Which of the Following Describes the Three Major Phases of a Marketing Plan?

So which of the following represents the three major phases of a marketing plan? To begin with, marketing is not really a “stage” of your business’ development. It can be considered a “process” or a phase along the way to your ultimate goal. Marketing is part of the overall strategy adopted by your company and although it is often the first thing that customers think about when they hear your business name, it should not be the last consideration.

which of the following represents the three major phases of a marketing plan

For a new business, a marketing plan can take on many different forms. In fact, for most companies, the definition of what exactly a marketing plan actually is will include a number of sub-phases. One might begin with the need for a marketing plan, which is part of the process of planning for the success of your business. There may also be a need to define marketing goals, which would be a more specific statement about what you hope to accomplish through your marketing efforts. This part of the plan is often written in a short term goal in order to give you something to work toward each month.

Once you have a clear direction as to what you hope to achieve in this marketing department, you can move forward to setting realistic goals and deadlines for reaching those goals. You will want to show your customers that you are serious about reaching your goals, so provide weekly or even daily reminders as to how close you are to fulfilling those goals. Once you have properly defined your marketing goals, you can move to setting a schedule for achieving them. Most plans out there include some sort of weekly, bi-weekly, or monthly goal set aside for the marketing efforts of your company. For some businesses, this could mean setting aside time each week for market research. This type of research is very important for making sure that all of your marketing strategies are working towards the same end.

When it comes to creating an actual marketing plan, the final step is creating a budget for your marketing activities. This budget should be planned out each month with a view of exactly how much money you plan on spending. If you happen to have a lot of customer requests, it might be possible to obtain discounts from your suppliers or even use your profits to buy extra supplies. If you do not expect to receive many new customers, you might also want to consider advertising to attract new ones. Be careful not to spend more than you need to, though.

One of the most important parts of developing a marketing plan is the way you are going to actually implement the goals that you have decided to place out there for your customers. What will you do in order to get your customers to your store? Will you send out mail promoting your store or do you intend to simply set up a website to let customers browse your products? You might even decide that you need to create a whole catalog in order to show off all of the goods that you have for sale.

These three major marketing stages represent the basic concepts that every serious business owner needs to be aware of. It is important that you make a concrete plan of action in order to achieve your goals and these three steps will definitely help you along the way. Remember to always keep your customers’ needs and interests in mind and your business will flourish.