Marketing plan
It is a blueprint that is made to outline a business marketing efforts and all the activities it involved. The primary objective of creating a marketing plan is to increase the base of a customer. It will include raising customer awareness, building favorable business image and acquiring shares. According to Markic, (2017) Creating a marketing plan is essential to many businesses mostly those new businesses and companies like nothing Bundt Cake Franchise. The planning helps in laying out the budget and all the resources needed to achieve the goal. Marketing plan gives out a unique opportunity for the employees and employer and employees to interact and share ideas in different areas.
When the marketing plan made, there are eight p’s that need to be considered for a successful companies marketing planning. The p’s include Packaging, promotion, placement, price, product, people and physical environment. Furthermore it contains some strategies, historical data, and future predictions to meet the objections of the company. In marketing plan of Bundt Cake Franchise forecasting, the market size and identification of the market position included. They can also have an advantage in introducing the new cake type that they have thus it would be easy to get more customers buying them.
Bandt Cake company need to put into consideration some of the things necessary in marketing plan .It includes; Market research which will consist of exercising patterns and dynamics and classifying and gathering data about a market organization that is.According to Angelina, (2018) Competition with other organization. Monitoring the results, the budget and also strategies thus the managers should review the financial situation and improve it in different ways. The leaders should ensure that every team assigned to a different task for the marketing plan to be successful in being made.