ENTREPRENEURSHIP

Detailed explanation-1: -Marketing plans are important because they highlight the specific actions team members plan to take to reach target customers, foster brand awareness and increase revenue. It informs executives, stakeholders and other employees of the marketing team’s objectives and their strategies for reaching them.

Detailed explanation-2: -The purpose of a marketing plan is to have a defined path to go to obtain new customers, strengthen relationships with current customers and clients, increase sales, improve retention and increase brand awareness.

Detailed explanation-3: -Having a marketing plan can help you to: identify your target market and how your product or service can benefit it. identify how you might attract new customers. encourage your existing customers to continue purchasing your product or service.

Detailed explanation-4: -A marketing strategy is a long-term plan for achieving a company’s goals by understanding the needs of customers and creating a distinct and sustainable competitive advantage. It encompasses everything from determining who your customers are to deciding what channels you use to reach those customers.