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4.2 Marketing Planning
4.2 Marketing Planning
MANAGEMENT
4.2 Marketing Planning
(Including introduction to the four P’s)
Learning Outcomes
◦ To understand the elements of a marketing plan (A01) and the role of
market planning (A02)
◦ To understand (A02) and apply the 4P’s of the marketing mix to given
situations (A04)
◦ Discuss the effectiveness of a selected marketing mix in achieving
marketing objectives (A03)
◦ To understand the difference between target markets and market
segments in a given situation (A02)
◦ Discuss possible target markets and market segments in a given situation
(A04)
◦ To understand the difference between niche market and mass market
(A02)
◦ How organisations target and segment their market and create consumer
profiles (A02)
◦ To create (A02) and analyse a product position/perception map (A04)
◦ The importance of having a unique selling point (USP) (A02)
◦ How organisations can differentiate themselves and their products from
their competitors (A03)
Essential Discussion Questions
Do you think it is a case of using
To what extent appropriate tools that will inform
is developing a you of the best approach or is it
successful more subjective and ‘hunch’
marketing plan based?
scientific?
To what extent
do you think a
clear, well
researched
marketing plan
guarantees
success?
MARKETING
PLANNING
The Role of Market Planning
“The process of formulating marketing objectives
and devising appropriate marketing strategies to
meet the objectives”
MARKETING
OBJECTIVES What the marketing function needs to
do to fulfil the corporate objective
External Constraints
◦ Competition
◦ The economy
◦ Tastes and fashions
Benefits & Limitations of
Market Planning
BENEFITS LIMITATIONS
SALES PROFITS
ECONOMIES
MARKET LOYALTY / OF SCALE
REPUTATION
SHARE
Example - McDonalds
Benefits of Segmentation
◦ Businesses are successful when they provide things that customers
want
◦ Segmentation allows businesses to develop products that more
closely meet customer needs
◦ A range of products can be made to appeal to different market
segments
◦ Also allows promotional spending to be targeted more effectively
◦ E.g. adverts not put in the wrong kind of newspaper or magazine
◦ Sales promotions (e.g. price discounts) not offered to customers who
don’t respond to them
Difference Between A Niche
and Mass Market Strategy
Niche Market: Mass Market:
“ A narrow, smaller or more
specific market segment
within a larger market”
Savoury
Task
◦ Copy the market map from the previous slide onto a piece of
paper.
◦ Look at the different foods on the next slide and see if you can put
them in the correct place on the axis according to whether they
are sweet or savoury and whether they are mild or strong tasting
Milk Chocolate Bread Salted Crisps
Karen
Millen
French
Connectio
n
classic fashion
Top
Shop
New
Look
H&M
Primark
Low Price
Choosing the right factors
Each market will have different key features.
◦ Examples could be:
◦ High Price/Low Price
◦ Youthful/Older
◦ Modern/Traditional
◦ Masculine/Feminine
◦ Fashion/Classic
◦ Aesthetic/Functional
◦ Luxury/Everyday
Unique Selling Point (U.S.P.)
“A product’s feature(s) that differentiate it from
other competing products”