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Principles of Marketing Marketing is the key behind the success of any organization. A proper and good marketing plan not only helps any organization to be profitable but also at the same time help the organization reach out to the common people across the country and understand their needs, Based on a successful marketing campaign, an organization can develop its future goal and strategies to be on the profit road…
Elements of a Marketing plan: According to Lamb et.al. (2010), a marketing plan can be defined as a process of anticipating different events of the future as well as to determining strategies to achieve the objective of the organization. According to their point of view, there are 7 different elements related to marketing planning. These are segmentation, competitive analysis, marketing goals and measurements, planning-budgeting, timeline. Differentiated Points of Value (by segment) and Messaging and Positioning (by segment). According to their point of view, SWOT analysis as well as marketing mix also associated with the effective marketing plan. Segmentation – For the effective marketing plan, a proper segmentation is absolutely necessary. An effective and proper segmentation is always helpful to design products for the customer and also able to capitalize the market opportunities. ...
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