Marketing Planning

Marketing planning as a process of analysis, thinking and action is essential for survival and long term success. Marketing planning is widely adopted by businesses from all sectors, service companies, manufacturers and public sector/not for profit companies. The process of marketing planning encapsulates elements of marketing management: marketing analyses, development of strategy and the implementation of the marketing mix. It is a systematic process for assessing marketing opportunities, helping organizations to stay in touch with marketplace trends and to keep abreast of customer needs—all designed to help firms compete more effectively. In addition the marketing plan plays a key role in informing the organisation about the agreed marketing strategy and actions required for implementation. The plan also provides details of resource allocation, responsibilities and timelines, and should address potential obstacles to success. The marketing plan is a road map, providing direction to help the business implement its strategies and achieve its objectives.