ABSTRACT
Marketing planning is widely acknowledged as critical to the success of organizations. Marketing planning is a process organizations go through which follows a logical sequence
and leads to the formulation of objectives, strategies and tactics (McDonald 1982). Denison and McDonald (1995) showed that marketing planning in outstanding organizations occurs at three levels: the cultural level which refl ects an organization’s values and benefi ts, the strategic level which includes decisions about long-term directions and typically involves the use of tools such as market segmentation and product positioning and the tactical level at which the organization plans how to best use the marketing toolbox (product, price, promotion and place) to achieve their strategic aims (McDonald 1996).
