Marketing Plan Essay Example | Topics and Well Written Essays - 750 words - 2

Marketing Plan - Essay Example This type of marketing propaganda attracts old and new customers alike and sales of the products usually shoot up. In essence, creative and innovative marketing strategy is always preferred to promote sale of new and product of services. A good database of customers always helps in introducing new products and to increase the sales. It is always good to give something extra along with the product with the basic principle of giving less and getting more out of the customers and this strategy is always behind all the schemes that the company may come up with. Strategic marketing plans are crucial part of promoting products and services of an organization. The market plans are focused around 4Ps (product, prices, place and promotion) and a good market strategy always takes these points on a priority basis. It is equally important that while planning appropriate market strategy, proper use of SWOT (strengths, weakness, opportunities and threats) analysis is taken up. Awareness of strengths and weaknesses in the company’s resources facilitate and match the opportunities and threats so as to provide a competitive edge to their rivals. SWOT analysis is an important tool to up grade internal strengths of the company to meet the external opportunities and exploit them in a manner that would provide the companies with cutting edge advantage over their rivals. In the present case if the concept of coupon key ring is patented, nobody else would be able to copy this technique and it will present P&G with great opportunity to exploit this unique discount concept where customers need not bother with the regular discount coupons whenever new discount scheme or product is launched. Product is of vital importance and its pricing makes it salable item. Maintaining a good database of customers is important part of market strategy which