The Marketing Plan

A marketing plan is a strategy a company will use to market its product or services to potential clients or customers. It identifies the target market, the value proposition of the brand, or the product. The metrics are to be used to assess the effectiveness of marketing initiatives. A marketing plan is part of your business plan. It describes the important aspects of a business, such as its goals, values, mission statement, budget, and strategies.

When we look at marketing plans and marketing strategies it is often used interchangeably because a marketing plan is developed based on an overarching strategic framework. The plan outlines marketing activities on a monthly and quarterly basis. While the marketing outlines the overall value proposition.

Types of Marketing Plans:

There's a variety of marketing plans that match your business like:

A. New Product Launch: it outlines how a new product will enter the market.

B. Social Media: it focuses on advertising strategies on different social media platforms.

C. Time-Based: these are executed quarterly or annually and focus on the time of year on the best strategies in that period.