Marketing Planning
MARKET PLAN- A document outlining an organisation's marketing objectives and marketing strategies to achieve these objectivies
MARKETING PLANNING- the systematic process of devising marketing objectivies and appropriate marketing strategies to Achieve these goals
MARKETING AUDIT- an examination of the current climate in which the business operates. market research is integral to this investigation
MARKETING OBJECTIVIES- the marketing audit enables the business to set marketing goals and target
MARKETING STRATEGIES- the plan and use of marketing mix to achieve marketing objectives
MONITORING AND REVIEW- a continual process of checking and monitoring that targets are being met.
EVALUATION- an examination of the extent to which the business has succeeded in achieving its marketing objectivies. aids decision making
4 P's
product
price
promotion
place
PRODUCT
a physical good or an intangible service
producer products- industrial products sold to other businesses to futher the production process
consumer products- sold to the end user/private individuals
PRICE
Demand
Rivalry
Aims
Supply
Time
Image
Costs of Production
PLACE- methods of distributing products to customers
PROMOTION- refers to the strategies used to attract customers to buy a firms products
advertising
sales promotion
sponsorship
publicity
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