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Company LOGO Implementing Marketing Plans A2 Business Studies Aims & Objectives Aim: • Understand issues surrounding marketing plans. Objectives: • Define marketing plans. • Explain the components of a marketing plan. • Analyse the influences on marketing plans. • Evaluate the issues surrounding marketing plans. Starter • Define marketing plan. • Define SWOT analysis. • What are the benefits of carrying out SWOT analysis? Marketing Plans • Written details of the activities to be used to carry out the marketing strategy. – Description of activities – marketing mix – Time frame – Justifications of strategies Marketing Plan SWOT Analysis Situation Analysis Objectives Elements Sales Forecasts Budgets Strategies & Tactics Situation Analysis • Builds on SWOT and market research to create a picture of the business situation: – The Business: internal resources – Customers: demand and behaviour – Competitors: activity and strategies – Market Environment: structure of the market Budgets • Must be justified against SMART objectives. • Size will depend on: – How much competitors are spending on marketing. – Expected returns from campaigns. – Current financial position of business. Sales Forecasts • Can be created and analysed using: – Historic Data from previous campaigns. – Current Trends – Future Expectations – extrapolation Internal Influences on Marketing Plans – Round Robin • How may each of the following functions affect marketing plans? Finance HR Operations - Budget setting - Financial analysis - Matching strategy to workforce planning - Can the firm cope with increased demand? - Is there enough capacity? - Is the supply chain flexible? External Influences on Marketing Plans Brainstorm in groups the external factors which could affect marketing plans. External Influences on Marketing Plans Competitors • Firms will have to proactive and reactive to competitors actions to avoid losing any competitive advantage. Market Conditions • Economic and political climate will affect market conditions. • Consumer confidence and behaviour. Technological Change • Firms that make use of technology may be able to benefit from lower costs and therefore build a competitive advantage. EV: Issues of Marketing Plans Scheduling Key Tasks • Important so all functions are aware of deadlines and completion dates. Resources Required • Vital that communication between functions is good, raw materials and labour must be in place to meet demand. The Cost Control • Vital that all functions share in creation of budget. If not can be demotivating and cause problems between functions. • Responsibility should be designated to a particular manager who monitors project, and has enough flexibility to alter it, both financially and with resources. Plenary • Give 3 internal influences on marketing plans. • Give 3 external influences on marketing plans. • Does a business as successful as Microsoft have to worry about competitors such as Apple?