Marketing Planning Contents Contents 2 Review of Changing Perspectives in Marketing Planning (LO 1.1) 3 An evaluation of Nokia’s capability for future marketing planning (LO 1.2) 3 Details of techniques for organisational auditing and analysis of external factors that may affect marketing planning (LO 1.3) 4 Techniques for Organisational Auditing 4 Analysis of External Factors Affecting Marketing Planning 5 A detailed organisational audit of Nokia post merger with Microsoft (LO 1.4) 5 An assessment of the main barriers to Nokia’s marketing planning (LO 2.1) 6 Recommendations and suggestions as to how Nokia can overcome these barriers (LO 2.2) 7 References 8 Review of Changing Perspectives…
The marketing planning is thus required to first inspect the mission and vision objectives in the light of data obtained from changing external scenario through conducting marketing surveys. Use of information technology is also considered as an effective tool to gain potential data about changes in consumer preference patterns. With such data in hand analysis should be made pertaining to the internal strengths and weaknesses of the concern to help counter the external changes. Further the marketing plans for a company are required to encompass several strategic models to analyse the potential of the company in gaining on in changing market opportunities. Similarly the product, pricing, distribution and communication strategies need also be developed to effectively penetrate the consumer sphere. Finally owing to the changes being brought in the strategic marketing sphere the company needs to design an effective budget to help meet the needed changes. The business corporation is also required to render effective controls over the activities and modifications brought about in the managerial implications to render effectiveness in meeting changed objectives (Neves, 2003, p.9-10). An evaluation of Nokia’s capability for future marketing planning (LO 1.2) Nokia to compete in the international gaming market and thereby to counter competitive threat from companies like Sony and Nintendo came out with a product development venture. The product developed was named as N-Gage which penetrated the consumer gaming market through working on high quality gaming software. However the initial product was launched in the market by the company without conduct a pre-test of consumer and market ideologies. N-Gage in the initial stage gained a rapid market acceptance for having highly innovative features that at that time exceeded expectations of the consumers. However of late Nokia started facing criticisms from the consumer sphere in that they wanted a more customised gaming product that wound render larger number of gaming variants at highly affordable prices. Again, the N-Gage failed to satisfy the communication features of a phone for it required to be held in a lateral position to the face while talking which made the whole process quite cumbersome. Nokia honoured the criticisms from the consumers and thereby focused on designing and modifying the N-Gage into N-Gage QD. This product launched reflected a better battery life with a wide and bright screen. It also reflected better controls over the game by the consumer. However the initial failure of Nokia to gauge the needs and desires of the consumers led the other competitors to design and modify their own products and this led in enhancing the competitiveness of Nokia in the gaming market (Parasuraman, Grewal and Krishnan, 2009, p.6). Details of techniques for organisational auditing and analysis of external factors that may affect marketing planning (LO 1.3) Techniques for Organisational Auditing Organisational auditing is conducted by an auditor through some specific techniques or ...
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“Marketing Planning Essay Example | Topics and Well Written Essays - 1500 Words - 1”, n.d. https://studentshare.net/other/10669-marketing-planning.
Beamish and Ashford (2007) suggest that should a company be serious about acting responsibly at ethical and social level, then it is highly imperative that there may be the marketing mix adoption. Some examples of ethical marketing include that product should meet safety standards and dangerous products should be removed (Beamish and Ashford, 2007 p.20).
Low Support from Top It has been widely known that the strategy of any plan is designed with the support from the top management. The lack support from the chief executive officer, managing director as well as board of directors can essentially become a barrier to the implementation of the marketing planning process (Meldrum & McDonald, 2007, p.
Although I had all crucial information about the company to develop marketing tactics, marketing budget and creating implementation and control guidelines yet I went through all the research work done earlier so that crucial inputs could be further taken and included while writing content on marketing tactics.
Marketing audit undergoes three main processes. These are as follows: a) Setting the scope and objective – first, an auditor in collaboration with the company’s officers has to assess the nature of marketing operations and determine the value of the marketing audit.
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Therefore, this bank is highly influential and occupies an important position in international financial decision making process. At present, the bank serves approximately 58 million customers through its operations in more than 81 countries in all the continents.
The marketing planning process usually results into marketing strategies which are then used to increase the overall sales of the business. A marketing plan encompasses market specific, product specific and company-wide plans and highlights objectives of these respective areas and simultaneously mentions the plan about how to fulfil and achieve these objectives within a given time frame.
A sound marketing plan is a key component of the success of one’s business that includes market research, location, the customer group to be targeted, competition, positioning, the product or service to be sold, pricing,
Creative and constructive suggestions on how a company can overcome these barriers have been suggested. The third part of the report explains creatively and in detail the need for companies to be innovative in
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