Marketing planning process

Sources of Marketing Research and Information Used In Implementing MMPMarketing planning appendage is a logical sequence and series events to be through with(p) so as to attain strategic planning objectives of an organization and chastenting up strategic plans for achieving them. This is a formal process through with(p) annu eachy by most of organizations such that the results of draft at each stage is analyse to evaluate the impacts it has brought on the earlier stages and changes are d whizz to spiel the prospects. The chief(prenominal) aim is to move from the general to the specific, from the over both objectives of the organization and narrow raven to individual action plan for a section of one commercializeing process.For an organization like Marks and spencer, this is one of widely recognized and largest garb and food retailer in UK. The main source of merchandiseing interrogation and breeding in its implementation of planning process is market audit. This gives bed and accurate information of what is happening at the ground. The information collected apply this audit includes inspection of the marketing environment which involves the study of the organizations markets customers, competitors and over both social, political, adept and economical environment currently and in the future and the review of fine marketing mix in terms of product, price, place and promotion. Finally review of marketing system in its organization, strategies and objectives.Marketing system demand to be a great deal checked since marketing plan depends on the accuracy of information from the system. The innovative(prenominal) source of information used in marketing planning is the depth psychology done on the market to determine what happened and why. The marketing aligning and divider offers the starting point of what is to be achieved by the whole planning process. Ensuring nonionised planning of products and services leads to balanced portfolio and fi nally observing 8020 rule which states that concentrating on the 20% of products or services and 20% of customers exit result in 80% of the volume and 80% of the profit.Benefits Achieved From Marketing PlanningMarks and Spencer cosmos like any other organization which practices marketing planning for its products produce gained significantly. Some of accrued benefits includeThe organization has been able to strongly desexualise itself and develop its identity in the customers, employees and market at large. launching of the new products has been fast and cost effective it sets up a promise and expectation of the organization products and services it has separated the organization from the competitors and has disposed it a tax making it relevant to its customers it determines the unique selling proposition over the competitors It outlines how all defined brands will be used, enhanced and strengthened and allows for strategic positioning of brands in the targeted markets.Ways of Improving Marketing Planning Process Used By Mark and SpencerFor a marketing planning process to remain and move world viable, there need to be frequent redefining and resetting of the objectives to march the market requirements with changing economic times.Several ways in which the Mark and Spencer ships company can do to improve its marketing planning include offshoot developing new range of products to meet the changing market needs and competition arising from other clothing and food making organization, re-launching and redesigning of the existing clothing ranges and doing away with those products that are not serving market efficaciously. brand-new features need to be added and designing new packaging methods to make them look more enchanting to the potential customers. This will checker the products or services have all qualities that a customer expects to get from them. Then price of these products should be set such that they are able to penetrate the market effec tively. This is achieved through determine for different market segments. This segmentation should match differences in the buyer deportment of the customers and study the competition in terms of number of competitors, their size, location and their strengths that exists in the market and devices the price that will be able to emerge as a preferred organization in the market. Acceptance of credit card from other organizations and doing business on Sundays has significantly enabled Mark and Spencer recovers some its market share. The products need to be promoted in the market to create awareness to the customers so as to gain responses from the targeted markets.The marketing campaign dubbed look behind the recording label has created awareness to customer some of ethical and environmental friendly aspects being used by organization and more needs to be done to improve the image of the organization. The public relation of the organization should be swell up developed so as to have a clear disposition between the organization and the customers and organizing the sales force to cover new products introduced in the market. Lastly, having a channel of distribution from the producer to consumer well structured to ensure the products reach the targeted marketed at convenient time This can be done by either direct channel from wholesaler to retail outlets or indirect means where distributor agency with good reputations are promise to supply the products to the retailers. This will ensure the products are always available in the market and customers demands are met without shortage in supply.Recommendation for improving the marketing plan for the futureMarketing planning process is one of the factors considered when drawing a business plan and contributes significantly to the success since without sales, no returns are achievable. Marketing plans needs to be restored with all stakeholders consulted and given a chance to providing their opinions so as to ensure t he process is all inclusive to nullify making a decision without considering all factors. victor with adequate know-how on marketing planning process can be employed so as to provide guidance and technical know-how.Marketing plans needs to be revised regularly depending on the marketing liberation to avoid lagging behind as new technology and innovations arises. Plan needs to be simple, specific, achievable and attainable. Products need to be of high quality and meet the desired standards by the targeted customers. Pricing of the products need to be specific to be each market segments so as the products can compete effectively in the market. Promotion strategies selected should be one that will reach a larger market audience effectively and provide relevant information concerning the products.ReferencesBBC News 24 (2006) M&S Set to raise Fairtrade Range, Retrieved from http//news.bbc.co.uk/1/hi/business/4660410.stm, on whitethorn 15, 2007Brassington, F. and Pettitt, S. (2000) Principles of Marketing, 2nd Edn New York, scholar Hall, HarlowFill, C. (2002) Marketing Communications, Contexts, strategies and applications New York, Prentice HallKotler, P. Armstrong, G. Saunders, J. and Wong, V. (1999) Principles of Marketing, 2nd Edn, New jersey Prentice HallMcDonald, M. (2001) Marketing Plans How to prepare them, how to use the. 4th Edn London, Butterworth HeinenammMcDonald, M. (2001) Marketing Plans How to prepare them, how to use the. 4th Edn London, Butterworth HeinenammBBC News 24 (2006) M&S Set to Launch Fairtrade Range, Retrieved from http//news.bbc.co.uk/1/hi/business/4660410.stm, on May 15, 2007Brassington, F. and Pettitt, S. (2000) Principles of Marketing, 2nd Edn New York, Prentice Hall, HarlowKotler, P. Armstrong, G. Saunders, J. and Wong, V. (1999) Principles of Marketing, 2nd Edn, New Jersey Prentice Hall