What is the marketing plan & why it is important?

What is the Marketing Plan?

Marketing Plan is a written strategy for selling the products & services of a new business, which is a reflection of how serious a company is in meeting the competition,

with strategies and plans to increase market share and attract new customers or maintain existence customers.

An effective Marketing Plan is prepared by gathering information for consumers and competitors.

Why it is important?

A good Marketing Plan will help you to improve your existence against more experienced competitors and new entered competitors,

Moreover enables you to recognize and take action on any trends,

in addition to the consumer preferences that other companies have neglected,

as a result of that you will increase your own select group of loyal customers now and in the future, therefore using the correct marketing message in your content.

Marketing Plan also helps you to carefully produce a product that is fulfill a market demand,

which improve your chances for your income to be more stable and profitable.

Meanwhile you will be increasing your market share

Tips to consider

when you write a marketing plan you have to consider the below:

keep it up to date 

as long the market change, you need to update your data and tactics as well.

keep it Simple

Don’t go for the sophisticated fundamentals when you write your plan keep it simple as much as you can

what to include in your marketing plan?

here lets talk about the most important elements that you need to include in your marketing plan,

however it should be in a good format to clarify the main purpose

 

  • Title Page
  • Table of Contents
  • Historical Background
  • Marketing Goals and Objectives
  • Sales Objectives
  • Profit Objectives
  • Pricing Objectives
  • Product Objectives
  • Market Analysis
  • Environmental Analysis
  • Political and Legal
  • Demographics
  • Suppliers
  • Social/Cultural
  • Competition
  • Consumer Analysis
  • SWOT¬†Analysis
  • Marketing Mix
  • Product or Service
  • Location
  • Promotion
  • Price
  • Financial Information
  • Advertising
  • Promotional Materials
  • Budgets

Conclusion

you need to take time gathering information and testing the market that you about to enter,

more over to be ready with a full plan of long-term and deal with the changes that may occur, Customer behavior is changing so fast, So it would be better to serve your customer with the best you can do.

 

 

Leave a comment

Your email address will not be published. Required fields are marked *