Marketing Orientation and Marketing Planning Checklists
Name
Institution
Marketing Orientation and Marketing Planning Checklists
Marketing Planning代写 Market orientation and marketing planning are the two highly valued functions of the marketing department.
Conclusions/Implications/Actions Marketing Planning代写
Market orientation and marketing planning are the two highly valued functions of the marketing department. Establishing the balance in the elements that constitute marketing, in general, has been a challenge to businesses (Hanssens & Pauwels, 2016). Therefore, it is necessary for business organizations to evaluate and analyze its marketing orientation and marketing planning and identify areas of weaknesses and strengths for improvement.
In this regard, this paper will seek to evaluate marketing orientation and marketing planning using a set of questionnaires to its managers and employees. The results will then be analyzed and presented in a report critiquing the general marketing function of the company. The critique will be used to inform and bridge the gaps in the preparation and implementation of the marketing function of Terry White Chemmart Ltd.
Market Orientation Marketing Planning代写
Check List
Intelligence Generation |
|
| 1. In our organization, we meet with customers at least once a year to find out what products or services they will need in the future. | 1 2 3 4 5 √6 7
I disagree strongly I agree strongly |
| 2. In our organization, we do a lot of in-house market research. | 1 2 3 4 √5 6 7
I disagree strongly I agree strongly |
| 3. We rapidly detect changes in our customers’ product preference | 1 2 3 √4 5 6 7
I disagree strongly I agree strongly |
| 4. We survey end users at least once a year to assess the quality of our products and services. | 1 2 3 4 5 6 √7
I disagree strongly I agree strongly |
| 5. We are quick to detect fundamental shifts in our industry (e.g., competition, technology, regulation). | 1 2 3 4 √5 6 7
I disagree strongly I agree strongly |
| 6. We periodically review the likely effect of the changes in our business environment (e.g., regulation) on customers | 1 2 3 4 √5 6 7
I disagree strongly I agree strongly |
Intelligence Dissemination Marketing Planning代写 |
|
| 7. We have interdepartmental meetings at least once a quarter to discuss market trends and developments. | 1 √2 3 4 5 6 7
I disagree strongly I agree strongly |
| 8. Marketing personnel in our organization spend time discussing customers’ future needs with other functional departments. | 1 2 3 √4 5 6 7
I disagree strongly I agree strongly |
| 9. When something important happens to a major customer or market, the whole of the organization knows about it in a short period. | 1 2 3 4 √5 6 7
I disagree strongly I agree strongly |
| 10. Data on customer satisfaction are disseminated at all levels in this business unit on a regular basis. | 1 2 3 √4 5 6 7
I disagree strongly I agree strongly |
| 11. When one department finds out something important about competitors, it is quick to alert other departments. | 1 2 √3 4 5 6 7
I disagree strongly I agree strongly |
Intelligence Responsiveness Marketing Planning代写 |
|
| 12. It only takes us a short time to decide how to respond to our competitors’ price changes. | √1 2 3 4 5 6 7
I disagree strongly I agree strongly |
| 13. We hardly ever ignore changes in our customers’ product or service needs. | 1 2 3 4 5 √6 7
I disagree strongly I agree strongly |
| 14. We periodically review our product development efforts to ensure that they are in line with what customers want. | 1 2 3 4 5 6 √7
I disagree strongly I agree strongly |
| 15. Several departments get together periodically to plan a response to changes taking place in our business environment. | 1 √2 3 4 5 6 7
I disagree strongly I agree strongly |
16.Marketing Planning代写If a major competitor were to launch an intensive campaign targeted at our customers, we would implement a response immediately. |
1 2 3 4 5 6 √7
I disagree strongly I agree strongly |
| 17. The activities of the different departments in the organization are well coordinated. | 1 2 3 4 √5 6 7
I disagree strongly I agree strongly |
| 18. Customer complaints never fall on deaf ears here. | 1 2 3 4 5 √6 7
I disagree strongly I agree strongly |
| 19. If we came up with a great marketing plan, we probably would be able to implement it in a timely fashion. | 1 2 3 √4 5 6 7
I disagree strongly I agree strongly |
| 20. When we find that customers would like us to modify a service the departments involved make concerted efforts to do so. | 1 2 3 4 √5 6 7
I disagree strongly I agree strongly |
| 21. Overall, we are oriented to the market. | 1 2 3 4 5 6 √7
I disagree strongly I agree strongly |
Averages for Orientational Checklist
- Intelligence Generation: (6+5+4+7+5+5)/6 = 5.3333
- Intelligence Dissemination: (2+4+5+4+3)/5 = 3.4
- Intelligence Responsiveness: (1+6+7+2+7+5+6+4+5+7)/10 = 5
Intelligence Generation Marketing Planning代写
Generally, the company is not performing poorly in the Market Orientation function of marketing. Starting with the Intelligence Generation, Terry White Chemmart Ltd scored 5.3 indicating a fair performance. Intelligence generation is the point at which the company marketing starts. Although the company is performing well, there are areas that it needs to make improvements. First, the company needs to view market intelligence generation as a broader function which does not only focus on the customers needs but also the whole range of external environment (Kwak, Jaju, Puzakova, & Rocereto, 2013). Market intelligence gathering also involve political, legal, technology and more information that have impact to the company performance.
