Marketing Terms Essay
The main similarities of marketing plan, strategic marketing plan and tactical marketing plan is that their function and use is for the development of the company. These are essentials in establishing a strong company, able to compete and to maintain and develop its status. All must be well taught and analyzed for the company to succeed. Also, all are written documents that are consist of the plans that the company wishes to do in the times to come.
A marketing plan just as the term implies, is the plan or marketing objectives that a company wishes to do for the befit of the company. It is a written document that contains the actions that a company will pursue whether it is for a year or even for 5 years. A marketing plan can be considered like a windpipe or the air passage of the enterprise because it is a marketing plan that makes a particular company going. Without a sound marketing plan, any business, whether big or small is most likely to fail. On the other hand, Strategic marketing planning can be considered as a type of a marketing plan. It is consist of the strategies that the company will pursue in order to maintain its costumers and as well as the production and delivery of services to its valued customers. Other matters such as public relations and different marketing strategies are also included.
. The tactical marketing plan is a very important part of the marketing plan. It can also be considered as the heart of the marketing plan and includes information such as detailed descriptions of the tactics that are to be carried out by the company in order for the company to succeed and to achieve its goals. Decisions regarding target markets, products, promotions, pricing, distribution and other areas are included in the Tactical marketing plan. Current marketing decisions are also included in order to have a comparison of what is the tactical marketing plan before with the newly formed plan.
Marketing plan, strategic marketing plan and tactical marketing plan are very important documents for the growth of every company. Every business’s main goal is to gain profit and develop the present state of the company, it therefore very necessarily that every actions of the company is to be taught well. Another advantage of making these kinds of written documents is that it enables the company to keep tract of the progress in the plans made and to be able to make some modifications if necessary. It is really for the company’s benefit to make such documents.