Importance of the marketing planning:, Marketing Management

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.

Posted Date: 9/19/2012 7:49:34 AM | Location : United States







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

Write discussion on Importance of the marketing planning:
Your posts are moderated
Related Questions
How is searching the reasons of distribution channels in economics system? Searching: Buyers and sellers are constantly engaged within search for consummation of required

(a) Differentiate the substitution effect and income effect of a price change and illustrate same by way of a diagram for the case of a normal good. (b) Describe with example t

Illustrate the term price leadership strategy. he presence of a leader assists to regulate the market and ignore too many price changes oligopolistic markets, in that the numbe

the equation s=p shows the relationship between the amount george saves from each paycheck george saves and determines how much of a 128 dollar paycheck george save

Customer Analysis It is already insisted that the lunch pack concept through Starbucks is not open to people of all ages. This section gives an overview on the consumer analy

Franchising This is a form of company in which a firm sells the rights to create its product or service to other service providers who necessary operate under the selling firm'

prodact mix of lg company

What is Sales Research in scope of Marketing Research? Sales Research: Sales research comprises decision concerning selection of store channels, sales; territories force

I have done a part 1 of my business plan but clueless of how to do the business plan 2 part that i need done. If i send my part 1 of the business plan is it anyway that you can do

QUESTION (a) "The role of the Marketing Manager in the strategic marketing planning process is critical." Discuss this statement by giving suitable examples where appropriate.