Regular meeting with the customers should be made an essential function of marketing as this gather the changes in their needs and preferences. It is part of marketing mix that seek to build customer brand loyalty (Pour, Nazari, & Emami, 2013). Also the company can know the issues which affecting its customers’ buying behaviors and respond accordingly. Through this mechanism can be formulated on how to create a lasting customer relationships.
The in-house market research should not only involve the customer’s orientation and the products perspective in the market Marketing Planning代写
But rather offer insight to factors affecting the customers from within the company. The marketing involves internal company environment and how they impact on the company market (Kuratko, Hornsby, & Covin, 2014). Such issues like customer services and care, internal politics, human resources, and more are vital in predicting how customers are satisfied and will be willing to come back (Hill, & Alexander, 2017). The internal environment also affects the quality of the of the product or service offered in the market. In a broader perspective, in-house market research should consider anything that might affect the company goodwill to customers and areas of improvement.
Furthermore, in carrying out the in-house market research, the responsible marketing department should include other departments as they may offer a better insight which might not be visible to the marketing experts (McDONALD, 2016). For instance, the product research and development section can provide advice on how to improve the product considering the aspirations of the marketing the department.
Managers from all the other department or representatives should take part in such in-house marketing meeting for their areas too can influence the marketing decision, for instance, the finance department determines the number of funds dedicated in sales and marketing. Generally, in-house market research should not only be a marketing department affair, but also all the other department should be involved.
Terry White Chemmart Ltd perform poorly in detecting for changes in customer needs and preferences. Marketing Planning代写
It means there are missing links in the intelligence generation function. Effective market intelligence is far beyond the current needs of the customers as it also includes the future needs and changes in preferences of the customers (Boso, Cadogan, & Story, 2013). The company needs to install mechanisms for detecting the changes in the currents needs and preferences of the customers as well as the future and a way to meet them. The futuristic orientation of the market makes it possible for the company to respond to the market needs faster and effectively. Additionally, the company can develop a response towards the changes in products needs which might take years of research and development, thus the need to detect the market need early.
Perhaps one of the essential functions of market intelligence is the ability to detect the changes in the market besides those of the customers. These changes include competition, regulations, politics, technologies and more (Beverland, & Lindgreen, 2016). These changes may not have a direct impact on the company but when they hit can cripple its operations. For instance, if a competitor launches a product which can be a substitute for the company product, it is a threat to the performance of the product in the market.
If the competition changes go undetected or the management become undeterred by it, the intensive marketing by the competitor may sway the current customer. Tremendously, the sales of the company may start dwindling. Therefore, it is essential to keep watch of external environment changes which if ignored might have an adverse impact to the company’s financial performance.
Intelligence Dissemination Marketing Planning代写
The company performed poorly in this function of marketing. It is a clear indication that, the company robust interdepartmental coordination which makes intelligence dissemination possible. The market intelligence dissemination states that for effective market response, there is a need to have the participation of all the other departments in the company (Julian, Mohamad, Ahmed, & Sefnedi, 2014). Basically, disseminated information should reach the research and development department to be able to respond by developing a new product, manufacturing department so that it can improve on their production levels and quality, purchasing department for sourcing new materials needs in production, finance department for funding of the new product or marketing needs, among others.
