The purpose of the marketing plan is to set the company on a specific course in marketing. Goals of marketing generally align with broader company objectives. A company looking to grow often has a marketing plan that emphasizes strategies to increase customer base.
Gaining marketing share, increasing customer awareness and building favorable attitudes are other common objectives. The objectives element of a marketing plan helps companies ensure all marketing investments have a target.
The primary purpose of a business plan is to define what the business is or what it intends to be over time. Clarifying the purpose and direction of your business allows you to understand what needs to be done for forwarding movement. Clarifying can consist of a simple description of your business and its products or services, or it can specify the exact product lines and services you'll offer, as well as a detailed description of your ideal customer.
Financial reports are the documents and records you put together to track and review how much money your business is making (or not). The purpose of financial reporting is to deliver this information to the lenders and share-owners (the stakeholders) of your business. If someone else is supporting part of your business, financial reporting must be part of the essential contract between you and them. Your lenders and investors have the right to know if their money is being spent wisely and returning a profit.