Many firms develop a formal what to answer the question: who is your target market and how do you plan to reach them?

Many firms develop a formal marketing plan to answer the question: who is your target market and how do you plan to reach them. A marketing plan is a comprehensive document which sets out an organization's overall marketing strategy. A marketing plan will include digital media, print media as well as product development strategies. The marketing plan takes the organization's mission statement and turns it into a practical plan. Its goal is to practically implement the reason for the organization's existance.