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To create a marketing planning, there is necessary to make a business plan. This is developed for the purpose of conducting advertising and ensuring efforts of marketing team in the promotion of firm for future. It also evaluates that marketing objectives will be achieved in given time period to accomplish the organisational goals (Kerzner, 2013). Marketing plan analyses the customer’s needs through market research in order to fulfil the requirements of business. This plan generally includes process of determining market situation, sales forecasts, strategies as well as activities related to the product specific and market specific etc. In the present research, report will include marketing planning, its perspectives and various strategies which are needed for such planning.
For better understanding of this report, easyJet Airline has been chosen. It is a British low cost airline carrier company based at London Airport. In addition to this, present report will deal with the issues or barriers which come at the time of conducting marketing planning. For this, McDonald's Happy Meal has been been chosen for creating aqnd implementing the marketing plan. In further task, it will involve the formulation of marketing plan as well as strategic planning of the chosen organization. Moreover, report will describe about various ethical issues in context of marketing planning.
To make a business plan, it is necessary to focus on marketing which should be effective as it enhances the profitability of organization. According to the Balmer (2011), states that, without the business strategies the market plan can't be make so the company e needed a good marketing plan for their products and services (Balmer, 2011). This plan describes about various business strategies and current position of the firm. Organization needs better marketing mix strategies to target consumers and achieve business goals as well as objectives.
Marketing plan constitutes in a form of formal structure but it can be used in both the informal and formal way to make it flexible. This plan is made on the basis of previous financial position as well as future scope which can help business to enhance profitability. It includes several techniques that help business to utilize their resources in the best way.
Two recent trends / perspectives in the practice of modern marketing planning are as follows:
Direct motivation to the customers is a major key of success for the organization. Firm can motivate their customers according to their convenience, quality, value and their services (Greenberg, 2010. Business enterprise is offering good quality products at low cost. This is because new trend is all about to attract large number of customers and satisfy them from products and services of business.
Today, companies need loyal customers who will remain with them lifelong. Through this, their profitability and market share will not be affected in future. For that, firm is satisfying their customers by charging low cost on their products as well as providing some offers and vouchers so that customers can get attracted towards the organization (Pagla and Brennan, 2014). To retain their customers, company should focus to meet the needs, tastes, preferences and lifestyles of them. Through this, they can maintain their customers and increase their profitability on the regular basis.
Two capabilities which are important for the organization to make planning of their future marketing activities are as follows:
Capability is one of the core competencies of an organization which helps them to expand their business. For example: Easy Jet is offering their services at low price as compared to other airlines of Europe which benefits them as well as their consumers (Singh and Gupta, 2013). Low cost airlines have the potential to attract large number of customers and they are able to expand their business.
It is also an essential part of organization as it helps to boost up their profits and extend their market share (Avlonitis and Giannopoulos, 2012). Promotional tools includes advertising, social media and print media which promote company in front of customers to attract them as well as to retain them for a long run. This tool also helps in improving the financial position of company.
Organizational auditing can be carried out through SWOT analysis. This is emphasis on the capabilities and resources which are as follows:
The main barriers to marketing planning which are composed by the Malcolm McDonald that are useful in the preparation and implementation of marketing plans. Here, the solution to these challenges are also given and they are as follows:
|Barriers / Challenges||Possible solutions / Activities|
Lack of Detailed Analysis:
In this, the company is not doing the in – depth research to know the needs and requirements of the customer.
Lack of knowledge and skills:
Hostile Corporate Cultures:
The business enterprise should have good environment in their workplace as well as good terms with their customers.
McDonald's will use the bundle pricing strategy in this product that is Happy Meal. In this, the company will sell the set of food products in one package which will charge the customers at the lower price. This will benefits the company as well because the profits margins will get increased. Customers will be happy also due to the discounts, the firm offering on the food products. When the customer is receiving good quality products for a low cost then the consumers willing to buy more because they are getting discounts on that.
This directly affects the company in positive way because through this the profitability is rising as well as market share is also expanding. For example, when customers will purchase the burger and fries individually then it will be high in cost as compared to the bundled products (McDonald, 2016). This because the individually will range high as compared to the package bundle. It also reduces pricing disputes with customers. This strategy will help the customers to attract more to the products and indirectly company is benefiting from this. So McDonald's is applying this strategy in their products to gather large customer base.
