Week 3 - Marketing Plan (1).pdf

Marketing Plan Week 3 Intended Learning Outcomes By the end of the lesson, you will be able to: explain the role of the marketing plan 1 in the overall strategic planning process of an organization; explain the primary functions and 2 objectives of a marketin...

Marketing Plan Week 3 Intended Learning Outcomes By the end of the lesson, you will be able to: explain the role of the marketing plan 1 in the overall strategic planning process of an organization; explain the primary functions and 2 objectives of a marketing plan and how it guides marketing efforts; and analyze the components of a 3 marketing plan and their contribution to achieving business goals.  Marketing Plan It is an internal document that outlines the company’s strengths and weaknesses as well as the opportunities and threats affecting the product or service. A marketing plan determines marketing objectives, or what is to be accomplished; profiles the marketing strategy, or how objectives will be met; identifies the target audience; compares current competitive strategies; and determines implementation and evaluation tactics.  Types of Research Qualitative Research employ the use of open-ended questions that can be distributed and collected through interviews, convenience polling, and focus groups. Quantitative Research are made up of closed-ended or controlled surveys, where participants must choose their answers from a preselected set of responses.  Types of Data There are two types of information available to researchers: Primary data Secondary data  Seven basic areas that make up a marketing plan: Situation analysis (SWOT) Marketing objectives Marketing strategy Target market analysis Competitive strategies Implementation tactics Evaluation Intended Learning Outcomes explain the role of the marketing plan in the overall strategic planning process of an organization; explain the primary functions and objectives of a marketing plan and how it guides marketing efforts; and analyze the components of a marketing plan and their contribution to achieving business goals. Thank You For Your Attention