Wednesday, July 24, 2019

Marketing planning Assignment Example | Topics and Well Written Essays - 2750 words

Marketing planning - Assignment Example The company is planning to expand its base. For this company will has started analyzing the market and choosing one product which the company will be promoting in the initial phase of the expansion. Task 1 The current business environment is constantly changing. The market is facing volatile changes which are affecting the overall planning of the companies as well. Thus, it is very important for any organization or organizes a proper and strategic marketing planning in order to survive and sustain in this volatile environment. A proper marketing planning is always helpful in properly organization activities and strategies used for future action. Marketing planning can be described as analyzing potential market places and marketing activities with the aim of determining how a business can optimize these potential markets. Planning process has changed over the years. For example, the planning process was much less competitive during the last century. The current market is ever changing and flooded with a large number of new products and services on a daily basis. Today’s consumers have much more options in terms of choosing between similar products and categories, compared to 10-15 years ago. This has also decreased the brand loyalty among consumers. To remain competitive in the current market, the food chain has to constantly update its marketing planning according to changing internal as well as external environment. In order to cope with the volatile environment, it is very important for the organization to have sustainable resources. Below is the resource based view of the organization. Tangible Resources Infrastructure, warehouse property and design of the chain of restaurants constitute the physical resources of the brand. Apart from these, the organization also has products such as brewing machines, facilities such as transportation and logistics. Though the organization does not boast a high financial resource, the company is fast growing and more and more investors are turning their head towards this newly popular organization. The organization can utilize this opportunity by collaborating with other investors as well as companies and grow its base in local as well as international locations. Intangible Resources The organization has created a powerful brand image and come a long way from the time it was established. Because of the increase brand image as well as overall brand equity, the organization has successfully created a niche in the fast food market. As a result, the market base of Eat Limited is continuously increasing. Apart from this, the organization has maintained a cordial relationship with its shareholders and other investors. This is helped in building overall trust among the investors and shareholders. Product diversification, service quality and availability of the brand in the major locations have made Eat Limited a local leader in affordable and quality fast food service provider. Research, development, m arketing capability and creativity in new generating new products has provided a differentiated advantage for the brand. Apart from this, efficient and well trained human resource is strength for the organization. Capabilities Determining the capabilities and key resources of an organization is the fundamental starting point of any business strategy. The utilization of a company’s capabilities and resources with the aim of gaining competitive advantage defines the objective of resource management. According to

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