Importance of the marketing planning: the Importance of the marketing planning is clear from the following
1. To offset future uncertainties: future is always wrapped in uncertainties. An expert marketing manager is capable of marketing forecast on the basis of careful analysis of present circumstances and trends and then sets the objectives and goals for the future. Then he plans to achieve the company's objectives and goals. Hence the marketing planning is necessary to affect future uncertainly as far as possible. Thus, the marketing planning prepares planned strategies and programmers for the future to offset the future uncertainties.
2. Help in management by objectives: clearful objectives of the company undoubltrdy help in the management of the activities of the concern. The various activities, programmers and operations of all the departments are formulated, keeping in view the overall objectives of the company. The objectives of the enterprise are clarified by the marketing planning. Thus, the marketing planning facilities the work of management.
3. Economy in operation: marketing planning is so helpful in achiving the maximum results with the minimum efforts and with the maximum expoitation of all the human and physical resources of the enterprise. Thus marketing brings economy in advertising, sales, purchases, and financing.
4. Helpful in co -ordination: planning helps in co -ordination in activities of all the departments. Marketing planning not only so coordinates the various activities in its own department but it also helps in the coordination of the activities of all other departments of the enterprise to achieve the overall objectives and goals for the company.
5. Helpful in control: planning is a part of control. The performance standards are set and they are compared with the actual performance of various departments. Any unfavourable variation is removed in the next plan and favourable variation is planned to retain. Hence planning is very useful for control.
6. Customer's wants satisfaction: under marketing planning the actual wants of the consumers are studied properly. Marketing activities are channelized to provide full satisfaction to the actual users of the products. Customer's satisfaction markes the marketing works easier and convenient.
7. Performance standards: marketing planning helps in setting and evolving performance standards and in increasing organization efficiency, it makes the decision making easier and quicker as it defines individual duties, rights and liabilities of all the employers of the enterprise. The various problems are solved quickly and untoward hulders are overcome.
Thus, marketing planning is an essential tollin the achiving the overall objectives of the firm.