Marketing plans are tools used by managers to guide the process of marketing. They contain strategies and consider many environmental aspects that work together to affect the success of the product or service being marketed.
Marketers must learn to do solid research in support of upcoming projects. Provide a quick definition of marketing plans. Include the following:
Discuss an example of how a marketing plan helped make a product or service successful.
Discuss an example of how decisions in a marketing plan led to failure.
Analyze what was different in the 2 examples.
Find a movie that failed. Provide a quick overview of why the movie was considered a failure.
Applying what you have learned about the concept of market plans, extrapolate what could have gone wrong in the studio's plan with regard to forecasting demand for the project.
Marketing plans are imperative to a company's success in sponsoring successful and effective products, and in making companies responsive towards target markets. Upon recognition of a target market, the utilization of tactics and strategies influence consumer faithfulness to steer clear of the competition (Kotler & Keller, 2009).
Marketing plan definition
Marketing plans are essential tools utilized in directing and coordinating marketing endeavors, by operating on both tactical and strategic levels (Kotler & Keller, 2009).
A marketing plan example of success
Procter & Gamble (P&G) is a great example of a company with a successful marketing plan. As a worldwide leader within its industry, P &G performs marketing research before introducing its products, and utilizes this research to decide its tactics in regards to its strategies and marketing plan. On the basis of their research, their marketing plans are overhauled to meet their consumer needs (www.pg.com, 2010).
When P &G's needed to determine the marketability of their Crest White Strips, their marketing plan was modified, yet again. P & G's groundwork studies did indeed confirm unmet demands within the market. P & G's market research thus determined its strategies, finding that women were its primary target market. For that reason, P & G decided to utilize a celebrity endorsement, Rosie O'Donnell, to back its new product. In doing so, P & G was able to reach immense demographic regions by having Rosie O'Donnell endorse P & G's product on her T.V. show (Creamer, 2007). Through supplementary research, it has been noted that consumers have wanted further aesthetic dentistry supporting P& G's associations with cosmetic dentists (Creamer, 2007). P & G's marketing plan is geared to creating substantial relationships with its customers within approximately 70 million homes; ...
The response consists of 1,007 words and 5 references in APA format discussing the importance of planning and research via examples of successful products and failed movies.