Posted 9 years ago on 11/12/2008 and updated 5/31/2010
Marketing plan is the first prerequisite once the company decides with bringing the product to the market. It is important to analyze market conditions, growth aspects before starting to release any product. A marketing plan document is a good start and plays a very important role in understanding the market better. This plan discusses several different aspects of marketing strategy.
Whenever an organisation plans to have a product released to the market, they initially focus on having a marketing plan before hand. This would actually help them to define the objectives, process, strategy and the complete life cycle for the product. Creating a marketing plan is not an easy task as it would involve lot of understanding, knowledge transfer and speaking to a number of people in various other departments of your organization.
A marketing plan for a small sized organization starts with providing product information, list of their competitors, comparison of features, need for product, demand in current market, recent market trends, and capacity to handle, strengths and weaknesses of competitors, etc.