The business-marketing planning process is identified as a systematic way of identifying, developing and implementing goals, objectives, tactics and strategic approach of an organisation (Fanning, 2018). This aspect of organisational business strategic planning is applicable to a wide range of activities and situations, some of them being developing a new product, repositioning of an existing organisation, expansion to new scope and opportunities and several other factors.
The following paper provides a detailed description of the business-marketing planning process of an organisation in the present environmental context. In this regard, the paper has taken into consideration discussing what marketing is from an organisational point of view as well as its associated concepts in great detail. Furthermore, the important concept associated with business-marketing planning process, marketing philosophy has also been taken into consideration along with the identification of primary objectives to be used by marketing practitioner in this regard (Fanning, 2018). It has also provided an elaborated discussion of marketing audit, the primary backbone of an organisational marketing initiative along with a variety of situational factors (COMP) as well a theoretical framework like CADDIE. A brief description of the identified marketing audit concepts has been provided along with its relative importance in an organisational context. The marketing plan thereby discussed in the following section has also determined ways by which the effectiveness of marketing audit factors is likely to be measured in accordance to the present business environmental situation. Such a marketing audit would facilitate the practitioners to analyse the important marketing concepts, the association of such impacts for procuring important information and the processing of the techniques to obtain the objectives.
According to Fanning (2018), Marketing can be defined as an activity undertaken as well as redirected towards human beings for the purpose of satisfying the widespread needs, demands and wants. It primarily involves exchange between the two or more parties involved in the process. The human activity factor tends to highlight the very objective of an organisational marketing initiative comprising of communicating and promoting the customers in relation to any particular product or service (Fanning, 2018). The primary focus in this regard however ensures need, demand and want satisfaction of the target customers. As a result, it is quite evident that marketing seems to be day to day activity of an organisation in which the customers play a very crucial role. The development of effective business marketing plan seems to be of immense significance in accomplishing the strategic business goals.
The marketing concepts seems to be highly significant in relation to determining an effective business plan that has largely taken into consideration each of the aspects associated with the present needs and demands of customers (Fanning, 2018). As a result, it is essential for the organisations to determine which of the interests and requirements that it needs to take into consideration for its individual operational effectiveness, customers as well as present business environment.
The following section describes the three primary marketing concepts that modern organisations that largely take into consideration in relation to developing an effective plan:
Production Concept: One of the oldest concepts prevailing in the business operational environmental context, the production concepts take into consideration that consumers have a general tendency of preferring products that are cheap and widely available (Fanning, 2018). The organisations that operates in accordance to the production concept of marketing focusses on accomplishing high degree of efficiency in their production operational activities along with mass distribution. However, it ensures that the overall business activities ensure comparatively low costs in relation to the present operational context. The production concept seems to be of immense significance for organisations operating in the developing nations of the world. This is mainly due to the huge availability of abundant cheap labour, to be used for the purpose of dominating the marketplace. Furthermore, this particular marketing concept is also used by organisations in relation to the business market expansion initiatives (Fanning, 2018).
Selling Concept: The selling concept is primarily based on the aspect that business organisations and target consumers if left along will not result in causing much sales (Fanning, 2018). This makes organisations to take into consideration developing an effective marketing strategy so as to ensure high sales margin. As opined by Fanning (2018), organisations operating in accordance to the selling concept exhibits high degree of effectiveness in developing a widespread marketing communication strategy. The organisations primarily involved with selling of unsought goods are considered to be the blind followers of the selling marketing concept.
Marketing Concept: The marketing concept is considered responsible for shifting the focus from a product centres make and sell business strategy to the development of a customer centric operational philosophy (Fanning, 2018). Under the relative concept of marketing, organisations tend to develop products that strives forward to satisfy the needs, demands and wants of the customers. Furthermore, it also resulted in the emergence of a customer value creation business approach. It has been identified to the primary factor associated with organisations to enjoy a competitive advantage operational environment in relation to present players in the marketplace (Fanning, 2018).
The overall importance of each of the marketing concepts is that it tends to provide the organisations with the overall detailed dimension that needs to be developed for the purpose of accomplishing organisational marketing efforts. It tends to provide the right set of instructions that organisations must consider developing an effective marketing communication plan (Fanning, 2018). The overall effectiveness of the process can thereby be determined in relation to analysing the degree to which the organisation has impacted the marketing business planning aspect of an organisation along with high sales margin and profit earning capacity.
