Outline the main benefits/advantages and the potential disadvantages/drawbacks associated with marketing planning, based on a critical review of the literature.
Marketing planning is a series of activities in a logical sequence leading to the setting of marketing objectives and the formulation of plans for achieving them. There has been much research into the advantages and disadvantages of marketing planning; the main findings will be described in this paper.
Marketing planning helps to identify potential sources of competitive advantage as it makes a company look at the market environment and think about the opportunities within it. If competitive advantages are found these can be exploited and high returns gained. Marketing planning makes the company become more organised as it encourages planning and the setting of objectives and strategies, this gives more direction to the firm as they know what they are doing, when, how and the deadlines. If the whole firm is organised......
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Approximate Word Count: 636
Approximate Pages: 3 (260 words per double-spaced page) |