We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

What is Market Planning? Essay Sample

The whole doc is available only for registered users OPEN DOC
  • Pages:
  • Word count: 882
  • Category: market

Get Full Essay

Get access to this section to get all the help you need with your essay and educational goals.

Get Access

What is Market Planning? Essay Sample

Marketing planning is all about fixing objectives and goals for a business and making clear plans to achieve these goals. The process of marketing planning involves

* A PESTLE audit

* A SWOT analysis

* Setting smart objectives

* Determining strategies and tactics

* Implementing strategies and tactics

* Evaluate the effectiveness of marketing

During marketing planning process, businesses have to follow the PESTLE plan in order to reach their goals and purposes.

PESTLE stands for political economic and social technology legal and environmental influences

Political – this refers the extent at which the government takes action in in an economic situation, this could be during the recession. Business at that stage need to identify what they can do to reduce threat to their business out how they can make the most out of the situation


The economy of a place where a business operates can always affect the business whether it is abroad or nationally. When the economy in that place is affected by recession or prosperity, the business is also affected by these factors. So to face them, a business needs to take action and make plan to stay out of troubles.


This is more about the values and the beliefs of a country, these factor give useful information to businesses when they are trying provide services abroad for example. Some of these information include: incomes, gender and ethnicity.


We go through Technic development at least every months, and most of these new technology affects businesses. E-commerce is one of the ways in which technology has affected business. Thanks to technology, businesses are much more developed in modern days.


Legal development has always affected business and is continuing to do so, for example things like the data protection act heavily affects every business that relies on or uses customers’ data no matter its size or its kind. Another legal requirement that has affected business is the Smoking law. This has affect businesses like pubs and restaurants.


Environmental factors affecting businesses usually involves social, legal and political factors too. For example if a business is doing or producing something that the public doesn’t like, they are going to complain and eventually the government is going to do something about it by putting a law in place to stop them.

SWOT analysis explained

SWOT is a method used to examine the relationship between a customer and its marketing environment. SWOT stands for (strength, weakness, opportunity and threat)

Strength –

This refers to the advantages that a business has which gives them better than others. An example of that could be a really good IT within the business.

Weakness –

Weakness refers to the part or side of the business that is not as good compared to other businesses. This could be the lack of well trained staff in a particular area within the business (management)


This refers to any chances or opportunity from the outside that the business gets to develop. This could be a new area to promote their products or their services


This refers to anything that happens outside the organisations which could damage the performance of the business. These threats could come from anywhere, the government from example imposing new laws to businesses. Threats could also be from population for example, people complaining about products or services from the business.

Why should objectives be SMART?

Smart objectives –

* Specific – the objectives of the business must be as clear and as precise to be better achievable

* Measurable – it needs to measure its performance in order to track how well it is doing and if it would able to achieve its goal

* Achievable – the business objective must be fixed realistically for the business to be able to achieve easily

* Realistically – the business must be frank and truthful with its goals and aims. Businesses cannot fix goals they know they will not be able to achieve, this will affect their performances be bad for their future.

* Time – related – the objective of the business must have a time scale. Businesses must fix a time by which they believe they will achieve their goals. Businesses could be regarded as unreliable if they don’t meet their own fixated deadline.

What is strategy?

A strategy is selecting and analysing the market that the business is aiming at and making sure they maintain an appropriate marketing mix that will please the target market. A strategy is like an overall long term-plan businesses use to be successful.

What is tactics?

A tactic is more particular method a business uses to achieve short-term aim

What is implementation of changes?

Implementations of changes are factors that can affect marketing mix element of a business

Why marketing activity should be evaluated?

Marketing activity should be evaluated should be evaluated because it allows businesses to identify the way they are really performing towards a goal compared to what their plans was and then reduce any difference there is.

We can write a custom essay

According to Your Specific Requirements

Order an essay

You May Also Find These Documents Helpful

So you want to set up a...

In modern society small grocers are not very common, big shops and brands like Walmart or Tesco are taking over the world. The essay Once Upon a Shop is written by Jeanette Winterson, who is a British writer. The essay was first published the 13. June 2010. The essay is about Jeanette Winterson and her little vegetable shop, which is located in Spitalfields in the...

Red bull market

Red bull entered the US market in 1997 because it was a politically stable developed country. The company used a “cell” approach to divide the key markets into geographic segments rather than attempting a nationwide launch. The company’s first test market was Santa Cruz, a beachside town that was known for its active lifestyle through skateboarding and surfing and the University of California Santa Cruz....

Two types of markets

Prices in today’s market often fluctuate based upon two main reasons that we know of; supply and demand. But have you ever stopped to take a more in depth look into other reasonings behind price increases or decreases of firms. Firms do not just randomly decide to decrease or increase their prices of their products or services regularly. Barriers to entry are a big contributor to...

PepsiCo market position

PepsiCo is celebrated for the broad chomp and the refreshment age that the association focuses onto. The corporate procedure that the PepsiCo uses had engaged the widening of the things into the chomp and the pop pops business. Additionally, to age of the refreshments, the PepsiCo in like manner makes arranged to drink tea and coffee. PepsiCo had used improvement and merger securing system in...

Extra subsidizing and plans of repurchase

PepsiCo is famous for the expansive bite and the refreshment generation that the organization centers onto. The corporate methodology that the PepsiCo utilizes had empowered the broadening of the items into the bite and the soda pops business. What's more, to generation of the refreshments, the PepsiCo likewise creates prepared to drink tea and espresso. PepsiCo had utilized enhancement and merger securing strategy in the...

Get Access To The Full Essay
Materials Daily
100,000+ Subjects
2000+ Topics
Free Plagiarism
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
Sorry, but only registered users have full access

How about getting this access

Become a member

Your Answer Is Very Helpful For Us
Thank You A Lot!


Emma Taylor


Hi there!
Would you like to get such a paper?
How about getting a customized one?

Can't find What you were Looking for?

Get access to our huge, continuously updated knowledge base

The next update will be in:
14 : 59 : 59
Become a Member