Paper #1 Topic: Explain (in detail) the elements of a marketing plan. Which one element is missing from the textbook? Why is this element so important?
Marketing Plans are documents that act as a blueprint or guidebook of marketing activities. The marketing plan can be used in a variety of ways. Both individuals and organizations can use marketing plans to achieve anything they have their sights on. The greatest companies and smartest people follow the marketing plan. When companies decided to start market planning they often anticipate any events that will happen in the future and decided the strategies that are needed and which ones will be used to achieve competitive advantage over their competitors.
There are seven different elements …show more content…
The mission statement primarily focuses on the markets that the organization is interested in instead of dealing with the goods and services that are being offered. This is extremely important because goods and services are vastly changing and if a company’s mission statement is only focusing on a certain good or service, it is likely that those goods and services primarily in the mission statement are no longer relevant to the organizations function. Businesses have to understand themselves and the competitive market around them before constructing a mission statement so they won’t suffer from being narrowed-minded to the subject of what their company can offer to society. An important objective of the mission statement is that it is the day to day working that an organization does in order to fulfill the vision …show more content…
The marketing plan falls apart if the plan never gets used by the business. With that being said, all the time spent organizing a SWOT analysis, determining the target audience, figuring out the vision and mission statements along with the objectives, the plan simply goes to waste. In order to get the most out of your marketing plan, it is important to make sure that the organization implements the plan the way it was constructed. This is where the evaluations become extremely important to the overall success of the plan.
Every marketing plan should be evaluated to see if the objectives, stated in the marketing plan, have been achieved during the time period that the organization set as a goal. As stated earlier, objectives should be a lot like developing S.M.A.R.T goals. It should be stressed that all objectives previously listed are smart objectives, challenging but attainable in order to achieve a smart marketing plan. In the evaluations element of the marketing plan, it’s essential to change and redirect certain things in the marketing plan to achieve optimal
Marketing Plans are documents that act as a blueprint or guidebook of marketing activities. The marketing plan can be used in a variety of ways. Both individuals and organizations can use marketing plans to achieve anything they have their sights on. The greatest companies and smartest people follow the marketing plan. When companies decided to start market planning they often anticipate any events that will happen in the future and decided the strategies that are needed and which ones will be used to achieve competitive advantage over their competitors.
There are seven different elements …show more content…
The mission statement primarily focuses on the markets that the organization is interested in instead of dealing with the goods and services that are being offered. This is extremely important because goods and services are vastly changing and if a company’s mission statement is only focusing on a certain good or service, it is likely that those goods and services primarily in the mission statement are no longer relevant to the organizations function. Businesses have to understand themselves and the competitive market around them before constructing a mission statement so they won’t suffer from being narrowed-minded to the subject of what their company can offer to society. An important objective of the mission statement is that it is the day to day working that an organization does in order to fulfill the vision …show more content…
The marketing plan falls apart if the plan never gets used by the business. With that being said, all the time spent organizing a SWOT analysis, determining the target audience, figuring out the vision and mission statements along with the objectives, the plan simply goes to waste. In order to get the most out of your marketing plan, it is important to make sure that the organization implements the plan the way it was constructed. This is where the evaluations become extremely important to the overall success of the plan.
Every marketing plan should be evaluated to see if the objectives, stated in the marketing plan, have been achieved during the time period that the organization set as a goal. As stated earlier, objectives should be a lot like developing S.M.A.R.T goals. It should be stressed that all objectives previously listed are smart objectives, challenging but attainable in order to achieve a smart marketing plan. In the evaluations element of the marketing plan, it’s essential to change and redirect certain things in the marketing plan to achieve optimal