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Marketing planning - Essay Example

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Marketing planning

In the recent past, the notion of marketing planning has changed from various perspectives (Hatton 12). Companies nowadays put in strong efforts to identify the problems of market and formulate a strategy only on that basis. In the similar way, the technique of promotion has undergone drastic changes. There have been evident changes in the strategies of selling as well. Considering the scenario of the market, aggressive and push selling are being are being actively pursued by the companies. P&G created an artificial demand in the market for their product Surf Excel, which clearly exemplifies an innovative marketing technique. Another evident change is the increased stress on the consumer needs and ‘go to market’ approach. In the meantime, future planning has been also considered important by the marketers. However, the ability of an organization to predict its future marketing activity depends upon the level of competence. In addition, their ability to adapt to a particular situation also acts as a decisive factor. This is because the future is uncertain and it is impossible to predict the situation of market 2-3 years down the line. The marketing planning of an organization helps in identifying the most appropriate direction a company should move, while operating in the market. Furthermore, a well defined marketing plan allows a firm to accurately define the tasks and responsibilities and also provide better insights to the market and economy. Hence, it is apparent that with a better marketing plan, a company will be able to save resources as well as time. Therefore it can be affirmed that marketing planning is essential in the strategic planning process of a firm (McDonald 1-10). This study aims to create a marketing plan for a product/company by analysing the market situation of the chosen firm. The company chosen in this aspect is Vodafone UK and the product for which the marketing plan will be developed is their telecommunication services. Therefore, a brief overview of the chosen company is presented below. Vodafone: A Brief Overview Vodafone Group plc, commonly known as Vodafone is a telecommunication company based in UK. The company offers telecommunication services and other related services to both end customers and business customers. The company initiated its business venture in the year 1991 in the city of Newbury, Berkshire, United Kingdom. However, at present the company is headquartered in London, UK. In terms of the overall revenue as well as the number of subscribers, the company is presently ranked in the second position. The company is only behind China Mobile, which is the largest telecommunication company of the world. The company presently operates in 30 countries of the world. In addition, it also carries out operation in 40 other countries with partner networks. The company employs around 86,400 people across the globe. One of the positive aspects of the company is that despite being a telecommunication firm, the company has a diversified product line. For example, Vodafone offers telecommunication services, internet services, DTH services and also sells different enterprise system solutions. Additionally, the ...Show more

Summary

Name of the of the Professor Course Number Date Marketing Planning: Vodafone Background Marketing Planning is dubbed as the process used by the marketers to analyse the market situation and develop strategies that fits with the environment. Eminent scholars such as Hatton (13) defined marketing planning as the method of assessing the existing marketplaces as well as new market places to determine how a business can optimally compete and strengthen their market position…
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