Marketing Plan Case Solution
The suppliers are the players from which the raw material is purchased, having good and strong relationship with suppliers offer the common competitive advantage in terms of effective operation and cost friendly functions.
Shareholders and Competitors
The shareholders are the owners of the business and the aim of the marketing is to create value for the shareholder by increasing the profits and revenues.On the other hand,competitors are the players that offers the similar products in the markets hence keeping a close eye on the competitors, so to make the strategy to create customers in timely manner.
The external environment or factors refers to the environment that are outside the company control.
Political and legal environment
The political and legal environment refers to the laws and regulations posted by the government and legal system in which the business operates.The company has to comply with the political system and policies in order to operate in a certain region.
The economic factors include the national income, GDP rate, growth and consumer buying power.The company needs to address these factors in order to effectively design the marketing plan for the product.
The social factors include the customer trends and market trends.The company needs to incorporate the social factors while designing certain products or services in the market, since they effect the company directly. (Porter M. , 2013)
Marketing and its relationship with other functional areas of business
Today no business operations are carried out in isolation. Since the main objective of the business is to cater the customer and create value, all the functional areas in business (human resource, Research&Development, finance and production) aligns itself with each other hand with marketing to produce the product that aligns with the customer needs.
The relationship starts with the Research and Development process, that searches the market to gauge the change in customer behavior and market trends, such findings are incorporated into the marketing process while developing certain marketing mix for the product.On the other hand, the human resource manages the resource plan such as labor, skills and the equipment require to produce certain product in the market and to execute the marketing plan effectively in the market.The operational department on the other hand manufactures the products based on the market findings that the marketing team pursued along with the design and offers it has established to be incorporated into the end product or service.Lastly, the finance department provides the cash to the marketing campaigns and allocates the budgets to carry certain promotion, so to develop certain products in a market to cater the customer. Hence all the functional areas of the business integrate with each other to make a product/service successful in the market. (KOTLER, 1999)
Strategic marketing refers to the organizational strategies that are aimed to maximize the differentiation of the product/service in the eye of the target markets.It develops such strategy by answering three questions where, how and when to initiate the business in a particular market.
The marketing planning process is basically the series of the steps in a sequence.It involves the critical development of the mission and objectives along with the detailed outlined strategies to how to achieve the objectives.The main steps include in the development of the mission statement, objectives, market audits, SWOT, alternatives, expected results and implementation and evaluation of the recommendation to pursue particular strategy in the market.
The strategy is the steps or plan of actions taken to achieve the end goals.According to HBR, Strategy is basically the set of small achievable aims and objectives designed in such a way that follow a particular trajectory and leads to the end goals. (Porter M. E., 1996).
The organizational level refers to the different functions performed in the organization at different level to achieve the particular task or the objectives. In general, there are three organizational levels Top Level (CEO and directors), Middle level (managers) and Low-level (employees).The nature of work and the tasks differ at each level, and sometimes follows the top to down approach while disseminating the orders.
Goals and Objectives
Goals are basically the general vision of the company, what it wants to achieve in a particular period of time.These are basically long-term in nature and have a substantial effect on overall presence of the company in the market.E: g, to become the leading global player in offering eco-friendly solutions.
On the other hand, objectives refer to the actions that will be taken in an attempt to achieve the goals.They basically deal with the implementation part of the strategy. Unlike Goals, objectives are smart in nature that can be measured, retained, achieved and can be timely elevated or changed as per the demand of time. (Michigan, 2009).
Ethics in Marketing
Ethics plays a vital role in marketing. It is due to the fact that since marketing directly deals with the customer and value creation for the end market, ethics greatly frames the marketing strategy. In general ethics refers to the actions that do more good to the society thanharm. In marketing, the ethical perspective refers to the commitment and offering of such products that are ethical and have positive effect on the human life (Kotler, 2009)……………………….
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