What document outlines a company's target audience and guides marketing efforts accordingly?

The document that accurately outlines a company's target audience and guides marketing efforts is the marketing plan. This comprehensive document typically includes details about the target market, customer demographics, and psychographics, as well as the strategies and tactics that the company will use to reach that audience effectively. A marketing plan not only specifies who the target audience is but also addresses how to engage and communicate with that audience through various channels, making it essential for aligning marketing efforts with business goals.

While a business plan provides an overview of the entire business and its strategy, it does not focus specifically on marketing aspects. The marketing strategy, on the other hand, refers more broadly to the approach a company takes to market its products and services, while a sales forecast projects future sales figures but does not define the target audience or marketing tactics. Therefore, the marketing plan is the specific document designed to guide marketing efforts through a clear understanding of the intended audience.