Marketing Plan

Topics: Marketing, Strategic management, Marketing plan Pages: 4 (1357 words) Published: April 9, 2005
A marketing plan is the key to business. Its purpose is to maximize the business' profits. As opportunities crop up or the business environment changes, the objective and marketing strategies in the plan will aim toward the best action. The marketing plan and the strategic marketing plan fit together in that both are essential for the success of a business. Without a strategic marketing plan, businesses can become uncertain in marketing efforts. The purpose of the strategic marketing plan is to help businesses reach their marketing goals. The marketing plan should be a comprehensible, succinct, and well thought out document that serves as a guide through the marketing program. It should focus on the objective of the marketing and the intent to carry out that objective. There are six major elements to creating a successful marketing plan. They are: purpose, target customer, benefits of the product or service, positioning, marketing tactics and marketing budget. The marketing plan's purpose may seem apparent, but by putting it up front and in writing, the business will stay focused on its intent. Many businesses think their marketing plan is about increased exposure, getting press, writing cool ads, and the like. These are not purposes, they are devices. The end result of any of these is to increase profits. There are two major instruments to the marketing plan. They are: how your enterprise will address the competitive marketplace and how you will put into practice and look after your day to day operations. It is of little value to have a strategy if the business lacks either the resources or the know-how to implement it. Because each strategy must address some unique considerations, it is not reasonable to identify every important factor at a basic level. The strategic marketing plan is made up of various components, one being the objective. The objective addresses the "big picture". The marketing strategy supports the objective; it defines...

References: Winer, Russell, S., 2004. Marketing Management – 2nd ed. Upper Saddle River, New Jersey: Prentice Hall
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Scope of Strategic Marketing Essay
  • The Marketing Strategies of Apple, Inc. Essay
  • Essay about Alternative Marketing Strategy Models
  • Marketing Management UBER Analysis Essay
  • Essay about Company and Marketing Strategy: Partnering to Build Customer Relationships
  • Marketing Plan Research Paper
  • Essay about Aramex Marketing Plan
  • marketing plan format Essay

Become a StudyMode Member

Sign Up - It's Free