Marketing Plan for Carroll's- An Irish Gift Shop in Dublin (Ireland) Contents Introduction: Using the Marketing Planning Framework
1. Executive Summary
2. Internal Marketing Audit Operating Results Strategic Issues Analysis Marketing Mix Effectiveness Marketing Structures and Systems
3. SWOT Analysis
4. Marketing Objectives Strategic Thrust Strategic Objectives
5. Marketing Mix Decisions Product Promotion Price Place
6. Organization and Implementation Marketing Planning Using the Framework The marketing planning framework is designed to provide a structured approach to the production of a marketing plan, It follows the stages of the marketing planning process outlined and discussed in The framework can be used in a number of ways including:
• Analysing cases that require the production of marketing plan. By following the process described here, a case study can be analysed to create a strengths, weaknesses, opportunities and threats (SWOT) chart. This can then be used to produce practical marketing recommendations.
• Enabling project work that requires a marketing plan to be completed. Project work may take the form of within-module assessment or a separate exercise conducted at the end of a marketing or management course. In both cases the template described here can assist the completion of the report by providing a logical structure to the data collection analysis and the formulation of recommendations.
• Facilitating in-company marketing planning. The framework is not an academic exercise that bears no relation to how marketing planning should take place in the real world. It has been tried and tested within companies and has proven invaluable in providing an easily applied structure to marketing thinking and analysis.
1. Executive Summary The executive summary describes the report's major findings and recommendations. It is designed to provide a busy reader with the major issues contained in the report. The executive summary allows the reader to gain insight to key outcomes without having to read all of the report. Bullet-points can be used to present the key points in the executive summary.
2. Internal Marketing Audit The internal marketing audit focuses on the activities and performance of the company in the light of the external marketing environment: It should cover an evaluation of the following four sections: • Operating Results • Strategic Issues Analysis • Marketing Mix Effectiveness • Marketing structure and systems Note that the information may not be available on all of the issues listed under each topic. Operating Results This covers operating results (by product, customer, and geographic region) for sales, market share, profit margins and costs. Strategic Issues Analysis Strategic issues analysis will answer the following questions: • What are our current marketing objectives? • How do we currently segment the market? • What is our competitive advantage (if any)? • What are our core competencies? • How are our products positioned in the marketplace? • How are products placed in terms of market attractiveness and company strength (portfolio analysis)? Each answer will be evaluated to produce strengths and weaknesses. Marketing Mix Effectiveness Each element of the marketing mix (product, promotion, price, place, people, processes, physical environment) will be evaluated in the light of the external marketing environmental analysis. Marketing Structures and Systems The marketing structures and systems of the company will be evaluated to identify what exists and its effectiveness. Marketing structures include marketing organization, marketing training, and intra and interdepartmental communication. Marketing systems include marketing information systems, the marketing planning system and the marketing control systems.
3. SWOT Analysis A SWOT Analysis is a structured approach to evaluating the strategic position of a business by identifying its strengths, weaknesses, opportunities and threats. It provides a simple method of synthesizing the results of the marketing audit by summarizing the company's strengths and weaknesses as they relate to external opportunities and threats. Strengths and weaknesses will derive from the internal marketing audit analysis. Opportunities and threats will derive from the external marketing audit analysis.
4. Marketing Objectives As a result of the marketing audit and SWOT analysis, relevant marketing objectives will be set. Two types of objectives need to be considered: strategic thrust and strategic objectives (see the next two sections). Strategic Thrust Strategic thrust defines which products to sell in which markets. The options are existing products in existing markets (market penetration or expansion), new/related products for existing markets (product development), existing products in new/related markets (market development) and new/related products for new/related markets (entry into new markets). Strategic Objectives Strategic objectives for products need to be set. The options are build sales and market share, hold, harvest (improve profit margins) and divest (drop or sell product). Core marketing strategy involves the achievement of marketing objectives through the determination of target markets, the setting of competitor targets and the creation of a competitive advantage (see the next three sections).
5. Marketing Mix Decisions By defining a target market and understanding the needs of their consumers/organizations, a marketing mix can be created to meet those needs better than the competition. Decisions have to be made regarding product, promotion, price and place. Product Product decisions involve choices regarding brand names, features (that create customer benefits), quality and design, packaging, warranties, and the services that will accompany the product offering. Promotion Promotion decisions involve choices regarding advertising, personal selling, direct and Internet marketing, sales and promotions and public relations. See chapters 17, 18, 19. Price Pricing decisions involve choices regarding list price, discounts, credit terms and payment periods. Place Place decisions involve choices regarding the distribution channels to be used and their management, the location of outlets, methods of transportation and inventory levels to be held. People People are an integral part of a service business offering and staff and customers need to be designed into the service. People decisions involve selection and recruitment, training and development, motivation and reward. Processes Processes are all the activities that a service organisation engages in to deliver the service offering comprehensively, consistently and efficiently. Blueprints can be used to describe the service process and industrialising and de-skilling can contribute to improved efficiencies, but beware sacrificing quality in the process. Physical Environment Service purchases are risky and there are often very few tangible cues. Physical evidence provides some indicator of the service and its quality. Examples of tangible cues are design of buildings, staff uniforms, and brochures.
6. Organization and Implementation A marketing plan needs a marketing organization to implement it. Reorganization may mean the establishment of a new marketing structures (e.g. brand management) or the creation of a marketing department for the first time. Consideration should also be given to implementation issues. These focus on who is responsible for various activities, how the strategy should be carried out, where things will happen, and when action will take place. Further some more points are needed to be included in the assignment, the documents and details of this points are included in the document attached below, please do include this points in the assignment as well. as this are the points which are compulsory and important as the professor has told to include this points in the assignment. The company which we have chosen for this subject is " Carroll's" which is an Irish Gift Shop in Dublin (Ireland) and we are focusing on a single shop which is located in O'Connell Street in the main city center of Dublin in Ireland. Please do mention about that, as we have to focus on only that particular shop for the marketing plan of "Carroll" which is an Irish Gift Shop in Dublin (Ireland).