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    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? Be specific and provide examples.

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    Planning is important in marketing in the sense that marketing environment can be very uncertain and an effective planning helps the marketeers to deal with changing market conditions, trends and risks with ease. Planning clarifies the future path, objectives and guidelines for the marketing team and help them in aligning such marketing plans with overall strategic plans.

    Planning removes all ambiguity and confusion with marketing plans and helps in resource allocation and policy formulation for the marketeers.

    The essential components of a marketing plan include:

    Situation ...

    Solution Summary

    This solution discusses why planning is important in marketing in 329 words.