Individually, write a critical review of the current issues facing academia or practitioners, answering the dilemma: Planning is neither within the grasps of contemporary marketers, nor a realistic possibility? Include within the report a short personal account (300 words max) of how the review changed or strengthened your understanding of the relevance of planning (2500 words)
In the twenty-first century, global economic conditions create incentives for new market entry and expansion strategies, the environmental factors affecting these strategies become more and more complex with intense completive pressures and the speed of technological change. All companies need strategies to meet changing markets. No one strategy is best for all companies. The managers typically feel that the pace of technological change and the speed of global communications mean more and faster change now than ever before (Johnson and Scholes, 2002). As the environment changes, so businesses must adapt in order to maintain strategic fit between their capabilities and the marketplace (Jobber, 2004). In cope with the environmental pressures on the company and managing the resources at its disposal and their complex interplay, a clear sense of direction is invaluable (Cannon, 1998). Therefore marketing planning is more and more essential to provides both the vision and the direction for the company.
Marketing planning is a systematic process that involves assessing marketing opportunities and resources, determining marketing objectives, recommending valid marketing strategy, developing a detailed marketing mix programmes designed to implement the specified marketing strategy, and scheduling and costing out the actions necessary for implementation (Dibb, et al, 2001). The role of marketing planning would be to ensure that the marketing mix for the product matches changing customer needs, as well as seeking opportunities to use the companies’ strengths to market other products in new markets (Jobber, 2004).
The purpose of this report is to explore whether the marketing planning is just a waste of time and very uncertainty work. It is discussed with some current issues to explain the important of the marketing planning, the strategic planning process and planning maybe is either forecasting some potential factors or maybe is unpredictable factors, such as erewhile tsunami in south Asia lead to many unpredictable factors for the local and global market. The important of make planning
The formal planning yields benefits for all types of company, large and small, new and mature. It forces the company to sharpen its objectives and policies, leads to better coordination of company efforts, and provides clearer performance standards for control (Kotler, et al, 2001). There are many studies which identify a wide range of benefits to be obtained from marketing planning. The benefits can be classified as relating to the development, coordination and control of marketing activity. First of all, marketing planning helps a business to analyse environment, identify available options and expected developments, allocate resources and make appropriate decisions (Dibb, et al, 2001). Besides that planning avail to provide a clear sense of direction for the business, available resources can be better matched to opportunities, and increase organizational preparedness to change. This can ensure that progress towards pre-defined objectives is monitored and maintained (Jobber, 2004). . Secondly, marketing planning also assists business to specify exactly what is expected, integrate different areas, communicates objectives and plans to the staff and reduce internal rivalry, which planning avail to minimize irrational responses to the unexpected things, improve communications among executives, reduce conflicts about where the company should be going and improve the internal working relationships (Brassington and Pettitt, 2003). Thirdly, marketing...
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