Critical Review of the Current Issues Facing Academia or Practitioners, Answering the Dilemma: Planning Is Neither Within the Grasps of Contemporary Marketers, nor a Realistic Possibility?
In the twenty-first century, global economic conditions create incentives for new market entry and expansion strategies, the environmental factors affecting these strategies become more and more complex with intense completive pressures and the speed of technological change. All companies need strategies to meet changing markets. No one strategy is …show more content…
However, there can be little doubt that marketing planning is essential when we consider the increasingly hostile and complex environment in which companies operate. The formal planning is less useful in a fast-changing environment makes little sense. Therefore many managers resist spend too much time to prepare a written plan, they normally use sound planning helps the company to anticipate and respond quickly to environmental changes, and to prepare better for sudden developments. For example, such planning could have helped Carrefour, Europe’s largest retailer, avoid their share price collapse after they were first dismissive of the impact of the internet on their business and then announced a vague, €1 billion e-commerce strategy (Kotler, et al, 2005). Besides, that, according to McDonald's study, he discovered that 90 percent of the industrial goods companies did no practise the kinds of systematic planning procedure and, the highest estimate of companies getting marketing planning right was 25 per cent in six other studies in American, British and Australian universities, while those companies that do not engage in formalized planning sometimes do well (Mcdonald, 2002).
Failing to plan means planning to fail (Kotler, 1999). These problems included there are often being little or no