Monday, June 11, 2012

The Marketing Planning Process

A marketing plan is a plan which outlines a businesses’ overall marketing efforts. Marketing process can be realized by the marketing to the scope of the business and to the right customer. The last step in the process is the marketing controlling.

The marketing plan can function from two points: strategy and tactics. In most large organizations, "strategic planning" is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look at a practical plan which stretches three or more years ahead.  What makes small businesses more responsive is the ability make overnight changes in both strategy and tactics.

To be effective in the large corporation, the plan has to be formalized, usually in written form, as a formal "marketing plan." The essence of the process is that it moves from the general to the specific, from the vision to the mission to the goals to the corporate objectives of the organization, then down to the individual action plans for each part of the marketing program. It is also an interactive process, so that the draft output of each stage is checked to see what impact it has on the earlier stages, and is amended.

Again the small business can make wholesale changes without going back into committee to re-analyze the current plan.  They can sense the changes without waiting for the financial reports to point out the failure of the basic marketing plan.

The marketing objectives must usually be based, above all, on the organization's financial objectives; converting these financial measurements into the related marketing measurements. He went on to explain his view of the role of "policies," with which strategy is most often confused: "Policies are rules or guidelines that express the 'limits' within which action should occur. "Simplifying somewhat, marketing strategies can be seen as the means, or "game plan," by which marketing objectives will be achieved and, in the framework that we have chosen to use, are generally concerned with the 8 P's.

Examples are:
Price — The amount of money needed to buy products
Product — The actual product
Promotion (advertising) - Getting the product known
Placement — Where the product is sold
People — Represent the business
Physical environment — The ambiance, mood, or tone of the environment
Process — The Value-added services that differentiate the product from the competition (e.g. after-sales service, warranties)
Packaging — How the product will be protected

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