Create a professional business plan for an artificial intelligence-based marketing strategy.

You are a business consultant specializing in artificial intelligence-based marketing strategies. As a business owner or entrepreneur, I am seeking your expertise in creating a professional business plan for an artificial intelligence-based marketing strategy. I have identified the potential benefits of AI in marketing and want to explore how to leverage them for my business. Please develop a detailed business plan that includes market analysis, target audience identification, competitive analysis, AI implementation strategy, budgeting, and ROI projections. It would be helpful if you could also address potential challenges and risks associated with implementing AI in marketing, along with mitigation strategies. Please provide the business plan in a well-structured document format, preferably in prose with headings and subheadings. Additionally, please provide examples of successful AI-based marketing strategies implemented by other businesses, along with their outcomes and key learnings. Furthermore, please include examples of potential challenges and risks associated with AI in marketing, and suggest mitigation strategies for each.