Generally, companies are broken down into four levels of hierarchy, the corporate, the division, the business unit and the product level. The overall plan of the company is designed at a corporate level. As part of this planning, each resource is allocated to each division of the company. Next, division level planning allocates resources to each business unit of the company. In addition, business unit planning designs a strategic plan for each business area, which determines each of the marketing objectives/goals, strategies and tactics, that have to be consistent with the overall strategic plan.
A successful business is raised on the foundation of a great marketing plan. Selling is the most crucial and also the most difficult aspect of any business. Marketing of a product or service is real hard work and a good marketing plan is what ensures that the hard work bears fruit. It outlines how a business will go about attracting prospects, converting them into customers and retaining these customers in the long run.