Answer to Question #270189 in Marketing for nanyala

Question

Mbambo Denk Tjiueza Corporation want to start their own business and they are in a hurry. They have decided not to not to write a marketing plan because they already have funding and do not need a formal proposal. They think that writing such a document would take too long. Discuss why it is important or not important for them to write or not to write a plan.

Answer 1

The marketing plan is the missing link between the strategic direction of the business and the delivery of results. It is the glue that connects everything together and ensures that the right activity is taking place, at the right time, to the right audience through the right channels.

A Marketing Plan is one of the most important business tools for any company to utilize. If you are looking for funding to start up a business, a bank will want to understand your marketing plan. If you are looking for investment to take your business to the next level and investor will want to see a marketing plan to understand how his money is going to generate a positive return. And if you are selling your business, your potential acquirers will want to understand both your marketing strategy and your marketing plan. If you are not looking for any external support and have the internal resources to grow the business organically then you still need a marketing plan to help you achieve this in the most efficient manner.