Q2.

2.1. "Marketing plays a key role in a company's strategic planning

in several ways." Elaborate on this statement.

Marketing's Essential Role in Strategic Planning:

Marketing is the voice of the customer in strategic planning. It

brings crucial insights to the table in several ways:

1. Understanding the Market:

Market Research: Marketing conducts in-depth research to

understand the target audience, competitor landscape, and
industry trends. This data informs strategic decisions about product
development, pricing, and targeting.

Customer Insights: Marketing gathers feedback from customers to

understand their needs, wants, and pain points. This helps shape
the company's value proposition and messaging.

2. Aligning with Overall Goals:

Market-Oriented Strategy: Marketing translates the company's

vision and mission into actionable marketing objectives that align
with overall business goals.

Resource Allocation: Based on market analysis, marketing

recommends how to allocate resources (budget, marketing
channels) to achieve maximum impact.