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[otw_shortcode_button href="http://perfectessaywriters.com/index.php/orders/neworder" size="large" icon_type="social foundicon-thumb-up" icon_position="right" shape="square" color_class="otw-greenish" page_view="_blank"]Order Now[/otw_shortcode_button]Marketing Management and PlanningMarketing Management and PlanningMarketing Management and PlanningModule 2:Marketing in the Organisation:Strategic Environment and PlanningContents1.1 Learning Objectives 21.2 Module Overview 21.4 Discussion Forum 31.5 Self-directed Study 31.6 Key Points to take from Module 2 31.1 Learning ObjectivesOrganisations need to plan for a wide amount of factors in the marketplace in order to be successful and achieve an advantage in the marketplace. In today’s dynamic environment, strategic planning certainly does provide better tools and resources to help survive, compete, and thrive in the marketplace. After studying Module 2 you will be able to: 1. Explain and distinguish between strategic, functional and operational planning;2. List and explain the five steps in strategic planning;3. Perform situation and SWOT analyses; and4. Define marketing plan and outline its usual elements.1.2 Module OverviewModule 1 introduced the notion of marketing planning; Module 2 further examines this concept. Sound strategic planning can take place at both the corporate and the strategic business unit (SBU) level in large firms and in smaller businesses. Business planning occurs at three levels: strategic, functional, and operational. Broadly, strategic planning is undertaken by top-level corporate management, functional planning is undertaken by functional level management and operational planning is typically performed by supervisory managers, that is, the top level is “big picture” stuff, while the bottom level specifies the “nuts-and-bolts” actions the firm will need to take to achieve these lofty goals (learning objective 1, p. 40 – 46). There are five stages in the strategic planning process: (1) define the mission/vision, (2) evaluate the internal and external environments, (3) set organisational (or SBU) objectives, (4) establish the business portfolio and (5) develop growth strategies (learning objective 2, p. 46 – 53). As part of step 2, organisations should undertake a SWOT analysis. A SWOT analysis provides a summary of the ideas developed in a situation analysis, allows managers to focus clearly on the meaningful strengths (S) and weaknesses (W) in the organisation’s internal environment and opportunities (O) and threats (T) coming from the organisation’s external environment (learning objective 3, p. 48).Marketing planning is a form of functional planning. Marketing planning involves four steps: (1) perform a situation analysis, (2) set marketing objectives, (3) develop marketing strategies and (4) implement and control the marketing plan. The marketing plan is the document that describes the business environment, lists and justifies objectives, strategies, action plans and controls (learning objective 4, p. 54 – 60). A simplified marketing plan includes:? Executive Summary? Situation Analysis? SWOT Analysis? Marketing Objectives? Marketing Mix? Implement and Control? Measure and Control1.3.1 Solomon, Marshall and Stuart (2012)Chapter 2: “Strategic Market Planning”1.4 Discussion ForumIn Module 2, strategic, functional, and operational planning were discussed. Yet, some firms are successful without formal planning. Do you think planning is essential to a firm’s success? Discuss. 1.5 Self-directed Study 1. Tiger Beer is a European-style lager; brewed using only the finest natural ingredient. Launched in 1932, Tiger Beer is the flagship brand under Asia Pacific Breweries (APB) in Singapore. You are the marketing manager for APB.? Perform a situation analysis for your brand.? Using the situation analysis, identify and explain the opportunities and threats facing your company? In what ways, if any, can you try to establish a long-term relationship with your customers?? Complete the SWOT analysis. 2. What trends impact would marketing planning for Netflix (https://signup.netflix.com/global)?1.6 Key Points to take from Module 2? Business planning occurs at three levels: strategic, functional, and operational;? Strategic planning involves five steps; ? SWOT analysis provides a summary of the meaningful strengths, weaknesses (internal environment), opportunities and threats (external environment); and? Marketing planning is a functional planning process involving four stages.
