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Marketing Plan Basics

Marketing Plan Basics

Crafting or writing the marketing plan is done after the previously mentioned analysis has been completed by the marketing personnel. Therefore, environmental scanning, the review of the firm's resources and capabilities, and the SWOT analysis are all tools used to write an informed marketing plan. Marketing plans can be written in any format that is acceptable to the guidelines of the strategic planning process of the organization. A multinational company must assess its marketing strategy among several countries and regional markets. Small and medium-sized businesses will write their marketing plans according to their intended target markets and respective environments. This text provides guidance on how to format a marketing plan.

A marketing plan should do the following:

  1. Identify customers' needs.
  2. Evaluate whether the organization can meet those needs in some way that allows for profitable exchanges with customers to occur.
  3. Develop a mission statement, strategy, and organization centered on those needs.
    1. Create offerings that are the result of meticulous market research.
    2. Form operations and supply chains that advance the successful delivery of those offerings.
  4. Pursue advertising, promotional, and public relations campaigns that lead to continued successful exchanges between the company and its customers.
  5. Engage in meaningful communications with customers on a regular basis.

Source: Babu John Mariadoss, https://opentext.wsu.edu/cpim/chapter/13-1-marketing-plan-basics/
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 License.

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