Marketing Plan Basics - 9903 Words

The Marketing Plan is a highly detailed, heavily researched and, hopefully, well written report that many inside and possibly outside the organization will evaluate. It is an essential document for both large corporate marketing departments and for startup companies. Essentially the Marketing Plan: • forces the marketing personnel to look internally in order to fully understand the results of past marketing decisions. • forces the marketing personnel to look externally in order to fully understand the market in which they operate. • sets future goals and provides direction for future marketing efforts that everyone within the organization should understand and support. • is a key component in obtaining funding to pursue new†¦show more content†¦The mission statement consists of a short, finely-honed paragraph that considers the following issues: • Identifies a stable (i.e., not dramatically changing every year), long-run vision of the organization that can answer such questions as: o Why is the company in business? o What markets do we serve and why do we serve these markets? o In general terms, what are the main benefits we offer our customers? #61607; e.g., a low price software provider may state they offer practical and highly affordable business solutions o What does this company want to be known for? o What is the company out to prove to the industry, customers, partners, employees, etc.? o What is the general corporate philosophy for doing business? o What products/services does the company offer? • In developing the vision presented in the mission statement consider: o Company History #61607; How company started and major events of the company, products, markets served, etc. o Resources and Competencies #61607; Consider what the company currently possesses by answering the following: #61607; What are we good at? #61607; What is special about us compared to current and future competitors (in general terms do not need to mention names)? #61607; What do we do that gives us a competitive advantage? #61607;Show MoreRelatedMarketing Plan Basics Essay2905 Words   |  12 PagesMarketing Plan Basics Advertising and promotions is bringing a service to the attention of potential and current customers. Advertising and promotions are best carried out by implementing an advertising and promotions plan. The goals of the plan should depend very much on the overall goals and strategies of the organization, and the results of the marketing analysis, including the positioning statement. The plan usually includes what target markets you want to reach, what features andRead MoreA Marketing Plan For A New Marketing Strategy966 Words   |  4 Pagesthe governmental legal requirements and, on the other hand, defines the organization’s policy administration. For a triumphant marketing plan, understanding the government legal approaches allows for efficient operation and inter-relationship with other organization. Similarly, internal legal policies allow the company to uphold its operation in a set manner. 4.0: Marketing Audit A market audit process is a tool that can never be neglected despite the situation. However, very few companies carryRead MoreMarketing Plan: Phase 11621 Words   |  7 PagesMarketing Plan: Phase l This marketing plan will give an overview of the existing organization and describe a new product or service. An explanation of the importance of marketing for the selected organization’s success will be addressed. A SWOTT analysis on the new product or service will be written. In addition, the marketing research approach used to develop the marketing strategy and tactics for this new product or service will be stated (University of Phoenix, 2011). 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Specially, you are also to briefly explain the factors to be considered in the preparation for developing a marketing plan. Prepare your notes for the interview. A marketing plan is a written document that summarizes what the marketer hasRead MoreUsing Perceptual Maps in Marketing Simulation Summary1124 Words   |  5 PagesUsing Perceptual Maps in Marketing Simulation Summary Brenda Salima MKT/421 – Marketing February 27, 2012 Maureen Murphy Using Perceptual Maps in Marketing Simulation Summary The situation that is being explained in the simulation states of the declining sales of Thorr Motorcycles’s product, the CruiserThorr, because of its previous customers that are aging and no longer interested in what the product stands for. 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After the basic idea is sport fund raising, eTip can be used for further purposes such as tipping the workers, companies, and friends through their good services as its convenience when the users can tip someone at any time and any location with their electronic devicesRead MoreMarketing Mix Of Coconut Bliss1217 Words   |  5 Pagesorganizational cultures, business organizations organize their business goals. Small and successful companies such as Coconut Bliss have achieved organizational goals by usin g 7P marketing mix in their marketing planning process. Other organizations such as US Ice Marsh Ice Cream, which are contemporary with Coconut Bliss, use the Marketing Partitioning Process to achieve their organizational goals. Marshfield continued the following ice-cream market segmentation process like initially; they define the organization