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.
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