Vivian, you did a fine job completing your Unit 4 Marketing deliverable post!! You are our DB 4 post trailblazer for this week.
- A marketing plan is a written document that covers the situation, objectives, and actions for an organization for the time period covered by the plan.
- The time period covered by the plan depends on the volatility of that organization’s market:
o Annual Planning Cycle : Sufficient for stable, well-established markets like industrial products
o Quarterly Planning Cycle : Recommended for dynamic markets, such as high technology
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o Ad hoc Marketing Plans : Recommended to take advantage of market opportunities
- Marketing plans do not include details on non-marketing-related activities such as operations and human resources.
QUESTION: The marketing planning process diagram includes a feedback loop. What type of information would be useful for such feedback? How would it change future plans?