Benefits of Marketing Plan

Marketing plan, for some companies, is still considered as trivial and trivial. So the company often makes it just like an annual routine.

However, after that, the results of the formulation did not become a reference in the work program and were only stored neatly without ever touching them until the end of the financial year.

In fact, if the company wants to optimize the benefits that can be obtained from the marketing plan, surely they will be able to get an increase in profit. This is achieved by using the marketing plan as a way of conducting research.

This has been proven through several scientific studies that show a positive relationship between making a marketing plan and the success that can be achieved by the company.

This is in line with the recent business phenomenon, where all business sectors must have the ability to change rapidly. This change was made with the aim of keeping up with the times that are always moving dynamically.

For companies that are unable to keep up with these changes, surely these companies will be evicted by companies that are able to move dynamically following the phenomena that exist in society.

There are many examples of this case, where even a large company had to be closed because it was unable to keep up with the times. One of the world's big company names that eventually had to go bankrupt was Polaroid.

The company that produces this instant camera, had to close in 2001. Even though at the beginning of its emergence, this company was considered capable of shifting world civilization through the introduction of instant camera technology.

So that someone can take pictures practically without having to wait a long time to see the results like a film camera.

However, when the camera shifted towards digital, the Polaroid company was unable to keep up with the changes. As a result, public interest in using Polaroid cameras is getting thinner. Apart from practical reasons, digital cameras are considered easier and cheaper to use.

In the internet world itself, the name Altavista was known. The company is engaged in search engines as currently dominated by Yahoo and Google.

This company has been established in 1970, where at that time the internet was still a rare item. Apart from these two companies, there are still many other big names in the world, which must be lost from the competition because they are unable to keep up with the changes and developments of the times.

The Importance of a Marketing Plan

From the existing story, it shows that a company must have clear and directed steps to achieve their success. In particular, if they want that success to occur in the long term and sustainable.

One of the things companies can do is to make the right marketing plan for their company. Companies that do not want to make a marketing plan for their company, are surely digging a grave for the sustainability of their company.

There are several reasons why a company must have a good marketing plan for its company. Some of these reasons include:

The rapid development of technology has an impact on the shortening of the life cycle of a product. So to address this we need a good planning process for our products. Thus, these products will not be quickly eroded by competing products that bring the latest technology.

Changes in business regulations, where at this time the world is facing a period of trade liberalization. The impact of this condition includes the opening of free trade between countries, economic deregulation, and the opening of opportunities to enter into a certain business.

These conditions are believed to be one of the causes of the increasing number of competition in the business world and also the increasing number of attacks from competitors for the products we sell.

For a developing country like Indonesia, this is a threat in itself. This is because large companies from various developed countries will try to develop their product distribution channels in developing countries. This is because developing countries have a potential market niche for large multinational companies to work on.

An increasingly segmented market. Thus, there will be different treatments in each different market. The existing market is increasingly being explored so that it narrows the existing market.

Increased customer knowledge. With the disclosure of information, customers have the flexibility to access information on the products they need. So they can compare one product with another using information sources, such as the internet or mass media.

Thus, consumer loyalty will be increasingly difficult to obtain by relying solely on the brand. Consumers prefer the benefits that can be obtained rather than just pursuing a product brand.

Important Elements of a Marketing Plan

From the above conditions, it can be concluded that several important things must be present in making a marketing plan.

Some of these things include:

The existence of marketing information is quite valid. One of them is through the availability of accurate data, both from within the company and from outside the company.
Clear direction in determining what the company can and cannot do. This is due to the limited company resources.
The implementation of the marketing plan must be able to create sales and make profits. Sales will not bring meaning to the company if the sale does not bring profit to the company.
Routine evaluation. In this evaluation process, a parameter is needed as a standard measure. So that in the evaluation process information will be obtained about the level of success of the work program that has been carried out. Has succeeded in achieving the target or has not reached the desired target.

Steps to the Marketing Plan

The description above shows how the marketing plan is not just a discussion about the marketing division alone. However, the marketing plan is a basic concept that will be the direction and purpose of the company in choosing a strategy to implement.

Thus, in the future, the making of this marketing plan is no longer just a routine agenda without any real steps in its implementation. But further, it must be a tool that will be used in facing competition with existing competitors and also a medium to win the competition and achieve the best position in society.

Of the four main components of the preparation of a marketing plan, seven steps can be determined in preparing the marketing plan.

The seven steps include:

Determining the business review that will be selected by the company
The company's strategy in winning the competition
There is a concrete sales target determination.
The Marketing Mix consists of four P's, namely Product, Price, Promotion, and Place.
Determination of the company's financial budget in all divisions.
Implementation of planning
Evaluation of all planned activities and their implementation.

Knowing how important a marketing plan is, then back to yourself, are you still reluctant to make a marketing plan and plan for failure, or vice versa, bothered at the beginning to make a marketing plan, but optimistic about success in front of your eyes.