In the context of marketing planning, why is it vital that the marketing plan be capable of selling itself to top management?Group of answer choicesBecause top managers must ensure that the marketing program is successfulBecause top managers are compensated on how well the marketing strategy works.Because top managers are responsible for executing the marketing plan.Because top managers must decide whether the marketing plan is the best use for the organization’s scarce resourcesBecause top managers must be able to clearly communicate the strategy to external stakeholders.
Question
In the context of marketing planning, why is it vital that the marketing plan be capable of selling itself to top management?Group of answer choicesBecause top managers must ensure that the marketing program is successfulBecause top managers are compensated on how well the marketing strategy works.Because top managers are responsible for executing the marketing plan.Because top managers must decide whether the marketing plan is the best use for the organization’s scarce resourcesBecause top managers must be able to clearly communicate the strategy to external stakeholders.
Solution
The marketing plan needs to be capable of selling itself to top management for several reasons:
-
Top managers must ensure that the marketing program is successful: The success of the marketing program directly impacts the overall success of the organization. Therefore, top managers need to be convinced of the plan's potential for success.
-
Top managers are compensated on how well the marketing strategy works: In many organizations, the compensation of top managers is tied to the performance of the company. If the marketing strategy works well, it can lead to increased sales and profits, which can result in higher compensation for top managers.
-
Top managers are responsible for executing the marketing plan: Even though the marketing department may develop the plan, top management is often responsible for its execution. Therefore, they need to fully understand and believe in the plan.
-
Top managers must decide whether the marketing plan is the best use for the organization’s scarce resources: Resources are always limited, and there are often many competing demands for these resources. Top managers need to be convinced that investing in the marketing plan will provide a good return on investment.
-
Top managers must be able to clearly communicate the strategy to external stakeholders: Stakeholders such as investors, customers, and partners often look to top management for information about the company's direction. If top managers believe in the marketing plan, they will be better able to communicate its benefits to these external stakeholders.
Similar Questions
The top management of a company is most likely to be involved inMultiple Choiceselling and promoting products and services to the final consumers.supervising workers and the daily operations of an organization.making decisions about moving into foreign markets.implementing the plans established by middle management.
When approving the marketing plan, which of the following questions will a top manager ask? Group of answer choicesWill the proposed marketing plan achieve the desired marketing, business unit, and corporate goals and objectives?What are our responsibilities with respect to being a good steward of our human, financial, and environmental resources?How will this marketing plan serve to define the organization as a whole? How will this marketing plan impact the company's reputation among stakeholders? What are the types of controls we will use to measure the success of the proposed marketing plan?
Marketing Planning is the structured process that leads to a coordinated set of marketing decisions and actions, for a specific organization and over a specific period, based on exceptQuestion 9Answera.Support through customer service and internal marketing programmes.b.Clear marketing direction, objectives, strategies and programmes for targeted customer segmentsc.An analysis of the current internal and external situation, including markets and customers.d.Non of these
What is the primary objective of a marketing plan?
The CEO and top managers use ______ to communicate to their managers and other employees a compelling vision of what they want the organization to accomplish..Multiple choice question.establishing major goalsstrategic leadershipcompelling leadershiptactical planning
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.