The marketing philosophy aspect of an organisations elaborates the roadmap to the successful implementation as well as accomplishment of the overall marketing, communication and promotional efforts. It describes the way an organisation looks forward to perceiving its future course of action relating to marketing. The marketing philosophy of the organisation thereby takes into consideration the marketplace, strategies, ideas, concepts and frameworks that comes in to being with time (Fanning, 2018). Furthermore, it defines the overall relationship existing in between the various attributes of an organisational marketing concept. The marketing philosophy of an organisation highlights the overall value and belief it presently holds for the purpose of successfully accomplishing its business objective. It tends to keep effective control on how the people operating within it tends to behave and operate. On the other hand, marketing philosophy of an organisation also highlights the operational value system of the organisation as well as the various processes that it employs for the purpose of accomplishing each of the objectives along with high degree of effectiveness (Fanning, 2018). Therefore, it is quite evident that marketing philosophy tends to ensure need, demand and want satisfaction of its customers along with other external stakeholders.
The overall application scope of marketing philosophy thereby tends to highlight the strategies that needs to be employed for the purpose of organisational business planning for marketing and communication. The overall concepts associated with production, selling and marketing thereby forms the foundation stone of a marketing philosophy. Furthermore, it takes into consideration a wide note of the various marketing theories and concepts before formulation of an effective operational strategy for an organisation (Fanning, 2018). One of the primary importance of marketing philosophy is that each and every organisation seems to have a completely different approach to its formulation in relation to their present operational situation, competitive forces and business operational efficiency (Fanning, 2018).
There are in total nine key objectives that a marketing practitioner must take into consideration for the purpose of developing an effective business plan associated with accomplishing the organisational business objectives (Fanning, 2018). The nine key objectives of marketing practitioners are as follows:
Financial Objectives: There are primarily three financial objectives that marketing practitioners are likely to consider. It takes into consideration developing and enhancing the value of a particular product in the minds of the target customers so as to experience high degree of desirability among customers to pay more (Fanning, 2018). The main objective behind this strategy is to maximise sales revenue through the process of developing a premium pricing strategy. Furthermore, the objective ensures that the sales earning capacity of the organisation receives a significant boost without making any form of additional monetary investment. It makes marketing practitioners successfully reduce the cost of operations as a percentage amount of sales margin.
Strategic Objectives: The strategic objective focusses on making practitioners understand the relative importance of emerging as a market leader though the process of innovation, creativity and high degree of uniqueness (Fanning, 2018). It makes the organisations largely look forward to the aspect of exhibiting rapid adaptability to the emerging operational trends and processes. The primary objective in this regard is to enjoy high degree of market leadership in relation to the product being taken into consideration followed by developing a relationship of trust and confidence customers through operational excellence.
Communication Objectives: The communication objective requires marketing practitioners to develop strategies that tends to successfully communicate the overall value system associated with the marketing process (Fanning, 2018). It takes into consideration developing an effective marketing philosophy largely in accordance with present market trends and demands.
The marketing audit of an organisation provides a detailed knowhow on the overall business planning process relating to a product of service. It primarily comprises of objectives, ideas, processes, concepts and frameworks that needs to be considered for successfully accomplishing the marketing plan thereby taken into consideration (Fanning, 2018). The following section highlights the primary considerations of developing a marketing audit, an analysis of the numerous situational factors and the overall business planning process:
Numerous factors affect consumers’ decision. Advertisements or other marketing schemes affect these decision making process of the consumers (Fanning, 2018). Marketing creates a mirage of winning situation for both the parties that is the buyer and the seller. There are numerous items that an individual has to consider prior to the launch of the marketing plan, thus arranging different factors into few dynamic heads is the best option. As per the concepts of Fanning (2018), managers need to consider the characteristic of the customers as well as the structure of the market in which they are performing. They also need to have an in-detail understanding of the product in order to conduct a successful marketing campaign. The knowledge about the product is very much necessary because without these the manager would not understand the positivity’s of the product which he need to illuminate in order to increase the sales. There are many other details that the marketing managers need to focus during the marketing campaign of the product. Marketing managers intentionally demonstrates the difference between their product and other similar products available in the market (Fanning, 2018). These actually convinces the customers about the non-existence of any substitute, thus the marketing managers need to study the rival products also in order to point out the difference between the products. These are some of the key consideration about the product that the managers take a close note.
