Marketing plan.docx - Marketing plan From Wikipedia the...

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Marketing plan From Wikipedia, the free encyclopedia This article has multiple issues. Please help improve it or discuss these issues on the talk page . ( Learn how and when to remove these template messages ) This article needs additional citations for verification . (January 2012) This article contains instructions, advice, or how-to content . (December 2011) This article is written like a personal reflection or opinion essay that states the Wikipedia editor's personal feelings about a topic, rather than the opinions of experts . (December 2011) A marketing plan may be part of an overall business plan . Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use to a business. Contents 1 The Marketing Plan 2 Marketing planning aims and objectives o 2.1 Detailed plans and programs 3 Content of the marketing plan o 3.1 Medium-sized and large organizations 4 Measurement of progress 5 Performance analysis o 5.1 Sales analysis o 5.2 Market share analysis o 5.3 Expense analysis o 5.4 Financial analysis o 5.5 Use of marketing plans
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6 Budgets as managerial tools 7 See also 8 References 9 Further reading The Marketing Plan A marketing plan is a comprehensive document or blueprint that outlines a company's advertising and marketing efforts for the coming year. 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. [1] A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible. It contains some historical data, future predictions, and methods or strategies to achieve the marketing objectives. 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 level of return. [2] This includes processes such as market situation analysis, action programs, budgets, sales forecasts, strategies and projected financial statements. A marketing plan can also be described as a technique that helps a business to decide on the best use of its resources to achieve corporate objectives. It can also contain a full analysis of the strengths and weaknesses of a company, its organization and its products. [3] 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 would then outline the objectives that need to be achieved in order to reach the fifteen percent increase in the business market share. [4] The
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