Summary
The annual marketing plan is crucial for driving the success of the marketing organization. It connects the long-term marketing strategy and vision with short-term objectives, priorities, goals, actions, risks, and dependencies. It helps allocate budget, assign responsibilities, establish expectations, and activate the marketing team. Additionally, it facilitates communication between the CMO and other corporate leaders, peer functions, and the marketing teams responsible for execution. This report highlights the challenges organizations face during plan development and the importance of a customer-obsessed approach combined with a proven marketing planning process to bring the marketing strategy to life.
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