Communication is vital to the success of any progressive business. Marketing Planning代写
As such, for the company to adapt to market needs, the market intelligence must be communicated and disseminated or even sold to the relevant stakeholders for proactiveness (Atakora, 2013). Therefore, it is the responsibility of the managers to device a method or a tool of intelligence dissemination to the company stakeholders. One of such tools is the company newsletter or periodicals. Through the publications, the managers communicate the changes that the company anticipate as well as those that are being undertaken.
Also, such publications also aim at education and informing other managers on the role played by the marketing department and new market perspectives and innovations. Market intelligence dissemination needs to be effective as it provides a basis for concerted efforts by the various departments. To create effectiveness, the company need to establish a precise and formal business intelligence dissemination procedure (Elbashir, Collier, Sutton, Davern, & Leech, 2013).
It will allow discussions about the market needs which keep the company stakeholders tuned to the need of the customers. Moreover, the established channel of intelligence dissemination should allow informal talks between the managers which help illuminate more on the market needs especially about competition, customer changes, regulations, politics, and more. The small talks in the company create the awareness to the employees easily before official communications are done.
Intelligence Responsiveness Marketing Planning代写
This is the third element for evaluating Terry White Chemmart Ltd responsiveness to the market intelligence. When the company generates and disseminate the market intelligence, it needs to act towards the market findings. The company responds to market intelligence through target marketing, designing and offering a product that is in line with the anticipated needs and preferences of the market (Lee, Kim, Seo, & Hight, 2015). Additionally, produce, distribute, and promote the products that serve the need of the customers. According to the evaluation, the company has tried to be responsive to the market needs with a score of 5 which is above average. Although overall it has scored fairly, some areas need to improve for a better score.
The company scored poorly in responding to competitors prices changes. Marketing Planning代写
This is a risky trend as the product may face tough competition regarding prices. When a competitor lower prices of the product, the customer may shift from the more expensive product to save cost. Similarly, if a competitor increase price, the customer will prefer the low-priced products. The shifts in prices need quick responses before they have an adverse impact on the company products. In so doing, the company needed to lay ground on how to adapt to such changes through extensive marketing, promotions, and distribution.
Product value is communicated to the prospective customers through marketing and promotions. Besides promotion, Terry White Chemmart Ltd should aim to build trust and product loyalties through close relationships with the customers. Quick responses to changes in prices of competing products do not necessarily mean lowering the company product but a response that can communicate reason to the customers to continue buying the product at the current prices. Therefore, the company’s networks and closeness to the customers which creates customer loyalties that play key role in withstanding price wars in competitions.
Furthermore, Terry White Chemmart scored lowly in departmental coordination and meeting in response to the market changes. Marketing Planning代写
Perhaps marketing is taken the responsibility of the marketing department because little is done to have a joint meeting to forge the way forward in response to the market intelligence. The work of the market is a collective responsibility of all the department to coordinate and respond to the market needs. The finance department has the responsibility of funding new marketing innovations and new products; manufacturing department works to ensure that products are produced at required levels and quantity, research and development department work towards fulfilling the changes in the market through new product innovations, and more. When various departments come together, they come with a pool of ideas on how to respond to specific problems in the market which is rich, detailed and useful.
As a forward-looking strategy, the company needs to do better than the average score of 5. After improving the low scores in price responsiveness and departmental meetings for market planning, the company also needs to improve on others like business plan implementation and service modification to suit the needs of the market. The company should also maintain the high scores in a periodical review of the products to ensure they are in line with the customers’ needs, clear focus and orientation to the market, and response to significant changes by the competitors.
