Marketing Planning Essay

5265 words - 21 pages

1. IntroductionBusinesses that succeed do so by creating and keeping customers. They do this by providing better value for the customer than the competition. Marketing management constantly have to assess which customers they are trying to reach and how they can design products and services that provide better value ("competitive advantage").The main problem with this process is that the "environment" in which businesses operate is constantly changing. So a business must adapt to reflect changes in the environment and make decisions about how to change the marketing mix in order to succeed. This process of adapting and decision-making is known as marketing planning.The objective of a strategic plan is to set the direction of a business and create its shape so that the products and services it provides meet the overall business objectives. Marketing has a key role to play in strategic planning, because it is the job of marketing management to understand and manage the links between the business and the "environment".In our survey we tried to find out the link between different stages of developing a long term marketing plan. For our studies we have selected Sri Lanka Telecom Ltd. Detail analysis of the company and the telecommunication industry situations are given under respective tasks.Sri Lanka Telecom (SLT) is the market leader in providing telecommunications services and it is the country's first Fixed Line Operator. With the acquisition of Mobitel in its entirety in October 2002, SLT became the country's only fully integrated telecommunications service provider to offer Voice, Data and Mobile Services.Its principal activities include local and international telecommunications services, higher value Broadband and Internet products and services, and communication and IT solutions. In Sri Lanka, SLT serves over more than one million corporate and residential customers, as well as providing network solutions to other licensed operators. SLT vision is "to lead Sri Lanka to become the hub of telecommunications in South Asia" and SLT mission is "to anticipate and fulfill the communications requirements of all sectors of the nation, in a service oriented work ethic which will provide total customer satisfaction through the most modern telecommunications facilities"2. Literature ReviewA Marketing Plan is a written document that details the actions necessary to achieve a specified marketing objective(s). It can be for a product or service, a brand, or a product line. It can cover one year (referred to as an annual marketing plan), or cover up to 5 years. A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.A Strategic marketing plan is an outline of the methods and resources required to achieve organizational goals within a specific target market(s)....

Find Another Essay On Marketing planning

Kraft foods case study: Marketing plan to address fears of rising child obeisity using Chris Fill's 1999 Marketing Communications Planning Framework.

3425 words - 14 pages Planning Framework (2002).The intention of the plan is to use integrated marketing techniques to effectively communicate these 'caring and compassionate' values with various targets, focussing on the children's snack food industry.Context analysisBusiness contextKraft Foods Inc are the second largest food company in the world (1), Kraft foods own brand names which are in the core categories of coffee, cheese, confectionery, desserts and grocery

hsgygyers Essay

647 words - 3 pages or general decline in any online business. if you are going to invest in web marketing solutions while you are planning business development and strategies, then you will be to reduce any risks in terms of financial loss and negative evolution. Therefore, web marketing will help people to improve their business while they save a lot of money.

marketing strategies

579 words - 2 pages planning tool that:describes your business and its products and servicesexplains the position and role of your products and services in the marketprofiles your customers and your competitionidentifies the marketing tactics you will useallows you to build a marketing plan and measure its effectiveness.A marketing strategy sets the overall direction and goals for your marketing, and is therefore different from a marketing plan, which outlines the

Developing a Strategic Plan

1894 words - 8 pages organization’s goal and capabilities and its changing marketing opportunities. It involves defining a clear company mission, setting supporting objectives, designing a sound business portfolio, and coordinating functional strategies. Strategic planning sets the stage for the rest of the planning in the firm. Companies usually prepare annual plans, long range plans, and strategic plans. The strategic plan involves adapting the firm to take advantage

Strategic Marketing Process

1085 words - 4 pages Strategic Marketing Process The purpose of this paper is to briefly explore the strategic marketing process, specifically the key phases of planning, implementation, and control. In addition, the application of mixed marketing to create a market segments as well as customer loyalty is equally explored. Several relevant scholarly sources were identified to provide research and information about the strategic marketing process and its

The nature and role of markets and marketing. study notes.

1110 words - 4 pages The nature and role of markets and marketing. - marketing is the process of planning and executing the conception pricing, promotion and distribution of ideas, goods and services to create exchanges that saisfy individual(present and potential customers) and organisational objectives. The role of marketing in the firm and society-70% of all new products fail within the first year of being launched. - for a business to achiee its main objective

Strategic Marketing

595 words - 2 pages strategy to boost their turn over. The Marketing strategy of a company is process by which an organization tries to utilize its limited resources on the best possible options in order to increase sales and achieve a competitive advantage in for a longer period. The main aim of strategic marketing is to ensure customer satisfaction (UK govt businesslink marketing strategy guide, 2009). Strategic marketing is the combination of planning that combines the


2269 words - 9 pages marketing and that when undertaking the more defined tasks of market opportunity appraisal, market segmentation/target marketing, or marketing planning, they do indeed proceed through an analysis-strategy-programs process. So, is it here where there is common ground: in how marketing is defined and in the marketing process to be deployed? Is this how marketing should be explained: a common set of goals actioned through a process of marketing analysis

Peanut butter.

6836 words - 27 pages familiar terms distribution, trade, and commerce. Two of the men instrumental in initially stating this concept: Ralph Starr Butler and Arch W. Shaw. To Butler, marketing was a job of co-ordination, of planning the binding force in marketing, of management of the complicated relations among the various factors in trade that must be considered first by the distributor who wishes to build his campaign with care. Shaw's conception of marketing was


891 words - 4 pages success will be explained and supported by examples.Defining marketing is basically moving product from the producer to the consumer. The American Marketing Association suggests that marketing is "the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals" (American Marketing Association). Another definition, summarized by

Defining Marketing

1294 words - 5 pages ". Ultimately, marketing is needed to attain and convince potential customers to do business with the respective company. This can be done through creativity, planning, strategies and development. defines marketing as "the activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the

Similar Essays

Allstar: Marketing Planning And Implementation Essay

3158 words - 13 pages earnings begin their ascent once again. The launch of Allround+ marked the first attempt at leveraging the well-known Allround brand name with a specialized cough suppressing product. Likewise, Allright complemented the line by bringing a potent allergy medication to market.In total, the simulation provided the team a viable means of planning and implementing a marketing strategy at a brand management level. Being able to adapt to and overcome adversity

Marketing Planning. Essay

2907 words - 12 pages the revolutionary Surf washing powder in 1959. By introducing a washing powder, they encouraged people to move from the club to the bucket. Part of their marketing strategy involved demonstrations of how clothes are washed in buckets with a washing powder. Surf was an immediate success and occupied the top slot in the national detergent market. While the concept of a detergent was every Indian housewife's solution to gruelling hours of washing

Integrated Marketing Communication Planning For Communication Plan For Video Mobile Phone

5675 words - 23 pages of budgeting methods that Optus intends to employ is objective and task-budgeting. This method commences with zero-based planning which determines the marketing communication objectives and the tasks that need be done to accomplish each objective. The scheduling strategy that Optus' should use is the flighting. In a bid to successfully measure and evaluate the marketing communication plan, the event that Optus intends to host will be used to

Business Planning Paper, Create A Business And Outline The Background, Operations Plan, Marketing Plan And Financial Plan

5139 words - 21 pages Untitled FINDERZKEEPERZ INC. GM 600 Section D Business Planning Seminar Prepared By Team C Kerry Capeheart Merideth Hadala James Holliday Tywane Jones TABLE OF CONTENTS Executive Summary 4 The Company 4 The Company's Mission 4 Products or Services 4 Target Market 4 Marketing Strategy 4 The Competition 4