...SEMESTER 2 MB0046-MARKETING MANAGEMENT Q.1) “Planning is a process of designing the Blueprint for the future”. In this context, explain Marketing Planning in detail. Ans.) Planning is a process of designing the Blueprint for the future because marketing planning is making decisions about what target markets to go after, what objectives to meet, and what programs will achieve those objectives. A good marketing plan is pragmatic, action oriented and specific. To support above statement, we need to explain marketing planning in the following ways: MEANING OF MARKETING PLANNING Marketing planning is deciding what marketing actions to undertake, ehy they are necessary, when and where they will be accomplished, who will be responsible for accomplishing them, and how they will be carried out. Marketing planning consists of an interrelated sequence of analytic and decision making activities. Marketing planning is the process of making a coordinated set of decisions that constitute a marketing strategy for one or more target markets. MARKETING PLANNING PROCESS 1. SITUATION ASSESSMENT: The first step in the marketing planning process is situation assessment. This includes evaluating opportunities and threats in the product-markets of interest to the firm and determining the firm’s strengths and weakness. 2. TARGET MARKET STRATEGY: Step 2 in the planning process provides important guidelines for setting objectives, for formulating marketing program positioning strategy...
Words: 2692 - Pages: 11
...categories that associated with managing quality and quality failures. The marketing research and other similar costs categories should all be included in the Cost of Quality (CoQ) analysis. 1.1 Identification of Cost Categories Based on Roberta’s current CoQ analysis, there are 18 cost categories with question marks that she either did not have data for or wasn’t sure about including. For the prevention costs, Roberta is having problem with the costs of marketing research, customer/user perception surveys/clinics, supplier quality planning, supplier quality planning, quality program planning and reporting, and other prevention costs. As mentioned earlier in the case, Roberta wasn’t sure how the marketing manager would feel about including marketing research as a category in the CoQ because it seems that marketing research as well as the customer perception surveys have no direct relation with preventing product defects. In fact, the fast development and introduction of new product is a key factor that differentiates Aqua Fun from their competitors in the same market. To ensure the quality of the new products before they are launched into the market, it is essential for the company to develop effective and well-designed production plan through market research and customer perception surveys. After developing the new product, the next stage would be picking the qualified supplier. Therefore the supplier quality planning should also be included in the CoQ analysis. For the quality management...
Words: 1699 - Pages: 7
...Basic Elements of a Marketing Plan 1. A detailed situation analysis 2. Specific marketing objectives 3. A marketing strategy and program 4. A program for implementing the strategy 5. A process for monitoring and evaluating performance Marketing Mix • The four Ps Product Price Place Promotion The Promotional Mix Advertising Direct Marketing Interactive/ Internet Marketing Sales Promotion Publicity/Public Relations Personal Selling Model of the IMC Planning Process Review of marketing plan Analysis of Promotional program situation Analysis of communications process Budget determination Develop integrated marketing communications program Advertising Sales promotion PR/ publicity Personal selling Direct marketing Develop objectives and strategy for each Develop message, media strategy, and tactics Integrate and implement marketing communications strategies Monitor, evaluate and control IMC Program Internet/ interactive Retail communication planning Retail objectives • The primary objective is to build store traffic. • Retailers also use advertising to: – attract new customers – build store loyalty – increase the average sale – maintain inventory balance – create a sense of urgency Copyright © 2012 Pearson Education 1 8 -5 Retail communication planning Retail targeting • The first concern is geography. – Where do my customers live? – How far will they drive to visit my store? • The next concern is consumer taste. – Offers, merchandise, and advertising messages...
Words: 985 - Pages: 4
...American Intercontinental University Unit 3 Individual Project MKTG 205 – Principles of Marketing Abstract When creating a marketing strategy the first thing to ascertain is the importance of distribution channels and how they work. The reader should have a better understanding of the distribution channel levels, channel organizations, as well as understand the best channel members to be utilized in each target market. Channel Distribution When assessing the different distribution channels it is very important to know that distribution channels are the ways in which companies sell their products and services. Knowing the target market and their demographic needs will help establishing a marketing strategy that is successful. Another important factor is to determine channel members and how many will be needed to successfully get products or services to their consumers. There are two different distribution levels in marketing; the direct distribution level and the indirect distribution level. According to Kerin, Hartley & Rudelius, (2013) the direct channel of marketing is when the producer and the ultimate consumers deal directly with each other. With a direct channel there is no intermediaries, the producer handles all channel functioning. A good example of a direct channel is an insurance company. The second distribution level is the indirect level. Unlike direct distribution the indirect distribution level has one or more intermediaries between the producers...
