The Science of Marketing

Drew’s Marketing Minute points out that while companies should have a marketing plan and budget, most don’t. How true!

Companies have a financial plan, a sales plan, a manufacturing plan, even a holiday plan. So, why don’t they consistently take the time to build a marketing plan?

Marketing programs are often executed in a reactive manner based on near-term priorities. Product collateral is printed for an impending event, presentations are developed based on an urgent request from the sales team and a news release needs to be written right away to tell the market about a great new product feature. However, while near-term priorities always seem to be most important, allowing them to take over can lead to ad hoc marketing programs that cause an inconsistent market perception, a misunderstood corporate identity, missed opportunities and general confusion among executives, employees and most importantly, customers.

To avoid these marketing pitfalls, every marketing department should develop a yearly marketing plan that aligns marketing strategies, tactics and dollars with business priorities. This business-driven marketing plan should begin by outlining the overarching corporate strategies that define why a company is in business, including the corporate goals, mission, vision and target markets. It is important to include corporate strategies in the marketing plan to provide a business context on which to build a story, execute programs and measure success.

As George Burns might have said in Oh, God! "without plans, nothing would ever get done." So, don’t be naughty this holiday season, develop a marketing plan.

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