Rewards of marketing planning


·         Consistency : by reference to a common marketing plan, decisions by the same manager over time, and by different managers should be more consistent and actions better coordinate.
·         Encourages monitoring of change : step away from day to day problems and review the impact of change on business from a strategic perspective.
·         Encourage organizations adaptation : firm adapts to match its environment. Marketing planning promotes the necessity to accept the inevitability of change.
·         Stimulates achievement : it motivates people to set new objectives. It encourages people to ask, “what can we achieve, given our capabilities?”
·         Resource allocation : Build, harvest and divest objectives decides resource allocation.
·         Competitive advantage : Planning promotes search for sources of competitive advantage.
But not all companies formulate and implement their plans in this manner. The style of planning must match business culture. Incremental planning is more problem focused as the process begins by realization of a problem and continues with an attempt to identify a solution. As solutions to problems from form, so strategy emerges. Individual decisions should be integrated to align with the strategy, which is not being done. Strategy is a loosely linked group of decisions that are handled individually. Its effect is to attune the business to its environment through its problem solving nature.    

1 comments:

Ivailo Bakalov said...

You marketing plan should illustrate that you have carefully considered how to produce a product or provide a service that is innovative, unique and marketable. Some marketing plan templates may vary but a good marketing plan captures basically the same information.

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