Marketing Plan

A marketing plan is a document that provides information about the marketing efforts of a business that will be used in the future, within a year. It also effectively outlines the marketing plan, promotional as well as advertising actions that are planned for the period.

The marketing plan section mainly covers the actual policies that need to be included as per the marketing mix. The strategy centers on the 8Ps of marketing. On the other hand, firms also have the freedom to use the traditional 4P’s of marketing like product, price, place as well as promotion.

The marketing plan should be properly reviewed and improved to changes in the environment occasionally. To set the goals in the marketing plan; metrics, budgets as well as schedules are used by the marketing personnel.

The marketing plan is required to clearly define the marketing aims of the business that perfectly align with the business mission as well as the vision of the organization. The marketing aims specify where the organization wants to be in the future.

Therefore, the marketing plan contains all the information of a detailed budget for the funds & resources that are needed to carry out the activities effectively specified in the marketing plan.