Marketing Strategy Plan: What Will You Do If Your Strategic Planning Model Failed?

There is a saying that anyone who fails to plan, plans to fail. This may not be true in all aspects of life. It is possible for someone to plan but still fail due to one reason or the other. Every business requires a marketing strategy plan, which includes a workable strategic planning model. Experts with great insights in marketing have identified some models that will provide success.

What is a marketing audit?

A marketing audit refers to the process of planning a marketing strategy, which is usually conducted at any point of the implementation of the marketing process. The audit considers external (customer needs, competition etc.) and internal (price, promotion etc.) forces on strategic planning in marketing. Several factors could lead to the failure of any marketing model. What would you do if your strategic planning model failed? Consider the points below.

• Your marketing plan needs accurate revision.

It is useful for you to revisit your strategic marketing plans. Look out for any gaps. Review it to know where there are flaws in the plan. Check if there are any changes in market forces, consumer needs, consumer spending habits, and your competitors. Having identified and analyzing these than modify the plan and implement it.

• Marketing audit is useful.

There will be a need to do a marketing audit. As mentioned external and internal influences will have to be considered. Internal influences such as labour, finance, time, equipment, price, place, promotion and people must be examined. Also, external influences like customer needs, the effect of competition, the effects of culture and religion; all must be reviewed.

• Continuous improvement.

The need for continuous improvement will never disappear. Controlling your marketing budget must be taken care of. The use of an information system for improvement must be considered. Every other factor that will lead to overall improvement and growth of the company's objectives should be considered.

• Keep what works and discard the rest.

Having identified what works, retain and improve on it while you let go of the rest if it is not relevant. New ways to achieve better results must be sought at all times. There is no need to stick with processes or tactics, which give no result.

It is certain that if all these points are considered a failed marketing model can be recovered. Implement each point one after the other and recovery will be assured.

"Unless you're willing to have a go, fail miserably, and have another go, success won't happen." - Phillip Adams

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