MARKETING PLANNING PROCESS

Marketing Planning Process

Marketing Planning Process

Introduction

We live in a changing world in which companies must stay ahead and innovate while technology and other elements change. Companies for years to have been facing challenges arising from number of the Pressures of Their environment, that requires them properly prepared and to be in a permanent state of alert. After completing the strategic planning of the organization as a whole and of each business unit and management can begin planning for each major functional divisions, such as marketing, production, etc.. The marketing planning (same as that of any functional division) must be guided by the mission and objectives of the organization in general or business (Mathwick, 2006, 211). Marketing planning process is the organizational and management document that brings together all types of marketing activities in line with the objectives of the company, its resources and organization. In this we could form marketing budget, monitored market behavior and performance of the firm. Marketing planning process require us to make a timely manner and within the specified proportions to update the range of goods and services, balancing price changes, the best way to disperse over time promotional efforts, to develop targeted marketing activity. The company selected for this topic is Coca-Cola Company.

Company's Overview

The Coca Cola Company founded in 1886. Its headquarters is in Atlanta, Georgia with local operations in over 200 countries around the world. E. Neville Isdell is the Chairman and CEO. This centralized company got made of a Board of Directors, Executive Committee, Operating Group Leadership and Corporate Functional Leadership.

Marketing Planning Process

Marketing Planning Process is the corporate planning at divisional and business level; it is also an integral part in the process of marketing. To fully understand this process, we must first examine how a company defines its business. The task of any business is to deliver value to the market making a profit by doing so; there are at least two perspectives of value delivery process.

Situational analysis

The situational analysis is a review of current marketing program of a company. In analyzing the business we include the results achieved so far by the company. The situational analysis normally contains a study of the external factors and resources pertaining to the marketing department surrounding the organization. It also includes a detailed review of the current mix marketing company: its products and pricing status, its distribution system (in which intermediaries are included), its promotional program and the group of customers you serve and strategies such as through which satisfies and key performance measures. Analysis of the situation is critical since it constitutes the foundation of decisions. But it can be costly, time consuming and frustrating (McWilliam, 2000, 43).

For example, it is often difficult to draw and timely "mountains" of data collected during the research. Part of the analysis of the situation, some companies conduct a SWOT assessment. In which we judge its major weaknesses, opportunities, strengths and weaknesses. To meet compliance, an organization must leverage their greatest strengths, overcome or ...