A quote that I use on a regular basis is "If you fail to plan, you are planning to fail" by Benjamin Franklin. In business, the most important plans to have are a business plan and a marketing plan. Today we will discuss the marketing plan. The marketing plan shows the direction of all marketing and advertising efforts. Remember, marketing is the total efforts of getting together buyers and sellers, whereas advertising is the types of communication used in marketing. Advertising includes TV, radio, online, print, and other mediums. Let's go over some important parts of the marketing plan that will help your business succeed.
Corrective Plan. A marketing plan is a living document. Trust me, the moment you have it and experience planning your marketing, you will realize this. Therefore it is a plan that allows you to assess past strategies and results and at the same time allow you to make necessary corrective measures to fit your business growth. for example, who expected the 2008 financial crisis to hit us so badly? No one other than the few so called "economists" but how did responded to it? Severely. Many businesses closed including many giants. But the good thing is, many have a solid marketing and business plans, therefore they make quick corrective actions and moved forward.