From the different contents of marketing plan, choose one and explain what is its importance? 12:53Content of Marketing PlanExecutive SummaryOne of the best ways to get people excited to read yourmarketing plan is with a well-written executive summary.An executive summary introduces readers to your companygoals, marketing triumphs, future plans, and other importantcontextual facts.Basically, you can use the Executive Summary as a primerfor the rest of your marketing plan. Include things like:Simple marketing goalsHigh-level metricsImportant company milestonesFacts about your brandEmployee anecdotesFuture goals & plansProducts/ServicesDescribe your product or service.How does yourproduct/service relate to the market? What does your marketneed, what do they currently use, what do they need aboveand beyond current use?Target CustomersYour target market is a group of customers that has a similarneed for a product or service, money to purchase the productor service, and willingness and ability to buy it.In amarketing plan, target market has been simply stated bydeterminingthetargetmarketbyidentifving their 12:53Unique Selling Proposition and Competitive AnalysisThis section will help you identify who your competitorsare, what they're doing, and how you could carve yourself aplace alongside them in your niche-and ideally, surpassthem.TRINIDAD PARTPricing and Sales Volume PotentialPricing is the act of determining the value of a product orservice. Pricing determines the cost paid by a customer, butit may or may not be tied to the cost paid by the business toproduce the product or service. On the other hand, salesvolume potential refers to the number of units yourcompany sells during a specific reporting period. Thisperiod could be a month, a quarter, or a year depending onwhat level of sales volume you're seeking to analyze. Thislar describes the future plan of a business to distribute orcreate their products in specific numbers.Location AnalyvsisBusiness location analysis is the process of gathering andanalyzing data in order to assess the suitability of a site, ormultiple sites, for a particular business. This is also knowas site selection.Marketing StrategiesWrite down the marketing and promotion strategies that youwant to use or at least consider using. Strategies to consider:Networking - go where vour market is

A marketing plan is a strategic document that companies create and use to organize, execute and keep…

Answered: From the different contents of…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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From the different contents of marketing plan, choose one and explain what is its importance?

Transcribed Image Text:12:53 Content of Marketing Plan Executive Summary One of the best ways to get people excited to read your marketing plan is with a well-written executive summary. An executive summary introduces readers to your company goals, marketing triumphs, future plans, and other important contextual facts. Basically, you can use the Executive Summary as a primer for the rest of your marketing plan. Include things like: Simple marketing goals High-level metrics Important company milestones Facts about your brand Employee anecdotes Future goals & plans Products/Services Describe your product or service. How does your product/service relate to the market? What does your market need, what do they currently use, what do they need above and beyond current use? Target Customers Your target market is a group of customers that has a similar need for a product or service, money to purchase the product or service, and willingness and ability to buy it. In a marketing plan, target market has been simply stated by determining the target market by identifving their