Words: 821 - Pages: 4
...1. ________ determines what the advertising message will say or communicate. A= Creative Strategy. 2. It’s used for how the message strategy will be executed? A= Creative Tactics. 3. Mention the 3 of the 5 steps of Young’s model of the creative process. A= Immersion, Digestion, Incubation, Illumination & Reality/Verification. 4. ________________ it’s process that involves conducting research and gathering all relevant information about a client’s product or service, brand, and consumer in the target audience. A= Account Planning. 5. Mention some techniques use in the verification and revision stage of the creative process. A= Focus groups, Message communication studies, Portfolio tests, and Evaluation measures. 6. What is a story board? A= A series of drawings use to present the visual plan of a commercial. 7. Specify the basic elements of the creative strategy: A= Copy platform. 8. A campaign theme should be? A= A strong idea that will be communicated in all the advertising and other promotional activities. 9. The concept of the unique selling proposition (USP) was developed by: A= Rosser Reeves. 10. What was the campaign theme for Nike? A= Just Do It. 11. Another approach to determining the major selling idea is finding? A= Internet drama. 12. What does positioning means? A= Establish the product or service in the consumer’s mind. 13. “I am what I am” pertains to what campaign? A= Reebok...
Words: 3173 - Pages: 13
...Student Name Unit Number and Title Y-601-1259 / Unit 19 / Marketing Planning Student No. Assessor name Date of Issue 16th February 2015 TOM FARNSWORTH Completion date Submitted on 27th March 2015 Assignment title Unit 19: Marketing Planning Learning outcome Assessment criteria In this assessment you will have the opportunity to present evidence that shows you are able to Task No. Evidence (Page no) 1 Be able to compile marketing audits 1.1 1.2 1.3 1.4 2 3 Understand the main barriers to marketing planning Be able to formulate a marketing plan for a product or service 2.1 2.2 3.1 3.2 3.3 Review changing perspectives in marketing planning Evaluate an organization’s capability for planning its future marketing activity Examine techniques for organizational auditing and for analysing external factors that affect marketing planning Carry out organizational auditing and analysis of external factors that affect marketing planning in a given situation Assess the main barriers to marketing planning Examine how organizations may overcome barriers to marketing planning Write a marketing plan for a product or a service Explain why marketing planning is essential in the strategic planning process for an organization Examine techniques for new product development 2 (b) 1 (b) 1 (a) 1 (e) 1 (c) 1 (d) 2 (e) 2 (a) 2 (c) 1 3.4 3.5 4 Understand ethical issues in marketing 4.1 4.2 4.3 Justify recommendations for pricing...
Words: 5273 - Pages: 22
...Unit 19 / Marketing Planning Student Name Student No. Assessor name TOM FARNSWORTH Date of Issue Completion date 16th February 2015 Assignment title Learning outcome 1 Be able to compile marketing audits 27th March 2015 Unit 19: Marketing Planning Assessment criteria In this assessment you will have the opportunity to present evidence that shows you are able to Task No. 1.1 Review changing perspectives in marketing planning Evaluate an organization’s capability for planning its future marketing activity Examine techniques for organizational auditing and for analysing external factors that affect marketing planning Carry out organizational auditing and analysis of external factors that affect marketing planning in a given situation Assess the main barriers to marketing planning Examine how organizations may overcome barriers to marketing planning Write a marketing plan for a product or a service Explain why marketing planning is essential in the strategic planning process for an organization Examine techniques for new product development 2 (b) 1.2 1.3 1.4 2 3 Understand the main barriers to marketing planning Be able to formulate a marketing plan for a product or service Submitted on 2.1 2.2 3.1 3.2 3.3 Evidence (Page no) 1 (b) 1 (a) 1 (e) 1 (c) 1 (d) 2 (e) 2 (a) 2 (c) 1 3.4 3.5 4 Understand ethical issues in marketing 4.1 ...
