Marketing programme –4ps Essay
All the elements of marketing mix are arrived upon and implemented in the broad framework of a marketing programme.. Therefore, to appreciate the relationship between the marketing planning process and the elements of the marketing mix, the various components of a marketing plan. are: description of the current marketing situation, i. e. , ‘where we are’ or situation analysis, identification of problems and opportunities in the situation, definition of objectives of the marketing plan, i. e.
, ‘where we want to be’, designing the marketing strategy, developing the marketing programme, and estimating the necessary appropriations, i. e.. budgeting, forecasting sales and estimating cost and profit contribution. Marketing planning, like any other planning process, is an intricate process and has to he done on a continuing basis. In other words, what is needed is constant monitoring, redefinition, adaptation, and re-evaluation of objectives and strategy, its implementation and control in an effort to obtain maximum payoff from ever-changing market situation.
There are other factors as well, besides the ones listed above which a marketer has to consider. The promotion mix is the particular combination of advertising, personal selling and sales promotion that is used in communicating with consumers. Generally, advertising is employed to reach
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Personal selling has a higher cost per contact, but is an intense form of communication — consumers usually find it more difficult to ignore or refute the arguments of a sales person than the persuasive appeals of an advertisement, the other two are not capable of attaining, but is generally supplementary to them. Sales persons demonstrating the use of particular items in stores can considerably enhance the effect of advertising upon consumers. Like other elements of the marketing mix, promotion should be aimed at the target audience rather than at consumers at large.
if target consumers are in upper-income groups.. If target consumers tend to be highly educated, promotion messages should be more sophisticated than when target consumers have low levels of education. Failure to consider the unique characteristics of the target consumer can result in ineffective promotional efforts Environmental Analysis A large part of the process of environmental analysis seeks to explore the unknown dimensions of the future which emphasizes on what would happen in the near future.
The factors which the environment comprises of Walmart’s environment are • Factors which influence environment directly including suppliers, customers and competitors • Factors which influences the firm directly including social technological, legal and economic factors. (Applied Microeconomics for Decision Making,1993) For doing the environmental analysis, there can be the strategic advantage profile which provides for analysis of internal environment, and the organization capability profile as well.
For analyzing the external environment, environmental threat and opportunity profile has been be adopted which was given scant regard in case pf Walmart. An organization has to continuously grow in term of its core business and develop core competencies. The analysis provides for elimination of alternatives which are inconsistent with the organizations objectives. Due to the element of uncertainty, environmental analysis provides for certain anticipated changes in the Walmart’s network which equipped itself to meet the unanticipated changes and face the ever increasing competition.
Walmart was able to identify the strengths of new technology and emphasize on them while Walmart continued to bank upon exiting resources to make profits. At the same time, it identified its weaknesses and exited the instant cameras business. Organizational threats and opportunities, strengths and weaknesses helped in identifying the relevant environmental factors for detailed analysis of the management. (Strategic Management: Competitiveness and globalization, 2001)