In every company, the preparation of a marketing plan is vital for monitoring and tracking of the company's marketing strategies for a certain product or service. The marketing plan is used as a tool by management or the owner to check whether the strategies that have been put into record are being implemented.
It will also be a tool to determine or measure the performance of that certain product or service and also be a guide for management to revise the marketing strategy.
A marketing plan is a detailed written document that describes the strategies and steps to achieve a specific company's marketing objectives. The marketing plan can be created for a certain product or service, a brand name or a product line. The plan can be for a period of one year or five years.
Strategy without tactics is the slowest route to victory; tactics without strategy is the noise before defeat". Sun Tzu - The Art of War. Marketing Strategy is something that helps companies achieves Marketing objectives. Marketing objectives help achieve corporate objectives and corporate objectives aim to achieve a competitive advantage over rival organizations.