Words: 5273 - Pages: 22
...Marketing Plan for Vision Events Planning MM522 Marketing Management James Peacock May 30, 2010 Executive Summary Vision Events Planning (VEP) has the energy and know how to make events a one-of-a-kind occasion. VEP is a new company that will provide high quality event planning services to its clients, using nine years of experience. The company is located at PO Box 625, Rock Hill, North Carolina. VEP emphasizes excellent customer service for all of its events, regardless of size. The foundation of the company is Rachel Cook. Originally trained in management, Rachel brings along with her experience, knowledge and creativity to every event. Her plan is to inject new life into the event planning business, leveraging her skills to develop creative event design and decor options for her clientele. The business is a sole proprietorship, with Rachel Cook being the only employee. As growth warrants, additional event consultants and/or outside office location can be realized. Our keys to success: 1. We will service our clients' needs on time and efficiently. 2. We will maintain excellent working relationships with suppliers, 3. We will maintain a professional image in our industry and community. Mission Statement The mission of Vision Events Planning is to create lasting memories. To do this VEP will offer high quality event planning. VEP offers complete consulting services for private social events, corporate functions, non-profit events and weddings. We...
Words: 5636 - Pages: 23
...Running head: IMC IMC Agency Definition of an IMC agency: What is an IMC agency? Integrated Marketing Communication makes use of various methods for transferring information. All the ways are very well interconnected with each other. It helps to maintain a common essence in the message to be delivered. The core belief behind the interconnection of all the communicating methods is to magnify the impact of the message. Along with the increase in impact, it also helps in increasing the range of the target audience. All the techniques work better in consonance than when they perform alone. All those advertising agencies which blend all the promotional techniques together and make use for branding are termed as Integrated Marketing Agencies (Journal of Advertising research, 1997). These agencies provide creative marketing services which ensure that the marketing budget of the client is efficiently utilized. The IMC agencies provide services either in any specific marketing field or fully integrated strategic marketing service. The structure of these agencies depends on the range of skills and services which they provide to their clients. If the agency is large, the specialist employees are recruited and if the agency is small they employ generalists (Yeshin, 1998). Organizational structure of an IMC agency and their personnel IMC agencies coordinate all the marketing communication tools and sources available in the company into a flawless program which effectively utilizes...
Words: 3222 - Pages: 13
...BBA in Marketing Management Major in Marketing More than any other business discipline, Marketing deals with customers. Indeed, the heart of Marketing is building relationships with customers. Anyone involved with any facet of Marketing is concerned with providing customers with value and satisfaction. The concern is always with managing and improving the Current customer relationships and developing new relationships. This is accomplished by learning about and understanding customer needs and, in turn, developing products and services that respond to these needs while, at the same time, providing superior value. The Department of Marketing offers a wide variety of courses to meet the specific career orientations of students interested in any facet of the marketing process. The Department of Marketing has three distinct tracks: Marketing, International Marketing, Advertising and Marketing Communication. The requirements for the Marketing Track are as follows: Required courses: MKT 3400 International Business Principles MKT 3600 Marketing Research MKT 3605 Consumer Behavior MKT 5750 Marketing Strategy Four additional courses to be chosen from any offered by the department as follows*: MKT 3520 Advertising and Marketing Communications MKT 4120 Media Planning MKT 4130 Copywriting MKT 4151 Direct Marketing I: Strategies and Tactics MKT 4152 Direct Marketing II: Database Marketing; Managing Creative Process MKT 4410 International Trade Operations ...
Words: 1093 - Pages: 5
...Marketing communication plan Marketing Communications are "all strategies, tactics, and activities involved in getting the desired marketing messages to intended target markets, regardless of the media used" (MarcommWise, 2006). Tony Yeshin (1999) defines marketing communications as "the process by which a marketer develops and presents stimuli to a defined target audience with a purpose of eliciting a desired set of responses" (Yeshin, 1999). Marketing communications are: adverting, sales promotions, personal selling, PR and direct and interactive marketing (Fill, 1999). Consequently Marketing Communications Plan is the marketing plan which promotional plan incorporates two or more integrated marketing communications mediums aiming to reiterate the same goals and objectives. Marketing Communications Plans are considered by many professionals as an excellent way to effectively communicate with target audience. Marketing Communications Plans are generally based on two different frameworks: Marketing Communications Planning Framework and SOSTAC (Fill, 1999). Marketing Communications Plans consist of the following vital elements: Context analysis Promotional objectives Marketing communications strategy Promotional mix (methods and tools) Budget schedule Evaluation and control (Fill, 1999). When writing marketing communications plan it is important to: 1. Set corporate, marketing and marketing communications objectives, which would support and integrate with each other...
