Marketing plans start with the identification of customer needs through a market research and how the business can satisfy these needs while generating an acceptable return.
This includes processes such as market situation analysis, action programs, budgets, sales forecasts, strategies and projected financial statements.
A marketing plan can also be described as a technique that helps a business to decide on the best use of its resources to achieve corporate objectives.
It can also contain a full analysis of the strengths and weaknesses of a company, its organization and its products.
The assigned roles allows companies to keep track of their milestones and communicate with the teams during the implementation process.
Example Of A Marketing Plan For A Business Tender Is The Night Essay Questions
Having a marketing plan helps company leaders to develop and keep an eye on the expectations for their functional areas.
For example, if a company's marketing plan goal is to increase sales growth then the company leaders may have to increase their sales staff in stores to help generate more sales.
The marketing plan offers a unique opportunity for a productive discussion between employees and leaders of an organization. The marketing plan also allows the marketing team to examine their past decisions and understand their results in order to better prepare for the future.
In a sales-oriented organization, the marketing planning function designs incentive pay plans to not only motivate and reward frontline staff fairly but also to align marketing activities with corporate mission.
The marketing plan basically aims to make the business provide the solution with the awareness with the expected customers.