I got it working.
the syntax for creating object array is
var columnsForInsert = [];
the syntax for creating object array is
var columnsForInsert = [];
columnsForInsert[0] = ["Title", productPlan];
columnsForInsert[1] = ["Product_x0020_Name", productName];
columnsForInsert[2] = ["Product_x0020_Plan_x0020_Categor", productPlanCategory];
columnsForInsert[3] = ["Fiscal_x0020_Year", fiscalYear];
columnsForInsert[4] = ["Plan_x0020_Status", planStatus];
....
....
....
....
// Create New List Item
$().SPServices({
operation: "UpdateListItems",
async: false,
batchCmd: "New",
listName: "SEB Product Planning",
valuepairs: columnsForInsert,
completefunc: function (xData, Status) {
alert("List Item successfully Created.");
}
}); // End of SPServices UpdateListItems