P4.

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Presentation transcript:

P4

Marketing Planning PESTLE SWOT SMART objectives Determining strategy Implementing strategy Evaluating strategy.

PESTLE A business needs to carry out a PESTLE analysis as part of the marketing planning process. This will help it to understand the external environment. Political Environmental Social Technological Legal Economical

SWOT A SWOT can be used to investigate the marketing environment Strengths Weaknesses Opportunities Threats

SMART objectives All businesses set objectives, these can be informed through the market research carried out by a business Specific Measurable Achievable Realistic Timed

Determination of strategy and tactics- implementation Marketing strategy includes selecting and analysing the target market and creating and maintaining a marketing mix that satisfies the target market and the business. A marketing strategy articulates a plan for the best use of the organisations resources and tactics to meet its objectives. A marketing plan includes; Executive summary Situation analysis – SWOT Company resources Marketing objectives Marketing strategies

P4 Using the companies website use the information to; explain what a PESTLE is and how it can be used, explain what a SWOT is and how it can be used explain what a SMART objectives are and how they can be used Set SMART objectives for your businesses marketing. Explain the measures your business can take to evaluate their marketing plan.