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    Market planning and essential components of market planning

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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? 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?

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    Why is planning important in marketing?

    Planning in marketing is important because it defines the steps that the marketing team must take to ensure the success of their marketing efforts. Since marketing plays an important part in the firm's success, a comprehensive marketing plan is required. It ensures that the company does not waste its resources and that marketing strategies are aligned ...

    Solution Summary

    This solution details why market planning is important. It also looks at the the essential components of market planning

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