How to Write an Extended Business Studies Response Essay

A marketing plan can be viewed as a roadmap in which an organization navigates through a sequence of steps in order to promote a service, goods, or program (Thomas, 2015) (May, Apr 12, 2012). Therefore, in order to initiate the occurrence of any marketing activity, it is vital to have a marketing plan to follow in the event to create awareness, attract customers, and to gain business (Thomas, 2015). In having a marketing plan, the organization must delineate their marketing initiative through a sequence of designated steps by strategically organizing, marketing activities while defining who will be their targeted potential customers (Buttell, Jan/Feb 2009). In meeting the strategic objectives of a marketing plan, it should

Marketing- Infilling a market lead ethos thought out, researching on external opportunities to understand current and potential customers, developing the marketing plan and strategy. Managing budgets and market success.

Question 2: Describe the methods for marketing planning, including business portfolio analysis, the Boston Consulting Group market

The process of marketing involves the action of advertising and promoting a company, product or service. This includes everything the customer encounters in relation to the company, from advertisements to customer service experiences. Marketing is often broken down into four sections, known as ‘the four P’s of marketing’.

I. Executive Summary II. Situation Analysis o Market Summary  Target Market Demographics  Geographic  Demographics  Behavior Factors Market Needs Market Trends Market Growth o SWOT Analysis  Strengths  Weaknesses  Opportunities  Threats o Competition o Product Offering o Keys to Success o Critical Issues III. Marketing Strategy o Mission o Marketing Objectives o Financial Objectives o Target Markets o Positioning o Strategies o Marketing Mix o Marketing Research o Action Plan IV. Financials o o o V. Controls o o o VI. Summary Implementation Marketing Organization Contingency Planning Breakeven Analysis Sales Forecast Expense Forecast

The situation analysis is where you have to clearly demonstrate that you understand the company and its current situation. The two parts to this analysis are the Overview, which is a tightly focused summary or size-up of the company; and a SWOT Analysis, which is an analysis of the company’s ability to handle the current problem.

To understand our firm’s capabilities, business environment, and customers, we need to conduct a situational analysis. First, we perform a SWOT analysis so we can come up with a plan for current or future scenarios.

2) What are the key components of a marketing plan? List and describe each component briefly.

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

Question 4. Write an outline marketing plan, focusing on product, price and promotion for the launch of CMF as a global brand. Provide

Marketers must understand the current and potential environment that the product or service will be marketed in. A situation analysis is sometimes referred to as a SWOT analysis; the firm should identify its internal strength (S) and weakness (W) and also examine external opportunities (O) and threats (T). When examining internal strength and weakness, the marketing manager should focus on organizational resources such as production costs, marketing skills, financial resource, company or brand image, employee capabilities, and available technology. When examining external opportunities and threats, marketing managers must analyze aspects of the marketing environment. This process is called environmental scanning. So that, there is analysis SWOT for McDonalds Company:

Discuss the potential audiences for a marketing plan and the needs of those potential audiences.

Situational analysis is an effective strategy of examining both the internal and external factors that affect a business, upon which strategies of overcoming challenges and implementing the desired corporate direction strategy is based (Thamir & Poulis, 2015). Consequently, the management of such an organization can have a vivid picture of it and plan accordingly. In fact, leaders in general focus exclusively on these elements whilst assessing their businesses: customers, competitors, and projected growth, among others. From the case, it is evident that Florian Nehm was trying to establish the factors that would hinder the business from attaining its objectives when he resorted to that. One clear example is evidenced by the fact that he was devastated when the Nokia representatives declined to comment on Poulsen’s findings. Precisely, Nehm’s business relied on Nokia products, and thus if the company was being mentioned for the wrong reasons would subsequently affect their business as well. In that regard, Nehm had to strategize in order to avoid a potential stigmatization. Moreover, a SWOT analysis might have helped the organization to identify the factors presumed to hinder it from fulfilling its main objectives as revealed. It is through the SWOT analysis that a company is able to

Once a company defines its mission and vision statement, an internal and external analysis is performed to resolve where competencies and weak points lie in relation to competitive opportunities and threats, and external environmental factors. Subsequently, a SWOT audit will determine a firm’s current strategic position, while validating key problems; thereby, enabling the firm to lead the negative aspects toward a more conclusive and positive direction. On the other hand, political, economic, social, technological, regulatory, and environmental forces are

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