8.6 Characteristics of a Marketing Plan

An effective marketing plan should:

		Provide a strategy to accomplish the company mission.
		Be based on facts and valid assumptions.
		Describe an organization to implement the plan.
		Provide for continuity.
		Be simple and short.
		Be flexible.
		Specify performance criteria that can be monitored and controlled.

	The marketing plan is the statement of marketing objectives, strategies, and activities to be followed in the business plan.
	The marketing system identifies the major interacting components, both internal and external, that enable the firm to provide products to the marketplace.

8.6 Characteristics of a Marketing Plan

	Environment factors, although largely uncontrollable, should be identified and discussed in the Industry Analysis section of the marketing plan.
	Internal environmental factors are more controllable by the entrepreneur:

		Financial resources. The financial plan should outline the financial needs for the venture.
		Management team. The entrepreneur must build an effective management team and assign responsibilities to implementing the marketing plan.
		Suppliers. Suppliers used are generally based on a number of factors, such as price, delivery time, and quality.
		Company mission. Every new venture should define the nature of its business and what it hopes to accomplish.