Marketing Plan Basics
Completion requirements
Marketing plans can be written in any format that is acceptable to the guidelines of the strategic planning process of the organization. A multinational company must assess its marketing strategy among several countries and regional markets. Small and medium-sized businesses will write their marketing plans according to their intended target markets and respective environments. This text provides guidance on how to format a marketing plan.
Marketing Plan Basics
Learning Objectives
After reading this section, students should be able to …
- outline the functions of a marketing plan.
- explain how to write a marketing plan.
A marketing plan should do the following:
- Identify customers' needs.
- Evaluate whether the organization can meet those needs in some way that allows for profitable exchanges with customers to occur.
- Develop a mission statement, strategy, and organization centered on those needs.
- Create offerings that are the result of meticulous market research.
- Form operations and supply chains that advance the successful delivery of those offerings.
- Pursue advertising, promotional, and public relations campaigns that lead to continued successful exchanges between the company and its customers.
- Engage in meaningful communications with customers on a regular basis.
Source: Babu John Mariadoss, https://opentext.wsu.edu/cpim/chapter/13-1-marketing-plan-basics/
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