The Planning Process

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Strategic Marketing Management
Natasha Tularam
Flashcards by Natasha Tularam, updated more than 1 year ago
Natasha Tularam
Created by Natasha Tularam about 8 years ago
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Question Answer
What is the Planning GAP? The difference between the Desired Outcome and the Likely Outcome.
Why is Planning Important? The Function of Planning is to minimise Conflict and to get the most for available resources.
What are the Benefits of Planning? 1. Reduce Risk- By taking into account all the likely out and creating a plan for them. 2. Reduce Uncertainty: People knows what is expected of them and when 3. Setting Targets and Standards: Targets & Objectives will be realistic. 4. Guidance: Gives clear instructions to the people involved 5. Gains Commitment: Acceptance+willing to work for it. 6. Improves Decision Making: Progress can be measured.
What is a Plan? A plan is the outcome of the Planning Process. It can be formal (Detailed & Written) or outlined ( Skeleton )
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