Product Planning The Nature and Contents of a Marketing Plan

To carry out their responsibilities, marketing managers folJou a marketitig process. Working within the plans set by the levels above them, product managers come up with a marketing plan for individual products, lines, brands. channels, or customer groups. Each product level (product line, brand) must develop a marketing plan for achieving its goals. i\ marketing plan is a written document thai summarizes what the marketer has learned about the marketplace and Indicates how (he firm plans to reach its marketing objcc-inx'S-'1'1 it contains tactical guidelines for the marketing programs ant! financial alluea-lions over (he planning period."'1 it is one of the most important outputs of the marketing process,

Marketing plans are becoming more customer- and competitor-oriented and better reasoned ami more realistic than iu the past. I'he plans draw more inputs from all the functions and are team-developed. Marketing executives increasingly see themselves as professional managers first, and Specialists second. Planning is becoming a continuous process to respond to rapidly changing market conditions,

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