marketing plan



Product specific, market specific, or company-wide plan that describes activities involved in achieving specific marketing objectives within a set timeframe. A market plan begins with the identification (through market research) of specific customer needs and how the firm intends to fulfill them while generating an acceptable level of return. It generally includes analysis of the current market situation (opportunities and trends) and detailed action programs, budgets, sales forecasts, strategies, and projected (proforma) financial statements.
See also marketing strategy.

Use marketing plan in a sentence

  • If you have a good marketing plan your business should be able to flourish with all the customers it brings in.

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  • The new technology company's marketing plan impressed all of their investors, who then chose to buy more shares and double their investments.

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  • The brothers Jim and Mark White had huge desires to cash in on their film ideas, yet they had no structured marketing plan to carry out.

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