The Documentation of a Strategy That an Organization Will Use to Achieve the Overall Marketing Goals and Objectives

A marketing plan refers to the documentation of a strategy that an organization will use to achieve the overall marketing goals and objectives. Variou companies have different goals that they want to accomplish with the help of their marketing plan. Some include venturing into a new market, increasing their sales, or introducing a new brand. Not having a market plan will make the company go through many challenges in achieving the set goals and objectives. The marketing plan acts like a blueprint that the company will use to implement the marketing strategy. There is a need to have a combination of resources to ensure the company meets the objectives, including target sales and customer acquisition. 

There are several elements of the marketing plan. One of the components is the marketing goals. The goals of the program need to be SMART. They should be specific, measurable, assignable, realistic, and time-bound. Another element of the marketing plan is market analysis. The analysis should entail a description of the target audience. If the organization will be selling the product to several audiences, there is a need to break all the market segments and the consumer's profile. The third element of the marketing plan is the details of the prices. The features describe how much they will be charging for the product and the reason for setting the price (Chabowski, Mena, and Gonzalez-Padron, 2011). Some of the factors to consider while pricing includes the cost of production, the competitors' fees, and the return on investment. The last element is the advertisement plan. The program aims to have a strategy on how the product will be known to the consumers. Some of the advertising plans that a company can consider include social media, online campaigns, emails, and ever adverts in public places. To realize the return on investment, the plan should be following the company's budget. 

A market plan helps an organization to stick within the stipulated budget. When a company has a marketing plan, they know how much will be allocated towards advertising, price their goods, and other logistics like transportation cost. At the end of the process, that can gauge the profit and return of investment; the plan is successful. Another benefit of a marketing plan to an organization is to reduce the risk and uncertainties that may occur in the future. The risk of failure is shallow when a company uses a marketing plan to implement their strategies. They can review and gauge their performance (Kamboj, Goyal, and Rahman, 2015). Thus, if there is an issue, they can quickly identify the problem and create a contingency plan to use the point. They may not solve the case now, but they can curb such occurrences in the future. More so, a marketing plan creates a framework for the continuous implementation of processes. Once the organization uses the program in the implementation process, the marketing plan does not end. The process is ongoing, and they can use a similar strategy in their future ventures only with a few adjustments. The last gain of a marketing plan to an organization is forcing a company to reflect on goals. They can study market trends in the future and know the best course of action to take at the moment. The focus is to predict the consumers' behavior in the future and some of the likely changes. Consider having every step written down for a clear outline. With the features, it will be easy to promote the products of the company through advertisements. 

Part 2 

Goals and objectives are essential elements of the marketing plan. The components create a stalemate then needs to be achieved so that the entire process can be termed as successful. In goals and objectives, the focus might be to increase sales. It will be easy to incorporate the element in the marketing strategy by laying down a clear plan that will lead to achieving the set goal. For instance, the marketing strategy can increase the rate of production as the first step. An increase in production means more products to supply to the market to meet the consumers' demands. In the long-run, there will be an increase in the organization's profits from sales. The other marketing strategy for increasing sales can be to venture into the international market where there is a high demand for their products. However, when considering such a plan, other factors need to be put into consideration. One aspect includes improving the work quality to meet international market standards (Murray, Gao, and Kotabe, 2011). In general, the element of goals and objectives needs to be a part of the marketing strategy to integrate all the components. 

SWOT is the other element of the marketing plan that can be incorporated into the marketing strategy. In SWOT analysis, the aim is to identify the strengths and capitalize on them and identify the opportunities to take advantage of it. One of the possibilities for the company can be the presence of an increasing population. The element can be integrated into the marketing strategy by ensuring that the company gains a competitive advantage. Consider having the product branded in the marketing strategy to capture the attention of the growing population. Many people will be able to identify themselves with the company's brand and be willing to make purchases or even try the product for the first time. The focus is to have a platform where the consumers can relate and provide feedback for the work that they are using. From the same opportunity, consider having a plan for venturing into a new market in the marketing strategy and the target population increase. There is a need to analyze the population and create products that meet each of the characteristics present in the community. It is also essential to take advantage of the growing population to set the products' prices low to enter the new market (Nath, Nacchiapan, and Rammanathan, 2010). However, after a successful venture, it will be fit to increase the price to generate profits. 

In conclusion, a marketing plan provides an organization with a blue print of how operations are supposed to occur. The focus is to ensure that everything the company is taking part in is going according to plan, and there is a realization of the set goals and objectives at the end. There are several elements of the marketing plan. The focus of the components is to ensure an integrated program that caters to all the company's needs. It is more effective and efficient to incorporate the marketing elements of a company with the marketing strategy. The strategy will suggest the course of action that needs to be taken. 

References 

Chabowski, B., Mena, J. & Gonzalez-Padron, T. (2011). The Structure of Sustainability Research in Marketing, 1958-2008: A Basis for Future Research Opportunities. Journal of the Academy of Market Science, 3 (12), 14-20. 

Kamboj, S., Goyal, P. & Rahman, Z. (2015). A Resource Based View on Marketing Capability, Operations Capability and Financial Performance: An Empirical Examination of Mediating Role. Procedia – Social and Behavioral Science, 189 (4), 406-415. 

Murray, J., Gao, G. & Kotabe, M. (2011). Market Orientation and Performance of Export 

Nath, P., Nacchiapan, S. & Rammanathan, R. (2010). The Impact of Marketing Capability, Operations Capability and Diversification Strategy on Performance: A Resource Based View,’ Industrial Marketing Management, 39 , 307-329. 

Ventures: The Process Through Marketing Capabilities and Competitive Advantages,’ Journal of the Academy of Marketing Science, 39 (2), 252-269.