What is a Marketing Plan?
What document outlines an advertising strategy for an organization?
Marketing Plan
What are the 3 things a business summary must describe?
What is the company name, headquarters, and mission statement
A clearly defined segment of the market a business wants to appeal to
Target Market
Three types of goals included in Business Initiatives
Short term, Intermediate, and long term
The term for how much money the business has allotted for marketing initiatives
Marketing Budget
What is the name of the demographic or psychographic defined within a marketing plan
Target Market
Why are business initiatives important in a marketing plan?
they help segment various goals of the department
studying and prioritizing market segments based on demand and competition
Market Opportunity Analysis
The four P's of marketing
Product, Price, Place, Promotion
platforms used to publish content and connect with customers
Marketing Channels
What should a marketing plan include to track progress?
A timeline to accomplish goals
In order to understand your businesses market, you must analyze your.....
Competition
A group of similar consumers within a larger market
Market Segment
What is the most important P of marketing and why?
Price because it controls the supply and demand of your product
Name three examples of marketing channels
social media, email, content marketing etc
Where you'll publish the content that educates your buyers, generates leads, and spreads awareness of your brand.
Marketing Channels
What is the one element in a business summary that describes a businesses goals and purpose
Mission Statement
A way to classify individuals based on values & goals
Psychographics
How can a business increase revenue through marketing strategies?
By attracting more customers and retaining existing ones?
the marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.
Branding
What are the FOUR components of a successful marketing plan
the target market, marketing strategies, budget, and marketing channels
What part of a marketing plan provides a comprehensive overview of the organization?
Business Summary
A way to classify individuals based on their age, gender, salary, etc
Demographics
Describe how digital channels can enhance marketing strategies
they allow businesses to reach and engage customers effectively online?
What does SMART goals stand for
Specific, Measurable, Attainable, Realistic, Timely