The three advantages of marketing planning within the organization of McDonald's are as follows:
A plan keeps the marketing efforts connected with organizational goals and objectives. This is because it helps in determining the work which should be done and which should not be done. It will also focussed the teammates to do their work systematically which will lead to the goals and objectives (Shaw and Thomson, 2013).
A better plan creates easy access to know the new opportunities. Through its advertising tool, the company can know the new market sector in the marketplace and its competitors. So, it gives them criteria to know their possibilities in which they can improvise.
This will bind the whole organization to accomplished their goals and objectives because they are connected to the marketing plan only. A better marketing plan will help in problems, challenges, goals, objectives, strategies and tactics, ultimately getting everyone aligned and contributing (Singh and Gupta, 2013).
Three factors which are needed in achieving the effective implementation of the marketing plan are as follows:
The implementation can be analysed through the customers responses towards the products of McDonald's. This can be in the form of feedbacks which shows their opinions and ideas to make changes in the products (McDonald, 2016). Consumer is power tool to increase the profitability in the business.
This is the key factor for which company is selling their products and services. If the customers are happy then the firm will provide with these products only. If the customers is not happy then the business entity will improvise their products and makes according to the customers' tastes and preferences.
It also a key factor to know the product performance that it is successful or not . For this, company enhance their marketing tools by promoting their products through advertisement, social media, print media and online websites (Akroush, 2012). The performance in the market will shows its suitability to the customers and evaluate its performance.
Ethical marketing is the part of the marketing strategy and more of a belief which informs all marketing efforts. It seeks to promote loyalty, justice, and responsibility in all advertising. Ethics is a notoriously difficult aspect because everyone has subjective judgements about what is “right” and what is “wrong.” For this reason, ethical marketing is not a hard and fast list of rules, but a general set of guidelines to assist companies as they evaluate new marketing strategies. For companies looking to improvise the brand image as well as reputation.
In addition to this, to develop long-term relationships with customers, this kind of unethical behaviour can quickly lead to failure. Customers do not want to feel manipulated by the brands they like (Hatten, 2011). Companies can use ethical marketing as a way to develop a sense of trust among their customers. If a product lives up to the claims made in its advertising, it reflects positively on the entire company. It can make the consumer feel like the company is invested in the quality of the products and the value they provide customers. For example, a company could intentionally package its product to look like that of another popular product even though it knows that its own version is inferior (Usui, 2008).
This company might rely on the fact that not a lot of people will look too closely to tell the difference between the two products. Not only would such a practical application of marketing ethics be morally condemnable, it would also be basis for a lawsuit if the other company can prove that it is capitalizing on its product identity to generate sales. As such, the issue of the application of marketing ethics is one that assist ensure that consumers do not get a raw deal from manufacturers.
The ethical issues refers to problems related to principles of morality that further determines what is right or wrong for business entity. The ethical issues have direct impact on the functions of company and result into negative brand image, legal consequences etc. therefore, it is important for organizations like, Mc Donald's , PUMA to avoid ethical issues for sustaining market reputation, retaining loyal customers and maintaining the interest level of its buyers. In this respect, these entities ensure its dealings are in accordance with prevailing law, products are of good quality etc. Also, companies consider ethical issues in consumer industry in order to avoid same mistake.
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Such as studies revealed that there is high level of obesity in the children of US and UK. As per International association for study of obesity, it was alleged that one third of children are overweight. Considering, the negative impact of junk food of children health, it was decided by Mc Donald's to add healthy food items in menu for kids. Therefore, company added, apple pie, garden salad, filet-o-fish etc products in its menu (Mc Donald's menu, 2015). Further, as per the reports of Green peace that sportswear companies are generating toxic fluids into water bodies etc.
This, resulted into strict actions by government against companies and campaigns by activist, pressure groups etc. Therefore, it stimulated PUMA to remove toxic chemicals from supply chain by taking part in global campaign like, Detox etc (Ethical conusmer issues, 2015). hence, it can be stated that it is significant for entities to avoid ethical issues in order to ensure smooth functioning, high customer satisfaction and retention of buyers in long run.
This report concludes that the effective marketing planning can leads to the accomplishment of the organizational goals and objectives. It also helps in making the profitability and extending the market share for the company. easyJet is the low cost airlines which serving in the whole Europe and its environmental auditing has been done to know the financial position of the company. Furthermore, McDonald's marketing plan has been made to target the more number of the customers for their product that is Happy Meal. In addition to this, the ethical marketing significance and issues are discussed in the report.
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