State the purposes of a marketing plan, marketing budget, and marketing schedule. What will be an ...

A marketing plan is a formal statement detailing how an operation will achieve its marketing goals. A marketing plan details the operation's marketing activities and identifies who will do them. It addresses when the activities will take place and how much money is needed to complete them. Finally, it addresses how the plan's results will be measured. Because financial resources are limited, a manager's marketing plan must be based on a budget. The budget ensures that the funds set aside for marketing will be sufficient to fully fund all activities presented in the plan. The marketing schedule is the part of the marketing plan that contains three key pieces of information about an operation's specific marketing activities: What is to be done? When will it be done? and Who will do it?