Which of the following is NOT considered a core component of a marketing plan?

The purpose statement is not typically regarded as a core component of a marketing plan. A marketing plan is generally built upon more fundamental elements that guide its development and execution.

The mission statement outlines the organization's primary purpose and how it aims to achieve its goals. It provides the context within which marketing strategies are formulated. Market analysis, on the other hand, is essential as it involves assessing the market conditions, understanding competition, and identifying trends that can inform marketing strategies. Customer segmentation is also a critical component, as it involves dividing the target market into distinct groups based on shared characteristics to tailor marketing efforts accordingly.

While a purpose statement can provide clarity about the goals of a marketing initiative, it lacks the strategic depth and specifics found in the other core components that directly influence the planning and implementation of marketing activities. Thus, it’s not considered a pivotal element in the formal structure of a marketing plan.