ABSTRACT
This chapter explores why allocating resources using strategic planning is critical to marketing success; what is meant when it is said that an organization has a marketing mindset; how will using the components of marketing fulfill both the needs of the organization and those of the customer; and why should a business take the time and effort to write a marketing plan. The marketing plan starts with writing the mission, vision, and values of the organization. A strategic marketing plan will usually state the goals in terms of the marketing components that will be affected such as the target market, product, price, distribution, and promotion. What is unique about having a marketing mindset is that it means the marketer is focused on the external environment, including competitors and customers rather than only internally on the organization and its product. One of the key benefits of a marketing plan is that it provides for accountability and reduces duplication.
