What is a marketing plan?
So far, you have learned what is marketing, why and how is it done, need of marketing and other important aspects and concepts involved in this field. You now possess the knowledge of the basics and have clear concepts but can you put them together practically? Sadly, NO. And this is where this post comes in.
In this post i shall tell you from the very beginning, how to develop a good marketing plan and other crucial aspects related to it. But before starting on that, let us first understand the basic question which now must have been pondering your mind for the past couple of minutes.
"What is a marketing plan?"
A marketing plan is like any other plan which an individual or organisation adapts and implements for their good. It may be an individual plan or a part of a bigger business plan. The basic principle on which the plan works is a very strong and descriptive strategic foundation. A plan lacking all these vital components can never be successful and deliver the desired results. It wouldn't be incorrect to say that any flourishing business thrives on a good, strong and well articulated marketing plan and strategy.
Okay. So now i know what is a marketing plan. But why do i need to implement it in my business? What advantages and edge will it provide to me and my business? Or even better, i will manage without it.
These are the set of general and obvious question that must have strike many of you. The answer to all of them are simple and stated below.
"Categories in which you should NOT fall"
Many of us feel that marketing plan is not our cup of tea or we wouldn't be benefited from it. Such assumptions are absurd and can surely prove fatal for you and your business. Given below are a few general cases where people make such mistake. Make sure you don't belong to any of them! ;)
- Marketing plans are for big hi fi organisations and businessmen, not for me.
It is true that generally only large companies, business or organisations develop and adopt a marketing plan and they are really benefited by them. Moreover their turnover is sufficiently high that they need such a plan.
Yes. Large companies develop the plans to cater their needs. But this doesn't stop you from developing and implementing one. Think for a minute. What is planning? It's nothing but writing and documenting your small steps and strategies which when seen cumulatively in a comprehensive environment would only lead to better results. It gives a professional touch to your business when you map out the decisions according to the plan you have made and work accordingly to achieve the targets. And no matter what's the size or type of business, any business be it small or large will find the marketing plan invaluable.
2. I don't have the time to develop a marketing plan
Trust me. It's the lamest and the laziest of the excuse you could have given to anyone and yourself. Stop fooling yourself with such excuses. Are you really, really sure that you don't have a few hours to devote to a plan which will only lead to profits and put you in a win win situation? Come to terms with reality and you'll realise that you are definitely on the wrong track. If you want your business to grow and your presence to be felt, you surely need to step out of those shoes and make a plan right now. Hey wait! Oops. You couldn't make a plan right now, because you haven't entirely read this post yet. Don't worry. You'll learn to make one by the time you have completed reading the post.
You should perceive that making a plan is a small investment which will give you fruitful returns for a long, long period of time.
3. I run a flexible business or i keep changing my business often. So i simply don't want it!
Each business have it's own advantages and one of the biggest advantages of a small scale business is that it is flexible. You can switch over to other options when you feel the need. But flexibility is a different matter and opportunities are entirely different. Marketing plan brings confidence in you as well as motivates you to achieve your goals at regular time periods.
OOPS!! You are one of them. Don't worry. There is still plenty of time to learn and earn. So just mentally prepare yourself to the next topic.
"Need of marketing plan for your business"
- Provides proper documentation and formatting
- Gives you and your organisation a better, sophisticated, ordered and professional look.
- Enables clear decision making.
- Clearly specifies the long term and the short term goals.
- Integrates different types of strategic implementation.
- Saves you from the panic decisions.
- And lastly, keeps a check on you and if you are working in the right direction or putting the requisite efforts.
CONCLUSION
By now you must have understand the importance of marketing plan. Having one for yourself now is a must. It should and will take a few days to develop a basic marketing plan but it's results would definitely leave you pleased.
PS. Due to the length and the depth of the topic, i have decided to break this post in 3 parts:
1. Introduction: Where you get to know the basics of marketing plan
2. The next step: components of marketing plans are introduced
3. Final step: steps to develop a good marketing plan are discussed.
Happy Reading!! :D :D
Recent Comments
4
I am catching up on the blogs in my email. Just read this one and looking forward to getting a better idea of what a marketing plan is and how to implement it into my business. Thanks for the direction. Ever Forward.
Joe
Cool post!