- Will help you develop logical, workable strategies
- Requires orderly collection and analysis of competitive information
- Will increase your chances of developing a successful program (develop best strategy)
- Gives you complete data for future plans
- Will save you time, effort and money long term
Process of marketing planning
- You should look for specific opportunities to improve your chances of meeting your objectives.
- You should identify problems that need to be solved.
- Products and market elements should be clearly understood.
- You should understand your company business direction and long range plan.
- You should understand your company's objectives. (sales, market share or other)
Situation analysis is the first step of marketing planning
- Not every item in the situation analysis section is relevant to every product.
- However, the planner must be sure to include information on each item that is relevant. If information on a relevant area is not available, the obtaining of such information should be part of the marketing plan that is being prepared so it will be available for future planning periods.
- All available and obtainable information related to the product should be gathered, analyzed and considered in developing your plan.
challenge to win