Chapter 9: The marketing plan

Question 1

Marketing mix

Answer 1

the strategic tools an organisation uses to create value for customers and achieve organisational objectives.
- Originally consisting of the Four Ps (product, place, price, and promotion), there have since been efforts to extend the marketing mix to include other aspects of marketing as the field has developed.

Question 2

Marketing plan

Answer 2

a document, covering a particular period, that summarises what a marketer has learned about the marketplace, what he or she aims to accomplish through marketing efforts, and how.
- a roadmap of marketing action

Question 3

Marketing planning

Answer 3

the structured process of determining how to provide value to customers, the organisation, and key stakeholders by researching and analysing the current situation, including markets and customers; developing and documenting marketing’s objectives, strategies, and programmes; and implementing, evaluating, and controlling marketing activities to achieve the objectives.

Question 4

Objectives

Answer 4

goals to be achieved.

Question 5

Strategy

Answer 5

a structured plan for achieving objectives.

Question 6

SWOT analysis

Answer 6

a summary of the macro, market, and internal environmental audits according to internal strengths and weaknesses as they relate to external opportunities and threats.

Question 7

Marketing mix

Answer 7

The four p’s which is price, place, promotion and product

Question 8

Marketing plan involves:

Answer 8

1. Executive summary
2. current marketing situation = internal analysis, external analysis, competitor analysis and customer analysis
3. SWOT analysis
4. Opportunity analysis = STP
5. Objectives
6. Marketing strategy
7. Marketing programmes = marketing mix
8. Budget
9. Implementation= KPIs, monitoring and contingency

Question 9

Strategic marketing plan

Answer 9

deals with the total strategy in a market which include customers, competitors

Question 10

Operational/tactical marketing plan

Answer 10

deals with the marketing mix strategy

Question 11

Types of budgets

Answer 11

1. Top-down budgeting
2. Customer mix budgeting
3. bottom-up budgeting