Often, when working under pressure to put the plan together, financial forecasts get overstated or are unrealistic which is not looked upon favorably by loan officers. While presentation to financial institutions certainly should be a consideration in how business plans are written, it should be secondary.
The scientific literature reveals two different options in strategic marketing planning: The European option characterizes the strategic marketing planning as definition of the goals, situation analysis and marketing strategy development.
However American option maintains that strategic marketing plan- ning should start with situation analysis then continues with definition of goals and end with marketing strategy development.
Consequently, two different approaches to strategic marketing planning are segregated in this arti- cle: This study is based on theoretical analysis and performed contrasting two geographically formed approaches to strategic marketing management.
The environment, in which the strategic market- ing planning takes place, has an important effect on how the process is carried out. Historically, the busi- ness environment was different in different regions; this had a crucial impact on the formation of strategic planning paradigm.
Scholars of marketing manage- ment stand for one of the paradigm that represents the view of contingency in the business and its strategic planning.
Some early scholars from the countries of less complex business environment still argue that strategic marketing planning could start from strategic intent.
Others argue that strategic market- ing planning could start from environment analysis and indicate the value that the business needs to de- liver to the customers .
These scholars represent the countries of high complexity and uncertainty in the business environment that is called contingency. It represents the idea that there is no universal way to manage an organization and the idea of design of an organization that fits the envi- ronment.
These scholars substanti- ated the relationship between the organizational envi- ronments and the completeness of the long-term plan- ning process.
In the later research the contingency was analyzed as a business-natural environment inter- face. It was expected that busi- nesses would use not only different strategy when confronting a new context, but would also apply dif- ferent strategy development process. The contingency approach is not a universal atti- tude towards the marketing planning.
Donaldson had named the contingency approach as a step backwards in the progress of organization theory . As a re- sult, the strategic intent approach is still an actual way of thinking in strategic marketing.
A significant amount of theoretical development has been done in the areas of strategic marketing planning, but much is still to be done in finding the most appropriate ap- proach to marketing planning in high velocity envi- ronment.
From the practical standpoint, this article provides understanding about the most appropriate model of strategic marketing planning in high velocity environment.
European approaches to strategic marketing planning The European approach to strategic marketing planning is based on strategic intent. Strategic intent is a useful concept in accounting for purpose and con- tinuity of goals in an organization adapting to internal and external developmental pressures.
The firs step in this process is to identify the business mission and its goals . There have been four approaches selected for the purpose of clarifying the point of view of the Euro- pean scholars towards the strategic marketing plan- ning process.
The approaches chosen are: McDonald  and J. Most scholars agree that the strategic marketing planning process is inseparable from its implementa- tion control evaluation. European scholars suggest from five to 10 strategic marketing planning steps. The analysis of a variety of different approaches in Europe sug- gests that European approaches tend to logically break up the planning into three stages:Strategic marketing planning has received increasing attention over the last decade as a valuable weapon in the battle for long-term success in today’s competitive environment.
At Paradigm Strategies, strategic planning is a critical part of a successful business. We guide the development of a customized, strategic plan that supports your goals but also considers your business needs and the issues that are inhibiting your growth and success.
Paradigm Marketing and Design is an Award Winning Web Design and Digital Marketing Agency in New Jersey. Director & Owner at Paradigm Consulting Ltd.
Location Hong Kong Industry Financial Services. Current: media relations and marketing within the financial sector.
Good experience in both Europe and Asia. press releases, promotional materials, relationship management, research reports, strategic marketing, strategic planning. Experience.
Strategic Marketing Planning; A Troubled Paradigm An explicit assumption of much marketing scholarship (Goetsch ; Kotler ), is the taken for granted assumption of the universal applicability of the strategic marketing planning process.
SIX Marketing, Paradigm Associates. July – Present 6 years 5 months. Saratoga, NY. WHAT I DO: Strategic thinking, marketing planning, and tactically implementing changes in the overall Industry: Marketing and Advertising.