MKT421 Wk 1 DQ 2
MKT421 Wk 1 DQ 2
Popular in Course
verified elite notetaker
Popular in Department
This 0 page Study Guide was uploaded by tophomework Notetaker on Thursday November 12, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 19 views.
Reviews for MKT421 Wk 1 DQ 2
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/12/15
Assume you are the newly hired marketing manager of a company As you spend time with other peer marketing managers you realize that the company does not place an emphasis on planning within the marketing organization Why is planning important in marketing What are the essential components of a marketing plan How would you convince your supervisor that the marketing department should produce formal marketing plans Why is planning important in marketing There are many reasons why planning is imperative in marketing Planning allows us to run strategic marketing programs effectively and efficiently A welldocumented marketing plan details project budget and its particulars thus giving an excellent idea how much we need to negotiate with vendors This written marketing plan also ensures everyone stays on track during its execution What are the essential components of a marketing plan A marketing plan is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives It contains tactical guidelines for the marketing programs and financial allocations over the planning period Kotler amp Keller 2009 p 56 According to Kotler and Keller 2009 a marketing plan consists of following parts Executive summary Table of contents Marketing approach Financial details Implementation guidelines and checkpoints VVVVV How would you convince your supervisor that the marketing department should produce formal marketing plans A marketing plan is of Vital importance when a company is trying to achieve certain goals regarding expenses investment and income etc 4P s Product price placement and promotion are discussed in detail in a marketing plan In addition supervisor can be convinced about making a formal marketing plan by showing him figures and reports about success of other companies who have followed this path Reference Kotler P amp Keller KL 2009 Marketing management 13th ed Upper Saddle River NJ PrenticeHall
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'