Marketing Planning- Kit Kat Essay Example | Topics and Well Written Essays - 2000 words

Marketing Planning- Kit Kat - Essay Example Companies give substantial importance to the desires and wants of the potential customers. Marketing Plans in the current economic system always succeed in a free market economy. The prices of the goods and services must be determined by the free forces of market demand and supply. Any state of disequilibrium in the market would be stabilized automatically by the free forces of market mechanism. Companies often adopt â€Å"go to market† concept that helps organizations to achieve unique value proposition to their targets. These propositions depend on the way the company focuses on its investments and business solutions. This strategy usually responds to whom, what, how much, how and where a company would operate and cater its services. Q 1.2 Nestle accounts a sale of over 1 billion Swiss francs from 29 major branded goods manufactured under it (Dibb, 2001). It is a giant food producing firm generating about 339,000 employments in the economy. Its assets are now worth 126.22 bi llion as estimated in 2012 (Qin, 2010).. Jamal and Prahalad in 1996 stated that strategic planning is not strategic; the future is assumed to be more or less same as the present. The planning must be subversive. The top managers are most resistant to change and they fail to provide people different responsibilities to manage changes. The senior managers should observe activists as positive. The organizations must always use all their knowledge to discover the unconventional ideas. Business strategies can often give surprises. The business strategies must be democratic (Kew and Stredwick, 2005). Therefore in the context of Nestle, Kit Kat being a common chocolate produced by the company, the focus should be on product quality. The company must enhance its quality so that it can uphold its reputation in the current competitive chocolate industry Q 1.3-1.4 There are various techniques of organizational auditing. Out of the major techniques this essay concentrates on the PEST technique of organizational auditing (Strauss, 2010). It means it would concentrate in the Political, Economic, Social and Technological aspects that affect the business of Nestle featuring its product Kit Kat. The success of a marketing plan largely depends on the internal working culture of a business firm; like the precise relationships between the top managers and employees at different levels. If a firm maintains a good financial and accounting system then they are likely to introduce successful marketing plans. The level of research and development also influences the competitive power of a business firm. The resources and capabilities of a business firm largely influence the extent accomplishment of marketing plans. Image and brand equity are also important determinants of a good marketing plan. The essay will now hypothetically assume a case study about Kit Kat’s business in China. The country has a socialist market economic system; thus sate excise strong control over the acti vities of the private organizations. If the Chinese government increases the level of taxes in chocolates; the company may be forced to increase the selling price of the product and thus will shift the incidence of taxation on the consumers. In such a situation the demand for the product would fall. Rather tastes and preferences of the consumers are changing and buyers who are empowered are demanding more from the products. The country accounts for a growth of about 10% in terms of GDP, thus the