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A marketing plan is a comprehensive blueprint which outlines an organization's overall marketing efforts. A marketing process can be realized by the marketing mix, which is outlined in step 4. The last step in the process is the marketing controlling.
Importance of marketing plan
A marketing plan clarifies the key marketing elements of a business and maps out directions, objectives and activities for the business and its employees.
The marketing plan draws on the broader perspectives outlined in a firm's business plan. The business plan states how a company will take a product idea and transform that into a commercially viable proposition.A marketing plan:
Provides direction for all your marketing effort
Helps define specific tasks
Helps to identify prerequisites to planned activities
If more than one person is involved it helps you to define areas of responsibility
Can give you insight into new markets that may have previously been overlooked
Enables you to create clear guidelines for evaluating the effectiveness of different marketing methods
Can help raising finance for capital expenditure
Prevents time being wasted on ineffectual marketing activities
Saves money by helping to ensure that the marketing budget is spent effectively
Will generate more clients by communicating effectively
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Aug 7th, 2015
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