4.2 Marketing Planning - notes
In the previous section we looked at the role, definition and nature of marketing. We now move on to look marketing planning with particular emphasis on the marketing mix, marketing objectives, positioning and market research.
By the end of this section you should be able to:
- Apply the elements of the marketing mix to given situations
- Discuss the effectiveness of a selected marketing mix in achieving marketing objectives
- Construct an appropriate marketing mix for a particular product or firm
- Discuss the ethical issues of what is marketed and how it is marketed: nationally, internationally and across cultures
- Explain the values of a marketing audit as a business tool
- Examine how appropriate the marketing objectives are in achieving the goals of an organisation
- Analyse the role of market research
- Evaluate different methods of market research
- Analyse the usefulness of market segmentation and consumer profiles
- Identify possible target markets
- Apply an appropriate marketing mix to the target market(s)
- Construct a position map from given information
- Discuss how organisations can differentiate themselves and their products from competitors
- Design or evaluate marketing strategies for given situations. Apply an appropriate marketing mix to the strategy
- Discuss the effectiveness of a selected marketing mix in achieving strategic objectives
- Apply Porter's five forces model to classify and analyse competitive pressures in the marketplace
- Evaluate different methods of sampling, for example, quota, random, stratified, cluster and snowballing
- Develop and evaluate strategies designed to change customer perceptions