Marketing Planning The Marketing Plan Essay - 1545 Words

To attract mixed segment ther is need to marketing planning is indeed the key to the whole marketing process. The marketing objectives state just where the company intends to be; at some specific time in the future. James Quinn succinctly defined objectives in general as: Goals state what is to be achieved and when results are to be accomplished, but they do not state how the results are to be achieved. They typically relate to what products will be where in what market. They are essentially about the match between those products and markets. Objectives for pricing, distribution, advertising and so on are at a lower level, and should not be confused with marketing objectives. They are part of the marketing strategy needed to achieve marketing objectives. To be most effective, objectives should be capable of measurement and therefore quantifiable. This measurement may be in terms of sales volume, money value, market share, percentage penetration of distribution outlets and so on. An example of such a measurable marketing objective might be to enter the market with product Y and capture 10 per cent of the market by value within one year. As it is quantified it can, within limits, be unequivocally monitored; and Corrective Action|corrective action taken as necessary. The marketing objectives must usually be based, above all, on the organization s financial objectives; converting these financial measurements into the related marketing measurements. He wentShow MoreRelatedStrategic Marketing Planning And The Big Picture Marketing Plan3126 Words   |  13 Pagesmust divide potential customers into segments and find ways to best satisfy them. Strategic marketing deals with the big picture marketing planning. It analyzes how a company can best satisfy its customers and makes a profit as it. Strategic marketing planning is directed from the top of the company and is extremely important in any for- profit to organization. Several key principles govern strategic marketing. Understand the Marketplace and Customer A company must identify the sources of demand forRead MoreWhy Do Healthcare Practices Need a Marketing Plan?793 Words   |  3 Pagesadvertising and marketing efforts for the coming year is known as a marketing plan. A marketing plan includes a statement of the marketing situation, a discussion of target markets and company positioning and a description of the marketing mix intended for use in reaching marketing goals (entre preneur.com, 2012). A second definition of a marketing plan is as follows: a plan that describes the activities involved in achieving certain marketing objectives within a given timeframe. A market plan starts offRead MoreCompany and Marketing Strategy: Partnering to Build Customer Relationships1465 Words   |  6 Pagesstrategic planning in its four steps 2. Discuss how to design business portfolios and develop growth strategies 3. 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According to the business dictionary market planning is the procedure of examining one or more of prospective marketplacesRead MoreBasic Aspect of International Marketing1574 Words   |  7 PagesBasic aspects of International Marketing There are three basic aspects of International marketing are as follows:- * The new product development process * Demand management * Sales marketing process (1) The new product development process can be defined as follows:-   This process characterizes itself as integration between Marketing, Ramp;D/Engineering and Manufacturing. Besides, several operating levels are active within the new product development process.   The steps shownRead MoreCritical Thinking Questions : Strategic Planning1160 Words   |  5 PagesThinking Questions: 1. Strategic planning is the process a company uses to develop and maintain a strategic fit between their goals as an organization and their capabilities of meeting demands in a fast-changing market. Strategic planning helps companies take advantage and adapt to the opportunities that it’s ever changing environment throws at them. There are four steps to strategic planning. Marketing plays a large role in the strategic planning, because the plan is finding ways to take advantage