Do you agree or disagree with this discussion and what do like or dislike about the discussion A marketing plan serves as a guide for the organization offering objectives identifying target audiences and outlining positioning strategies. It acts as a compass leading the company towards its desired market position. A marketing plan provides an outline of strategies to effectively convey the brands uniqueness reach out to consumers and stand out in competition, against established premium brands.

Allocating resources is another aspect of a marketing plan. It enables organizations to effectively utilize their human and technological resources in order to maximize their return on investment. Marketing plans require an evaluation of the market landscape, which includes analyzing competitor actions, consumer trends and potential opportunities or threats. This analysis helps inform decision making processes. The marketing plan also serves as a means of communication ensuring that everyone within the organization is on the page when it comes to the marketing strategy.