Marketing plan exam answer

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Author:
MyNameIsE
ID:
217844
Filename:
Marketing plan exam answer
Updated:
2013-05-05 13:35:31
Tags:
Business
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Description:
For AQA Business Unit 3 BUSS3 revision
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  1. Internal Marketing Plan influences
    • Finance available
    • Operational issues - location of the shops, availability of suppliers, quality imagew matching quality production
    • HRM - effective recruiting with the right skills
  2. External Marketing Plan Factors
    • Competitors
    • Quality of market research
    • Technology changes
    • Political factors
  3. Benefits
    • Provides clear sense of direction for marketing management. Ensures people are aiming for the same goals
    • Marketing options are evaluated and prioritised
    • Allocates scarce resources more effectively
    • Encourages coordination with other functional areas (finance, ops & HR)
    • Provides a basis for assessing actual results
    • Makes marketing dept responsible
    • Motivation tool if given responsibility
  4. Drawbacks
    • Can be time-consuming
    • Constant change in the market makes assumptions difficult
    • Danger of either being too simplistic or too complicated
    • The plan can be ignored as circumstances change e.g. recession
    • Plan may be too ambitious
  5. Evaluation
    • Market reaction to new market
    • Is there sufficient research to deploy the new strategy
    • Short term vs Long term

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