What is Marketing Plan

What is Marketing Plan in 2019

What is Marketing Plan

A marketing plan is a document in which the main goals of marketing the company’s goods and services and ways to achieve them are formulated. Although we are talking about products in this chapter, they almost always include some component of services, such as after-sales service, advice from specially trained sellers, and (in the case of consumer goods) art of sales. The marketing plan has a formal structure, but can also be used as an informal, flexible enough tool:

to prepare arguments for the introduction of a new product;

when changing approaches to the marketing of goods of the company;

when developing full marketing plans for a department, division or company for inclusion in a corporate or business plan.

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In fact, a marketing plan for one product in a separate trade zone can also be prepared, but large-scale plans are becoming more common. In the future, we will consider examples from various industries (production of investment and consumer goods, services). Despite the significant differences between the goods produced, the basic principles of marketing apply to each of them. Yes, the ways of using them vary, but the fundamental approach to drawing up a marketing plan does not change. For a marketing plan, there are no minor or too large issues.

With the same success, you can develop a marketing plan for a wide variety of goods and services (from chemical products to fast-food restaurants) at the district, country or the whole world level. If we are talking about companies with subsidiaries, marketing plans for each of them are developed either by their employees or employees of the head office.

Each marketing plan for a subsidiary is developed on the basis of individual, smaller-scale individual plans. The main condition for developing plans for departments and subsidiaries is that they must be linked to the general plan of the company. This does not mean that you must prepare a plan for each product or trade area. But if they are developed, they should be coordinated with the general marketing plan.

Marketing plan cannot be considered complete if it does not include data from the previous period, future forecasts, goals and methods or strategies for achieving these goals. If a plan is drawn up for a new product, the data of past periods for which are not available, it is possible to use information about the product that it replaces, or estimated data for similar products of a competing company. In its simplest form, a marketing plan begins with the collection and evaluation of data from the past period. It usually contains detailed information about competitors, their strengths and weaknesses, strengths and weaknesses. The best plan should consider the strengths and weaknesses of your company, your successes and failures.

But this is not a plan, but only the first step in its development. It is then supplemented with forecasts for the future, which implies a detailed description of the strategies that will be used to achieve the goals. The full form of the plan provides an assessment of the resources required for its execution, examines in detail its impact on the profit and loss figures, or the plan includes the forecast of the company’s financial report.

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