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Marketing Planning

Decent Essays

Marketing Planning Gilligan & Wilson (2009), define marketing planning as logically establishing of marketing objectives and formulating plans to achieve them. This involves an elaborate plan researched and detailed to evaluate results of past marketing decisions, create future goals, and to obtain funds to pursue new business ventures. Perspectives of marketing planning The marketing perspective is an organization's long-term view of it's market position; can be spread over by short-term profit perspectives. Many formal marketing planning prescriptions are not consistent with corporate reality, any many organizations seem to misunderstand the concept. Tikkanen and Akkanen reveal that there still exist a reliance on marketing in both the United States and Europe across small and large companies Changing Perspectives of Marketing Planning The perspective of marketing has changed over time from empahisis of elements of marketing to strategic role of marketing (Day and Wensley 1983). The new perspectives are based on different theoretical sources using varying vocabulary employing a one sided view of marketing This trend lead to segmentation of research schools (Astley and Van de Ven 1983). Therefore leading to the challenge of relating them to marketing and identification of their contribution. Balancing Strategic Intent with Strategic Reality Formulation of strategic intent within the company stretch targets incorporates creativity and innovativeness and

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