Essential of Good Marketing Plan
Marketing Plan is a
written statement of company objectives which reflect company’s strategies to
sell and promote products and to increase its share and revenue. A Good marketing plan must clearly define the
current position of the company in the market, Opportunities and threats for
the company and the business objectives of the company.
·
Company
Current Market Place
o
Current Service Mix of
a Company: Various products and services company is offering in the market.
o
Current Market Share:
The market share of the company in a particular industry.
o
Geographical Coverage:
The areas company is covering nationally and internationally.
o
Sales &
Distribution Network: Sales and distribution strategies of the company.
o
Profile of Target
Market: The customers segments targeted by the company.
o
Competitors Available:
Analyzing the competitors for the company.
·
Threats
and Opportunities
o
Government Policies:
Analyzing state and central government policies.
o
Competitors: Analyzing
major competitors .
o
Technology: Change in
technology and its impact on company business.
o
Climate and Geography:
Area of operation and its impact on business.
o
Culture, Religion and
other Social factors.
·
Marketing
Objectives
o
Diversification or
Extension of Business: Defining company growth strategies.
o
Increasing Profit or
Market Share: Strategies for profit and market coverage.
o
Change in Distribution :
Defining distribution strategies
o
Change in Promotion:
Analyzing promotional strategies and their impact on company business
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