The Marketing Plan

Read this chapter, which discusses marketing planning roles, the parts and functions of the marketing plan, forecasting, and the structure of a marketing plan audit. It also discusses PEST Analysis and other external factors that affect marketing decisions. This chapter reviews other concepts we've discussed so far. Key takeaways include the steps in the forecasting process. You will be able to identify types of forecasting methods and their advantages and disadvantages and discuss the methods used to improve the accuracy of forecasts. Lastly, you will apply marketing planning processes to ongoing business settings and identify the role of the marketing audit. Answer the discussion questions at the end of the chapter.

DISCUSSION QUESTIONS

Activities

  1. Pick a product with which you are very familiar and create a simple marketing plan for it. Focus on one market segment.
  2. Conduct an audit of a company's marketing plan as if you were a consultant. Selecting a relatively new consumer product may be easier because it is likely to have more press available that you can use for data.