Marketing planning is the process of defining a company's marketing strategy and tactics to achieve specific business goals. It involves analyzing the market, understanding customer needs, and identifying target audiences. A well-structured marketing plan outlines the objectives, budget, and methods for promoting products or services, ensuring that resources are used effectively. The marketing plan typically includes elements such as market research, competitive analysis, and marketing channels. By setting clear goals and measuring performance, businesses can adapt their strategies to changing market conditions and improve their overall effectiveness in reaching customers.