Most influential and effective part of the marketing strategy
A marketing plan brings everyone on the same page in an organization. It helps the business to actively involve in generating more sales, ensures the aligning of marketing communication with the vision and mission of the organization and ensuring that the dollars spend on marketing campaigns are generating good return over investments.
Business management students face bombardment of assignments which requires them to create marketing plans. Marketing plans requires deep analysis of marketing environment, consumer trend and statistics. Student often consider it a tough job and most of them ends up asking question that who can help me write my essay.
There is no need to worry about it because more you are prepared better you will be able to craft a marketing plan. Abraham Lincoln once said that if he has six hours to cut the tree, he will spend first one hour sharpening the blade. Therefore, it is necessary whether you are chopping a tree or creating a marketing plan, you should have proper tools for success.
A marketing plan involves a number of moving parts that is why its developing is quite overwhelming of students who has just started learning the basics of business management.
Online essay writing service having essay writers for hire can do this job for you but it is recommended to try it by yourself. Here are some important steps that can help you developing a quality paper.
- Make a List of your Goals
Clarifying your goals and objective is not just the first part of the marketing plan, stating them will set the stage for all other things to come. You Goals decides the destination of the company. This may sound easy but it let the marketers involved into activities of execution before they decide what will bring success for them.
You goals may be:-
- Make inroad into a new market
- Encouraging customers to join their service by abandoning their previous service.
- Increase the volume of sales
- Launching of a new product that could address the need of new customers in a new market.
- Prepare a Mission statement
A mission statement will describe the nature of the business, services being offered, and the target market. A mission statement is a small line of sentence describing these elements. However, there are large corporations whose mission statement comprise of one or two paragraphs.
- Describe Target Market
Marketing plan would not be complete if you are not talking to right people. Identify potential groups or customers to achieve desired goals which are part of your marketing plan. Mention segments in you marketing plan. Market segmentation can be carried out by dividing customers into various groups based on demographics, age, profession, interests and purchasing power.
You can also include psychographic information, which determines the interests of the customers. These interests could include life style, preferred magazines, daily activities, sports programs, type of websites visited, and choice for TV shows.
This information will assist in the decision making process by getting knowledge of customer purchasing behavior.
- What are you offered Services
This section will display the information about your product and services. In order to deliver the right service to the right customer, it is necessary to carry out market research activity. Also mention the necessary resources that are required to deliver service to the customer. Resources may involve, tangible and intangible resources.
- Research and Analysis
To adjust your marketing plan according to current market landscape, carry out analysis to see how your business stands out of competition.
Research information related to competitors in the similar field who are offering same product and services and are serving in the same market. Try to focus on:
- Product specialties
- Market strategies
- Pricing strategies
- Product and services
- Distribution channels