What is a Marketing Plan?
A marketing plan is part of the business plan. The marketing plan outlines the strategy and tactics designed to achieve the business objective of the Organization. The plan begins with the mission statement including; products and services offered, customer groups served, customer needs, and the unique competitive advantages of the Company.
Elements of the marketing plan include; financial, product data, sales and distribution data, advertising, sales promotion and merchandising, and market research.
How to Write a Marketing Plan: The 80/20 Rule
To achieve maximum impact, the plan should focus on the 20% of customers and products that produce 80% of the profits. The marketing plan must be based on achieving the organization's financial objectives that can be linked and measured.
The key component of the marketing plan is that which strategically describes how the objectives will be achieved. This strategy includes lists of tactics and timing of scheduled events or campaigns.
Perform a feasability of objectives and strategies in terms of market share, sales, costs, and profits required.
Content of the Marketing Plan:
- Market and Industry Changes: Strategies
- Company Information
- Current Situation
- Goals and Objectives
- The Competition
- S.W.O.T. Analysis
- Industry Analysis
- Most Profitable Customer
- Current Product/Service Customer Integration
- New Product/Service Customer Integration
- Customer Demographic Profile
- Customer Psychographic Profile
- Your Competitive Advantages
- Promise/Proof Message
- Marketing Channels and Management Tactics
- Marketing Campaign Schedule and Measurement
- Strategy Development and Research
- Financial Plan
- The Significance of Your Customer Mix
- Winning the Pricing Battle
- Marketing Research
- Customer Needs
- The Significance of New Products and Service Development
Sample Marketing Plan Form
To help you get started we are giving you a copy of our Marketing Campaign Action Plan form absolutely FREE! Just click on the button below to receive your copy.