24 Explain the value for a perfect marketing plan Marketing planning helps

24 explain the value for a perfect marketing plan

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2.4 Explain the value for a perfect marketing plan. Marketing planning helps Barclay to develop products and services in your business that meet the needs of your target market. Good marketing helps your customers understand why your product or service is better than, or different from, the competition. A good marketing plan can help Barclay reach its target audience, boost customer base, and ultimately, increase bottom line. It's often required when seeking funding and helps Barclay set clear, realistic and measurable objectives for Barclay business. Developing a marketing plan requires research, time and commitment, but is a very valuable process that can greatly contribute to Barclay business success.
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2.5 Explain marketing planning process and stages (analysis, planning, implementation, control) Subsequent to scrutinize marketing research and accumulating effective marketing strategies by the firm, the next foremost function is the Planning. In Barclay group, the department of planning and administration makes different plans that are connected to the financial conditions, forecasting of sales, message, etc. Suitable planning is compulsory by every organization to acclimatize their organization’s goals and accomplish victory in their each mission. Planning is the most indispensable function amid all of them. The companies like Barclay group use diverse tactics for the planning of their marketing guidelines. The marketing planning cycle; Analyze, Planning, Implementation and Control (APIC) is a model used to visually illustrate the 4 stages of planning within a marketing environment. The cycle starts with the audit and analysis, step 1. In a new business start-up, the audit and analysis process generally quickly leads to the initial business planning and objective/goal setting. For existing businesses, this level of analysis and planning generally comes as a result of a major event such as a recession, or after a major change in 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 in most 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 the marketing plan is produced. This includes results of the audit and analysis activities along with marketing objectives, marketing strategy and overall tactical plans – these activities are synchronized with the overall corporate mission, strategies and objectives. The implementation stage consists of the marketing and promotional
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mix. This also includes communications and delivery of activities which are derived from media plans. Finally, with control/evaluation , we examine our overall performance in meeting our objectives by utilizing a number of metrics. These will include measures such as; how well we are meeting the expectations of our customers, where we are strong/weak/vulnerable, how can we meet or
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  • Winter '20
  • Business, Marketing, ........., Barclays PLC

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