Question

1) What is the role of marketing in strategic planning process? Explain how marketing works with its partners to create and deliver customer value. (Chapter-2)

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Answer 1

ANSWER :

Role of marketing in Strategic Planning process:

In any strategic planning process, marketing inputs are required in following aspects of any product service:

Creating value: Value creation is the primary responsibility of product team, marketing as a stakeholder here works as-

a). Being eyes and ear of company in the market, it helps in gathering customers' feedback and market aspirations, it work as the input for value creation.

b). In case of product/service upgrades or next gen product creation, it is importent to understand the market momentum and marketing works as a bridge to pass this knowldege not only from buyer but also from market and category perspective.

Communicate value: Value communication is the primary responsibility of the brand team. Here also marketing works as a key stakeholder because they are the executioners of communication strategy in market. Brand creates what to communicate and how to communicate. Marketing brings a perspective of receiver i.e. what the customer want to listen, where is the customer, what the sales channel's expectations from the communication strategy and most importently the viability of any communication plan at the ground level.

Delivering Value: Customer management is the key aspect when it comes to strategic planning, all the success of value creation and communication depends on if the same value is getting delivered to the customer and if customer is perveiving the same value from product/service. Marketing provides input in terms of hands of customer expectations, and localization of effort is required, what kind of customer services are there in market as being compared to competition and what is the "deligh factor" for customer.

Planning at all these level, need a stakeholder who can provide the feedback from customer/market perspective and can also analyse the viability of execution of communication and delivery of value and marketing plays critical role in this.