LO3 Develop and evaluate a basic marketing plan

Marketing planning:
  • The importance and value of marketing plans. 
  • The links between marketing plans, marketing objectives and marketing strategies.
  • Evaluating and monitoring marketing plans using appropriate control and evaluation techniques such as sales analysis, market-share analysis, efficiency ratios and cost-profitability analysis.

Structure and development of marketing plans:
  • Market segmentation and target market selection. 
  • Setting goals and objectives, situational analysis tools and techniques, creating a marketing strategy and allocation of resources and monitoring and control measures