The marketing plan shows the step or actions that will be utilized in order to achieve the plan goals.For example, a marketing plan may include a strategy to increase the business's market share by fifteen percent.
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 marketing plan is a general responsibility from company leaders and the marketing staff to take the company in a specific direction.
After the strategies are laid out and the tasks are developed, each task is assigned to a person or a team for implementation.
A marketing plan may be part of an overall business plan.
Solid marketing strategy is the foundation of a well-written marketing plan.While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business.A marketing plan is a comprehensive document or blueprint that outlines the advertising and marketing efforts for the coming year.The marketing plan shows what the company is intended to accomplish within the budget and also to make it possible for company executives to assess potential return on the investment of marketing dollars.Different aspects of the marketing plan relate to accountability.The assigned roles allows companies to keep track of their milestones and communicate with the teams during the implementation process.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.Marketing planning can also be used to prepare a detailed case for introducing a new product, revamping current marketing strategies for an existing product or put together a company marketing plan to be included in the company corporate or business plan.One of the main purposes of developing a marketing plan is to set the company on a specific path in marketing.