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Traditionally, a question like, "What is marketing plan?" is asked by people who want to start their own business. This question is also of great interest to business students.
Overall, a marketing plan can be understood as the document which describes the company’s products or services and explains the competitive position of this company. If you want to better understand this notion, you need to look at its major elements.
If you are an MBA student or an entrepreneur, you probably heard about such notion as Four Ps (price, product, promotion, and placement). The "Four Ps" are essentially a template for the marketing plan. Here is what each P stands for:
You may read plenty of marketing plan examples with different structures, but each of them will contain a section about future customers. In particular, one has to pay attention to the following criteria:
What Is Marketing Plan? Strategic Thinking and Competition
A good marketing plan can hardly be compete without an analysis of competition. You can use several methods and tools. Yet, there are several things to which you should always pay attention:
So, one can say that a good marketing plan has to answer the following questions:
So, people, wanting to know what marketing plan is, have to look at its main components. Ability to work out this plan is crucial for MBA students and entrepreneurs.