MARKETING & MANAGEMENT

Marketing Planning

Abstract

So as to make the most out of the profits and cut down risks and threats in a business, the most dependable and consistent approach is to adapt an appropriate marketing plan with the specific needs in the meantime making use of accessible information and marketing tools to add to the flexibility. On the other hand, it is unusual that there are a small number of factors that should be taken into consideration since it would have an effect on the effectual execution of the marketing plan or yet spoil the entire picture. Thus, in this paper we will examine the meanings and basics of marketing planning. Moreover, the changing perspectives, organization's capability, future marketing activities, external factors affecting the marketing planning, main barriers and suggestions to remove them and lastly making a marketing plan for an organization would also be bring into discussion.

Abstract1

Introduction3

Discussion3

Changing Perspectives in Prada's Marketing Planning3

An organisation's capability for planning its future marketing activity5

Examining the Technique for Prada's auditing and for Analysing External Factors that affect Prada's Marketing Planning6

Assessing the Main Barriers to Prada's Marketing Planning8

Examining how Prada may overcome the Barriers to Marketing Planning8

Making a Marketing Plan for Prada9

Conclusions and Recommendations12

References14

Marketing Planning

Introduction

The marketing planning is the most essential and important phase of the marketing process. It is carried out not just at the starting of the process; however, also at a chain of points all through the execution of the plan (Boone, 2009, p.670). Both external and internal influences are considered during the process of marketing planning. Thus, marketing planning can be considered a bunch of efforts that are made to assess the wants and needs of the customer and also to identify with the community patterns (Boone, 2009, p.672). Philip Kotler has defined marketing planning as a systematic, comprehensive, periodic and independent examination resources and activities with the intention to settle on the areas of concern and chances and to suggest a strategy or game plan (Kotler, 2009, p.563). Thus, the organisation, I have selected for this assignment is Prada which is a leading international fashion brand. Thus, in this paper, I will try to explain the fundamentals and significance of a marketing plan that can help Prada in enhancing its competitiveness and strength to successively amplify its market share.

Discussion

Changing Perspectives in Prada's Marketing Planning

To study the changing perspectives of a marketing planning, a cautious and effective preplanning and organisation is mandatory. Fundamental organisational, people and cultural prerequisites, and the projected extent of the activity of marketing planning has to be accredited (Ferrell, 2011, p.414). Other than this, all leading exemplars of marketing planning have the same opinion that marketing planning is incomplete and ineffective without management. The anticipation of senior managers and upper level management from marketing planning ought to be very practical, concise and clear. They ought to be acquainted with the fact that they are a significant element of the marketing planning development and all concerned managers ought to have straight and clear ...