Most of the errors in business committed because of misconceptions of the current state of affairs. As longer you are in the market, so more you know about it, or more precisely, you start thinking, that you know everything about the market you work.
One of the objectives of the strategic marketing planning – to compose objective picture of the market, to describe its participants, especially clients and competitors, to study the competitive advantages of market participants and learn the expectations and preferences of customers.
Although, strategic marketing planning first of all is the analytical work concerned new information and only in the second hand we can call it the research. The next problem, which solves the strategic marketing planning – a projection of market developments and setting goals and business objectives based on the general market conditions.
Marketing – is a great art. The most important in it are figures. Strategic marketing planning allows to develop a competitive business strategy or business model. A good strategic plan is full of ideas concerning development of your business. The better the plan, the more trashed out ideas. The main advantage of strategic marketing planning is considered to be the allowance to anticipate different kinds of risks and suggest your own ways to solve complex problems.
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Marketing is an art of business, and business – is a way of earning money.
So the problem of strategic marketing planning is a business development and growth of its revenues. This problem should be resolved harmoniously, using methods such as advertisement, mass communications, PR and GR.
The final stage of strategic marketing planning is an analysis of progress. At the end of present period of time it is necessary to evaluate which problems were achieved, what predictions have come true, how effective are marketing plans and how successfully managed to combine various communication tools. Stage of the study of achieved results is an important step in enhancing the effectiveness of strategic marketing planning. You can consider the strategic marketing planning rather successful, which are implemented in 70 per cent or more. Advancement of the project depends on specific market conditions – there are situations, when the implementation of even 30-40 % of the plan has already proven success.
The market is a dynamic system, the market is not static – it evolves, thus changing market conditions. What was true last year, will be forgotten the next. Strategic marketing plan is a product-to-date, its value doesn’t increase over the years, but decreases exponentially. That is why it‘ll be better not to create strategic business plans for over 3 years.
Illustrative business plan samples
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