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In a sales-oriented organization, the marketing planning function designs incentive pay plans to not only motivate and reward frontline staff fairly but also to align marketing activities with corporate mission.The marketing plan basically aims to make the business provide the solution with the awareness with the expected customers.Thus, the definition of IBM's "corporate mission" in the 1940s might well have been: "We are in the business of handling accounting information [customer need] for the larger US organizations [customer group] by means of punched cards [technology]." Perhaps the most important factor in successful marketing is the "corporate vision." Surprisingly, it is largely neglected by marketing textbooks, although not by the popular exponents of corporate strategy — indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their "Superordinate Goals." "In Search of Excellence" said: "Nothing drives progress like the imagination.
Acquiring marketing share, increasing customer awareness, and building a favorable business image are some of the objectives that can be related to marketing planning.
The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan.
While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business.
A marketing plan is a comprehensive document or blueprint that outlines the advertising and marketing efforts for the coming year.
This "corporate mission" can be thought of as a definition of what the organization is, or what it does: "Our business is ...".
This definition should not be too narrow, or it will constrict the development of the organization; a too rigorous concentration on the view that "We are in the business of making meat-scales," as IBM was during the early 1900s, might have limited its subsequent development into other areas.The marketing plan would then outline the objectives that need to be achieved in order to reach the fifteen percent increase in the business market share.Marketing planning segments the markets, identifies the market position, forecast the market size, and plans a viable market share within each market segment.The marketing plan shows what the company is intended to accomplish within the budget and also to make it possible for company executives to assess potential return on the investment of marketing dollars.Different aspects of the marketing plan relate to accountability.Marketing plans start with the identification of customer needs through a market research and how the business can satisfy these needs while generating an acceptable return.This includes processes such as market situation analysis, action programs, budgets, sales forecasts, strategies and projected financial statements.It describes business activities involved in accomplishing specific marketing objectives within a set time frame.A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals.The marketing plan is a general responsibility from company leaders and the marketing staff to take the company in a specific direction.After the strategies are laid out and the tasks are developed, each task is assigned to a person or a team for implementation.