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Internal Marketing Plan influences
- Finance available
- Operational issues - location of the shops, availability of suppliers, quality imagew matching quality production
- HRM - effective recruiting with the right skills
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External Marketing Plan Factors
- Competitors
- Quality of market research
- Technology changes
- Political factors
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Benefits
- Provides clear sense of direction for marketing management. Ensures people are aiming for the same goals
- Marketing options are evaluated and prioritised
- Allocates scarce resources more effectively
- Encourages coordination with other functional areas (finance, ops & HR)
- Provides a basis for assessing actual results
- Makes marketing dept responsible
- Motivation tool if given responsibility
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Drawbacks
- Can be time-consuming
- Constant change in the market makes assumptions difficult
- Danger of either being too simplistic or too complicated
- The plan can be ignored as circumstances change e.g. recession
- Plan may be too ambitious
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Evaluation
- Market reaction to new market
- Is there sufficient research to deploy the new strategy
- Short term vs Long term
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