BSBMKG609 Develop a marketing plan
1. Describe 4 different marketing options you could
include in your marketing plans.
To make a marketing plan powerful some of the marketing things that our marketing plans will be
inclusive of are Marketing research, Business competition, Marketing plan budget, Marketing
goals. Marketing plan is prepared with the objective of bringing the company to great marketing
path. It is the responsibility of the company to develop the marketing plans in consideration of
overall organizational goals and aims of the business to satisfy the customers with the quality of
products and maximum profits of the organization. Plans of the marketing are made with the
objective of minimizing the risk of failure when executing the plan (Elliott, et. al., 2014). This
helps in identifying the risks and challenges which our organization can face while stepping in the
market. The four options we can include in our marketing plans are:
marketing research is the study of market which enables us to identify the
risks, opportunities, new technology, and the information about the new products of the
competitors. It helps us to find out the current demand for the product and the customer’s needs.
The market research helps to gain information about the issues and marketing techniques which
could be used to attract customers (Elliott, et. al., 2014). This is very necessary for the
organization to have market research for better operations in the competitive market.
The organization should include the business competition analyses
study in the marketing plan to play safe in the market. Business competition study is the
assessments of the competition business have with the other firms of the same industry. The
company needs to know the biggest competitors they have to compete with in the market to get
the lead position and maximum customer’s attraction (Elliott, et. al., 2014).
Marketing plan budget-
the organization has to take into consideration the
budget while preparing the marketing plan. The budget of market plan should not exceed