marketingplanning

Marketing planning is the process of defining and organizing marketing activities to achieve defined objectives within a set time frame. It links strategy with action, producing a roadmap of objectives, channels, budgets, and schedules.

Key components include a situation analysis (market size, trends, customer needs, competitors, and internal capabilities), marketing objectives (SMART), segmentation and targeting, positioning, and the marketing mix (product, price, place, promotion, with additional Ps as needed). The plan also details tactics, channels, resource allocation, timelines, responsibilities, a budget, and a measurement framework.

The planning process typically follows a cycle: research and analysis, objective setting, strategy and tactic development, budgeting and scheduling, implementation, and performance monitoring with KPIs, enabling adjustments. Frameworks commonly used include SWOT, PESTEL, STP, and SOSTAC.

Marketing planning should align with broader corporate strategy and marketing strategy to ensure consistency across product development, pricing, distribution, and communications. The main outcomes are a formal marketing plan document, an implementation road map, and a system for evaluating results and learning for future cycles.