A marketing plan is a detailed roadmap that contains your marketing strategies, activities, costs, and results over a specified period. It sets out the necessary marketing action to take for your business to meet its targets.
A marketing plan is needed as it will show your business goals, your market, your activities, and chosen marketing strategies which will keep your business on track to success. A good marketing plan can ensure you find out what strategies work for you, what your strengths, weaknesses, and opportunities are, and where your money is being spent.
A well-formed marketing plan can lead your business to success and profit that you would not reach otherwise.