Sample Business Paper on A marketing plan

A marketing plan is a written document, which defines the goals of a company, determines the course of action meant for achieving these goals and providing guidelines for evaluating the progress of the set goals. A successful market plan is one, which manages to apply marketing frameworks and models in meeting the issues in the organization. A marketing plan can be based on a specific product or the entire organization. At the center of a marketing plan lies the components that determine its success. This includes the sales plan, product services plan, promotion plan, internet plan, the plan used in promoting customer service and the research plan (Luther, 2011).

The primary objective of a marketing plan is to communicate effectively the desired course of action, which the company intends to take, to relevant investors. In doing so, it should accomplish the strategic objectives, which promotes the competitive advantage of the organization. It focuses on providing the solutions needed by the organization to the intended customers (Chemev, 2015). In most organizations, the objectives that a marketing plan intends to accomplish include increasing awareness of the brand, launching a new product, increasing organizational sales, entering a new market, and enhancing the relationship of the organization to its customers (Luther, 2011; Westwood, 2013).

Market research enables a small business owner to make informed decisions based on the trends in the market, the number of competitors, customer needs and preferences, technology innovations used by competitors, and possible future needs based on the market. As such, market research enables a small business owner to make informed decisions based on the market analysis. This also helps the business owner in selecting methods of implementing competitive advantage plans. Some of the possible sources of market information include demand analysis using questionnaire, current customers, internet forums, business magazines, blog posts, statistics bureau, social media platforms, and suppliers (Blick, 2011; Chemev, 2015).

 

 

References

Blick, D. (2011). The Ultimate Small Business Marketing Book. Filament Publishing Ltd.

Chemev, A. (2015). The Marketing Plan Handbook, 4th Edition. Cerebellum Press.

Luther, W. M. (2011). The Marketing Plan: How to Prepare and Implement It. AMACOM Div American Mgmt Assn.

Westwood, J. (2013). How to Write a Marketing Plan. Kogan Page Publishers.