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MARKETING PLANNING

Introduction and Background                                                                    

Marketing is regarded as vital element in the overall business process, as it widely contributes in the success of business (Loudon et al., 2004). Production and distribution that are significant elements of organization largely depend on the effective marketing planning of organization (Dahlén et al., 2010). Considering the significance of marketing planning for the success of any organization, this paper aims to evaluate the marketing as vital element of management process. In this respect, this paper presents the marketing planning for product of Nestlé Corporation that is Kit Kat Chunky Chocolate. 

Nestlé as leading company with its base in Switzerland has been offering more than 500 products around the world (Czinkota& Ronkainen, 2007). Amongst all product line of the company, Kit Kat Chocolate has been the most renowned chocolate brands in the world (Gitman& McDaniel, 2008).

  1. L.O. 1 Be able to understand the meaning and role of marketing in achievement of organizational objectives                                                              

1.1  Explain marketing as a management process        

Marketing is regarded as considerable aspect of management process and taken into account as primary responsibility of organizational management to commence marketing through marketing planning and activity (Loudon et al., 2004). This process is undertaken through creating customer driven environment that helps in developing marketing activities within any organization (Peter& Donnelly, 2005). Hire professional assignment writing service.

1.2  Describe the role of marketing in identifying and predicting the needs of current and potential stakeholders

Stakeholder is defined as person holding stake in the organization operational activity (Freeman, 2010). Expectations of stakeholder change with the nature of stakeholder whereas important stakeholders within any organization are customers, investors, employees, and government. Through marketing planning, organization stakeholders are identified in terms of being affected by the specific project. Marketing project of an organization identifies stakeholders as project sponsor, project leader and project team, project customer and project management. Therefore, marketing is defined as process through which, adequate exchange between the company and stakeholders occurs. This exchange allows the organization to gain the understating about the needs and expectations of stakeholders (Dahlén et al., 2010). The following table identifies the stakeholders’ needs and their expectations as a result of the project proposed in this paper for the Nestlé Corporation.   In the below table, it can be seen that each stakeholder has different needs and expectations from the project.

Stakeholders

Needs and Expectations

Project Customers

Quality products and environmental friendly packaging for chocolate products

Project Sponsor

Maximum sale with the gain of profit through value added production

Project Management

Return for resources spent on the project

Project Leader and Team

Successful accomplishment of the project

Project Staff

Increase salary and more facilities

1.3  Describe the benefits of cost benefits analysis and how this analysis is applied in your work area

Cost benefit analysis is defined as method through which evaluation is made to estimate the value of project (Mishan& Quah, 2007). Through the utilization of cost benefit analysis, it is determined whether project outcomes will bring about bounties after successful undertaking of project activity. The significant benefit of CBA is that it is the easiest way to estimate whether benefits outweigh the cost (Brent, 2008). It further provides with accurate approximation on the basis of estimated outcomes of the project. However, its strength lies in the comparison of cost and benefits by means of equal terms. Thus, accurate estimation through CBA provides a suggestion of net cost of or benefit of particular area (Mishan& Quah, 2007).

In performing marketing planning project, CBA can help by indicating and determining the planned activity that will cause benefit against the cost. In this way, marketing planning project entailing different marketing activities is evaluated for their benefits to the organization in relation to marketing of the product (Loudon et al., 2004). 

1.4  Consider the principle of trying to secure competitive advantage for your products or services

The principles of securing competitive advantages are mainly classified into product implementation and system implementation (Nilsson& Rapp, 2005). Under product implementation, product can be created, enhanced and differentiated to create competitive advantage. On the other hand, under system implementation, cost reduction strategy, alliances and creating market barriers can be used (Jackson et al., 2003). 

1.5  Describe how you gain information on competition or similar organizations

In order to secure competitive advantage for the Nestlé Kit Kat product, it is important to create edge over the competitors of the organization. In this way, competitive advantage can be secured through creating differentiation in the products of the company (Czinkota& Ronkainen, 2007). The advantage of creating product differentiation can help the Nestlé Corporation to gain competitive advantage over competitors such as Hershey’s Chocolate, Mars, Dove, Cadbury and Ferrero Rocher. However, creating and enhancing the products can be effective way of securing the competitive advantages in terms of introducing new products with new features (Czinkota& Ronkainen, 2007). Furthermore, cost strategy can also be effective for Nestlé, as through cost reduction strategy, Nestlé can have increased sale of products. 


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