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Marketing Planning - Essay Example
Reflective Journal By completing the marketing plan that I have developed for Tesco, I have learnt various things and developed insights into marketing. The study has enabled me to understand how marketing plans are developed and equipped me with knowledge on how to analyze both internal and external environment as a basis for development of relevant marketing objectives and adoption of appropriate marketing strategies…
By analyzing the five forces, I have come to understand how they influence a company’s competitive advantage and why they are important in marketing plan. The study also has developed marketing objectives and developed strategies to attain the objectives. Analysis of the company’s marketing mix has also been done analyzing the four marketing variables as product, place, price and promotion. This has equipped me with knowledge on product related decisions, pricing decisions and has enabled to learn different distributive decisions as well as promotional decisions. I have been able to learn and apply the various marketing concepts that we had covered in class and improve my critical thinking and analytical skills. I therefore consider the marketing plan as one big asset in the marketing course and an opportunity to apply the concepts learn in class.