do we have to formulate the strategies or action plan later to capture the identified opportunities
All marketing programs commence with a through situation and a SWOT analysis, i.e. evaluation of the current marketing situation, and an understanding of the opportunities that exist. Keeping this information in mind, a formal marketing strategy and action plan must be devised.
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You are required to complete a comprehensive Global Marketing Plan to exploit the opportunity identified in your earlier Situation and Opportunity Analysis for which you will have received feedback.
Instructions
The assessment should be written in report format
Every opportunity should be taken to graphically represent information where possible. However, take care to explain to the reader these graphical representations which will aide readability and enhance communication of the plan.
Commence with an introduction, stating the marketing objective/s of the plan (previously identified opportunity). Be specific, detailed and measureable as possible (you will need to explain this in a later section, whether the objectives have been fulfilled). Briefly discuss how the opportunity fits with the company’s overall mission and current business portfolio.
Define, describe and elaborate on the target market/s. Consider all aspects (cultural, demographics, consumer behaviour and industry structure where relevant)
Elaborate on aspect of the each of the marketing mix strategy linking customer needs and positioning
Elaborate on the strategic fit between the company’s capabilities, resources and opportunity being exploited
Create a brief implementation / action plan with a timeline
Outline measurement criteria- determination of achievement of objective and control strategies that have been employed.
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