A strong marketing plan is extremely important to make the business grow. A marketing plan plots the way which the business has to follow. A comprehensive marketing plan may base the product, the targeted clients, the profit goal and the strategy on which the employees of the company will work. The business figures out of what people need, the organization has to produce a product as per the needs of the people. After the product been established, the company has to think of how makes it reach to the public and convince them that it is the only product that can help their cause.
A strong marketing plan is based on four Ps. Just extracting a marketing plan and communicating it verbally to the employees is not wise enough. A marketing plan in a hard copy distributed to each employee and assigning each of them a particular task according to their capabilities can be more helpful.
The first P among the four Ps stands for:
Before launching a product, the planners have to estimate of who will buy it? Why will people buy it? How can it be better than the other similar products available in the market? And other such questions have to be answered even before producing a sample.
The price has to be set considering the targeted market. If the company wants to enjoy the benefits of the economies of scale, it has to sell the product at a lower price. But, if the company wants to earn big profits in short term, it will be sold at a higher price.
Promotion deals with the advertising strategy, the mediums of advertisement and other such things.
Place refers to the market that the company will target to sell its product. The choices for places are among the international market, the rural areas of the company or the urban areas.
To make the business prosper, it is necessary to protect the marketing plan of the company with due care. The best and easiest way of doing so is to use security software that can Lock Folders. If a marketing plan of a company gets leaked and fall into the hands of rivals, it can be disastrous for the business.
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A Strong Marketing Plan is Awfully Important for the Growth