MARKETING PLANNING Assignment Example | Topics and Well Written Essays - 2250 words - 1

MARKETING PLANNING - Assignment Example It implies that a number of tactics can be considered so that the objectives and missions of the business can be attained. Marketing planning is essential in the strategic planning process for an organization, since it provides direction in the firm and outlines the goals of organization that are measurable (Jobber, 2010). The day- to-day decisions of the business depend on the marketing planning and strategic planning process (Young, 2010). This is based on the fact that the firm is prone to changes and it has to progress with its daily routines. The approaches to move forward must be planned and to accommodate change in the firm strategic decisions or planning must be incorporated. Marketing planning helps the managers and directors of the business to efficiently allocate the resources available in an optimum manner so that the goals set can be attained. Risks may occur when the business is operational and other uncertainty and if the market plan was emphasized, then tactical marke ting planning may be employed to cater for the risks and other form of uncertainties. In conclusion, marketing planning is essential in the strategic planning process for an organization since it gives the organization the go ahead. For example, a firm can identify the tactics that can be applied to outdo the competitor. It also gives the management of the organization a chance to plan for the present and future strategies. The first stage of product development is to come up with the idea of the product that will be established in the market. It is important to consider whether the product is already in the market or a new entrant in the market. Market research must be conducted so that market sources like the consumer wants, dislike and competition among others can be known. Since the company may have a lot of ideas concerning the products that they need to develop, it is critical and recommendable to choose an idea that is best and reject the bad idea