Marketing planning models assignment

It analyses the macro environment concerning SLEPT factors, the Social, Legal, Economic, Physical/Political and technological concerns of a business and the external micro environment; the suppliers, customers, competitors and distributors. The internal audit focuses on decisions and whether the marketing actions and allocated resources are appropriate for opportunities and constraints (Brassington, F & S Pettitt, 2007, p426). When all aspects of the audit is complete a SWOT analysis is performed to assess the results. SWOT deals with the internal strengths and weaknesses and the external opportunities and threats.

The strengths and weaknesses concern the four P’s and the package offered to the public or target audience. It involves competition between companies especially when concerning price and quality i. e. a strength would be a lower price but a weakness if the price was lower due to competition forcing you to do so. The threats and opportunities focus more on the future, a company may look to get costs down (an opportunity) whereas competitors would see this as a threat. This analysis allows companies to find out where they are now, identifying what to do next.

This has a low share still but a high growth yet is still at its introduction stage. Establishing yourself further at this point has to be cost effective and successful for the product to become a star. The product now has a high growth and high share it is the market leader and can sustain itself, but it still needs high levels of support eventually the star may become the cash cow, the last dimension of the matrix. Not as much support is needed as the share is still high yet the growth would have tailed off.

These positions remain dominant. When analysing the practical use of such planning models to today’s marketing managers the marketing audit allow you to interpret aspects of the world that indefinately affect the product about to be marketed. It identifies the legalities concerning already existing products and government standards (I. e. with health and safety), evaluates the social demographics, public opinions and the economic situation of society before release.