Marketing PlanningMarketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. – a detailed marketing plan is needed for each business, product, or brand The plan begins with an executive summary of major assessments, goals and recommendations. The main section of the plan presents a detailed SWOT analysis, states major objectives for the brand and outlines the specifics of a marketing strategy.A marketing strategy outlines how the company intends to create value for customers in order to capture value in return It lays out a program for implementing the strategy along with details of a marketing budget. It also outlines controls used to monitor progress, measure return on investment & take corrective action. As a manager or a director of sales of a hospitality business, you will be required to develop a marketing plan every year.
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