The marketing plan - definitions

Question 1

The executive summary

Answer 1

This is the finalised planning document with a summary of the main goals and recommendations in the plan

Question 2

Situation analysis

Answer 2

This consists of the SWOT analysis and forecasts

Question 3

Objectives and goals

Answer 3

What the organisation is hoping to achieve or needs to achieve, perhaps in terms of market share or bottom line profits and returns

Question 4

Marketing strategy

Answer 4

This considers the selection of target markets, the marketing mix and marketing expenditure levels

Question 5

Strategic marketing plan

Answer 5

Three to five years long
Defined scope of product and market activities
aims to match activities of the firm to its distinctive competencies

Question 6

Tactical marketing plan

Answer 6

one year time horizon
generally based on existing products and markets
concerned with marketing mix issues

Question 7

Action plan

Answer 7

This sets out how the strategies are to be achieved through developing the marketing mix

Question 8

Budgets

Answer 8

These are developed from the action programme

Question 9

Controls

Answer 9

These will be set up to monitor the progress of the plan and the budget