Last Updated 12 May 2020

Marketing Planning Process Essay

Category Marketing Plan
Essay type Research
Words 222 (1 page)
Views 111

These are summarized in the diagram below: Marketing Planning Process The extent to which each part of the above process needs to be carried out depends on the size and complexity of the business. In a small or understudied business, where senior management have a strong knowledge and detailed understanding of the overall business, it may not be necessary to formalism the marketing planning process.

By contrast, in a highly diversified business, top level management will not have knowledge and expertise that matches subordinate management. In this situation, it makes sense to put formal marketing planning procedures in place throughout the organization. From the diagram, the main components of a marketing plan can be summarized as: Component of the plan Description Mission statement A meaningful statement of the purpose and direction of the business Corporate objectives The overall business objectives that shape the marketing plan Marketing audit The way the information for marketing planning is organized.

Assesses the situation f marketing in the business - the products, resources, distribution methods, market shares, competitors etc Market analysis marketing planning process By reckon SOOT analysts An assessment of the firm's current position, showing the strengths ; weaknesses (internal factors) and opportunities and threats (external factors) Marketing objectives and strategies What the marketing function wants to achieve (consistent with corporate objectives) and how it intends to do it.

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Marketing Planning Process Essay. (2018, Jun 20). Retrieved from https://phdessay.com/marketing-planning-process-essay/

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