Essential of Good Marketing Plan

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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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