I. Introduction A marketing plan is a document that documents the details of the current situation with respect to customers, competitors and the external environment while providing guidelines for objectives, marketing actions and resource allocations over the planning period for either an existing or proposed product or service (Walker, Mullins, Boyd, 2010). It basic function is to serve as a road map to establish sales based on goals and a time frame (Schafer, 2016). This document allows a company to reduce their personal emotions and establish objective criteria to make marketing decisions (Schafer, 2016). This paper will outline a marketing plan, establish a mission statement, growth strategy, objectives, business unity strategy and …show more content…
Executive Summary will present an overview of issues, objectives, strategies and actions the expected outcomes for quick review (Walker, Mullins, Boyd, 2010). b. The Service will outline the mission, objectives and describe the service being offered to its specific target market (Walker, Mullins, Boyd, 2010). c. Key Issues used to identify the main opportunities and threats of the service that the plan must deal with and the relative strengths and weaknesses of the service (Walker, Mullins, Boyd, 2010). d. Competitor Assessment this section will identify fellow competitors, assess the five competitive factors and the competitive advantages and disadvantages of each (Walker, Mullins, Boyd, 2010). e. Marketing Strategy used to outline the four p’s of marketing in extensive detail (Walker, Mullins, Boyd, 2010). f. Forecast and Budget this area will outline the forecasted sales and budget (Walker, Mullins, Boyd, 2010). g. Implementation and Controls showcase the organizational chart for the company and the future chart (Walker, Mullins, Boyd, 2010). h. Contingency Plans identifies what will change or can go wrong and what will be done when it does happen (Walker, Mullins, Boyd, …show more content…
Custom Events is a new service that is entering a new market. Therefore, the strategy that will be used is the product development strategy (Walker, Mullins, Boyd, 2010). The other strategies cannot be used for the company due to the fact that they are not offering an improved service and are not creating a new market (). In the company’s first year of operation it will break even. However, by year two profit levels are expected to increase by increasing both the clientele and sales. In addition, the company plans to outsource minimal levels of goods in order to maximize the profits and increase the