Marketing plan: What is it about and why is it important for companies?
Posted: Sun Dec 22, 2024 6:41 am
In a global market that is becoming increasingly competitive, marketing strategies and plans become indispensable tools to stand out from other companies. Gaining positioning both on the Internet and in physical establishments is a goal that many companies (no matter how small they are) set when creating a marketing plan that adapts to their basic needs and objectives.
Marketing departments have the great responsibility of planning and carrying out actions that can satisfy these needs in the short or long term. Below we invite you to learn what a marketing plan is , the importance of having one and the best techniques to create one.
What is a marketing plan?
A marketing plan is nothing more than a document that incorporates, in a schematic sense, all the steps to be followed by a company to comply with its marketing strategies , based on its sales and market representation objectives. However, it should be noted that marketing today is much more than the direct relationship between advertising and sales. It represents a prodigious communication channel between companies and customers and therefore, all their efforts must be focused on defining which public is most interested in their value propositions.
Marketing plans are characterized by collecting and working on market studies that various specialists in the area prepare in a personalized way,to find out what the current trends and situations are in the market, that is, what are the most recurrent behaviours in buyers and what external agents influence them. Therefore, marketing plans are used in order to establish how companies (from their particularities) can incorporate and subtly influence (through their products and/or services) social dynamics.
What should a marketing plan include?
A marketing plan consists of: the description of the current situation (market study), the analysis of said situation, the marketing objectives set, the definition of strategies for those objectives and the action programs to carry them out.It is about grouping together in one place a sequence of steps that must be followed exactly to meet the demands of companies and their industries. To complement and make our idea more comprehensive, Leticia del Corral points out that a marketing plan must include the following elements:
Main objectives for that year or period.
Market and company situation.
Definition of the company's clients.
Main campaigns to be carried out and expected objective of each campaign.
Annual action plan that shows when and who will execute the different philippines telegram actions scheduled for that year.
Budget to be invested in each action.
Contingency plan in case the actions are not working what will be done.
Importance of creating a marketing plan for your company
Minimize risks
In marketing, as in any other management activity, any action carried out without proper planning entails a high risk of failure or a large loss of resources and efforts.In the business world, planning becomes an important action to minimize risks, prevent bad decisions and make the most of the resources (human and economic) that companies have available.
Creating a marketing plan for your company , in this sense, is important because it allows you to always know what the next step will be for your work team to meet your stated objectives.A marketing plan represents a work guide on which all your marketing actions will be based in the coming months.This programming basically acts as a compass that will prevent you from losing your way halfway, it will keep you focused on a purpose and in case you make a mistake, it will have quick solutions previously thought out for those cases. Creating a marketing plan helps you to have everything coldly calculated and not lose sight of anything.
Measuring your achievements and failures
It is well known that what is not measured, cannot be improved. In this sense, marketing plans , due to their systematic structuring,They allow you to compare how effective or not your actions were, in relation to other plans you have executed in previous years,with the aim of measuring what your achievements and failures were . Trying to make a project or campaign succeed without relying on a marketing plan is like trying to navigate a stormy sea without a fixed course.
This is undoubtedly detrimental to justifying the impact you want to achieve on your audiences and will not allow you to evaluate where you went wrong if you did not have the results you wanted. Without a marketing plan, you will never know how you achieved your results and, therefore, you will be much more exposed to market upheavals.
In this way, creating a marketing plan for your company is important because it helps you quantify your successes and failures, in terms of profitability ( ROI ) and the impact of your relationships with your potential clients (IOR). Given the dizzying transformations that occur in the market, creating a marketing plan will help you know at what point it is necessary to change or not, a certain action.
Budget consciously
A marketing plan gives you a clear vision of the end goal and what you want to achieve along the way to that goal.For example, getting 10,000 followers on Instagram in the first quarter of the year may be an optimal goal for your marketing plan .What financial resources and how will you use them to reach those 10,000 followers (or other goals) is the great challenge that you must define with concrete actions within your plan.
Having a marketing plan that allows you to know what budget you have available for each stage and future action is of great importance so that you can plan your resources more objectively for the year. It represents an anchor point to justify your long-term expenses and investments and plan your budget consciously.
With your marketing plan, you have the advantage of collecting the data necessary to calculate how long it will take your team to cover each stage, which gives you an idea of the time you should spend on it, what staff you should allocate to achieve your objectives and what financial resources you have available. Your company's administrators will be able to work in parallel with this plan and help you correctly manage your income.
