MARKETING PLANNING

Marketing planning is all about firm marketing activities. It can also be pertaining to a specific product or an organization as a whole.

So, when the senior management is taking the decision regarding the formulation and planning of business strategy they indebted to incorporate the marketing activities into the plan which they think are appropriate for the plan.

A (Product planning) marketing plan includes the following things: -

Executive Summary and table of contents:- containing the senior management goals and recommendations and other supporting rationale and operational detail

Situational Analysis: - Situation is judged in terms of the market, competitors, sales and various other macro environment forces. Also critically scrutinizing what all SWOTS tells us.

Financial Projection:-it tells us about the sales forecasts and also break even analysis. Hereby, on the revenue side the company would mention the sales volume by the product and month category. On the expense side it mentions the expected costs of marketing broken into fingers. The break even analysis mentions that if there is not a monthly offset of fixed cost and average per unit variable cost the sustained market share of a company after a saturation point would decline.

Implementation Controls: - Monitoring and adjustment of plans. It basically looks whether the company is a set budget and situation is able to perform at a particular standard.