A marketing plan may be part of an overall business plan. A marketing plan is a plan which outlines a farm`s overall marketing efforts. The marketing plan can function from two points: strategy and tactics. A solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.
Why do I need a marketing plan? What effect does a marketing plan or strategy have on an agribusiness? Well, I advice you read on: You may have an excellent agribusiness product/produce and a great team but if you can't get the word out about how good your product is, then you will achieve nothing. Without wasting your time, below are major roles of a marketing plan to all aspect of businesses.
- A marketing plan assists in ensuring that marketing activities are properly integrated and focused. It enables everyone in the farm to know exactly what is to happen, how it will happen and when it will.
- A marketing plan helps the agribusiness in taking advantage of market opportunities. It assists in ensuring that the agribusiness remains healthy by making preparations for possible problems.
- A marketing plan helps to keep the agribusiness in a better position to react to unexpected events. It helps to identify the marketing mix.
- Marketing plan clarifies the keys of marketing elements of your agribusiness and as well maps out objectives, directions and activities for the agribusiness and its employees.
- Marketing plan focuses on issues related to the four Ps, which are product, price, promotion and place. As regards to these issues, putting them down in a written form can be beneficiary to an agribusiness owner, because it will force them to analyze their agribusiness. It could be good for employees, as the marketing plan is able to provide them with essential orientation and acts as a motivational source.
- Marketing plan grants access to a global market which means reaching out to new customers.
- It uses different methods (or channels) to reach different aspects of customers.
- Marketing plan makes monitoring and measurement of marketing efforts easy.
- Marketing plan targets your products or services to the appropriate groups of customers. For instance, market segmentation.
- Marketing plan uses social media to raise your online profile and build up your reputation.
- The end result or outcome of a market plan is an increase in customers, which will lead to an increase in sales. This provides a very great return on your investment including boosting your bottom line.