What is the purpose of a marketing plan?

The purpose of a marketing plan primarily revolves around outlining marketing strategies and objectives. A marketing plan serves as a roadmap for an organization's marketing efforts, detailing what the business aims to achieve in terms of market positioning, target audience, promotional tactics, and overall marketing goals.

By clearly defining strategies and objectives, the marketing plan helps ensure that all marketing activities are aligned with the company's overall business goals. This alignment allows organizations to effectively allocate resources, measure performance, and adapt strategies based on market conditions and competitive dynamics.

While creating a competitive product, managing operational expenses, and conducting market research are all important components of a successful business strategy, they do not capture the comprehensive purpose of the marketing plan itself. A marketing plan is fundamentally about strategic direction in marketing, making the outlining of strategies and objectives its core purpose.