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Introduction to Marketing Planning
Marketing planning is a process of making strategies for development of new products or services by firms. Effective planning is the key to success for any organisation. Planning not only includes how to launch product in public or marketplace but it is also essential to keep in mind factors regarding customer’s ethics as well as rules and regulations imposed by government (Cravens and Piercy, 2008).
However, in current project, Britvic is the leading soft drink company situated in Europe. It produces soft drinks such as Pepsi, 7UP and Mountain Dew under agreements of PepsiCo. This firm has intended to launch orange crush as a new product in the year 2016. Various policies and strategies has been made in order to introduce this product in market.
Task 1. Be able to Compile a marketing audit
1.1 Changing perspectives
In modern era, almost all of the firm including Britvic, the leading soft drink firm in UK, are very influential regarding marketing plans. However, the cited firm has intended to plan its marketing strategies in such a way that affects customers in best possible manner. Earlier perspectives of firms were just marketing but nothing else (Andreasen and Kotler, 2003). Cost and quality of products was not of so much importance at that time. Customers only intended to purchase products. But now days, companies are aimed at focusing on quality rather than sales. It is because customers are also quality oriented rather than quantity. So the changing perspectives of firm are related to three main objectives: cost, quality and marketing.
The main purpose of Britvic is to produce products with low cost and high quality. In earlier days, production was not based on cost but now every firm focus to reduce as much cost as possible while production process. Secondly, customers were not likely consuming quantitative products earlier but with change of time they are preferring quality rather than quantity (Shilbury, Quick and Westerbeek, 2003). And lastly, marketing was not so influential previously but with changing techniques and introduction of modern technology marketing of products is on high verge and almost all firms are making effective marketing plans to advertise their products.
1.2 Capabilities for future marketing planning
As Britvic is the leading soft drink firm in UK therefore definitely it is very capable in producing its products as well as marketing them. Regarding its future marketing plan, it can be estimated that if decision-makers of Britvic follows the same procedures in future too, than no other firm can take over this cited firm for long-term (Myers, 2015.). Simultaneously, with its strong capability, managers of Britvic have decided to launch new soft drink named Orange crush in market. The main purpose behind introducing this drink is to provide new taste to their customers. Its good financial capability is also responsible for producing new drink because lot of fund is required to producing new product (Hollensen, 2015). Not only production process requires capital but marketing and advertising also needs huge amount of cash to promote new product in market. And this firm has high probability to do all this activities because of its capabilities.
1.3 Techniques for auditing and factors affecting marketing planning
There several factors that affects marketing planning of Britvic. External factors include political factors which includes customers. Change in preferences of customers is the main important factor that is not under control of firm itself. Political factors like government policies and rules also plays dominant role in affecting marketing plans of business. Britvic firm managers or market managers have to follow only that rules which are imposed by government. These external factors can not be controlled by the company as government frame the rules and regulations according to market conditions and global economy, health and safety of employees that helpful for organization. Britvic has to apply these policies and regulations for enhancing the brand name and improve the customer loyalty. In addition to that company also need to use the information provided by the government for the development of business in different parts. The changes in customer perception also a major factor that can not be controlled by Britvic as company can inform, persuade and remind them for product and services. Therefore, continuous research about customer’s needs, habits and preferences is required to understand what and how to produce that suits customers. (Kärnä, Hansen and Juslin, 2003). They cannot go beyond those limits otherwise it is regarded as unlawful. Technological factors include modern tools of advertising that makes promotional process easy for companies. But this should be performed in control because it is costly to use high level technology for small purposes. Competitors also impacts firm's marketing plan up to a great extent. Competing with other firms requires effective planning and Britvic has to maintain its cost and quality that does not affect perceptions of their customers.
1.4 Analysis of external factors
External factors of Britvic include PESTEL tool that indicates what type of factors are present in external environment of the firm that impacts its planning process.
Political factors: - Government plays big role in influencing planning policies if Britvic. Amendments of certain rules and regulations by regulatory authorities bound the firms to work under those limits only (Greenley, Hooley and Saunders, 2004). Cited firm's marketing managers have to adopt various policies that include interest of both government and customers. Simultaneously, it is also important for them to not to cross limits set by government.
Economic factors: - Factor such as inflation creates great impact on company's pricing policies because while inflation, purchasing power of customers get down and their less probability of people to invest more for costly products. Therefore, companies have to set their prices in such a way that suit is compatible while production as well as affordable by