CTE Resource Center - Verso - Digital and Social Media Marketing Task 1522831672
Explain the purpose of a marketing plan and its relationship to a business plan.
Explanation should include
- a definition of the term marketing plan
- reasons why a marketing plan is an integral part of a business plan
- the concept that the function of a marketing plan within the business plan is to outline how to attract and retain customers and sell them a product or service
- ways the marketing plan provides details about the contributions marketing can make to the success of the business.
- What are some typical components of a marketing plan? (e.g., market niche, pricing, marketing tactics)
- How does a marketing plan relate to the marketing concept for the business?
- Why is a marketing plan essential to a business plan?
- Is it possible to have a business plan without thinking about marketing? Why or why not?
- Which comes first: the business plan or the marketing plan? Explain.
Other Related Standards
National MBAResearch Standards-Business Administration
Acquire foundational knowledge of customer/client/business behavior to understand what motivates decision-making.
Understand marketing's role and function in business to facilitate economic exchanges with customers.
National MBAResearch Standards-Marketing
Assess marketing strategies to improve return on marketing investment (ROMI).
Develop a foundational knowledge of pricing to understand its role in marketing.
Employ marketing-information to plan marketing activities.