Marketing Plan For A Marketing Strategy

1299 Words Jul 10th, 2016 6 Pages
Designing a product, taking it from imagination to creation can be a long painful process with many failures. This process comes with heavy investments of time and capital but still remains only a small portion of the entire dream. It is also important to plan ahead in regards to how this product will meet the main stream consumer. The concept of marketing may seem like a simple process, “business success using a simple process of understanding and meeting customer needs” (Drummond, Ensor, & Ashford, 2014). One tool used in order to ensure product to consumer success is a marketing strategy. A marketing strategy combines all of the marketing goals and business goals in to one comprehensive package (Lake, 2016). The marketing plan explains how to accomplish the marketing strategy by providing the marketing team a detailed guide ensuring productivity and goal oriented decision making. There are a lot of pieces and variables to creating a viable working marketing plan. Marketing professionals are equipped with the tools and knowledge to effectively navigate the real world challenges that come with convincing consumers that their products are needed. Strategic planning process includes conducting a situation analysis, generating a mission statement, objectives, value proposition and strategies (Tanner, Jr. & Raymond, 2012). These steps help an organization allocate resources taking various market conditions in to account while still meeting objectives, delivering…
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