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MKT 421 Week 1 DQ 1.

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Assume you are the newly hired marketing manager of a company. As you spend time with other
peer marketing managers, you realize that the company does not place an emphasis on planning
within the marketing organization. Why is planning important in marketing? What are the
essential components of a marketing plan? How would you convince your supervisor that the
marketing department should produce formal marketing plans?
Assume you are the newly hired marketing manager of a company. As you spend time with other
peer marketing managers, you realize that the company does not place an emphasis on planning
within the marketing organization.
Why is planning important in marketing?
Planning is very important in all aspects of a business; especially in marketing. In marketing, one must
understand the marketplace and the customers’ needs. A strategic plan must be in place in order to
excel in the marketplace and to reach new customers and build a reputation to have the existing
customers to be loyal and return. Once a plan is in place, the marketing team can have goals to reach
and define areas to strengthen.
What are the essential components of a marketing plan?
The essential components of a marketing plan are called the SWOT analysis.
The SWOT analysis includes:
S – Strengths
W – Weaknesses
O – Opportunities
T – Threats
How would you convince your supervisor that the marketing department should produce formal
marketing plans?
I would convince my supervisor that it is very important to produce formal marketing plans by
scheduling a meeting. Since my supervisor is open to new ideas, it would be a perfect opportunity to
discuss how a formal marketing plan will help our business to grow. I would propose to my supervisor
that a committee should be formed to compile a formal marketing plan for the marketing department.
The mission statement, objectives of the business, the goals in which we would like to reach short-term
and long-term, and the strengths and weaknesses of the business can all be discussed. I would end the
meeting by expressing how a formal marketing plan would allow the business to be successful in
reaching the marketplace and the customers needs. I believe would I explain the importance of a
marketing plan to my supervisor; she will be on board to go forward with the plan.

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