Marketing Plan | Market Analysis | Situation Analysis | Steps in Marketing Plan (Marketing video 10)

A marketing plan refers to an operational document that outlines its promotional, advertising, and marketing strategies for the upcoming period.

A Marketing Plan in simple terms is the strategy that an organization implements to generate leads and reach target markets. It provides a sense of focus and direction to the company

The sections of the marketing plan

1. Executive Summary

Executive Summary refers to the first section of the marketing plan that provides an overview of the main points of a longer report. The purpose is to know the plan in a nutshell and save time

2. Situation Analysis

Situation Analysis refers to the process of critical investigation and evaluation of both internal and external conditions that might have an impact on the organization. It is always done before a new project or a new initiative

3. Market Analysis

Market Analysis refers to the assessment conducted by an organization that allows knowing about the suitability of a specific market for instance how big is it, how fast is it growing, current trends and the critical issues it is facing

4. Marketing Strategy

Marketing Strategy refers to the plan of action that will help the organization to sell and promote its product or service. It also includes financial, marketing and mission objectives along with the specific needs that the company intends to satisfy.

5. Marketing Tactics

Marketing Tactics refer to the strategies and activities that help to achieve marketing objectives.

6. Financial Projections

The section of Financial Projections includes Sales Forecast and Break-even Analysis. It is considered a decision-making tool that can help to forecast future revenues and expenses

7. Implementation Controls

This last section refers to the strategies for supervising and adjusting the marketing plan. It includes the objective and budget for each month and helps the managers to take corrective actions if needed.

This video is on the Marketing Plan and has the following sub-topics which helps u write a marketing plan

Time Stamps

0:00 Introduction

00:49 Executive Summery

00:57 Situation Analysis

01:15 Market Analysis

01:36 Marketing Strategy

01:59 Marketing Tactics

02:16 Financial Projections

02:43 Implementation Controls

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