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Tuesday, 25 September 2018

Different Plans that have Marketing components

        Eight plans have been identified that require marketing input. They are:

1. Corporate plan: this is the overall business plan for the corporation. It could be an annual intermediate or long range plan. It covers companies vision and mission goals and objectives, growth strategies portfolio decisions, investment decisions e.t.c. the details of activities of individual business unit is outside the pure view of corporate plans.

 2. Divisional plan: this describes individual decision plan for growth and profitability. It specifies the goals and strategies of the production, personnel, financial and marketing departments over a short medium or long range horizen. It is prepared by the divisional head.

 3. Brand plan: the specified the objectives , goals, strategies, and tactics for a brand within the board product category. It is prepared by the brand manager.

4. Product line plan: it specifies the goals, objectives, strategies and tactics for a specific product line example seasoning. Individual product line manager has the responsibility for preparing the product line plants.

5. Product plan: this describes the goal, objectives, tactics and strategies for each product within the organisation. It is the responsibility of the individual product manager.

6. Market plan: this describes how to develop and serve a particular market. It is prepared by the marketing manager.

7. Functional plan: this is a plan for one of the major management function example marketing, personnel, production, finance, research and development e.t.c. It could describe some functions of the main functions example advertising, sales promotion, training, promotion or demotion, transfer et c.

8. Product / market plan: this is a plan for marketing a particular product or product line of the company in a particular industry or geographical market.