In the present situation with a rapidly changing market, defragmentation of media and increased competitive pressures there is always going to uncertainty in predicting in short term and long term. This doesn’t mean that the role of strategic planning is dead and it is useless. The role needs to be revived. No strategy can be executed with certainty which is important to understand for successful execution. Successful strategic planning focuses on balancing the risk. A strategic planner can calculate the risks and develop a strategy accordingly. The development of scenarios allows a planner to take a sophisticated approach that can be implemented in varying situations. Scenario planning allows organizations to react to situations and utilize their resources to take advantage of situations. The other view is that the uncertainty is dealt with a rigid long term plan and then adjusts the plan according to the situation with a continuous monitoring of the plan.
The strategic planning has a long term action plan and it predicting the market plays a crucial role in the planning process. The question arises that no one can predict the future events 100% accurately so should there be any rigid marketing plans or not? In a market which is consistent and static, the strategic marketing planning is quite successful. The future in such markets is not predictable in absolute terms but in many ways it is reliable and a rigid plan can still be effective. In some cases the markets are stable enough which allows a company to operate with a long term rigid plan without any regular short term updates. In the current scenario it is hard to find a market which is stable and for every market there should be regular updates on the plan and the
In fluctuating markets a rigid strategic plan can cause a lot of harm to the company.