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.Tags: Cover Letter Postdoc BiologyArgumentative Essay How To WriteEssay Stories With Moral ValuesEssay On Authoritative ParentingTok Essays 2010Creative Writing Classes San FranciscoWords To Use In A Research Paper
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 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.
This "corporate mission" can be thought of as a definition of what the organization is, or what it does: "Our business is ...".
This definition should not be too narrow, or it will constrict the development of the organization; a too rigorous concentration on the view that "We are in the business of making meat-scales," as IBM was during the early 1900s, might have limited its subsequent development into other areas.It describes business activities involved in accomplishing specific marketing objectives within a set time frame.A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals.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.Thus, the definition of IBM's "corporate mission" in the 1940s might well have been: "We are in the business of handling accounting information [customer need] for the larger US organizations [customer group] by means of punched cards [technology]." Perhaps the most important factor in successful marketing is the "corporate vision." Surprisingly, it is largely neglected by marketing textbooks, although not by the popular exponents of corporate strategy — indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their "Superordinate Goals." "In Search of Excellence" said: "Nothing drives progress like the imagination.The idea precedes the deed." If the organization in general, and its chief executive in particular, has a strong vision of where its future lies, then there is a good chance that the organization will achieve a strong position in its markets (and attain that future).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.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.