Part Of Business Plan

Part Of Business Plan-44
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.

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On the other hand, it should not be too wide or it will become meaningless; "We want to make a profit" is not too helpful in developing specific plans.

Jacob Zimmerem suggested that the definition should cover three dimensions: "customer groups" to be served, "customer needs" to be served, and "technologies" to be used.

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.

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 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.

The marketing plan is a general responsibility from company leaders and the marketing staff to take the company in a specific direction.

After the strategies are laid out and the tasks are developed, each task is assigned to a person or a team for implementation.

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