Market Needs Business Plan

Market Needs Business Plan-31
A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible.It contains some historical data, future predictions, and methods or strategies to achieve the marketing objectives.The assigned roles allows companies to keep track of their milestones and communicate with the teams during the implementation process.

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Thus, the definition of IBM's "corporate mission" in the 1940s might well have been: "We are in the business of handling accounting information [customer need] for the larger US organizations [customer group] by means of punched cards [technology]." Perhaps the most important factor in successful marketing is the "corporate vision." Surprisingly, it is largely neglected by marketing textbooks, although not by the popular exponents of corporate strategy — indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their "Superordinate Goals." "In Search of Excellence" said: "Nothing drives progress like the imagination.

The idea precedes the deed." If the organization in general, and its chief executive in particular, has a strong vision of where its future lies, then there is a good chance that the organization will achieve a strong position in its markets (and attain that future).

It also lets the marketing team to observe and study the environment that they are operating in.

Though it's not clear, behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lie the "corporate mission," in turn provides the context for these corporate objectives.

The marketing plan is a general responsibility from company leaders and the marketing staff to take the company in a specific direction.

After the strategies are laid out and the tasks are developed, each task is assigned to a person or a team for implementation.In a sales-oriented organization, the marketing planning function designs incentive pay plans to not only motivate and reward frontline staff fairly but also to align marketing activities with corporate mission.The marketing plan basically aims to make the business provide the solution with the awareness with the expected customers.A marketing plan may be part of an overall business plan.Solid marketing strategy is the foundation of a well-written marketing plan.It describes business activities involved in accomplishing specific marketing objectives within a set time frame.A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals.The marketing goals normally aligns itself to the broader company objectives.For example, a new company looking to grow their business will generally have a marketing plan that emphasizes strategies to increase their customer base.For example, if a company's marketing plan goal is to increase sales growth then the company leaders may have to increase their sales staff in stores to help generate more sales.The marketing plan offers a unique opportunity for a productive discussion between employees and leaders of an organization. The marketing plan also allows the marketing team to examine their past decisions and understand their results in order to better prepare for the future.


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