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Why Is Marketing Planning Necessary?

Marketing planning is necessary for several reasons: 1) It allows companies to systematically think about the future and better coordinate their efforts. 2) It helps develop performance standards to control marketing activities and sharpen objectives and policies. 3) It helps managers better prepare for new developments and gives them a sense of participation.

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44 views

Why Is Marketing Planning Necessary?

Marketing planning is necessary for several reasons: 1) It allows companies to systematically think about the future and better coordinate their efforts. 2) It helps develop performance standards to control marketing activities and sharpen objectives and policies. 3) It helps managers better prepare for new developments and gives them a sense of participation.

Uploaded by

api-3708723
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Why is marketing planning

necessary?
• Systematic futuristic thinking by management
• better co-ordination of company efforts
• development of better performance standards for
control
• sharpening of objectives and policies
• better prepare for sudden new developments
• managers have a vivid sense of participation
Criticisms of marketing planning
• Formal plans can be quickly overtaken by
events
• Elements of the plan my be kept secret for
no reason
• gulf between senior managers and
implementing managers
• the plan needs a sub-scheme of actions
Objectives of the marketing plan
• Acts as a roadmap
• assist in management control and monitoring the
implementation of strategy
• informs new participants in the plan of their role
and function
• to obtain resources for implementation
• to stimulate thinking and make better use of
resources
• Assignment of responsibilities, tasks and timing
• Awareness of problems, opportunities and threats
• Essential marketing information may have been
missing
• if implementation is not carefully controlled by
managers, the plan is worthless!
The contents and structure of the
marketing plan
• The executive summary
• table of contents
• situational analysis and target market
• marketing objectives
• marketing strategies
• marketing tactics
• schedules and budgets
• financial data and control
Cautionary notes for effective
planning
• Don’t blindly rely on mathematical and
statistical calculations. Use your judgement
as well
• Don’t ever assume that past trends can be
exploited into the future forever
• if drawing conclusions from statistical data,
make sure the sample size is sufficiently
large
Behavioural planning problems
• Planning recalcitrance: resistance and non-co-
operation by managers in planning
• fear of uncertainty in planning: a lack of comfort
in planning activities
• political interests in planning activities:resource
bargaining, padding of requirements, and
avoidance of consensus
• planning avoidance: compliance rather than
commitment to planning
Standard Planning Framework
• Analysis - where are we now?
• Objectives - where do we want to be?
• Strategies - which way is best?
• Tactics - how do we ensure arrival?
• Control - are we on the right track?

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