What Are the Barriers to Marketing Planning for a Company?

Budgetary Constraints

At one time or another, almost every VP of marketing becomes frustrated that there is not enough money in the marketing budget to accomplish all of the objectives he was hoping to. For companies of all sizes, it is a fact of life that every department within the organization has to live with budgetary constraints and use each dollar as efficiently as possible. Marketing planning can be especially difficult during economic downturns when some companies have to reduce their marketing budgets, including funds for advertising.

Lack of Customer Knowledge

Companies that are most successful over the long term are adept at bringing products and services to the market that fit extremely well with current customer needs -- they provide benefits that are most sought after by customers, whether other businesses or consumers. Companies often set themselves up for failure by not truly understanding what these needs are and offering products or services that customers simply aren't that enthusiastic about purchasing. The marketing department is charged with crafting a message that grabs the target customers' attention. A lack of understanding of customers needs, problems and lifestyles can cause the company's marketing message to be diluted, misunderstood or even ignored.

Lack of Competitive Intelligence

Your marketing plan must spell out exactly how your company will differentiate itself from its most formidable competitors. If you don't understand the reasons why competitors are consistently able to attract customers, it is extremely difficult to come up with an offering that is even more attractive. Without gathering sufficient information about competitors, a company may underestimate a competitor's strengths brand name recognition, for example. In addition, you must develop contingency plans to deal with strategic moves made by competitors.

Absence of a True Competitive Advantage

A marketing plan is used to "sell"...