Marketing Planning Marketing Planning代写
Check List
1. We produce a written Marketing Plan 1 2 3 4 √5
2.Our Marketing Plan is produced annually 1 2 3 √4 5
3.Marketing Planning activity is part of the formal planning system in the company 1 √2 3 4 5
4.Our Marketing Plan starts with written objectives √1 2 3 4 5
5.Our Marketing Planning involves an audit of the company’s strengths and weaknesses 1 2 3 4 √5
6.Our Marketing Planning involves an audit of the opportunities and threats, we face in the environment 1 2 3 4 √5
7.Our Marketing Plan covers 3 to 5 years, not just the next 12 months 1 2 3 √4 5
8.Our Marketing Plan includes the plan for all elements of marketing, i.e. Products, Prices, Distribution and Communications; operations and sourcing; and personnel and financial requirements 1 2 3 4 √5
9.Our Marketing Plan includes far more than just sales targets and cost budget 1 2 3 √4 5
10.Our Marketing Plan includes financial estimates (revenue, cost, and profits) of the outcomes of our strategies 1 2 3 4 √5
11.Our Marketing Plan is presented to top management 1 2 3 √4 5
12.Our Marketing Plan involves substantial inputs from other functional departments – finance, production, personnel, etc 1 2 √3 4 5
13.Our Marketing Planning involves all senior managers in our marketing/sales organization 1 2 3 √4 5
and Marketing Planning代写
14.Our Marketing Planning uses experience and knowledge from our marketing/sales organization 1 2 3 4 √5
15.We give Marketing Planning adequate time & resources 1 2 √3 4 5
16.Good management performance in Marketing Planning earns the same rewards as good operational performance 1 2 3 √4 5
17.Marketing Planning is certainly not seen by managers as a meaningless ritual 1 2 3 √4 5
18.In our Marketing planning managers are rarely uncomfortable or ineffective in thinking and planning about the long-term future 1 2 √3 4 5
19.It would be unusual for our Marketing Planning to become just a struggle for resources – budget, headcount, moreover, so, on 1 2 √3 4 5
20.Managers are committed to Marketing Planning and could not be said to “go through the motions” 1 2 3 √4 5
21.Our Marketing Planning details responsibilities and the timing of actions to be taken 1 2 3 √4 5
22.Our Marketing plan is the basis of the allocation of resources throughout the period it covers 1 2 3 4 √5
23.Our Marketing Plan provides the basis for evaluation moreover, control 1 2 3 4 √5
24.Our Marketing Plan could never be said just to sit on the shelf unloved and unread – because it is constantly in use 1 √2 3 4 5
25.Our Marketing Plan is seen as one of the most valuable documents we have in the company 1 2 √3 4 5
Marketing Planning Profile Marketing Planning代写
Competition Analysis
This part analyzes the gap in the implementation of the marketing planning in the Terry White Chemmart Ltd. Competition analysis is a critical part of the company marketing plan (Armstrong, Kotler, Harker, & Brennan, 2015).The evaluation establishes the uniqueness of the of the product in the market and the attributes which make it sell as compared to the competitors. The strategy evaluates the competitors in groups of their impact on the company product and their market share.
Moreover, in the evaluation, the company analyze the competitors’ products/services, their profitability, growth pattern, marketing objectives, product strategies, organizational structure, and cost structure as well as their strengths and weaknesses as compared to the company. Essentially, the analysis is giving the company the ability to identify trends in the industry and align the company marketing strategies to the competition.
The questionnaire on the marketing plan revealed weaknesses and strengths in Terry White Chemmart Ltd. Marketing Planning代写
The company prepares a marketing plan on which its marketing strategies are based (Alkhafaji, & Nelson, 2013). In the part of the plan formalization, the company lacks clear objectives and does not make it a formal document on which marketing strategy is carried out. Therefore, it is evident that competition analysis is done in an ad-hoc manner. Lack of objective makes the company marketing disoriented. Although the competition is well analyzed in the in the plan, lack of implementation of objective makes it ineffective. Also, implementing the marketing plan informally makes its adherence by the marketing department optional. The deviation from the strategic plan can lead to marketing failure especially in the analysis of the industry competition.
Furthermore, Terry White Chemmart Ltd top management has not fully engaged itself to the responsibilities of preparing and implementation of the marketing plan. This affects the efficiency and effectiveness of the marketing strategy implementation. Additionally, the involvement of departments has been at the minimal. Marketing is a multidepartment affair, but in Terry White Chemmart Ltd, it has been left to the marketing department. Thus, most of the decisions made are not well coordinated and may end up becoming faulty. Also, enough resources and time are not allocated for the preparation and implementation of the strategy. The gap can lead to inefficiency of the marketing efforts thus waste of company resources.
