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A marketing
plan describes the overall marketing strategy that your company
will use to exploit opportunities and details how you will use your
competitive advantage to make sales. It is a tangible blueprint
for how you will promote and sell your product or service.
The marketing
plan uses the business environment information from
Module 2 to define market segments for your business, and select
your target market. A target market is the most potentially profitable
market segment for what you are offering, and your marketing plan
is designed around this group of potential customers. The marketing
mix for your business, made up of the five marketing Ps, will cater
to your target market.
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