The paper "Role and Nature of a Marketing Plan" is a great example of management coursework. In the first part of my essay is the definition of marketing, the kind of relationship that exists between a marketing plan and a business plan and the functions of a marketing plan. Functions of marketing are stipulated in two classes, first tactical functions and strategic functions. The second part gives an overview of a typical structure of marketing. It also touches on the major differences that exist in marketing plan structures. The third part explains in detail the various marketing plan elements, looking at each element at a time.
It also explains the purpose of this section, the kind of information it requires and the sources of this information. It also talks about the techniques used in preparing it. The fourth part is the links or any independence between the marketing plan elements. The fifth part is the various marketing plan assumptions and finally is the misconceptions in regard to the marketing plan which includes reiteration of main points. Role and nature of a marketing plan I understood a market plan is a marketing document that clearly indicates the position of my business and the business strategy that I anticipate to use in the time I have set in my plan.
My market plan should clearly state the various measures that I plan to implement to achieve my business objective (Luther, 2011). My marketing plan should cover the duration of one year and at the end of every year, I should update it. My business plan and market plan are related and the two documents are supposed to complacent each other.
A marketing plan should give good details about my expected customers as well as how I influence them to buy my products or services and have good means of sustaining. My business plan should help me evaluate the worth and value of the business ideologies and the best time to write my business plan is when I am opening my business and also continue to update my business plan periodically to keep my business in the competition (Hooley, Nicoulaud & Piercy, 2011).
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