Mrketing Mngement Essay Example | Topics and Well Written Essays - 2500 words

Mrketing Mngement - Essay Example Plnning process is n initil stge of mrketing strtegy for ny orgniztion tht helps to shpe objectives nd gols of firm s well s to produce the principl policies nd plns for chieving those gols. During the plnning process it is normlly defined the nture of the business the orgniztion is to pursue which in turn hs gret bering on the kind of economic nd humn orgniztion it needs to possess. Gols nd objectives re usully set within time frmework. Strtegy entils mtching the compny's ctivities to its resource cpbility. There is little point in trying to tke dvntge of some new opportunity if the resources needed re not vilble or cnnot be mde vilble. n orgniztion must formulte strtegy during the plnning process of mrketing strtegy within the boundries of the resources tht re likely to be mde vilble. This is fundmentl considertion tht must be ddressed when formulting the pln. Strtegy is lso to do with the mtching of the ctivities of compny to the environment in which it opertes. Since the environm ent is continully chnging, strtegic decisions necessrily involve coping with chnge. The extent nd speed of environmentl chnge will vry nd the pce t which strtegy must chnge will necessrily vry too. s it ws lredy mentioned, there re lot of fctors tht need to be considered in the plnning process of n orgniztion tht ffect mrketing strtegy of the compny. These fctors re described in bellow nd re the reflection of stges of the plnning process of n orgniztion. 1. Initite nd gree Upon Strtegic Plnning Process This step is to ssure tht the key stkeholders understnd the plnning process nd re committed to it. Importnt persons nd groups re identified. The plnning process nd objectives re discussed with them nd their support nd commitment is sought. 2. Identify Orgniztionl Mndtes This is the identifiction of the legl nd politicl demnds which define wht the orgniztion must do. The explicit requirements of these mndtes re outlined s precisely s possible, nd clrifiction of gols nd ctions tht re not prohibited (the boundries of wht cn be ttempted) is initited. 3. Clrify Orgniztionl Mission nd Vlues This stge strives to clrify the purpose of the orgniztion. The possibilities which the orgniztion might undertke re filtered through the orgniztionl vlues to begin definition of wht it wnts to do nd wht it should do. comprehensive stkeholder nlysis is performed which expnds the work initited in step one. mission sttement, or the frmework for one, should be developed, nd this my be good plce to begin tht tsk. 4. ssess the Orgniztion's Externl nd Internl Environments The objective of this step is scnning opertion to identify strengths, weknesses, opportunities, nd threts (SWOT). This step (s well s plnning process generlly) grows from Open Systems Theory which sserts tht ll environmentl impcts, s well s ll internl forces, re interrelted nd hve potentil effect on ech other nd on the orgniztion. This step is the hert of the plnning process. It is firmly entwined with ll the other steps, nd is lmost synonymous with the plnning process concept. 5. Identify the Strtegic Issues Fcing the Orgniztion This identifiction emerges logiclly from the SWOT nlysis in concert with the mndtes, vlues, nd mission. "Strtegic issues re fundmentl policy questions or criticl chllenges tht ffect n orgniztion's mndtes, mission, nd