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Question: What is a marketing plan?

A marketing plan is a key part of a companyís business plan.
It includes information of how to represent a company to the public, customers and suppliers, how to price products and services of the company and an external as well as internal analysis of the market.

A marketing plan starts in general with a short summary of the plan and an introduction. Sometimes it is wise to show this art of the marketing plan to the broader public while holding the rest of the plan with more details and confidential information back for a smaller circle of hand-picked readers.

A marketing plan then features an external as well as an internal analysis of the industry or market.

The next point of a marketing plan are the marketing objectives which describe the objectives a company has in the future. E.g. starting to sell a product to a specific audience and generating revenue.

The marketing strategy then describes how a company plans to put the defined marketing objectives into action/reality. A strategy normally is more long term. For the shorter term a marketing tactics plan can be added to talk about more precise ideas of how to do something. E.g. hand out flyer's to raise product awareness.



This business question is tagged in the following business interests:

marketingbusiness-plan