2.4 Explain the value for a perfect marketing plan.Marketing planning helps Barclay to develop products and services in your business that meetthe needs of your target market. Good marketing helps your customers understand why yourproduct or service is better than, or different from, the competition.A good marketing plan can help Barclay reach its target audience, boost customer base, andultimately, increase bottom line. It's often required when seeking funding and helps Barclay setclear, realistic and measurable objectives for Barclay business.Developing a marketing plan requires research, time and commitment, but is a very valuableprocess that can greatly contribute to Barclay business success.
2.5 Explain marketing planning process and stages(analysis, planning, implementation, control)Subsequent to scrutinize marketing research and accumulating effective marketing strategies bythe firm, the next foremost function is the Planning. In Barclay group, the department ofplanning and administration makes different plans that are connected to the financial conditions,forecasting of sales, message, etc. Suitable planning is compulsory by every organization toacclimatize their organization’s goals and accomplish victory in their each mission. Planning isthe most indispensable function amid all of them. The companies like Barclay group use diversetactics for the planning of their marketing guidelines. The marketing planning cycle; Analyze, Planning, Implementation and Control (APIC) is amodel used to visually illustrate the 4 stages of planning within a marketing environment. Thecycle starts with the audit and analysis,step 1.In a new business start-up, the audit and analysis process generally quickly leads to the initialbusiness planning and objective/goal setting. For existing businesses, this level of analysis andplanning generally comes as a result of a major event such as a recession, or after a major changein technology or possibly some heavy competitor activity within the marketplace.However, in both cases, annual reviews of the audit, analysis and planning stages are typical inmost market-orientated companies that have the resources to do this.‘Following the Audit and analysis step 1 is the actual planning. It’s at this stage that themarketing plan is produced. This includes results of the audit and analysis activities along withmarketing objectives, marketingstrategy and overall tactical plans –these activities are synchronized withthe overall corporate mission,strategiesandobjectives.The implementation stageconsistsof the marketing and promotional
mix. This also includes communications and delivery of activities which are derived from mediaplans.Finally, with control/evaluation, we examine our overall performance in meeting our objectivesby utilizing a number of metrics. These will include measures such as; how well we are meetingthe expectations of our customers, where we are strong/weak/vulnerable, how can we meet or