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Marketing Planning Process

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David Hill
Marketing Planning Process

In outline the marketing planning process comprises the following steps:

1. Gathering information on the external environment and the organization internally; Identifying the major strengths and weaknesses of the organization and opportunities and threats externally (SWOT);

2. Formulating basic assumptions about key determinants of marketing success;

3. Laying down market objectives for the organization, based on the information gathered, the SWOT analysis and the assumptions made and formulating strategies;

4. Devising detailed plans and programmes to accomplish objectives;

5. Measuring progress towards achievement of objectives, reviewing and amending the plan as necessary.

Developing a Marketing Plan:

Planning is a method for achieving an end. If a service business wishes to survive and prosper in a competitive environment, it needs to establish a set of marketing goals that explicitly recognizes where the organization is now, where it would like to be, and how it proposes to get from here to there. Table 11.2 summarizes the key elements in a marketing plan, beginning with an analysis of the current situation and identification of problems and opportunities.A good marketing plan does more than identify goals and strategies that are based on facts and current assumptions; it also provides a plan of action for accomplishing the mission, using existing or readily available resources.

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