M ARKETING S TRATEGIES D EVELOPING AND I MPLEMENTING M ARKETING P LANS BUSS3.10 Developing and Implementing Marketing Plans.

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M ARKETING S TRATEGIES D EVELOPING AND I MPLEMENTING M ARKETING P LANS BUSS3.10 Developing and Implementing Marketing Plans

D EVELOPING AND I MPLEMENTING M ARKETING P LANS I N THIS TOPIC YOU WILL LEARN ABOUT : Components of marketing plans Assessing internal and external influences on marketing plans Issues in implementing marketing plans BUSS3.10 Developing and Implementing Marketing Plans

A MARKETING PLAN The marketing plan A written document that outlines the marketing activities to be implemented to achieve the marketing objectives Informed by market analysis Focussed on marketing strategy Resourced (constrained) by marketing budget BUSS3.10 Developing and Implementing Marketing Plans

C OMPONENTS OF MARKETING PLANS Objectives Marketing objectives contributing towards the corporate objectives Budgets The money available to fund marketing activities in a given time period Sales forecast Based upon market analysis Marketing strategies The overall direction of the business’ marketing actions Marketing tactics An integrated marketing mix BUSS3.10 Developing and Implementing Marketing Plans

I NTERNAL AND EXTERNAL INFLUENCES ON MARKETING PLANS Finance available Marketing budget Operational Issues Ability to meet demand Achievement of cost minimisation Success of R&D BUSS3.10 Developing and Implementing Marketing Plans

I NTERNAL AND EXTERNAL INFLUENCES ON MARKETING PLANS Competitors’ actions Is the business being proactive or reactive? How will competitors’ respond? Market conditions Growth or saturated Economic stability Elasticity Technological advances International opportunities BUSS3.10 Developing and Implementing Marketing Plans

I SSUES IN IMPLEMENTING MARKETING PLANS Personnel Skills and expertise Commitment towards the objectives Finance Budget Overspending (adverse variance) Unrealistic forecasting Operational Meeting deadlines Matching supply to demand Conflict Across functional areas Within marketing Control A plan like any document must have flexibility Time frame Coordination of all activities BUSS3.10 Developing and Implementing Marketing Plans

A CTIVITY This is the final unit on marketing and a good opportunity to revise the process of developing a marketing plan. Draw the diagram below onto a sheet of A3 paper. Turn each heading into a mind map using key terminology, adding definitions and possible lines of analysis. BUSS3.10 Developing and Implementing Marketing Plans Corporate objectives Marketing objectives Market Analysis Marketing strategy Marketing Plan

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