Marketing Planning as an Essential Foundation for Marketing Success Essay

Marketing Planning as an Essential Foundation for Marketing Success - Essay Example As the report declares prior to formulating an effective marketing program, it is incumbent upon management to consider the company’s current position within the market, the competitive landscape it faces, the unique aspects of the organization and its product, as well as how to position the organization for future profitability; all of which are a natural part of marketing planning. At its simplest expression, marketing planning is focused on two major sequential components, â€Å"establishing the corporate planning perspective and...developing marketing programs†. This paper stresses that effective marketing cannot be implemented as a series of random events; it should be viewed as a sequence that takes in the corporate condition and then tailors a marketing program to maximize opportunities. There are three vital aspects to this process that provide foundational support for success. The first is that marketing planning is, itself, a linear sequence. The value of such a scheme is that execution follows the form. In sequential management processes, it is relatively easy to identify where you are, and deduce where you should go. Marketing planning is more than just a linear process that defines a sequence of events. It is also a mechanism by which leadership is compelled to analyze its current market environment and proactively engage in sound business practices. ... At its simplest expression, marketing planning is focused on two major sequential components, "establishing the corporate planning perspective and...developing marketing programs" (Lazer 1971: 87). Effective marketing cannot be implemented as a series of random events; it should be viewed as a sequence that takes in the corporate condition and then tailors a marketing program to maximize opportunities. There are three vital aspects to this process that provide foundational support for success. The first is that marketing planning is, itself, a linear sequence. The value of such a scheme is that execution follows the form. In sequential management processes, it is relatively easy to identify where you are, and deduce where you should go. For the purposes of marketing planning, the fact that the first step in the sequence-and the second vital aspect of the process-is a corporate planning perspective that allows management the opportunity to analyze the organization's position and evalu ate its strengths, weaknesses, opportunities, and threats. This "first stop" on the map creates the necessary understanding to take the next step in the sequence, which is the third vital aspect of the linear process, and actually formulate a marketing program that meets the needs of customers, aligns with corporate philosophy, and stands a good chance at defeating competitive pressure. These goals would never be achieved, however, if a sequential process were not in place. Marketing planning is more than just a linear process that defines a sequence of events. It is also a mechanism by which leadership is compelled to analyze its current market environment and proactively engage in sound business practices. Marketing Planning Facilitates Good