The characteristics of the customers are also important in order to showcase the product which is acceptable to everybody in the community. Customers’ taste and preference are the two important considerations that the manager needs to understand before designing the marketing campaign of the product (Fanning, 2018). In order to understand this, manager needs to understand the culture and social structure of the community. This understanding provides vital information to the manager about the pressure points that the manager can utilize in order to approach to the customers and increase the sale of the product.
The market structure of the country, this understanding allows the manager to a solid knowledge about the market and how organization should enter the market in order to ensure their products’ sales (Fanning, 2018). The knowledge also points out the major rivals that the company will have to compete against in this market. This knowledge about competitors allows managers to design unique marketing schemes in order to attract more customers. Information about the market is obtained through various sources like the local news advertisements and even through personal research. Knowledge about the market structure is very much correlated with consumer behaviour, thus these information’s provides a concrete base for the managers to design unique marketing campaigns for the product (Fanning, 2018).
These are some of the most important aspects that managers look forward to getting information about the requirements of campaign designs. The managers measure the effectiveness of all these aspects on the market and then decides the aspect they will focus mostly while designing the marketing campaign for the product (Fanning, 2018).
The situational business environment of an organisation is largely elaborated by taking into consideration each of the factors associated with customer, organisation, market and product (Fanning, 2018). Each of the situational factors identified in this regard are of immense significance in contributing significantly to the process of developing an effective marketing planning process. The primary importance of the situational factors is that it tends to develop an effective balance in between the aspects of customer satisfaction within the present operational scope of the organisation, its skills, competencies, resources and capabilities.
Customer: It primarily comprises of identifying the segments of customers that an organisation needs to consider as well as the characteristics based on which an effective strategy is to be formulated.
The buying pattern of the customer tends to define the overall frequency of purchase exhibited in relation to a particular product or service (Fanning, 2018). It is of immense significance in predicting the demand and supply trends and thereby develop an effective marketing strategy during peak season. The overall effectiveness of the factor can be determined by simply calculating the total sales revenue earned presently with that of earned during the last peak demand time.
The social media habits of customers are of immense significance in depicting the present need and demand of the customers in relation to a product (Fanning, 2018). The social media usage propensity of customers seems to be highly significant in developing a direct communication and coordination with the customers and thereby gain more knowledge on their usage experience. The effectiveness of segmenting customers based on social media habits can be easily determined with the increase in number of followers and sharing of posts relating to organisational product (Fanning, 2018). The personal referrals sent by satisfied customers through the social media websites also determines the overall effectiveness of the process.
Organisation: The high degree of dynamism prevailing in the business environment results in organisations to continuously update and remodify their operational scope with the formulation of a new marketing philosophy (Fanning, 2018). It is basically done to ensure high degree of alignment with the overall purpose of the organisation amidst severe competitive forces.
The financial objective associated with experiencing high sales margin without resulting in increasing the overall production and manufacturing cost seems to be an integral aspect of organisational marketing efforts. The primary importance of this aspect lies in the fact that the organisation is likely to experience high sales and profit margin capacity. The effectiveness of the process seems to be analysed by taking into consideration the total sales margin successfully accomplished with that of overall cost employed for the purpose of producing the product or the service (Fanning, 2018).
The strategic objective associated with strengthening the business relationship with stakeholders focussed on enhancing the trust and loyalty of the customers (Fanning, 2018). It is of immense significance in understanding the thought process of the customers along with developing a good and cordial long-term relationship. The effectiveness of the process is largely identified determined through the emergence of a large fan follower base.
The communication objective looks forward to rapid adoption of changes in the present business environmental context, in relation to marketing planning activity of an organisation (Fanning, 2018). The primary importance associated with the aspect of communication objective is that it tends to make the business organisations keep themselves at par with the present advancements. The effectiveness of the process is largely measured through the organisation enjoying a relative competitive advantage situation in comparison to others operating in the present business environmental context.
