Macdonald (1995) suggests that several stages have to be completed in order to arrive at a strategic marketing plan. These are summarised in the diagram below:

Marketing Planning Process (Macdonald)

The extent to which each part of the above process needs to be carried out depends on the size and complexity of the business.

In a small or undiversified business, where senior management have a strong knowledge and detailed understanding of the overall business, it may not be necessary to formalise the marketing planning process.

By contrast, in a highly diversified business, top level management will not have knowledge and expertise that matches subordinate management. In this situation, it makes sense to put formal marketing planning procedures in place throughout the organisation.

From the diagram, the main components of a marketing plan can be summarised as:

Main Stages of Marketing Planning
Featured
CPD courses

WOW! Business 2015

WOW! Business 2015, tutor2u's resource packed CPD for ALL business teachers, provides delegates with a brand new set of teaching resources and effective approaches that can be used immediately within the classroom. Not to be missed!

Learn more ›

Teaching & learning products

Edexcel A Level Business Year 1 (AS) Lesson Worksheets and Case Studies

This resource comprises a complete collection of editable lesson topic worksheets and exam-style case studies that are ideal for teaching individual topics for the whole Year 1 (AS) teaching content. Each lesson topic worksheet and case study has a consistent, clear and professional format and maps precisely to the specification teaching content.

£75.00

AQA BUSS3 Revision Guide

The leading quick revision guide for BUSS3. This 20 page full colour guide provides a concise overview on the key knowledge that students need to apply to the BUSS3 exam case study together with advice on exam technique.

£4.00