Marketing is the very life of creating a live and kicking product once it is released in the market. It can be compared to the rocket boosters in a space shuttle and it is very vital to take care that the plan is impeccable.
Behind the corporate objectives, will lie the "corporate mission," which provides the context for these corporate objectives. 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. The characteristics of the plan are Clear, Quantified, Focused, Realistic, Agreed.
This will give a detailed account of what the product is all about, the resources used in its making. Identification of unique product feature to achive competitive advantage will be focused.
Financial Analysis & Budgeting
This part of the plan is crucial to describe the financial aspects of the marketing activity. This will give a detailed account of the cost of the promotional activities and advertisements.
This multi parted chapter consists of the factors that went into consideration while fixing the price of the product. This will also give a detailed and precise report on who exactly the product is aimed at and what will be their response as well as the advantages of using it.
The last and the most important part of the chapter deals with the partitioning of the market in which the product has been released. The responses from each of the field is gauged and written in clear terms.