What is a Marketing Plan?
A marketing plan is a document that lays out the marketing efforts of a business in an upcoming period, which is usually a year. It outlines the marketing strategy, promotional, and advertising activities planned for the period.
Elements of a Marketing Plan
A marketing plan will typically include the following elements:
Marketing objectives of the business: The objectives should be attainable and measurable – two goals associated with SMART, which stands for Specific, Measurable, Attainable, Relevant, and Time-bound.
Current business marketing positioning: An analysis of the current state of the organization concerning its marketing positioning.
Market research: Detailed research about current market trends, customer needs, industry sales volumes, and expected direction.
Outline of the business target market: Business target market demographics.
Marketing activities: A list of any actions concerning marketing goals that are scheduled for the period and the indicated