Marketing Plan
Objectives of a Marketing Plan
Marketing is one of the essential activities in an organization because it helps organizations increase sales by creating awareness of its products and services in the market. According to Wrenn & Mansfield (2014), implementing an effective marketing strategy requires developing a marketing plan. One of the objectives of a marketing plan is generating leads by identifying potential customers. A marketing plan requires identifying the target market, hence creating strategies that effectively reach the target customers (Armstrong et al., 2014). For instance, if the target market includes millennials, the organization may opt to use social media marketing because millennials often use social media platforms to get information about a product or service.
The second objective is to increase brand awareness. A marketing plan helps organizations create awareness of their products and services, thus creating brand awareness (Armstrong et al., 2014). The third objective is getting potential customers and existing customers to think about an organization by constantly reminding them about its products and services. Another objective is to convince potential customers to buy from the organizations by informing them about the unique features of the organization’s products and services. For instance, an organization may inform potential customers about the high quality of products and low prices to make them choose its products and services over what competitors offer.
Possible Outcomes Due To the Lack of a Marketing Plan
One of the possible outcomes of not having a marketing plan is using the wrong marketing medium. A marketing plan ensures that the selected marketing medium aligns with the attributes of the target customers. Therefore, an organization would not have a specific marketing medium designed for the target customer without a marketing plan. Another possible outcome is limited brand awareness because the company would not be effectively enhancing brand awareness due to a lack of an effective marketing strategy.
References
Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson Australia.
Wrenn, B., & Mansfield, P. M. (2014). Marketing planning guide (3rd ed.). Routledge.
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Question 
Marketing plans describe the current situation for the product, service, or brand and the plan for the future. —What are the objectives of the marketing plan? In other words, why is one needed?
Marketing Plan
-What are the possible outcomes if marketers do not have a marketing plan?
-Provide specific examples to support your ideas.
– In replies to peers, discuss whether you agree or disagree with their position and justify your reply with specific reasons, facts, and examples.