What Is a Marketing Plan?

 
 

Our definition: A description of how and when you’ll achieve your marketing goals with your budget.

Official definition: “The written document that describes your advertising and marketing efforts for the coming year; it includes a statement of the marketing situation, a discussion of target markets and company positioning and a description of the marketing mix you intend to use to meet your marketing goals.” (Entrepreneur.com)

Origins: The phrase “marketing plan” came into use in the early 1900s, when scholars first noticed that the relationship between buyers and sellers could be analyzed and strengthened.

A marketing plan is not:

  • A business plan. A business plan includes the background, big-picture vision, long-term goals, operations, financial projections, and marketing plan of a company.

  • Only for big businesses. Solopreneurs can benefit as much as 1,000-person companies from a solid plan for marketing. The only difference is how many pages you have to write!

  • Just about ads or social media. It’s about how all your marketing tactics work together, on a budget and in certain timeframes, to meet your specific business goals.