The marketing plan can be an independent document or contained within the business plan. Its main purpose is to provide an outline of the actions needed to formulate strategies to achieve planned objectives such as higher sales and superior customer satisfaction.
A marketing plan is usually based on the marketing mix variables (4 Ps) and it contains the following sections, which should be assessed on an annual basis.
Forgotten Formats: Who Remembers the Digital Compact Cassette?
The digital compact cassette (DCC), introduced by Philips in 1993, was a recordable audio digital technology with sound qualities superior to those of analog cassette technology. However, the DCC failed to gain market acceptance as it offered the product at a very high price and failed to promote the most attractive features of the technology, creating confusion among consumers. DCC was officially discontinued at the end of 1996.