Introduction

Marketing planning is a systematic process for developing and coordinating marketing decisions. It provides direction for marketing activities and ensures resources are used effectively to achieve organizational objectives.

The Planning Process Steps

1. Situation Analysis

  • Internal Analysis: Company resources, capabilities, performance
  • External Analysis: Market trends, competition, customer needs
  • SWOT Analysis: Synthesizing strengths, weaknesses, opportunities, threats

2. Setting Marketing Objectives

Objectives should be SMART: Specific, Measurable, Achievable, Relevant, Time-bound

  • Sales objectives (revenue, volume)
  • Market share objectives
  • Brand awareness objectives
  • Customer satisfaction objectives

3. Developing Marketing Strategy

  • Target Market Selection: Which customer segments to serve
  • Positioning: How to position the brand in customers' minds
  • Competitive Strategy: How to compete in the chosen markets

4. Marketing Mix Decisions

The 4Ps of Marketing:

  • Product: Features, quality, branding, packaging
  • Price: Pricing strategy, discounts, payment terms
  • Place: Distribution channels, coverage, logistics
  • Promotion: Advertising, sales promotion, PR, personal selling

5. Implementation

  • Action programs and responsibilities
  • Timelines and milestones
  • Budget allocation
  • Resource deployment

6. Control and Evaluation

  • Performance metrics and KPIs
  • Monitoring systems
  • Variance analysis
  • Corrective actions

Key Success Factors

  • Top management commitment
  • Cross-functional involvement
  • Clear communication
  • Flexibility to adapt
  • Regular review and update

Key Takeaways

  • Marketing planning provides direction and coordinates marketing activities
  • The process includes analysis, objectives, strategy, implementation, and control
  • SWOT analysis synthesizes internal and external factors
  • Objectives should be SMART
  • Regular review and adaptation are essential

Special Thanks to Mr. Kavit Kaul, JBIMS batch of 2009.