Develop Marketing Plan Essay Examples

- When developing a marketing plan, managers need to closely consider the business objective and also the marketing objectives, which have to be included in the marketing plan, under the form of SMART (specific, measurable, attainable, realistic and timely) objectives. Meeting the SMART objectives that are included in the marketing plan through the marketing activities developed and explained in the marketing plan, managers ensure that they have met the organizational as well as the marketing objectives, as they were formulated in the SMART objectives. Marketing plan has to be aligned to the organization’s goals and objectives and for this it has to refer to the target market that the organization targets and to follow on the business strategy based on which the company activates. Another way to ensure that the organizational as well as the marketing objectives are met through the marketing plan is to measure the results of the activities developed according to the marketing plan by evaluating the success indicators that rely the marketing plan with organizational and marketing objectives, such as:
- The proposed number of targeted audience was reached through the advertising campaign and social media activities, included in the marketing plan;
- The unique selling position promoted through the marketing plan is directed towards generating awareness for the company and increasing its market share;
- The placement of the company’s products is associated with the needs and wants of the targeted audience, as resulted from a previously developed market analysis;
- In order to obtain the intended results, in terms of increasing the sales or the market share, developing the brand awareness or meeting other such business plans, managers must develop a strategic planning, which to set well thought objectives, as well as actions that need to be taken in terms of attaining the proposed strategies and activities that need to be met, which are the planned tactics. Objectives, strategies and tactics are linked together for developing a strategic thinking and they need to be well defined in the marketing plans, so that the team working on meeting the objectives set in the marketing plan to know how to approach them in order to meet them. Marketing plans represent a form of translating the consumers’ buying psychology and behavior and based on the findings of this psychological analysis there are developed strategic objectives meant to answer the consumers’ needs and to address their buying behaviors and it is significant that the objectives are included in the marketing plans in order to identify what actions need to be taken for reaching the consumers. It is important that marketing plans to contain information about strategies and tactics for properly identifying the best methods to achieve the proposed objectives.
- For ensuring that marketing plan objectives will be achieved in the required timeframe, marketing managers seek out information regarding:
- the consumer preferences (what brands activating in the same market do they prefer and how is the company’s brand perceived by the consumers, as compared to other brands activating on that market), information retrieved from the consumers;
- how are the tactics employed for meeting the objectives (promotions, advertising campaigns, etc.) work (meaning if the sales of the promoted product showed a modified dynamic), information that should be retrieved from retailers and advertising agencies;
- if the budget approved for achieving the objectives from the marketing plan needs to be addressed, information which should be retrieved from retailers, who monitor the sales, and advertising agencies, who monitor the impact of the advertising activities.