What is a Marketing Plan?
A marketing plan outlines the marketing goals, objectives and challenges faced by your company and the strategies adopted to mitigate them.
A marketing plan is a comprehensive business document that outlines the marketing objectives and strategies of your company for various business offerings, across jurisdictions.
Prepared for a specific period, a marketing plan usually covers:
- Objectives and Strategies: Short and long-term marketing goals and strategies (including pricing and go-to-market strategy) formulated by your company
- Risks and Challenges: Anticipated challenges in the market and their impact on your brands as well as strategies formulated to mitigate these challenges
- Channels: Key marketing channels and various agencies used by your company to advertise and promote your products or services
- Functional Teams: Details of key marketing personnel of your company and their respective roles and responsibilities
- Products and Services: Details and features of products and services offered by your company, focusing on the unique selling propositions vis-à-vis your competitors
- Budget and Timelines: Marketing budget allocated and key milestones assigned by your company for the execution of the marketing plan
- Success Assessment: Methods used to track and evaluate the performance of marketing strategies adopted by your company