Marketing Strategies and Plans Understanding Term Paper

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They represent estimations regarding key factors that influence the company's activity. It is recommended that the marketing plan takes into consideration a small number of hypotheses that refer to critical aspects.

The objectives of the marketing plan reflect the company's mission and general objectives. They are formulated in a concise manner, in quantitative or qualitative terms. It is recommended that each objective is established in accordance with the SWOT analysis.

Marketing strategies are a very important component of the plan. Strategies indicate courses of action. They refer to each element of the marketing mix: product, price, distribution, and promotion.

The marketing program allows describing the tactics used by the company in order to attain its objectives and to apply its strategies. The program presents actions that will be performed by the company, employees involved, deadlines, and costs.

The budget is established in accordance with the marketing program. Allocating financial resources must be made in accordance with the objectives set by the company in the marketing plan.

The control system is the final component of the plan (Department of State and Regional Development, 2008).

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Its purpose relies on monitoring the implementation of the marketing plan. Periodically, the results must be analyzed, in order to identify any negative aspects and to take corrective measures.

Reference List

Marketing strategy (2008). Wikipedia, the free encyclopedia. Retrieved April 28, 2008 at http://en.wikipedia.org/wiki/Marketing_strategy.

Fuchsberg, G. (1994). Visioning Missions Becomes Its Own Mission. The Wall Street Journal.

Write a marketing plan (2008). The Chartered Institute of Marketing. Retrieved April 28, 2008 at http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073869186.

Marketing (2008). Department of State and Regional Development, Australia. Retrieved April 28, 2008 at http://www.smallbiz.nsw.gov.au/NR/rdonlyres/6A4F86A1-1B04-4A39-9774-5E09A6F83F2E/0/Marketing.pdf.

Mission Statement (2008). Business Resort Software. Retrieved April 28, 2008 at http://www.businessplans.org/mission.html.

Strategic Marketing Plan (2008). Business Resort Software. Retrieved April 28, 2008 at http://www.businessplans.org/Market.html......

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