Planning for Global Markets

Author Topic: Planning for Global Markets  (Read 431 times)

Offline Shah Alam Kabir Pramanik

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Planning for Global Markets
« on: April 11, 2017, 10:03:47 AM »
In general sense, planning is an intention or decision about what one is going to do. In broad sense, planning is systematic way of relating to the future. It is an attempt to manage the effects of external, uncontrollable factors in the firm’s strengths, weaknesses, objectives and goals to attain a desired end.

In other word, planning is a commitment of resources to a country market to achieve specific goals.

International marketing planning and global marketing planning is not different in their principles but there are some differences between them. On the basis of operating environment, organizational structure and the task of controlling a multinational operation create differences in the complexity and process of international planning.

Planning allows a rapid growth of international function, changing market, increasing competition and to face the challenges of international market.
Planning may be various types based on their structure:
1.   Corporate planning
2.   Strategic  planning
3.   Tactical planning.
These are described in below briefly
1. Corporate planning: Corporate planning is essentially long-term, incorporating generalized goals for the enterprise as a whole.
2. Strategic planning: Strategic planning is conducted at the highest levels of management and deals with product, capital and research and long and short-term goals of the company.

3. Tactical planning: Tactical planning or market planning pertains to specific actions and to the allocation of resources used to implement strategic planning goals in specific market.
In each stage of planning, company objectives and resources must be analyzed and evaluated. In international planning there must be an international commitment of the management and planning board of the company.