Businesses that succeed do so by creating and keeping customers. They do this by providing better value for the customer than the competition. Marketing management constantly have to assess which customers they are trying to reach and how they can design products and services that provide better value ("competitive advantage").
The main problem with this process is that the "environment" in which businesses operate is constantly changing. So a business must adapt to reflect changes in the environment and make decisions about how to change the marketing mix in order to succeed. This process of adapting and decision-making is known as marketing planning.
The objective of a strategic plan is to set the direction of a business and create its shape so that the products and services it provides meet the overall business objectives. Marketing has a key role to play in strategic planning, because it is the job of marketing management to understand and manage the links between the business and the "environment".
In our survey we tried to find out the link between different stages of developing a long term marketing plan. For our studies we have selected Sri Lanka Telecom Ltd. Detail analysis of the company and the telecommunication industry situations are given under respective tasks.
Sri Lanka Telecom (SLT) is the market leader in providing telecommunications services and it is the country's first Fixed Line Operator. With the acquisition of Mobitel in its entirety in October 2002, SLT became the country's only fully integrated telecommunications service provider to offer Voice, Data and Mobile Services.
Its principal activities include local and international telecommunications services, higher value Broadband and Internet products and services, and communication and IT solutions. In Sri Lanka, SLT serves over more than one million corporate and residential customers, as well as providing...