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Please post an original post. (Strategic Marketing) Why do you think developing a Marketing Plan for...

Please post an original post. (Strategic Marketing)

Why do you think developing a Marketing Plan for a new or existing business is an important activity for marketers and for companies in general? What is your opinion of the Acme Consulting Sample marketing Plan that is uploaded as a sample marketing plan? What are your takes from the podcast about marketing planning?

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Why do you think developing a Marketing Plan for a new or existing business is an important activity for marketers and companies in general?

Any business organization can survive in the industry only if it regularly attains the sales required for it to be profitable to operate in the market. Any new or even existing companies need a marketing plan to attract consumers and to increase their brand loyalty in the company to increase sales and enjoy success in the market.

A marketing plan helps in guiding the marketing activities of the company by providing guidelines, budget, information regarding the product and research about the target market. All of this can be favorably used by the company to influence the consumers in the target market and to make them understand the benefits of the products that the company sells. This would help in overcoming the challenges of competitors and substitute products as well as generating awareness regarding the salient features of the product or service among the consumers. This helps in increasing sales, profits and brand image in the consumer market.

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