What (if any) concepts, methods, approaches or ideas do you think are common between the set readings for this week? What is not common?
“The paradox of a marketing planning capability”
The marketing planning capability is a skill to anticipate the shape of an uncertain future. It also is a skill to generate alternatives for operating effectively in changing environments. It is a skill to implement new plans rapidly and efficiently as well.
The marketing plan content, marketing planning capability, incidence of improvisation from marketing plan and firm performance relative to competitors consists of the conceptual model. To know how marketing planning capability relates to plan content and the effect of the marketing plan, there are two dimensions: comprehensiveness and budgeting approach. The more comprehensive the plan, the credibility and utilization and the inertia in the organization will be higher. A comprehensive marketing plan covers a broad range of topics, in a thorough and exhaustive manner.
A rational budget directs resource allocation on sound economic principles. Post plan improvisation is improvisation after implementation of the plan has commenced and the performance is defined as profitability and brand equity, which over 5 years. The post plan improvisation relates to the extent to an organization acts and approved marketing plan. Unlearning is the most important factors in post plan improvisation, however, it is difficult. Planning, implementing, evaluating and evolving & improvising is the steps of post plan improvisation.
Method and analysis is quite important in this reading as well. There are three types of measures were used in methods: reflective multi-item measures, formative multi-item measures, and single-item measures.
“Management process in marketing planning” Marketing planning decision making is used to pursue dynamic market opportunities and flexibility is quite important to the marketing planning. The author’s models examine the ability to improvise and the flexibility of decision making is the key factor that directly influence ability to improvise which is consist of proactive management, innovative management, organizational learning, market orientation, spare resources and competitive aggression. On the other hand, there are some moderate relationships between these factors.
What concepts, methods, approaches or ideas in the set reading(s) do you think might be useful in Business and Marketing Planning? In what circumstances? Why? Due to the fast development, the organization not only needs opportunities but also needs to pursue the new opportunities. The traditional model has three inadequacies: managerial behavior, gap between theory and practice and coordinating role marketing planning. These inadequacies are not in favor of pursuing new opportunities.
However, the modeling management processes can solve these problems. For instance, during the development of an organization, if the senior manager made some mistakes, the organization has to face trouble which can be seen as a managerial behavior inadequacy. However, in new model, it will not happen. There are six factors which are proactive management, innovative management, organizational learning, market orientation, spare resources and competitive aggression can directly influence the flexibility of decision making.