Nature and contents of marketing plan

Marketing

1. Nature and Contents of Marketing Plan

2. Marketing Plan A marketing Plan is a written document that summarises what the marketer has learned about the market place and indicates how the firm plans to reach its marketing objectives. It contains tactical guidelines for the marketing programmes and financial allocations over the planning period.

3. Marketing Plan Marketing plans are becoming more customer and competitor oriented. They draw more realistic from all the functions and are team developed. Planning is becoming a continuous process to respond to rapidly changing market conditions. Most MPs cover one year in 5 to 50 pages.

4. Contents of Marketing Plan Executive summary and table of contents. Situational analysis This contains relevant background data on the sales, costs, the market, competitors, and the various forces in the micro environment. How do we define the market, how big is it , and how fast is it growing? What are relevant trends? What is the pdt offering, and what critical isuues do we face? SWOT analysis.

5. Contents of Marketing Plan Marketing Strategy. Financial projections. Implementation controls Monitoring and adjusting implementation of the plan. Goals and budget of each month or quarter Periodical review and corrective action Contingency plan

6. Strategic planning for individual business entails the following activities: Defining the business mission Analysing external opportunities and threats Analysing internal strengths and weaknesses Formulating goals Formulating strategy Formulating supporting programmes Implementing the programmes Gathering feedback and exercise control.