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The five most common elements of a marketing plan include the following: business mission statement; situation...

The five most common elements of a marketing plan include the following: business mission statement; situation or SWOT analysis; objectives or SMART goals; marketing strategy; implementation; evaluation and control.

True

False

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Answer #1

The correct answer is true.

Marketing plan is a part of business plan which consists of actions that describes the company's advertising and marketing strategies. It explains business activities that focus on meeting marketing objectives in set timeframe.

The steps of developing an effective marketing planning process (MPP) are: -

  • Vision, position and purpose for the plan are developed.
  • SWOT analysis is conducted
  • Strategic goals and objectives are developed
  • Marketing mix plan is developed and marketing plan is integrated into organizational strategy.
  • All the elements of the marketing plan is controlled and evaluated.
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