Kelly is writing a marketing plan for a new energy drink. Her plan begin with "Executive Summary".
What is marketing plan?
A marketing plan is a strategic document that details an organization's advertising strategy for generating leads and reaching its target market.
Some characteristics of market plan are-
- The marketing plan outlines a company's strategy for promoting its products to prospective clients.
- The strategy defines the target customer, the brand's or product's value proposition, the campaigns to be launched, and the measures to be utilized to analyze the efficacy of marketing initiatives.
- The marketing plan must be changed on a continuous basis depending on the analytics that reveal which efforts are effective and which are not.
- Digital marketing produces results in near real time, but television advertisements take rotation to get any degree of market penetration.
- A marketing plan includes part of a company plan, that describes all of a company's major components, such as its objectives, values, mission, budget, and tactics.
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