5. Explain the different components of a marketing plan.

What do you think is the importance of doing a

marketing plan?

The different components of a marketing plan are: Market focus, product focus, concrete, measurable
specifics, responsibility and accountability, reviews and revisions.

Market focus means that you have to understand your customers and even knowing your competitors.
Second, Product focus, it is an approach to business that gives some techniques or tactics, operations or
metrics in terms of the product. On the other hand, it enables you to focus on a specific target market and
feature set, instead of trying to be everything to everyone. Third, Concrete measurable specifics, It is like
goal setting, you have to identify what to do, in order to attain that goal. Next is Responsibility and
accountability, it means that it can’t just be easily be disclosed to others but, it can be shared with its team
members to reach a certain goal as a group. And lastly, Reviews and Revisions, it is by
reviewing your marketing activity as you go means you can measure your numbers against your targets,
and get a clear view of what you need to do to meet them.

The importance of doing a marketing plan is that it helps to promote the products and services in your
business that meets the needs of your target market. It even provides strategies to make it easier and faster
for the business .