Marketing Plans – Strategy and Collaboration

Marketing Plans – Strategy and Collaboration

Role of Marketing Plans in Organizational Management

The objectives of a marketing plan are to establish and prioritize what the organization needs to do in the market, how it will do it, and what it ultimately needs to reach its business goals. It serves as a way to guide marketing activities and ensure that marketing is organized correctly. An effectively constructed marketing plan creates an apparent blueprint for the organization that keeps all efforts on the right path and focuses on the organizational goal/purpose. Besides this, it allows a business to figure out target markets, not only customers’ needs and expectations, but also competitors, and to best match the organization’s products or services to the existing demands. With managing inside activities, we develop a basic marketing plan that integrates departments’ marketing activities. It offers a structured approach to decision support, providing managers with a consolidated view for purposing and balancing capital on system-wide, attainable results based on given metrics. The marketing strategy is thus achieved by coordinating marketing activities with the organizational goals, which makes the organization harmonious because all activities and plans are balanced (Keller, 2016).

Generally, a marketing plan follows the following guidelines: an executive summary, situation analysis, marketing objectives, target market segmentation, marketing strategies, action plans, budget allocation, and performance measurement metrics. The part in every area is crucial since it acts as the backbone of all the facets of marketing management schemes, ensuring that every element is attended to systematically (Cunningham, 2019). The marketing planning process is commonly handled by the marketing department, where the CMO or Marketing Director manages all activities. However, the plans can be a lot more effective if input from the departments such as sales, finance, operations, and development are considered to ensure that the plans are aligned with the broader organizational goals. Interaction and contribution from team members with a cross-department mentality intensify the plan’s efficacy and develop a shared understanding of the marketing action goals and initiatives. All functioning units of the organization should be beneficiaries of the marketing plan to avoid confusion and ensure coordination effectiveness.

References

Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson.

Armstrong, G., & Cunningham, P. (2019). Principles of marketing (8th ed.). Pearson.

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A discussion question should be answered with a substantial post of 2-3 paragraphs.
Then, it will be followed up with two peer responses that are also substantial responses of 1-2 paragraphs.
What is the marketing plan’s purpose, and how might it be used in managing the organization’s activities?

Marketing Plans – Strategy and Collaboration

What should be included in the marketing plan? Who is typically responsible for developing the marketing plan? Which departments within the organization should have access to the marketing plan?
Please support your responses through examples.