Marketing plan is the central instrument for directing and coordinating the marketing effort. The marketing plan operates at two levels: strategic and tactical. The strategic marketing plan lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities. The tactical marketing plan specifies the marketing tactics, including product features, promotion, merchandising, pricing, sales channels, and service.
Marketing plan is a written document that summarizes what the marketer has learned about the market place and indicates how the firm plans to reach its marketing objectives. It contains tactical guidelines for the marketing programs and financial allocation…show more content… • Why do others not purchase this product or service?
Knowing the state of the organization and its resources helps to determine where it is strong and what areas need attention. Include the following in the marketing plan:
• Current state of financial and human resources
• Anticipated state of financial and human resources
• Your business 's performance in relation to competitors
The 5 C 's of Marketing can be summarized as:
Company - The product time line, experience in the market, etc.
Collaborators (or Partners) - Distributors, suppliers, and alliances. These are any companies that you work with on a day to day basis to help your company run.
Customers - This is your market. Ask yourself what benefits they are looking for. What motivates them in the purchase process? Where the customer does actually purchases your product? How the product is purchased (impulse buys, internet, etc)? Understand the quantity a customer will purchase and even trends in consumer tastes.
Competitors - Both your actual and potential competitors and those that directly or indirectly compete with you. Understand their products, positioning, market shares, strengths and weaknesses.
Climate (or Environment) - These are governmental policies and regulations that affect the market. It is also the economic environment around your company; which is the business cycle, inflation rate, interest rates, and other macroeconomic issues. Society 's trends and