Question
Enumerate with the help of an appropriate example how marketing plan for exhibitions are developed.
Answer :
Word Count : 1510
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Skip in 10
A good marketing plan is a detailed marketing map that will help you grow your business. Taking the time to develop a well-informed, thoughtful marketing plan will take the guesswork out of your marketing, keep your activities targeted and help you measure success. This will form part of your business plan.
A marketing plan consists of 2 parts:
- a summary of your marketing goals and objectives, your marketplace and the tactics required to achieve your marketing strategy
- the action plan you'll use to implement each marketing tactic.
Effective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps you define your vision, mission and business goals, and outlines the steps you need to take to achieve these goals.
Your marketing strategy affects the way you run your entire business, so it should be planned and developed in consultation with your team. It is a wide-reaching and comprehensive strategic planning tool that:
- describes your business and its products and services
- explains the position and role of your products and services in the market
- profiles your customers and your competition
- identifies the marketing tactics you will use
- allows you to build a marketing plan and measure its effectiveness.
A marketing strategy sets the overall direction and goals for your marketing, and is therefore different from a marketing plan, which outlines the specific actions you will take to implement your marketing strategy. Your marketing strategy could be developed for the next few years, while your marketing plan usually describes tactics to be achieved in the current year.
The market research you undertook when developing your marketing strategy will help you understand and improve your business's competitive advantage in your target market. Summarise the results of the market and customer research you undertook when developing your marketing strategy.
- This section of your marketing plan includes:
- an overview of your customer's demographics including age, gender, occupation, lifestyle and buying trends
- assumptions you have made about your market that influence your planning and implementation (e.g. your market's growing preference for online buying, competition you anticipate in your market from a new shopping and business precinct nearby)
- a brief description of the impact you anticipate from current or future market conditions (e.g. a growing mature-age population looking for health and wellness products, an increasing business presence in the region looking for IT services etc)
- a SWOT analysis of your business's strengths, weaknesses, opportunities and threats to help you understand any obstacles and advantages in delivering your marketing.
Use the following steps to create your event’s marketing plan.
Step 1: Set Your Events' Goals and Budget
Your
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