Market: The market situational aspect of a marketing audit requires significant analysis of the business operational environment to identify the competitive forces as well as their influence (Fanning, 2018).
A competitor analysis needs to justify the overall business environmental scope in which the organisation is likely to develop an attractive planning process. The process requires analysing the past and present operational strategies of the competitor organisations as well as the extent to which it has accomplished success. The primary importance of competitor analysis process is to develop a strategy that has successfully addressed as well as overcome all the loopholes associated with competitor approach of business marketing planning process (Fanning, 2018). The effectiveness of the process can be largely identified by closely analysing the present market dynamics as well as position of the particular organisation in comparison to others. In this regard, some of the factors that needs to be taken into consideration comprises of overall competency level of the organisation, available resources, technological knowhow, skills and capabilities, distribution and marketing channel as well as obstacles faced.
Product: A large number of factors relating to the product needs to be considered for the purpose of developing an effective business plan. It varies considerably in relation to a product or service. Furthermore, a detailed information on the overall product scope seems to be highly significant in making each and every people involved in the process understand the product attributes and characteristics and develop products accordingly (Fanning, 2018).
The product information seems to be highly significant in developing a marketing plan that has focussed largely on the aspects of its sales percentage, inventory management, product line and strategy as well as the extent to which it is capable of position itself successfully in the marketplace (Fanning, 2018).
A marketing plan is a comprehensive blue print of an organization’s marketing efforts(Fanning, 2018). It provides an outline of the marketing strategies that have been used by an organization and it also represents the optimum use of marketing resources through the marketing strategies to achieve business objectives and marketing objectives as well. For ever changing environment and available tools of marketing the modern marketing plans are basically short or short-termed in nature (Fanning, 2018). A proper marketing plan includes,
A marketing plan consists of few fundamental steps.
A situational analysis is represented by the internal analysis of an organization. The most efficient tool for situational analysis is SWOT analysis (Fanning, 2018). SWOT represents Strength, Weaknesses, Opportunities and Threats that an organization may have or may face in the future.
This is the first thing is portraying a Demographic portrait. It represents that the marketing practitioner knows his customers from inside out, including their expectations and their impulses. This format should include basic demographic attributes like age, sex, profession, income etc.
Next step is to identify the level of demand in the market. This process should be done through market research (Fanning, 2018). A proper market demand analysis can help an organization to make budget for marketing.
In this step, it is very important to understand the motivational factor for the buyer in terms of making a purchase decision. This is the job of a marketing practitioner to identify the need of the customers that include the customer is willing to save or not, they want the product or service for their living or not etc.
Setting crystal clear marketing objectives is an essential part of a marketing plan. There are some most common marketing objectives, for example:
Determining a proper marketing strategy is very important under a marketing plan for a business. The marketing strategy includes 4P’s of marketing mix that includes: product, Price, Place and Promotion. A perfect combination of these four elements can provide effective results in the profit margins for an organization (Fanning, 2018).
The next step is to create a budget or financial plan for the marketing plan. The financial plan mainly includes the proportion of allocated resources in the four different segments of the Marketing Mix (Fanning, 2018).
Questionnaire:
By answering these questions will give detailed clue to the marketing practitioner and the financial planner about the expected budget (Fanning, 2018).
Apart from this a Break-even analysis is also important and helpful in the development of a marketing plan. This analysis shows exactly how much amount of products are need to be sold to cover up the accumulated cost for the product (Fanning, 2018). If an organization will be able to reach the break-even point and further if it will able to increase its sales, then the organization can earn so much profit.
When the marketing plan is a broad document, where each marketing action plans have represented some parameters (Fanning, 2018). Action plans are tactical strategic documents. It includes some attributes like, how the marketing objectives will be fulfilled, who are people involved for the implementation of the marketing plan, who are responsible for the evaluation, who are responsible for other corrective actions etc. (Fanning, 2018)
There are mostly two types of Marketing Action Plans:
The Business Marketing Planning Process is a step and composite process. This research paper shows that if all organizations implement a common framework, then business marketing planning process will be smoothening. CADDIE (Collect and Analysis, Design and Develop, Implement and Evaluate) can be the recommended framework for an efficient business-making plan (Fanning, 2018). It is very clear that the complexity of the business planning process varies with the complexity of these factors as per the situations (Fanning, 2018).
