The assigned roles allows companies to keep track of their milestones and communicate with the teams during the implementation process.
Having a marketing plan helps company leaders to develop and keep an eye on the expectations for their functional areas.
The marketing plan shows the step or actions that will be utilized in order to achieve the plan goals.
For example, a marketing plan may include a strategy to increase the business's market share by fifteen percent.
A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible.
It contains some historical data, future predictions, and methods or strategies to achieve the marketing objectives.
In a sales-oriented organization, the marketing planning function designs incentive pay plans to not only motivate and reward frontline staff fairly but also to align marketing activities with corporate mission.
The marketing plan basically aims to make the business provide the solution with the awareness with the expected customers.
Marketing planning can also be used to prepare a detailed case for introducing a new product, revamping current marketing strategies for an existing product or put together a company marketing plan to be included in the company corporate or business plan.
One of the main purposes of developing a marketing plan is to set the company on a specific path in marketing.