What is the purpose of a marketing plan?

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What is the purpose of a marketing plan?“; It is a question that must be answered to start any business or startup.

Starting production and investment activities is always accompanied by scientific study and planning. In large companies, before the start of production operations, the research and marketing group begins its activities to assess the feasibility of product acceptance and market needs.

A marketing plan, like other plans, including a business plan, is one of the most important plans in marketing. With a marketing plan or blueprint, you can advance the company’s marketing goals with a detailed implementation plan.

What is a marketing plan?

The most important parts of the marketing plan are the pricing policy, implementation details, and product distribution efforts.
Using sales processes, sales periods, pricing policies, etc., to push the business forward

What are the benefits of a marketing plan?

The marketing plan will create significant advantages for organizations and companies. Some of these benefits include:

  • Better use of company resources
  • Recognizing marketing opportunities
  • Strengthening collective morale
  • Establishing organizational identity
  • Helping the organization achieve its goals

What is a business plan?

A marketing plan or a comprehensive plan (campaign) to achieve marketing objectives, which include long-term and medium-term goals; will help you establish and implement the company’s marketing strategy.

The marketing program at the organizational or business unit or product level (e.g. product line) helps to change the concept of a product or service, to better understand the needs of the target customer community, and to achieve the company’s sales expectations, market share, etc…

The marketing plan or marketing plan states exactly what the company will do to provide the product and support the old product, this plan defines the path and details of the organization’s marketing manager.

In short, a marketing plan is a plan that defines your marketing strategy, tactics, and goals for a specific period.
In a separate article, we have written completely about the business model. Read it if you want

Why do we need a marketing plan?

The marketing plan describes the sales, promotional activities, pricing policy, and initiatives (locations) related to the distribution of goods. How to control the process and measure the results is part of your marketing plan. Marketing plans are confidential and their details are not available to competitors.
marketing plan

What Features Does a Marketing Plan Include?

1) Marketing Objectives: Marketing objectives can be set after analyzing the organization’s current position, competitors, and market conditions. The primary goal of marketing programs is to create a balance and fit between an organization’s products and its target markets.
Goals should be definable or specific, measurable, agreed upon by stakeholders, realistic and time-bound, or SMART!

 

2) Marketing strategy: Marketing strategy is a method of achieving marketing objectives. Strategies describe the method chosen to achieve a given goal and the means to achieve that goal within a time frame. Of course, these methods do not include details of the work that is followed daily. In general, marketing strategies are related to the marketing mix (product, price, promotion, and distribution).
It consists of the process of converting strategies into plans. Each roadmap contains the current position of the company. Company goals and activities Responsibility Start and end time and costs
In general, a marketing plan carefully defines and defines what is needed to introduce new products and support old products. Marketing planning refers to the process of marketing and promotion and incentive activities, pricing policy, and product distribution in the target market. How monitor and evaluate the effectiveness of program results is also part of the marketing program.
A marketing mix or 4Ps or sometimes 8Ps is the set of marketing tools that an organization uses to achieve its marketing objectives.

The target market and the elements of the marketing mix, including product, service, price, location, and promotional activities, or the marketing mix or combination, also known as the 4Ps, mean that they are systematic and consistent. A relationship must be established between these components so that it can affect the user. The design and development of the marketing mix, also known as the “Four P 4Ps” or the “Eight P 8Ps“, is one of the main functions of a marketing manager, which we will talk about in detail in later articles.

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What is the structure of the marketing plan?

To be able to write an organization’s marketing plan, you need to know what a recovery plan consists of. Among the most important parts of the rehabilitation program, the following can be mentioned:

1. Executive Summary

It includes a text paragraph summarizing the plan’s activities and marketing plan’s accomplishments. This passage of text is the first meeting of the design’s audience and feedback on your program, which is considered a reflection of the vision behind the design.
Parts of the marketing plan
Quantitative figures such as the budget, amount of increase in revenues, and expenses are not directly stated and are expressed as a percentage of dollars (both 16% and 10%) if necessary.
It does not mention the details of strategic and operational aspects.
Usually, the names of business partners are not shown and, if necessary, they are called by the following names: partners, partner companies, business partners, business partners, and similar names.

2. Summary of the usual state of the company

This section contains all the relevant data analyzing the company’s strengths, weaknesses, opportunities, and threats. In this section, you should examine what are the strengths and weaknesses of your company or organization and determine the performance criteria of people based on them.

3. Assessment focused on market opportunities

This section includes a survey of the different target market segments, the customers and the assessment of their needs, and the competitive challenges faced by the companies and their products. This section is one of the most important sections to pay special attention to.

4. Financial and Marketing Objectives

Financial goals are usually presented as an improvement (or promotion) in additional revenue and are expected to bring benefits at the end of each planning period. One of the most important marketing goals can be mentioned as selling or developing market share.

5. Summary of the company’s marketing strategy

This summary shows the target market, how it is positioned, product line, distribution, and price. Also, this strategy will consider all the specific actions that will lead to the achievement of the stated objectives. These measures may include reorganization of the sales force, customer use of discounts, comprehensive national advertising programs, direct mail marketing programs, etc.

6. Operational and executive details

This section covers all functional and functional components along with the intended method of use Where calculations are possible, forecasts of the performance achieved in each functional follower segment (eg acquisitions, newsletter registrations, etc.) are displayed in this section.

7. Marketing budget for months

In this section, you should clearly state the budget you need to promote your marketing goals marketing budget is one of the most important parts of any marketing plan because without a budget no marketing plan can be implemented.

8. Monthly forecast of sales and income

In this section, you must specify exactly and completely how many sales the organization will make after marketing costs. This section is important for all business owners because they want to know how much revenue will bring for them against expenses.

9. Program for monitoring and evaluating the implementation of operational plans

In this part, you should monitor and evaluate your marketing plan. You should develop this section as a form of monitoring and measurement for your marketing plan. In this section, you can monitor the performance of the sales team, sales team, and related teams and evaluate their performance.

Conclusion

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You can turn to a targeted marketing plan to know how much budget you need for a specific month or period, or to know who your target groups are and what strategies you need, such as sales and product development. In this article, we tried to discuss the most important aspects of this program, so we will be happy to share your thoughts with us in the comments section.

Frequently Asked Questions

How much does it cost to design a recovery plan?
The cost of a marketing program usually depends on important parameters like type of organization, budget, human resources, etc.

Why should you have a recovery plan?
In this program, you will learn about the market situation, competition, sales plan, etc. have a detailed explanation, which will help you conduct marketing and sales activities accurately and wisely.

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