Marketing planning is the process of creating and maintaining consistency between the objectives of the company and its capabilities in the framework of market activities. When making types of marketing planning, the company develops an action program that will enable it to manage changes to get the desired results for a certain period of time.
Type of marketing plan is carried out by studying the possibilities of forecasting and their implementation, developing a methodology for solving marketing problems, as well as organizing and monitoring the implementation of the marketing plan. The types of marketing planning object are the company’s activities, taking into account environmental factors that have an impact on it. Marketing planning allows a company to set own goals in accordance with external market conditions.
Through marketing planning, an organization can perform a number of tasks:
- bringing the company’s potential in line with the demands of target consumers
- optimization and integration of all types and directions of the company’s marketing activities
- determination and justification of the need to perform specific marketing actions
- identify the characteristics of the required marketing actions.
Marketing management from the point of view of planning is divided into:
- strategic marketing planning
- operational marketing planning.
Strategic marketing planning
Strategic marketing planning is a part of the overall strategic planning process, which, in turn, is included in the list of management functions.
Strategic planning in an organization underlies the performance of all other managerial functions.
The rejection of strategic planning or insufficient attention to this process threatens the organization with market failure – the company’s management does not use the opportunity to set goals and evaluate the process of achieving them.
The tasks of strategic planning are individual for each company and depend on the nature of its activities. The standard objectives of strategic planning are:
- Profit growth planning
- Cost planning company
- Increased market shares or sales
- Improving the image of the organization.
Strategic planning that maximizes the company’s profits as a result of its activities. What does a marketing plan include? Strategic marketing planning includes the following areas:
- market share and competitiveness
- market characteristics
- the variety, quality, and characteristics of the product range
- market research and new product development
- sales, advertising, and product promotion
Operational marketing planning
The essence of operational marketing planning is to transform the organization’s strategic goals into marketing action programs, budgets, and profit plans.
Operational organizational plans are often prepared separately for each unit. Each division of the company implements an operational marketing plan and monitors its implementation. Operational plans provide guidance to the operation of operational units that support the organization’s activities, as opposed to strategic plans that are intended for management purposes. The operational plan specifies:
With the help of operational marketing planning, a company can determine the structure of its strategic goals, specify the chosen market strategy, develop budgets for each program and methods for its implementation, etc.