Describing activities involved in achieving specific marketing objectives within a set timeframe as this type of product specific, market specific, or company-wide plan. Beginning with conceptualization, the identification through market research of a customer’s needs, then designing how the firm intends to meet these needs while realizing an reasonable rate of return. Thorough analysis of the current market situations, pointing out opportunities and trends leads to detailed action programs, budgets, sales forecasts, strategies, and projected, proforma financial statements. Also refer to marketing strategy.

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