The Development of an Effective Marketing Plan and Its Management

Introduction Marketing management entails the utilization of ample business strategies that can lead to organizational success, performance, as well as productivity. This entails an integration of marketing mix strategies via appropriate business planning with an intention of enhancing business sustainability.Advertising We will write a custom essay sample on The Development of an Effective Marketing Plan and Its Management specifically for you for only $16.05 $11/page Learn More The facilitation of marketing management entails conducting a situation analysis by market researchers, aimed at identifying the key features of organizational internal and external environment. The key essence of a situation analysis is demonstrated in the development of an effective marketing plan. Consideration of both internal and external organizational variables offers a direction for effective construction of a situation analysis, which is an appropriate measurement for o rganizational level of development. Recent research addresses an essence of conducting organizational SWOT analysis, which helps in identification of organizational strengths and weaknesses in addition to opportunities and threats. A comprehensive SWOT Analysis is significant in the development of strategies that foster development. Therefore, individual elements expression of SWOT analysis by managers who spearhead marketing outlines is crucial in conduction of strategic marketing processes (Barron and Hollingshead, 2002). The discussion in this paper explores the issue of marketing management in relation to situation analysis and its essence in the development of a marketing plan. A guide to the steps involved construction of a situation analysis will also be presented. More over, it is crucial to investigate into the necessity of managers in organizational marketing department conducting SWOT analysis. Furthermore, an establishment of how marketing managers should express their p ersonal business elements will ultimately be established. Role played by situation analysis in the development of a marketing plan Marketing plan development is highly attributed to effectiveness in situation analysis conduction. The recent few decades have seen situation analysis gaining popularity among practitioners, researchers, as well as academicians, due to the identification of strategic roles, which it plays. The organizational external and environment is easily studied with the conduction of a situation analysis.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The identification of the organizational environment aids in providing a direction for strategic planning as well as identification of major challenges likely to invade a business. Research findings consider situation analysis to serve as a linkage of resources that an organization possesses to its competitive advantage in a volatile environment. A situation analysis aids n the identification of possible risks. This is a genuine step in the laying of appropriate mitigation of risk strategies as a risk management planning methodology. Strategic business positioning is highly attributed to the effectiveness in the conduction of situation analysis. It is crucial for a business to position itself at a strategic point to enhance their ability in overcoming common business challenges, for instance competition, crisis in the economy as well as internal threats (Pellettiere, 2006). Additionally, the management of organizational change is boosted when an effective situation analysis framework is drawn. Situation’s framework helps market researchers and organizational management in identifying areas that need change and develop a plan that can facilitate the implementation of change management strategies. It is in situation analysis that the strengths of an organization are realized, which the organizatio nal management utilizes to implement change management strategies for enhancement of competitive advantage. Identification of opportunities is ample in construction of weaknesses overcoming programs, while the realization of threats is constructive in setting management standards to a level of overcoming organizational threats (Pellettiere, 2006). Array of internal and external variables a marketing manager would need to consider when constructing a situation analysis A variety of internal and external variables need be considered by marketing managers in the process of constructing a situation analysis. The situation analysis entails an analysis of SWOT, organizations market structure, market forces that are in influence of an organization.Advertising We will write a custom essay sample on The Development of an Effective Marketing Plan and Its Management specifically for you for only $16.05 $11/page Learn More Variables are items within and outside an organization that influence the operations, and accumulate to become a sum total of an item of concern within the organization (Reed, 2003). The internal variables play a pivotal role in driving organizational success. However, many organizations have failed in their operation as a result of violating the most crucial of these. For instance, marketing managers need to consider communication models thriving within his organization. Secondly, leadership components must be carefully evaluated and analyzed in the construction of a situation analysis. The resources that an organization has are also a crucial component n the process of situation analysis construction. Other internal variables are organization’s capabilities for research and development, capabilities that human resource has to execute their duties in accordance to organizational requirements. More over, a consideration for competitive position of an organization is crucial in the process of constructing a situation analysis. Furthermore, it is crucial that responsiveness and coordination of operations management as well as the control of marketing strategies play an important part in the construction of situation analysis (Reed, 2003). The external variables include marketing managers need to diagnose and analyze macro-level factors like the economy and social-cultural factors in addition to , legal and political factors. It is also vital to consider competition review, an analysis of the customers, characteristics of the supply characteristics etc. An understanding of organizational distribution channels versus buyers also plays a vital role in the construction of the situation analysis (Reed, 2003). Guide for the construction of an effective situation analysis Every organization must have an effective situation analysis constructed in order to succeed in marketing management plans. The first step need be the realization of the significance and the scope of such a planning for effective marke ting strategies.