Review the changing perception in marketing planning Essay
Review the changing perception in marketing planning
Marketing is what you say and how you say it when you want to explain how awesome your product is and why people should buy it. Marketing is an ad Marketing is a brochure. Marketing is a press release. And more recently, Marketing is a Face book page or a Twitter account. Marketing, too many business people, is simply selling at a larger scale. The reality is that marketing sits at the intersection of the business and the customer – the great arbiter of the self interests of the business and the needs of the buyer. As the global economy settles into a new normal of consistent doubt, Marketing has an identity problem, a brand perception gap, maybe even a crisis of confidence. Marketing can seem like a science, but it also requires creativity and instinct. When you create a marketing plan, you can benefit from looking at your marketing resources, goals and methods from several different angles. Varied perspectives can help you consider possibilities and pitfalls that may thwart your marketing or help it succeed. How you blend the varied viewpoints can make your marketing stand out in the crowd and be well-suited to your products and services.
The Four P’s
Traditional marketing planning focuses on product, pricing, place and promotion. Planning that uses the four P’s starts with product considerations such as features, benefits, packaging and brand name that will make a product viable. Pricing issues must be decided with competition and profit in mind to properly position the item in the price-point hierarchy of similar products. Then the marketing plan must give details that will put the product in the right place, literally, for people to buy it. Only then can the plan deal with the types of promotions that will get the product attention in the marketplace.
An example of the four P’s approach would be a company that creates a superior vacuum cleaner with a sleek design. Then the company prices that vacuum cleaner for the upscale market. The company finds luxury stores that will carry the vacuums, and then creates an ad campaign that is elegant and sophisticated for leisure magazines that appeal to affluent people. Assess Main barriers in marketing planning?
However there are some barriers in marketing planning;
A strong marketing strategy and planning is essential and vital component for any organization. However, sometimes, there are certain barriers of marketing planning. For example, Lack of motivation of change: If stakeholders are demotivated and do not feel the need to overcome the threats or grab the emerging opportunities, it would be a main barriers to a good marketing plan.
Overconfident with problems solution: Overconfident would cause a flawed or inappropriate solution for the problems. Failure of co-operation between management: Human resources and financial department are not willing to share resources and goals, manifestly the marketing effort will be impaired. Lack of knowledge and skills: Without proper knowledge and skills may lead to unrealistic plan and ideas.
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How organization can overcome barriers?
There are ten rules that can help to overcome the barriers of the marketing planning, which contains:
Strategy before tactics
Situate marketing within operations
Shared values about marketing
Structure around marketing
Scan the environment thoroughly
Summarize information on SWOT analysis
Skills and knowledge
Systematize the process
Style and culture
http://www.ukessays.com/essays/marketing/review-changing-perspectives-in-marketing-planning-marketing-essay.php Why marketing planning is essential in strategic planning process? Marketing plan provide information that enables stakeholders to measure the progress and highlighted the most appropriate marketing strategies. An effective marketing plan helps to increase product sales and enhance company profit margins. There are several advantages of market plan, it contains: Focus on your target market
Identifies consumers’ needs and wants
Determines product demand
Identifies potential customers
Identifies competitor and analyze competitive advantage. Measurement for generating the daily cash operational activities and how to make profit. Manifestly, a good marketing plan will also benefit an organization with the analysis of how to achieve the company objectives and capability to create a new opportunities for organization. Therefore, it is essential in the strategic planning process for an organization.
How ethical issues influence marketing planning?
Ethical problems in marketing stem from conflicts and disagreements. Each party in a marketing transaction brings a set of expectations regarding how the business relationship will exist and how transactions should be conducted. Each facet of marketing has ethical danger points as discussed below.
Some ethical problems in market research are the invasion of privacy and stereotyping. The latter occurs because any analysis of real populations needs to make approximations and place individuals into groups. However, if conducted irresponsibly, stereotyping can lead to a variety of ethically undesirable results.
Ethics in Advertising and Promotion
In the 1940s and 1950s, tobacco used to be advertised as promoting health. Today an advertiser who fails to tell the truth offends against morality in addition to the law. However the law permits puffery (a legal term). The difference between mere puffery and fraud is a slippery slope. Sexual innuendo is a mainstay of advertising content, and yet is also regarded as a form of sexual harassment. Violence is an issue especially for children’s advertising and advertising likely to be seen by children. The advertising of certain products may strongly offend some people while being of interest to others.
Examples include: feminine hygiene products as well as hemorrhoid and constipation medication. The advertising of condoms has become acceptable in the interests of AIDS-prevention, but are nevertheless seen by some as promoting promiscuity. Through negative advertising techniques, the advertiser highlights the disadvantages of competitor products rather than the advantages of their own. These methods are especially used in politics.
In these ways ethics can impact on marketing planning for organizations its vary from country to country.
Analyze how these ethical issues can overcome?
Adler and Bird suggested few strategies to enhance ethical behavior and avoid unethical behavior in organizations. They suggested that, firstly, top managerial should encourage ethical consciousness to their subordinates by providing support and care upon ethical practices. Secondly, it is recommended that top managerial level should focus on the institutionalization of ethical norms and practices that are incorporated into all organizational levels.
Besides, organizations should provide an ethical training to strengthen and gain their employees’ personal ethical framework to ensure that it practice employees’ self-discipline and capable to make an ethical decisions in a difficult circumstances. Meanwhile, organizations should be avoiding these unethical issues happen in their institution: Product: Misleading product information, lack quality control and deliberately produce poor quality product, unfit product description. Price: Expensive price with a poor quality product
Place: Different product price in different location
Distribution: Control the product supply and increase the product selling price when out of stock.