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The experts of marketing define a marketing plan as the document that highlights the activities which would be a part of the planning and organising for the purpose of marketing a business. The marketing plan is crucial for a company as it enables the company in the identification of the rivalry along with the description of products and services that such rivalry.
According to marketing plan academic assistance through online tutoring experts, a marketing plan comprises some of the key components or elements that include an executive summary, situational analysis, financial analysis and also the description of the marketing strategy as used by the company. The following are some of the key aspects that are crucial for the understanding of a marketing plan:
How Your Marketing Plan Should Be Written?
The marketing plan is required to be concise and to the point where it is dependent upon the nature of the work and also the size of the business. The marketing plan for a large company is very extensive and contains a lot of information but for small businesses, it should be brief. The major contents of the marketing plan are as under:
Current situational analysis- The current situational analysis provides for the analysis of the competitors, market, macro-environment along with the objectives and the internal resources of the company.
Situational analysis and summary- The situational analysis and summary highlight the key strengths, weaknesses, opportunities, and threats as they apply to the company. This is done through the use of some of the tools such as the SWOT analysis and the competitive advantage analysis. Worried about how to write a SWOT analysis related assignment? Just avail our marketing plan assignment help services.
Marketing research- The marketing research a crucial part of the marketing plan where it highlights the research methodology along with the results of the research that has been undertaken to have a detailed view of the market place and determine the demand along with the customer taste and preferences.
Marketing strategy- The marketing strategy provides for the marketing strategy is a significant part of the overall marketing plan where it includes the description of the 4Pâ€™s of marketing that includes product, price, physical distribution, and promotion.
Financial Summary- The financial summary illustrates the return on the investment, the future projections of the profits and loss, asset valuation, cash flows along with break-even analysis. This section is usually prepared for a period of five years to determine the financial standing of the business idea.
What Are The Different Types of marketing plan?
The following are some of the types of major types of marketing plan:
Direct marketing- In this plan, the focus of business is on the promotion of the products and the services. While writing assignments for direct marketing, our marketing plan academic assistance through online tutoring experts focus on the use of the direct modes of communication such as messaging, calling and emailing the customers.
Indirect marketing- The indirect marketing plan aims to approach the customer through the use of indirect channels such as charity programs, sponsorship events.
Cause marketing- Cause marketing is used by a business where the aim to connect the business to a social cause.
Niche marketing- Niche marketing focuses on a particular group of people where the promotional activities are directed to attract such target groups.
Relationship marketing- Relationship marketing focuses on building the relationship between the seller and the buyer of the products and services.
Different Qualities of Marketing Plan Described By Business Plan Academic Assistance through Online Tutoring Experts
The following are some of the key qualities of a marketing plan explained by our Australian marketing plan academic assistance through online tutoring services:
Focused- The marketing plan should be focused on the achievement of the objectives of the business and should deviate from its purpose from time to time.
Realistic- The plan should be realistic with achievable goals and real estimation of cost and expenditure.
Quantified- The presentation of the plan should be done in quantitative terms to facilitate comparison over time.
Clear- Each and every component of the marketing plan as discussed above should be clear in all aspects where such components should align and complement each other.
Agreed- The marketing plan should be agreed by all the persons involved in the business for the achievement of the overall organisational objectives of the company.
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