Another gap observed is the mismatch of the management orientation with the planning of the marketing strategy. Marketing Planning代写
Consequently, they end up having little or no input in the preparation of the strategy for which they are the part. The marketing plan may end up shallow of insight into the market. Marketing is a composition of department contributions without which it becomes like a newsletter to the company. The participation of various department managers ensures that they own up the strategy as stipulated in the resultant plan and become committed to implementing it. Contrary, lack of involvement of departments in the organization delineate their sense of ownership and commitment in the process of strategy implementation.
Therefore, a clear regulation should be formulated to forge the procedure for the preparation and implementation of the marketing plan. This will ensure that departments if not all are actively involved in the marketing plan preparation and implementation. As such, they will own up the strategy as part and responsibility of the whole company rather than being left to the marketing department which by itself might not be fully effective.
Perhaps another challenge in Terry White Chemmart Ltd is the failure to use a marketing plan as a point of reference while striving to achieve the market leadership (West, Ford, & Ibrahim, 2015). In particular, the implementation of the competition strategy may be challenged for the lack of a clear definition of the competitors. As such, a marketing plan is not seen as a valuable document for the achievement of the company strategic marketing goals. The effect is an uncertain future in the market and lagged response to the market changes and needs. Moreover, the company may face stiff competition as it tries to adjust to the changes in the market.
A marketing plan is a vital tool of a company strategy to productivity, competitiveness, and growth in the market (McDONALD, 2016). Marketing Planning代写
Each component of the marketing plan needs to be analyzed and detailed to provide a rich image of the market. As for the focus of this report, competition analysis forms the basis on which the company understands it competitors and be able to position itself in the market relative to other product as it strives to take market leadership. Terry White Chemmart Ltd should take marketing planning seriously and try to fill the gaps in the preparation and implementation of the marketing plan.
References Marketing Planning代写
Atakora, A. (2013). Integrated Marketing Communication: How Can It Influence Customer Satisfaction?. marketing, 5(2).
Alkhafaji, A., & Nelson, R. A. (2013). Strategic management: formulation, implementation, and control in a dynamic environment. Routledge.
Boso, N., Cadogan, J. W., & Story, V. M. (2013). Entrepreneurial orientation and market orientation as drivers of product innovation success: A study of exporters from a developing economy. International Small Business Journal, 31(1), 57-81.
Beverland, M. B., & Lindgreen, A. (2016). Implementing Market Orientation in Industrial Firms: A Multiple Case Study¿. In Market Orientation (pp. 59-82). Routledge.
Elbashir, M. Z., Collier, P. A., Sutton, S. G., Davern, M. J., & Leech, S. A. (2013). Enhancing the business value of business intelligence: The role of shared knowledge and assimilation. Journal of Information Systems, 27(2), 87-105.
Hanssens, D., & Pauwels, K. (2016). Demonstrating the Value of Marketing. Journal Of Marketing, 80(6), 173-190. doi: 10.1509/jm.15.0417
Hill, N., & Alexander, J. (2017). The handbook of customer satisfaction and loyalty measurement. Routledge.
and Marketing Planning代写
Julian, C. C., Mohamad, O., Ahmed, Z. U., & Sefnedi, S. (2014). The market orientation–performance relationship: The empirical link in export ventures. Thunderbird International Business Review, 56(1), 97-110.
Kuratko, D. F., Hornsby, J. S., & Covin, J. G. (2014). Diagnosing a firm’s internal environment for corporate entrepreneurship. Business Horizons, 57(1), 37-47.
Kwak, H., Jaju, A., Puzakova, M., & Rocereto, J. F. (2013). The connubial relationship between market orientation and entrepreneurial orientation. Journal of Marketing Theory and Practice, 21(2), 141-162.
Lee, Y. K., Kim, S. H., Seo, M. K., & Hight, S. K. (2015). Market orientation and business performance: Evidence from franchising industry. International Journal of Hospitality Management, 44, 28-37.
McDONALD, M. A. L. C. O. L. M. (2016). Strategic marketing planning: theory and practice. In The marketing book (pp. 108-142). Routledge.
Pour, B. S., Nazari, K., & Emami, M. (2013). The effect of marketing mix in attracting customers: Case study of Saderat Bank in Kermanshah Province. African Journal of Business Management, 7(34), 3272-3280.
West, D. C., Ford, J., & Ibrahim, E. (2015). Strategic marketing: creating competitive advantage. Oxford University Press, USA.
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