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WHAT IS STRATEGIC MARKETING PLAN


WHAT IS STRATEGIC MARKETING PLAN
        
        On the basis of strategic marketing planning a written document known as marketing plan is generated which includes the implementation, evaluation and control of marketing activities. A marketing plan is a written document that specifies the organisation’s resources, objectives, marketing strategy implementation and control effort planned for use in marketing its operations. The marketing plan describe the organisation’s current position or situation, establishes marketing goals or objectives and specifies how the organisation will attempt to achieve these objectives. A strategic market plan is not the same as a marketing plan; it is a plan of all aspects of an organisation’s strategy. A marketing plan deals primarily with implementing the market strategy as it relates to target markets and the marketing mix.

            A strategic market plan is an outline of the methods and resources required to achieve organisation’s goals within a specific target market. it takes into account marketing, as well as other functional aspects of business like finance, research and development, and human resources, that must be coordinated. The process of strategic market planning yields a marketing strategy that is the framework for a marketing plan. Strategic marketing plan must be consistent with organisational mission and corporate as well as business level strategy. It emphasizes on marketing objectives that support organisational mission and objectives. It includes selecting and analyzing target market and maintaining appropriate marketing mix to satisfy the customers.

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