No matter what size of your company, you should have a marketing plan. You need to determine WHERE you want to bring your business and HOW you want to get there. A marketing plan is a major tool that ensures you are aligned with your current and target markets. Above all, you must identify your objectives and then what strategies and actions you’ll execute to achieve them. There is no perfect approach; however, a well-thought-out marketing plan can help you to predict and avoid costly errors. 


A marketing plan helps you to clarify your vision for the future by implementing a dynamic process that caters to your markets and customer segments. Think of your marketing plan as an instruction manual that will allow you to follow, step by step, everything you need to accomplish your goals. Your marketing plan will also go a long way in motivating your employees as they will have a good understanding of your company’s future and perceive that you have a rock-solid strategy to get there.

Other advantages of a marketing plan

  • Clarify your company’s orientation to acquire and keep clients  
  • Achieve your objectives 
  • Better position your company in the market
  • Strategically leverage the power of your brand 
  • More effectively and easily sell your products and services 
  • Identify problems and potential pitfalls in your overall commercialization strategy
  • Seize new opportunities 
  • Coordinate initiatives between departments 

The decisions you make with regards to your marketing plan have a long-term impact on your company’s competitiveness and profitability. That’s why developing a marketing plan takes time, strategic thinking, creativity and foresight. It’s your responsibility to create a plan that will ensure your company’s success in the future.

Sources

Boundless. Advantages of a marketing plan. https://www.boundless.com/marketing/textbooks/boundless-marketing-textbook/marketing-strategies-and-planning-2/introducing-the-marketing-plan-26/advantages-of-a-marketing-plan-144-10613/. .

Entrepreneur. How to Create a Marketing Plan. https://www.entrepreneur.com/article/43018..

Ghose, Shreyasi. Marketing Planning: Importance, benefits and characterictics. . http://www.yourarticlelibrary.com/marketing/marketing-planning-importance-benefits-and-characteristics/50832/.

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