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Marketing plan

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Marketers must understand the tools of their trade. Using both the textbook and Cybrary resources,

WHAT are the essential marketing tools. ( research)
Then create a report in which you address the following questions:

What is the overall purpose of a marketing plan?
How do a marketing plan and strategic marketing plan fit together?
What are some legal or ethical issues you may need to consider?
List and describe the various components of a strategic marketing plan?. This portion of the project provides a framework for the remaining assignments in the class.

THIS IS THE TEXT
Winer, R.S. (2004). Marketing management, 2nd edition. Upper Saddle River, N.J.:
Pearson Education, Inc.

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Solution Summary

The overall purpose of a marketing plan is to guide the organization with a strategic plan.

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Some of the essential marketing tools are activities related to the marketing mix or four P's of marketing: Product, Price, Promotion and Place (distribution). These tools provide guidelines for framing the overall marketing and strategic plan of an organization. Each of these elements contains various tools to maximize the market share of an organization and achieve the desired goals. Some of the important tools within each mix are SWOT analysis, Porter's industry analysis, Cluster analysis, data mining, market segmentation, BCG Matrix etc.

In today's advanced world, there is a variety of options and marketing tools within each marketing tool, made possible with the advent of newer technologies such as computers, softwares and internet. For example, the promotion element to decide on marketing and promotion strategic can be better understood by modern research techniques such as data mining, customer relationship management softwares etc. Similarly, protoypes and beta testing tools help companies in designing their best product mix. the use of modern technology as ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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