Part Of Business Plan

Part Of Business Plan-47
The marketing plan would then outline the objectives that need to be achieved in order to reach the fifteen percent increase in the business market share.Marketing planning segments the markets, identifies the market position, forecast the market size, and plans a viable market share within each market segment.The marketing plan shows the step or actions that will be utilized in order to achieve the plan goals.

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A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible.

It contains some historical data, future predictions, and methods or strategies to achieve the marketing objectives.

It also lets the marketing team to observe and study the environment that they are operating in.

Though it's not clear, behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lie the "corporate mission," in turn provides the context for these corporate objectives.

The marketing plan is a general responsibility from company leaders and the marketing staff to take the company in a specific direction.

After the strategies are laid out and the tasks are developed, each task is assigned to a person or a team for implementation.

Thus, the definition of IBM's "corporate mission" in the 1940s might well have been: "We are in the business of handling accounting information [customer need] for the larger US organizations [customer group] by means of punched cards [technology]." Perhaps the most important factor in successful marketing is the "corporate vision." Surprisingly, it is largely neglected by marketing textbooks, although not by the popular exponents of corporate strategy — indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their "Superordinate Goals." "In Search of Excellence" said: "Nothing drives progress like the imagination.

The idea precedes the deed." If the organization in general, and its chief executive in particular, has a strong vision of where its future lies, then there is a good chance that the organization will achieve a strong position in its markets (and attain that future).

It describes business activities involved in accomplishing specific marketing objectives within a set time frame.

A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals.

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