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Related Experiment Videos

Strategic planning for marketers.

I Wilson

    Business Horizons
    |November 8, 1978
    PubMed
    Summary
    This summary is machine-generated.

    Strategic planning, a long-term marketing approach, involves forecasting future market conditions and preparing multiple scenarios. This proactive strategy enhances corporate flexibility and reduces reactive responses to market changes.

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    Area of Science:

    • Marketing Strategy
    • Business Management

    Background:

    • Marketers often claim future-orientation but neglect long-term planning and forecasting.
    • Conventional marketing strategy relies heavily on past performance as a future predictor.

    Purpose of the Study:

    • To discuss the merits of strategic planning as a marketing tool.
    • To advocate for a more future-oriented approach in marketing strategy.

    Main Methods:

    • Defined strategic planning over 5-25 year periods.
    • Emphasized a probabilistic view of the future.
    • Analyzed inputs considering environmental, social, political, technological, and economic factors.
    • Recommended developing alternative future scenarios.

    Main Results:

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    • Strategic planning offers a more flexible approach than conventional marketing.
    • Corporations can better anticipate future events by planning for a wide range of market conditions.
    • Reduces the likelihood of corporations becoming reactive to market changes.

    Conclusions:

    • Strategic planning is a superior marketing tool for long-term success.
    • Adopting strategic planning enhances corporate adaptability and resilience.
    • A probabilistic, scenario-based approach is crucial for future-oriented marketing.