Question

Briefly Explain (Q4) It has been said that a plan is nothing, but planning is everything. How does this relate to the concept of a marketing plan?

Answer 1

Plans are certainly important because it gives us the foresight of the predetermined goals and sets the road to achieve the same. However, what is more important than having a plan in place, is execution of the same which involves meticulous planning activity. Without planning, the goals may be clear but often we may not be prepared to face the various hurdles that may fall on the way. The process of planning begins with not only forecasting such hurdles but evaluating the alternatives to select the one which shall be most appropriate to deal with the same, thereby facilitating us to achieve the goals in the most efficient manner. Hence, Plan is nothing without proper execution of the same. For execution, Planning comes into play. If Planning is proper, it is everything what a Business needs to possess in order to accomplish the Business goals.

It relates to marketing in the manner that the marketing plan shall define the primary goal which is to achieve higher sales by pushing the offering in the market through various means of marketing. Planning shall help to achieve the same by placing the marketing mix in action. The four important Ps: Product, Price, Place and Promotion shall be put to test only with definite preparation and evaluation of the market scenario. The distribution channel, the intermediaries in the channel, the Product designing and placement in the market, market segmentation, Promotional media, Pricing strategy, etc., shall all be the elements of a good marketing plan. The Planning to execute all these elements shall be a task in itself. Analysis and studying of various marketing variables shall influence such a planning and decision-making activity. Hence, Plan is nothing in itself in marketing, if it only states, “To push the sales higher and make a position in the market for the product”. Planning substantiates the Plan by laying down the path where execution of the plan becomes feasible.