Marketing strategy assignment essay on: Marketing plan for business

Marketing strategy assignment essay on: Marketing plan for business

This paper Consist information about marketing plan that focuses and provides in depth information on definition of marketing plan, role and nature of marketing plan, relationship between marketing plan and business plan, structure of marketing plan, elements of marketing plan and their relevance in the marketing plan. The paper divide in several sections that contains all the above topics that provides complete information about marketing plan.

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To design and develop an effective and successful business required good marketing plan that create successful path for the company. A good marketing plan contains and required good, essential elements that define the success and failure of the company. For better and effective outcomes or results business needs to understand the customers’ needs. Marketing is a systematic approach through which organization can reach out to the customers, identify their needs and serve those needs through different products and services with profitability. Marketing plan also provide key and essential information about the customers’ needs. So, the purpose of the key element of the marketing plan is to identify and update the information about the requirement of the customers and design and define the overall marketing plan that provides positive and complete information about the actual needs of customers to serve those needs through products and services with profitability by the company for success. (Offord, 2012)

The required essential elements of all marketing plans should include several sections/ topics that are as followings:

Mission: This section defines the goal of the organization that needs to achieve in future through the proposed and introduced marketing plan like create awareness, Demonstrate or sell product or services of the organization, develop strong relationship, To run PR (public relation) activities, increase customers’ services and support functions, collect some input from customers that enhance the organization performance and the goal can be define as per the situation and requirement.

Objective: In this section the marketer define the future achievement that needs to achieve through marketing plan and this objective should be specific and measurable. There is difference between goal and objective. Goal are intangible, broad and cannot quantify whereas the objective is more specific, precise, quantify and measurable.

Target audience: This element provides information about the target market and customers. To identify the target market and customers is the first of the company to achieve success. The relevance of the element is to understand the actual customers and their needs to fulfill the requirement in better manner through products and services. Target market may be same where company providing their services from last so many years or it can be new market that leads expansion plan of the company.

Marketing strategy: This is very important section in marketing plan that define the each and everything about the overall marketing strategies to achieve per defined objective. This section focuses on all key aspects and marketing mix products, price, place, promotion, people, physical evidence and process. All the key essential factors provide and help to understand the whole business and focuses on benefits that will be get from the products and services, communicate these benefits to the consumers and also define the different paths through which the company positioned them in the competitive market.

Marketing communication integration: This section design and take care by the MARCOM (marketing and communication) team. Marketing communication integration focuses on all the key tools and techniques that will be use to communicate the message to the consumers about the products and services. Selection of right and effective channels and communication mediums for effective communication is essential part of the marketing communication integration. All the channels and mediums selection follow the budget and defined as per target customers. Proper information about the customer’s segment and target market plays very important role in selection of marketing mediums and channels.

Budget, result and financial analysis: This section provides an overview of all types of costs that is included or involve in implementing the introduced and proposed marketing plan. This is very important for any plan. Each and every plan carries certain costs. Before planning each organization measure the cost and also focuses on their funds. A financial analysis, budget indicate and cover all the key aspects that related with cost and design and define the marketing is such manner that implementation will be come under pre defined budget.

Benefits: In the above section the paper clearly discussed and focused on the importance of the all key elements of marketing plan that indicate for success of any marketing plan required structured and step by step process. Benefit section focuses on the future outcomes, if introduce and propose marketing plan execute successfully in the business.

Timelines: Timelines indicate the time for each activities and plans that will be complete for better outcomes. This section provides timelines for all the required plans for implementation.

Marketing plan

The marketing plan focus on the purpose of describing the current marketing elements and it describes about the current position of the market. Marketing plan covers the clear goals and objectives of the business and helps to achieve the success. In the marketing plan, there is a description of the demand of the product, service or there is a discussion on strengths and weakness from the competitor’s point of view. (Duermyer, 2012)

It is helpful to reach the goals and while preparing a marketing plan, certain important factors help in understanding the importance of situational analysis, the target group of customer and the goals, strategies and tactics and budget breakdown etc. The marketing plan helps to achieve the business performance. (Ignitebusinessservices.com, 2009)

Relationship between marketing plan and business plan

The marketing plan deals with actions and behavior that helps to achieve the goals and mission of the company. This also generates high level of target customer and increased participation among the companies.

The business plan includes details about the marketing and financial perspectives. This defines the vision and goals of the company and this determines the competitive strategies. (Smith, 2012)

Generally the marketing plan consists of sales and marketing planning and offers additional strategy and market analysis that is associated with forecast and past research. Marketing plan helps in describing the needs of the potential customer and this ensures to improve the customer’s needs including factors associat…………..