Situation Analysis in Marketing Plan Essay - 1585 Words

Introduction Under the competitive and dramatically changing environment, some companies are successful but some are failed. Considering the reasons are various, however, offering the right products for the right growth markets at the right time is the key factor for some of the successful companies. Chinese idiom says ‘know the enemy and know yourself, and you can fight a hundred battles with no danger of defeat’. Hence, the company must make marketing plan systematically, in terms of its objectives and missions, if it pursues maintaining a high level of operating efficiency, and achieving above-average returns. The role of situation analysis Situation analysis is an essential first step in the process of marketing plan. Jain†¦show more content†¦Political/legal segment Political/legal trends have a significant influence on marketing strategy. For example, in order to protect environment and advocate using fabric bag, Chinese government states plastic bag is not free for the public recently. In addition, new trade relationship or barriers affect firm’s volume of trade. With a free trade agreements (FTAs) between Australia and the United States comes into play, most of Australian exports to the United States will be duty free. Hence, the marketing manager needs to reactive the changes in both domestic and foreign policy/trade law, and the industry regulations/agreements favored by elected officials. Furthermore, marketing manager needs to select recent information to keep in touch with political/legal trends. Technological advancements With the rapid development of technology, it is found that early adopters of new technology often achieve higher market shares and earn higher returns. (Hanson Dowling, 2005, p. 58) There is no doubt that if a firm’s technology is superior to anything else on the market, it will be the leader in identifying and introducing new applications for the technology. For instance, Microsoft Company, which is the No.1 Company in IT industry, introduces new system (Windows Vista) to the public last year. The company claims Windows Vista makes it easier to see, hear, and use computer than previous system did, which attracts moreShow MoreRelatedMarketing Plan -- Situation Analysis1632 Words   |  7 PagesThe role of situation analysis in marketing plan Facing to more complex business environment, systematically marketing plans are important to organizations in terms of maintaining a high level of operating efficiency and achieving goals fully. According to Sally and John (1996:3), marketing plans are â€Å"the written document or blueprint for implementing and controlling an organization’s marketing activities related to a particular marketing strategy† (Sally, D., Lyndon S., John, B., 1996: 3). ARead MoreThe Role of Situation Analysis for a Marketing Plan1485 Words   |  6 PagesSituation analysis becomes increasing important for a marketing plan development. This essay aims to explain why it is so important and what factors it focus on and finally, a guild list is present and justify for the construction of an effective situation analysis for a Marketing Plan of J Boag Son Brewery. Analyzing situation prior a strategic decision is critical for generating or sustaining competitive advantages, especially when facing the dynamic environmental trend which can affect corporations’Read MoreThe Marketing Handbook Critique762 Words   |  4 PagesThe Marketing Plan Handbook Written by Alexander Chernev In The Marketing Plan Handbook, Chernev gives a simplified approach to writing marketing plans. It outlines the basic principles of writing a marketing plan and it puts emphasis on marketing as a value-management process. It incorporates the relevant aspects of the business, such as the financial, operational, technological and organizational aspects. 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A marketing plan is a written document that summarizes what the marketer hasRead More5c Marketing1295 Words   |  6 PagesSituation analysis From Wikipedia, the free encyclopedia Jump to: navigation, search Situation analysis refers to a collection of methods that managers use to analyze an organizations internal and external environment to understand the organizations capabilities, customers, and business environment.[1] The situation analysis consists of several methods of analysis: The 5Cs Analysis, SWOT analysis and Porter five forces analysis.[2] A Marketing Plan is created to guide businesses on how toRead MoreMarketing Plan827 Words   |  4 Pagesï » ¿Marketing Business Environment Marketing Planning: An Overview of Marketing 6 main questions to ask in order to create your marketing plan: 1. Where are we now? (Business Mission, Marketing audit, SWOT analysis) 2. How did we get here? (Business Mission, Marketing audit, SWOT analysis) 3. Where are we heading? 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