Components of a Marketing Plan - Desklib

Running head: MARKETING
Marketing
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Author’s Note

2MARKETING
Table of Contents
Components of a Marketing Plan....................................................................................................3
Metrics.............................................................................................................................................4
Marketing Dashboards.....................................................................................................................4
Reference List..................................................................................................................................6

3MARKETING
Components of a Marketing Plan
There are various components of an essential marketing plan. however in order to make a
market plan appropriate and suited to the exact business environment of the organisation there
are 7 important components that need to be included in a basic marketing plan. The first
component is. Online libraries as well as other online services can utilise to acquire market data
that can help in development of the market research. Identification of the consumer buying habits
in the concerned industry where the company is operating, rate of market growth of market
decline, the size of the market as well as other current trends in the market essential to
understand in order to develop a proper market research.
The second component of a marketing plan is identification of target market. As Spiller
& Tuten (2015), defines, a properly described and defined target market tips identifies who are
the most likely buyers of the organisation. In identifying the target market at least two to three
different levels of market segmentation should be discussed in order to highlight the wide range
of target market of a company.
The next market component is the Market positioning where by the perception of the
constant brand in the Marketplace is assessed. Any business can be provided in this context. If a
restaurant is selling burgers the customers will visit the place more if the perceive the
concentration to be a place where I can go for availing gluten free food or other healthy options
and parallel if the restaurant has provisions for those who are in love with a double cheeseburger,
the Market Positioning of that restaurant will be higher than many others (Spiller & Tuten,
2015). Fourth component is competitive analysis is conducted no need to understand who are the
major competitors of the products as well as the services of the organisation. Here in the price
point at which other competitors are selling and what market segment the other competitive