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The products and the experience of an organization must be carefully considered in addition to provision of a clear definition of business. The market that is prevailing and its forces are also a component that needs be identified Reed, 2003). The second step entails the marketing managers need to evaluate and diagnose the internal organizational variables/ characteristics, which are important in the construction of a situation analysis, a process that aids in new strategies implementation within an organization. The internal characteristics are those that directly affect its operations. These include the models of leadership, management, organization, commitment, and participation that are emphasized within the organization. The internal environment of an organization is also dictated by non-marketing capabilities such as human resource functions, responsiveness, and activities coordination within an organization. Non-marketing capabilities are also marked by the financial position as well as the position for competition within the volatile environment. Marketing capabilities need be analyzed that include the company’s sustained and target customers, competitive environment (Reed, 2003). Thirdly, the marketing managers need to analyze the external environment, which entails an investigation into the macro-environment as social, political, and economic factors need be analyzed. The managers need to perform an environmental scanning technique with an aim of identifying channels, the scope of competition, organizational customers as well characteristics of supply. The identification of the external environment is crucial in development of marketing planning strategies as well as ultimate implementation for productivity enhancement (Reed, 2003). The evaluation of the internal and external organizational environment acts as a driver to the management conduction of situation analysis. This employs appropriate analysis tools and techniques that help realize o rganizational threats, opportunities, as well as weaknesses. The analysis acts as a rationale for strategy implementation towards a new business course. Self-identification paves way for change, which is always an inevitable component within business fields. This type of identification is ample in spearheading development plans as well as strategies (Reed, 2003). The ultimate step involves the realization of the key organizational competitors in relation to their operations, core business, as well as strategic operations. Today’s environment has become so volatile in terms of competition due to the emergence of organizations that rhyme in the production areas, producing similar products and brands. It is therefore ample foe an organization to focus on the identification of such components in business. It is crucial at this stage to select a number of competitors to analyze and come up with a rationale for competition eradication. The investigation into competitors need be bas ed on the marketing strategies that are commonly in utilization by major organizations as a prerequisite for creation of new business forms and performance strategies (Reed, 2003). Importance of SWOT analysis Identification of opportunities, threats, and weaknesses, as well as strengths is crucial since is a fundamental concept for marketing management. The SWOT analysis serves as a ground for self-classification and realization by the organization. This realization acts as a factor that dictates the organizational direction. Valuation of a company can be attained via conduction of a situation analysis. SWOT helps identify opportunities in the internal and external environment, which would act as avenues for organizational expansion. Business expansion in the local and international realms is facilitated by the opportunities that are available for development of new products as well as organizational structure (Albright, 2004). SWOT helps in the organizational alertness due to the r ampant threats that act as invaders of the business organization. This system helps identify future business loopholes that would easily lead to the collapse of a business. Swot analysis is a tool for the establishment of a strategic position, which is ample in dealing with threats that cannot be dealt with easily. Some threats are fatal to an organization, especially when change is not effectively managed by the stakeholders concerned. It is also essential to recognize that SWOT analysis sets a base for research conduction within an organization, where marketing managers are able to take a distinct direction in their operations. Strategic marketing is facilitated by the synthesis of those SWOT procedures that could be evaluated and described. It is with SWOT analysis that an organization develops a new direction in the marketing management and in the development of planning models (Novicevic, et al., 2004). Importance of SWOT analysis framework in the development of marketing strat egies Marketing strategies need be attributed to a comprehensive analysis in terms of external and internal environments via environmental scanning. The identification of the organizational strengths helps in measuring the capability that an organization has to help it deal with the upcoming challenges. Identification of strengths helps in setting new and suitable future objectives in the marketing realms. The strengths are also ample to help the company set targets for business within the internal and the external realms. Additionally, the identification of opportunities acts as a base for setting new Customer relationship strategies that are aimed at reaching more customers. Opportunity identification is an instrument that paves way for employee and management commitment to work towards the achievement of a larger target market (Raaij, 2005). Change implementation is also easy when an organization is able to identify the opportunities. More over, the threats that an organization e xpects to meet with are easily identified, a factor that makes it possible for identification of new distribution channels. Responsiveness and coordination of marketing development strategies is possible via newly developed channels. The weaknesses identification helps the management in the