Creating an Effective Marketing Plan: The Compelling Storyline - Essay Sample

Introduction

The marketing plan is a strategy that enables the firms to allocate resources on activities aimed at creating awareness and increasing their market share. The paper focuses on the composition of an effective marketing plan. The compelling storyline is a marketing plan component. The marketers define in a resistible brief manner what the company produces and its journey to achieve the objectives (Adams, 2017). The definition should develop a relationship with the customer. Therefore, the central character in the narrative is the corporation's capability for success. Another component is the sentimental attachment. Since in the market exist two types of buyers who are logical and emotional, to win the latter requires the creation of a product bond with them. Thirdly, the marketing strategy should be consumer-centric by unveiling the quality of the product the customer derive after consumption (Olenski, 2017). Value addition should be taken into consideration when devising the plan. The plan should take into account different sources of media because the target audiences use diverse media.

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Additionally, the plan of marketing is scalable when it can be exercised on a small test on the market, which aids the organization in analyses the cost-benefit in case the plan is implemented on a large scale. With the rapid change of technology, the plan needs to be flexible in terms of the adaptability of innovations. Lastly, the marketing strategy leverages thought-leaders (Wehbe, 2017). The team leaders who are influential help the company to convey the message even though it is challenging to impulse connect with them. The marketing plan is very significant since it guides and directs the marketers to remain within the course of action (Morgan, 2017). It allows the company to measure deviation and corrective action taken to eliminate the discrepancies. For instance, the Apple Corporation has devised its marketing plan targeting consumers with high incomes. To prevent the deviation, the company has stated the target market as well as the customer profile it requires to satisfy.

Conclusion

In conclusion, an effective marketing plan consists of seven components. For the company to succeed in a competitive environment, it needs to increase its market share as well as the profit margin. These achievements are attained through an effective marketing strategy.

References

Adams, R. (2017). How to develop an effective marketing strategy. Forbes. https://www.forbes.com/sites/robertadams/2017/06/01/how-to-develop-an-effective-marketing-strategy/#357dd45b2324.

Morgan, K. (2017). The 6 most important elements of a marketing plan. Finder US. https://www.finder.com/essentials-of-business-marketing-plan.

Olenski, S. (2017). The 6 essential elements of an effective marketing strategy. Forbes. https://www.forbes.com/sites/steveolenski/2017/09/16/the-6-essential-elements-of-an-effective-marketing-strategy/#4f1c103a6e54.

Wehbe, S. (2017). 5 key elements of a successful marketing plan - Potential.com. The Online Learning Platform.https://www.potential.com/articles/5-key-elements-marketing-plan/.