Marketing is considered as the set of activities processed together to achieve a particular objective. The main activities of marketing can be divided into the ongoing marketing process, on-time marketing process, and the new idea generation. These three activities are further divided to ensure the successful scale of the product or products.
The marketing activity which is significant in the ongoing marketing activity is the advertising, “Advertising is the nonpersonal communication of information usually paid for and usually persuasive in nature about products, services or ideas by identified sponsors through the various media” (Bovee & Taflinger, 1992, p. 7). It is the vital tool of promotion, it is only through advertising the message about the product, and it influences them, and also motivates them in favor of the product.
The second activity important is market research, the function that associates with the clients, patrons, and community to the marketer through communication, i.e. the information needed to recognize and describe marketing prospects and troubles. The research is found very significant, as it provides management with appropriate, precise, consistent, suitable, and up-to-date information. Viable marketing environment and the ever-increasing expenses accredited to poor judgment necessitate the relevance of market research. Good decisions are not supported on gut sensation, perception, or even verdict. The third activity is the new idea generation and this includes the new product development, by the means of creative ideas and testing the feasibility of the same before going for the final manufacturing.
The Purpose and Significance of the Marketing Plan
- The purpose of the marketing plan is to move the way for the business to advance, construct a customer base, and decide the prospect to formulate profits. At the time of deciding marketing plans the prediction and decision on how the business will get together with customer needs. This is highly essential when making a profit for the business. The marketing plan should necessarily highlight the offers provided, customers, and distribution of the product, competitors, promotion, and pricing. Planning is vital to establish the expectations of the business and at the center of the business is the marketing plan. It is not just the complete marketing plan which helps out but the plan that can help to sort out any obstacles faced initially.
- The significance of the marketing plan is that it helps to chart out the entire marketing budget, and the reasonable number of marketing activities for accomplishment. Secondly, they help to value the target market and to know the various prospective customers for the organization. Finally, they help to identify which media to incorporate into for promotion activities.
- In addition to the marketing department, the sales department and the finance department have to take part in the market plan. It is the sales department which has to project the target customers and the necessities. The finance department has to make the budget and set the prices involved in each of the expenses.
Defend or contradict this statement: Corporate mission statements are not relevant to a company’s marketing strategic planning
The mission statement is much significant, it denotes every action perform and outlook of where the proceedings are being proficient. ”A mission statement is a statement of the organization’s reason for being, its purpose is what it wants to accomplish in the larger environment. (Kotler p. 49). It explains why the organization does what it does. It says that, in the end, the organization wants to be remembered (Drucker) (Mission Statements, 2010).
The current strategic marketing viewpoint specifies that an organization should identify a business by the nature of the customers it desires to serve, the meticulous needs of those customers groups it wishes to convince. Missions may need to be modified every few years in reaction to each innovative turn in the financial system. It is the strategic market planning which has the effect of the mission statement, they lead to the success of the organization by making use of the various opportunities.
Review the major obstacles to developing and implementing marketing plans
Inadequate communication is a menace to the organization, many times it can lead to decline and losses in the organization. By inadequate communication, it means the only vague idea is being communicated to the customers. Effective Communication training should be given to people irrespective of the workplace. The essentials of communications should be conveyed to the people.
Lack of Understanding Customers
The customer is the main asset of the company, without understanding the customer properly, the marketing system fails. “Companies will not be able to differentiate their products or service and command preference or premium prices let alone expand their customer wallet share” (Customer Experience Management Study 2004). This can be overcome by hiring a separate team for the analysis and understanding of the customers, they have to conduct research or identifying the customer’s needs. Only this can ensure success for the organization.
Staff Turnover or Lack of Staff
The staff turnover or the lack of staff is caused when the employees are not satisfied with the company, job, salary, or the other facilities offered by the companies. This can be overcome by analyzing the problems of the employees, the constant motivation given to them, and giving them a chance to speak out the problems in the organization. ”There are several interesting alternatives to just offering cash. Depending on your staff’s interests, it could be an Xbox, a day at the races, a pampering session at the health spa – anything really” (Urbane, 2009).
Bovee & Taflinger, R. F. (1992). A Definition of Advertising. Web.
Customer Experience Management Study. (2004). Lack of Customer Experience: a Major Obstacle on the Road to Business Growth: Service Excellence at Risk. Web.
Mission Statements. (2010). My Strategic Plan. Web.
Urbane, C. J. (2009). Answers: Reducing High Staff Turnover. Callcentre Helper.com. Web.