I need you to answer 3 discussion posts and state whether you agree or disagree.

1.

The three most surprising things about going through our marketing plan: Plan Objectives Not knowing the marketing objectives leads to wasted time on unnecessary research, with the risk of new competitors taking market share, making it difficult for businesses to reach the target audience with the right messaging in a crowded, competitive space.

Competitive Factors Finding details in this section has been challenging because it is not just about doing a SWOT analysis. You must categorize correctly from the finding if the competitor is direct or indirect, whether others have a substitute for what we are trying to do as a business. Also, knowing where to fit in within the market and differentiate the brand has not been easy. Knowing the right market clever strategy is essential for the survival of a new business in standing out from the rest.

Reaching the target audience There are many options available today, more than ever, to reach the target audience. Knowing what advertisement to use, its frequency, type, medium and what will entice them requires more precision in execution than we can achieve in a 6-week course in marketing. Understanding some of these variables from the marketing plan will lead to a better chance for our business plan to succeed.

2.

The below things surprise me while I work with my team:

1.I am learning SWOT analysis from the business we choose. When I go through the details of competitors, I am really shocked that the market is huge, with fewer companies in the competition and huge potential.

2.With the promotion aspect, I am surprised there is no certain promotion tool to know the service charge, it is very hard for consumers to even think about the benefit of the service. How to innovate this business by inspired home?

3.Finally, to start a business , we need to invest money first .The budget forecasting needs to consider all the areas to invest . How soon could it make a profit?

While I see a bunch of numbers of dollars, I ask myself, is it worth to invest? At least, I need to monitor the business to make sure it is worth proceeding.

3.

There are a number of things that marketers might discover when creating a marketing plan that is unexpected or surprising. Here are three illustrations:

Although many marketers are aware of the value of data in helping them make educated decisions, they may be surprised by the level of complexity and detail required for data collection and analysis. For instance, the amount of data accessible and the difficulty in finding pertinent insights may surprise some marketers. The amount of money needed to adequately collect and analyze data may also surprise many marketers.

Flexibility is necessary since creating a marketing plan is an incremental method that calls for ongoing examination and modification. While the degree of flexibility necessary may surprise some marketers, they may also discover that it helps them make better decisions and react to shifting market conditions more successfully.

The value of cooperation: Creating a marketing plan frequently calls for the involvement and experience of numerous teams and stakeholders. The degree of cooperation necessary, as well as the requirement for excellent communication and consensus-building, may surprise marketers. Yet, productive teamwork can result in greater outcomes and more effective marketing initiatives.

Ultimately, creating a marketing plan can be a complicated and difficult process, but it also gives marketers the chance to grow and learn in unexpected ways. Marketers may develop more successful campaigns and more successfully accomplish their objectives by embracing the difficulties and surprises that emerge throughout the planning phase.