How can a marketing plan establish a company's current market position?

Some of the trends in marketing planning include the use of data analytics for market competition analysis, customer satisfaction matrix, and net promoter score. There is also a trend towards more comprehensive marketing plans that include personnel requirements, communication policy, and research parameters. Additionally, the use of social media platforms like TikTok for marketing is becoming increasingly popular, especially as other platforms like Facebook decline.

A marketing plan can be evaluated for effectiveness by using various metrics and KPIs. These can include the Net Promoter Score, customer satisfaction metrics, and the success of communication policies. Additionally, the effectiveness of a marketing plan can be evaluated by analyzing market competition and conducting a PESTEL analysis. It's also important to consider the marketing objectives and whether they have been met.

Some potential challenges in implementing a marketing plan include understanding the market competition, ensuring customer satisfaction, managing personnel requirements, setting and achieving marketing objectives, dealing with external factors like PESTEL analysis, maintaining a good net promoter score, establishing an effective communication policy, setting appropriate research parameters, and monitoring marketing KPIs.