revision of the management frameworks, a factor that leads to strategic marketing techniques build up. The Swot analysis is an ample tool for an organization to identify new outsourcing strategies that would easily enhance the corporate governance. The corporate governance is important because of enhancing organizational competitive advantage, which leads to the development of marketing strategies (Freeman, 2005). Expression of individual elements by managers in their SWOT The development of ample marketing strategies calls for a coordination of the most important factors that drive organizational success. Marketing managers play a pivotal role in the development of marketing plans, therefore, th ey need to be very enthusiastic, be interested in the projects that are at hand, as well as be experienced in marketing strategies. The elements that are ample for managers to possess are determination, commitment, and excellent leadership. They should also be able to possess motivated attitudes for strategy implementation and their manipulation to get the expected results for development of strategic marketing plans. Self-driven attitudes are crucial in development of new tactics (Pellettiere, 2006). In the expression of individual elements by managers, the strengths, weaknesses, opportunities, and threats need be cautiously addressed. For instance, a big corporation like the coca cola company has strength due to possession a strong brand name. The marketing manager at Coca Cola Company need find out the extent to which the name has played a role in the company’s market expansion and find out the best ways in which the name can be utilized to develop a better market for thei r products. The brand name is ample in the establishment of appropriate Customer Relationship Management strategies in the internal and external markets (Pellettiere, 2006). Secondly, the marketing manager at the coca cola company needs address on the company opportunities that can foster the development of a marketing plan. For instance, they can sponsor the world cup or other activities in most countries, whose ultimate goal is to promote their corporate social responsibility as well as competitive advantage. The competitive advantage makes the company to market their brand name a well as their products over a wide market scope. On the other hand, competition as a threat to the company, hence they can address the best strategies that would easily overcome the threats, others that are not easy to deal with. The marketing managers need express their commitment in dealing with both internal and external threats. Finally, the managers are entrusted with evaluating and synthesizing mod els that are suitable in addressing the organizational weaknesses. On the realization that a company is in financial crisis, intelligence of the managers plays a pivotal role in addressing the need. It is important that they come up with marketing plans that are cheap in terms of financing and that are expensive in marketing the company’s products. The elements of managers in the development of marketing strategies that are competitive is crucial in enhancing marketing management (Pellettiere, 2006). Conclusion The viability of any business venture depends on the location in which it operates. In this case, a situation analysis is very important before setting up a business, as it supports an investor in drawing a business plan. It is important to understand the external business environment, as this will allow the entrepreneur to plan strategic positioning of the new venture. Various factors affect the external environment including economic conditions, socio-cultural factor s, political stability, and available technology. In addition, it is important to draw a situation analysis framework especially in times of change, as this will enhance effective change management. In constructing a situation analysis framework, a number of steps is adopted, the first one being realization of the significance and the scope of such a planning for effective marketing strategies, which also entail understanding the business clearly. The second step involves evaluating the internal organizational variables that influence strategy implementation in an organization. This includes a SWOT analysis that identifies the various strengths inherent in the firm, weaknesses that need to be worked upon, opportunities that the firm needs to pursue, and threats that are likely to affect the smooth running of the business. The third step involves scanning the external environment in order to understand what game plan the business should play in order to be competitive. The external e nvironment evaluation will entail identifying the main competitors, the products they offer and strategies they use in the market, as well as other external variables included in PEST. Lastly, SWOT analysis is an important tool in a business especially in formulation and implementation of marketing strategies. A firm will need to understand its strength, which give it competitive advantage and then work to reinforce them. In addition, understanding weaknesses will help the firm to know what strategy to apply in the market to avoid other firms taking advantage. Moreover, identification of opportunities and threats in the market will; allow the firm to develop marketing strategies that will be unique when compared to competitors. Reference List Albright, K., 2004, Environmental scanning: radar for success. Information Management Journal, Vol. 30, No. 3. ABI/INFORM Global. (Attached material). Barron, J. and Hollingshead, J., 2002, Making segmentation work. Marketing Management, Vol. 1 1, No. 1. ABI/INFORM Global. (Attached material). Freeman, N., 2005, Extended marketing mix drives service delivery. Ophthalmology Times, Vol. 30, Issue 20. (Attached material). Novicevic, M. et al., 2004. Dual-perspective SWOT: a synthesis of marketing intelligence and planning. Marketing intelligence and planning, Vol. 22, No. 1. ABI/INFORM Global. Pellettiere, V., 2006. Organization Self-Assessment to Determine the Readiness and Risk for a Planned. Organization Development Journal, Vol. 24, No. 4. Raaij, E., 2005. The strategic value of customer profitability analysis. Marketing intelligence and planning, Vol. 23, No. 4/5. ABI/INFORM Global. Reed, P. (2003). Strategic Marketing Planning. Australia: Thomson. This essay on The Development of an Effective Marketing Plan and Its Management was written and submitted by user Neil T. to help you with your own studies. 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