the contents of a marketing plan: objectives, resources, research and marketing mix

8.2 Marketing strategy – Planning the marketing strategy

🎯 Objectives

Think of objectives as the destination on a road trip. They tell you where you want to end up.

  • Specific – e.g. increase market share by 5% in 12 months
  • Measurable – use numbers or percentages
  • Achievable – realistic given resources
  • Relevant – ties to overall business goals
  • Time‑bound – set a deadline
Exam tip: When answering, always use the SMART framework. Show each element clearly.

🛠️ Resources

Resources are the tools you need to reach your destination.

  1. Financial: Budget for advertising, promotions, staff.
  2. Human: Marketing team skills, training needs.
  3. Technological: CRM systems, analytics tools.
  4. Time: Allocate realistic timelines for each activity.
Exam tip: Show how you will allocate the budget across the 4 Ps. Use percentages or amounts.

🔍 Research

Research is like a detective gathering clues before you plan your strategy.

  • Market research: Size, growth, trends.
  • Competitor analysis: Strengths, weaknesses, positioning.
  • Consumer insights: Needs, wants, buying behaviour.
  • SWOT: Strengths, Weaknesses, Opportunities, Threats.
Exam tip: Use the SWOT matrix to summarise findings. Highlight how research informs each P.

📊 Marketing Mix (4 Ps)

P What to decide Example
Product Features, design, brand, packaging. Apple iPhone – sleek design, premium materials.
Price Pricing strategy, discounts, payment terms. Subscription model – monthly fee with free trial.
Place Distribution channels, retail, online presence. E‑commerce + flagship store in city centre.
Promotion Advertising, PR, sales promotions, digital marketing. Social media campaign + influencer partnership.
Exam tip: Link each P back to the research findings and objectives. Show how they support the overall strategy.

Revision

Log in to practice.

13 views 0 suggestions