What is a Marketing Plan? A marketing plan is a document that lays out the marketing efforts of a business in an upcoming period, which is usually a year. It outlines the marketing strategy, promotional, and advertising activities planned for the period. Elements of a Marketing Plan A marketing plan will typically include the following elements: Marketing objectives of the business: The objectives should be attainable and measurable – two goals associated with SMART, which stands for Specific, Measurable, Attainable, Relevant, and Time-bound. Current business marketing positioning: An analysis of the current state of the organization concerning its marketing positioning. Market research: Detailed research about current market trends, customer needs, industry sales volumes, and expected direction. Outline of the business target market: Business target market demographics. Marketing activities: A list of any actions concerning marketing goals that are scheduled for the period
Marketing v/s Selling What is Selling? The selling theory believes that if companies and customers are dropped and detached, then the customers are not going to purchase enough commodities produced by the enterprise. The notion can be employed argumentatively, in the case of commodities that are not solicited, i.e. the commodities which the consumer doesn’t think of buying and when the enterprise is functioning at more than 100% capacity, the company intends at selling what they manufacture, but not what the market requires. In the sales process, a salesperson sells whatever products the production department has produced. The sales method is aggressive, and customer’s genuine needs and satisfaction is taken for granted. What is Marketing? The marketing theory is a business plan, which affirms that the enterprise’s profit lies in growing more efficient than the opponents, in manufacturing, producing and imparting exceptional consumer value to the target marketplace. Marketing