Market Process Overview:Are we currently using Marketing?
The Marketing Planning
Process
■ Marketing planning is a structured way
of matching what an organisation has
to offer and what the market needs.
Analysis
(Where are we now?)
Objectives
(where are we going?)
Evaluation
(Are we getting there?)
Methods
(How will we get
there?)
Market Process Overview
■ Marketing Audit
■ This is a review or appraisal of marketing
operations in an organisation. It is
concerned with establishing environmental
factors facing the organisation, which have
marketing implications now and in the future.
■ Are we currently using Marketing?
SWOT Analysis
(Strengths, Weaknesses, Opportunities and Threats)
■ A SWOT analysis is a good way of
summarising the internal and external
marketing audit.
■ Strengths Internal
■ Weaknesses Audit
■ Opportunities External
■ Threats Audit
Setting Objectives
■ After the analysis has been carried out, the
next step is to establish some objectives.
■ Objectives can be defined as where we are
going?
■ Simply they are results wanted from planned
Marketing activities.
■ Objectives can include; increase market
share, increase product range, be
technological leader etc.
Constraints
■ Financial
■ Legal
■ Community or other pressure
■ Planning
Options to overcome
constraints
■ Convert to PLC
■ Lobby MPs
■ Get involved in local community e.g.
sponsorship
■ Relocate
Target Markets
■ Identify the group of buyers you wish
to purchase your product/service.
■ Actual or potential customers.
Marketing Mix
■ Product
■ Price
■ Place
■ Promotion
■ Utilize the four Ps to attract customers
to buy your product/service rather than
anyone else’s.