Current Capabilities & Marketing Objectives-Samples for Students

Questions: 1.What legislations and regulations do you need to consider in a Marketing Plan? List 3 and explain. 2.How will you adjust your Marketing Plan in response to Stakeholders feedback? 3.What strategy will you use if gap exists between Current Capabilities and Marketing Objectives? Answers: 1.Various legislation and regulation should be considered in a marketing plan as follows; on the first is the warranties and the guarantees. The marketing professionals should pay a close attention when it comes to consumer guarantees that are covered in the Australian consumer law. These regulation are related to the marketing since they are described in the marketing to the customers before they can make a purchase. A specific when it comes to the law of Australia is that the vendors guarantee policy does not override on the guarantee protections which are provided by the Australian consumer law. Another legislation is that of privacy. Individuals are provided with privacy of the information protection under the law in the Australian Federal Government. The organization need to ask for the permission to collect as well as use their information, as well as obligation to disclose on the information that is to be kept private. Another legislation that needs to be considered is the adv ertising standards. In Australia it is the advertising standards Bureau which administers on the advertising self-regulation. On this regulation recognizes that the advertisers share the common interest when it comes to promoting of the consumer confidence and the respect for the general standards of the advertising. There is a free public service of the complaint resolution 2.When it comes adjusting on the marketing plan from the response given by the stakeholders it is important to implement a few things as follows; one is to establish a clear objectives. It is important to communicate the marketing goals in the context of the broader corporate business. I would establish some short and long term objectives including the metrics in order to evaluate the progress towards these objectives and incorporate on the feedback provided if they are within these objectives. The next way on how to adjust on the marketing plan would be to look at the piece of the feedback and be able to pinpoint what is falling short of the goals in the marketing plan. If the feedback is aligned towards the objectives formulated it would be necessary to draft a control and monitoring plan that is aligned with the initial plan. This would help control as well as monitor on the changes that have been made. 3.The strategy to use would be the competitive strategy. The competitive strategy is defined for a given business on which it would compete. It would hinge on the capabilities of the company, their strength as well as the weakness in relation to the characteristics of the market and the corresponding capabilities of the competitors. The competitive strategy aims at creating a defensive position when in the industry and it will enable the organization to generate a superior return of investment. Further, the strategy will play a role when the industry is competitive and the consumers are provided with the needs they want. In the process of creating of the marketing strategy to consider on my factors. This strategy will address on unique considerations, and it is not reasonable to identify on the significant factor at the generic level