Element of marketing planning, Marketing Management

Element of Marketing Planning: marketing planning involves setting of objectives and making plans for how these objectives can be achieved. It involves deciding the policies strategies procedures programmes schedules and budget. The marketing planning has the following elements:

  1. Objective
  2. strategies
  3. policies
  4. procedures
  5. programmes
  6. Schedule
  7. budgets

1. Setting of objectives: objectives are the ends which an organization wants to achieve through various means. It is the responsibility of the marketing executive not only to set objectives but also to explain them very clearly to the other members of the organization. Objectives should be clearly stated and specific. Objectives can take any form like.

1 to increase the market share from 15% to 20% for year 2001-02.

2 To enhance sales by 10% for year 2001-02.

3 To earn profit of Rs. 10, 00,000 in the year 2001-02.

2. Strategies: a strategy is a game manship or an administrative course of action designed to achieve success. It provides direction to the deployment of resources to meet environmental related as a change in environment ask for change in strategy.

3. policies: policies are the guidelines for achieving the set objectives of the firm. The policies guide the manager and subordinates of the compsny as what is to be done. Policies guide the internal environment of the organization. Policies can be verbal written or implied and they are more rigid than strategies.

4. Procedure: procedure serves as guidelines for achieving the set objectives of the firm. The policies guides the manager and of the company as what it to be done. Policies guide the internal environment of the organization. Policies can be verbal, written or implied and they are more rigid than strategies.

5. Procedure: procduere serves as guideline to the actual marketing activity. A procedure is a sequence of the steps to be undertaken to enforce a policy and to maintain an objective. It lays down the specific manner in which a particular activity is to be performed.

6. Schedule: a schedule specifies time limits within which activities are to be completed. Scheduling is the process of the establishing a time sequence for the work to be done. In the field of marketing when the advertising and sales promotion programmes have to be applied schedule shows the actual time of starting a particular programme with a view to achieve the overall objectives of the firm.

7. Budget: a budget is a statement of expected results expressed in a numerical terms for a definiate period of time in the future. Budget indicates the financial aspects of the marketing operations. Budget serves as means of cooperation and control. Budgets serve as standards of measuring actual performance. Different budgets may prepare for the each marketing activity. 

Posted Date: 9/19/2012 7:48:36 AM | Location : United States







Related Discussions:- Element of marketing planning, Assignment Help, Ask Question on Element of marketing planning, Get Answer, Expert's Help, Element of marketing planning Discussions

Write discussion on Element of marketing planning
Your posts are moderated
Related Questions
Your first assignment is to create a brand name, perform a name search online and create a relevant logo that reinforces the brand. The university liked the idea of “engaged and

For 1980 through 1996 e total exports E of the us can be modeled by E=-0.131^3 +5.033t^2-23.2t+233 where t is the number of years since 1980 in what year were the total exports abo

Problem: After introducing a new product, management wants the product to enjoy a long and happy life. (a) How can the ‘life' of a product be conceptually analyses? (b) H

x + 3y + z = 10 2x + y - z = 1 3x - 2y - 8z = -3

What is Growth Stage of Product Life Cycle? Growth Stage: A period of quick market acceptance of product and substantial profit enhancement also. Throughout this stage pr

Whats next for Amazon.com? Is cloud computing the right direction for the company? Where else can it grow?

Question 1: (a) What are the different stages in consumer buying decision? (b) Explain the difference between routine and complex buying decision using appropriate exampl

Question 1: It is commonly said that political risks are among the most important ones to consider when a firm is considering to commit itself to invest in a foreign country. F

State the Nature of Product - Choice of distribution channel Nature of the product considerably affects choice of channel of distribution. In case product is of technical n

QUESTION 1 You have been appointed as a marketing manager for a restaurant selling ‘healthy food' in the city centre. They have asked for your advice on advertising their produ