Most of the marketing practitioners focus on two types of contemporary to understand the concept of business-marketing plan. Those two types of contemporary ideas are Design Thinking and Blue Ocean Thinking respectively (Fanning, 2018).
This is the process which is used by most of the marketing practitioners very frequently. This theory is based on a fundamental philosophy that is, how an organization can satisfy its customers, how to satisfy the organization itself, how to engage the organization in the market and lastly what type of products can be designed for the market (Fanning, 2018). A marketing design is a path through which an organization will be able to reach its marketing objectives. The marketing philosophy and a marketing plan always nurture the marketing culture that facilitates the formation of best satisfying products and brands which in turn creates competitive advantages for the organization (Fanning, 2018). By aligning these two ideas and marketing concepts, marketing practioners will be better able to understand the consumers’ perception and journey in the decision making process of a product. Through this the practitioners will be able to understand and measure the success of the product, and the perimeter is the level of satisfaction of the customers (Fanning, 2018).
Blue Ocean Thinking is also all about the best satisfying products. However, Blue Ocean products are competing in unconcealed market; this refers a market that has never been explored or never being neglected. This clears the concept that all products are not able to compete as Blue Ocean products (Fanning, 2018). Blue ocean products are very much efficient in terms of earning higher p returns for the organization and these products are also able to stand alone in the market and create “Monopoly”. Blue-Ocean products represent an organization (Fanning, 2018). Though the discussion is all about the benefits of Blue-Ocean products, but it also need to consider that Blue Ocean products have to compete in Purple Ocean and Red Ocean markets (Fanning, 2018).
Design Thinking and Blue Ocean thinking are able to provide a smooth start to the new development of products and after this the next step comes, that is the “Planning” stage (Fanning, 2018).
The term “Communication” is divided into three different segments internal marketing, customer retention and external marketing (Fanning, 2018). For a smooth marketing process the marketing mx of a product’s value proposition should be not only communicated externally but also it should be communicated internally first. The second part is “customer retention” that refers the requirement of building long-term relationship with the customers, and extends the holding of customer (Fanning, 2018).
The next stage is “controlling” that refers how the marketing practitioners manages the pipelines of sales. Sales pipelines are the bridges or the ways of communications between the organizations and customers. The term “controlling can be divided into three parts: sales and sales force management, customer relationship management and last one is a interpersonal sales process (Fanning, 2018). The first part that is the customer relationship management is considered as a traditional marketing process by the amplified new technologies. The terms customer relationship management is combined with the strategic objectives of customer familiarity (Fanning, 2018). The objectives related to financial aspects that will help to increase sales it also helps to inject value in the business and lastly the communication objectives that can help to attract new customers (Fanning, 2018). Then the term comes, “sales and sales force management, which is a neglected are in the marketing prospect. This term reflects the marketing objectives regarding increasing the sales as a percentage of reducing the cost for the products (Fanning, 2018). The last part is “relational sales process”. This refers by considering the marketing know-how and represents the process of sales in a structure that will able to provide higher value to the customers. The objective of this part is to provide a view to the marketing practitioners about selling products on the basis of marketing concepts rather than selling the products on the basis of selling or production concepts (Fanning, 2018).
Conclusion
Marketing is a very important aspect that affects the sale of products. Good marketing campaigns increases the sale of a product likewise bad marketing campaign can result in a decrease in the sale of the product. Marketing is all about answering to the needs of the consumers, it creates a winning situation for both the parties the seller becomes happy as it has earned some profit from the transaction, while the buyer becomes satisfied as the new product adds some value to the life of the buyer. In developing a successful marketing campaign the managers had to make some important decisions and for these they require huge amount of theoretical as well as practical knowledge about the market in which they are performing. They have to take into much social, cultural and economic aspect in order to construct a good marketing plan. The managers need to plan their actions and accordingly create a budget for the carrying out the marketing campaign. The managers need to have design thinking in order to map the concurrent events that will promote the product. Designing of marketing campaigns are very important in order to appeal to the tastes and preferences of the consumers in the market.
References
Fanning. S., (2018). The Marketing Concept. Retrieved from https://www.themarketingconcept.com/
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download