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Marketing planning can also be used to prepare a detailed case for introducing a new product, revamping current marketing strategies for an existing product or put together a company marketing plan to be included in the company corporate or business plan.
A marketing plan may be part of an overall business plan.
Solid marketing strategy is the foundation of a well-written marketing plan.
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.
Acquiring marketing share, increasing customer awareness, and building a favorable business image are some of the objectives that can be related to marketing planning.
The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan.Marketing plans start with the identification of customer needs through a market research and how the business can satisfy these needs while generating an acceptable return.This includes processes such as market situation analysis, action programs, budgets, sales forecasts, strategies and projected financial statements.The marketing plan would then outline the objectives that need to be achieved in order to reach the fifteen percent increase in the business market share.Marketing planning segments the markets, identifies the market position, forecast the market size, and plans a viable market share within each market segment.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.While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business.A marketing plan is a comprehensive document or blueprint that outlines the advertising and marketing efforts for the coming year.A marketing plan can also be described as a technique that helps a business to decide on the best use of its resources to achieve corporate objectives.It can also contain a full analysis of the strengths and weaknesses of a company, its organization and its products.