Individual assignment Example | Topics and Well Written Essays - 2000 words

Individual - Assignment Example The company operates based on a plethora of global brands thereby endeavouring to touch each and every aspect of the lives of its global consumer force. Under its global umbrella Unilever tends to embrace brands pertaining to product categories ranging from consumer foods to other non-durable products relating to skin and fabric care. On an average the company with the use of its total 400 different brands tends to enhance the living of around two billion people around the world (Unilever, 2012). Hindustan Unilever Limited operates as a subsidiary of Unilever pertaining to the Indian market. The company encompasses the lives of the Indian consumers through its operation based on around 35 brands covering different product categories ranging from food to consumer non-durables pertaining to skin, hair, fabric care and also wellness products. Unilever which has a 52 percent stake in Hindustan Unilever accounted for â‚ ¬46.5 billion where its Indian subsidiary accounted for Rs. 21,736 Crores relating to annual sales for the financial year 2011-12 (Hindustan Unilever Limited, 2012). Description and Analysis of Principles and Practices of Strategic Marketing Planning-800 Strategic Marketing Planning The strategic marketing planning contains a set of principles and practices required to be followed by a company initiating with defining the objectives and the mission of the company. Further the marketing planning should also render an overall view of the respective market along with reflecting on the financial potential of the concern. The company having gained a rough overview of the market and thereby highlighted on its marketing objectives must focus on conducting a set of internal and external audits. Through the use of Internal Audit the firm can conduct an effective analysis to understand and reflect on its key strengths and weakness in relation to the opportunities and threats reflected in the external environment. Along with the same the company is also requ ired to make forecasts at least for coming three years relating to its revenue and sales paradigm and thereby allocate financial and other resources for its effective accomplishment. Similarly the external audit function of the company must endeavour to focus on the macro environment of the firm relating to its social, economical, political, legal, technological and natural environment. This external audit conducted would help in reflecting on the market acceptability of the products and policies rendered by the company based on the current and future status. With the help of the audit conducted the firm can gain adequate knowledge of the marketing and environmental situation of the firm based on which strategies can be formulated. Strategic formulation holds to be a significant exercise in this direction where the management body of the firm in the light of the situational demand tends to reduce the prices of products or renders discounts and coupons to gain market penetration. Sim ilarly the company can also focus on introduction of new products and thereby relate potential