Product Marketing Plan For Marketing

The purpose of this article is to analyze and explore the characteristics of the marketing plan. Firstly, it will identify the role and nature of marketing plan. Secondly, it will outlines the structure of the marketing plan. Moreover, the paper will determines the each elements in the marketing plan and the linkage between these elements. Additionally, the two misconceptions will be examined. Last, it will conclude the marketing plan is indispensable to the organizations.

A well-developed marketing plan is an essential blueprint for a business to attain the prime financial support and consumer base it requires in order for it to develop and grow. A marketing plan’s detailed structure allows manager’s to define the business’ marketing strategies in clear and in-depth formats that feature a precise roadmap to future growth and expansion. A first class and properly structured marketing plan will guide the entire organization’s marketing actions and keep them focused and dedicated toward achieving the company 's overall goals and strategies.

Marketing planning involves looking at all angles, the best strategy that will enable a company utilize it resources efficiently. Organizational resources are scarce and thus planning become inevitable. Analyzing the marketing requires adequate knowledge with proper strategies to seize opportunities that exist. Market planning requires that organization understand their internal and external environment. Internal

Question #1: Develop a brief marketing plan for the event of your choice. Make sure to identify the competitive advantages, target market(s), strategies, tactics, budgets, and schedule and evaluation methodologies. Describe how you will increase your marketing performance through creative and innovative tactics.

Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in marketing to keep consumers interested in their products and services. The success of a company may rely on the company’s marketing performance. Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed. Developing a marketing strategy will consist of the marketing mix.

Within this demographic “space” requirements are continually challenged by the availability of funds to acquire it, particularly when speaking of home renovations and expansions. This will be the largest of the three identified Target Markets, consisting of approximately 1/2 of the overall TM. Geographically, this target market is located throughout the valley, in the middle-income neighborhoods which is approximately $30k to $62.5k household income (US Census Bureau, 2006 – Appendix A). The slogan “the cheapest way to add a room to your home” will be a key marketing tool for this particular segment of the target market. With the economic conditions and growing families, space is desired but not always an option due to cost so this will be a key focal point. This particular market makes up 52% of the total available market, more than 128,000 homes. (U.S. Census Summary File 3, Profile of Selected Housing Characteristics: 2000)

Marketing planning is a systematic process involving the assessment of marketing opportunities and resources, the determination of marketing objectives and the development of a plan for implementation and control.’ Dibb and Simkin, Marketing: Concepts and Strategies, 2001

There is no commonly accepted definition or approach to marketing planning. This is because of a number of problems that pepper the marketing planning literature relating to the size of an organization, the market or sector in which it exists, its culture, and the human beings that work within it. There is a huge body of research that has considered marketing planning and its models, structures and processes, theory and typologies. The only one thing that is certain is that, after considering the findings of a number of studies and as the output of many informed views, there is no common agreement on a single definition or approach to

Due to immense technological advancements and globalization of businesses all over the world, everything seems to change dramatically including marketing planning function within a company. These two factors among others have forced companies to adopt more flexible marketing strategies in order for them to gain a competitive advantage. Zinkhan & Pereira (1994) note that marketing planning is a sub-set of strategic planning within a company is integral to the success or failure of the company.

The marketing plan habitually comprises time limits, budgets and allocations of staff and this can help the business identifying the definite marketing activities and specifications for the budget, setting and achieving marketing goals, bringing a marketing strategy in the company for life (Mcdonald et al, 2011)

The marketing plan is the central instrument for directing and coordinating the marketing effort. Herein below the levels of a Marketing Plan is set out.

At the present time, in order to establish a product in the market, it is considerable for the business organizations to adopt unique marketing activities and strategies. A marketing plan can be elaborated as an integrated approach or process to deal with the dynamic business environment and foresee future. In addition, a marketing plan is also important to understand the varying consumer buying behavior, to serve them in a finest way and provide them a high level of satisfaction (Kotler, et al., 2013). The idea of marketing is associated with the introducing strategies and tactics to advertise

However most companies rely on sales forecasting and budgeting system, but they bear little relationship to the real opportunities and problems facing a company. A marketing plan is useful for the marketer, for superiors, for non-marketing functions, for subordinates. It also helps identifying sources of competitive advantage to force an organisation approach, to inform, to get resources, to get support and gain commitment and mostly to set objectives and strategies. There are other reasons to prepare a strategic marketing plan all organisations have a mix of different types of market, which will have a lack of differentiation in products and

According to Smallbusiness.chron.com (2016) “Marketing plans serve as the blueprints for your company’s sales strategy.” It also enables a business to provide details plan for the upcoming year so that they will be able to make changes to or evaluate the plan if the market changes. A marketing plan provides all the tactics that a business uses to achieve its objectives in order to gain results in sales. Marketing plan helps an organization to execute its marketing strategy and it also enables them to create services or products that will satisfy customers’ needs.

Today it is said that customer is the king of new business world. It is consider customers are the key place in new business. Global business process is always changing for only one reason is customer. Customer’s interest is influenced by various factors such as environment, culture, technology and so on. Company’s main focus is to fulfill customer needs and retain profitable customer by increasing life time value of the customer. And for all doing Tasks Company develop a suitable marketing plan to gain the objective in an ethical way. All