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Evidence on the Value of Strategic Planning in Marketing: How Much Planning Should a Marketing Planner Plan?

Author

Listed:
  • Armstrong, J. Scott
  • Reibstein, David J.

Abstract

What evidence exists on the value of formal planning for strategic decision-making in marketing? This paper reviews the evidence. This includes two tests of face validity. First, we use the market test: Are formal procedures used for marketing planning? Next, we examine expert prescriptions: What do they say is the best way to plan? More important than face validity, however, are tests of construct or predictive validity: What empirical evidence exists on the relative value of formal and informal approaches to marketing planning? The paper concludes with suggestions on the types of research that would be most useful for measuring the value of formal marketing planning.

Suggested Citation

  • Armstrong, J. Scott & Reibstein, David J., 1985. "Evidence on the Value of Strategic Planning in Marketing: How Much Planning Should a Marketing Planner Plan?," MPRA Paper 81680, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:81680
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    References listed on IDEAS

    as
    1. J. Scott Armstrong, 1982. "The value of formal planning for strategic decisions: Review of empirical research," Strategic Management Journal, Wiley Blackwell, vol. 3(3), pages 197-211, July.
    2. Paul C. Nutt, 1977. "An Experimental Comparison of the Effectiveness of Three Planning Methods," Management Science, INFORMS, vol. 23(5), pages 499-511, January.
    3. J. Scott Armstrong, 1986. "The value of formal planning for strategic decisions: Reply," Strategic Management Journal, Wiley Blackwell, vol. 7(2), pages 183-185, March.
    4. Armstrong, J. Scott, 1983. "Strategic Planning and Forecasting Fundamentals," MPRA Paper 81682, University Library of Munich, Germany.
    5. Wilson, Ian H. & George, William R. & Solomon, Paul J., 1978. "The practice of business : Strategic planning for marketers," Business Horizons, Elsevier, vol. 21(6), pages 65-73, December.
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    Cited by:

    1. J. Scott Armstrong, 1986. "The value of formal planning for strategic decisions: Reply," Strategic Management Journal, Wiley Blackwell, vol. 7(2), pages 183-185, March.
    2. Saari Ahmad & Noraini Othman, 2013. "Strategic Planning, Issues, Prospects and the Future of the Malaysian Herbal Industry," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(4), pages 91-102, October.
    3. J. Scott Armstrong & Philippe Jacquart, 2013. "The Ombudsman: Is the Evidence Sufficient to Take Action on Executive Pay? Reply to Commentators," Interfaces, INFORMS, vol. 43(6), pages 602-604, December.

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    More about this item

    Keywords

    marketing; strategic planning;

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy

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