GENERAL KNOWLEDGE

Detailed explanation-1: -A good marketing plan provides vision as it provides a vision of what to achieve. It also provides direction as it provides direction of how to achieve objectives.

Detailed explanation-2: -A marketing plan is the advertising strategy that a business will implement to sell its product or service. The marketing plan will help determine who the target market is, how best to reach them, at what price point the product or service should be sold, and how the company will measure its efforts.

Detailed explanation-3: -The key objectives of marketing plans are to identify a company’s target audience, share departmental goals and establish a reasonable budget. Effective marketing plans can help you implement strategies that reach a wide target audience while also aligning with your employer’s sales goals.

Detailed explanation-4: -Retention marketing plan. A social media marketing plan.

Detailed explanation-5: -The key elements of any successful marketing plan include the concepts of product, price, place and promotion, also known as the four Ps of marketing. The marketing mix of the four Ps functions as a guide to help the marketing manager successfully develop a strategy for promoting products and services to customers.