AN ASSESSMENT OF MARKETING PLANNING AS A STRATEGY FOR EFFICIENT BUSINESS PERFORMANCE
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The study research on marketing planning as a strategy for business performance in Nigeria organization. Case study of unilever Nigeria plc Lagos.
In any business organization, marketing is very important aspect of entice activities and therefore proper planning and control have to be given to it so as to ensure effect and efficient maximization of profit which is the most important objective any business organization.
Marketing meaning may be part of overall business plan or may be separate from overall plan and assign to specific segment or department in an organization (usually marketing department) so as to ensure efficiently maximization of marketing objectives in sales oriented organization.
It was concluded that market planning complement the efforts of each other toward the marketing strategy for efficient business perform in an organization, marketing planning also serve as a major role in a firm over all marketing strategy o marketing efforts.
Marketing planning goals for the effective use of organization resources.
It also recommended as a function designs incentive pay plan to not only motivate and reward fraud line staff but also to align marketing activities with corporate mission.
1.1 INTRODUCTION TO THE STUDY
Marketing planning is a very vital and important management function in every organization in Nigeria.
Simon (2000) asserted that marketing process can be realized by the marketing mix and the last of all the proves is controlling what have been planned.
Establishing targets or standard in an organization in terms of marketing of its products and service is done in the marketing functions.
Marketing planning is inter- woven into the management function in the organization to ensure effective and efficient maximization of profit which of course is the most important aim of any organization.
Marketing planning can be define as a management function which involves setting goals and developing specific activities, procedures and schedules for meeting the organization marketing target.
Marketing planning is and important aspect in business organization because it land down ways in which the profit maximization of the business organization.
It is also process on how a very good arrangement is to be made regarding effective and efficient distribution of goods and services for consumers to be reached satisfaction and for substantial profit to be made by the organization, marketing activities must b properly planned.
The marketing plan could be short term medium and long term. A business tape of planning to be se: term of the periods it will cover.
Marketing planning may be port of an over all plans business plan or may be separate from every all plans and assign to a specific segment or department in an organization. (Usually marketing department) so as to ensure effective and efficient realization of marketing objectives.
In sales oriented organization marketing planning function designs incentive pay plans to not only motivate and reward frontline staff fairly but also to align marketing activities with corporate missions.
Marketing planning also involves collection, classification, analysis and interpretation of information observed through consumer’s feeling concerning the organizational product.
The marketing manager goes market to gather information regarding competitor’s actions and what were the views held by the consumers of the organization so as to be able to plan and forecast on how best to achieve the organization objectives.
The marketing planning is used to determine how the members of the public should be aware of organization product coping with trade promotion and improvement of sales.
Marketing planning is used to chance effective achievement of the organization goal which includes profit maximization, organization growth, etc.
1.2 STATEMENT OF PROBLEM
The focus of the research is to identify marketing planning as a strategy for business performance in the organization using unilever Nigeria plc as a case study.
Hence in the course of the study effort has been made to find solution to the following research problem:
• What is the relationship between marketing planning and business performance?
• What are the aims and objectives of marketing planning?
• What is the marketing strategy used in planning?
• Contribution of marketing planning to business process?
1.3 AIMS AND OBJECTIVE OF THE STUDY
The aims and objectives of marketing planning as a strategy for efficient business performance in an organization in Nigeria as the following:
• To enable the organization achieve its sc objective
• To has a perspective of the future and provides the basic direction guidance for marketing activities
• To set of controllable variable that a firm uses to influence the buyer response.
• To creation of a metrics frame work to monitor marketing performance and then develop and utilize marketing dash boards to manage marketing performance.
It enables the organization goals to be realistic through necessary performance made against future challenges.
• It enables provide opportunity to beat competitors.
1.4 SIGNIFICANT OF THE STUDY
The study will be beneficial to student of finance and management courses who intend to carry out similar research work on the subject matter.
It will be useful to business organization to understand what marketing planning is all about and to afford them the knowledge on the challenges faced in marketing planning and ways to over come those challenges.
It is also useful to the government as it will make them understand better the way marketing activities is been carried out for them to really ascertain their tax liability.