Learn how to formulate marketing and sales planning
Marketing and sales are two arms of a business. No entrepreneur can do without them. The marketing plan includes the marketing strategies and the action plan to implement it and achieve the sales target. The sales plan gives a vivid vision of how to position the product in the market and entice the customers to buy it.
Marketing and sales plan – how to formulate them
The marketing and sales plan is drawn after developing a thorough knowledge about the target market. This is done by studying the primary and secondary sources of information. Generally a company undertakes surveys, interviews and studies social media behavior to gather information about the target market.
The marketing and sales plan is not just another report prepared to fetch finance. It is the tool that would generate incomes for the company. Hence it should be penned with utmost care.
The branding of the company is done in the marketing plan. The marketing managers have to think of the unique features of their product and present them in the marketing plan. The plan must include a detailed account of the benefits of the product so advertisements can be created effectively.
The marketing plan also must include the strategies to market the product. The information gathered about the target market would reveal the type of media campaign to be adopted. For young generation, internet and social media marketing would be a safe bet. For mature people newspaper marketing fetches better results.
Next comes the budget. The plan also has to put down the budget for the marketing activities. It depends on the business acumen and experience of the manager to decide on the budget and break it up properly and stick to it too.
The sales plan must be equally drawn to show how the product would be displayed and at what locations so that it can reach the maximum number of customers.
A well formulated marketing and sales plan is all that a company needs to register high sales and earn profits.
MK Business School is known for providing quality education to management aspirants. We take great care in designing our courses and providing our students with state-of-the-art courseware that helps them to build a successful career. MK Business School teaches all the basics that students need to know to become entrepreneurs and hence our curriculum includes marketing and sales planning.
At MK Business School the students get thorough knowledge of these and learn to prepare their own. When it comes to education, we never compromise and our growing number of students is a testimony of that.