Marketing Strategies and Innovations Literature & Language Essay (Essay Sample)

Marketing Strategies and Innovations
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Contents TOC \o "1-3" \h \z \u Assumption PAGEREF _Toc42186146 \h 3Marketing objectives and strategies PAGEREF _Toc42186147 \h 4Estimating expected results PAGEREF _Toc42186148 \h 5Identify alternative plans and mixes PAGEREF _Toc42186149 \h 7Product PAGEREF _Toc42186150 \h 7Price PAGEREF _Toc42186151 \h 7Place PAGEREF _Toc42186152 \h 8Promotion PAGEREF _Toc42186153 \h 8Budget PAGEREF _Toc42186154 \h 81st year detailed implementation program PAGEREF _Toc42186155 \h 9Bibliography PAGEREF _Toc42186156 \h 10
Strategic planning for Vodafone
Assumption
During the planning process in any organization, there is an evaluation conducted on the possible impacts the strategies focused on may have on the business. It results from a SWOT analysis that is conducted by those who are involved in the strategic plan especially the mangers and other stakeholders in a business (Arend et al., 2017). This is done to ascertain whether the strategies put in place will help accomplish the intended outcome or not. Many researchers have postulated that strategic planning is a method of ruling over uncertainties and manage untested beliefs in the business world. Assumption can be defined as activities, events, or occurrences that are believed to be influencing the business in one way or the other but are not tested and proven to be true (Oliveira & Hersperger, 2018). Assumptions are key when forming strategies but vetting is conducted on the underlying assumptions to ensure that the planning tams do not assume promising scenarios that are favorable for the business case. This is a perceived view of the market as per the competitors regarding the organization’s strengths and weaknesses.
Vodafone has a strategic plan to capture the potential of mobile to bring socio-economic values through access to communication (Danso, 2016). While putting this strategic plan into consideration, this organization considered various assumptions both in the operations systems and within the market to be served. One of the assumptions that Vodafone must have put in place I that there is no other company somewhere which is also focusing on the same area of service within the same market (Şeitan, 2018). Furthermore, Vodafone believes that by bringing on proper ways to access communication, the social and economic values within the targeted market will be enhanced. These kinds of assumptions are considered when planning and make the basis of the strategic plan for the market and the project to be undertaken by Vodafone.
Marketing objectives and strategies
This involves researching the market to identify what exactly are the needs of the target audience with regards to the area of planning. After this kind of identification, the product is designed as per the market needs. But ensuring all these do not mean that the product will find popularity in the market by itself, marketing strategies and objectives must be considered within the strategic plan (Vishnevskiy, Karasev & Meissner, 2016). The marketing team has to conduct market research to come up with various ways that can be incorporated within the strategic plan to help in the new products' campaign once the product is launched to be old in the market.