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Marketing is a process of developing and implementing plans to identify and satisfy customer needs and wants with the objective of customer satisfaction and profits making. Marketing Planning involves setting objectives and targets, and communicating these targets to people responsible to achieve them. Mission statement and corporate objectives are determined by the top level management (including Board of Directors) of the organisation. Marketing audit helps in analysing and evaluating the marketing strategies, activities, problems,  goals, and results. The information gathered through the marketing audit process is used in development of SWOT Analysis. Strengths and Weaknesses are factors inside the organisation that can be controlled by the organisation.
Opportunities and Threats are factors outside the organisation which are beyond the direct control of an organisation.
A good marketing plan is based on deep customer understanding and knowledge, but it is not possible to know everything about the customer, so lot of different things are assumed about customer.
After identification of opportunities and challenges, the next step is to develop marketing objectives that indicate the end state to achieve. Forecasting Customer Response - Marketing managers have to forecast the response that the average customers will have to marketing efforts. Forecasting Marketing cost - To make the marketing plan stronger, accurate forecast of marketing cost is required to be done. Forecasting the Market - To accurately forecast the market, marketing managers have to gain an intimate understanding of customers, their buying behaviour, and tendencies. Forecasting the Competition - Forecast of competition like - what they market, how they market, what incentives they use in their marketing can help to counter what they are doing. A alternate marketing plan is created and kept ready to be implement at the place of primary marketing plan if the whole or some part of the primary marketing plan is dropped. The marketing budget is the process of documenting the expected costs of the proposed marketing plan. At this stage the marketing team is ready to actually start putting their plans into action.
Youa€™ll be joining the 130,000 Smart Insights members from 80 countries who trust our advice to Plan, Manage and Optimize their marketing. Use our hub pages as a reference to get up-to-speed on all the main digital marketing techniques. We believe that a digital marketing strategy is essential to take advantage of the growing opportunities from digital marketing, yet many companies don't have a digital marketing strategy! An integrated digital strategy will give you a foundation for all the key online marketing activities we recommend in the Smart Insights RACE digital marketing planning framework. An effective digital strategy will help you take the right decisions to make a company successful online.

A Digital Marketing Strategy should involve a review to check that all of your capabilities are in place to help your organisation manage all of the digital touchpoints. A successful Digital Strategy should be built on reviewing 7 core capabilities which are strategic approach, performance improvement process, management buy-in, resourcing and structure, data and infrastructure, integrated customer communications and customer experience.
For the latest on how business create strategies and manage digital marketing, see our Managing Digital Marketing 2015 research or our listing of the top Digital Marketing statistics sources. There are surprisingly few quality digital marketing strategy sites since most focus on the strategy. 2.A Econsultancy reports - The Econsultancy blog mainly covers tactics, but there are sound research reports on managing digital channels and ecommerceA teams. These are the related techniques which we recommend as important for managing Digital marketing strategy effectively. In this post we consider the traditional marketing planning process, some of its major flaws and one possible solution. In short it outlines the process as Company objective setting, audit, analysis, define assumptions, set objectives, build strategies to achieve those objectives, estimate results, establish plans and build measurement processes. A great quote from Mike Tyson ‘Everybody has a plan until they get punched in the mouth’ is quoted by Sir Lawrence Freedman in his re-thinking strategy lecture. In practice the marketing environment is not predictable and worse still it is populated by people (employees, competitors, stakeholders) that are anything but predictable. On completion of the analysis phase it is useful to try to fit the data available with a number of future scenarios (what happens if!). Business strategy experts suggest it is best to build up to four scenarios, at least one of which should be based on worst case events. Although a useful exercise the business still needs to move forward so it is necessary to choose the most likely scenario and complete the plan based on those assumptions.
It also involves careful examination of all strategic issues, including the business environment, the market itself, the corporate mission statement, competitors, and organisational capabilities.
Organisations can adapt their marketing plan to suit the circumstances and their requirements.
Mission statement is a straightforward statement that shows why an organisation is in business, provides basic guidelines for further planning, and establishes broad parameters for the future.
Corporate objectives are most important goals the organisation as a whole wishes to achieve within a specified period of time, say one or five years.
Marketing audit is done to check all the aspects of business directly related to marketing department. It is a look at organisation's marketing efforts, and its strengths, weaknesses, opportunities, and threats related to marketing functions. USP of a product can be the example of strength, whereas lack of innovation can be the example of weakness.
Festive season can be an example of opportunity to make maximum sales, whereas increasing FDI in a nation can be the example of threat to domestic players of that nation.

This may involve spending money on advertising, launching new products, interacting with potential new customers, opening new retail outlets etc. They will help you quickly understand how to make the most of the technique through definitions and recommendations on our member resources and blog articles covering strategy, best practices and the latest statistics. If you're new to Smart Insights we recommend another free download, our Digital marketing strategy template. A A strategy process model provides a framework that gives a logical sequence to follow toA ensure inclusion of all key activities of strategy development and implementation. Unusual since it's an offline magazine, but these editorial articles often cover digital strategy and are accessible by industry. Quality commentary on the intersection of marketing and technology strategy, but unfortunately, not a well tagged blog. However, some perceive the planning process to be flawed and a waste of resources, perhaps rightly so. He suggests to implement any plan successfully assumes future events fall into place as predicted and that rarely (if ever) happens in reality. Perhaps this is the reason so many strategic marketing plans end up on the shelf gathering dust. Some assumptions need to be made so scenario building is a far from perfect science but it does allow a business to at least be prepared should the predicted events unfold.
It is then possible to play through these scenarios identify key risks and take appropriate decisions on how these risks may be mitigated. However, plans should always be constructed with a degree of flexibility so that they may be modified (or abandoned) if necessary. Marketing planning process involves both the development of objectives and specifications for how to achieve the objectives.
It is done not only at the beginning of the marketing planning process but, also at a series of points during the implementation of plan. Without proper forecasting, the marketing plan could have unrealistic goals or fall short on what is promised to deliver. The well thought out plan and process fails to survive the first series of events that do not fit with what was predicted.
It is also possible to identify opportunities that may not be a priority but are worth further investigation.
With alternative scenarios considered the business is then well placed to react as necessary and the strategic plan becomes a living document. The marketing audit clarifies opportunities and threats, so that required alterations can be done to the plan if necessary.

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