A marketing plan , as we have already seen, offers you multiple benefits in terms of resource management, achievement measurement and strategy planning. It is recommended that at the beginning of each year, creating a marketing plan is one of your main tasks, as this will allow you to have a solid direction from start to finish.
Marketing departments have the great responsibility of planning and carrying out actions that can satisfy these needs in the short or long term. Below we invite you to learn what a marketing plan is , the importance of having one and the best techniques to create one.
What is a marketing plan?
A marketing plan is nothing more than a document that incorporates, in a schematic sense, all the steps to be followed by a company to comply with its marketing strategies , based on its sales and market representation objectives. However, it should be noted that marketing today is much more than the direct relationship between advertising and sales. It represents a prodigious communication channel between companies and customers and therefore, all their efforts must be focused on defining which public is most interested in their value propositions.
Marketing plans are characterized by collecting and working on market studies that various specialists in the area prepare in a personalized way,to find out what the current trends and situations are in the market, that is, what are the most recurrent behaviours in buyers and what external agents influence them. Therefore, marketing plans are used in order to establish how companies (from their particularities) can incorporate and subtly influence (through their products and/or services) social dynamics.
What should a marketing plan include?
A marketing plan consists of: the description of the current situation (market study), the analysis of said situation, the marketing objectives set, the definition of strategies for those objectives and the action programs to carry them out.It is about grouping together in one place a sequence of steps that must be followed exactly to meet the demands of companies and their industries. To complement and make our idea more comprehensive, Leticia del Corral points out that a marketing plan must include the following elements:
Main objectives for that year or period.
Market and company situation.
Definition of the company's clients.
Main campaigns to be carried out and expected objective of each campaign.
Annual action plan that shows when and who will execute the different philippines telegram actions scheduled for that year.
Budget to be invested in each action.
Contingency plan in case the actions are not working what will be done.
Importance of creating a marketing plan for your company
Minimize risks
In marketing, as in any other management activity, any action carried out without proper planning entails a high risk of failure or a large loss of resources and efforts.In the business world, planning becomes an important action to minimize risks, prevent bad decisions and make the most of the resources (human and economic) that companies have available.
Creating a marketing plan for your company , in this sense, is important because it allows you to always know what the next step will be for your work team to meet your stated objectives.A marketing plan represents a work guide on which all your marketing actions will be based in the coming months.This programming basically acts as a compass that will prevent you from losing your way halfway, it will keep you focused on a purpose and in case you make a mistake, it will have quick solutions previously thought out for those cases. Creating a marketing plan helps you to have everything coldly calculated and not lose sight of anything.
Measuring your achievements and failures
It is well known that what is not measured, cannot be improved. In this sense, marketing plans , due to their systematic structuring,They allow you to compare how effective or not your actions were, in relation to other plans you have executed in previous years,with the aim of measuring what your achievements and failures were . Trying to make a project or campaign succeed without relying on a marketing plan is like trying to navigate a stormy sea without a fixed course.
This is undoubtedly detrimental to justifying the impact you want to achieve on your audiences and will not allow you to evaluate where you went wrong if you did not have the results you wanted. Without a marketing plan, you will never know how you achieved your results and, therefore, you will be much more exposed to market upheavals.
In this way, creating a marketing plan for your company is important because it helps you quantify your successes and failures, in terms of profitability ( ROI ) and the impact of your relationships with your potential clients (IOR). Given the dizzying transformations that occur in the market, creating a marketing plan will help you know at what point it is necessary to change or not, a certain action.
Budget consciously
A marketing plan gives you a clear vision of the end goal and what you want to achieve along the way to that goal.For example, getting 10,000 followers on Instagram in the first quarter of the year may be an optimal goal for your marketing plan .What financial resources and how will you use them to reach those 10,000 followers (or other goals) is the great challenge that you must define with concrete actions within your plan.
Having a marketing plan that allows you to know what budget you have available for each stage and future action is of great importance so that you can plan your resources more objectively for the year. It represents an anchor point to justify your long-term expenses and investments and plan your budget consciously.
With your marketing plan, you have the advantage of collecting the data necessary to calculate how long it will take your team to cover each stage, which gives you an idea of the time you should spend on it, what staff you should allocate to achieve your objectives and what financial resources you have available. Your company's administrators will be able to work in parallel with this plan and help you correctly manage your income.
A marketing plan , as we have already seen, offers you multiple benefits in terms of resource management, achievement measurement and strategy planning. It is recommended that at the beginning of each year, creating a marketing plan is one of your main tasks, as this will allow you to have a solid direction from start to finish.