What is marketing plan in SAP CRM-MKT - Marketing?

SAP Term: marketing plan

• Component: CRM-MKT

• Component Name: Marketing

• Description: An instrument in marketing used to draw up and implement marketing policy. Within strategic marketing planning, it is used for: Financial planning Product range planning Sales planning Budget planning Generally speaking, a marketing plan covers more general, higher level activities than a campaign.

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• Key Concepts: 
  A marketing plan is a document that outlines the strategies and tactics used to achieve marketing objectives. It is an essential part of any successful business and is used to identify target markets, develop strategies for reaching those markets, and measure the success of those strategies. In SAP, the CRM-MKT Marketing Plan component is used to create and manage marketing plans. 
  
  How to use it: 
  The CRM-MKT Marketing Plan component allows users to create marketing plans by defining objectives, setting budgets, and assigning tasks. It also provides tools for tracking progress and measuring results. Additionally, users can use the component to analyze customer data and develop targeted campaigns. 
  
  Tips & Tricks: 
  When creating a marketing plan, it is important to set realistic goals and objectives that are achievable within the given timeframe. Additionally, it is important to track progress regularly in order to ensure that the plan is on track. Finally, it is important to review the results of campaigns in order to identify areas for improvement. 
  
  Related Information: 
  The CRM-MKT Marketing Plan component is part of SAP's Customer Relationship Management (CRM) suite of products. Other components in the suite include Sales Force Automation (SFA), Service Management (SM), and Analytics & Reporting (AR). Additionally, SAP offers a range of other products and services related to marketing, such as its Digital Marketing Suite and its Social Media Analytics tool.