Elements of a comprehensive marketing plan
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1) Various budgetary analyses that should be included in a marketing plan;
2) Various control measures that should be included in a marketing plan.
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Solution Summary
The solution is lengthy in focusing on both the marketing plan in general and the specific budgetary analyses and control measures to include.
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A Marketing Plan is a written document that details the actions necessary to achieve a specified marketing objective(s). There are a series of steps before getting to the budgetary part of the plan. The company should first view the macro-environment and then conduct a market research following by an analysis of customers. After these steps, the plan would turn inward to view resources and objectives. The cost analysis comes with the next steps regarding pricing and marketing costs.
"The classic quantification of a marketing plan appears in the form of budgets. Because these are so rigorously quantified, they are particularly important. They should, thus, represent an unequivocal projection of actions and expected results. What is more, they should be capable of being monitored accurately; and, indeed, performance against budget is the main (regular) management review process.
The purpose of a marketing budget is, thus, to pull together all the ...
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