To know the characteristics of the most effective marketing plan, you must first understand the difference between advertising and marketing. Most of the marketing practices are done before ad placement. A marketing plan focuses on research, development, brand management, pricing, and distribution strategies. Let’s talk about what an effective marketing plan looks like.

Research

First, a good marketing plan provides objective information so you can make decisions confidently. This type of plan involves research data that helps you identify consumer needs for a specific product, service, competition status, and customer demographic characteristics, to name a few.

You need to identify the specific benefit of a product or service rather than depend on your advertising and promotions to create customer demand.

Financial Information

An effective marketing plan provides you with detailed financial information so you can decide on the price tags for your product or service. Generally, this type of financial information includes an overview of overhead production expenses, sales cost, and the cost of distribution options, to name a few.

Distribution Overview

An effective marketing plan can analyze the probable sales volume of distribution options, such as distributors, wholesalers, and retailers. Plus, it helps you determine each option’s costs and profit margins.

Communications

After you have done your research and planning, your marketing plan can help you work on the communication aspect of your project. It will help you choose from the most effective promotion options, such as advertising, direct mail, digital media, and even sponsorships, just to name a few.

So this was a description of some of the characteristics of the most effective marketing plan. Make sure your marketing plan has these characteristics.