A marketing plan is a comprehensive business document which outlines marketing tactics and plan. It is one of the most important parts of any business and may be part of an overall business. A firm marketing plan describes your advertising and marketing efforts for the coming year. The basic purpose of the marketing plan is to describe the current marketing position of a business, discussion of the target and an explanation of the marketing mix that a business will use to attain their marketing goals within a set time. It is a clear picture that shows what steps will be taken to achieve the plan objective.
Generally a marketing plan has a formal structure but either can be used as formal or informal document which makes it very flexible. It outlines some important things while developing a marketing plan such as market research, competition, market plan strategies, marketing budget, marketing goals and at last monitor the marketing plan results. Having a well written marketing plan is the central point of all business ventures because it explains how you make a strategy to attract or retain consumers and it is necessary to any successful business. A marketing planning gives your business an instructional manual for a business success.