•“Marketing is too important to be left just to the marketing department”•–Philip Almond, •marketing director, Diageo•
Learning outcomesDevelop marketing strategies that address strengths and opportunities within the organisation’s projected capabilities and resources1Ensure marketing plan meets organisational, as well as marketing, objectives and incorporates marketing approaches and a strategic marketing mix2Present marketing plan for approval in the required format and timeframe3
Introduction to this unit•This unit describes the skills and knowledge required to research, develop and present a marketing plan for an organisation.•It applies to individuals working in senior marketing positions who are responsible for formulating a marketing plan by developing specific marketing strategies and tactics in accordance with the organisation’s overall marketing objectives.
Devise marketing strategies1.1 Evaluate marketing opportunity options that address organisational objectives and evaluate their risks and returns in the selection process
What are your organisational objectives?Objectives may involve:•Improving the current product range•Developing a new product or set of products•Company growth•Attract more customers.
Marketing opportunities•Achieving lower costs of production and distribution than competitors•Creating a very different product line or service •Pricing, presentation and display of products •Product design and packaging•Product range and mix•Promotion and advertising•Pursuing cost leadership or product differentiation.
Evaluation risks and returns•Who can you potentially attract to the brand and through which aspects?•Where does the appeal lie for different demographics?•What is the demand for the product or service?•What is the size of the market and your share/potential share?•Who are your competitors and how do they compare?
Devise marketing strategies1.2 Develop marketing strategies that address strengths and opportunities within the organisation’s projected capabilities and resources