What is planning model in SAP CEC-MKT-PLN - Planning for Marketing?

SAP Term: planning model

• Component: CEC-MKT-PLN

• Component Name: Planning for Marketing

• Description: A definition of a hierarchical structure that includes different dimensions, such as brand or market, for which budget planning is performed.

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• Key Concepts: 
  A planning model is a tool used in SAP CEC-MKT-PLN Planning for Marketing to create and manage marketing plans. It allows users to define the scope of their marketing activities, set objectives, and develop strategies to achieve those objectives. The planning model also provides a framework for tracking progress and measuring success.
  
  How to use it: 
  The planning model can be used to create a marketing plan by defining the scope of activities, setting objectives, and developing strategies. Once the plan is created, users can track progress and measure success by monitoring key performance indicators (KPIs). The planning model also allows users to adjust their plans as needed in order to achieve their desired outcomes.
  
  Tips & Tricks: 
  When creating a marketing plan using the planning model, it is important to consider all aspects of the plan including budget, timeline, resources, and KPIs. Additionally, it is important to review the plan regularly in order to ensure that it is still relevant and up-to-date.
  
  Related Information: 
  The planning model is part of SAP CEC-MKT-PLN Planning for Marketing, which also includes features such as budgeting, forecasting, and reporting. Additionally, there are other tools available that can be used in conjunction with the planning model such as analytics and customer relationship management (CRM) software.