Hnd marketing planning

HND Marketing Planning

TASK 1: Compile Marketing Audits A. OUTLINING the way professional perspectives in marketing planning have developed marketing_planning History: Marketing planning has developed and evolved during the recent past tremendously. With the introduction of the Strategic Marketingin the 1970 ’s marketing function has become more developed and planned (Jain, 1992).

The marketing planning concept was developed in the year 1950 as new business ownership started emerging with the growing economy . With the rise of many new businesses there was a need to have a planned marketing activitiy so in response to the business needs decentralised planning started emerging which was limited to few aspects. With time the emergence of new industries increased the level of competittion coupled with the recession in the 1970 ‘s the companies where in a state of financial crisis led to the

emergence of centralised strategic planning. Sucessful attempts of a formal plannin gwas started by Henrey Fayol who was industrialist in France. 1991 McDonald’s in his study reported that marketing planning is implemented by companies of all sizes and all

types. In the complex business environemnt of today marketing planning has become an integral function to gain competitive advantage.

B.Appraisal of the main techniques and processes by marketing audit Main proceses and techniques used in marketing audit are; PEST This tool is used to conduct the environmental analysis of the company.The Political ,social Environmental and Technological environmenet. (PESTLE Analysis, 2014) Importance of PEST Analysis to Pet Delight This analysis will enable Pet Delight to analyse its environment and the factors that affects it.

Pet Delight can use this analysis to scan the opportunities it has due to the changesin the environment . New Technology can serve as a tool for competitive advantage for the firm. Analysis of changesin government policies can open new market for Pet Delight if it is planning to enter Brazilian market PEST analysis is one of the most powerful tool to access the external environment affecting the firm.

Limitations of the Model  The dyanamic external environment of a firm changing at fast pace makes it difficult to predict the present and future  It envolves collecting enormous amount of relevant data from athentic sources making it time taking and costly  It involves making too many assumptions  It is not useful for strategic planning as it uses only external environment of the firm Porter’s 5- forces This model is a framework that helps to think about the competitive situation in the industry. It is done with an analysis of the strength of the forces of competition and then development of business strategy accordingly to manage the competition. In this model the Industrial Organsiation economics is used to understand the five forces determinnig the intensitiy of competition and the attractiveness of the market.  These determine the forces in the environment that impacts the competition ability off a company and What are the brriers to entry Importance of Porter’s Five Force model to Pet Delight  It helps to identify what are the main competitive forces in the environment of the marketand what are their individual strengths  This model is used for unique indusrty analysis so it will give an insight on the analysis of Pet Food Industry of the US  Pet Delight by the help of this model can accessits micro environment including the forces close to the company and increase its ability to make profits.