Marketing Planning

1.1 What is the importance of marketing planning for your company and reviewchanging perspectives in marketing planning SMART Consultants is a medium sized British company that offers HR IT solutions for a variety of companies across London and Manchester, UK, including corporates. Its concept of marketing plan is a market plan which begins with the identification of specific customer needs and how the firm intends to fulfil them while generating an acceptable level of return. It generally includes analysis of the current market situation (opportunities and trends) and detailed action programs, budgets, sales forecasts, strategies, and projected statements. Changing perspective of marketing planning from 4Ps to 7Ps.The 4 Ps can be defined as “Putting the right product in the right place, at the right price, at the right time.” "Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4Ps is one way – probably the best-known way – of defining the marketing mix, and was first expressed in 1960 by E J McCarthy. The 4Ps are: Product (or Service), Place, Price and Promotion.   But in order to beat the financial crisis my business has to add value to the market and extend from 4Ps to 7Ps.   The added three extended ‘service mix P’s' are Participants, Physical evidence and Processes, and later Participants was renamed People. The 7Ps helps my company to review and define key issues that affect the marketing of its products and services and is often now referred to as the 7Ps framework for the digital marketing mix.   * Push vs. Pull - Some modern marketing planning rejects the traditional approach because it assumes that a marketer can push products into the marketplace. A newer marketing theory suggests that company can pull customers toward them by providing quality information and authentic presentations.   * Situation Analysis of environment &...