Developing a Marketing Plan

This article talks about the importance of having a marketing plan along with things that should be included in your marketing plan, from understanding a target market to determining competitive advantage. Included in the marketing plan should be a marketing budget outlining costs of achieving marketing goals. This article hits heavily on budgetary implications of creating a marketing plan, arguably the most important aspect of a marketing plan.


Applicability to Business

  • Developing a marketing plan helps plan for the future
  • Marketing plans can indirectly help boost sales


Learning Outcomes

  • Determine how much your business can spend on marketing
  • Develop a rough copy of a marketing plan based on finances