Planning and Implementing Marketing Objectives Outline the planning process of c
ID: 415541 • Letter: P
Question
Planning and Implementing Marketing Objectives Outline the planning process of creating a marketing plan Explain the important considerations in implementing a marketing plan Discussion Overview This discussion forum explores the important considerations when developing a marketing plan. Deliverables Your participation in the discussion forum including: Step 1 An initial post in response to question(s) by due date Step 2 Responses to at least two other students' posts View the rubric for grading criteria. (See the "gear" icon.) Review this document for information about discussion expectations and for the philosophy behind discussion assignments. Review the syllabus for etiquette expectations. Replies are visible after your initial post is completed (Step 1). Step 1 Initial post is a response to ONE of these 2 scenarios. Post your answers to the discussion board. Choose either Scenario 1 or Scenario 2, not both. Scenario 1: Imagine that you are the newly appointed Chief Marketing Officer (CMO) at Big Established Company Inc. (BEC). BEC has been around for more than 50 years and has many well-known brands, the majority of which command large market shares. Your first task is to develop a marketing plan. What kinds of things will you consider? How would the types of products or services affect your answers? How might your approach differ from what would be proposed in Scenario 2? Scenario 2: Now imagine that you have been appointed the CMO at Small New Start-Up Company, Inc (SNSU). SNSU is a new company which hopes to challenge the entrenched players. Again, your first task is to develop a marketing plan. What kinds of things will you consider? How would the types of products or services affect your answers? How might your approach differ from what would be proposed in Scenario 1? HINTS: Be sure to address the strategic, functional, and operational aspects of a marketing plan. The brief scenarios have been left purposefully vague; feel free to add in further creative details about the types of products BEC or SNSU produces or other aspects of the company (as long as in doing so it helps market planning). Step 2 Read and respond to other students' posts. For subsequent posts, imagine yourself in the role of Chief Executive Officer (CEO) of the BEC or SNSU. Respond to initial posts of your classmates in which they played the role of CMOs of your company. What kinds of questions would you have for the CMO? What additional information would you want to have as you and your CMO discuss the development of the marketing plan? How would you evaluate your CMO's work? Do you think that they did a good job and are on the right track or would you send them back to the drawing board? Be professional in your comments but remember you are the CEO and ultimately responsible for company performance. If you believe that your CMO is off the mark, it's your job to provide appropriate feedback to get things right. If differences of opinion occur, debate the issues professionally and provide examples to support your opinions.
Explanation / Answer
Marketing Plan:
The five steps in strategic marketing are:
Setting objectives-Measurable & Achievable in 1 year:
Developing a marketing strategy:
- New fleet with all same type of air crafts
- Fresh energy
- Motivated Team
- Flexibility as we are a small organization
- New Entrant
- Learning organization
- Less resources
- Space for new entartnt in low cost
- New team with scope for ample flexibility
- Learning from existing players
- Competition already deep in the market since 50 years