Marketing Planning Essay Example | Topics and Well Written Essays - 1500 words - 1

Marketing Planning - Essay Example The marketing planning is thus required to first inspect the mission and vision objectives in the light of data obtained from changing external scenario through conducting marketing surveys. Use of information technology is also considered as an effective tool to gain potential data about changes in consumer preference patterns. With such data in hand analysis should be made pertaining to the internal strengths and weaknesses of the concern to help counter the external changes. Further the marketing plans for a company are required to encompass several strategic models to analyse the potential of the company in gaining on in changing market opportunities. Similarly the product, pricing, distribution and communication strategies need also be developed to effectively penetrate the consumer sphere. Finally owing to the changes being brought in the strategic marketing sphere the company needs to design an effective budget to help meet the needed changes. The business corporation is also required to render effective controls over the activities and modifications brought about in the managerial implications to render effectiveness in meeting changed objectives (Neves, 2003, p.9-10). An evaluation of Nokia’s capability for future marketing planning (LO 1.2) Nokia to compete in the international gaming market and thereby to counter competitive threat from companies like Sony and Nintendo came out with a product development venture. The product developed was named as N-Gage which penetrated the consumer gaming market through working on high quality gaming software. However the initial product was launched in the market by the company without conduct a pre-test of consumer and market ideologies. N-Gage in the initial stage gained a rapid market acceptance for having highly innovative features that at that time exceeded expectations of the consumers. However of late Nokia started facing criticisms from the consumer sphere in that they wanted a more customised gamin g product that wound render larger number of gaming variants at highly affordable prices. Again, the N-Gage failed to satisfy the communication features of a phone for it required to be held in a lateral position to the face while talking which made the whole process quite cumbersome. Nokia honoured the criticisms from the consumers and thereby focused on designing and modifying the N-Gage into N-Gage QD. This product launched reflected a better battery life with a wide and bright screen. It also reflected better controls over the game by the consumer. However the initial failure of Nokia to gauge the needs and desires of the consumers led the other competitors to design and modify their own products and this led in enhancing the competitiveness of Nokia in the gaming market (Parasuraman, Grewal and Krishnan, 2009, p.6). Details of techniques for organisational auditing and analysis of external factors that may affect marketing planning (LO 1.3) Techniques for Organisational Auditin g Organisational auditing is conducted by an auditor through some specific techniques or