Marketing is about identifying and meeting human and social needs. The American Marketing Association defines marketing as an organizational function and set of processes for creating, communicating, and delivering value to customers and managing customer relationships in ways that benefit the organization and its stakeholders. A marketing plan is at the center of all business projects because it will describe how to attract and retain customers. It is the most crucial aspect of a business. A well-written marketing plan will help increase sales and profit margins. You must be able to convince customers that you are offering them the best product or service at the best possible price. If a marketing plan fails and customers aren't convinced, it's a waste of time and money. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay There are many benefits to using a marketing plan as a tool for identifying and developing strategies. Identifying customer needs and wants and determining demand for a product can help identify new and/or potential customers, analyze competitive advantages, and design products that meet consumer needs. The downsides of using a marketing plan can identify weaknesses in a marketers' business skills, which can lead to poor marketing decisions if the data is not analyzed correctly. Unrealistic financial projections can misinterpret the market plan and identify weaknesses in a business plan. The task of a marketer is to design marketing activities and assemble fully integrated marketing programs that create, communicate, and deliver value to consumers. Marketing activities take all forms. E. Jerome McCarthy classified these activities as marketing mix tools of four broad types, which he called the four Ps of marketing: product, price, place, and promotion (Van Vliet). The four Ps represent the sellers' perspective on marketing tools. available to influence buyers. Using a marketing mix is ​​a great way and a crucial tool to help understand what the product or service can offer and how to plan a successful product offering. The marketing mix is ​​most often executed through the 4 Ps of marketing: price, product, promotion and location (Kotelnikov). Price covers the actual amount the end user is expected to pay for a product. The price of a product will directly affect how it sells. If a product is priced above or below its perceived value, it will not sell. If there is positive customer value, then a product can be successfully sold for more than its objective monetary value. If a product has little value in the eyes of the consumer, it may have to be sold at an undervalued price (Kotelnikov). The product is either a tangible good or an intangible service that appears to meet a specific customer need or request. The benefits offered by the product and all its features should be understood and the unique selling proposition of the product should be studied. Additionally, potential buyers of the product must be identified and understood (Kotelnikov). Promotions are marketing communication strategies and techniques. These may include advertising, sales promotions, special offers and public relations. It is important to differentiate between marketing and promotion. Promotion is just the communications aspect of the entire marketing function, 34(2), 308-328.