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"Business plan"
Business plan
Leonard Herriman

To evaluate and analyse a "professionally made" marketing plan requires the evaluator, to very critically and closely point out the strengths of the plan, yet also point out parts of the plan that are irrelevant or are in need of improvement (weaknesses). Of course, as this is a professionally written marketing plan, the positive aspects of the plan will vastly out-number the negative aspects. In analysing this specific marketing plan we must also establish whether each of the elements of the plan are addressed adequately, and, if needed, offer suggestions for improvement to the plan.

The Marketing Plan for "T B S" is quite extensive, with many different sections.

Essential Elements of any Marketing Plan

There are certain aspects/elements that are integral to the success of a marketing plan that need to be addressed in great detail. These elements include:

· Situation Analysis

· Market Analysis (External and Internal)

· SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats)

· Establishing Market Objectives

· Identifying and Satisfying Target Market

· Developing Marketing Strategies

· Marketing Mix (Product, Price, Promotion and Place)

· Developing Financial Forecasts

"T B S" addresses all of these elements in their marketing plan. Now we must analyse to what extent each specific area has been addressed.

Situation Analysis

"The Situation Analysis looks at the market in terms of size and growth, needs of the target market and trends in buyer behaviour. The performance of products is examined and major competitors are identified and analysed."

The situation analysis for "T B S" addresses, in great detail, the area in which the retailer is situated. It mentions the growth in population of the area, and the locality of the "T B S" to large cities where consumers will be targeted. It also addresses some of the businesses competitors but does not go into much detail at all. The situation analysis therefore is not fully covered,...

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