Importance of Marketing Planning

Diffusion
“Is the adoption of new products or services over time by consumers within social systems, as encouraged by marketing. Diffusion refers to the cumulative percentage of potential adopters of a new product or service over time” (McDonald, 1999:176)

First time purchasers can be classified according to innovativeness
Everett Rogers
Innovators (2.5%)
Early adopters (13.5%)
Early majority (34%)
Late majority (34%)
Laggards (16%)

New marketing development
Marketing audit
SWOT
Opportunity identification, screening, business analysis
Product development, testing and entry planning.…