Introduction to Marketing Plan

Hey guys, welcome back to my channel T concept. Concept is crystal clear, so in today's video, we are going to talk about what is a marketing plan, we will discuss its meaning, importance, and what are the components which are necessary in a marketing plan. This is the introduction to the marketing plan video

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What is a Marketing Plan?

A marketing plan means a guide that helps us in deciding the business, that how we can promote our products or services to the customers. The things that come in it are which goods or services we have to sell, to whom, and how we will be able to promote our goods or products, where we will do it, and how we will promote it. Along with that, we make goals that what we want to achieve, our goods, products, or about services. This explains the meaning of a marketing plan

We can say that it is a step-by-step process through which we reach new customers and at the same time grow our business.

Importance of a Marketing Plan

Next, we talk about the importance of a marketing plan. A good marketing plan is important because it acts as a guide, helps the business to achieve success, what we want to achieve, target the right people, what kind of people should our products or services reach, which we are offering. This saves both our time and money, at the same time we measure our success, we see how the progress of the business plan or marketing plan we have made is going on. This explains the importance of a marketing plan

Apart from this, it also helps in beating the competition, a strong marketing plan always helps the business to keep an upper end ahead of its competition. In short, we can say that the marketing plan helps the business to stay organized, means to do things in a systematic way, and to reach more customers and at the same time to grow effectively.

Components of a Marketing Plan

Last comes what are the components of a marketing plan. What are those things that together help in making a good marketing plan? This explains the components of a marketing plan

So all these components are important, in which first comes our executive summary. We have to see a short overview, whatever plan we have made, we have to summarize its goals and main strategy, which strategy will we use to achieve our marketing or business goals.

Second comes the target audience in the marketing plan, you have to see what type of customers you want to reach, whatever product or service you are offering, for which type of people have you made it.

Third comes marketing goals, you have to make a clear object that what do you want to achieve, like do you want to increase your sales or the awareness about your brand.

Fourth comes the product or service details, in this, you give information about what you are selling, you highlight that your product is unique for whom as compared to other products.

Fifth comes market analysis, in this, you do research about the industry, i.e. about the market, about your competitors, and at the same time, you understand what things are trending in the market right now.

Sixth comes the marketing strategy, what happens in this, you use all those methods through which you can promote your product, like you will run ads, show ads on social media, give discounts, or do partnerships with people or collaborate to promote your product.

Seventh comes the budget, you have to keep separate money for marketing and at the same time, you have to see where the money you invested on your marketing activities is being spent.

You get the timeline, a schedule has to be made, how will the marketing plan that you have made be implemented, which part has to be put first, which part has to be put later.

Last comes the performance measurement, you have to track and measure your success, how is the marketing plan that you made going, have your sales increased because of it, for your product or service. This explains the performance measurement of a marketing plan

If you have a website, are the visitors coming to it or not, along with that you have to take customer feedback, whether they are happy with the product or service that you have provided to them or not. By taking customer feedback, you have to make your product or service better.

So all these components help in making a good plan, marketing plan, so that's all in this video. If you like the video, then like it, otherwise dislike it, if you have any questions, then ask in the comments. Thank you for watching.