the people present in the organisation as well as out of the organisation attached with it. It is necessary that the product that is provided by Samsung should not harm the health and safety of the people. Technology is another aspect that could affect the people as well as environment. Samsung should provide eco- friendly products in the market so that it could make a contribution to the environmental sustainability. Transparency should be there in the process of marketing. Actual product of Samsung should not differ from the product it has shown in the advertisement. Samsung should indulge in the activities with the effect of which society could get benefited and it could grow. Development of the society is the responsibility of the organisation working in that particular society so that people could be benefited by its process and could grow on the verge of better future and sustainability (Toledo, et. al., 2014).
To ensure that the marketing plan could be implemented in an effective manner Samsung will help to ensure that the rights of the consumers should be safeguard from various unethical practices. It is necessary that organisation should consider various issues faced by the environment and should manage the plans according to which environmental sustainability could be attained. Marketing plans of Samsung should be planned in such a manner that it should not harm the values, beliefs, culture or ethics of the people present in the market (Hamdi, et. al., 2014). Working on these types of factors will help the organisation to grow on the verge of success and sustainability.
Developing an effective set of understanding with various factors indulge in the report it could be concluded that planning for a marketing of the products of organisation is a very important factor. With the help of such plans organisation could ensure its success in the market and could lead the market. It is necessary for the organisation to make the process of planning more effective and should ensure to work upon the aspects which could help it to grow. Understanding the market and needs and wants of the customers is a very important factor for organisation so that an effective plan could be created. It is also necessary to focus upon the ethics and culture of people with the effect of which organisation could build trust among the people present in market and could increase its revenue by implementing that plan.
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