Posts Tagged 'marketing plan'

Marketing Plan

As we have seen, there is the marketing process and it needs to be administered. The directors of a company has a fundamental tool for managing this process: the marketing plan.

The marketing management, made through the marketing plan consists of four functions: analysis, planning, implementation and control.

Marketing analysis

The company must analyze its markets and the marketing environment to find attractive opportunities and avoid threats to the environment. Should identify their strengths and weaknesses, as well as their current and potential marketing actions to determine the opportunities to pursue.

The analysis provides marketing information and assessments required for all other functions of marketing management.

It should contain:

• description of the market: defining the market, its main segments, customer needs and environmental factors that can affect marketing their purchases;
• analysis of product sales, prices, profits, etc.;
• competition: main competitors, the positioning of each market and the strategies adopted by them;
• distribution: a comprehensive overview of distribution channels
• opportunities and threats: an analysis of opportunities and threats that may exist in the market segment that may impact the company and strategy.

Marketing planning

Means choosing marketing strategies that will help the company achieve its overall strategic objectives. You need a detailed marketing plan for each business, product and brand.

Implementation of marketing

The implementation of marketing is the process that turns marketing plans into action, so that strategic objectives are achieved. Companies can have the same strategies, but one can stand out from the other by having more expertise in implementing strategy.

Control of marketing

The control involves assessing the results of plans and strategies and take corrective measures to ensure that objectives are achieved.

The strategies and marketing plans can be completely and quickly outdated. So every company must constantly re-evaluate its overall approach to the market.

At the strategic level of control of marketing, the main tool is the marketing audit, a comprehensive and systematic examination in order to determine problem areas and opportunities. The audit is normally conducted by an outside group objective and knowledgeable. Often the results may surprise and even shock the Administration.