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.