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Marketing and product innovation are the most important advantages that companies can rely on in order, to succeed and survive in the market place. A marketing plan is a guide that organizations rely on for a period of time in the future…
It guides the employers internally as well as helps raise capitals from external audiences. Debelak (2000) claims that marketing plan is a significant part of a business plan. It includes information about services, prices, and products. One needs to know how the main competitors are fairing because they constantly keep coming up with new strategies to attract customers. One should also consider key government policies that can affect the operational of a business when coming up with a marketing plan. Information Source of data Time Measurable information, like how to increase customers. observation Period of one year. Accessible, for example, distributing your products or services to other regions web search Within a period of 2 years. Distinguishable information, like looking at key competitors strong and weak points Internal data Within a period of I year Relevant, information in terms of developing marketing mix for each segment chosen. Surveys and questionnaires Within a period of 6 months Feasible, approaches for each segment with specific marketing program. ...
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