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Tuesday, 25 September 2018

The Nature of Marketing Planning


        Marketing planning good meal planning for marketing.
 It involves setting goals and strategies for the marketing effort in the firm. It is the outline of courses of actions to be followed in order to create products that are designed to meet the needs of a particular market and to realise the company's objectives. Marketing planning involves the development of long-range programs for the major ingredients in the marketing mix the product, the distribution system, the pricing structure, and the promotional activities.

        Marketing planning is used simultaneously with the marketing planning. Marketing plan is a series of activities that specify how marketing activities would be carried out. It is a plan that details out how the identified needs of a target market could be met through provision of goods and services thats meat the identified needs priced reasonably distributed through a specified channel and promoted to inform, persuade and remind the target market at a profit to the company.

        Companies that are highly market-oriented sometimes use the term marketing plan to make the overall business plan. Others call it market oriented business plan. Marketing is used in some companies to describe the section within the large business plan that deals specifically with marketing issues and strategies, as against the plan that centre around the financial or product sections of the same plan. Yet, other companies use the term to describe a special marketing documents for attending some marketing goals such as means of entering a new market or testing and launching a new product. It should be noted that the marketing plan is a foundation for the planning of other activities of the firm.