Reflective Essay - Explore the Nature and Characteristics of the Marketing Plan Tool

Ph.D.
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Marketing
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Nature and Characteristics of a Marketing Plan Name of Student: Course Title: Name of Instructor: Date of Submission: Introduction One of the most important aspects of running a business is marketing. In a business, the most effective marketing efforts will be substantially enhanced if the organization has a plan…

Introduction

Business plans have numerous benefits for a business. Role and Nature of A marketing Plan Marketing planning engrosses planning operations linked to marketing goals and the varying marketing surrounding (Lamb, et al., 2011, p. 243). Arguably, marketing plan is the starting point for all marketing stratagems and resolutions. Therefore, according to Pride and Ferrell (2012, p. 321), a “marketing plan refers to a written document that acts as a guidebook of marketing activities for the marketing manager”. According to Stone and McCall (2004), a marketing plan generates a structure for the suggested marketing to be carried out (p. 267). By specifying the goals and delineating the operations needed to achieve them, a marketer can provide the starting point by which definite and anticipated output is evaluated. Marketing is a costly and complex business activity, but important to the business (Cohen, 1987, p. 134). Marketing plan in writing permits a marketer to scrutinize and evaluate the marketing atmosphere and the inner functioning of the organization. According to Longenecher et al. (2005, p. 295), after a marketing plan is presented in written form, it serves as an orientation for the achievement of coming operations. Needless to say, a marketing plan permits the marketer to penetrate the marketplace with awareness of opportunities and challenges. ...
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