Dr. William Laing Marketing and Business Plans Business 300 July 27, 2012

Page 2 Marketing and Business Plans Planning helps an organization chart a course for the achievement of its goals. The process begins with reviewing the current operations of the organization and identifying what needs to be improved operationally in the upcoming year. From there, planning involves envisioning the results the organization wants to achieve, and determining the steps necessary to arrive at the intended destination--success, whether that is measured in financial terms, or goals that include being the highest-rated organization in customer satisfaction. “Planning helps organizations get a realistic view of their current strengths and weaknesses relative to major competitors. The management team sees areas where competitors may be vulnerable and then crafts marketing strategies to take advantage of these weaknesses. Observing competitors’ actions can also help organizations identify opportunities they may have overlooked, such as emerging international markets or opportunities to market products to completely different customer groups.” “Although marketing plays an important role, it will not guarantee sales unless by doing it with a laid out plan. A well-researched and logical plan is important to have a better chance of building a long-term profitable relationship. A marketing plan will serve as a reference or your basis to execute a marketing strategy. By laying out plans, it will set out a clear objective and explains how you will achieve them.