Transcript P4 - iTeach
P4
Marketing Planning
PESTLE
SWOT
SMART
objectives
Determining strategy
Implementing strategy
Evaluating strategy.
PESTLE
A business needs to carry out a PESTLE analysis
as part of the marketing planning process. This
will help it to understand the external
environment.
Political
Environmental
Social
Technological
Legal
Economical
SWOT
A
SWOT can be used to investigate the
marketing environment
Strengths
Weaknesses
Opportunities
Threats
SMART objectives
All
businesses set objectives, these can be
informed through the market research
carried out by a business
Specific
Measurable
Achievable
Realistic
Timed
Determination of strategy and
tactics- implementation
Marketing strategy includes selecting and analysing
the target market and creating and maintaining a
marketing mix that satisfies the target market and the
business.
A marketing strategy articulates a plan for the best
use of the organisations resources and tactics to
meet its objectives.
A marketing plan includes;
Executive summary
Situation analysis – SWOT
Company resources
Marketing objectives
Marketing strategies
P4
Using the companies website use the
information to;
explain what a PESTLE is and how it can be
used,
explain what a SWOT is and how it can be
used
explain what a SMART objectives are and how
they can be used
Set SMART objectives for your businesses
marketing.
Explain the measures your business can take to
evaluate their marketing plan.