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Introduction: Using the Marketing Planning Framework Free essay! Download now

Home > A Level > Business studies > Introduction: Using the Marketing Planning Framework

Introduction: Using the Marketing Planning Framework

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Introduction: Using the Marketing Planning Framework essay previewIntroduction: Using the Marketing Planning Framework essay previewIntroduction: Using the Marketing Planning Framework essay preview

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Introduction: Using the Marketing Planning Framework

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Macroenvironment



The macroenvironment consists of broad environmental issues that impinge on the business. You may wish to analyse it using the following headings:



Economic

Socio-Cultural

Technological

Political/Legal

Ecological



Not every heading may be used; if it is not likely to impact the company, leave it out. For every event, state its likely impact on the company and the resulting implications.





The Market



The market consists of:



analyses of market size, growth rates and trends;



customer analysis including who they are, what choice criteria they use, how they rate competitive offerings and how the market is segmented;



distribution analysis, which covers significant movements in powerbases, channel attractiveness analyses, physical distribution analyses and analysis of the role and interests of decision-makers and influences with distributor organizations.









Competition



Competitor analysis examines:



Who are the competitors to the company (actual and potential)?

What are there objectives and strategies, strengths and weaknesses, market shares, size and profitability?



Finally, any entry barriers that make market entry from new competitors difficult should be identified.





5. Internal Marketing Audit



The internal marketing audit focuses on the activities and performance of the company in the light of the external marketing environment:



It should cover an evaluation of the following four sections:



Operating Results

Strategic Issues Analysis

Marketing Mix Effectiveness

Marketing structure and systems



Note that the information may not be available on all of the issues listed under each topic.





Operating Results



This covers operating results (by product, customer, and geographic region) for sales, market share, profit margins and costs.



Strategic Issues Analysis



Strategic issues analysis will answer the following questions:



What are our current marketing objectives?

How do we currently segment the market?

What is our competitive advantage (if any)?

What are our core competencies?

How are our products positioned in the marketplace?

How are products placed in terms of market attractiveness and company strength (portfolio analysis)?



Each answer will be evaluated to produce strengths and weaknesses.





Marketing Mix Effectiveness



Each element of the marketing mix (product, promotion, price and place) will be evaluated in the light of the external marketing environmental analysis.
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