The Marketing Plan

• marketing plan: a plan used by a business to guide its marketing process to a desired conclusion based on information obtained through market research and target market decisions.
• marketing objectives: what a business wants to accomplish through its marketing efforts.
• marketing mix: the 5 marketing strategies used to reach a market: product, place, price, promotion, and people.
• Product considerations include:
• features and benefits
• branding, packaging, and labeling
• selection
• positioning
• mix
• brand: the name, symbol, or design used to identify a product.
• package: the physical container or wrapper used to present information.
• label: the part of the package used to present information about the product.
• product positioning: how consumers see a product in comparison to another product.
• product mix: all the products a company makes or sells.
• channel of distribution: the path a product takes from producer or manufacturer to final user or consumer.