Marketing is the process of developing and implementing a plan to identify, anticipate and satisfy consumer demand, in such a way as to make a profit. The market planning process typically results in a marketing strategy that can be used to enhance sales for the business producing it.
For example a marketer of colour TVs, having 10 per cent of the current market share in the country aims at enhancing his market share to 20 per cent, in the next three years. He will have to develop a complete marketing plan covering various important aspects including the plan for increasing the level of production, promotion of the products, etc. and specify the action programmes to achieve these objectives.
Create Your Marketing Plan
- An analysis of where your business is at now. (What is your product or service)
- Who is your target market?
- What are your goals for the time period of the plan?
- What marketing tactics will you use to reach your market and goals?
- How much will it cost?