What Makes A Marketing Plan?

895 WordsSep 11, 20154 Pages
· In addition to CMOs, why do you believe so many other employees participate in marketing planning? Putting together a marketing plan is often labor intensive and as a result, can often take many employees from several departments. In addition, because a market plan is essential to the success of the company it simply requires many people each contributing in their particular area of expertise. For example: You may need a team to do a competitive analysis of similar products, to see how your product stacks up to others in the marketplace, and there may be a need for test marketing. (Tanner & Raymond, 2010,) Similarly, a marketing researcher might be needed, or even a sales manager to forecast how many units can be sold all, furthermore, executives are involved in the planning and approval process, which means the team size, might grow quite large before the plan is completed. The marketing plan is essential to keep the sales of a product continually growing. Just how essential is a marketing plan? Let 's take a look at a plan gone wrong. Image courtesy of (Edwards & Minato, 2013) For example: When Ron Johnson took over as CEO of JcPenney in November of 2011, by February 2012 stocks surged to over $42.00 a share in anticipation of major growth of the retail company. However, by April 2012, not only was 10% of the corporate staff laid off, but in addition more store managers than JCP was willing to admit. (Edwards & Minato, 2013) The new “no sale” marketing campaign
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