This paper will therefore, discuss the role that a marketing plan plays in enabling the product position itself in the market. It will also discuss different elements of a marketing plan and importance of each element in enabling the marketer market the product. In addition, it will provide an appropriate structure of a marketing plan and distinctive features between a marketing plan and business plan. Also, the paper will look at how each element in a marketing plan enhances the marker’s understanding of the market. Different assumptions made when drafting a marketing plan will also be discussed and their relevance in accordance with the marketer’s objective. Lastly, different marketers use marketing plan for different purposes. These purposes will be analysed and select the most appropriate use of a marketing plan. This will help in coming up with a detailed conclusion on the effectiveness of a marketing plan in helping the business to increase its overall profits (Burrow & Bosiljevac 2011). Role and nature of marketing plan A marketing plan can be defined as a product or companywide plan that describes all functions involved in achieving marketing objectives in a certain timeframe. A business plan provides a general platform that a business needs to follow in order to achieve its goals. Marketing plan is a part of business plan that goes deeper in discussing the sales and marketing planning. It also offers market analysis, expense budget; sales forecast and even different milestone tables. On the other hand, business plan covers the overall expenditure to be covered with a business. Therefore a market plan plays a great role in setting up an appropriate business plan (Cohen, 2005). A marketing plan defines the firm’s long-term mission. Every business has its mission that it wants to achieve. This cannot be possible if the business does not have an appropriate strategy to be followed. Marketing plan therefore, provides the appropriate strategy that a business must follow in order to achieve its mission. It also analyses all the risks and uncertainties that may face a business or a product in the market and provide the possible solutions. The mission is mainly based on an understanding the target consumers and all prospective competitors that might hinder the mission from being achieved (Cohen, 2005). Marketing plan helps in environment assessment. The plan summarizes the firm’s strengths, weaknesses, opportunities and threats and provides a way on how to manipulate these aspects in order for the company to increase its overall revenue. It mainly provides a way forward on how to take advantage of the available opportunities in order to strengthen the business position in the market. It also defines business strength and how to use them to increase the business competitiveness in the market. In addition, it defines all weaknesses that a business faces and how they can be eradicated or improved to fit the business mission. It also analyses the possible threats that faces the business and how to evade them (Cohen, 2005). A comprehensive marketing plan assesses the current status of the marketing effort in regard to pricing, distribution, product and promotional strategies. It assesses the relationship that exists between the business and other external factors such as competition, and target market. This help the marketer develops appropriate and measurable sales objectives.
This essay "Marketing Plan Role And Structure" investigates that for a business to be successful, the marker has to come up with appropriate strategies that will force the product in the market. As a result, companies have diversified their products…
The study suggests the adoption of the internal marketing through which the company is capable of fostering the overall organisation. The paper will assist the organisation with proper organisational structure and thus will suggest ways through which it will be capable of maintaining the competitive position in the market.
This was an important step since the proposed shop was going to be the point or channel through which we could market our products. In relation to this, a business plan should outline and discuss the shop or the outlet in various ways. The analysis of the shop from different perspectives captures the four P’s of a business2.
The report has also analyzed the external business environment of USA, which is a necessary task while developing a marketing plan. The report has also conducted SWOT analysis for identifying the strengths, weaknesses and also the external threats & opportunities.
In order to a marketer become successful, the company must be able to provide greater customer values and satisfaction than its customers do (Armstrong and Kotler, 2005, p. 72) and therefore recognizing and analyzing competitors and their strategic steps seem to be critical elements to business success.
A mass-market segmentation strategy appeals a firm to develop one product or service mix to be marketed to all potential consumers in the target market (Reid and Bojanic, 2009). Under mass-marketing strategy, the firm doesn’t need to develop more than one marketing program, because though consumers can be different, they are alike and react in a similar fashion to fulfilling their needs and wants.
Therefore the more influential demand factor is the quality of the products and services. The customers of Pizza Restaurant spend money in purchasing its products and services from consideration of lifestyles and cultures. Therefore the changes in prices are less important in the customers’ minds.
This brand is for health conscious people who are very concerned about their calorie count and nutritional value, of whatever they eat or drink. VegShot is perfect for weight-watchers as it contains NO sugar, zero calories, negligible acid content and rich flavors when compared with normal carbonated drinks available in the market.
A unicameral legislature exists for the individual providences in Canada. The federal parliament of Canada is composed of 105 senators. This body does not exert a lot of power. The real legislative power is held by the 308 member House of Commons (CultureGrams, 2011).
In this report we will present a comprehensive marketing plan for Apple I Phone 4 in United Kingdom. The marketing plan will include pricing, promotion, and distribution strategy. The plan will also talk about product strategy, target market and differentiation and positing strategy.
Affluent market in USA, Japan, China, Europe, Middle East and India is our target.
An overwhelming boom in female employment market also boosted fragrance industry and it is more likely to be accessible by every age
13 pages (3250 words)Assignment
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