What is a marketing plan?

What is a marketing plan? A marketing plan is a written document containing guidelines for an organization’s marketing programs including allocation of resources over a given period of time. The time period covered by a typical plan will vary on the needs of the firm, but regardless should be revised annually. Writing a comprehensive marketing plan based on thorough marketing background is a timeconsuming project, particularly if it has not been done before. Therefore, it is wise to begin the disciplined planning process far in advance of when the plan is due. This is why you worked on your mission statement and resume in an earlier assignment. Your personal marketing plan should cover one year or until graduation (whichever time period is shorter). Your marketing plan will address the following questions: • What is my current situation? • Where do I want to go? • How will I get there? • Who or what is going to help get me there? • How much time and money do I need to invest? • How long will it take to achieve my goals? • How much money can I expect to make along the way? • Did I or did I not do what was set out to do? Executive Summary Mission Statement Core Competencies Situation SWOT analysisState OjectiveMarketing mix