Strategic Marketing Planning: Theory and Practice1

The Marketing Review, 2006, 6, 375-418 ISSN1469-347X print / ISSN 1472-1384 online Westburn Publishers Ltd. Strategic Marketing planning : Theory and Practice1 Malcolm McDonald 2, Cranfield University School of Management In order to explore the complexities of developing a Strategic Marketing plan, this article is written in three parts. The first describes the Strategic Marketing planning process itself and the key steps within it. It also deals with implementation issues and barriers to Marketing planning . The second part provides guidelines for the marketer which will ensure that the input to the Marketing plan is customer focused and considers the Strategic dimension of all of the relationships the organization has with its business environment. The third part provides a brief overview of a process for assessing whether the Strategic Marketing plan creates or destroys shareholder value, having taken account of the risks associated with the plan, the time value of money and the cost of capital.

planning process, how it should be done and what the barriers are to doing it effectively. We are, of course, referring specifically to the second box in Figure 1. The Marketing Planning Process Most managers accept that some kind of procedure for marketing planning is necessary. Accordingly they need a system which will help them to think

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  Process, Planning, Marketing, Planning process, Marketing planning, Marketing planning process

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