Words: 4978 - Pages: 20
...The Increasing Importance of Channel Strategy to Financial Performance Robert Henske VP, Charles River Associates September 24, 2003 August 2003 Elemica Global Conference Connect Once – Connect To All 1 Definition Channel Strategy: n. The selection of the preferred vehicles (channels and processes) to deliver defined products/services to specific customers to create the highest value for the enterprise. August 2003 Elemica Global Conference Connect Once – Connect To All 2 Objectives • Industry Context • Channel Management • Channel Strategy Development • Lessons Learned August 2003 Elemica Global Conference Connect Once – Connect To All 3 Chemical Industry Valuations: Three evolutions of relative performance 2.0 High Growth Expectations Structural Revaluation Post Oil-shock Cyclical Performance Within S&P 500 Basis Discount to S&P 500 1.5 P/E Index 1.0 0.5 0.0 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 Overall Commodity Specialty S&P 500 August 2003 Elemica Global Conference Connect Once – Connect To All 4 Source: Value Line®; S&P Analyst Handbook Chemical Industry Valuations: Three evolutions of relative performance 2.0 High Growth Expectations Structural Revaluation Post Oil-shock Cyclical Performance Within S&P 500 Basis Discount to S&P 500 1.5 P/E Index 1.0 0.5 0.0 1964 1966 1968 1970 1972 1974 1976...
Words: 1063 - Pages: 5
...Bachelor of Science in Business Administration Major in Human Resource and Operations Management, Marketing Management Submitted to: Prof. Christopher Malanum Submitted by: Acuna, Charzel R. Alcoran, Rachelle Anne K. Aquino, Patricia Mae Ann E. AUGUST 2015 Part 1: Channels of Distributions Channels of Distribution Few producers sell their goods directly to final users. Instead, most use intermediaries to bring their products to market. According to Philip Kotler, distribution channel is a set of interdependent organizations that help make a product or service available for use or consumptions by consumer or business user. Here are some definitions from different websites: Goods and services often pass to consumers through multiple channels. While increasing the number of ways in which a consumer can find a good has the potential to increase sales, it also creates a complex system that can make distribution management difficult. In addition, the longer the distribution channel the less profit a product manufacturer might get from the sale. (Distribution Channel Definition| Investopedia http://www.investopedia.com/terms/d/distribution-channel.asp#ixzz3jhyoJ8Pg) The path through which goods and services travel from the vendor to the consumer or payments for those products travel from the consumer to the vendor. A distribution channel can be as short as a direct transaction from the vendor to the consumer, or may include several interconnected intermediaries along...
Words: 4593 - Pages: 19
...strategy that connects to audience members on an emotional level and that isolates a need the product fulfills, creative that delivers the strategy, and strong, arresting executions. Six components comprise the classic definition of advertising. Advertising is a paid nonpersonal communication from an identified sponsor using mass media to persuade or influence an audience. Advertising can be classified into one of nine types. National consumer or brand advertising focuses on building long-term brand identity, and retail/local advertising strives to move merchandise in a restricted area. Political advertising encourages support of a candidate or idea while directory advertising helps consumers locate outlets for specific purchases. Direct response allows consumers to skip the middleman and purchase products directly from distributors by mail, phone or online. Business-to-business ads are directed...
Words: 28864 - Pages: 116
...Assessment: MKC1 Market Environmental Variables Reading: Contemporary Marketing: Chapter 3 Questions: 1. How would you categorize Generation X using the five segments of the marketing environment? A: Competitive Environment B: Political-legal environment C: Economic environment D: Technological environment E: Social-cultural environment 2. Joe and Ryan both have storefronts in the local mall. Joe sells candies and Ryan sells pretzels. Are Joe and Ryan in direct competition with each other? A: Yes B: No Consumer Behavior and Marketing Reading: Contemporary Marketing: Chapter 5 Questions: 1. Rachel and Sarah’s parents always purchased groceries from the local Aldi marketplace. What is this type of behavior an example of? A: Cultural influences B: Social Influences C: Personal factors 2. Maryanne purchases Maxwell House coffee every two weeks from the grocery. What is this type of behavior an example of? A: Routinized Problem Solving B: Limited problem solving C: Extended problem solving 3. Aaron does research on several local colleges before applying to his first three choices. This is an example of: A: High – involvement purchase decision B: Low – involvement purchase decision Marketing Plans Reading: Contemporary Marketing: Chapter 2 + Ch. 2 Appendix Web sites: http://www.jpec.org/handouts/jpec33.pdf http://www.netmba.com/marketing/process/ Questions: 1. Strategies are designed to meet objectives...
Words: 8933 - Pages: 36
