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A Plan is a detailed list of steps used to achieve specific goals or objectives. In marketing, the plan constitutes of marketing strategy and tactics. Hence, it is called marketing plan. Planning is done to avoid incorrect actions and to reduce the frequency of failure. Basically, it is a business document that provides market related details such as revenues, costs, objectives, etc. This plan keeps on changing with the growth of business and rapid marketing trends. Marketing plan can be seen as a road map that provides direction to reach the business objectives.  The objectives of marketing plan given in Marketing Plan Assignment Help are: -

The Role of Marketing Plan in Business

There is a vital role of marketing plan in business. Some of the roles of marketing plan explained in Marketing Plan Assignment Help are listed below:

  1. Establishes guidelines- Written guidelines are always prioritized and its achievement rate is high. The success of promotion of products and services depend on these guidelines. In order to achieve a successful business campaign, marketing plan must be combined with overall business plan. The advantages of establishing guidelines can be studied in Marketing Plan Assignment Help.

  2. Forecasting- Forecasting is an important role played by the marketing plan. It estimates future sales from each marketing sector. Forecasting is used by the operations department, the finance department and the human resource department. The human resource department uses forecasts to plan for employees, while the finance department uses it to create budgets. The operations department of a company uses forecasting to create a production schedule. Marketing plan plays a significant role in small business too.  

  3. Business Integration- It helps to integrate all aspects of a business. It deals with both the production and finance of products and services. Hence, it brings the upper management and head of department of a company to work together. It is also concerned with legal operations, marketing, production and finance. Understanding the concepts under market plan can be difficult. Market Plan Assignment Help shall clarify the subject in an effective approach.

  4. Price- Pricing plan of a company must serve two basic purposes. First, it must sustain the company to reach its financial goals. Second, it must benefit both the customers and sellers. Marketing plan helps to develop a pricing strategy that enables the company to achieve the above said purposes.

 

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