Overview of a Marketing Plan

A strategic marketing plan fuses effective marketing decisions with ­efficient management practices, thereby providing a roadmap for success. Aspiring entrepreneurs use a strategic marketing plan to evaluate a new business idea. Others use it to qualify a business for financing, influence investors, improve marketing decisions, motivate workers, and attract buyers.

Who Needs a Marketing Plan?

Each profit center needs a strategic marketing plan. This includes divisions, brands, product lines, and branches. A business compiles their plans into a company-wide strategic marketing plan that becomes a major section of its business plan.

The mission of a business determines its overall goals—where the business ...

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