Notes on Importance of Planning for Business Success

A marketing plan can be viewed as a roadmap in which an organization navigates through a sequence of steps in order to promote a service, goods, or program (Thomas, 2015) (May, Apr 12, 2012). Therefore, in order to initiate the occurrence of any marketing activity, it is vital to have a marketing plan to follow in the event to create awareness, attract customers, and to gain business (Thomas, 2015). In having a marketing plan, the organization must delineate their marketing initiative through a sequence of designated steps by strategically organizing, marketing activities while defining who will be their targeted potential customers (Buttell, Jan/Feb 2009). In meeting the strategic objectives of a marketing plan, it should

Question: Outline the marketing process and explain the importance of each element of the marketing plan.

Before proceeding with the next section (objectives), it is recommended that you complete the Marketing Plan Worksheet. Ask the academic mentor in the learning community for this if you do not have it.

Your Executive Summary is a synopsis of critical information that is found in the other seven Marketing Plan sections. It

This worksheet is a complement to the study guide for both the MKT1. The purpose of this worksheet is to help you think about and apply important marketing concepts to Company G. By working through the exercises and matrices introduced in this worksheet (Section A, Section B, and Section C), you are laying the foundation for your marketing plan required in this assessment. This worksheet should be completed before you write your Marketing Plan, for which a template is provided.

2) What are the key components of a marketing plan? List and describe each component briefly.

Examine the components of a marketing plan. Determine the component you believe to be the most important and the

The third table is to outline some of the activities we might find at each stage of the marketing process; this is brief summary of the importance of the different stages.

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

The essence of the situation analysis is taking stock of where the firm or product has been recently, where it is now, and where it is headed. The situation analysis is the first of three steps in the planning stage.

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

Recognition of consumer behavior towards the decision of marketing strategy is necessary for developing effective marketing plan

A good marketing plan is nothing but the blueprint for marketing products and services, and step-by-step guidance to deliver marketing strategies for the business (Brassington et al, 2012). This is a true, detailed document that sets perfect, true and measurable functions.

Westwood, J., 2002, The Marketing Plan: A step-by-step Guide. 3rd ed., London, Kogan Page Limited, p

The marketing plan is central to the business plan. Marketing research helps you define your