Midlands State University

Bachelor of Commerce Honors Degree in Business Management

NAME REGISTRATION NUMBER

MEMORY MATUTU R1711625E
MOLLINE KAMWANDA R181354B
GEORGE CHIOMBA R181359X
LEVITA CHENERA R181258R
MIRIAM CHARLOT MARAWO R181310G
ELIAS MURASHIKI R182126Z
DADIRAYI .Z. NEVI R181804W
MPABALO MATSHAKA R181277X
RICHARD CHITANI R1710885B
BILLIART KANYANGIDZE R181518J
RUVIMBO R MUSHANINGA R181014W
STEMBILE F MUGWAGWA R181995B
NOMUSA MUNYEPWA R17110893A
BERNICE ZIMUNYA R1710817Q
EVERJOY ZINDOGA R182481T
MERCY MUTANDA R182009R
RODGERS MUNGOFA R181458N
TANYARADZWA L. HOSHIWA R181163Q
RUMBIDZAI MUGUVU R1711531E

MODULE – SMALL BUSINESS MANAGEMENT – BM 202

LECTURER – MS MOYO - MUPARURI

Explain the features of Marketing Planning

Answer
To grow one’s business one needs a market plan to identify everything from who the target
customers are, how to reach them, how to retain the customers so that they repeatedly buy
from the business. Marketing plan will be a road map to get unlimited customers and
dramatically improve the success of the organisation.

A marketing plan is a blueprint that highlights the steps to achieve the company’s marketing
objectives.

Features of the Market plan are:

1. Goal setting
Goal setting includes the mission statement and corporate objectives
A mission statement is a meaningful statement of the purpose and direction of the
business.
Corporate objectives are the overall business objectives that shape the marketing plan
for example when ZBC intends to increase their viewership they change their
programme content to suit viewers’ preferences.

2. Analysing the current situation

Analysing the current situation consists of three elements which are marketing audit,
swot analysis and marketing assumptions.
Marketing audit assesses the situation of marketing in the business that is the product,
resources, distribution methods, market shares and competitors.
Market analysis is dividing the market into groups based upon variables such as age,
sex, family size, income.
Swot analysis is an assessment of the firm’s current position of internal and external
factors for example ZBC has DStv as a threat as people may prefer to watch it rather
than ZBC and the strengths of ZBC over other broadcasters are that it broadcasts
using vernacular languages and is cheaper compared to DStv.

3. Creating marketing Strategy

This defines how an organisation competes in the market place through the
development of objectives. It is a long term, forward looking approach to planning
with the fundamental goal of achieving a sustainable competitive advantage.
Marketing strategy is reserved for actions aimed directly at altering the strengths of
 the organisation relative to that of its competitors. Marketing strategy focuses on
making sure that products and services meet customer needs and developing long
term relationships with those customers.

4. Marketing Budget
This is an estimated projection of costs required to promote a business products or
services. It is usually detailed to cover for the next year and an outline budget for the
next 2-3 years. It includes promotional costs like advertising, public relations,
employing staff. The budget is created to estimate the costs that are necessary to grow
a business.

5. Action plan
The detailed implementation plan, activities that must be performed well to execute
the plan successfully.it is a process on its own that turns strategies and into actions in
order to accomplish the objectives and goals

REFERENCES
www.potential.com
www.tutor2u.net/business/references/marketing-planning-overview
www.open.edu-content