Marketing planning helps you develop products and services in your business that meet the needs of your target market. Good marketing helps your customers understand why your product or service is better than, or different from, the competition.
A good marketing plan can help you reach your target audience, boost your customer base, and ultimately, increase your bottom line. It's often required when seeking funding and helps you set clear, realistic and measurable objectives for your business.
Developing a marketing plan requires research, time and commitment, but is a very valuable process that can greatly contribute to your business success.