Perhaps the most powerful illustration of succession's importance inside the family firm is the staggering number of family businesses that plan to hand over control to the next generation in the short_term. For instance, in the US alone, 40% of family business CEO's are planning to transfer power to the next generation within the next 5 years. When viewed in combination with the factors surrounding succession, this statistic truly represents the importance of the succession process not only within the firm, but also on a macroeconomic level_family_owned businesses have served as the backbone of society since the times of the ancient Greeks.
The fifth section of the marketing plan is TACTICS. Here you lay out the logistics of how you are going to use your marketing tools. When will your marketing tools be implemented? What happens when? In this section you will create a Media Rationale and a Marketing Calendar. The media rationale justifies the use of a particular tool by outlining specific reasons why that tool is a good choice and the specific way it will be implemented within your plan. The marketing calendar is simply a week_by_week calendar of your marketing activities.