A marketing plan is the key way that businesses decide how to market their products and services to customers. You have been asked by your company to participate in a cross-functional team to develop a new marketing plan. Reflect back on what you have learned in your program on marketing. Then as a refresher, research marketing plans and review this article:
Choose a product or service that you are familiar with and then answer the following questions to provide your recommendation to the cross-functional team:
- What market research would you conduct to know your target market and customers?
- What marketing tools such as promotion, advertising, and digital marketing will you use?
- What is your strategy to address your competitors in the market?
- How will you measure the success of your marketing plan?