Strategic Marketing Planning Concept

What is planning?

It involve thinking in advance, it is the determination of strategies programmes, policies, procedure to accomplish organizational objectives. According to Drucker  planning “ as a continuous, process of making present entrepreneurial decision systematically and with best possible knowledge of their futurity, organizing systematically the effort needed to carryout these decisions against expectation through organizational feedback” It is a difficult task which requires ability to think, to predict, to analyze and to over come from difficult situation. The main aim of planning to adapt, to adjust and  to reshape ongoing process of the organization. The process of planning involves focusing on changing market opportunities and development. A marketer works in the environment which is uncertain and dynamic , it is only possible with the help of planning to curve out the future plan of action.

What Is Marketing Planning?

Planning if first and foremost function of any department in the organization. Marketing planning involves preparation of policies, procedure, programmes, budget etc in advance for carrying out various process and functions of marketing to achieve marketing goals. It help the management to go with the flow of changing and growing marketing condition. According to American Marketing association” marketing planning is the work of setting up objectives for marketing activity and of determining and scheduling the steps necessary to achieve such objectives.
Every organization must look forward and set a goal where it want to be and how to get at that position. In order to meet this the organization need to have two system a strategic system planning and marketing system planning. A strategic system planing is  just like a route map in our hand to origin from destination which defines clearly how to do it when to do it and also consist of hedge against the risk and uncertainties. A strategic plan cannot be drown all of the sudden it need evaluation of the marketing condition, research about the current needs and desires of consumers.

Characteristics of Marketing planning

• Marketing planning is a continuous process.

• Planning is the process of deciding in advance what to do and how to do. A marketing planner must decide about various tools and techniques to be used to achieve the desired goals of the organization

• Planning  is a decision making process and marketing planning is a programme of marketing based actions with respect to future with the goal of minimizing the risk and uncertainty.

• Marketing planning is a systematic approach towards planning about the marketing activities such as product pricing, labeling, product positioning, distributing the product etc.

• Marketing planning requires critical thinking, imagination, forecasting, market projection, market analysis, consumer behavior analysis which is based on data and measurement drawn internal or form external business environment.

Advantages of Marketing Planning 

• Marketing  planning help to coordinate activities which facilitate the attainment of certain goals with the given period of time.

• It provide a frame work for performing the further functions , it tells the marketers what to do and how to do in very detailed manner. It give more importance to market enlargement rather than market maintenance.

• It help the marketing department to minimize the risk as it predict the risk and uncertainties in advance.

• It forces management to focus of the future aspects.

• It reduces the adverse consequences of unfavorable circumstances beyond the influence of management.

• Resources can be better balanced in relation to identified market opportunities.